SHAREKHAN

4 Overall

Sharekhan was founded by a Mumbai-based entrepreneur, Shripal Morakhia in the year 2000. Despite being late in the field, they managed to reach the heights real fast. Sharekhan is everyone’s favorite, because of their grandeur. The offerings they give are the best in the industry but their research is above average and is not as accurate as the top-notch players like HDFC and ICICI.

Brokerage Charges3.0
Platforms & Tools 4.5
Customer Service 4.0
Cons
  • Minimum brokerage of 10 P per stock would not let you trade stocks below Rs 20
  • Facility to place orders after trading hours is not available
  • Brokerage charges are % based which are higher in comparison to flat fee brokers.

Sharekhan Overview

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Sharekhan is one of India's leading full-service stock broking firms started in the year 2000. It has a wide customer base of more than 17 lakh customers. Sharekhan is also known for its widespread PAN India presence in around 575 cities having more than 2400 offices and franchises across the country.

In the year 2016, Sharekhan became a subsidiary of BNP Paribas which is a leading bank in Europe with an international reach. Sharekhan is listed on NSE, BSE, MCX, and NCDEX. Customers can not only avail services to various online trading options such as equity, derivatives, currency, and commodity but also opt for financial services like investment in PMS, MF, IPOs and bonds; advisory, research reports, online education, NRI services, and much more.

Being a full-service stock broker, Sharekhan offers numerous high-tech trading platforms and also provides research tips and recommendations to its customers. It has an in-house team of expert researchers who provide tips and reports at both fundamental and technical level as per the customers’ requirements. This allows all basic, intermediate, and advanced levels traders to study the market and understand trading-related concepts. Sharekhan provides separate research reports to Traders, Investors, and Mutual Fund Investors. According to the users, the quality of fundamental research is better than the technical research reports provided.

Apart from the entire listings mentioned above, Sharekhan offers premium level services through their relationship managers to those customers who get their portfolio monitored individually. Sharekhan offers multiple Portfolio Management Schemes (PMS).

  • PMS ProPrime focuses on long term investors who want steady returns
  • PMS ProTech focuses on absolute returns

To start trading with Sharekhan customers need to open a trading account and demat account wherein Sharekhan is the depository participant with NSDL and CDSL. Sharekhan also offers Mutual Fund services that are exceptional and highly comprehensive. It provides modern portfolio tools exclusively for mutual funds like Compare Funds, Investment Calculator, Goal Calculator, Performance Calculator, and so on.


Sharekhan Brokerage Charges

Sharekhan offers two brokerage plans: Basic Plan and Annual maintenance Scheme (Post Paid / Pre-Paid). These brokerage plans and the charges have been discussed below.

SHAREKHAN BASIC BROKERAGE PLAN

Under the basic brokerage plan, no initial deposit is required. The long-term investors and customers who have started trading generally opt for the basic brokerage plan. The advantage is that it is simpler to understand and easier to manage.

Segment Charges
Equity Delivery 0.5% of turnover
Equity Intraday 0.1% of turnover
Equity Futures 0.1% of turnover
Equity Options Rs 100 or 2.5% of premium per lot, Whichever is higher
Currency Futures 0.10% of turnover
Currency Options Rs 30 or 2.5% of premium per lot, Whichever is higher
Commodities Futures 0.10% of turnover
SHAREKHAN POST-PAID BROKERAGE PLAN

Under the Post-Paid brokerage plan, you have to deposit a certain amount of the margin money into a trading account in advance. The brokerage reduces as the margin money is high. The advantage of the Post-Paid plan is whatever funds you deposit in your trading account is refundable in nature. 

Initial Marigin Cash Leg1 Cash Leg2 Delivery FutureLeg1 Future Leg2 Next Day Options
25,000 0.10% 0.10% 0.50% 0.10% 0% 0.10% Rs 100 or 2.5% of premium per lot, Whichever is higher
40,000 0.09% 0% 0.45% 0.09% 0% 0.09% Rs 95 or 2.25% of premium per lot, Whichever is higher
50,000 0.07% 0% 0.40% 0.07% 0% 0.07% Rs 80 or 1.50% of premium per lot, Whichever is higher
1,00,000 0.05% 0% 0.25% 0.05% 0% 0.05% Rs 70 or 1% of premium per lot, Whichever is higher
3,00,000 0.04%  0% 0.20% 0.04%  0% 0.04%  Rs 50 or 1% of premium per lot, Whichever is higher
5,00,000 0.03% 0% 0.18% 0.03% 0% 0.03% Rs 40 or 0.75% of premium per lot, Whichever is higher
10,00,000 0.02% 0% 0.15% 0.02% 0% 0.02% Rs 30 or 0.60% of premium per lot, Whichever is higher
20,00,000 0.01% 0% 0.10% 0.01% 0% 0.01% Rs 25 or 0.55% of premium per lot, Whichever is higher
SHAREKHAN PRE-PAID BROKERAGE PLAN 

Under the Pre-Paid brokerage plan, you have to deposit a fixed amount of brokerage in advance. More you pay upfront, the less brokerage percentage is applied to your trading transaction. 

