I did share my views and experience with Religare, AnandRathi, Reliance Money, Indiabulls, HDFC Securities, Motilal Oswal, ICICIDirect and today I will share my views and experiences with ShareKhan.
We come to the final review in the series of Reviewing Major Stock Brokers and I did share my views and experience with
and today I will share my views and experiences with ShareKhan.
Positives
- Brokerage – If you have an account with some other broking house they will offer you better brokerage rate. Brokerage depends on your ability to negotiate.
- Very sound Online platform as well as the Windows application “Trade Tiger”. You can do everything using the online system or Trade Tiger application.
- Integrates well with your existing bank account and you do not need any extra bank account to maintain.
- Mutual Funds / IPO all can be done online without any hassle.
- Mutual Fund Fees is NIL. Yes you heard it right. There is no fees to transact in mutual funds online with ShareKhan.
- If you have a portfolio of over 500k you can get a Relationship Manager which is as good as Motilal Oswal’s Offline account facilities.
There is hardly any negatives that I am experiencing and this is one of the main reason to move all my equity based investment and trading into ShareKhan.
If you have more to share please do share them in comments. Your views not only help me with my decision to move everything to ShareKhan but also help other fellow readers.
Update 4th December 2016
In my December portfolio report, few readers noticed that for the first time I invested and shared the contract note of Zerodha as opposed to Sharekhan it is because ShareKhan on 15th of November had a horrible day.
I was blocked out of the market for a complete day.
I could not view my portfolio, could not place orders and could not trade for the full day.
This not only happen to my account but it also happened with my wife’s account as well.
This happened not only on the web end but my relationship manager could not place orders and told me it is system issue and Mumbai has been notified about it.
I just saw my stock falling and getting at levels I always wanted to buy and tried and tried and tried but all in vain.
I even transferred funds but just could not do anything after that and the funds did not reflect into my account till next day.
Few of my friends who have ShareKhan account had a similar issue.
This happens on the back of when I have invest 15Lakh Rs in a year and they have earned handsome brokerage for my investment.
It was a day when Pidilite hit a low of 585ish and I wanted to place an order to buy as close as possible to my lower band of my buying range which was 620 to 580 for me.
After such a horrible experience and not being able to trade for a complete day, ShareKhan management did not bother to email about what happened.
This is when I decided to switch back to Zerodha.
Zerodha had similar hiccups in the past but for few hours and not for the complete day and are brave enough to accept they had issues.
When you are charging 30 times more brokerage (Yes ShareKhan brokerage is 30 times more than Zerodha), you expect much better technical services and cannot have days when you just are blocked out of the market.
I was willing to add more to my portfolio but imagine those who are stuck in positions and want to square off as soon as possible to minimize losses?
sry the second oneis not speed trade,,it is fasttrade…
thank u,,finally,i got my kit frm sk…..i’m unable to use tt software,becauz my comp. Doesn’t support the requirements of this software…..i went to sharekhan website,where i clicked on ‘trade now’ option,and 2 more option came…1st classic account and 2nd speed trade…….tell me which should i select……..and also tell me ,is it ok to login first time frm website,thanx bro.
The best person to answer those are the SK support.
hellow sir ..how r u? i have query related to sharekhan..if someone having trade tiger account …can`t he login through sharekhan website or it is neccesary to download trade tiger…..if trade tiger account holder can login through website it means both classic and tt account holder able to trade through sharekhan website…..thanx and pls.reply as soon as possible
I have trade tiger account and I am able to login into the online interface as well.
HI ALL,
I have got SMS saying i have been registered by Power of Attorney to my DeMat Account by NSDL. Can you please suggest me what is this and is it good to have it? Or any link to understand it better.
Thanks in advance…
Does not sound bad and why don’t you call up your broker to understand what it is?
k,thanx again
can u suggest us any charting software ?
I use three of them
Broker’s application by Interactive Broker.
Yahoo Finance
Google Finance
Hi Shabbir , I had bought mutual funds of Reliance Diversified Power (G) and Dividend . Currently this fund is doing badly. My question should I continue holding this fund despite it not doing well now . The reason Iam asking is Power is a big sector in India , so looking into the future under such circumstances would it be wise to hold on or sell it off. Somia
Depends on your outlook and where the fund has majority of its investment.
Hi Shabbir , my question to you today is ..if a person has a mutual fund (A) whos value has gone down from say 2000 to 1000 and hence he wants to switch to another mutual fund (B) of the same group what will be the purchase price of the mutual fund (B) will it be 2000 or 1000
Somia, if you are switching fund is as simple as selling fund A at the NAV price and purchasing fund B at the NAV price on that particular day.
so it means sharekhan representative trying to over smart with me,,pls, tell me ,,what kind of action i can taken against those rascals
Ask them to show those type of documents are needed in written and then try to take any actions.
i registered MOSL,,they told me to provide cancelled cheques…,,but sharekhan representative asked to provide two blank cheques with my signature……what to do,,,,help
I would not give give anybody blank signed checks without any name on it no matter what could be the reason.
