Sushil Finance is India’s premier provider of financial services, specializing in stock brokerage and market research. It was created by Mr. Sushil N. Shah in 1982 and has established a solid basis in the Share market via its specialized expertise.
In this article, we will demonstrate the actual value and credibility of Sushil Finance by conducting an in-depth analysis of its products and services, the brokerage rates they charge, whether or not they charge any other fees in addition to brokerage and how much they would be, their various offers and deals, etc.
Importantly, we will also provide information on the company’s trading platforms and whether or not they are user-friendly.
About Sushil Finance
Mr. Sushil N. Shah founded Sushil Finance in 1982 in Mumbai, Maharashtra, as a private full-service broker. With over three decades of success in the financial market, they have been able to sustain over 120,000 satisfied clients and an asset worth of over 6,000 Crore.
They operate in over 21 states and more than 148 locations, and have over 450 Business Partners that increase their business year. Their extensive and varied product selection ensures that they have something for every consumer that enters their business.
Sushil Finance offers in Equity, Initial Public Offerings, Currencies, Mutual Funds, Insurances, Online Trading, and a great deal more. They are registered with BSE, NSE, MCDX, and NCDEX, thus you have the option to trade on various exchanges under one roof.
Sushil Finance Strengths And Weaknesses
- More than 570 sub-brokers are located in about 227 cities around the nation.
- Researching small and mid-cap companies is a breeze with Sushil Finance, which gives frequent alerts and profit booking.
- Free telephone and Trade services
- High openness about commissions and other extra fees.
- A vast selection of investment opportunities and the ability to trade in several market sectors Lowest brokerage fees in comparison to competing brokers.
- With the aid of offline branches, sub-brokers, and efficient customer service, the offline hold is maintained with great vigor.
- Sushil Finance falls short of providing its clients with substantial leverage and exposure.
- The trading platforms must be enhanced in terms of innovation and optimization. Sushil finance could consider providing frequent upgrades to its trading platforms in order to enhance the performance of its clients.
How to open Demat Account with Sushil Finance?
Sushil Finance encourages traders from all over the nation and the world to join and begin trading with them. This is why, if you observe, they have a blue tab that reads “Open An Account” prominently displayed on the front page of their website. The account opening method is quite straightforward and may be described in the following steps:
- A pop-up form will show when you click the “Create Account” button on the site.
- You may submit your basic information there, register online, or phone their customer service number and someone will call you back to complete the registration process.
- If you prefer to call, all you need to do is leave a missed call at 08045936028, and they will get back to you immediately with their application procedure.
- If you wish to fill out the form, you just need to include your name, email address, telephone number, city of residence, and postal code.
- After entering all of this information and clicking the Register button, you will be sent to the Account opening form page. Here, you must provide further information about yourself, like your entire address, bank account information, Adhar and Pan Card numbers, etc.
- Thereafter, you will be invited to upload your KYC papers; you can upload your PAN card, Adhar card, proof of residence, and one photograph.
- After uploading all required papers and clicking “Submit,” you will receive an application ID number for your records.
- Once the registration procedure is complete, their customer care team will contact you to validate your papers and verify your identity. Upon successful completion of the verification procedure, the Sushil Finance organization will provide you with your Trading and Demat account information. This is how you may begin.
Why Register for a Sushil Finance Trading Account?
All traders are required by the Trading regulatory board of India to create a trading account. Anyone who want to trade stocks must have both a Trading and Demat account.
Moreover, as you can see, opening an account with Sushil Finance is rather simple and uncomplicated. One can create an account and get started without having to visit a bank or complete a large number of paperwork requirements.
If you are still unsure as to why Sushi Finance is your sole option for a Trading account, consider the following:
- The fact that they have been in business for almost three decades says eloquently about their longevity and the confidence they have earned among the public.
- The company’s strong and vigorous commitment to research ensures that they are constantly at the forefront of performance. They have only been able to achieve perfection thanks to the robust research and analytics they provide their clients.
