Sharekhan Review: All About The Brokerage House You Need To Know
Sharekhan holds its position alongside the topmost share brokers of the country. In fact, the brokerage house is known to pioneer the very concept of online trading in India. The broker is in its 20 th year of serving the traders and investors. And, it seems to be growing even bigger and better every year! Anyway, we are typically not concerned about the broker’s growth at this moment. And, this article is not meant to exemplify an ideal brokerage firm. On the contrary, it is directed at reviewing one that believes itself to be ideal. In simple words, this article will act as Sharekhan’s review based on a handful of parameters. These parameters are selectively curated so as to provide you only relevant information. So, you may expect the review to unveil the list of Sharekhan’s charges, products, services, trading platforms and whatnot. The review is mostly made on the basis of publicly available information. However, we’ve used the data gathered from an anonymous survey as well. This survey included Sharekhan’s customer reviews. And, you’d be surprised to know that nearly 5,000 of Sharkhan’s customers participated in the survey. Anyway, we’ll be sharing a lot more about the company. So, make sure that you’re open to suggestions as you continue to read this article to the end.
Customer Reviews and Ratings
|Experience||8.7 / 10|
|Trading Platform||8.8 / 10|
|Product & Services||8.5 / 10|
|Brokerage Charges||8.3 / 10|
|Research||8.2 / 10|
|Overall Rating||8.50 / 10|
We’ve presented certain information in a tabular format right above this section. And, as you must be able to speculate, the information belongs to Sharekhan’s customer reviews. The table has been divided into eight parts. Sis of them elaborates what their customers think of them. One of the parts rates aggregates the cumulative response of the customers in a star-mark format. And, the last one tells you about the number of people who participated within the survey. So, if you take a close look at the table you’ll find: –
- Sharkhan’s customers rates the broker 8.7/10 for their experience.
- Their broking and trading platforms are rated at 8.8/10.
- The cumulative rating for their products and services got 8.5/10.
- They received a rating worth 8.3/10 for their brokerage charges.
- Their research and advisory based activities were rated at 8.2/10.
- And, they managed to gain an overall rating worth 8.5/10.
- A total of 4,959 of their customers participated in our survey. And, they all granted the broker a
five start review on the whole.
About Sharekhan: An Insight Into The Company
|Broker Type||Full Service Broker|
The table above should grant you with the basics of Sharekhan. It emphasizes on granting you the insights to the broker’s foundation. However, there are certain facts, that the table cannot elaborate. And, one of such facts is that Sharekhan initially belonged to the SSKI Group. However, it was taken over by BNP Paribas group not so long ago. Having said that, you must know that Sharekhan has its origins rooted in Maharashtra. In fact, it was registered with the ROC Mumbai, in the heart of Indian financial capital. Shripal Morakhia was the one to bring it to a reality in the year 2000. The broker claims to have a chain of over 14,00,000 customers throughout the world. And, as far as its presence is considered, it has a chain of 1,850 offices. The offices are scattered across 550 cities of India, Oman and UAE. In India, it operates under supervision of SEBI, NSE and BSE. It even has licenses from NCDEX and MCX to provide commodity trading services. And, on top of that, it has some state-of-art trading platforms. The platforms even include Sharekhan’s mobile app.
How Much Brokerage Does Sharekhan Impose On Clients?
|Brokerage Charge & Fees|
Rs.100 per Lot or 2.5% of Premium (whichever is higher)
|Currency Options||Rs 30/- per lot or 2.5% on premium (whichever is higher)|
|Brokerage Calculator||Sharekhan Brokerage Calculator|
At best, Sharekhan is the pioneer of online trading activities in India. At worst, it still stands alongside the best brokerage houses of the country. So, what are we trying to get at? Well, that’s rather simple! The broker rose to the ranks of the giants in a matter of a few years since inception. And, not all the credit goes to the ingenious trading platforms it has. In fact, a large chunk of its clients was attracted towards the broker due to Sharekhan’s brokerage charges. And, the table above is a representation of Sharekan’s brokerage to the t. It grants you the insight on how the broker imposes brokerage for seven of its services. The table begins with the description about Intraday Brokerage. The broker levies a charge worth 0.1% of total turnover for this. In fact, this exact same rate is applicable for three other services as well. We’re referring to Equity Futures, Currency Futures and Commodity Trading services. Equity Delivery services are provided for a brokerage worth 0.5% over total turnover. And, Equity Options and Currency Options services are granted for a flexible brokerage. The former is allowed for Rs. 100 per lot or 2.5% of premium. The later is provided for a brokerage worth Rs 30 per lot or 2.5% of premium. The highest value is charged as brokerage in both the cases.
