Sharekhan is a full-service stockbroking company in India which began its operations in February 2000 through its parent company S.S. Kantilal Ishwarlal Securities Limited (SSKI). It is one of the leading stockbrokers in the space with around 6% of retail broking market share as of May 2017 and is currently ranked 3rd overall.
With a presence in over 575 cities, Sharekhan has around 170 branches and 2200+ franchise partners. Sharekhan was one of the very few stockbrokers to have an early online presence and still backs itself with high tech trading softwares and platforms.
“Sharekhan was sold out to BNP Paribas on 30th July 2015 for ₹2200 Crore. At the time of its sold out, this full-service stockbroker had a base of 12 lakh clients.”
Being a full-service stockbroker, Sharekhan provides research and recommendations to its clients through their in-house research team of experts. These tips and reports are at both fundamental and technical level for long-term investors and short-term traders respectively. The quality of these research reports and tips are just average though.
At the same time, Sharekhan with its premium services sets up representative or relationship managers with its clients so that their portfolio can be individually monitored. However, this service is given major attention when your overall turnover or stock market deposit is pretty decent, let’s say in the range of at least ₹5 Lakh or more.
“Sharekhan has an active client base of 4,93,533 making it the third largest stock broker in India after ICICI Direct and HDFC Securities.”
Sharekhan is accredited by NSE, BSE, MCX-SX, MCX & NCDEX for the following segments:
Trade Tiger is a stock trading application that customers can use through their desktops or laptops. It is claimed to be as powerful as the terminal of a broker. Tradetiger helps you to trade across different financial segments including equities, currencies, commodities, derivatives, IPOs and mutual funds.
Since the platform is a hybrid cloud-based application, traders can create customized market watch lists and access those from different machines by logging into the system. Tradetiger comes with the following features as well:
High-quality charts for detailed research and stock analysis
Instant pay in/pay out via 14 national banks
Access to all trading calls, market tips by the technical and fundamental research desk
Customized alerts and notifications based on user preferences for quick reminders on stocks and exchanges
Check out few demos of the platform here:
It is a pretty mature trading application and has been used by a huge number of clients for more than a decade. The application has seen quite a few upgrades and technology enhancements over these years.
Sharekhan has had a strange history when it comes to mobile apps. Sharekhan has launched multiple mobile apps in the last few years and when one app gets a lot of negativity in terms of ratings and feedbacks, instead of incorporating those feedbacks, Sharekhan simply launched a new mobile app altogether.
Most recently they have launched a new app with their brand name itself. The application. The app, till now, has received a relatively positive response from both Google Play as well as Apple store based on speed, performance, and accuracy.
The app comes with the following features:
Trading facility across market exchanges
Live reports, news, market trends
Fund transfer facility from bank to Sharekhan trading account
Here is the demo and walk through video of ShareMobile:
Some of the concerns with the mobile app include:
Performance goes down in small cities with users having lower internet connection bandwidths.
For users living in small towns and villages, Sharekhan has a browser-based mobile trading solution called Sharekhan Mini. This application works relatively smoothly on lower internet connection bandwidths and works as a better performance trading solution for users with 2G internet connections.
Some of the features of this application include:
Allows you to perform basic level analysis through charting and company information
You can invest in different classes such as Equity, Commodity, Currency as well as mutual funds
Data points such as 52-week high/low, gainers and losers of the day etc are displayed
Works fine on basic smartphones with 2G internet connection
Sharekhan Web Trading
Sharekhan does offer a web-based trading application as well and to access it you need to browse the Sharekhan website, click on login and put in your credentials to start trading. Some of the features of this application are as follows:
Sharekhan is one biggest names in the stockbroking space in India. Thus, users have all the rights to have huge expectations from the broker in terms of reliability and quality service. Sharekhan provides the following channels to its users for customer service:
Chat (intermittently available)
Offline Locations (through sub-brokers and franchise offices)
When it comes to quality, this full-service stockbroker leaves no stone unturned in making sure users get a wide range of communication channels to get back to the broker. The support executives are decently trained and speak in multiple languages depending on the user’s location.