- The breadth of their product selection demonstrates that they care about their clients and do not want them to waste time looking elsewhere.
- Their simplified investment plans also incorporate a substantial amount of development chances, since clients can readily relate to what is being given and are hence more receptive to enrolling in them.
Trading Platforms of Sushil Finance
As a full-service stockbroker, Sushil Finance provides exceptional trading platforms across all segments and devices, including Desktop, Laptop, mobile, and the online.
The user may select a trading platform depending on their individual interests and preferences. Determine which of Sushil Finance’s trading platforms are the best.
I. Sushil Finance PowerTrade
It is an executable file designed for Windows-based desktop computers and portable devices. Power trade may be downloaded and installed on your computer with a few mouse clicks.
It is primarily intended for heavy merchants. The program is extensively optimized to fulfill all power trading requirements.
Here are some Outstanding PowerTrade Features:
- It is connected with market monitoring capabilities that allow traders to monitor certain stocks across all trading segments.
- For ultra-quick order placement or trading, it has predefined shortcut keys, or the user may construct customized shortcuts depending on their trading style.
- Multiple conditional tickers are available to facilitate rapid transaction analysis and improve your trading success.
- The customers will have the ability to make After Market Orders (AMO), allowing them to trade long after the stock market has closed.
- The trading program allows users to design a customized portfolio based on their trading habits and management abilities.
- PowerTrade from Sushil Finance has many indicators for displaying EOD and intraday charting.
- However, the program occasionally fails to provide swift performance due to its bloated interface and setup.
- Therefore, if you are a newbie trader, trading using this program is a poor decision, since you will spend the majority of your time learning the software.
II. Sushil Finance Swift Trade
Web-based trading is the only option if you do not wish to trade using any applications or software. This full-service broker provides Sushil Finance Swift Trade web-based trading terminals.
It is quite lightweight and can be accessible with a simple link, allowing you to trade from anywhere.
Here are some of this web-based trading terminal’s top features:
- Even with a slow Internet connection, this trading platform operates well.
- For active trading, you will receive research-based information, advice, and market-based reports. Additionally, you may create preferences to receive the preferred stories.
- Users may establish unique preferences and receive individualized market watch lists for most effective trading.
- Swift Trade is connected with over 40 national banks to facilitate the movement of funds electronically.
- Aftermarket orders (AMO) can also be placed using this trade platform.
- If you frequently travel and want to trade on the move, but are concerned about internet access and speed, you might consider a VPN.
- Swift Trade is the ideal solution for you since it functions effectively with little bandwidth and offers a large variety of capabilities.
III. Sushil Finance SavaShare
HTML5-based Sushil Finance SavaShare is a web-based trading platform. There is no installation required; simply log in with your credentials and begin trading.
This web-based platform is device-independent; you may trade with excellent precision and responsiveness from any device you want.
Succulent Finance SavaShare is a lightweight web-based platform that includes the following features:
- It is connected with the back-office system to create reports based on market conditions.
- It provides numerous market monitoring lists based on the trading behaviors and preferences of the user.
- When you trade using our platform, your trading transaction data and history will be kept in an orderly fashion.
- SAVASHARE allows both premarket and After Market Orders.
- It highlights the leading losers and gainers to inform you of any fluctuations. It also contains all active shares on the list.
IV. Sushil Finance SavaShare Mobile App
Regarding the SavaShare Mobile application, it is still in the development phase. In other words, it involves a great deal of improvisation, including optimization.
According to client feedback, this mobile trading application is lacking in several areas.
Let’s examine some of the most advantageous aspects of the SavaShare Mobile App:
- The market watch-list can be modified based on the client’s trading habits and personal preferences.
- You will have access to over 40 bank accounts for transferring money from your trading account to your bank account and vice versa.
- It is too simple to place buy and sell orders with only a few clicks.
- As a customer, you will receive free suggestions, reports, and advice through the SavaShare mobile application.
- In addition to intraday charting kinds and functionalities, this mobile application also provides historical level analysis.
- The market depth function allows users to view the top five bids and offers.
