Looking for Low Brokerage, High Margin & Free Tips?
Sharekhan Brokerage
| | Brokerage | No Comments
Check All Brokerage Reviews
Sharekhan Brokerage is one of the premium ones in the stockbroking space in India. In lieu of this premium brokerage, the broker provides multiple services to its clients including research, offline presence, margin trading, quick support, trading applications and more.
In this detailed review, we will have a look at the brokerage charged by Sharekhan across different trading segments.
Sharekhan Brokerage Charges
Sharekhan is a premium full-service stockbroker in India that charges one of the highest brokerage charges across different trading segments if offers to you. With brokerage houses such as Sharekhan, it really depends on the kind of initial deposit you provide to the broker.
The brokerage charges are high if your initial deposit is low and at the same time, if you start with a relatively higher initial margin, then you get to pay much lesser brokerage charges on your trade.
In this detailed article, we will talk at length about all the charges levied by this full-service stockbroker on your trades along with discussing any other charges that are levied directly or indirectly while you trade on the stock market.
Understanding these details will help you to stay away from any surprises you might find yourself in later on.
Important Note – The brokerage charges mentioned below are subject to the initial deposit and your negotiation skills.
Although the ones mentioned are standard in nature but you may get a better (read lower) brokerage rate based on your discussion with the broker executive.
Sharekhan Brokerage for Equity Delivery
If you are someone who buys a stock on Day 1 and sells it one some other day (maybe the next day, next month, next year etc), then you trade at the Delivery level. For such trades of yours, Sharekhan charges 0.5% of your trade value as brokerage. In other words, if you trade for let’s say, ₹1 Lakh, then 0.5% of that value i.e. ₹500 will be charged as brokerage only.
From an overall stock market perspective, these are pretty high brokerage charges.
Here are the complete set of details for you:
| Brokerage | 0.5% (Negotiable) |
| STT | 0.1% on both Buy and Sell |
| Transaction / Turnover Charges | NSE ₹325 | BSE ₹275 |
| Service Tax | 15% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹15/Crore |
| GST | 18% of Brokerage + Transaction charges |
| Stamp Charges* | Depends on the State |
Feel free to check this Sharekhan Brokerage Calculator for the complete understanding of charges on Equity Delivery trades.
Sharekhan Brokerage for Equity Intraday
Following from example mentioned in the above segment, if you buy and sell the stocks within the same trading day, then it is termed as intraday trading and Sharekhan will be charging you 0.1% of your trade value, in that case, as brokerage charges.
In other words, for a trade of ₹1 Lakh, you will be paying ₹100 as brokerage to the stockbroker.
Here are the rest of the details for reference:
| Brokerage | 0.1% |
| STT | 0.025% on the Sell Side |
| Transaction / Turnover Charges | NSE ₹325 | BSE ₹275 |
| Service Tax | 15% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹15/Crore |
| GST | 18% of Brokerage + Transaction charges |
| Stamp Charges* | Depends on the State |
Sharekhan Brokerage for Equity Futures
Some people prefer trading in the derivatives segment. Within derivatives, you can be trading in Futures or Options and thus, it is required that you keep a close eye on what you end up paying to your stockbroker.
In the case of Sharekhan Equity Futures trading, you will be charged 0.1% on your first leg of trades. In case you exit off the trade within the same day, you will be required to pay 0.02% of your trade value for the second leg. However, if you keep sticking to the stock and fail to exit on the same day, the second leg brokerage will jump to 0.1%.
Here are all the details for Equity Futures charges:
| Brokerage | 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. |
| STT | 0.01% on the Sell Side |
| Transaction / Turnover Charges | NSE ₹190 | BSE ₹50 |
| Service Tax | 15% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹20/Crore |
| GST | 18% of Brokerage + Transaction charges |
| Stamp Charges* | Depends on the State |
Important Note: Sharekhan is one of the premium stockbrokers in India and provides reasonable services across research and customer support. Thus, charges pretty high brokerage charges across trading segments.
If you are looking for an economical option, you may want to check this article on Lowest Brokerage Charges in India.
Sharekhan Brokerage for Equity Options
Similarly within derivatives, if you choose to trade in Options segment, then you will have to pay pretty high brokerage charges at ₹250 per contract note. Find complete details below:
| Brokerage | ₹250 per contract note |
| STT | 0.05% on Sell Side(on Premium) |
| Transaction / Turnover Charges | NSE ₹5000 | BSE ₹50 |
| Service Tax | 15% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹15/Crore |
| GST | 18% of Brokerage + Transaction charges |
| Stamp Charges* | Depends on the State |
Sharekhan Brokerage for Currency Futures
You can trade in Derivatives within Currency segment as well. Here, like Equity Intra-day, you will be charged 0.1% of your trade value as brokerage.
