Sharekhan is India’s third-largest stockbroker, having been founded in February 2000. (after ICICI Direct and HDFC Securities). Through its online trading website Sharekhan.com and its 1800 offices, including branches and franchisees in more than 550 Indian cities, Sharekhan provides brokerage services in the country’s stock exchanges. Despite the fact that Sharekhan’s online trading platform and franchise network are both quite profitable, the company has grown tremendously over the past decade or so. In addition, Sharekhan has a presence in the United Arab Emirates and Oman.
Individual investors and traders, corporations, institutions, and non-resident Indians (NRIs) can all use Sharekhan’s services. More than 17 lakh people have used Sharekhan by the end of last year. Commodities trading on MCX and NCDEX is available through Sharekhan’s execution services for equities cash and derivatives. Depository services (Demat account) and mutual fund and IPO investment options are also available through Sharekhan.
Overview Of Sharekhan
Sharekhan is the best stock market platform in India. Investment alternatives, stock market news, research reports, stock quotations, fundamental and statistical information across stocks, mutual funds, IPOs, and more can be found on the well-designed website.
Sharekhan’s new app is simple to use and has been modified to meet the needs of its users. Aside from a brand new style, this platform offers a wealth of tools for investors and traders alike. It’s now easier than ever to start trades, follow your stock prices, and manage your portfolio all from the same location.
Additionally, Sharekhan provides individual investors with the most popular trading terminal ‘Sharekhan Trade Tiger‘. For traders who often place and execute orders, Trade Tiger is similar to Broker Terminal in that it provides a fast way to do so. Mobile trading is available through Sharekhan’s “ShareMobile” platform. Apps for the iPhone, iPad, Blackberry, Android, and other popular smartphones are available.
With Sharekhan you may invest in IPOs, mutual funds (including insurance and bonds), a variety of insurance products (including NCDs), and more. Depository participants NSD and CDS list the company as offering Sharekhan Demat Accounts as well.
Sharekhan offers a variety of accounts to meet client demand. It includes Sharekhan First Step, Sharekhan Classic, and Trade Tiger accounts as well as Portfolio Management Services (PMS) through Sharekhan Platinum Circle Account.
Sharekhan has its own research teams which frequently provide investing advice, stock tips, quarterly business result analysis, and news notifications to its clients through email, SMS, and on Sharekhan.com. Sharekhan provides an amazing information center on its website to aid stock and commodity market investors of every sort. Free online and classroom seminars/workshops are also available on investors’ websites. Online and face-to-face support is available to all of Sharekhan’s customers.
Advantages And Disadvantages
Sharekhan’s benefits and drawbacks are outlined in the next section so you’ll know what to expect when you sign up for an account.
Advantages-
- In order to suit the demands of its consumers, Sharekhan offers a wide range of trading platforms. Trades can be conducted in-person
- at branch offices or online using a web browser, with installable terminals or on the go through mobile or call-and-trade.
- It offers a variety of brokerage slabs to meet the requirements of varied clients. If you trade a lot, you’ll pay less in sharekhan brokerage charges. It’s
- possible to choose from a variety of different brokerage structures.
- Investors may take advantage of Sharekhan’s seminars and workshops, which are offered both online and in person.
- Sharekhan’s online funds are completely free. Funds are moved from a bank account to a bank account and vice versa.
- Sharekhan does not charge for DP transactions. There is no charge for transferring DP shares across accounts.
- Sharekhan has a branch network across the United States. Almost sure, you’ll find a Sharekhan in your neighborhood.
Disadvantages-
- As far as I know, it doesn’t offer any sort of financial services whatsoever. As a result, there is no 3-in-1 account.
- In comparison to flat fee brokers, sharekhan brokerage fees are calculated as a percentage.
- Ten pence per share is levied as the minimum brokerage fee. Trades for less than 20 rupees would not be allowed.
- Orders cannot be placed outside of normal business hours.
- Members with Classic accounts are unable to purchase commodities.
- During the last several years, Sharekhan has established itself as a dominant player in the market. Although the company has a history of technological innovation, it has chosen to focus instead on consistently improving the quality of its goods and services. Because of this, Sharekhan allows you to trade on all of the main commodities exchanges from one platform.
Most Compelling Reasons To Sign Up For A Sharekhan Trading Account Are As Follows:
- Online trading was introduced to Indian investors and traders by one of India’s earliest brokerage firms.
- A large network of more than 2,600 locations in 575 cities and 28 states awaits your visit, ready to provide you with some of the greatest services and products in the business.
- Many times before, Sharekhan has been acknowledged for his contributions to the field of mathematics. They have received several honors. To meet the needs of their customers, they provide a variety of trading platforms, including an Installable terminal, mobile, and phone & trade, branch offices, and online browser-based trading.
