Sharekhan Stock Broker Review: A Comprehensive Guide
Overview and General Information
Sharekhan, a subsidiary of BNP Paribas, is a well-established stock broker in India. Founded in 2000 by entrepreneur Shripal Morakhia in Mumbai, Sharekhan has become a prominent player in the financial services industry, offering a wide range of products and services to investors and traders.
Background and History of Sharekhan
- Founded:2000 by Mumbai-based entrepreneur Shripal Morakhia.
- Acquisition:Acquired by BNP Paribas in 2017 and rebranded as Sharekhan by BNP Paribas.
- Current Status:A subsidiary of BNP Paribas since November 2016.
Certifications and Licenses
- SEBI Registration Number:INZ000171337. This registration is a crucial indicator of Sharekhan's compliance with regulatory standards set by the Securities and Exchange Board of India (SEBI).
Products and Services Offered
Sharekhan provides a comprehensive suite of financial products and services designed to cater to diverse investment needs.
Key Products and Services
- Securities Brokerage:Sharekhan offers a wide range of financial products, including securities brokerage, mutual fund distribution, loan against shares, Employee Stock Ownership Plan (ESOP) financing, IPO financing, and wealth management. This comprehensive approach makes Sharekhan a one-stop shop for various investment needs.
- Mutual Funds:Investors can conveniently invest in Mutual Funds through the Sharekhan app, accessing a vast selection of funds from various Asset Management Companies (AMCs).
- Derivatives:Sharekhan enables trading in Derivatives across the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE), giving traders access to a wide range of derivative products.
- Equities:Sharekhan provides access to trading in Equities, allowing investors to buy and sell shares of listed companies on the NSE and BSE.
- Commodities:Sharekhan caters to traders interested in the Commodity market, providing a platform for trading in commodities like gold, silver, crude oil, and more.
Additional and Special Services
- Research Recommendations:Sharekhan provides free research recommendations across mutual funds, long-term investing, and technical analysis for trading, equipping investors with valuable insights to make informed decisions.
- Financial Advisory:Sharekhan offers guidance from experienced Relationship Managers who provide personalized financial advice, helping investors navigate their investment journey.
- Education Modules:Sharekhan offers both zero-cost and paid education modules to customers, enabling them to enhance their knowledge and understanding of the financial markets.
- Mobile Applications:Sharekhan's mobile app provides a seamless and intuitive platform for trading and investing, allowing users to access their accounts and execute trades on the go.
Product Features and Conditions
Sharekhan provides a user-friendly and feature-rich platform for trading and investing, designed to streamline the investment process.
Key Features and Requirements
- Demat Account:Opening a demat account with Sharekhan is a quick and easy process, typically completed within 15 minutes. A demat account is essential for holding and trading shares in electronic form.
- Trading Platforms:Sharekhan offers efficient trading and investment platforms accessible on mobile, web, and desktop, catering to diverse user preferences.
- Order Types:Sharekhan supports various order types including Normal Order, Sell against Margin (SAM), Big Trade, Big Trade Plus, and Bracket orders (BO), providing traders with flexibility in their order execution strategies.
- Research Tools:Sharekhan provides valuable research tools such as PatternFinder, designed to assist traders in making informed trading decisions by identifying and analyzing trading patterns.
Contact Channels and Customer Support
Sharekhan offers multiple channels for customers to reach out for support and inquiries.
Contact Methods
- Phone:Sharekhan provides a dedicated phone line for customer support, enabling prompt assistance.
- Email:Customers can also reach out to Sharekhan through email for inquiries or support.
- Chat:The Sharekhan app offers a live chat feature, providing convenient and immediate support for app-related issues or queries.
- Branch Locations:Sharekhan has a wide network of over 132 branches spread across India, allowing customers to visit a branch for in-person assistance.
- Social Media:Sharekhan maintains an active presence on social media platforms like LinkedIn, Facebook, Twitter, and Instagram, engaging with customers and providing updates.
Service Hours and Support Quality
- Service Hours:Sharekhan's specific customer support service hours are not publicly specified. However, they generally respond promptly to inquiries made through various channels.