Find complete brokerage and taxes information here:
| Brokerage | 0.1% |
| STT | No STT |
| Transaction / Turnover Charges | NSE ₹135 | MCX ₹130 |
| Service Tax | 15% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹15/Crore |
| GST | 18% of Brokerage + Transaction charges |
| Stamp Charges* | Depends on the State |
Sharekhan Brokerage for Currency Options
Similarly, you can do some quick maths and understand the kind of brokerage you will be paying to this full-service stockbroker when you trade in Currency Options segment. You may also choose to check this Sharekhan Brokerage Calculator for the complete understanding of charges on Currency Options trades.
| Brokerage | ₹250 per contract note |
| STT | No STT |
| Transaction / Turnover Charges | NSE ₹4220 | MCX ₹3220 |
| Service Tax | 15% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹15/Crore |
| GST | 18% of Brokerage + Transaction charges |
| Stamp Charges* | Depends on the State |
Sharekhan Brokerage for Commodity
Lastly, if you are commodity lover, then be sure of the kind of expenses you have to bear if you choose to trade in commodities through Sharekhan:
| Brokerage | 0.1% |
| STT | 0.01% on sell side (Non-Agri) |
| Transaction / Turnover Charges | MCX (Non-Agri) ₹230 | MCX (Agri) ₹95 |
| Service Tax | 15% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹15/Crore |
| GST | 18% of Brokerage + Transaction charges |
| Stamp Charges* | Depends on the State |
Apart from the direct brokerage plans, Sharekhan offers you a couple of specific plans based on the initial deposit you provide to the broker. Within such a set-up, there is further segregation that allows you to pick a brokerage rate with a direct correlation with the initial margin.
Sharekhan Prepaid Brokerage Plan
First up, there is a Sharekhan Prepaid brokerage plan, where you buy a subscription to the Sharekhan Account at a specific rate and get the brokerage rates depending on the amount you pay upfront. It does not matter what initial margin you provide under this plan. The brokerage is dependent only on the fact that how much-prepaid amount you end up paying.
Understand this, the amount you pay under the prepaid plan is NON-REFUNDABLE in nature. In other words, whatever you pay under this plan, you will not get it back. But your brokerage will stay the same as long as your account is active with Sharekhan.
Let’s take an example.
If you pay ₹1,000 as the prepaid amount, you will pay 0.45% brokerage rate for delivery trades (as opposed to the default 0.50%, like mentioned above) with a similar drop in brokerage charges in other segments as well.
On the same note, if you make an upfront payment of ₹18,000 – your brokerage will drop down to 0.20% of your trade value for Equity delivery.
But again, the values you are paying upfront under this plan are non-refundable.
Check the complete plan details here:
| Prepaid Amount (INR) | Delivery | Option |
| Default | 0.50% | Higher of 2.5% of Premium or INR 100 |
| 750 | 0.50% | Higher of 2.5% of Premium or INR 100 |
| 1,000 | 0.45% | Higher of 2.25% of Premium or INR 95 |
| 2,000 | 0.40% | Higher of 1.5% of Premium or INR 80 |
| 6,000 | 0.25% | Higher of 1% of Premium or INR 70 |
| 18,000 | 0.20% | Higher of 1% of Premium or INR 50 |
| 30,000 | 0.18% | Higher of 0.75% of Premium or INR 40 |
| 60,000 | 0.15% | Higher of 0.60% of Premium or INR 30 |
| 1,00,000 | 0.10% | Higher of 0.55% of Premium or INR 25 |
| 2,00,000 | 0.08% | Flat INR 10 |
It is advised to go for this plan ONLY if you wish to trade on a regular basis in the stock market. It does not make sense to pay up a non-refundable amount and then trade with low or no frequency.
Sharekhan PostPaid Brokerage Plan
Unlike paying an upfront amount for the pre-paid plan, here in the post-paid plan, things are pretty conventional. Here you just deposit an initial margin amount and you will see a corresponding decline in the brokerage rate as long as you keep going higher with the initial deposit.
The money you deposit under this plan is 100% refundable and you can use that money in your trades on the stock market.
To understand this plan, let’s take a couple of examples.
For instance, if you pay an initial deposit of ₹25,000 – you get the default brokerage of 0.5% on delivery trades. Then, if you take this deposit to ₹1,00,000 – the brokerage drops dead to half its value to 0.25% on delivery. Nonetheless, it all depends on your investment goals and budget.
Our suggestion is simple on this! If you are sure that you want to put an X amount in your stock market investment in the coming near future, then it is better to take up the postpaid plan and get a better rate.
However, if you wish to trade in smaller chunks after every few months, then no need to deposit a high margin.