- Customers can choose from a variety of brokerage tiers. The more you trade, the lower your sharekhan brokerage charges will be calculated by brokerage calculator sharekhan. There are a variety of brokerage options accessible to you via them.
- They provide online and classroom training, as well as conferences, tours, and workshops, for investors. ‘
- There are no fees associated with DP transactions. To and from the DP account, the transfer of shares is completely free of charge.
- Branches of Sharekhan may be found around the country. A Sharekhan branch is likely to be near you.
- Sharekhan’s Call & Trade services are completely free.
- Futures and options trading can also be done with a set deposit as collateral.
How To Start An Account
It just took two days to establish an account, thanks to its simplicity and efficiency. Here’s how it’s done:
- Fill out an online registration form with your contact information, including your name, phone number, and email address.
- After that, a customer service representative contacts you through phone or email to let you know what documentation you’ll need to provide in order to create a trading account.
- Verification is the final stage, in which you must upload the necessary papers.
The following papers (all of which must be self-attested) must be uploaded:
- A duplicate of your PAN card is required.
- An Aadhaar card, ration card, passport or driver’s license, or a bank statement from the last two months are acceptable forms of residency proof.
- Account information: a check leaf with your name printed on it, or a duplicate of the first page of your passbook together with the most recent transaction record, or the most recent bank statement.
- Two copies of a recent passport-size picture
The following papers must be uploaded as part of the registration procedure if you intend to trade futures or options:
- An acknowledged copy of the most recent six months’ worth of bank statements
- Current pay stub
- Net worth certificate signed by a chartered accountant and verified by a copy of Form 16 for salaried persons
Sharekhan Charges 2023
- Account Opening Fees & Annual maintenance charges (AMC)
- Opening a trading account costs Rs 0 (One-Time) (Free)
- It costs zero rupees each year to maintain trading (Free)
- Account opening fees for depository services (one only): Included in the opening costs of trading accounts
- Demat Account AMC: Rs 400 (Free for 1st year with a trading account.)
Sharekhan Trading Brokerages Charges:
- Intraday equity cash trades: 0.10 percent on the purchase side.
- Trades in Equity Delivery: 0.50 percent, 10 paisa as per share or Rs 16 per scrip, whichever is larger.
- 10% on the first leg, and 10% on any subsequent day if the trade is squared off.
- Premium: 2.50 percent, or Rs 250 per lot, each option trade (whichever is higher).
- 0.10% in currency futures.
- 2.50 percent or Rs 30 per lot on premium for currency options (whichever is higher).
- 10% of the product.
Sharekhan’s Lowest Possible Commission:
There is a minimum fee of 5 paise per share for intraday trades with Sharekhan. A minimum fee of 5 rupees per share would be imposed for intraday trading when the share price is less than Rs 50.
Sharekhan levies a minimum brokerage fee of 10 paise per share for delivery-based trades. This indicates that a minimum brokerage charges in sharekhan of 10 paise per share is payable for delivery-based trades when the share price is less than Rs 20.
When a sell transaction has a total traded value of less than Rs 3200, DP fees of Rs 16 per scrip are levied.
Platforms For Sharekhan Trading
Sharekhan provides a variety of trading platforms to meet the demands of its Indian customers. In this section, we’ll get to know them better.
Sharekhan Trade Tiger
As a stock trading program that can be downloaded and installed on investors’ computers, Trade Tiger by Sharekhan is a terminal-based stock trading application. It has been compared to the power of a broker’s terminal. Trading in shares, currencies, commodities, derivatives, initial public offerings (IPOs), and mutual funds is made easier with Trade Tiger.
It is possible for traders to create their own unique market watch lists and retrieve them from several computers simply by Sharekhan login into the Sharekhan trading platform. The following are some of the well-known aspects of Trade Tiger:
- Comprehensive study and stock analysis may be done using the best-in-class market charts
- Through its affiliation with 14 major banks, it offers quick payment in and payment out.
- The specialized technical and fundamental research desk provides easy access to all trade calls, market research, and advice.
- Customized notifications and alerts based on user choices for quick stock and exchange market reminders.
- This trading program is well-liked by traders, who appreciate how well it works. Trading stocks with Trade Tiger is the finest option available to them.
Sharekhan Mini
The brokerage company has developed Sharekhan Mini, a browser-based trading tool specifically for dealers in small cities, districts, and villages throughout India. Even on a slow Internet connection, this platform performs admirably. Because of this, even if you just have a 2G internet connection, you can still trade in stocks. Following are a few of the app’s most notable features:
- Charts and corporate information may be used to do basic level analysis for traders.