HI I`M BACK with another question,,,if u open an account with sharekhan they ask u to give 2 bank cheques as a security..but.what about MOSL it also asks for cheques or not
Bank cheques are never for security but those are cancelled cheques to keep record of your bank account.
ohhhh…..k thanx
what about `a` category shares,,i think there are always sufficient buyers for it,, specially those security which are in nse and in bse index
Yes always but the scenario I referred can even happen to the most actively traded counters also depending on your order quantity and queue of order.
i`am completely confused,,,,today i got some bad review of MOSL,,,don`t know should i go for it or not,,,i have only two option sharekhan or MOSL..pls, guide me,,,
one more question,suppose i have 100 shares of tcs {purchased it in 1000rs. per share} now i put sell limit order of 1010rs. per share,,,now if the price of share go to 1010rs only for 5 to 10 seconds then downwards starts…..so tell me my selling order will execute or not because it touches target just for seconds
Sudhip, if there are sufficient buyers for your sell order it will get executed else it may even get partially executed.
Say if exchange have 2 sell orders at the price of 1010. You were the second in the queue and first order was for 100 shares and your second order is for 10 shares. Now somebody punched an order to purchase 105 shares at a price of 1010 when that was the price for a second. Your 5 shares will be traded and rest will be pending. I hope I have made myself clear.
i know,this is not only my question…this kind of question comes in mind of every new begginer in trading
Yes very true.
gr8 ….,i`ll not go for margin at any cost,,,thanx alot..
Great and I am writing the post for other readers as well on the same topic. Stay tuned …
sry for mistake in written …..read it after remove both `most` words……
u tell me ,,,should i use margin or not….yesterdai i met the mosl represantative of mosl,,,they told me to provide margin plus facility in which i1ll get 20 times for intraday
I don’t use it and that is all I can say. Answered you why I don’t use margins but now let me tell you what could happen in worst case scenario if you use margin of 20 times.
You have 1L in your MOSL account and so now you can trade for 20L
Say on 20L you hit a stop loss of 2% which is 40,000 Rs. Make sure you are prepared for a wrong trade as well where 2% in either direction is possible.
Now if I would have 1L in my account I would trade at the most of 25,000 only and even if I hit a loss of 5% I would be losing less than 2% of my trading assets.
Think about it before you trade.
y do u not use margin ?[ i always learn something from u }
Simple because I only risk 25-30% (many times more as well) of my trading portfolio and make a loss of 5% on my traded value giving me loss of less than 2% of my total asset per trade.
This gives me peace of mine to book losses as well and I can book losses very easily.
In a month if I make only 60% profit trades then also I make more than 20% at times using this strategy and so why do I need to use margin then.
Here is the post on why I don’t use margins – http://shabbir.in/no-margin-trading/
ok thank u….+can u tell me what`s the margin limit of mosl for intraday….thanx in advance
Again Sudhip, I never use the margins but it is 2-3 times. I always trade for 3-4 times less than my cash level in my account.
kabhi kuch puchna pade toh…isliye….agar nai batana chate toh it’s ok
Not that I don’t want to tell but putting email in such public pages would lead to lot of spam. Email me using contact us link and I will reply with my personal email which you can add in your address book.
ok,…..thanks again,may i get ur email id pls,
Why you need that?
thanks, u help others,god will help u,it’s really good to talk to u,becauz u don’t ignore any one’s query,thanks again dude
No I don’t do that intentionally.
it means ,shares we purchase excuete within seconds,am i right? Dear.,…..
Yes. Each transaction is executed within transactions but you may get delivery of shares couple of days after.
pls. Mere question ka jawab dijiye na….pls.
Wait for sometime to see the question and then answer. On Saturday afternoon if you expect a reply in few minutes. I have answered now.
hello,, how r u ? i have a query…..i am going to open demat and trading account in msol….my question is that if we purchase or order any share….how long it takes to exceute,,,pls, pls,, pls,, reply
To purchase shares it is instant purchase and sale.
tank u shabbir sir….it was first time when i ask question on forum and got answer within 24 hours…thanx again ,,,u r doing well..
The pleasure is all mine Sudhip.
hlo shabbir ji,i am going to open an account with sharekhan,,,i hv saving account with sbi,can u tell me how can i transfer funds to demat account,becauz sharekhan is not linked up with sbi,can i transfer funds frm sbi internet banking,also suggest me should i go for motilal oswal or sharekhan?amd which is the best,thank u
Sudhip, if ShareKhan don’t offer transfer from SBI you will not be able to do online transfer and so probably check will be the only option. Ask the sales person and they would be able to help you more than me.
I would like to know the comments on the quality of analysis / research sharekhan provides
I would rate is as average.
Hi , thanks how would you rate Equitymaster Research
I don’t use it and so will not be able to comment much on it.
Hi Shabbir , Thanks for all your prompt replies. Since I am service holder I would like to get some expert opinion while choosing stocks . Can you suggest any such site where i can get a bit of subject matter expertise while selecting stocks/ funds
Somia, refer Valueresearchonline for funds and moneycontrol for stocks.
Hi Shabbir!
Thanks for all information on your site.
