Sharekhan is afull-service stockbroking company in India that 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 5% of retail broking market share as per the latest number and is currently ranked 4th overall. They have a client base of a staggering 2 Million customers.
With a presence in over 575 cities, Sharekhan has around 170 branches and 3200+ franchise partners.
Sharekhan was one of the very few stockbrokers to have an early online presence and still backs itself with high tech trading software and platforms. The SEBI registered stockbroker is a DP of CDSL and NSDL.
Being a full-service stockbroker, it provides research and recommendations to its clients through their in-house research team of experts.
These tips and reports are at both the fundamental and technical levels for long-term investors and short-term traders respectively.
The quality of Sharekhan research reports and tips is just average though.
Apart from the research, the broker providesstock market basics education through Sharekhan Classrooms.
This online service is available to the clients of this broker where traders and investors are taught different stock market concepts at basic, intermediate, and advanced levels.
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 is known for their knack of developing innovative trading platforms to meet the ever evolving needs of modern traders. This full-service stockbroker has multiple trading platforms for both desktops as well as mobile.
Sharekhan 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.
Trade Tiger 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/payout 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 a few demos of Sharekhan trade tiger 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.
The stockbroker previously launched the “Sharekhan mobile app” and when one app gets a lot of negativity in terms of ratings and feedback, instead of incorporating those feedbacks, the broker simply launched a new mobile app altogether.
Most recently they have launched a new app by the name – “Sharekhan App”.
The app, until now, has received a relatively positive response from both Google Play as well as Apple store based on speed, performance, and accuracy.
The Sharekhan mobile trading app comes with the following features:
Furthermore, there are demos of online trading apps such as Sharekhan Mobile App, Trade Tiger, Web application etc. There are modules on Futures and Options trading as well for interested clients of this full-service stockbroker.
Know aboutSharekhan Future Margin, as it helps you to get the profit even with having less amount in your trading account.
Looking at the overall competitive space and consumer demands, this can be seen as a strong selling proposition placed ahead by the broker.
However, the quality part is something for you to judge whether it is good enough in totality or not.
This needs to be known that all thesestock market courses are online in nature and if you are a client of this stockbroker, you would need to check the calendar opened up for these courses and register to the ones you are interested in.
As per the claims by this broker, until now, this Sharekhan Classroom service has been able to deliver around 1000 hours of training to 19,000+ clients.
Sharekhan charges a certain amount for extending Demat and Trading account facilities to a customer. These accounts further have various associated charges to them.
If you open your account with an initial 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 ₹1,00,000then your brokerage drops to half at 0.25% for delivery.
You need to understand that whatever balance you are adding to your 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 Sharekhan prepaid plan, you have to pay a certain amount in advance to get a better brokerage rate. Again, the more you pay upfront, the less brokerage percentage is applied to your transactions.
Here is the detailed Sharekhan 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
Heading – Sharekhan Prepaid Plan
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 a 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 provided 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.
Apart from the brokerage and other transaction charges, there are Depository Participant fees. As the name goes, this fee is imposed by depositories, CDSL, and NSDL for managing the Demat account and to streamlines the process of transaction of shares to and from the account.
Now here, for every sell transaction the broker imposes certain fees called DP charges that are charged per scrip per day.
Thus, whatever is the value of your shares and the transaction, the depository charges the flat fees for the sell transaction. The broker registered with the specific depository comes up with their own plan for DP fees.
The information for the Sharekhan DP charges is given in the table below:
Apart from the advantages mentioned above, their new age investment tool named Sharekhan Neo is yet another appeal of having an account with the stockbroker.
The automated tool provides trading recommendations as per your risk profile.
You just need to provide specific inputs and correspondingly the tool will come up with specific recommendations on where you should be investing your money along with the holding period and risk level.
You will be asked questions such as your investment objective, preferred investing period, risk appetite etc.
It is recommended for long-term investors and people who do not have much investment and analysis skill at their disposal.
“Sharekhan has received around 26 complaints for the financial year 2019-20 at BSE and NSE.”
Post downloading, make sure you fill up your details very carefully. Once done, you can submit the account closure form to the closest branch of this stockbroker or you can courier it to the corporate office of the broker.
The overall formalities of account closure, post all your payment consolidations, will be done in a matter of a few days.
Sharekhan has earned a reputation amongst the finest stockbrokers in the country. With well over 6 Lakh customers, the stockbroker is also one of the biggest in terms of active clients.
Sharekhan began operations in February 2000, and currently has physical branches in as many as 575 cities of the nation.