Check the complete brokerage details under this post-paid plan here:
| Margin Money (INR) | Delivery | Option |
| 25,000 | 0.50% | Higher of 2.5% of Premium or INR 100 |
| 40,000 | 0.45% | Higher of 2.25% of Premium or INR 95 |
| 50,000 | 0.35% | Higher of 1.5% of Premium or INR 80 |
| 1,00,000 | 0.25% | Higher of 1% of Premium or INR 70 |
| 3,00,000 | 0.20% | Higher of 1% of Premium or INR 50 |
| 5,00,000 | 0.18% | Higher of 0.75% of Premium or INR 40 |
| 10,00,000 | 0.15% | Higher of 0.60% of Premium or INR 30 |
| 20,00,000 | 0.10% | Higher of 0.55% of Premium or INR 25 |
Sharekhan Transaction Charges
Apart from Brokerage, you are supposed to pay transaction charges as well on your trades. Here are the details:
 | Segment | Transaction Charges |
| Equity Delivery | NSE ₹325 | BSE ₹275 | |
| Equity Intraday | NSE ₹325 | BSE ₹275 | |
| Equity Futures | NSE ₹190 | BSE ₹50 | |
| Equity Options | NSE ₹5000 | BSE ₹50 | |
| Currency Futures | NSE ₹135 | MCX ₹130 | |
| Currency Options | NSE ₹4220 | MCX ₹3220 | |
| Commodity | MCX (Non-Agri) ₹230 | MCX (Agri) ₹95 |
Sharekhan Account Opening Charges
Sharekhan charges you to open an account with them and there is an annual maintenance charge in place as well. Here are the details:
| Trading Account Opening Charges | Classic Account - INR 750 | Trade Tiger Account - INR 1000 |
| Trading Account AMC (Annual Maintenance Charge) | INR 0 | |
| Demat Account Opening Charges | INR 0 | |
| Demat Account AMC (Annual Maintenance Charge) | INR 450 |
In case you are looking to get started with stock market trading or investments in general, let us assist you in taking things forward for you:
Sharekhan Brokerage FAQs
Here are some of the frequently asked questions about Sharekhan Brokerage charges you must be aware of:
Q. Why are Sharekhan brokerage charges so high?
A. Sharekhan is a premium stockbroker and provides services to its clients with better-than-average standards. Therefore, it is relatively costly too.
Having said that, with the advent of discount stockbrokers and the industry dynamics changing, it makes sense for such stockbrokers to have a relook at their client acquisition and retention strategies.
Q. What are the minimum brokerage charges levied by Sharekhan?
A. The minimum brokerage levied by Sharekhan is ₹20. This implies if the overall trade turnover value is bringing the brokerage anything less than ₹20, then that is the minimum amount of brokerage that will be levied on your trades.
Q. What are Sharekhan NRI brokerage charges?
A. When it comes to NRI trading, the brokerage charges are even higher. This is how the brokerage charges are structured for an NRI Demat Account:
- Equity Delivery: 0.5%
- Futures trading: 0.1% on the first leg and 0.02% on the second leg (same day square-off) or 0.1% (not same day square-off).
- Options: ₹250 per contract
Apart from that, you are required to pay ₹2000 as account service charge.
Q. Is the Sharekhan brokerage open to negotiation or is it fixed?
A. Sharekhan is a conventional full-service stockbroker. Thus, although, they do have laid-out plans and fee structures, there is always a room of negotiation, especially, when you are putting in a high initial deposit or committing a higher trading turnover.
Thus, make sure you have a full-round of brokerage discussion before opening your account with the broker.
Q. Is there any low brokerage plan offered by Sharekhan?
A. No, Sharekhan does not provide any low brokerage plan. All its brokerage charges are percentage-based and depend on the trading turnover you place through your orders.
Q. What is Sharekhan Brokerage for Penny Stock trading?
A. There is no difference in the way brokerage is calculated for Penny stocks or for the stocks listed on the stock market indices. Depending on your trade turnover, the brokerage charges are calculated and deducted from your takeaway profit before getting transferred to your trading account balance.
Q. What are the different types of taxes levied by Sharekhan during their brokerage calculation?
A. While Sharekhan (or any other stockbroker for that matter) calculates its brokerage charges, the following taxes are levied on your account:
- STT (Securities Transaction Tax)
- SEBI Turnover fees
- Stamp Duty
- Transaction Charges
- GST
Each of these taxes is levied by a different regulatory body and the stockbroker does not have any part in these charges.
More on Sharekhan
In case you are looking to know more about this full-service stockbroker, here are a few reference articles for you:
Summary
Reviewer
A Digital Blogger
Date
Broker Name
Sharekhan Brokerage
Overall Rating