This plan is different from the post-paid plan, which means, whatever amount you deposit as the upfront brokerage is non-refundable in nature.

Initial Marigin Validity Cash Leg1 Cash Leg2 Delivery FutureLeg1 Future Leg2 Next Day Options
750 6 Months 0.10% 0% 0.50% 0.10% 0% 0.10% Rs 100 or 2.5% of premium per lot, Whichever is higher
1,000 6 Months 0.09% 0% 0.45% 0.09% 0% 0.09% Rs 95 or 2.25% of premium per lot, Whichever is higher
2,000 1 Year 0.07% 0% 0.40% 0.07% 0% 0.07% Rs 80 or 1.50% of premium per lot, Whichever is higher
6,000 1 Year 0.05% 0% 0.25% 0.05% 0% 0.05% Rs 70 or 1% of premium per lot, Whichever is higher
18,000 1 Year 0.04%  0% 0.20% 0.04%  0% 0.04%  Rs 50 or 1% of premium per lot, Whichever is higher
30,000 1 Year 0.03% 0% 0.18% 0.03% 0% 0.03% Rs 40 or 0.75% of premium per lot, Whichever is higher
60,000 1 Year 0.02% 0% 0.15% 0.02% 0% 0.02% Rs 30 or 0.60% of premium per lot, Whichever is higher
1,00,000 1 Year 0.01% 0% 0.10% 0.01% 0% 0.01% Rs 25 or 0.55% of premium per lot, Whichever is highe
2,00,000 1 Year 0.005% 0.005% 0.008% 0.005% 0% 0.005%  Flat Rs 10

ShareKhan Account Opening Charges
Trading Account Opening Charges Classic Account -
Rs 750
Trade Tiger Account -
Rs 1000
Demat Account Opening Charges Rs 0
Trading Account AMC Charges Rs 0
Demat Account AMC Charges Rs 450 

Sharekhan Other Charges

  • DP charges for delivery-based equity selling charged only on sell-side - Rs 16 per transaction
  • Instant payment gateway charges for over 14 banks - Rs 9 per fund transfer
  • Dematerialization Charges - Rs 5 per certificate
  • Rematerialisation Charges - Rs 50 per certificate or Rs 50 for every hundred securities
  • Pledge Creation - 0.03% of the value of the transaction (Min Rs 100)

Sharekhan Platforms & Tools

Sharekhan has all the three modules of trading platform i.e Web-based, Desktop based, and Mobile based application for trading in stock markets.

  • Desktop Terminal - Trade Tiger
  • Mobile Application - Sharkhan App
  • Web Trading - Sharekhan Web
SHAREKHAN TRADE TIGER

Trade Tiger is a desktop-based trading application that can surpass paid professional software. It is equally powerful as the terminal of a broker and user can conveniently use it through their desktops or laptops. Trade Tiger helps you trade across various financial segments such as equities, commodities, derivatives, IPOs and Mutual Funds.

It is a hybrid cloud-based application that can be easily customized according to the traders’ requirements. Unlike other platforms like Amibroker, MT4, Spider, and Falcon, which cost money, Trade Tiger is free of cost and is only available for clients of ShareKhan. It has been extensive used by the unlimited number of clients, and has seen a few upgrades and technology enhancements over the years.

Here are some of its key features: 

  • Allows trading in multiple segments from a single platform.
  • Multiple Market Watch available on a Single Screen
  • Advanced trading and analytical tools like Trade from Excel and HeatMap
  • User-defined alert settings on an input Stock Price trigger
  • Several tools available to analyze the market like Tick Query, Ticker, Action Watch, Option Premium Calculator, Span Calculator, and Market summary
  • Instant Pay in Via 14 banks
  • Provides Premium Calculator, Span Calculator

This is how the Sharekhan Trade Tiger application looks like



SHAREKHAN MOBILE APP

Over the years, Sharekhan has developed numerous mobile trading applications. When one mobile app started getting negative feedback or requests for improvement, instead of making the required changes, the firm came up with a new mobile trading application. The recent app launched is the Sharekhan Mobile App which is user-friendly and has been designed keeping both traders' and investors' requirements in mind.

On regular usage, customers have reported some issues such as, trouble while logging in, low performance in smaller cities that provide low bandwidth internet connection, and Mutual funds reports are not available. 

Listed below are some of the features of the Sharekhan App. 