When it comes to the funds transfer process, the broker a detailed list of banks that you can integrate your trading account with. Here is the complete Sharekhan Bank List for your reference.
Without a doubt, Sharekhan lives up to its expectations when it comes to servicing its client base. No doubt, they have one of the highest numbers of active clients in India.
Sharekhan Account Opening Fees
The trading and demat account charges for Sharekhan are listed out as below:
Trading Account Opening Charges
Classic Account - INR 750
Trade Tiger Account - INR 1000
Trading Account AMC (Annual Maintenance Charge)
Demat Account Opening Charges
Demat Account AMC (Annual Maintenance Charge)
Here is the detailed listing of all the asset classes:
0.1% on the first leg and 0.02% on the second leg if squared off on the same day and 0.1% if squared off on any other day.
2.5% on the premium or ₹100 per contract (whichever is higher)
2.5% on the premium or ₹30 per lot (whichever is higher)
Sharekhan Brokerage Charges
There are 2 plans proposed by Sharekhan to its customers – Prepaid and Postpaid. The idea is simple – more margin money you put into your account, less brokerage percentage you have to pay to the broker.
For instance, under the postpaid plan, if you put in margin money of ₹50,000 – you have to pay a brokerage of 0.4% while for a margin money of ₹5 Lakhs – the brokerage drops of 0.18%.
How does Brokerage Work?
“In case of full-service stock brokers, the brokerage is percentage based. This implies if Sharekhan charges you 0.5% for delivery trades and your trading capital is ₹1,00,000 then the brokerage for that particular trade is ₹500.
Thus, it really depends on your trading capital and based on that the brokerage will be calculated. The minimum brokerage in case of Sharekhan is ₹20.”
Here are the complete details of both the plans:
Sharekhan Postpaid Plan
Under the postpaid plan, you have to deposit a certain amount of margin money into your account in advance.
If you open your account with an initial trading account deposit of ₹25,000, then you need to pay a brokerage rate of 0.5% for the delivery segment and similarly relatively high values for other segments. At the same time, if you start with the trading account balance of ₹1,00,000 then your brokerage drops to half at 0.25% for delivery.
You need to understand that whatever balance you are adding to your trading account balance is refundable in nature and in fact, if needed you can reverse it back to your bank account after 3 days of depositing.
Sharekhan Prepaid Plan
Under the prepaid plan, you have to pay a certain amount in advance to get a better brokerage rate. Again, the more you pay upfront, less brokerage percentage is applied to your transactions.
Here is the detailed prepaid plan structure:
Prepaid Amount (INR)
Higher of 2.5% of Premium or INR 100
Higher of 2.5% of Premium or INR 100
Higher of 2.25% of Premium or INR 95
Higher of 1.5% of Premium or INR 80
Higher of 1% of Premium or INR 70
Higher of 1% of Premium or INR 50
Higher of 0.75% of Premium or INR 40
Higher of 0.60% of Premium or INR 30
Higher of 0.55% of Premium or INR 25
Flat INR 10
Now, this plan is different from the postpaid plan mentioned above in the sense that whatever money you deposit is non-refundable in nature. This is a one-time subscription cost where you pay a specific amount and correspondingly a specific brokerage rate is set against your account.
If you provide non-refundable subscription amount of ₹2,000, then your brokerage for delivery will be 0.4% and at a subscription payment of ₹18,000, the brokerage rate falls to 0.20%.
Thus, depending on your preference, risk appetite, and disposable cash, you can pick a specific plan offered by Sharekhan. At the same time, a lot depends on your negotiation skills as well. If I were you and had a reasonable initial deposit to start with, I will make sure no negotiate till the last penny. Give references to other brokers, especially the ones that fall closely in a competition such as Angel Broking, Motilal Oswal.
A lot can happen over a discussion and remember, if you are able to get the best price possible, it all goes into your pocket as “profit”.
