Sharekhan Review 2020
Sharekhan is a leading Indian brokerage firm. It offers investment packages, portfolio management and trading services on its proprietary trading platforms which are available on web, desktop and mobile. The broker also offers comprehensive workshops, online education and market analysis to clients. They currently only cater to traders that are based in India.
- Regulated brand
- Multiple trading platforms including the sophisticated ‘Trade Tiger’
- Comprehensive trading academy & numerous workshops
- Market news & analysis
- Corporate Social Responsibility
- Restricted to clients located in India
- Assets limited to Indian stocks & markets.
- Limited payment options
- No MetaTrader platforms
In this detailed Sharekhan review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Sharekhan is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Sharekhan.
Sharekhan is one of the biggest online brokerage and investment firms in India. Founded since 2000, the broker is based in Mumbai but has about 153 branches across India. In 2016, it was acquired by BNP Paribas; a French based international bank group with presence in 72 countries and over 30 million customers. Sharekhan offers forex, equities, futures and options, mutual funds, portfolio management and education. The broker boasts of 1.6 million clients and executes more than 400,000 trades every market day.
Sharekhan also has the policy of Corporate Social Responsibility (CSR) and has done a lot to better the lives of people within its operating environment. Recently, the broker purchased 3 brand new SML S7 buses for students of Isha Vidya Matriculation School, Sandegoundenpalayam Village of Coimbatore. Children residing within 25km radium of the school now have access to education courtesy of Sharekhan.
Sharekhan has been recognized with an award on several occasions. The brand won the 2011 online trading academy award at the annual international conference of OTA by the Online Trading Academy. The broker was also awarded ‘The most preferred stock broker’ brand at the Awaaz consumer awards by CNBC Awaaz.
Sharekhan is regulated by the Securities and Exchange Board of India (SEBI).
The regulatory details provided by SEBI are not explicitly enumerated but Sharekhan is owned by an international group that owns a bank. This further strengthens the broker and safeguards clients’ investment.
The broker has also protected its website and platforms with the Secured Socket Layer (SSL) security technology. This further secures the trades, transactions and data transmitted by the clients over the internet.
During account creation, certain verifications are also required. Documents such as Pan Card, proof of residence and passport picture are required. These are in line with the broker’s policy.
Sharekhan services are only for clients located in India. The broker does not accept clients from other countries.
Dial – N – Trade
This is a service in which clients call some dedicated phone numbers to place their trades. Sharekhan has telebrokers who are ready to pick calls at specified times; for example currency trading over the phone is available from 9am to 5pm, Equities and derivatives are available from 8:30am to 4:30pm while commodities is from 9am until the market closes. Clients must have their Phone ID and TPIN become calling in. Sharekhan records all calls and a client can place unlimited orders with one call.
This is a trading platform designed to be light in graphics and general user interface. It is best for users on a low internet bandwidth with slow connections. It is user friendly and consumes very low energy.
Here are some of its features:
- Works on all browsers and compatible with all operating systems.
- Very light with fast page loading and minimum use of system resources.
- Easily place trades on the go.
- Live charting.
- Transfer funds to trading account from the platform.
- Live reports and updates.
This is the main Sharekhan mobile trading platform designed for monitoring and analyzing the markets as well as trading on the go. It is available for Android and iOS devices and can be downloaded from the respective app stores. The app is designed for both traders and investors.
Here are some of the key features of the app:
- Real time price quotes from various markets are displayed for all the assets.
- Up to 5 chart styles; Renko, Line, Bar, Area and Candlesticks.
- Different time frames from 1 minute to 1 year.
- Latest market news and updates.
- Supports fund transfers from bank to trading account as well as withdrawal requests.
- The online trading academy is accessible from the app.
This is the main proprietary trading platform from Sharekhan. It comes in 2 versions:
- Trade Tiger (Basic): Downloadable on Windows 7 or 8 OS with dual core, 1GB RAM and 40MB hard disk. It has minimal trading tools.
- Trade Tiger 184.108.40.206 (Advanced): Downloadable on Windows 7 and above, Intel dual core with 2GB RAM and 1GB hard disk. Dot Net Framework 4.0 and HD screen resolution are required. It features advanced trading tools and features.
The following are some features of the Trade Tiger platform:
- Fully customizable layouts, charts and interface.
- Multiple order types including bracket orders, bulk orders, stop orders, etc.
- Multiple tools including stock scanner, heat map and filter.
- Over 30 technical indicators.
- Advanced charting including Chart linking using period, etc.
- Trade directly from the charts.
- Traders can set price alerts.
- Powerful search function for finding trading instruments.
- News and research are featured on the platform.
- Access to the brokers online training resources.
