SBI Securities or SBI Capital Securities is the broking arm of the SBI (State Bank of India) group and is a bank based full-service stockbroker in India. Established in the year 2006, SBI Securities is one of the most trusted brands within the stockbroking space in the country.
Let’s try to understand whether SBI Securities is a good enough stockbroker for your trading requirements or not.
SBI Securities Review
SBI Securities has its main headquarters in Mumbai and is present in 114 locations of the country with its partner network.
Being a bank based stockbroker, SBI Securities provides a 3-in-1 demat account to its clients where they do not need to transfer funds between trading and bank account manually.
It is known to provide a wide range of trading and investment products for its clients. The list includes the following segments:
“SBI Securities has an active client base of 2,06,949 for the financial year 2019-20.”
Ms Varsha Purandare, Chairwoman – SBI Securities
SBI Securities Trading Platforms
SBI Securities offers in-house trading platforms across the web, desktop and mobile devices, thus, taking care of one of the core aspects of trading – Technology. Not many stockbrokers in India take care of that responsibility and out-source that particular task.
However, there is still a lot that can be done when it comes to performance, user experience and exhaustibility of these trading softwares. Let’s discuss these applications one by one and see whether those are any good for you:
SBI Smart Express
SBI Smart Express is the terminal based trading software from SBI Securities that needs to be downloaded and installed on your computer or laptop. This is useful for heavy traders looking for high performance and quick order execution. Some of the features of SBI Smart Express are:
Historical data available for both fundamental as well as technical analysis
Charting functionality with technical indicators provided
Modify, Square off or cancel pending orders
Trading research calls and research reports available within the trading platform
This is how this trading software looks like:
SBI Smart Web
SBI Smart Web is a browser-based trading platform that can directly be accessed through a link without any downloads or installations. The user just needs to provide valid credentials and can start trading after logging into the application. It is a responsive application and thus, can be accessed using any device such as Desktop, Laptop, Mobile or Tablet. Here are some of the features of SBI Smart Web:
Lightweight trading application
Fund transfer feature available
Provision for technical and fundamental analysis through different features
Here is the login screen for the application:
SBI Smart Mobile App
SBI Smart Mobile app is an average mobile trading application in terms of performance and user experience. It is well designed and has a decent number of features but when it comes to using the application, users might face some hard time in terms of the usability of the app. Here are some of the features SBI Securities’ Mobile app offers:
Access to Live quotes and messages
Check order status and positions
Live market tracking of BSE and NSE
This is how the mobile app looks like:
SBI Smart mobile app is one of the worst rated mobile apps Google Play store. Some of the major concerns with this application include:
Consistent slowness in the app has been observed irrespective of your internet connection bandwidth
This full-service stockbroker can be contacted via the following communication channels, as shown:
With SBI Securities, the customer service quality differs. When it comes to basic administration and account-related activities, the support provided by SBI Securities is pretty good and comes with quick turnaround time. In fact, answers to a lot of your queries are provided on their website itself.
However, dealing with the support team in case of concerns with your trade or trading software – it is a different story altogether – a horror one actually. Most of the times, technical support does not really have much of an understanding of their trading applications and related concerns.
In case they somehow do, the turnaround time does not seem to have any related SLA to it. In other words, the time the support team takes in order to solve your query has no specific timeline and most of the times you might be kept waiting to get your query resolved.
Thus, keep your expectations low when it comes to the customer support of SBI Securities.
SBI Securities Research
Since it is a full-service stockbroker, you will get access to research reports and tips on a regular basis. Some of the research products SBI Securities provides to its client base include:
Fundamental Reports – where you are provided with detailed research on specific stocks and companies coming from different sectors. You will be given a recommendation on Buy or Sell or Accumulate or Hold based on the market situation and corresponding impact on the stock discussed.
Screeners – are useful for a quick glimpse of the market momentum and which specific stocks you should be monitoring for quick profit and exit. These insights are provided across Equity and Derivative segments.
