SBICAP SECURITIES

3 Overall

SBICAP Securities offers 3-in-1 account which is an integrated platform of Savings Bank A/c, Demat A/c and an Online Trading A/c. Its broking product range covers Institutional and Retail Equity, Derivatives, Depository Participant services, Online trading and a wide variety of Third Party Distribution products.

Brokerage Charges2.5
Platforms & Tools 2.5
Customer Service 3.5
Cons
  • Don't offer any discounts in charges
  • User experience is not so great
  • High AMC charges

SBICap Securities Overview

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SBICAP Securities Ltd (SSL) is the stock broking wing of the State Bank of Indian (SBI) Group and is one of the most popular names in the list of full-service stock brokers. SBICAP Securities Ltd  was started in the year 2006 and is currently present in 114 locations across the country. It is also 100% subsidiary of SBI Capital Markets Ltd. They offer a vast variety of segments of financial services to their customers, some of which are mentioned below:

  • Equity
  • Derivative Trading
  • Currency Trading
  • IPOs
  • Mutual Funds
  • NRI Demat Account
  • Home Loans
  • NCDs
  • NFOs
  • ETFs
  • Loan Against Securities

 Being a full-service broker, SBICap Securities offer 3-in-1 account service. This saves time and effort to transfer funds or maintain separate accounts for trading purposes. Overall, providing a seamless trading experience to their customers.

SBICap Securities is registered with the Securities Exchange Board of India. In addition, below are some additional benefits that SBICap Securities offers:

  • Works efficiently even on low internet bandwidth
  • Instant fund transfer facility is made available
  • Round-the-clock access to back office
  • Trades in BSE and NSE

SBICap Securities Brokerage Charges

SSL offers a single brokerage plan to trade in the market. The table below shows the brokerage charges of SBICAP Securities:

Segment   Delivery Intraday Minimum
      First Leg Second Leg  
Cash Market   0.50% 0.075% 0.075% Rs 0.05
Derivatives Future 0.05% 0.03% 0.03% Rs 0.01
  Option (per lot) Rs 100 Rs 50 Rs 50  
Currency Derivatives Future 0.03% 0.015% 0.015%  
  Option (per lot) Rs 30 Rs 20 Rs 20  
  • Intra-day Trades: 0.15% (both sides) or minimum 5 paise per share whichever is higher.
  • Delivery Based Trades: 0.50% or minimum 5 paise per share whichever is higher.
  • Futures: 0.06% for intraday and 0.08% for carrying forward or minimum 1 paise per share whichever is higher.
  • Options Trades: Rs 50/- for intraday (one side) (per contract) and Rs. 100/- for carry forward (per contract).

The brokerage structure is simpler to understand but the charges are huge compared to the competitors in the same field.


SBICap Securities Other Charges

  • Trading & Demat Account Opening Charges - Rs 850
  • Demat Annual Maintenance Charges - Rs 500
  • Offers 30 calls free in a month after which Rs 10 will be charged per call. (Maximum 3 Scrips can be inquired per call)


SBI Securities Margin

SBI Securities provides low margin values on various segments. The details are mentioned below:

  • Equity Intraday – 15 times
  • Equity Delivery – 4 times
  • Derivatives – 10-12 times
  • Commodity – 4 times
  • Currency – 4 times

Hence, if you expect high margins out of trading, then SBI Securities is bound to disappoint you.

 

SBICap Securities Platforms & Tools

SBICAP Securities supports all the three modules of trading platforms i.e. terminal based, web-based and mobile app.

  • Desktop Terminal - SBISMART EXPRESS
  • Mobile Application - SBISMART MOBILE APP
  • Web Trading - SBISMART WEB
SBISMART EXPRESS

SBISMART Express is a terminal-based windows trading platform that must be simply downloaded and installed on your computer or laptop. This is suitable for active traders who need speed and better performing platform.

