Richard Montana | June 27, 2022
Sharekhan is a leading Indian brokerage firm with an excellent range of trading and investment solutions built on modern, easy-to-use platforms. They can offer you investment packages, portfolio management and trading services on proprietary platforms which you can access via your desktop, web browser and mobile devices. Upon visiting the website, I was actually overwhelmed with the plethora of different options that are available. Upon further research and inspection, some of the key components include comprehensive workshops, vast educational resources and an abundance of powerful tools for conducting comprehensive market analysis. Despite seemingly having a great and diverse product offering, they currently only support clients based in India. If you are located elsewhere, please feel free to peruse our broker reviews for some alternative options. Otherwise, read on to find out more about one of the best brokers you can choose from in India.
Pros / Cons
- Versatile trading platforms including the sophisticated ‘Trade Tiger’
- Large range of financial instruments across various asset classes
- Professional market research and analysis
- Comprehensive trading academy and numerous workshops
- Corporate Social Responsibility is admirable
- Trading signals to inspire opportunities
- Portfolio management services
- Low minimum deposit to open an account
- Excellent customer support team
- Restricted to clients located in India
- Assets limited to Indian stocks & markets
- Limited payment options
Sharekhan is one of the biggest online brokerage and investment firms in India. Founded back in 2000, the broker is based in Mumbai but has several branches all across India. In 2016, it was acquired by BNP Paribas; a French based international bank group with a presence in several countries and millions of customers. Sharekhan offers forex, equities, futures and options, mutual funds, portfolio management and education. The broker boasts of millions of clients who execute over a hundred thousand trades every market day. I appreciate how Sharekhan has the policy of Corporate Social Responsibility (CSR) and has done a lot to better the lives of people within its operating environment. This broker is constantly doing social work in order to improve the living conditions for the people of India.
When it comes to choosing a broker, regulation is one of the first things that I look for. I am pleased to see that 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. I personally don’t have any issues with this regulation and believe they are a broker which can be trusted.
The broker has also protected its website and platforms with the Secured Socket Layer (SSL) security technology. I like this feature as it further secures your trades, transactions and data transmitted 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. If you don’t reside in India, you may wish to search for another broker through our broker comparison tool to find one that can provide services in your region.
You can explore seamless solutions for all your investments needs with Sharekhan platforms that run on devices of all shapes, sizes and bandwidths. The Sharekhan web experience is smart and hassle-free for traders and investors. It is enriched with new features, products, information and intuitive research to help users make smart investment decisions. No matter what your trading and investing needs are, they have got a trading platform for you
Dial & Trade
This is a service in which you can call some dedicated phone numbers to place your 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 are from 9am until the market closes. You must have your Phone ID and TPIN before calling in. Sharekhan records all calls and you can place unlimited orders with one call. I really like this feature as I haven’t seen it being offered by many brokers. In today’s day and age, placing trades over the phone is becoming almost absolute. It is nice to see a broker that is carrying on the tradition of old. I also like how it can help people who are not very tech-savvy to still participate in the trading industry.
Some of the key features of the Sharekhan dial & trade service include:
- Get advice on all market segments from the experts at Sharekhan
- Discuss and understand market trends with them
- Sharekhan offices are spread out pan-India
- They have got the infrastructure to record all the calls
- Place unlimited orders through one call
This is a neat little trading platform that is designed to be light in graphics and general user interface. It is best for those of you on a low internet bandwidth with slow connections. I like how it is user friendly and consumes very low energy. It is easy to navigate and capable of performing all of the most important activities you would expect from a trading app.
Here are some of the key features of the Sharekhan mini platform:
- 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 to keep track of the market at all times
- Transfer funds to trading account from the platform
- Live reports and updates
This is the main Sharekhan mobile trading platform designed for monitoring and analysing the markets as well as trading on the go. The app is designed and built for traders and investors alike. You can now trade across Equities, Derivatives from NSE and BSE and invest in Mutual Funds through the Sharekhan stock trading app. Features like advanced charts and measurement tools, Watchlist and so on allow you to make smart trading decisions while Portfolio customization and short cut bar allow you to monitor your investments.
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. I am a big fan of trading apps as I find them ideal for checking my trades and following the latest market news whenever I feel like it. You can seamlessly switch between each platform. For instance, you could use the web platform for conducting detailed analysis of the charts but follow the price action whilst on the move from the app.
