Sharekhan is an online trading company in India. It was founded in the year 2000 and has grown to be the 3rd largest trading company in India. It was founded by Shripal Morakhia and was one of the first online trading companies when the concept of digitization of trading was just at its nascent stage. The company is involved in brokerage trading in the areas of stocks, equities, commodities, and F&O. Sharekhan also acts as a financial investment platform for Mutual Funds, IPO’s, insurance, and bonds. It is quite popular in India as a financial investment and trading platform and has more than 2 million clients.
The company has a website and a mobile application for all its functions. The app can be downloaded for free from Google Play Store and at present, it has been downloaded more than 1 million times. It has also got more than 1800 offices across 550 cities and towns in India. It has an international presence in the form of company offices in Oman and UAE. This has helped in increasing the accessibility of the trader. The offices as well as an online presence has helped in getting clients from all age group and includes people who are not quite technologically sound. The company is registered at the Bombay Stock Exchange, National Stock Exchange, MCX, and NCDEX.
- Apart from being financial trading and investment platform, it also doubles up as an informative resource. It provides insights, data, analysis, and recommendations on trading, investment, and market trends backed by technology-based features like ShareKhan Classrooms. This is also the place where nascent traders, as well as the mid-level and full-time traders, are provided with basics on stock broking, mutual funds, goal planning, and other related subjects.
- Sharekhan offers the opening of different types of accounts for respective purposes. A user can open a Demat account and a trading account. An option of 2 in 1 account is also available to a user who is interested in stocks and trading both. A Demat account can be opened for free but the user has to pay the AMC charges. A trading account on Sharekhan is of two types, Classic and Trade Tiger which can be opened for a fee of Rs 750 and Rs 1000 respectively with no additional AMC charges.
- The brokerage fee that is charged for the financial trading is 0.5 % for Equity Delivery, 0.1 % for Currency Futures Trading, 0.1 % for Equity Futures Trading, 0.1 % for Commodity Trading, 0.1 % for Equity Intraday Trading, and Rs. 100 per lot (or 2.5 % on premium or high quantity trades) for Equity Options Trading. Moreover, there are two types of Pre-Paid and Post Pais brokerage plans available at Sharekhan with its specific charges and varying options.
- The customer care support team is readily available for any user and can be reached by email, chat, phone, and social media. Apart from remote services, any user can reach Sharekhan branch offices and franchises at various locations in 550 cities and towns in India. There is also a service of dedicated support to a user if one opts for it.
Sharekhan is renowned for its strict obedience to rules and its own policies. But there is no question of a lack of trust. So if you’re searching for a trusted stock broker, Sharekhan’s fares pretty good.
But the same cannot be said for their brokerage prices. I don’t know why in this age of discount brokers, they still charge so heavily. So if you’re an occasional investor and you don’t care for brokerage costs, you should go with Sharekhan.
But if you want to save on brokerage, then I’d recommend that you set up an account with Upstox. Before you make your choice, you should read the full Upstox Review.