- You can transfer funds from your trading account to your bank account in a safe manner.
Here are some challenges encountered by users while trading through the mobile application for Savashare:
- The user interface and experience are not optimally designed. Primarily traders complained about the typeface, which makes it difficult to understand each piece.
- Few functions are implemented into the app.
- Very seldom updates are provided by Sushil Finance.
Therefore, if you are a beginner in the trading industry, this program will not dampen your spirits. However, if you are an experienced trader, you will find this program to be unproductive and underperforming.
V. Sushil Finance Connect Mobile App
The Sushil Connect mobile app is the second mobile trading application that Sushil Finance offers to its traders for effective and lucrative trading.
- Sushil Finance offers many trading platforms. However, we require specific information on the primary features of this mobile trading app:
The primary advantage of this mobile app is that it has guest login options, allowing users to access basic functions such as research.
- It provides a family portfolio, including trading ledgers, and assists you in analyzing your daily gains.
- Users will have access to a market depth report that allows them to assess every deal prior to market changes.
- This application provides effective real-time notifications and alerts that primarily facilitate profitable trading bids.
- By employing Mark to promote the summary function, you will have a rough estimate of your earnings and losses.
- Numerous price alert notifications keep you abreast of all stock price fluctuations.
- The Pay Online function streamlines the entire process of transferring funds with only a few clicks.
Here are some concerns encountered by Sushil Connect mobile application users:
- In comparison to other stockbrokers, the general appearance and user experience of this program are dated and rudimentary.
- This application does not provide full trading functions. Similarly, the logout feature is absent from this application.
Sushil Finance Pricing And Charges
This section contains all the information on Sushil Finance Fees. For trading with Sushil Finance, you must evaluate each and every fee, including brokerage fees, account opening fees, transaction fees, and other fees imposed by the Indian government.
I. Sushil Finance Account Opening Charges
- The account opening fees are rather low, and so are the monthly maintenance fees. However, these fees might be removed if you initially fund your trading account with a substantial sum.
- By paying Rs.750 in trading account opening fees, starting a trading account with Sushil Finance is a quick and straightforward process.
- Nonetheless, this broker does not impose account maintenance fees.
- The cost to create a Demat Account at Sushil Finance is Rs. In addition, there is a Rs 300 annual maintenance fee for your Demat account. The client can trade with only Rs – 10,000 in margin funds.
II. Sushil Finance Brokerage Charges
- Sushil Finance, as a full-service broker, will assess a particular amount of brokerage fees based on trading volume.
- You can negotiate brokerage costs and plans based on the user’s trading pattern and trading volume; your trading turnover will help you reach the lowest possible rates compared to other traders.
III. Sushil Finance Transaction Charges
- The transaction fee charged by Sushil Finance for Equities delivery and intraday equity trading is 0.003255 percent.
- In the case of equities options and currency options, however, the premium is charged at 0.051 percent. Lastly, the transaction fee for equities futures and currency futures is 0.002100 percent, whereas the fee for commodities futures is 0.002800 percent.
III. Other Sushil Finance Fees
The user would be charged 0.00002 percent of entire turnover in SEBI turnover fees. In addition, when they trade themselves, they must pay STT fees of 0.0126 percent of the overall turnover.
However, the stamp tax varies from state to state, ranging from 0.002 percent to 0.004 percent. 18 percent GST on the Brokerage Fee and transaction fee. Additionally, this broker adds 18 percent GST on margin funding.
When a person closes their account, they are not required to pay any fees. On each trading segment, you will be charged Rs. 50 for reactivation. Sushil Finance’s Dematerialization Charge is merely Rs. 30.
This full-service broker is an all-inclusive bundle that delivers competitive margins. Sushil Finance does nothing exceptional to distinguish itself from other large stock brokers.
This broker must provide more perks to its clients in order to remain competitive and attract more business. Sushil Finance must improve its brokerage, margin technology, and customer service, among other areas. Thus, we conclude that Sushil Finance is India’s average stockbroker.