- Investment options include stocks, commodities, currencies, and a variety of other types of assets such as mutual funds.
- Data points such as the 52-week high/low, the winners and losers of the day, and so on, are displayed.
Sharekhan Trading App for Smartphones
Sharekhan’s mobile-based trading application has been plagued by problems in the past. Over the last two years, the brokerage company has developed a slew of mobile apps. However, traders and investors were dissatisfied with the app, so it decided to build a sharekhan app download instead of resolving the app’s flaws.
Sharekhan has just introduced a new app that bears the company’s name in its whole. The program. According to Google Play and the Apple Store, the app has received a generally favorable response on the grounds of speed, performance, and accuracy. An excellent feature of the Sharekhan Mobile Trading App is:
- Diverse trading of goods and services
- There are constantly updated studies, news, and market trends available on the web.
- Financial institution-to-financial institution fund transfer
When it comes to the mobile application, there are several issues to address.
- Login is an issue.
- Slowdowns are more pronounced in smaller cities, where internet bandwidths are lower.
- Mutual fund investment reports are not available online.
Instead of human assistance, Sharekhan’s Neo system generates suggestions entirely on its own. Input specifics are required, and the program will take advice on where to invest your money, how long to retain it, and how much risk to take.
Many questions will be asked of a trader, such as what their investment aim is, how long they desire to invest, and what their risk tolerance is?
It’s recommended for long-term investors and those without a lot of investment or analysis expertise.
Conclusion
Sharekhan stands as a major participant in the business, offering everything from trading platforms to instructional materials. To begin with conventional brokers should avoid using Sharekhan, because of the high brokerage fees they must pay the broker while trading intraday, this is the situation. In the case of traders and investors who are prepared to pay a premium brokerage fee in order to have a high level of confidence in their stockbroker, Sharekhan is an excellent choice.
Frequently Asked Questions
1. Who is the founder of Sharekhan?
Ans: Sharekhan was started in 2000 by Jaideep Arora.
2. Is Sharekhan a low-cost brokerage firm?
Ans: Not at all, Sharekhan is not the lowest brokerage charges firm In India. Sharekhan is a Full-Service Broker. Investment advice and stock analysis is often provided by full-service brokers to their customers. It’s also expensive to use a brokerage service.
3. Does Sharekhan offer comprehensive brokerage services?
Ans: A full-service broker is available in India through Sharekhan. Investment advice and stock analysis is often provided by full-service brokers to their customers. It’s also expensive to use a brokerage service.
4. Is Sharekhan a reliable person?
Ans: Yes, Sharekhan is a reputable Indian brokerage. Any stockbroker who wishes to trade on behalf of a customer must first get from SEBI a Certificate of Registration (CoR). Sharekhan is a SEBI-registered broker with several years of experience in the stock market. In 2000, it was formed.
5. Is Sharekhan a secure place to invest money?
Ans: Just like any other SEBI-registered stockbroker, Sharekhan may be used to make trades in the market. There is a common fear among novice traders that they may lose all of the money they have invested. Such fear, however, is unfounded.
6. Does Sharekhan suit newcomers?
Ans: If you’re a newbie stock trader, you’re likely to go with the most affordable stockbroker. Discount stock brokers are perfect for novice stock traders since they meet all of their needs. Sharekhan is a Full-Service Brokerage Firm. Although it may be useful for new investors, they should be aware that the brokerage fees are somewhat hefty.
7. Is Sharekhan a no-cost option?
Ans: Sharekhan is a Full-Service Broker. Brokers charge varying fees depending on the type of asset they are dealing with. A discount broker often costs less than a full-service broker. Research and advising services are cited as a way to justify the fee.
8. How much does Sharekhan charge for brokerage services?
Ans: For each asset type, Sharekhan charges a separate brokerage fee. Among the fees charged by Sharekhan are 0.50 percent for equity delivery, 0.10 percent for equity intraday, 0.10 percent for equity futures, and Rs. 100 per lot or 2.5 percent on the premium (takes a higher amount) for equity options, 0.10 percent for currency futures, Rs. 30 per lot or 2.5 percent on premium (takes a higher amount) for currency options, and 0.10 percent fee for commodities trading.
9. How do I get started with Sharekhan?
Ans: Getting started with a Sharekhan trading account is a breeze. Visit Sharekhan’s official website and use the account opening link to input your contact information, such as phone number, name, and email address. Try signing up for an account on the broker’s website, and most brokers will allow you to do it totally online. To open an account with Sharekhan, you’ll need to provide your Aadhaar card, your Pan card, and evidence of your income. Your trading/Demat account will be active after the verification of these papers.