  • Available on both, Android & iOS
  • Access to domestic market news, top gainer, top loser, top traded volume, top traded turnover, 52 weeks high, 52 weeks low
  • Trade, view charts & detailed quote, add to MarketWatch & virtual portfolio directly from scrip search page
  • Trade smart with enhanced live charts, reports, and trends (Line, Candlestick, Bar, and Area)
  • Search for your favorite stock easily with Advanced Future & Option search
  • Easy fund transfer from bank to Sharekhan trading account

 This is how the ShareKhan mobile trading application looks like - 

SHAREKHAN MINI

To reach out to the users based in smaller cities, which get internet at low bandwidth, Sharekhan Mini was designed.  It is a browser-based powerful trading terminal that works seamlessly at lower internet connection, without compromising on simplicity and ease of use. It works smoothly on any web browser, without the need for any installation or download. Here is the website:

https://newtrade.sharekhan.com/skweb/

Here are some of the features of this application:

  • Access to online reports and real-time market updates
  • Extensive charting with over 100 indicators
  • Millisecond order placement
  • Users can place orders directly from the charting feature
  • Advanced order types like Bracket and cover orders
  • Patter-Finder - Scans the stocks in all supported markets every night, based on the standards of Technical Analysis and delivers the information via SMS and email alerts, before the market opens the next day.
  • Works on basic smartphones with 2G internet connection
  • Data points such as 52-week high/low, gainers and losers of the day etc are displayed
  • User can invest in equity, commodity, currency and Mutual Funds

This is how the Sharekhan web trading application looks like:

 
SHAREKHAN NEO

It is an automated robo-advisory broking platform that offers research recommendations without the need for any human intervention. User can feed in the required inputs such as investment objectives, investment period, risk appetite and so on, and the system will provide all necessary recommendations regarding where to invest the money. It offers additional details like the holding period and risk levels.

It is highly recommended for users who are long-term investors and do not have much of investment and risk-taking capabilities.

SHAREKHAN COMMODITY

Sharekhan Commodity is a separate trading platform for the users who are interested in commodity trading. The investor can avail from multiple applications including, ComTiger, ComMobile, ComMini depending on the trading preferences and style. Moreover, broker provides separate customer support and research reports to these clients


Sharekhan Education & Research

Sharekhan offers Online Trading Academy (OTA), a world leader in Professional Trader Education, consisting of qualified instructors and customized courses to understand the basics of trading. OTA has trained over 3,00,000 students over the years. Users have to select the desired Module/Category in order to register for the live training. One of the best ways to learn to be a SELF TRADER in the markets is to sign up for Sharekhan Classroom.

There are multiple share market modules for traders and investors such as:

  • Wealth with Mutual Funds
  • Goal Planning
  • Investment strategies for Beginners
  • Intraday Trading
  • Positional Trading
  • Currency Trading
  • Option Trading

Apart from educating users through online classes, Sharekhan does provide stock recommendations to their clients. However, the quality of these research reports and tips are questionable as it is not as accurate and high-quality as the top-notch players like HDFC and ICICI.

Sharekhan offers a variety of online courses designed for beginners, intermediate and advanced level traders to understand the market and upgrade their knowledge about trading. There are demos of online trading apps available for users who wish to start using them.


Sharekhan Advantages

Every full-service broker has some distinct advantages and so does Sharekhan.

  • One of the top 3 full-service brokers in the country
  • Most trustable stock broking firms
  • Large offline network of offices and franchises across India
  • High-tech and innovative trading platforms
  • Free call and trade service available
  • Efficient research team with high profile research experts
  • IPO facility through ASBA and your banking account available
  • Multiple brokerage plans available
  • Offers Sharekhan Classroom to educate the clients
  • NRI trading facility available
Sharekhan Disadvantages

Here are some of the disadvantages that one must consider before opting for Sharekhan

  • Do not offer 3-in-1 account as there is no banking service available
  • High brokerage system
  • After hours order placing not available
  • Minimum brokerage charges are applicable irrespective of the trading volume, making the overall trading very expensive
  • Mobile apps for trading are weak and need improvement

Sharekhan Customer Service

Sharekhan has a large client base and one of the reasons for that is its strong communication network. Users have high expectations from the broker in terms of reliability and quality service. Sharekhan is available to its clients through the following communication channels:

  • Email – myaccount@sharekhan.com
  • Toll-Free Number –  1800-22-7500
  • Whatsapp - 7506651112/3/4/5
  • Chat (intermittently available)
  • Offline locations - ShareKhan has branches/ franchises all over India that help users to visit an office in case of inquiries or any trading issues.
  • Social Media

Online customer support executives of Sharekhan are decently trained and speak in multiple languages depending on the users' requirements. Without a doubt, Sharekhan lives up to its expectations when it comes to servicing its client base.

 

Sharekhan Closing Thoughts

Sharekhan is a big name in the share brokerage industry with a large clientele. It offers powerful online trading tools, research-based investment advice, and a dedicated customer service. However, if you are a regular trader, then Sharekhan is definitely not the best choice, as you will end up paying huge brokerage in Intraday trading. The brokerage ranges from 0.5% to 0.25% and the minimum brokerage charge with Sharekhan ranges from Rs 0.1% to 0.2%, as compared to the discount brokers like Zerodha, which is only Rs 20 or 0.01%; hence, you may want to think twice before choosing a broker.

Sharekhan is suitable for all beginners who have just started trading and need all the necessary information and training regarding trading in the share market. If you are someone who is looking for highly-trusted stock broker and are ready to pay premium brokerage charges, then Sharekhan is meant for you.