Sharekhan Review

Overall Sharekhan is a trustworthy and low-risk broker with a high overall rating of 8 out of 10. FXOpen is authorized and regulated by CDSL and offers leverage that can now increase your exposure up to 10 times the available margin and maximize your returns.

Sharekhan at a Glance

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

SEBI, CDSL, BSE, NSE, MCX

Trading Platform

Proprietary Platforms, TradeTiger

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Choose your quick section of our Sharekhan review below.

 Sharekhan Review – 22 key points quick overview:

1. Sharekhan at a Glance
2.  Sharekhan Review – 22 key points quick overview:
3. Sharekhan Overview
4.  Sharekhan Safety and Security
5. Sharekhan Leverage
6. Sharekhan Accounts
7. Sharekhan Market instruments
8. Sharekhan Fees
9. Sharekhan Deposit and withdrawal
10. Sharekhan Trading platforms
11. How to open a Sharekhan account step by step
12. Sharekhan Customer support
13. Sharekhan Education
14. Sharekhan Research
15. Sharekhan Awards
16. Sharekhan vs Etoro vs XM – Comparison Table
17. Sharekhan Best Countries by Traders
18. Sharekhan Customer Reviews
19. Sharekhan Pro and Cons
20. Conclusion
21. Disclaimer
22. Frequently Asked Questions

Sharekhan has been recognized globally by winning various multiple awards.

 Sharekhan Overview

According to research in South Africa,  Sharekhan is an Indian forex broker company based in Mumbai.  The company was founded in 2000. Sharekhan is a subsidiary of BNP Paribas which has a banking background and is listed on the Euronext Paris Stock Exchange. It is also regulated by the Securities and Exchange Board of India.

Sharekhan is also one of the largest full-service brokers with a client base of more than 1.4 million.

The company was one of the first to introduce India to online trading. It now has branches and franchises in over 550 cities and an international presence in Oman and UAE countries.

 Sharekhan Safety and Security

One of the best benchmarks to measure the safety of a broker like Sharekhan is to establish which regulating authorities are watchdogs over its actions.

Sharekhan is regulated by the Securities and Exchange Board of India. They are in the brokerage business for 20-plus years and are among the most trusted brands among stockbrokers. The company is a member of CDSL, BSE, NSE, and MCX.

Sharekhan Leverage

Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.

Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.

For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades; otherwise, your trading account will be fully hedged.

With Sharekhan you can now increase your exposure up to 10 times the available margin and maximize your returns.

Sharekhan Accounts

A forex account at Sharekhan is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.

Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.

Sharekhan offers the following types of accounts:

The first step (For beginners)

Investor Classic (For Investors)

Trade Tiger (For active Traders)

Advisory (For high net-worth Individuals)

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

SEBI, CDSL, BSE, NSE, MCX

Trading Platform

Proprietary Platforms, TradeTiger

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Sharekhan Market instruments

The most popular market instruments available from most brokers for trading include:

Forex

Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices

Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies in a nation.

Precious metals

The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.

At Sharekhan you can trade with almost all asset classes, except bond, CFD, and crypto. On the negative side, it gives access only to Indian markets.

Sharekhan Fees

Cost depends on different factors, like spread and margins, and Sharekhan clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

Sharekhan trading fees are low but not transparent. There was no official information about the fees on their website. You could get information only if you contact the customer support team or after you opened an account you get some documents about the pricing.

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

SEBI, CDSL, BSE, NSE, MCX

Trading Platform

Proprietary Platforms, TradeTiger

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Sharekhan Deposit and withdrawal

Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.

For the withdrawal and deposits, Sharekhan does not charge any fees. However, you can only use bank transfers and INR is the only base currency that can be used.

Sharekhan charges a one-time fee for trading accounts for example an account opening fee of INR 750 for its classic account and INR 1,000 for its Trade Tiger account.

These charges are later adjustable against the first six months’ brokerage.

For the DEMAT account, though the opening fee is NIL, there is an AMC of INR 400. This fee is waived off generally for the first year with the trading account.

Sharekhan Trading platforms

The forex trading platform provided by Sharekhan to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

Sharekhan provides their TradeTiger and their own Sharekhan Desktop-based Trading Terminal plus their mobile app.

How to open a Sharekhan account step by step

Opening a demo account with Sharekhan is a relatively simple process, which will consist of the following steps:

Step 1 – Open Your Account

Visit the Sharekhan website, Click on “Open an Account” on the  right-hand corner of the website

Step 2 – Fill out the form

Similarly to a bank, to register a forex trading account with Sharekhan for the first time, you will be required to go through a basic “know your customer” process, which will allow Sharekhan to ascertain that your submitted details and ensure the safety of your funds and account details.

Overall Rating

• 4.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

SEBI, CDSL, BSE, NSE, MCX

Trading Platform

Proprietary Platforms, TradeTiger

Crypto

Yes

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Sharekhan Customer support

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

In the case of Sharekhan customers can reach the support team via live chat, telephone, and email.

Sharekhan Education

Before starting to trade, potential clients of Sharekhan should avail themselves of all possible information and skills needed to succeed in the world of forex and commodity trading.

Sharekhan offers newcomers platform tutorial videos, general education videos, educational articles, and free workshops.

Sharekhan Research

To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitably as possible.

With Sharekhan traders get clear recommendations, can access fundamental data, and use a good interactive chart, especially on their own platforms.

Sharekhan Awards

Being an awarded company instills extra confidence in traders. Sharekhan can show several awards accumulated during its years in business, including the following:

Best performing retail member at NSE Achiever Awards 2018

NDSL Star Performer Awards 2018

NDSL Second Top Performer in Accounts Opened 2018

BSE Top Volume Performer 2018

MCX Best Commodity Retail Broking 2018

MCX Best Commodity Retail Broking 2019

NDSL Leader in Go Green Initiative which was awarded for the second time in a row. They also won the NDSL Go Green Initiative award in 2014 as well as 2015.

Sharekhan vs Etoro vs XM – Comparison Table

Sharekhan Best Countries by Traders

Sharekhan Customer Reviews

I reached out to the Sharekhan team with some feedback on an experience I have had with one of its branch employees. My intention was to bring it to the attention of Sharekhan management so that they can improve their service.

I was pleasantly surprised to not only get an acknowledgment of my message right away but to also receive a prompt follow-up call within a few hours. Mr. Jafar who I first spoke understood my concerns very well and promised to do his best to provide a resolution. True to his words, he followed up internally and made sure a quick resolution was provided that matched world-class customer service. I traveled the world and can say that the kind of redressal provided by Mr. Jafar is the best of the best. Truly world-class. Many thanks to you, Mr. Jafar.

As I often say, brands are built by their people and I hope Sharekhan has more people like Mr. Jafar in their customer service and relationship management teams. Also, thanks to the local branch executive and Ms. Afrin for being on top of the issue and closing the loop.

First of all Sharekhan platform is good hence 2 stars.

But once you enter their professional premium courses suddenly they become highly sophisticated and charge approx 2300/- for two days orientation session which is truly not helpful in decision making.

And the worst part is as soon as they finish this orientation they ask to pay a huge fee ranging from 2.5 lakhs to 4 Lakhs_ 18%GST for their premium courses without giving a single day to think over it. The counselor will inform in advance but not in a clear tone.

If you choose and pay the charges they are happy,

And if you ask for 1-2 days to think over it / say NO then they become furious and tell us that we as a customer are negative, we won’t get any entry in the future, and we are losing once in a lifetime opportunity.

If we ask what is the success rate of students earning or what is the wealth created by so-called world-class trainers. they will blame you and they will block your numbers too.

I had a tough time with the OTA people recently, so if you are thinking to go for a premium course on Sharekhan OTA make clear everything in writing.

Hope this helps.

Arvind

Sharekhan is a more suitable benefit company. Sharekhan provides more return by using good share conditions in the market. Sharekhan provides a good guideline for good money invested in the share market. I take to buy 200 shares by Sharekhan company. after 2 years more returned to me. this is a better option for money invested in Sharekhan.

Sharekhan Pros and Cons

Conclusion

Overall, Sharekhan is a  trustworthy and reliable broker that provides traders with ample digital tools. Sharekhan provides their TradeTiger and their own Sharekhan Desktop-based Trading Terminal plus their mobile app. Sharekhan is regulated by India, CDSL, BSE, NSE, and MCX.

Disclaimer

Sharekhan warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.

Before deciding to trade with Sharekhan, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

Sharekhan warns that margin trading involves the potential for profit as well as the risk of loss and those movements in the price of foreign exchange and commodities are very unpredictable, hence Sharekhan cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

Frequently Asked Questions

 How many instruments can I trade with Sharekhan?

You can trade several different instruments with Sharekhan, which include the following:

Stock

ETF

Forex

Fund

Options

Futures

Which platforms are supported by Sharekhan?

Sharekhan provides the following popular trading platforms:

TradeTiger

Sharekhan Web-based Trading Platform

Sharekhan Mobile App based Trading Platform

Does Sharekhan offer leverage?

Yes, you can now increase your exposure with Sharekhan up to 10 times the available margin and maximize your returns.

Does Sharekhan charge commission?

There was no official information about the commission on their website. You could get information only if you contact the customer support team or after you opened an account you get some documents about the pricing.

What is the overall rating out of 10 for Sharekhan?

8/10