Other Charges: List Of Charges Apart From Brokerage As Imposed By Sharekhan Broking
|Transaction Charges||0.00275% of Total Turnover|
|STT||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover|
Depends on State (very minimal)
|GST||18% of (Brokerage + Transaction Charges)|
As a trader, your obligation towards Sharekhan is not merely confined to brokerage. On the contrary, there are a list of other charges which you must pay. The list of Sharekhan’s other charges is summed up within the table above. And, if you pay a little attention, you’ll see that all these charges are taxes. In fact, these are the taxes that one must pay to the brokerage firm while trading. And, every brokerage firm further pays them to the government without any exception. Anyway, the table is comprised of 5 different segments. And, each segment briefs about a certain format of tax. To begin with, we have 0.00275% of total turnover charged as Transaction Charge. Then we have the STT or the Securities Transaction Tax. This one is charged at 0.0126% of total turnover. The third segment is dedicated to SEBI Turnover Charges. And, as the name suggests, it is charged at 0.0002% over total turnover. The fourth segment is dedicated to Stamp Duty. This is an uncertain charge. And, it varies from state to state. And, at last, we have an incursion of GST. This is charged at 18% over brokerage and transaction charges cumulatively.
All Charges Corresponding to Sharekhan Demat Account Opening
|Account Opening Fees|
|Depository Source||NSDL & CDSL|
|Account Opening Charges||Rs.750 & Rs.1000|
|Demat AMC Charges||Rs.400 per Annum|
|Trading AMC Charges||Free|
|Offline to Online||Yes|
To proceed with the article, we must inform you of the most relevant set of charges. We’re referring to Sharekhan’s account opening charges. These charges are all represented in a tabular manner right above. So, as you can see, the chart is divided into six different segments. And, each segment briefs something about the charges you must pay right ahead of becoming a registered trader with Sharekhan. Anyway, the first segment tells us about Depository Sources. The broker has a license to act a DP of both CDSL and NSDL. This allows ease of access, management and storage for the bought stocks. Sharekhan Demat charges vary from Rs. 750 – Rs. 1,000. This depends upon the kind of services one requires. Sharekhan Trading charges are not imposed on the traders. In fact, the traders are even exempt from Sharekhan’s Trading AMC. They do need to pay Rs. 400 a year as Sharekhan’s Demat AMC nonetheless. The broker does not require a maintenance of Margin balance for trade exposure purposes. And, they even provide offline to online conversion services.
List Of Offers Provided By Sharekhan
|Free Demat Account||No|
|Free Trading Account||Yes|
|Discount on Brokerage||Yes|
|Trading Happy Hours||No|
|Flexible Brokerage Plans||Yes|
|1 Month Brokerage Free||No|
|Zero Brokerage for Loss Making Trades||No|
Sharekhan offers substantial amount of discount on brokerage. In fact, Sharekhan’s brokerage charges are even presented in a flexible manner for the traders to benefit from. Moreover, they give away Free trading accounts to the traders. And, they even have some interesting referral offers for their clients.
Sharekhan Account Opening Procedure
This section will interest you if getting Sharekhan’s Account is your priority. And, since we’ve already explained Sharekhan’s account opening charges, it’s only justified that we let you in on the procedure of getting one. So, without any further ado, let’s discuss the procedure for Sharekhan’s account opening: –
- This is a four step process. And, the first one is perhaps the easiest. All it requires you to do is locate a specific button and click it. We’re referring to a button at the bottom of this segment. And, the button has an inscription ‘Open Account’ on it. Clicking on the button will take you to a whole new page. And, that’s where the second step begins.