SBISMART Express comes with the following features:

  • Live streaming quotes and price watch on any number of stocks
  • Intraday charts, updated live, tick-by-tick
  • Live margin, position, marked to market profit & loss report
  • Top Gainers, Top Losers, Most Active, updated live
  • Historical data is made available for analysis purpose
  • Charting functionality with technical indicators
  • Modify, or cancel pending orders
  • Research reports are available within the platfor

However, if you are a heavy volume active Intraday trader, you may face some performance issues which can make your trading experience unsatisfactory.

SBISMART MOBILE APP

SBISMART Mobile App is an in-house mobile trading app of SBICAP Securities available on Android & iOS. The application is well-designed and has a decent number of features but users might face some difficulties in terms of usability of the application. Users have also reported issues related to performance and speed. Listed below are some of the features of SBISMART Mobile App: 

  • Live quotes and messages
  • Access to live research calls from our research team, media, and other sources
  • Place orders and check order status – Modify, Square off or cancel pending orders
  • Check and manage available funds
  • Live market tracking of NSE and BSE

SBI Smart Mobile App is not the favoured trading app by a majority of traders, the reasons being:

  • Slow speed regardless of the internet connectivity
  • Delay in stock market feed
  • Log-in process is tedious
  • User-experience is not satisfactory

Mobile App is well-designed and has a decent number of features but users might face some difficulties in terms of usability of the application. 

SBISMART WEB

SBISMART Web is a browser-based trading application which works on any web browser, without the need for installation or download. To access, the user simply needs to login to the official website using their username and password, and start trading conveniently through mobile, ipad, laptop or desktop. It is a light-weight and highly responsive application.

Listed below are the top features of SBISMART Web:

  • Interactive charting tools
  • 360 degree Stock View
  • Customizable screens to add multiple widgets and windows
  • Financial, heat, and scatter maps to analyze market information
  • Easy fund transfer facility available 
  • Historical data available for technical and fundamental analysis


SBICap Securities Education & Research

Since SBICAP Securities is a full-service stockbroker, you will get access to the research reports and tips on a regular basis over the trading platforms. Some of the research products that are provided to its client base include:

  • Fundamental Reports – Users are provided with detailed research reports on specific stocks and companies from varied sectors. Market situation and corresponding impact on stocks is well discussed in the reports.
  • HeatMaps – Shows the trends of a specific stock with the help of specific color codes. Saves a lot of time for users, especially intraday traders.
  • Screeners – Shows quick glimpse of the market giving a hint of which stocks must be monitored closely. These insights are provided for equity and derivative segments.
  • Bubble Maps – Gives a relative study of different stocks all at a time providing specific movements. Different colour codes are used to make things simpler to understand.

 These research reports and recommendations can be used for personal, technical, and fundamental analysis. Another important thing related to research is Accuracy, which is where SSL needs to make improvements. In addition, performance and consistency of the tips need to be improved as well. Most often users get the tips late which affects their trading decisions.

SBICAP Securities need to pull up its stocks when it comes to research.


SBICap Securities Customer Service

SBICAP Securities is available to its clients through the following communication channels:

  • Email – helpdesk@sbicapsec.com
  • Toll-Free Number –  1800-209-9345
  • NRI Calling - 022-6153-6900

SBICAP Securities should certainly try to increase the number of communication channels such as web chat and social media, so that clients can have multiple options to get assistance on the move.

However, as of now, the communication quality is fine and the turn-around time to resolve an issue is close to 24 hours.

 

SBICap Securities Closing Thoughts

SBICAP Securities is a big name in the share brokerage industry that offers decently performing trading tools and a dedicated customer service. However, if you are a regular trader, then this stockbroker is definitely not the best choice for you, as you will end up paying huge brokerage in Intraday trading.

SBICAP Securities is relying primarily on its State Bank of India client base; however, this is certainly not a business development strategy. A happy client is a referring client which implies larger business value. And this is what is going to help the stock broking firm in the longer run.