HDFC Securities Brokerage Review

HDFC Securities was launched back in April 2000 as full-service stockbroker and is a subsidiary of HDFC Bank.

Since HDFC securities is linked with the banking services of HDFC bank, offers 3-in-1 account including bank, demat and trading account. 3-in-1 account helps facilitate a quick online transfer of funds between bank and trading accounts.

HDFC Securities hold customer base of more than 6lakh as of 2018, making it the 3rd largest stockbroker in India.

Overall Summary

 

LIKES

  • It offers 3-in-1 account feature that enables users to transfer funds quickly and easily between bank and trading accounts.
  • NRI account is available.
  • Provides trading education to the users.
  • Users can invest in IPOs, postal saving schemes, GOI bonds, and Insurance through the website.

DISLIKES

  • Commodity trading not available.
  • Brokerage charged is high as compared to other brokers and non-negotiable.
  • Research and tips via SMS are chargeable.

Commissions & Fees

HDFC SECURITIES ACCOUNT OPENING FEE

HDFC SECURITIES BROKERAGE CHARGES

HDFC SECURITIES TRANSACTION CHARGES

LEVERAGE GIVEN BY HDFC SECURITIES

HDFC SECURITIES

HDFC Securities was launched back in April 2000 as full-service stockbroker and is a subsidiary of HDFC Bank.

Since HDFC securities is linked with the banking services of HDFC bank, offers 3-in-1 account including bank, demat and trading account. 3-in-1 account helps facilitate a quick online transfer of funds between bank and trading accounts.

HDFC Securities hold customer base of more than 6lakh as of 2018, making it the 3rd largest stockbroker in India.

It has more than 260 branches in India. The segments in which customers can trade and invest in:

  • Equity
  • Currency Trading
  • Mutual funds
  • IPOs
  • ETFs
  • Bonds
  • Fixed Deposits
  • Insurance

Since HDFC Securities is a full-time broker, it provides constant tips and recommendations to its clients by research calls and reports. These are given through:

  • Email
  • SMS
  • Trading platforms

TRADING PLATFORMS AND TOOLS

HDFC SEC

Users can get access to web trading through browse-based application of HDFC Securities “Trade.HDFCSec”. Users can have their hands on this application through desktop, laptop, or mobile.

FEATURES:

  • Provides advanced charts for better technical analysis.
  • Users have access to research reports, tips, and news through this application.
  • Also, market watch lists can be customised as per one’s requirements.

HDFC SECURITIES BLINK

HDFC Securities Blink is a terminal trading platform which users can download on their desktop or laptops and follow the further steps to install it and can start trading thereafter.

PRICE

Rs.2999 for 6 month subscription

Rs.3999 for 1 year subscription

FEATURES:

  • Users get the latest tips and research reports.
  • Orders in Equity and F&O can be placed in a single screen.
  • Provides advanced charting features along with multiple types of charts, technical indicators, and option strategies.
  • For technical analysis, users can access minute by minute stock movement and for fundamental analysis, it can go up to last 20 years.
  • It also displays real-time market quotes across various indices.
  • Users can watch their transactions and summary of the portfolio.

DISADVANTAGES

  • There is no option for taking a trial before actually paying for the terminal. Users have to straightaway take the subscription if they want to trade through this terminal.
  • Beginners may find this terminal complex and difficult to operate.
  • NRI or foreign customers do not get access to this terminal.

ADVANTAGES

  • It provides numerous features and reliable option for heavy traders.
  • Trade and investment can be done in multiple segments at a single go.

HDFC SECURITIES MOBILE APP

HDFC Securities offers a mobile trading app to its customers which is compatible in Android, iOS and Blackberry devices.

Through this app, users can trade and invest in Equity, derivative trading, currency trading, mutual funds, and ETFs.

FEATURES:

Being a full-service broker, HDFC securities mobile app provides research, tips, advice and recommendations at fundamental and technical level.

Homepage shows market watch with stock values, market movement and difference being in opening and closing prices.

  • To buy, sell, look at the recent quote or analysis of the trend of stock, users only need to do a single tap.
  • To invest in mutual funds, one can get multiple data points that assist to acquire a quick look at risks associated with funds and returns.
  • Charting functionality provided in the app can provide details of the overall performance of the stocks at intraday and historical levels.
  • Order placing feature provides many details one can select from such as transaction type, number of stocks, type of order etc.
  • Detailed information is provided of the transactions made.

DISADVANTAGES

  • When in a small city or using a low internet bandwidth, speed of the app can get affected.
  • Users can face login problems.

ADVANTAGES

  • Users get Research tips and recommendations free of cost through this app.
  • Mobile app is frequently updated and new features are introduced.

CUSTOMER CARE

HDFC Securities offer the following communication channels to its customers:

  • Email
  • Regional Customer care phone number
  • Offline branches
  • NRI desk

Since HDFC Securities is a full-service stockbroker, the expectations for customer service remain high. The broker seems to provide the desired response to the problems raised in a way that the customer care team is efficient and known about the products and services provided to the customers.

However, it can be noticed that communication channels offered are limited and channels like a toll-free number, web chat, chat-support should be added for providing better and quick services to its clients.

Phone:(local code) 39019400
NRI helpdesk:022-28346685
NRI fax:91-22-2834-6690
Email:customercare@hdfcsec.com
NRI Email:nrihelp@hdfcsec.com

The customer care support is available from Monday to Saturday from 9am to 11pm.

OTHER NOTES

HOW TO OPEN AN ACCOUNT

There are two ways one can open an account with HDFC Securities:

An online Contact Us form can be filled on HDFC Securities website which requires you to enter your name, phone number, email address, and city. Hereafter, a representative will get back at you for further process.

You can visit the nearest branch of HDFC Bank and fill out an application for opening an account.

After submission of the application form, application gets processed at their central processing unit and forwarded to HDFC bank to link/open bank and depository accounts. All details, telephonic identification numbers, and passwords are sent to you once your account has been opened.

FINAL NOTES

HDFC Securities is a well reputed full-service stockbroker due to its exhaustive trading platforms, research and tips, and quality customer care support. It is an ideal option for traders who are active, in other words, heavy traders can go for it.

However, for beginners or casual traders who want cheap brokerage, it may seem to be unreliable as HDFC securities charge high brokerage.