The stockbroker offers a vast array of trading platforms to facilitate trading. They’ve got an app for smartphones – “Sharekhan App”, then a terminal-based platform – “Trade Tiger”.
In addition, the stockbroker offers “Sharekhan Mini” which facilitates trading on lower internet connections as well.
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 a premium brokerage charge, then Sharekhan can be a good option.
In case you are interested to get started with trading, just enter your details here to get a callback:
Some of the most frequently asked questions about Sharekhan you must be aware of:
What is Sharekhan?
Sharekhan is a full-service stockbroker and currently is rated among the top 5 stock brokers in terms of the overall active client base.
The broker provides multiple services to its clients across different parts of India through its vast network of sub-brokers and franchise branches.
You can open your account online or offline by providing specific documentation and fees.
With this account, you can trade in the stock market along with investing in mutual funds, bonds, IPOs etc. This trading happens either through the trading applications, it provides to you or by using the dial and trade facility.
2. How can I get Sharekhan forms?
In case you are looking to open a Demat account with Sharekhan, you need to fill theSharekhan Account Opening Form after carefully reading it in depth. Once you have filled in, you will need to submit a few self-attested documents that the executive will assist you in.
These forms are easily available online and you can also get the hard copy from the executive of this broker. Its customer service is relatively better than discount brokers as well.
3. Is Sharekhan a discount broker?
No, it is a full-service stockbroker with offline presence and free research provided to its clients.
4. 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 as well.
5. Is Sharekhan Trustworthy?
This full service broker 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.
Having said that, you are advised to have a regular check on your ledgers and account statements to be 100% sure on a regular basis.
6. 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.
7. 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.
8. 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.
9. 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.
Apart from that, the broker has recently introduced Sharekhan Neo (explained above). Using this tool, you can get recommendations on the different mutual funds you can invest in based on your risk appetite, return expectations, holding period etc.
The access to Sharekhan Neo can be taken post you open your account through Sharekhan InstaMF, an exclusive service for mutual funds investments through this broker.
10. How to Put Stop Loss in Sharekhan?
We will take a sell-trade example through Trade Tiger to explain this concept. Once your order is placed, right-click on the scrip you want to place the stop-loss on and choose the ‘Square Off’ option.
The selling window will be displayed on the screen where you are required to mention your stop-loss price. You may choose to add a little buffer if the market is relatively volatile, however, this is a very subjective matter.
The stop-loss will be executed once the price point set by you is breached.
11. Does Sharekhan allow Forex trading?
As it is known that the concept of Forex trading is not legal in India and no broker, including Sharekhan, can allow you to invest in this segment.
However, you can certainly perform currency trading where 4 pairs of currencies are regulated by SEBI.
This form of trading is allowed by this broker as well.
12. How to apply for an IPO in Sharekhan?
Sharekhan does not provide you with a direct option to invest in IPOs. However, there are still two ways you can go ahead.
You may choose to use the ASBA method for IPO investment where you need to integrate your bank account with the demat details of your Sharekhan account.
Once done, you may enter the details of your overall IPO investment in your online banking portal. You will also need to check whether your bank provides the ASBA provision or not.
If you do not have an online net banking facility, you can visit your bank brand, fill in the DP details and the corresponding IPO investment information. The bank executive will provide you with an acknowledgement slip once you submit all the information.
Otherwise, you may visit the local sub-broker office of Sharekhan and fill in all your IPO investment requirements to invest as well.
13. I forgot the password of my Sharekhan account? How can I recover?
Changing the password of an account with this broker is relatively easy. All you need to do is provide your valid UserId along with entering a captcha displayed on your screen.
An SMS and email will be generated and sent to your verified contact details. You will be required to enter the OTP (One-time password) sent to you.
Once verified, you will be able to enter a new password against your userId.
Make sure to follow some of the password policies Sharekhan has kept in place, such as:
Advice to change your password at least once a month.
Password Length should be in the range of 8 to 12 characters only with a combination of alphanumeric characters to go along with at least one special character.
14. I forgot my Sharekhan User Id. How can I recover it?
Although, your registered userId can be seen in the different emails and at least the welcome email you may have received when your account got activated.
However, you can recover your user id by going through the broker’s website.
All you need to do is, go to the forgot user id screen, enter your verified mobile number or your registered email id along with entering the captcha displayed on the screen.
You will be sent a one-time password (OTP) that needs to be confirmed and your user id will be sent to your registered contact details.
15. 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.
Apart from that, you must check your ledger, contract notes, statements on a weekly or a bi-weekly frequency so that you are aware of all sorts of charges levied on your trades.