HeatMaps – as you would know, heat maps help in figuring out the specific stock’s trend by the usage of specific colour codes. This saves a lot of time for users who are looking to make a quick buck through intra-day trades.
If you are a client of SBI Securities, you will be provided Heatmaps, although any basic trading platform will anyway enable you with such a feature.
Bubble Map – provide you with a relative study of different stocks in one go with an idea of their specific movements in the stock market. Furthermore, different colour codes are used to give an even quicker idea of the movement type.
One thing that is of major importance when it comes to research is – Accuracy. And this is the area where the technical tips of this full-service stockbroker falter pretty badly.
The concern is not only with the performance but with the regularity and the timing of these tips. Either you get these tips too late in order to make a quick profit or you get them once in a while.
Thus, SBI Securities certainly need to pull up its socks when it comes to Research.
SBI Securities Pricing
When it comes to pricing, users need to consider account opening/maintenance charges, transaction charges, taxes, duties and so on. Here we are going to talk about a few of those for SBI Securities:
SBI Securities Account Opening Charges
Here are the details on account opening and maintenance charges for SBI Securities (no account opening or maintenance fees for the trading account):
Demat Account opening charges
Trading Account opening charges
Demat Account Annual Maintenance Charges
Trading Account Annual Maintenance Charges
SBI Securities Brokerage
Here are the brokerage charges across segments (except Commodity since SBI Securities does not allow you to trade in Commodities segment):
Here are some of the most frequently asked questions about SBI Securities:
How is SBI Securities for opening a Demat Account?
SBI Securities, being a bank-based stockbroker, provides you with a sense of ‘trust’ when you are looking for potential stockbrokers to open a demat account with. However, you need to see what you are looking for and what your requirements are.
This full-service stockbroker is good in offline coverage, okayish in trading platforms and pretty low as far as brokerage, margin and service are concerned. Make sure you make your choice accordingly.
How to transfer shares from Zerodha to SBI Securities?
Transfer of shares from one demat account to another is a pretty straight-forward process these days. You just need to login to ‘SCORES’ portal that allows you to register as a trader and then you can create your profile. Your details will be validated and then you can transfer shares from one account to another online. This process generally takes 2-3 business days to complete.
Otherwise, you can transfer your shares from Zerodha to SBI Securities, simply by visiting Zerodha’s office, fill in the DIS slip, return it to the Zerodha executive, take the acknowledgement and then the share transfer is taken care by your current broker (In this case, it’s Zerodha).
How do I subscribe an IPO through SBI Securities?
If you are a client of this full-service broker and want to apply for an IPO, you can use the IPO ASBA Process for the subscription. First of all, you need to login to your SBI bank account, click on the ‘Profile’ tab, find ‘Manage IPO Applicant’ and click on that option.
Once you have registered yourself as an IPO Applicant, then you can go ahead and apply for an IPO that is open for subscription.
Applying is done through the ‘eServices’ tab where you find ‘IPO (Equity)’ option. You need to select your ‘Category’ of the investor, select bid price, quantity etc and submit.
How is the SBI Securities mobile trading app?
The mobile trading app from SBI Securities is called – SBI Smart. The app is one of the weakest links among the propositions of this stockbroker.
SBI Smart mobile app is rated as bad as 2.8 out of 5 with more than 50% ratings as ‘poor’. Having said that, the app has seen more than half-a-million downloads to date with an update frequency of 4-6 weeks.
What are the brokerage charges of SBI Securities?
SBI Securities, like other bank demat accounts, charges pretty high when it comes to brokerage charges. The equity delivery is charged at 0.5% of the trade value. Then for intraday trades, the brokerage is as high as 0.05%. Options trading for equity comes at ₹100 per lot and for currency options, the brokerage is placed at ₹30 per lot.
More on SBI Securities
For more information on SBI Securities, you may choose to check any of the below displayed links: