I had opened the Sharekhan demat account in year 2007. But, I switched to Zerodha in year 2012 owing to Sharekhan brokerage charges 2024 which was insanely high.
Commission charged by Sharekhan is on higher side because they are full service brokers who offer wide variety of services.
But I wanted trading account with lower brokerage charges and no additional service requirement. Zerodha suited my requirements and hence I took decision of switching to them.
Suggested Read : Sharekhan Vs Zerodha – side by side comparison
Sharekhan Brokerage – Introduction
Sharekhan, as on date is one of the major stock broker of India with more than 14 Lakh customers.
The company was established in year 2000 and was part of SSKI group. In 2015, BNP Paribas acquired Sharekhan for Rs 2200 crores.
They have huge network of branches and franchise over 550 locations in India. Sharekhan has more than 1800 offices and also has presence in Oman and UAE.
Sharekhan is 3rd biggest stock broker of India after Zerodha and ICICI Direct.
You can read our detailed review of them and thier offerring in Sharekhan review page
Lets look into the brokerage charges of Sharekhan for each segments like equity, currency and commodities.
Below table is the summary of the Sharekhan Fees for segment wise. We shall see detailed charges in next sections.
Now lets see the detailed charges of Sharekhan for each segments. The charges mentioned are of default plan.
My suggestion is, you can negotiate with the sales team when they approach you for account opening.
There is cut throat competition in brokerage industry after discount brokers started their operation. So they will reduce the charges if you negotiate hard.
Sharekhan Delivery Brokerage Charges
If you buy shares of any company and dont sell it on the same day, it is called delivery trade. Because you are taking delivery to the demat account.
Sharekhan Charges 0.5% of the traded value. That means if you buy shares worth of 10 Lakh, the brokerage charged is Rs5000.
Now compare this with that of Zerodha where there is no brokerage on delivery trades. Because of the same reason, I went on to open account with Zerodha
Suggested Read : 9 Best Demat Account In India.
Below is the Sharekhan Brokerage Charges for delivery segment.
Sharekhan Intraday Brokerage Charges
If you buy and sell the shares on same day it is called Intraday trading.
Making money through intraday is considered very difficult. But few professional traders make their living entirely from intraday trading.
So they need someone who charges lower charges. Sharekhan’s brokerage slabs does not suit them.
Sharekhan charges 0.1% of traded value. That means if you trade Rs 10 Lakh worth of shares, charges would be Rs 1000.
Again, if you compare with that of Zerodha which is Rs20/trade, it is quite high.
Suggested Read: Best Demat Accounts for Intraday Traders of India
Below is the Sharekhan Brokerage Charges for Intraday segment.
Sharekhan Equity Futures Brokerage Charges
Futures trading is for experienced trading where both gain and loss are high.
Sharekhan charges 0.1% for the first leg (First transaction , either buy or sell).
For the second leg, if the open position squared off on same day it is charged 0.02%. Hence it is beneficial to intraday futures traders.
But of you carry the position to next day, it is levied with the same charges as of first leg , that is 0.1%
Find complete details below for Futures segment.
Sharekhan Brokerage Charges – Equity Options
In my opinion, Sharekhan is big no to options traders.
The charges are per lot basis and it is Rs250 per lot. Options traders can save huge money by trading with discount brokers.
As discount brokers charge per order basis, it does not matter how many lots you trade. So per lot brokerage charges gets reduces with them.
Read : Best Stock Brokers in India for Options Trading
Find complete details below for Options segment.
Sharekhan Brokerage Fees – Currency Futures
In India, trading of foreign currency allowed only against INR. Cross currency trading like USD/GBP is illegal.
Find complete details below for Currency Futures segment.
Sharekhan Commission – Currency Options
Below are the details for Currency Options segment.
Sharekhan Brokerage – Commodities
Find complete details below for Commodity segment.
Apart from the regular brokerage plans which I mentioned above. Sharekhan has few plans who wish to avail the lower brokerage chrges.
They have to plans
- Pre-Paid Brokerage Scheme
- Post Paid Brokerage Scheme
Sharekhan Pre-Paid Brokerage Scheme:
As name suggest, you need to pay brokerage charges upfront. By doing so, your brokerage slabs are reduced when compared to regular slabs.
Higher the upfont amount you pay, lower will be brokerage slabs.
For example, if you pay Rs2000 upfront charges, the brokerage of delivery trades gets reduced from 0.5% to 0.4%.
Below table shows the complete details of the Sharekhan Prepaid brokerage plans.
But keep in mind that the amount you pay is non-refundable. So plan well in advance
My advice is to go for this scheme only if you are sure of trading regularly so that you generate that much of brokerage you have paid upfront.
The duration of plan is 12 months. So if you don’t consume all the paid brokerage, it will lapse.
Sharekhan Post-Paid Brokerage Scheme:
Here you deposit margin amount. This money is not adjusted against brokerage.
You are free to use this deposit for trading. For example, if you deposit Rs 1,00,000 in your account, then the brokerage slab gets reduced. You can use this entire 1lakh to purchase shares.
So this works better compared to perpaid scheme as there is no risk of loosing the money if you could not use it.
Below table gives gist of Sharekhan Post paid brokerage scheme
There is no account opening fees for Sharekhan. The Account Maintenance Charges (AMC) is also waived off for first year.
However, an AMC of Rs400 + Taxes is charged per year from second year onwards.
Sharekhan Brokerage Charges – Final Thoughts
Sharekhan is a premium broker offering wide variety of services and products. They employ large number of employees to their day to day operations.
Because of all the overheads they ought to charge higher brokerage charges.
If you are worried about higher brokerage charges of Sharekhan then you should look for economical options available in market.
If you are still confused and need any help from me, please leave your contact details below.