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Sharekhan Review

Investing Brokers

June 24, 2026

Below is an expansive, in-depth review of Sharekhan, one of India’s leading full-service brokerage firms. This comprehensive analysis covers the company’s history, regulatory environment, account types, brokerage structure, trading platforms, research offerings, customer service, advantages and disadvantages, and much more. By the end of this review, you should have a solid understanding of what Sharekhan provides and whether it may fit your trading or investment objectives.

1. Introduction & Background

Who is Sharekhan?
Sharekhan is among the pioneers in the Indian retail brokerage landscape, launched in the year 2000. Over the last two decades, it has emerged as a major full-service broker by combining technology-driven solutions with traditional relationship-based services. With a strong offline presence through hundreds of physical branches and franchise outlets across India, Sharekhan caters to both urban and semi-urban clients looking for personalized support.

Corporate History and Ownership

• Founding: Established by Shripal Morakhia in 2000, Sharekhan was one of the first brokerage firms in India to adopt the online trading model for retail customers.
• BNP Paribas Acquisition: In 2016, the global banking giant BNP Paribas acquired Sharekhan. Under BNP Paribas, Sharekhan expanded further into digital transformation, wealth management solutions, and personalized advisory.
• Brand Identity: Despite the corporate changes, the Sharekhan brand has remained consistent, recognized by its signature color scheme and the iconic “Tiger” logo—conveying agility and robust market presence.

Regulatory Environment

• SEBI: Sharekhan is registered with the Securities and Exchange Board of India (SEBI), ensuring compliance with regulatory guidelines for stockbrokers.
• Exchanges: Member of major Indian stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
• Depository Participant: Registered with both NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited) for demat services.

2. Demat & Trading Account

Sharekhan offers a 2-in-1 account comprising a trading account (for executing orders on the stock exchanges) and a demat account (for holding securities in electronic form). Details include:

1. Demat Account
   • Holds stocks, bonds, ETFs, mutual fund units, etc. in dematerialized form.
   • Seamlessly integrated with the trading account.
   • Account statements, transaction details, and corporate actions can be tracked via Sharekhan’s portals or customer service.
2. Trading Account
   • Enables buying/selling on the NSE, BSE, and commodity exchanges (if activated).
   • Linked automatically to the demat account for automatic settlement of shares.
   • Facilitates intraday trading, delivery-based trades, F&O (Futures & Options), currency trading, and more (depending on the client’s chosen segments).

Account Opening Process

• Offline: Potential clients can walk into a Sharekhan branch or franchise, fill out physical forms, submit identity/address proofs (PAN, Aadhaar, etc.), and complete In-Person Verification (IPV).
• Online: Sharekhan has streamlined online onboarding using e-KYC. You can sign up via their website or app, submit PAN, Aadhaar-based details, verify identity, and e-sign documents.
• Documents Required: PAN card, address proof, bank proof (cheque/cancelled cheque, bank statement), passport-size photograph, plus any additional KYC documents as mandated by regulations.
• Account Opening Charges: Typically, Sharekhan charges one-time fees for account opening. This fee may vary based on promotions but has historically been around INR 0 – INR 750 for trading+demat combined. Always confirm current pricing on their website or through official channels.

Annual Maintenance Charge (AMC)

• Sharekhan charges an AMC for the demat account. Usually, it is in the range of INR 400 – 600 per year. Some promotional offers may waive the AMC for the first year or have a different structure.

3. Brokerage Plans & Pricing

As a full-service broker, Sharekhan’s brokerage model typically involves a percentage-based commission structure. However, the firm periodically introduces promotional or volume-based discounts. Below is a general breakdown:

