If you are thinking to open an trading and demat account with Sharekhan than you should read this Sharekhan review before doing so, reason being this Sharekhan review will help you to access all the information at one place in a nutshell.
Whether you want to know about the brokerages, margin, trading platform, account opening charges or any other important aspect related to them this post has all the information.
So, let us begin by looking at a history and than we gradually move on to other important features.
Sharekhan was Founded by SSKI Group in the year 2000 and is a subsidiary of BNP Paribas since November 2016. BNP Paribas is among the leading corporate banks in India. BNP Paribas Group is a leading European bank with a strong global footprint across 71 markets and more than 202,624 employees.
BNP Paribas is also listed in Euronext Paris, France’s securities market. However, Sharekhan is not listed in India on any exchanges as of now.
Sharekhan is also one of the first brokers who started online trading in India. As per NSE data Sharekhan currently have 6,74,407 active clients and around 20 lakh total customers. They have around 153 branches and more than 2400 business partners spread across over 541 locations.
Sharekhan offers a wide range of savings & investment solutions including equities, futures and options, currency trading, portfolio management, research and mutual funds. Sharekhan offers trade execution facilities for equity cash and derivatives segments on BSE and NSE, commodities trading facilities on MCX and NCDEX.
They have partnered with both CDSL and NSDL for depository services. Other than this they are also in education related to finance.
Other than this Sharekhan also offers NRI service for non-resident Indians.
Let us now review Sharekhan on brokerages it charges to its customer in different segment. However, I must tell you in the era of discount broking companies such as 5Paisa, Fyers, Zerodha, who offers flat brokerages of Rs.20 per order or even below, Sharekhan is still charging the much higher brokerage.
Recently, i have heard news about Sharekhan coming to discount broking business and most probably they will going to launch the product in 2021, I hope than this brokerage charges will not impact new traders and investors to be part of them.
Having said that, may be the brokerages are little high but there are lot of other services offered by Sharekhan being a full-time broker such as stock recommendation, investment in bonds, SIP, portfolio management service etc.
Below is the default brokerage plan for customers who don’t choose any particular subscription plan for brokerage.
|Brokerage Charges||Basic Plan|
|Equity Options||Rs.100 per Lot or 2.5% of Premium (whichever is higher)|
|Currency Options||Rs 30/- per lot or 2.5% on premium (whichever is higher)|
0.1% means Rs.100 on 1 lakh, which is quite high.
Other than above they have a prepaid brokerage plan, it means you pay a subscription fee upfront to reduce the brokerages while you trade. Below is the list given for the brokerage charges according to the upfront fee paid.
As you can see, if you opt for any plan you need to pay the subscription fee on yearly basis, the margin does gets reduced but you have to make sure whether the trading frequency of yours in a year are even worth by paying a fee.
I was afraid to tell the margin offered by Sharekhan due to the recent changes in the margin rules for intraday products in Cash & FNO.
The upfront margin collection in cash segment has been kept at flat 20%, which means now the leverage for all stocks would be 5x also the penalty provision for short-collection/ non-collection of upfront margin in cash segment has been postponed till 1, December, 2020.
This means regardless of any broker you won’t get more than 5X times margin in equity cash segment and in FNO you need to have the full margin span+exposure to take any position.
However, this will get implemented in a phased manner from Dec,1,2020 till Aug 2021, so no need to worry as of now. You can read more about it here.
However, if this rules get postponed or any changes get made I am still showing you the current margin offered at Sharekhan.
|Equity Delivery||Up to 5x with 24% interest per year|
|Equity Intraday||Up to 10x|
|Equity Future||2x for Intraday|
|Commodity Future||Up to 2x for Intraday|
As I said the margin won’t be a factor anymore with recent changes, so in my opinion it does not even make sense to look , as it will be going to be equal for all brokers from December 1, 2020.
Thanks to the cutting edge competition between brokers online, now even the full-time broker have to open the trading and demat account free for the customers.
Sharekhan trading and demat account charges – Rs.0
Annual maintenance charge – Free for first year Rs.400 annually from second year
Sharekhan doesn’t charge for any Depository Participant (DP) transactions. The transfer of share from and to the DP account is free.
When you open an account at Sharekhan, the first step is to choose whether you want open a trading account or an InstaMf Account.
Trading Account is for trading financial instruments such as stocks, derivatives like future & options, currency, commodity while InstaMF is for investing in mutual funds.
You just need to enter your mobile, name, email, city of residence and signup, once done you need to upload the documents given below online. Incase you need help or stuck somewhere in the process or have any query the sales team will contact you asap.
You have to upload the following documents and all documents should be self-attested.
- Pan card copy
- Proof of residence – a copy of Aadhar card, ration card, passport, driving license, bank statement not more than 2 months old
- Saving account detail – cheque leaf with name printed on it or 2 copies of passbook first page & latest transaction entry or latest bank statement
- Latest passport size photograph – 2 copies
If you want to trade with futures and options, you have to make an additional registration. After that, you have to upload any of the following documents:
- Acknowledged copy of ITR
- Bank statement for last 6 months
- Latest salary slip
- Copy of form 16 in case of salaried individuals
- Net worth certificate duly certified by a chartered accountant
This charges are same for all brokers as charged by the government.
|Transaction Charges||0.00275% of Total Turnover|
|STT||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover|
|Stamp Duty||Depends on State/UT|
|GST||18% of (Brokerage + Transaction Charges)|
Transaction Charges (or Exchange Turnover Charges) is a fee charged by the stock exchanges for trades done through them.
|Equity Delivery: 0.125% (Both sides)|
|Equity Intraday: 0.025% (sell side)|
|Derivatives (Futures): 0.017% (sell side)|
|Derivatives (Options): 0.017% only on sell side if squared off. (On premium)|
Sharekhan auto square-off all open intraday positions at 3:30 PM.