Here are some of the key features of the Sharekhan 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
You can experience the power of broker’s terminal with Trade Tiger, the advanced online desktop trading platform. Whether you are a beginner or expert, it has something for every kind of trader. Trade Tiger comes in 2 versions:
- Trade Tiger Basic: This version has minimal trading tools for basic trading
- Trade Tiger Advanced: This version features advanced trading tools and features for complex charting
The following are some of the key 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 all of you through the ‘latest calls’ section of the website. The signals are given on multiple stock trading instruments. I think this is a great way to get inspired on some potential trade ideas. It can be especially beneficial for those who do not have the time to do their own market analysis and beginners who may not have the experience to identify such opportunities. Just be cautions and make sure you confirm any signal with your own market analysis. Remember, there can be no guarantee on performance.
This section is updated frequently when the markets are in session. The scope is mainly on Indian markets, stocks and investments. You can find lots of interesting news which can be implemented within your daily trading routine. I always like to follow the news when I am trading to make sure that I am aware of what is happening around the world and the potential impact that it may have on my trades. It is great to see the broker is encouraging informed trading decisions by including fundamental analysis alongside its already substantial range of technical analysis tools.
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. I think this service can be worth consideration for anyone who doesn’t have the time or market knowledge to be a self-directed trader. I personally prefer to maintain control over all of my trades but can see how this would benefit investors. Just like the trading signals, keep in mind that there is no guarantee on results and historical performance is not a reflection of what will happen in the future.
This is an excellent analytical tool from Sharekhan. I like how it automatically scans the markets and notifies you when it identifies trading opportunities based on a combination of complex price action analysis. During the night, the Pattern Finder scans the stocks using technical analysis principles and by morning, I really appreciate how it gives you 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. This is yet another great way to get inspired with trade ideas that you can use standalone or implement within your own trading strategies.
Sharekhan provides lots of education for both traders and investors. The broker regularly organises workshops in different locations throughout India for training its clients. I really like how 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 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 broker has plenty of financial instruments for you to trade and invest in, spanning multiple asset classes. I think there is more than enough to satisfy the needs of everyone, regardless of your interests. I certainly wouldn’t have a problem building a diverse portfolio with the multitude of options to choose from. The following instruments are available for trading with Sharekhan:
- Forex Currency Pairs
Although navigating around the Sharekhan website can seem like a minefield at time, when you finally manage to get your head around what it actually is that they are offering, the available accounts can be broken down as follows:
This account enables you 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.
These are accounts that enable you to hold shares and securities in electronic formats. You can manage your stocks held in this account. There are Regular Demat accounts, Repatriable Demat account and Non-Repatriable Demat accounts.
Insta MF Account
This account enables you to invest in Mutual funds through paperless online Mutual fund accounts.
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. I really like how the team can also be reached via WhatsApp chat or using the online web chat. This can be really useful in times of emergency or if you just don’t have the patience to wait around. Email support and telephone lines are also available. On social media, they are on Facebook, Twitter and YouTube. From reading around on the web, it seems like customer support is one of the areas in which the broker really excels. I am pleased to see this as it is something that I consider to be of the utmost importance when choosing a broker.
I actually found the funding options at Sharekhan to be quite limited compared to some other brokers. They only accept cheques and bank transfers. The transfers are normally completed within a day because they are usually local transfers within India. I think they could improve by adding support for some more payment options such as digital wallets and even cryptos.
Sharekhan is an Indian brokerage that offers trading and investment opportunities to its Indian clientele. I like that 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 should be considered a financially stable firm, well capitalized and established.
The brokerage offers various trading and investment options. You can trade and invest in Forex, Funds, Bonds, Options, Futures, Stocks and ETFs. I like that they offer several managed portfolios and mutual funds for investment purposes. You can also buy and hold digital stock shares through Demat accounts. The broker has very reasonable fees and plenty of resources to help you get started.
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. You have everything at your disposal for finding trading signals and making informed decisions.
However, the broker only allows clients based in India. Payment options are limited and even account currencies are only in Indian Rupees. Overall, I do think they can be a great choice for Indian traders who may also consider Zerodha as an alternative option.