Sharekhan Review
Overall Summary
LIKES
- Sharekhan ensures convenient trading to all its customers by providing different trading platforms including online browser-based training, installable terminal, trading through mobile and in person trading.
- Call and trade facility is free of cost.
- Online workshops, seminars, and classroom training is provided.
- Transferring shares through sharekhan from and to the DP account is absolutely free of charge.
- Online funds transfer from the bank account and Funds pay-out to the bank account is not charged by sharekhan.
DISLIKES
- After hours order placing facility not provided.
- Mobile apps as the trading platforms are just average and require more prominent features for smooth performance.
- Low exposure is given.
SHAREKHAN ACCOUNT OPENING CHARGES
| Online trading account opening fee | Rs 0 |
|---|---|
| Trading account annual maintenance charges | Rs 0 |
| Online demat account opening fee | Rs 0 |
| Demat account annual maintenance charges | Rs 450 |
SHAREKHAN BROKERAGE CHARGES
| Equity intraday | 0.01% |
|---|---|
| Equity Delivery | 0.50% or Rs 16 per scrip, whichever higher |
| F & O trades | 0.10% |
| Option trades | 2.50% or Rs 250/lot on premium, whichever higher |
| Currency futures | 0.01% |
| Currency options | 2.50% or Rs 30/lot on premium, whichever higher |
| Commodity | 0.10% |
SHAREKHAN TRANSACTION CHARGES
| SEGMENTS | TRANSACTION CHARGES |
|---|---|
| Equity Delivery | NSE Rs 325 | BSE Rs 275 |
| Equity intraday | NSE Rs 325 | BSE Rs 275 |
| Equity Futures | NSE Rs 190 | BSE Rs 50 |
| Equity Options | NSE Rs 5000 | BSE Rs 50 |
| Currency futures | NSE Rs 135 | MCX Rs 130 |
| Currency options | NSE Rs 4220 | MCX Rs 3220 |
| Commodity | MCX (Non-Agri) Rs 230 | MCX (Agri) Rs 95 |
SHAREKHAN MARGIN
| Equity intraday | Upto 10 times |
|---|---|
| Equity Delivery | Upto 5 times |
| Equity Futures | Upto 2 times for intraday |
| Equity Options | No |
| Currency futures | No |
| Currency options | No |
| Commodity | Upto 2 times for intraday |
RESEARCH
Sharekhan was incorporated in February 2000 and is currently known to be the 3rd largest stock broker in India. Sharekhan has its official website Sharekhan.com through which it provides brokerage services and also through its 1800 offices, including branches and franchises in over 550 cities in India.
Until December 2018, sharekhan had over 17lakh customers as sharekhan provides services to all kind of customers, which includes individual investors, corporations, institutions, and NRIs.
Sharekhan offers a wide range of investment options to its customers along with news regarding share market, research reports, mutual funds, IPOs and more.
Since sharekhan is a full-service broker, regular tips, advice, and recommendations are offered by the in-house research team. These tips focus on both the fundamental and technical analysis, hence helpful for long-term traders as well as short-term traders.
However, the quality of these recommendations, research and tips seem to be average as yet.
Sharekhan usually provides their representatives or relationship managers to its clients in order to give service in the management of portfolios.
It also provides a variety of account to meet customers’ needs-
- Classic Account
- Trade Tiger Account
- Platinum Circle Account
Sharekhan research team makes sure its customers receive news, stock tips, and market reports regular through email, SMS and on the official website.
Research and recommendations are bifurcated according to the customer’s investment objectives. Sharekhan has bifurcated and made the following groups:
- Research for traders
- Research for investors
- Research for mutual fund investors.
Sharekhan offers various research products within every research category. Thus, customers can select products based on their preferences.
CUSTOMER CARE
Customers tend to expect higher from Sharekhan in terms of customer service since Sharekhan is one of the biggest names in stockbroking in India. Sharekhan provides the following communication channels to its customers:
- Toll-free number
- Phone
- Chat
- Social media
- Sub-brokers and Franchise offices
Sharekhan always tries to keep up with good customer service and thus provides various communication channels to always be in contact with its clients. Support executives are well trained and often speak in different languages, suiting the needs of users.
Sharekhan is known to provide desired customer service to its clients and thus holds one of the highest customer base in India.
ShareMobile-Mobile Trading app
FEATURES
Sharekhan Trade Tiger
FEATURES
SHAREKHAN MINI
FEATURES
SHAREKHAN NEO
Sharekhan introduced this in order to provide robo-advisory and automated recommendations without getting involved humans.
Specific information is required to be mentioned and then tool with recommendations will show up, telling where money should be invested along with holding period and risk level.
Specific details that need to be entered can be investment objective, preferred investing period and more. This works towards:
- Goal planning and risk profiling
- Personalized investment guidance
- Portfolio monitoring
It provides 6 recommendations according to the information you provided. This tool broadly provides an idea of how you should manage your portfolio along with the distribution of funds in each recommended category.
EDUCATION
Sharekhan provides a SHAREKHAN CLASSROOM, where traders or investors can learn more about the concepts of trading and investment in Indian stock market. It offers various share market modules for traders and investors. Also, trading application demonstrations are provided regularly.
For investors, it has modules such as:
- Wealth with mutual funds
- Goal Planning
- Investment for beginners
The following modules are helpful for traders and users who aim for short-term profits:
- Intraday trading
- Positional trading
- Option trading
- Currency trading
Modules for future and options trading are present as well.
Additionally, demos of online trading apps such as Sharekhan mobile app, trade tiger etc. are provided to its customers.
HOW TO OPEN AN ACCOUNT
You would require a Trading and Demat account to trade in equity and invest in equity with Sharekhan.
You can open an online trading and demat account with sharekhan in 2 ways:
- Go to sharekhan official website and go to an option, ‘open an account’. Once you do it and put in your contact details on the right side of the page, a sharekhan advisor will get in touch with you to set up a meeting either at your home or office. There you can ask for detailed information and demo of sharekhan offerings for opening an account.
- Another option is to search for a local office of a sharekhan sub-broker and contact them. They will get back at you and arrange a meeting where you can get further details.