Sharekhan provides buy and sell advice to its clients through the ‘latest calls’ section of the website. The signals are given on multiple stock trading instruments.
This section is updated frequently when the markets are in session. The scope is mainly on Indian markets, stocks and investments.
Portfolio Management Services
These are divided into Investment products and technical investment products. Sharekhan states that these portfolios are managed by experts, analysts, strategists, statistician and other experts. It is exclusively for high net worth clients because the minimum investment amount is Rs. 25 Lakhs.
This is an analytical tool from Sharekhan. It automatically scans the markets and notifies the trader when it identifies trading opportunities. During the night, the Pattern Finder scans the stocks using technical analysis principles and by morning, it gives the trader information on forecasted prices, charts and patterns. This information is delivered via email and sms alerts just before the markets open on the next day.
Sharekhan provides lots of education for both traders and investors. The broker regularly organises workshops in different locations throughout India for training its clients. In the workshop, attendees are taught how the markets work, why most traders fail and how institutions trade and control the markets. They are also taught how to locate high reward, low risk investment opportunities. The workshops normally last a few hours.
There are online courses designed according to durations. There are short courses, intermediate e and lifetime courses. These courses are comprehensive and the duration stretches from a few hours to a month or more. They are free to interested clients. Sharekhan has partnered with online trading academy to bring these courses to its clients. The following are the intermediate courses available:
- Ignite course: focuses on risk management, trading psychology and developing a trading plan.
- Stock investor course: focuses on fundamental analysis and market timing.
- Wealth essential course: concentrates on portfolio building, risk management and general investing.
The lifetime courses are:
- Core Strategy course: teaches demand and supply with a focus on stock trading. Also charting and technical analysis is covered.
- Professional Options course: This focuses on the options market and how to become a better digital options trader.
- Professional Futures course: focuses on the commodity and currency markets.
The following instruments are available for trading with Sharekhan:
- Forex Currency Pairs
Trading account: This account enables traders to trade equities, derivatives, mutual funds and other tradable assets. Shares can be bought and sold via this account. There are different trading accounts like Equity trading account, Commodity trading account, 2 in 1 trading account, etc.
Demat accounts: These are accounts that enable investors to hold shares and securities in electronic formats. Clients can manage their stocks held in this account. There are Regular Demat accounts, Repatriable Demat account and Non-Repatriable Demat accounts.
Insta MF account: This account enables investors to invest in Mutual funds through paperless online Mutual fund accounts.
As broker fees can vary and change, there may be additional fees that are not listed in this Sharekhan review. It is imperative to ensure that you check and understand all of the latest information before you open a Sharekhan broker account for online trading.
Sharekhan support attendants are available from 8am to 8pm, Mondays to Fridays. They can be reached by filling ‘Leave a Query’ form available on the website. The support team will usually reply within 24 hours. The team can also be reached via WhatsApp chat or using the online web chat. Emails and telephone lines are also available. On social media, they are on Facebook, Twitter and YouTube.
Sharekhan accepts cheques and bank transfers. The transfers are normally completed within a day because they are usually local transfers within India.
It is fast and easy to open an account online. Visit the Sharekhan website and click on “Open an account” which is found above the menu bar which is featured on every webpage of the website. Choose ‘Open trading account’. The form below displays.
Fill your name, email, phone number, select the nearest Sharekhan location, input Pincode and click on ‘Open an account’. The account will be opened if everything is in order. Fund deposits and trading can commence shortly afterwards.
Sharekhan is an Indian brokerage that offers trading and investment opportunities to its Indian clientele. It is regulated by the Securities and Exchange Board of India (SEBI) and also registered with other Indian bodies like the NSE, BSE and CDS. It is owned by BNP Paribas which means that it could be considered a financially stable firm, well capitalized and established.
The brokerage offers various trading and investment options. Clients can trade and invest in Forex, Funds, Bonds, Options, Futures, Stocks and ETFs. There are several managed portfolios and mutual funds for investment purposes. Clients can also buy and hold digital stock shares through Demat accounts.
The trading platforms are great especially the proprietary Trade Tiger which is complex and loaded with powerful tools for trading and analysis. The mobile app is also commendable as it is reliable, fast and user friendly.
However, the clients are limited to the Indian markets and the broker only allows clients based in India. Payment options are limited and even account currencies are only in Indian Rupees.
Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please refer the Risk Disclosure Document issued by SEBI and go through the Rights and Obligations and Do’s and Dont’s issued by Stock Exchanges and Depositories before trading on the Stock Exchanges. For commodities derivatives please note that Commodities Derivatives are highly leveraged instruments. PMS is not offered in Commodity Derivative Segment by Sharekhan Limited. Before investing in the asset class consider your investment objectives, level of experience and risk appetite carefully.