Is Sharekhan good and safe for Stock trading and Investing?

Short Answer

Sharekhan is a bang average stock brokerage site that offers good services and features in its trading facilities, customer service, and reasonable charges for opening a demat and trading account.

Detailed Answer

However, the tools offered, withdrawal limits, and brokerage fees can prove to be a bitter experience for many and are it's only let downs.

Since 2000, Sharekhan has crawled its way up the ranks and become India's 3rd largest stockbroker offering excellent services and trading facilities for traders/investors alike. They have over 1500+ offices all across the country, with an international presence in Oman and UAE. The stockbroker has over 17 lakh customers and offers trading in the BSE, NSE for the segments of equity and cash derivatives. Commodity trading is executed through NCDEX and MCX. There are mutual funds and IPO investment trading offered by the stockbroker.

The trading facilities offered by the stockbroker spans its website and mobile trading application. The brokerage prices are set at 0.5% for delivery, and intraday brokerage charges are 0.1% of the total trade. For futures it’s 0.1% and options is 2.5%. account opening charges are capped at 750 rupees and 1000 rupees depending on the type of account. The AMC for the Demat account is 450 rupees per annum.

Types of Accounts Offered by Sharekhan

1. Classic Account

The stockbroker's standard account involves trading in all derivatives with buy and sell options that can be made via the call-in feature. The account offers real-time price tracking alerts, multiple watch lists, integrated trading, and bank accounts. It's the primary account that anyone can get when they start trading through Sharekhan.

2. Trade Tiger account

Such accounts are offered for those that have a high transaction rate where they trade on a daily basis. The benefits offered through such an account is trading facilities in the NSE, BSE, NCDEX, and MCX. Surplus statistical charts and graphical representation of the market with real-time updates, tie-ups with up to 12 banks for multiple transfers of funds, and much more.

Pros of using Sharekhan

1.The platform offers some great trading platforms either through mobile, website, and mobile applications. They are enriched with information and provide some great details in making sensible investments.

2.The account that you open varies depending upon the trades you execute. A trader having lesser trades will have a standard brokerage fee and vice versa. It makes a difference (in terms of brokerage fees) for the person engaged in more significant trades through the stockbroker.

3.Placing your order has never been easier. Traders/investors can call-in to execute their trades through the stockbroker customer service.

4.For any problem that a user might face, the stockbroker has over 1400+ branches located all across the country for clearing out their doubts and queries.

5.Offers investors and traders to fill in a deposit enabling them to execute trades in options and futures trading, which acts as collateral.

6.There are learning lessons and training offered in terms of trading and investment through the stock broker.

Cons of Sharekhan

1.The brokerage charges are incredibly high when compared to other mainstream stock brokering companies like Zerodha, Upstox, and others.

2.Although the platform offers a decent service for trading and withdrawal, the availability of 3-in-1 accounts is absent. Hence, the transferring of funds can take a considerable amount of time to execute.

What are your views on this tradition stock brokerage service provider? Have you tried Sharekhan? Feel free to express your opinions.

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