1. Equity Delivery
   • Brokerage around 0.50% (or 50 basis points) on the trade’s turnover (value of shares purchased or sold). This rate may vary or be negotiable for high-volume clients.
2. Equity Intraday & Derivatives (F&O)
   • Equity Intraday: Typically 0.10% (10 basis points) on buy side and 0.10% on sell side, or sometimes 0.10% on one side and 0.02% on the other. The exact structure can vary.
   • Futures: About 0.10% on the first leg, or a flat fee per lot if negotiated. Sometimes it’s around 0.05% of the trade turnover.
   • Options: Commonly a flat rate per lot (e.g., INR 50 – INR 100 per lot) or a percentage on the premium. Sharekhan may also offer special plans with lower per-lot fees.
3. Currency Derivatives
   • Brokerage in currency futures is usually lower. Often around 0.03% – 0.05% of turnover, or a flat fee per lot.
   • Options on currency might incur a nominal flat fee.
4. Commodities
   • Available through Sharekhan Commodities Pvt. Ltd. Typically around 0.10% for futures or a per-lot model for options, with variations depending on the contract.
5. Negotiated / Special Plans
   • High-net-worth individuals (HNI) or heavy traders may negotiate better brokerage rates or pick tailored packages.
   • Sharekhan also offers subscription-based plans, Trade Tiger ADVANTAGE or similar, which can reduce per-trade costs in exchange for a monthly/quarterly fee.

Other Charges

• Transaction/Turnover Charges: Levied by exchanges and passed on to the client.
• GST: 18% on brokerage + transaction charges.
• STT (Securities Transaction Tax): On delivery trades (0.1%), intraday trades, F&O, etc., as mandated by the government.
• Stamp Duty: Varies by state.
• Call & Trade: Some nominal charge (e.g., INR 20) per order if placed by phone with a dealer.

4. Trading Platforms

Sharekhan has invested heavily in technology, offering a suite of trading platforms:

4.1 Trade Tiger (Desktop Platform)

• Overview: A highly popular terminal-based software used by active traders for its speed, reliability, and advanced features.
• Features:
  • Real-time streaming quotes.
  • Advanced charting with multiple timeframes, technical indicators, drawing tools.
  • Customizable watchlists, alerts, hotkeys.
  • Advanced order types (bracket orders, cover orders, etc.).
  • Ability to create personalized screen layouts.
• Who It’s For: Intraday traders, technical analysts, and scalpers seeking robust charting and quick order execution.

4.2 Sharekhan App (Mobile Trading)

• Overview: A user-friendly mobile application for Android and iOS that caters to investors and less frequent traders.
• Features:
  • Live market watch, order placement for equity, derivatives, currency, mutual funds.
  • Portfolio tracking, P&L updates, transaction history.
  • Basic charts, market news, research calls, price alerts.
  • Secure login (PIN, fingerprint/Face ID).
• Ideal Users: Investors monitoring portfolios on the go, occasional intraday trades, or quick order placements.

4.3 Sharekhan Website (Web-Based Platform)

• Overview: A browser-based trading portal accessible via any standard browser.
• Features:
  • Real-time quotes, order placement, portfolio overview.
  • Charting and research integrated (though might be less extensive than Trade Tiger).
  • Convenient for users who don’t want to install software.
• Who It’s For: Investors and traders who prefer cross-device access without software installation.

4.4 Specialized Tools

• Pattern Finder / Heat Maps: Sometimes integrated into the advanced platforms or research sections to help identify chart patterns, top gainers/losers, sector performance, etc.
• Algo / API: While Sharekhan does not widely advertise API-based algorithmic trading for retail, advanced traders might explore third-party tie-ups or check if Sharekhan’s high-tier solutions allow limited algo integration.

5. Research & Advisory

As a full-service brokerage, Sharekhan is known for its strong in-house research desk and wealth management advisory:

1. Equity Research
   • Daily / Weekly Reports: Market outlook, sector snapshots, recommended stocks, technical pointers, corporate news.
   • Fundamental Reports: In-depth coverage of major listed companies, quarterly results analysis, target price, and rating (Buy, Hold, Sell).
   • Technical Research: Charts-based calls, pivot levels, recommended entry/exit points, short-term momentum picks.
2. Wealth & Investment Advisory
   • Portfolio Management Services (PMS): For HNI clients seeking discretionary or non-discretionary portfolio services, typically with large capital thresholds.
   • Financial Planning: Guidance on asset allocation across equities, mutual funds, insurance, fixed income, and other instruments.
   • Model Portfolios: Curated basket of stocks or mutual funds aligned with an investment theme or risk level.
3. Mutual Fund Recommendations
   • Sharekhan provides research-based mutual fund suggestions, along with top performing funds in equity, debt, or hybrid categories.
   • Systematic Investment Plan (SIP) facility available for regular investing.
4. Market Insights & Tools
   • Eagle Eye: Sometimes referenced as a daily brief covering key global and Indian market events, macroeconomic data, and upcoming corporate actions.
   • ValueLine: A periodic publication focusing on fundamental analysis of select stocks.
   • Trading Calls / Thematic Reports: Specific event-driven or thematic calls (e.g., budget picks, monsoon picks, etc.).