- For the second step, you must fill up all the form within the new page. Do mind to only provide relevant information. And, by relevant we mean verifiable. In fact, you must submit the form with some verifiable documents. This brings us to the third step.
- The third step includes submitting a list of documents for verification. And, here’s what you must submit:-
- A copy of your ADHAAR Card or Voter’s ID Card. These are required to verify your identity and your residential address.
- A copy of your recently clicked passport sized image. This gives the broker a hint to your persona and identity.
- A copy of your bank account statement. This one must be updated. And, its is needed to establish your economic status.
- A copy of your PAN Card. This simply enables the broker to verify your economic status.
- The fourth and the final step is to wait for a call. We’re referring to a call from one of the broker’s representatives. This call will give you guidance to any further formalities. And, it’ll let you know if you’re eligible to become a trader with the broker.
Reasons To Open Up An Account With Sharekhan
There are many reasons to be trading with Sharekhan. However, we’ve curated the most lucrative ones for you. So, just go through the list below to get more insights: –
- They were one of the first brokerage firms to deploy online trading platforms. This gives them better understanding of how their customers use the platforms and even to come up with relevant upgrades.
- Even their network of offline trading branches is huge. In fact, it can be said that they bring the best of two worlds for their customers.
List Of Products Offered By Sharekhan
Sharekhan’s products include a number of financial instruments. Each instrument is distincy in nature and caters to a specific need of the investors. We’ve tried to enlist all the products into a chart right above this section. And, as you can see, they have products related to Equity, Commodity, Currency, Options, Futures, Mutual Funds and even SIPs.
List Of Services Offered By Sharekhan
|3 in 1 Acount||No|
|Trading Exposure||Upto 32 X|
Sharekhan’s services’ list is as diverse as their products’ list. As a matter of fact, they provide way too many services to be used by one single trader or investor. The list includes a total of eight provisions. They provide services concerning Demat and Trading activities. They provide services like IPO, Stock Recommendations, Intraday and even PMS. Moreover, they even provide Robo Advisory to their clients. This brings into use advanced technological approach to get their clients personalized advisory. They even have trading institution services allocated to certain of their branches. And, the best part is that they grant a trade exposure worth upto 32x on certain trades.
Research & Advisory Facilities As Provided By Sharekhan
|Research & Advisory|
|Company Stock Review||Yes|
|Daily Market Review||No|
Sharekhan’s research and advisory services is led by an in-house team of analysts. The team proactively keeps a track of the ongoing market activities. And, they prompt signals to ensure their traders’ profits just at the right time. Here’s a detailed list of all the research and advisory based activities they offer: –
- They provide the traders with Fundamental, Research and Company reports.
- The reports are published on an annual, monthly and weekly basis.
- They even provide a surplus of Company Stock Review and Daily Market Review.
- They give away Free Stock Tips and Top Picks.
- The best part about these services is that they provide offline advisory and even a Relationship
List Of Trading Leverage As Provided By Sharekhan
|Exposure / Leverage|
|Equity Delivery||Upto 15x|
|Equity Intraday||Upto 32x|
|Equity Futures||Upto 15x|
|Equity Options||Upto 10x|
|Currency Futures||Upto 8x|
|Currency Options||Upto 10x|
The chart above gives details on Sharekhan’s exposure pertaining to certain stock trade domains. And, as you can the broker gives upto 15x exposure on Equity Delivery and Futures. They provide upto 10x exposure on Equity Options, Currency Options and Commodity trading. They have a provision of upto 8x exposure for Currency Futures. And, Equity Intraday trades get the highest exposure of upto 32x.