Please suggest me some advice on entering in share market, i m just planning to invest. What should be the minimum amount to start? And also is it fine to start trading using SBI’s (Bank Account+Demat Account+Trading Account) Securities?
Please need help!!
I would not recommend trading under 1 lacs
Hi Everyone,
If your time is bad if you get a call from them offering a service called “Adviseline” subscribe to it if you want to lose your money.
Its nothing but cheating customers. They will not send you any calls moreover they will test your patience. Don’t fell with their promises.
Telling you with experience just to prevent you all from falling prey to this scam service from Sharekhan. Rest is your decision/fate.
Hi Shabbir,
Have tried most of the above and now trading with Zerodha, http://www.zerodha.com…. For f&o traders like us, it is a boon…You could probably review them also, definitely not in the league of these guys in terms of big names, but I think the most efficient brokers I have dealt till date…
Kunal…
Kunal, I can review them but I will do that only when I have an account with them. If you want to review them I will be more than happy to publish it here for the readers.
Thanks for your reviews on Major stock brokers. Can u please post your review about india infoline also.
I don’t have personal experience with them and so cannot say much about them.
dear all,
I am working in sharekhan as a RM.
If any of u interested to open a online account with low brokerage ( .2% delivery and .02% intraday , without any commitment on brokerage generation or advanced brokerage. I can open an account for persons living anywhere in india. You will also get Sharekhan Trade Tiger software, which I believe is best in india.
Other charges apart from brokerage: yearly demat charges of 400 Rs ( first year it will be free of cost)
Please contact me. Dear Shabbir Sir, you looked like an experienced Investor, please submit this post in your blog , so if any of your readers like to open account with low brokerage can contact me.
Many Thanks.
Rahul
By the way , i think contact details are missing of rahul
one call me regarding to open of demat a/c and again u r not contacted me i am interested in opening of demat account
sir,
i’m new to trading recently i have opened my Demat A/c in Sharekhan but all are scaring my now with brokerage i would like to buy share which are below 50rs but sharekhan ppl are going to charge 0.10paisa per share it seems is it true plz help me…is it right A/c to invest traders like me?
Ram, your brokerage plans depends on how well you can negotiate and so I am not sure I can help
pls tell your views about karvy stock broking,ther also int online account i am new and expecting your views.
Ragu, I don’t have account with them and so cannot comment on their services.
Hi,
Any chance, can you review, shriraminsight broker
?
Nope because I have no personal experience with them
THANKS FOR SOME POSITIVE POINTS ABOUT SHAREKHAN AS I M WORKING WITH SHAREKHAN AS AM HNI FOR ALL PMS RELATED INFO:
Regards
Sourabh
sharekhan
pune
Sourabh, The pleasure is all mine but I prefer to speak my heart out and so at times many don’t like. My Review of PMS service by ShareKhan will not please you much.
Hi,
Its a good review of Sharekhan. In fact Shabbir Sir I also share same view that both Sharekhan and MOST are good. Its just
that MOST charger are a bit higher. and that is the reason after successfully trading with sharekhan for the last 5 years I
decided to work full time on share trading and so I took franchise of Sharekhan. So my humble request to all the readers to
please check my site and if interested cpntact me for account opening at sharekhan.
Many Thanks
Ankur
Hi Shabbir,
Nice piece of information. Can you please provide me your contact number and email ID as I need to discuss some points with you… if thats ok with you…
Awaiting your reply…
Regards,
Bharti
See my contact page Bharti
Hi Shabbir,
Will trade tiger have an equivalent (or will it work) on Mac OS?
Also, is internet explorer required? What about safari, google
chrome or mozilla firefox?
thanks
Sudhakar
I am not the right person to comment on the compatibility of trade tiger on MAC but yes their website works fine on FF
Any idea about Edelweiss..
Nope no personal experience.
please advice on Moyilal oswal, edelweiss and Way2wealth from BTST, intrasay and advisory point of view.
Rajnedra
Pls advice regarding Edelweiss broking also…thanks
Newer ideas and strategies are developed rapidly and thus back testing becomes part and parcel of this regime. Thanks for this useful information.
should we give power of attorney to the stock brokers? have u given it?
Yes I have given it knowingly and have been doing that for quite some time. Even other brokers including Motilal does the same or else they will not be able to trade in your account over the phone.
i will request u to please visit mouthshut.com and see for sharekhan reviews…also, they take power of attorney…also they have many hidden charges…when i used to aplly for ipo, there used to be 2-3 orders instead of 1 …so may be they are taking advantage of it…
Mayur, Yes I have already read them before I opened an account and I did not faced problems mentioned here – http://www.mouthshut.com/product-reviews/ShareKhan.com-925000437.html
Nice Reviews…Shabbir
So finally the winner is ShareKhan… 🙂
Looks good to me as well. I will try to study their details.
Currently I am having demat account with Geojit BNP Paribas. Can I have your thoughts on this pls?
Suraj, I do not have an account with them and so cannot comment. Yes ShareKhan is the winner but still I would classify ShareKhan & Motilal Oswal both as winner.