Overall, the research ecosystem is fairly robust, supporting both short-term traders with daily tips and long-term investors with fundamental insights.

6. Products & Services

6.1 Equities & Derivatives

• Equity Delivery: Buy stocks for delivery into demat.
• Intraday Trading: Margin-based, squares off by end-of-day.
• Futures & Options: Index futures and options (Nifty, Bank Nifty) and stock F&O contracts. Leverage varies per contract and regulatory rules.

6.2 Currency Derivatives

• Currency Futures & Options: USD/INR, EUR/INR, GBP/INR, JPY/INR, etc.
• Trading times: 9 AM to 5 PM (Monday to Friday).
• Lower brokerage and margin requirements relative to equities, suitable for hedging or speculation on currency movements.

6.3 Commodities

• MCX: Precious metals (Gold, Silver), base metals (Copper, Aluminum), energy (Crude Oil, Natural Gas), and some agricultural commodities.
• Trading hours typically from morning to late night (till 11:30 PM or 11:55 PM depending on daylight savings).

6.4 Mutual Funds

• Mutual Fund Investments: Lump sum or SIP.
• Online Platform: Invest or redeem directly from the Sharekhan app or website.
• No Additional Brokerage: Mutual fund transactions typically commission-based from the AMC, though Sharekhan might pass on zero or minimal transaction fees to the client for direct plans.

6.5 IPOs, Bonds & NCDs

• IPO Application: Online facility to apply for initial public offerings, track allotment status.
• Bonds/NCDs: Subscribe to corporate bonds, government bonds, non-convertible debentures when offered.

6.6 Portfolio Management Services (PMS)

• Discretionary PMS: High-ticket customized portfolio management by Sharekhan’s advisory team.
• Eligibility: Usually for clients with investable surplus (often INR 25L, 50L, or 1Cr depending on the plan).

6.7 Insurance & Loans (Tie-ups)

• Insurance: Tie-ups with insurers for life, health, general insurance.
• Loan Assistance: Some branches facilitate loan against shares or margin funding, personal loans, or home loans through partner banks/NBFCs.

7. Customer Support & Branch Network

Branch & Franchise Model

• Sharekhan’s offline presence is one of its strongest suits. Clients in tier-II or tier-III cities can walk into a local branch for opening accounts, clarifications, or to place orders via relationship managers.
• Over 2,800+ business partners (franchise/sub-brokers) across India.

Customer Service Channels

• Phone (Toll-Free): Call & trade, general queries, or help with account issues.
• Email Support: For non-urgent queries or escalations.
• Live Chat: Sometimes available during trading hours on the website.
• RM (Relationship Manager): Assigned for higher-value customers or those who prefer offline contact.

Response & Service Quality

• Historically, Sharekhan has maintained decent ratings for customer support.
• Service quality can vary across branches. Some smaller franchises may have limited staff, while corporate branches in major cities often have specialized teams.

8. Margin & Leverage

Regulatory Changes

• SEBI has implemented standardized peak margin regulations, reducing the previously high intraday leverages.
• As a result, brokers like Sharekhan must comply with maximum leverage limits.

Typical Margin

• Intraday Equity: Up to 5x or so on select liquid stocks (subject to Var+ELM margin requirements).
• Futures & Options: SPAN + Exposure margin mandated by the exchange. Typically no additional leverages beyond regulatory norms.
• Delivery Trades: Requires full payment or margin funding where available, but interest charges apply on margin funding.