- Support Quality:Customer feedback on Sharekhan's support quality is generally positive. However, some users have reported occasional issues such as freezing of the app or minor bugs. Sharekhan has a dedicated team that works to resolve these issues as promptly as possible.
Pros and Cons of Sharekhan
Like any other financial service provider, Sharekhan comes with its own set of advantages and disadvantages. Weighing these factors is crucial before making a decision about whether Sharekhan is the right fit for your investment needs.
Pros
- User-Friendly App:Sharekhan's mobile app is designed with a user-friendly interface, making it easy for both experienced and novice traders to navigate and execute trades.
- Wide Range of Products:Sharekhan offers a broad range of financial products catering to various investment goals, making it a comprehensive platform for different investors.
- Strong Research Support:Sharekhan provides robust research support with actionable insights into various investment instruments, empowering investors to make informed decisions.
- Customer Support:Sharekhan has multiple active customer support channels, ensuring that customers can reach out for assistance when needed.
Cons
- App Issues:While generally well-received, Sharekhan's app has faced occasional issues such as freezing or minor bugs, which can be frustrating for users.
- Limited iPad Support:Currently, Sharekhan does not offer an iPad version of its mobile app, which may be a drawback for users who prefer trading on tablets.
Sharekhan: Summary and Final Thoughts
Sharekhan is a reputable stock broker in India that offers a robust suite of services catering to diverse investor needs. Its user-friendly app, wide range of products, and strong research support make it a compelling option for serious traders and investors.
Who is Sharekhan Best Suited For?
- Best Suited For:Sharekhan is best suited for serious traders and investors who need a full-service brokerage with robust research support and a wide range of financial products.
- Why:Sharekhan offers a comprehensive suite of services designed to help traders and investors achieve their financial goals, including expert research, experienced relationship managers, and a user-friendly trading platform.
Final Thoughts on Sharekhan
- Value:Sharekhan provides significant value through its extensive product offerings, robust research support, and efficient trading platforms. Its commitment to customer service and its reputation for providing a reliable and comprehensive brokerage service further enhances its value proposition.
- Choosing Sharekhan:Sharekhan is best suited for those who are serious about investing and trading, requiring a reliable and comprehensive brokerage service that can meet their evolving needs.
Frequently Asked Questions (FAQs) about Sharekhan
Although specific FAQs were not readily available on the Sharekhan website, this section provides answers to common questions based on general information found in other sections.
What are the main products and services offered by Sharekhan?
Sharekhan offers a comprehensive range of products and services, including securities brokerage, mutual fund distribution, loan against shares, ESOP financing, IPO financing, wealth management, research recommendations, financial advisory, education modules, and a user-friendly mobile app for trading and investing.
What are the key features of Sharekhan's trading platform?
Sharekhan provides efficient trading and investment platforms accessible on mobile, web, and desktop, with support for various order types including Normal Order, SAM, Big Trade, Big Trade Plus, and Bracket orders (BO). Sharekhan also offers research tools like PatternFinder to aid in smart trading decisions.
How can I contact Sharekhan for support?
You can reach Sharekhan customer support through phone, email, live chat on the app, branch locations, and social media platforms like LinkedIn, Facebook, Twitter, and Instagram.
Is Sharekhan a reputable broker?
Yes, Sharekhan is a well-established and reputable stock broker in India. It is a subsidiary of BNP Paribas and is registered with SEBI, indicating its compliance with regulatory standards.
What are the pros and cons of using Sharekhan?
Sharekhan's pros include its user-friendly app, wide range of products, strong research support, and active customer support channels. However, some users have reported occasional issues such as app freezing or minor bugs, and there is no dedicated iPad app.
Who is Sharekhan best suited for?
Sharekhan is best suited for serious traders and investors who need a full-service brokerage with comprehensive services, robust research support, and a user-friendly trading platform.
Key Takeaways
- Sharekhan is a reputable stock broker in India, offering a wide range of products and services for investors and traders.
- It provides robust research support, a user-friendly app, and multiple customer support channels.
- Sharekhan is best suited for those seeking a full-service brokerage with comprehensive services and a focus on research.
- While generally positive, Sharekhan's app has experienced occasional issues and lacks an iPad version.
Disclaimer
This review is for informational purposes only and should not be considered investment advice. The securities market is subject to risks, and investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
