Sharekhan Company

Sharekhan Forex Broker - Comprehensive Information Guide

1. Broker Overview

Sharekhan, founded in 2000, is one of India's leading full-service brokerage firms. Headquartered in Mumbai, India, the company operates as a private entity and has established itself as a prominent player in the financial services sector. With a robust presence across over 600 cities and more than 2,800 branches and franchisees, Sharekhan caters to a diverse clientele that includes individual investors, traders, corporations, institutions, and non-resident Indians (NRIs).

Since its inception, Sharekhan has experienced significant growth and has been recognized for its pioneering efforts in introducing online trading to the Indian market. The company was acquired by BNP Paribas in 2016, further enhancing its capabilities and expanding its service offerings. Sharekhan operates primarily in the retail brokerage space, providing services in equities, derivatives, commodities, mutual funds, and initial public offerings (IPOs).

As a full-service broker, Sharekhan combines technology-driven solutions with traditional relationship-based services, making it an attractive choice for traders and investors looking for comprehensive support in their trading endeavors. This unique business model allows clients to access a wide range of financial products while benefiting from personalized advisory services.

2. Regulatory and Compliance Information

Sharekhan operates under the strict oversight of several regulatory bodies, ensuring compliance with industry standards and safeguarding investor interests. The primary regulatory authority overseeing Sharekhan is the Securities and Exchange Board of India (SEBI), with the following registration details:

• SEBI Registration Number: INZ000171337

In addition to SEBI, Sharekhan is a member of major stock exchanges including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), enhancing its credibility in the financial market.

Sharekhan also operates as a depository participant with both NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited), allowing clients to hold securities in electronic form. This dual registration provides flexibility and security for investors.

The company adheres to stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, ensuring that all client transactions are conducted in a transparent and secure manner. Client funds are kept in segregated accounts, providing an additional layer of protection in the event of financial difficulties faced by the brokerage.

3. Trading Products and Services

Sharekhan offers an extensive range of trading products tailored to meet the diverse needs of its clients. The available trading instruments include:

• Forex: Sharekhan provides access to a variety of currency pairs, allowing traders to engage in forex trading.
• CFDs: The broker offers contracts for difference across various asset classes including indices, commodities, and stocks, although cryptocurrency trading is not available.
• Equities: Clients can trade shares listed on Indian stock exchanges, benefiting from robust research and analysis provided by Sharekhan's in-house team.
• Futures and Options: Sharekhan allows trading in equity futures and options, enabling clients to hedge their investments or speculate on market movements.
• Mutual Funds and IPOs: The brokerage facilitates investments in mutual funds and provides a seamless process for applying to IPOs.

The frequency of product updates is consistent, with Sharekhan continuously enhancing its offerings based on market demand and client feedback. This commitment to innovation ensures that traders have access to the latest financial instruments and trading opportunities.

4. Trading Platforms and Technology

Sharekhan has invested significantly in technology to provide its clients with efficient and user-friendly trading platforms. The brokerage offers several trading solutions:

• Trade Tiger: This is Sharekhan‘s flagship desktop trading platform, designed for active traders. It features advanced charting tools, real-time market data, and the ability to execute trades quickly. Trade Tiger is known for its reliability and extensive functionality, making it a popular choice among traders.
• Sharekhan Mobile App: Available for both iOS and Android devices, the app allows users to trade on-the-go. It provides features such as live market updates, portfolio tracking, and advanced order placement capabilities.
• Web Trading Platform: Sharekhan’s web-based platform offers a seamless trading experience without the need for software installation. Users can access their accounts, manage portfolios, and execute trades through a user-friendly interface.
• Sharekhan Mini: This platform is specifically designed for users in areas with low internet connectivity, allowing them to trade efficiently even on slower networks.

The broker does not support MetaTrader 4 or 5 but provides its proprietary platforms that cater to a wide range of trading needs. Sharekhan also offers API access for automated trading, although this may be limited compared to other brokers.

5. Account Types and Trading Conditions

Sharekhan provides various account types to accommodate different trading styles and preferences:

• Standard Accounts: These accounts typically have no minimum deposit requirements and offer competitive brokerage rates. For equity delivery trades, Sharekhan charges 0.50% or a minimum of ₹16 per share.
• Advanced Accounts: For high-volume traders, Sharekhan offers prepaid plans that reduce brokerage fees based on the amount deposited in advance.
• Special Accounts: While Sharekhan does not offer Islamic accounts, it provides tailored solutions for institutional clients and high-net-worth individuals (HNWIs).
• Demo Accounts: Although Sharekhan does not provide a traditional demo account, it offers various educational resources and simulated trading environments for new investors to practice.

Leverage options vary, with up to 5x for equity delivery and up to 10x for intraday trading, depending on the asset class. The minimum trading lot sizes and overnight fees are clearly outlined in the account specifications.

6. Fund Management

Sharekhan supports several methods for depositing and withdrawing funds, ensuring convenience for its clients:

• Deposit Methods: The primary method for funding accounts is through bank transfers. Sharekhan does not charge any deposit fees, making it cost-effective for clients.
• Minimum Deposit Requirements: There are no minimum deposit requirements for opening a trading account, which is advantageous for new traders.
• Withdrawal Methods: Withdrawals can also be made via bank transfers, with processing times typically ranging from 1 to 3 business days.
• Fees: Sharekhan does not charge withdrawal fees, although clients should check with their banks regarding potential third-party fees.

The efficient fund management system ensures that traders can quickly access their capital and respond to market opportunities.

7. Customer Support and Educational Resources

Sharekhan places a strong emphasis on customer support and education, providing a range of resources to assist traders:

• Support Channels: Clients can reach customer support via telephone, email, and live chat. Sharekhan also maintains a presence on social media for additional engagement.
• Service Hours: Customer support is available during business hours, with specific response times depending on the channel used.
• Multilingual Support: Sharekhan offers customer service in both English and Hindi, catering to a diverse client base.
• Educational Resources: The brokerage provides various educational resources, including webinars, tutorials, and articles on trading and investing. The Sharekhan Classroom offers structured learning opportunities for both beginners and experienced traders.
• Market Analysis Services: Daily market analysis, news updates, and research reports are available to clients, aiding them in making informed trading decisions.

These resources enhance the trading experience and empower clients to navigate the complexities of the financial markets effectively.

8. Regional Coverage and Restrictions

Sharekhan primarily serves the Indian market, with a significant presence across the country:

• Major Service Markets: The brokerage operates in India, with additional services available in the United Arab Emirates and Oman.
• Branch Distribution: Sharekhan boasts over 2,800 branches and franchise offices, ensuring accessibility for clients in both urban and rural areas.
• Restricted Countries: Sharekhan does not accept clients from certain regions, including the United States and other countries where it lacks regulatory approval.
• Special Restrictions: Specific account types and services may be limited based on the client's residency status, particularly for non-resident Indians (NRIs).

This regional focus allows Sharekhan to tailor its services to meet the unique needs of its clients while maintaining compliance with local regulations.

In conclusion, Sharekhan stands out as a reputable broker in the Indian financial market, offering a comprehensive suite of services and robust support for traders and investors. With its extensive network, advanced trading platforms, and commitment to customer education, Sharekhan is well-positioned to meet the diverse needs of its clientele. Whether you are a beginner or an experienced trader, Sharekhan provides the tools and resources necessary for successful trading in the dynamic world of finance.