9. Educational Resources

Sharekhan invests in investor education through various initiatives:

1. Online Tutorials & Videos: Covering basics of stock market, derivatives strategies, mutual fund investing.
2. Workshops & Seminars: Periodic classroom sessions in major cities or branches for new investors.
3. Investor Camps (Sharekhan Classroom): Offline events featuring demos on Trade Tiger, introduction to technical & fundamental analysis.
4. Newsletters & Blogs: Market commentary, investment strategies, how-to guides on saving taxes, capital gains, and more.

These resources support novices in understanding markets and broadening their trading or investment skill set.

10. Pros & Cons

10.1 Advantages

1. Robust Platforms: Trade Tiger is a feature-rich desktop application for active traders, while the mobile and web platforms cater well to casual investors.
2. Full-Service Research: Comprehensive research and advisory from an established in-house team.
3. Wide Product Suite: Equities, F&O, currency, commodities, mutual funds, IPOs, bonds, PMS, and more under one umbrella.
4. Extensive Branch Network: Pan-India offline presence for personalized relationship-based services and customer support.
5. Banking Parent (BNP Paribas): Ensures financial stability, global best practices, and potential for integrated wealth solutions.
6. Investor Education: Good range of seminars, webinars, tutorials for skill development.

10.2 Disadvantages

1. Higher Brokerage: Compared to discount brokers or competitive online players, Sharekhan’s percentage-based commission can be costly for frequent intraday or high-volume traders.
2. AMC Charges: Annual Maintenance Fees for the Demat account can feel steep relative to some brokers offering zero AMC.
3. No Flat-Fee Options: Lacks the typical “per-trade” flat brokerage model that discount brokers popularize (e.g., INR 15 or 20 per trade).
4. Complex Brokerage Plans: The standard plan can be pricey, and negotiated plans are not always transparent without direct contact.
5. Limited Algo Trading: Less emphasis on direct APIs or algo-trading frameworks compared to specialized discount brokers.

11. Who Should Choose Sharekhan?

1. Long-Term Investors & Casual Traders: Those who value comprehensive research, a user-friendly approach, and offline support.
2. Beginners Seeking Guidance: The wealth of educational resources, branch support, and relationship managers can help novices navigate the stock market.
3. Full-Service Clients: Investors preferring a single broker for equity, derivatives, MF, IPO, and portfolio management can find Sharekhan’s integrated offerings convenient.
4. Traders Wanting a Strong Terminal: Trade Tiger’s advanced features, charting tools, and reliability are appealing for those who actively trade.

Those purely seeking the lowest transaction costs or specialized algorithmic frameworks might lean toward discount brokers. However, many find Sharekhan’s added services and advisory justify the cost.

12. Final Verdict

Sharekhan has maintained its reputation as one of India’s largest and most trusted full-service brokerages for over two decades. Its suite of products—ranging from basic equities to advanced PMS solutions—combined with robust research, established offline networks, and technology platforms like Trade Tiger and the Sharekhan mobile app, cater well to a broad spectrum of retail participants.

However, you should carefully consider the brokerage fees relative to your trading or investment style. Frequent intraday traders handling large volumes might see higher costs unless they negotiate or opt for specialized plans. For individuals who emphasize professional research, easy offline accessibility, and prefer a relationship-based full-service model (rather than purely self-directed discount trading), Sharekhan remains a strong contender.

Quick Summary:

• Founded: 2000, part of BNP Paribas since 2016
• Regulated By: SEBI, with membership in NSE, BSE, MCX, etc.
• Key Platforms: Trade Tiger (desktop), Sharekhan Mobile App, Web portal
• Brokerage: Percentage-based; e.g., 0.5% delivery, 0.1% intraday, or per-lot for F&O
• Research & Advisory: Robust, covering equities, derivatives, mutual funds
• Ideal Clients: Long-term investors, beginners seeking guidance, mid-level traders wanting a strong research partner and offline support

If you prioritize holistic brokerage services and do not mind paying somewhat higher fees than discount brokers, Sharekhan can be an excellent partner for your equity investing, derivatives trading, or wealth-building journey in India’s capital markets. As with any broker, conduct due diligence—review the latest fees, read client feedback, and possibly begin with a small account or a demo to evaluate the platform’s fit for your specific trading approach and financial goals.