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Sharekhan, established in 2000, is one of the most recognized names in the Indian brokerage industry. Over the years, it has earned a reputation for its reliable trading platforms, extensive research services, and a wide range of investment options. This review offers a detailed overview of Sharekhan’s features, brokerage charges, and customer feedback, both positive and negative.
1. Features of Sharekhan
a. Advanced Trading Platforms
Sharekhan offers two major platforms for trading:
- TradeTiger: A downloadable desktop platform offering advanced charting tools, real-time market data, and various order types. TradeTiger is ideal for seasoned traders seeking in-depth analysis and execution speed.
- Sharekhan App: A mobile app that caters to both casual and professional traders, providing access to trading, portfolio management, and research reports on the go.
b. Comprehensive Research and Advisory Services
Sharekhan is well-known for its in-depth research services. It offers daily market updates, stock recommendations, and detailed reports on equities, derivatives, and commodities. This feature is particularly beneficial for those who rely on expert advice for making investment decisions.
c. Multiple Investment Options
Sharekhan allows trading in a variety of segments, including:
- Equities
- Derivatives (Futures and Options)
- Mutual Funds
- Commodities
- Currency Trading
This diverse range of investment products makes it easier for traders to build a diversified portfolio through a single broker.
d. Portfolio Management Services
Sharekhan’s portfolio management services (PMS) are tailored to high-net-worth individuals (HNI). PMS offers professional management of portfolios to meet specific investment goals, using both traditional and modern strategies.
e. Training and Education
Sharekhan provides educational resources through its online learning platform, ‘Sharekhan Classroom.’ These courses cover a wide range of topics, from stock market basics to advanced trading strategies, making it suitable for both new and experienced traders.
f. Free Demat and Trading Account
Sharekhan offers free demat and trading accounts for the first year, which is an added benefit for new customers. After the first year, account maintenance charges apply, but this initial free period is attractive to beginners.
2. Account Opening and Brokerage Charges
a. Account Opening Charges
Sharekhan’s account opening process is straightforward, with the following fees:
- Equity Account Opening: ₹0 for the first year
- Demat Account AMC: ₹400 from the second year onwards
This fee structure, with zero charges for the first year, provides flexibility for new traders.
b. Brokerage Charges
Sharekhan follows a percentage-based brokerage model:
- Equity Delivery Trades: 0.50% of the trade value
- Equity Intraday Trades: 0.10% of the trade value (buy and sell both)
- Equity Futures: 0.10% on the first leg, 0.02% on the second leg if squared off the same day
- Equity Options: ₹100 per lot or 2.5% of premium (whichever is higher)
- Currency Futures: 0.10% of the trade value
- Currency Options: ₹30 per lot
- Commodities: 0.10% of the trade value
In addition to the above charges, regulatory and transaction fees apply. Sharekhan’s percentage-based model may lead to higher costs for high-volume traders.
3. Customer Reviews: A Balanced Perspective
a. Positive Feedback
- Comprehensive Research: Many users appreciate Sharekhan’s detailed research reports, which help them make informed trading decisions. The research covers various asset classes, providing traders with valuable insights.
- Advanced Trading Platforms: Both TradeTiger and the mobile app receive praise for their reliability and advanced features. The real-time data and customization options make these platforms ideal for active traders.
- Free Account Opening: Customers value the free demat and trading account for the first year, which allows them to explore the broker’s offerings without any upfront costs.
- Educational Resources: Sharekhan Classroom is highly regarded by beginners, as it provides easy-to-understand lessons and tutorials on trading and investing.
- Portfolio Management Services: HNIs and serious investors appreciate the professional portfolio management services offered by Sharekhan.
b. Negative Feedback
- High Brokerage Costs: Sharekhan’s percentage-based brokerage model can lead to high fees, particularly for high-volume traders. Many users feel the brokerage charges are on the higher side compared to discount brokers.
- Platform Stability: While TradeTiger is praised for its features, some users report occasional platform stability issues during peak trading hours, which can hinder their trading experience.
- Customer Support: Several customers have expressed dissatisfaction with Sharekhan’s customer support, citing long response times and unresolved queries.
- Limited Discount Brokerage Options: Sharekhan is not a discount broker, and its charges are relatively higher than newer players like Zerodha and Upstox. This may deter cost-conscious traders.
4. Conclusion: Is Sharekhan Right for You?
Sharekhan is an excellent choice for traders who value research, advanced trading tools, and a wide range of investment options. Its platforms are robust and feature-rich, making them suitable for experienced traders. However, for cost-conscious or high-volume traders, the brokerage fees may seem steep compared to discount brokers. If you’re looking for a broker that combines reliability, expert research, and educational support, Sharekhan is worth considering.