HDFC Sky App - A Complete Review

HDFC has recently launched an investment application called the HDFC Sky. It is a fabulous gift for Indian investors who are looking for a trustworthy stock trading application.

HDFC Sky App Review

HDFC Bank is a private bank whose branches are situated in almost every city in India. Although its HQ is in Mumbai. The bank has launched its own trading and investing platform. From the very first day, it has become a huge competitor to some of the leading investment apps in India.

HDFC Sky is compatible with Android and iOS. It can also be accessed via the web. So, now the Indian audience has a trustworthy arena to put money into different kinds of stocks, ETFs, commodities, crypto, and even some US stocks.

Let us dive in deeper and explore more about this application’s features, prices, and other offerings.

Features of Sky App

As the name is newly launched in the market, it has got some really exciting features for the new customers. Given below are some of them.

• Real-Time Updates

• Compatibility with Android and iOS

• Availability of Foreign Stocks

• Users get the opportunity to do basket trading.

• Mutual Fund Investment is also available.

• Commodities like gold and silver.

• It is also a bond trading platform.

• When you make a portfolio, you can see all the details on the dashboard.

• Properly researched reports will be generated for whichever stocks you want.

• Global Indices are also present on the website.

• Based on your investments, a customized recommendation will be provided to the customer.

• Blogs and tips are available whenever you need advice.

• All kinds of interactive charts can be made by you to analyze the stocks.

• Live market feed also plays on the website.

As HDFC is a global brand, it is trustworthy, and more and more people are opening their demat accounts on it.

HDFC Sky App charges

Presently, HDFC is not charging anything for opening a demat account. Plus the maintenance charges for the first year are zero. There are brokerage charges but very affordable keeping the Indian investors in mind.

The charges are levied on intraday as well as delivery of currencies, commodities, F&O, and equity. Here is a price breakup.

1. Equity Brokerage

For equity, the brokerage charged is as follows:

• Intraday- Rs 20 or 0.1%, whichever is lower from both.

• Delivery- Rs 20 or 0.1%, whichever is lower from both.

2. US Stocks Brokerage

For US Stocks the rate is 5 cents for every share.

3. Derivative Brokerage

In the case of derivatives, there are either future options or carryforwards. Thus the charges are as follows:

• Futures Intraday- Rs 20 or 0.1%, whichever is lower from both.

• Futures Carry Forward- Rs 20 or 0.1%, whichever is lower from both.

• Options Intraday- Brokerage will be Rs 20 per order.

• Options Carry forward- Brokerage will be Rs 20 per order.

4. Currency Brokerage

Brokerage is a case of currency as follows:

• Futures Intraday- Rs 20 or 0.1%, whichever is lower from both.

• Futures Carry Forward- Rs 20 or 0.1%, whichever is lower from both.

• Options Intraday- Brokerage will be Rs 20 per order.

• Options Carry forward- Brokerage will be Rs 20 per order.

5. Commodity Brokerage

• Futures Intraday- Rs 20 or 0.1%, whichever is lower from both.

• Futures Carry Forward- Rs 20 or 0.1%, whichever is lower from both.

• Options Intraday- Brokerage will be Rs 20 per order.

• Options Carry forward- Brokerage will be Rs 20 per order.

6. Other charges

For the rest of the stuff, the brokerage will be:

• RMS- Rs 20 or 0.1%, whichever is lower from both.

• ETF Intraday- Rs 20 or 0.1%, whichever is lower from both.

• ETF Delivery- Rs 20 or 0.1%, whichever is lower from both.

Courses Offered By HDFC Sky

HDFC Sky is offering some really interesting investment and trading courses. Each course is designed after research to ensure that learners can grasp them. The courses are meant to help solve all kinds of complexities and issues related to the financial markets.

All these courses are free of cost and can be taken online. Currently, they have three courses that are as follows:

1. Investing Course

Under this, they provide 3 modules.

• The Why’s of Investing- It has 9 chapters each of which deals with the reasons for investing in the stock market.

• The Mechanics of Market- 7 chapters in this module start right from the history of the market to its functioning.

• Basics of Fundamental Analysis- This too has 7 chapters starting with what is analysis and how to do it.

2. Trading Course

This course also has 3 modules.

• The Intro- Intro starts with 3 chapters. It defines trade and why one should do it.

• Charts- This has 11 chapters and it clearly explains each kind of chart used in trading and analysis.

• Technical Analysis- It has 11 chapters and here you will learn about how to do technical analysis of stocks and other investible options.

3. Personal & Behavioural Finance Course

The last course has 16 chapters in total. Here are the modules it includes.

• Personal Finance Basic- You will be given 4 chapters under the basics. It deals with personal finance planning, asset planning as well as goal setting.

• Personal Finance Advanced- The advanced level has 6 chapters. It gives details about mutual funds, tax implications on investments, insurance, loans, and many interesting topics.

• Behavioral Finance- This chapter has 6 chapters. In this you will learn about the functioning of the market, what is an efficient market, behavioral finance basics, and more.

HDFC Sky App: Review

The HDFC Sky app has just launched. So, it's relatively newer than other established platforms already acquiring a big chunk of the investors.

Switching suddenly to a different application can be a big step. Thus, it is best if you compare the features with similar apps. Despite the platform, the risks involved in stock trading remain the same.

What do you think about the HDFC Sky app?