Sharekhan Transaction Charges
Here are the details on the transaction charges levied by Sharekhan. These charges are part of your overall payment like the brokerage or account opening/maintenance charges you pay, as a client:
Margins provided by Sharekhan is at the following level as per the asset class:
Upto 10 Times for Intraday & 5 Times for Delivery
Upto 2 times for Intraday
Upto 2 times for Intraday
The full-service stockbroker has a presence in the following locations across India through its sub-brokers and franchise offices:
Andaman & Nicobar
Raipur - Rajim
Jammu & Kashmir
Bokaro Steel City
Ram ganj Mandi
Gautam Budha Nagar
Disadvantages of Sharekhan
There are few concerns seen in Sharekhan trading, including:
Since Sharekhan does not have banking services, they do not offer a 3-in-1 account
The brokerage system is designed in such a way that if you are relatively new to the market, you will end up losing a lot of your money in brokerage itself
After hours order placing facility not available
There is a provision of minimum brokerage charges irrespective of the value of the trade, making the overall experience relatively expensive.
Their mobile apps are their weakest link when it comes to trading platforms. The broker needs to make sure it provides a consistently performing application.
“Sharekhan has received around 107 complaints for the financial year 2017-18 at BSE and NSE.”
Advantages of Sharekhan
Then, there are some obvious advantages of opening an account and trading through this full-service stockbroker. Here are some of the positives:
One of the top 3 stock broking houses in the country in terms of number of clients
It has remained as one of the most trustable stock broking brands
Huge offline presence with franchises and sub-brokers network
Highly scalable and innovative trading platforms
Call and trade facility is free.
One of most descent research team with high profile research experts
If you are a regular trader, then Sharekhan is definitely not the Stockbroker for you. In intra-day trading you will end up paying huge brokerage to the full-service broker, thus, eating up your profits. For users who are looking for high trust from a stockbroker and are fine to pay premium brokerage charge, then Sharekhan can be a good option.
The terminal-based platform from Sharekhan, Trade Tiger is a decent trading application while the rest of the softwares do need some upgrade.
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Post this call You need to provide few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
Passport sized photograph
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Sharekhan Membership Information:
Here are the details on the different membership details of the full-service stock broker:
The details can be verified from the corresponding entity websites.
Some Frequently Asked Questions about Sharkehan
Is it mandatory for me to open a Demat account?
Yes, if you are looking to open your trading account with the full-service stockbroker, it is mandatory that you must open your demat account along as well.
Is Sharekhan Trustworthy?
This full service stockbroker has been around since 2000, makes 100s of crores of annual profit, is being owned by BNP Paribas (one of the largest financial houses in the world), is ranked third in India in terms of number of active clients, has a network of 1950 sub-broker and franchise offices in India. So yea, it is certainly trustable.
Is Sharekhan good for Beginners?
Not really. Sharekhan charges premium brokerage and beginners or small investors with little capital might not be able to sustain for long as their take-home profit will be very less.
How does Sharekhan calculate Brokerage?
Being a full-service stockbroker, Sharekhan charges percentage based brokerage charges. That implies, depending on your trade capital a certain percentage (based on the plan you chose, see Brokerage plans above) will be multiplied by it and correspondingly brokerage amount gets calculated. There is a certain minimum slab as well in case you trade in small chunks of capital.
What is the current brokerage structure of Sharekhan in India?
There are two brokerage plans apart from the default one. Please see the Brokerage Plans section above for more details.
Can I invest in Mutual funds through Sharekhan?
Yes, you can invest in mutual funds, insurance as well as in IPOs using this full-service stock broker’s services.
Are there any hidden charges I need to pay while trading through Sharekhan?
There are no hidden charges but you need to make sure you understand different types of charges levied such as Brokerage, Account opening and maintenance charges, transaction charges, Stamp duty, STT, Service tax, SEBI Turnover charges. It is advised to get all kinds of charges emailed from the executive while opening your account with the broker.