Sharekhan offers four trading platform for its users:
- Sharekhan Web/browser based trading platform which can be opened online
- Sharekhan Mini is designed for users who want to trade through their mobile phones or have a low Internet bandwidth like 2g, 3g
- Sharekhan App for Android and IOS users
- Sharekhan Trade Tiger is a downloadable desktop based trading platform
Although the functionalities are same for all but you get the maximum features with better user interface in the web and mobile app. The downloadable version i.e. trade tiger platform is also good for both traders and investors. However the interface may seem a bit old.
The web based platform is customizable and have lot of features. The enhanced live charts like Renko, Line, Candlestick, Bar, Area with more time frames ranging from 1 minute to 1 year and advanced chart studies.
Dashboard for a comprehensive view of what’s happening in the market at all times with easily refresh rate of stocks, multiple prices, and graphs.
In-depth market stats of stocks, futures, and options. Place different types of orders – Normal Order, Sell against Margin (SAM), Big Trade, Big Trade Plus, Bracket orders (BO. Trade smart with new trading ideas on Pattern Finder every day.
Pattern Finder is a tool that analyzes stocks and indices, extracts profitable opportunities and delivers the information to you need to make the most of it.
- It scans stocks in all supported markets every night, based on standards of Technical Analysis.
- It shows charts, patterns and predicts prices.
- It delivers this information to you via SMS and email alerts before the market opens the next day.
- Pattern Finder saves you a lot of time and effort
- It equips you with critical pattern recognition information and trading ideas.
- It delivers profitable trading opportunities.
For Investors the Sharekhan trading platform provides lot of research and analytics data:
1. Easy access to all financial data, portfolio, watchlist, mutual funds, MarketWatch, reports, IPO, indices, market stats, share market news etc.
2. Create, pause, and modify your SIPs anytime you want
3. Place orders to purchase or redeem mutual funds based on NAV, just like stocks
4. Enjoy the convenience of one-tap investments in mutual funds by setting up auto-pay, a one time mandate to automate investments in SIP and Lumpsum.
5. Select from hand-picked SIP and mutual funds through SIP
6. Plan investments for your financial goals with NEO, a goal-based investment tool
1.Multi-Exchange streaming of MarketWatch with more details about Scrips and Contracts
2.Create Watchlist of your favorite stocks, mutual funds, futures, options and currency
3.Tick by tick refresh of stock rates, multiple prices, and graphs
4.Latest quotes of stocks, mutual funds, derivatives and currencies from BSE, NSE &
5.Latest prices of Sensex, NIFTY and international markets
7.Transfer funds from your bank to Sharekhan Account
For Education & Training:
1. Explore the online modules to kick start your stock market learning in Sharekhan Classroom, absolutely free!
2. Register to Online Trading academy courses through the App.
3. Stay tuned to our trading offers on App.
There are many features available which can’t be explained in one single post, having said that the platform is good enough for all kind of users. Sharekhan also offers the API services which can be use to integrate with other platform such as Amibroker etc.
Dial-N-Trade is a free service, which enables you to place trading orders via telephone. You can call on sharekhan dedicated numbers – 022-25752900 or 022-25752300 or 022-33054900 to be directed to a telebroker.
You can use the following order types:
- Bracket and Trailing
If you are not familiar with the basic order types, read this post.
There are also order time limits you can use:
- Good till day (GTD)
- Good till time (GTT)
- Immediate or Cancel (IOC)
- Fill or Kill (FOK)
- All or Nothing (AON)
Frequently Asked Question (FAQ):
In my opinion Zerodha is better than Sharekhan in terms of trading platform and brokerage structure other than having said that Sharekhan offers advisory service which zerodha does not have as of now. So, it depends upon your need.
Yes, they are one of the oldest and largest full-time brokers backed by renowned BNB Paribas bank.
Yes, account opening charges are free including no charges for AMC for first year.
Yes, they are about to launch the discount brokerage firm, currently it is in beta version, it is estimated to get launched Next year, i.e. 2021 as per reports.
Sharekhan has tie-up with both depositories NSDL as well as CDSL
To be very honest except brokerages I do not find any other reason not to open an account with Sharekhan, but as I said they are coming in the discount broking and charges for brokerages will be reduced drastically.
They already comes under top 10 stockbroker in India as of now and when this happens they will be the only company to have all services related to finance at one place accessible through one platform.
Another thing is the backing of BNB Paribas bank, this gives security and assurance to its clients.
If I have to rate Sharekhan out of 10 they deserve not less than 8.2.
Do read this best stock market guide for beginners to clear the concepts in easy language.
Incase looking to make the RD than make sure to check the moneycontain monthly RD calculator, doing a manual calculation takes much of time, therefore feel free to use the RD calculator anytime you want to know the future value of your investments.
Want to do fixed deposit then checkout moneycontain free FD calculator and know which is the best bank offering highest interest rate as well.
You can also check Moneycontain Monthly SIP Calculator to know how much need to invest today to reach your future financial targets.
Incase you are looking to buy home than do not forget to check moneycontain home loan calculator which tells you your monthly EMI’S, interest need to pay on sum borrowed and lot more.
You can also check moneycontain reviews on best brokers in India here:
If, you have liked the content please do share it with your friends or on social media, as sharing do bring the good karma. If you have any questions or feedback you can leave them in comment box below.
Note: Please do not take this as any recommendation, to trade or invest. Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only. All investments are subject to risks, which should be considered prior to making any investments.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?