List Of All Sharekhan Trading Platforms
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||No|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Real time Updates||Yes|
|Online MF Buy||Yes|
|Multi Account Management||Yes|
Sharekhan’s platforms concerning online trading are considered as some of the best. And, given that they were typically the first few to be introduced to Indian traders, they have been growing tremendously well over the years. Anyway, here the complete details on all the platforms: –
- Sharekhan Desktop Based Trading Terminal: The name of this particular platform is Sharekhan Trade Tiger. And, here’s a list of some of its features: –
- This is a one step solution for trading across multiple exchanges and indices. Traders can use this platform to trade across NSE, BSE, NCDEX, MCX and even Cash & F&O.
- It has the ability to showcase real time updates. And, this feature can be used specifically through creating watchlists. In other words, it has Multiple Market Watch feature.
- The platform can transfer funds easily. This is made possible by the broker’s tie ups with 12 of the most renounced banks of the country.
- The platform comes loaded with advanced monitoring tools like Heat Maps. In fact, the traders can even download data into excel sheets for safekeeping purposes.
- The platform has an interesting yet simple UI. It consists of Hot Key just like the ones in traditional trading terminals. This makes using the platform rather easy.
- The platform has amazing customization options. In fact, it allows customizations across charts, layouts, short-cut keys and even languages.
- Sharekhan Mobile App For Traders: Traders prefer to call this platform Sharekhan Mobile. And, it is available for download in both App Store and Play Store. Here are some of features it boasts: –
- It enables easy trades across various exchanges and indices, just like its desktop counterpart.
- It can be used to keep a close track of ones portfolio. In fact, it enables the users to view several charts and customize and view market watch lists directly from scrip search page.
- It comes equipped with many live charts to enhance the trading experience.
- It has a specific feature called the Bracket Trade. This allows the traders to trade in advance. it even allows them to track the orders in enhanced track section.
- Sharekhan Web Based Platform: This platform can be accessed through the official website of the broker. Some of the key features of this platform includes: –
- It allows heavy trades across Equities and Derivatives.
- It enables fund transfers through mobile banking. However, this features is specific to CitiBank and HDFC users.
- It allows the traders to get instant cash-transfers against purchase and sale of any shares.
- It comes integrated with a quick response timer. This allows the traders to get instant notifications concerning trade confirmations through emails and SMS.
- Sharekhan Web Based Platform-2: This is known as Sharekhan Mini. This is a web based platform like the Sharekhan Web. However, it is a much lite version of the original platform. It comes with many features similar to Sharekhan Web. However, it is mostly used to keep track of trades instead of commencing them.
Customer Care Services By Sharekhan
|Toll Free Number||1800 22 7500|
The aforementioned chart represents all of Sharekhan’s Customer Care services. And, here’s the complete elaboration of the services: –
- The broker provides dedicated dealer to their traders and investors.
- They provide online and offline services to the traders and investors alike. In fact, their network of physical branches is present across the nation and even abroad.
- The broker does provide email and chat support for grievance redressals.
- And, they even have a toll free number that can be used for the same. Sharekhan’s Customer Care number is 1800 22 7500.
Complaints Against Sharekhan
|Complaints (Last Year)|
|Lodged in BSE||198|
|Resolved in BSE||184|
|Lodged in NSE||218|
|Resolved in NSE||217|
Sharekhan was held responsible for multiple flaws last year. The count of complaints they received in BSE last year was 198. They managed to settle 184 of those complaints. They even received a total of 218 complaints against them in NSE. However, they effectively put rest to 217 of those.
Disadvantages Of Trading With Sharekhan
Sharekhan is one of the top brokers within India. However, that does not mean they do not have any flaws. In fact, here are a few reasons one can consider them not perfect: –
- They do not offer a 3-in-1 account to their traders and investors.
- They do not allow placing orders past the trading hours.
- They have a typical account type called the Classic. Holders of these accounts are not allowed to
trade in Commodities.
That is all we have on Sharekhan. We’ve granted you the complete information on how Sharekhan’s brokerage charges are imposed. We’ve even guided you through the procedure of getting a new Trading and Demat Account with them. In short, we have laid out all that can be said about the broker. And, we have been unbiassed in our approach. So, take your time and decide whether the broker is good enough for you.
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