Sharekhan Demat & Trading Account Review
“ICICI Direct” charges a brokerage of 0.275% per transaction (buy or sell). The brokerage of ICICI Direct is 0.55% for intraday transactions.
Sharekhan charges a brokerage of 0.10% per transaction. The brokerage of Sharekhan works out to be 0.20% for intraday trading.
Let us assume that you do a trade of Rs. 10 Lakh per month and thereby, Rs. 120 Lacs annually.
You can save Rs. 42,000 annually or Rs. 3500 monthly on intraday trading.
In case you are an occasional investor then brokerage won’t matter to you.
In such a case, ICICI Direct may be a better option as it provides a “3-in-1” account (Demat, Trading & Bank Account).
Sharekhan Brokerage Charges
|Stock Intraday Trading||0.10% (per trade – buy or sell)|
|Stock Delivery||0.50% (per trade – buy or sell)|
Alternate (cheap) Option for Regular Traders
You can save a huge brokerage by trading through a discount broker like Upstox who charges a fixed brokerage on trading.
Upstox charges flat Rs 20 per trade irrespective of your trade volume. Means you would pay flat Rs 20 even on the trades having a volume in crores.
Even there is no brokerage on delivery
Sharekhan Account Opening Charges & Annual Charges
Currently, Sharekhan offers trading and demat account as per the tariff given below
|Account & Charge Type||Amount|
|Trading Account Opening Fee||0|
|Demat Account Opening Fee||0|
|Trading Account Annual Maintenance Charges||0|
Annual Maintenance Charges
|Rs. 400 (Free for the 1st year|
with Trading Account)
Additional Products & Amazing Features
#1. Investment Cart
Investment Cart in Sharekhan is an enhanced form of Watchlist with benefits such as bulk buy option, similar stock suggestions.
Investment Cart also lets you have a quick interaction with the relationship manager.
InstaMF is a lifetime free account from Sharekhan to invest in Mutual Funds. You can register for InstaMF in a few minutes (there’s no manual intervention unlike setting up of trading account).
In addition to lumpsum investment option, Insta MF has a SIP option (with standing instruction to the bank for monthly withdrawal) to invest in a mutual fund.
Sharekhan NEO helps you make investment decision specific to your financial goals. NEO is an automated investment-support tool that suggests MF investments based on your financial goals and risk profile.
You can start by specifying the financial goals. NEO will ask a few questions to understand your risk appetite, time horizon and investment amount. Based on your responses, NEO will recommend Mutual Fund schemes for investment.
#4. Sharekhan Classroom
To educate customers, Sharekhan has a bunch of online classes for traders and investors. The classes are categorized as
- Basics of trading, mutual fund investments and wealth creation
- Advanced concepts such as technical analysis, popular trading tools and positional trading
- Workshops & courses on investment strategy
Sharekhan Margin / Leverage/ Exposure
|Stock Intraday Trading||10x (for A & B group stocks)|
|Stock Delivery||Up to 6.67x|
(depending on the group)
Sharekhan offers “Non-cash” limits as well. That is, you can trade with “Limit Against Shares” that you hold in demat account, provided that the minimum value of shares is Rs. 1 Lakh.
The Non-cash limit which you can avail is 50% of the value of the scrips in your demat account with Sharekhan.
My observations about Sharekhan (Review)
What I Like
- Demat AMC is on par with discount brokers
- Good online tools like “Investment Cart” and “NEO”
What I Didn’t Like
- High brokerage for delivery trades
- Customer Service is not so impressive
One example – Even though I registered on Sharekhan website and live chat, I did not receive appropriate and timely follow-up calls to complete the account opening process.
Sharekhan Trading Platforms
Sharekhan offers multiple platforms for trading
#1. Sharekhan Website
Sharekhan trading website has supportive features such as dashboard, smart search, portfolio tracker, charts, etc for trading, researching, tracking and investing.
#2. Sharekhan Mini
Sharekhan Mini can be accessed on your mobile browser even in low internet access bandwidth scenarios. Sharekhan Mini is a miniature version of Sharekhan website.
Sharekhan Mini does not require app installation.
#3. Sharekhan App
Sharekhan App is an exclusive app, facilitating trading and mutual fund investments on the go. The app provides assistance with charts and flexible search features.
Sharekhan App is available for both Android and iOS devices.
TradeTiger is a web-based, desktop trading platform that provides features of a broker’s terminal.
TradeTiger gives you plenty of filtering and analysis options to make easy decisions on a stock on a real-time basis.
#5. Dial & Trade
“Dial & Trade” is a free telephone-based service helping you place unlimited orders.
The tele-broker will assist you in research advice and execution of orders. You’ll be required to have Phone ID (IVR Code) and TPIN handy to avail Dial & Trade facility.
How to Open an Account with Sharekhan
- Click here to visit Sharekhan website
- Click “Open an Account” link on the Sharekhan website and sign-up for opening an account by providing your Name, Email, Mobile Number.
- A representative from Sharekhan will call you for account opening process completion. You’ll have to keep the following documents ready to complete the process.
- Pan card copy
- Proof of residence – copy of aadhar card, ration card, passport, driving license, bank statement not more than 2 months old
- Saving account detail – cheque 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 are an occasional investor and don’t care about the brokerage charges then you can go with Sharekhan.
But if you want to save on brokerage, then I would suggest you to open an account with Upstox. You can read the complete upstox review before making your decision.