Background of Sharekhan
Sharekhan was incorporated in the year 2000. Today, Sharekhan holds a 3rd rank as a largest stock broking company followed by HDFC Securities and ICICI Direct. The branch network of Sharekhan is spread across 550 cities of India with more than 1800 representative offices that include its branches and franchises as well. Not only in India, the company has its presence in UAE and Oman as well. It offers its services through its website www.sharekhan.com and it is one of the finest investment portals. Customer base of Sharekhan is wide enough and has exceeded 13 lakh customers as at December 2014. The set of customers that are offered services by the company are individual investors, traders, corporate, institutions and NRI’s.
Sharekhan majorly deals in BSE, NSE, MCX and NCDEX. Equity cash and derivative segments are traded on BSE and NSE and commodities are traded on MCX and NCDEX. Apart from trading, the other service offered by Sharekhan to its customers is demat account (depository services). It also offers its customers an option to invest in Initial Public Offers (IPOs) and mutual funds. To summarize the services offered by Sharekhan, it includes trading in equities, trading in futures and options, commodity trading, investment in IPOs, investment in mutual funds, insurance, bonds and non-convertible debentures.
For the benefit and ease of customers understanding and ease of their operations, the company provides through its website information like wide range of investment alternatives, news on the share market, research reports, stock quotes, fundamental analysis, Statistical information on equities, IPOs and mutual funds, etc. It is registered as a depository participant with National Securities Depository Limited (NSDL) and (Central Depository Services India Limited) CDSL.
Trading Platforms of Sharekhan
Sharekhan Trade Tiger is a boon for retail investors. It is similar to the broker terminal. Sharekhan Trade Tiger allows the traders to trade at a high speed, i.e. the frequent traders can place their orders and get them executed at a high speed through this terminal. Apart from the speed, the terminal offers its users the facility of seeing live data along with other tools without changing the screens.
Trading though mobile application is offered through its ‘ShareMobile’ Platform. This mobile app can be worked on using any of the devices like iPhone, iPad, Blackberry, Android including many other mobile phone sets.
Brokerage Charges and Plans of Sharekhan
In order to suite the varying requirements of customers, Sharekhan offers variety of accounts. Accounts offered by Sharekhan are Sharekhan First Step Account, Sharekhan Classic Account, Sharekhan Trade Tiger Account and Sharekhan Platinum Circle Account which offers Portfolio Management Services.
- Classic Account – With a classic account, an investor can trade online in stocks and as a helping tool, can enjoy the facilities like multiple watch list, integrated banking, demat account, digital contracts , instant credit and transfer, price alerts and real-time portfolio tracking. There will be an online trading account for the individual investors so as to allow them investing in equities and derivatives. Investors will get a benefit of free trading through phone which is known as Dial-n-Trade. In this feature, investor will get two numbers dedicated for him to place his orders from his mobile or landline number. For Citibank and HDFC Bank account holders, automatic fund transfer is available through phone banking. Investor will also get a facility of after hours order placement. With Classic Account, investor’s accounts viz. online trading account, bank account and demat account will be integrated. There will be a single screen interface for the customers for cash and derivative trading.
- Trade Tiger Account – This application is mostly suitable for the active traders who trade frequently during the trading session in a day. It is a web based executable application. It is a single platform which serves the multiple exchanges viz. BSE, NSE, MCX and NCDEX. The user can view multiple market watch on a single screen. In regards to online transfer of funds, Sharekhan has tie-up with 12 banks for this account. Those who can read graphs can certainly be benefitted out of this account as the account provides various graphs including averages, Band-Bollinger, etc. In addition, various tools are made available to the user like Tick Query, Action Watch, Market Summary, etc.
One time Trading account opening is Rs 750 and annual maintenance charges of trading account is Rs. 450. Annual maintenance charges of demat account are Rs. 400. Brokerage on equity delivery is 0.50%, brokerage on equity intraday, equity future, currency future and commodity charges is 0.10%. Minimum brokerage charges are Rs. 0.10 per share.
Unique Selling Proposition of Sharekhan
You will get a regular advice on investment from its portal, which is published after conducting lot of research. In addition, tips on the stocks, bulletin on quarterly analysis of companies and news alerts through emails and messages on the portal adds on the value of Sharekhan for its customers. The online help offered by the Sharekhan acts as a helping tool for the investors. Not only this, it also provides free seminars and workshops to its customers. The facility is available in online form and as well as in classroom forms.