Sharekhan App Review: Know Everything In Detail

Sharekhan is among 100’s of stockbrokers that offer trading and investment services to retail investors in India and each of these brokers has something good about them. They produce and service a suitable service for a certain type of investor. The Sharekhan app is good for customers like beginners, active traders, and aged traders. In this blog we are going to tell you Sharekhan App Review, so read this full blog to get the complete information.

1. About Sharekhan app

Sharekhan is the third largest and one of the most popular traditional stock brokers in India. It is also known as a brick-and-mortar brokerage firm. Its main business is retail share broking in equity, commodity, and currency segments with a small presence in portfolio management services, arbitrage trading, and the distribution of mutual funds products.

ShareMobile is a mobile trading app from Sharekhan which offers trade anytime, anywhere, and in any segment, and this app is well designed which offers trading at BSE, NSE, MCX, and NCDEX. It offers its customers trade-in equity, Equity F&O, Currency F&O, and commodities. This mobile app is available for free of charge to all its online customers. The app is available for Android and iOS smartphone devices.

Related Post : BEST APPS FOR TRADING

2. Key facts about Sharekhan app

The following are the key facts about the Sharekhan app:

1. You can do online trading on mobile devices like smartphones, tablets, and iPads.

2. It offers an order book to track orders.

3. You can view Demat account holdings.

4. It offers online fund transfers.

5. It offers live streaming quotes & charts.

6. It offers live reports.

7. It offers live market info and market watch.

8. It offers live market news & alerts.

9. It has Intraday tick by tick charts.

10. It offers a manager account or profile.

3. Features of Sharekhan app

Sharekhan app offers many features to its investors and traders. Some of the features of Sharekhan app are mentioned below:

1. For Investors

• They can invest in stocks, commodities, mutual funds, ETF, bonds, and IPO.
• It gives access to the Sharekhan classroom which is free of cost.
• It is a single app to invest and monitor a range of investments.
• It offers easy online mutual fund investment.
• It offers easy online regular and Flexi SIP.
• You can purchase or redeem Mutual Funds based on NAV just like stocks.
• It offers free research and recommendations.
• It gives MF recommendations like ‘SIP We Like’ and ‘Funds We Like’.
• It gives access to NEO which is a goal-based investment tool.

2. For Traders

• It is one app to trade in equity, commodity, and currency.
• It offers advanced charts and measurement tools.
• It offers a dashboard for a comprehensive view of market happenings.
• It has real-time stats of stocks, futures, and options.
• It supports normal order, sells against margin (SAM), big trade, big trade plus, bracket orders (BO).
• It gives access to pattern finders for new trading ideas every day.

4. How to use: Ways to use Sharekhan app

Sharekhan app is a free mobile trading app that allows you to trade online across equities and derivatives and also allows its customers to invest in mutual funds, bonds, ETF, and IPO. The following are the simple steps to use the Sharekhan app:

• Firstly, install the Sharekhan mobile app on your phone.
• Log in to the app with the credentials provided.
• Go to the watchlist tab
• Add stock of your interest
• Click the buy or sell button to place the order
• At last, go to the portfolio tab to check your Investments.

5. How to withdraw funds: Steps to withdraw funds

To withdraw money from Sharekhan, you need to follow the steps mentioned below:

• Firstly login to your account
• Select withdrawal or withdraw funds from the appropriate menu
• Select the withdrawal method or the account to withdraw to if more than one option is available
• Enter the amount which you want to withdraw and if prompted, a short reason or description
• Submit your request

You may only withdraw money to accounts that are in your name.

6. How to transfer money to the Sharekhan app?

The customers of the Sharekhan app can transfer money from a bank account to a trading account in two ways:

1. From online fund transfer using its website or mobile app

2. From offline fund transfer by giving a cheque at the Sharekhan branch office

3. The following are the simple steps to transfer funds to your Sharekhan account:

• 4. Firstly visit the sharekhan.com website login to your Sharekhan mobile app
• 5. Login to your account
• 6. Click on the accounts tab on the top menu
• 7. Fill information under the transfer fund tab
• 8. Click on move cash button
• 9. You will be taken to your Bank’s website
• 10. Login to the net banking app and complete the transaction
• 11. You will be redirected to the Sharekhan website where the payment success message will appear.

7. How to buy an IPO in the Sharekhan app?

Sharekhan app offers an online IPO application by using UPI as a payment gateway. So the customers can apply in any IPO using its website or mobile app. This app does not charge any fees for applying for an IPO. The following are the few simple steps to apply for IPO in Sharekhan:

• Firstly login to Sharekhan app Or Sharekhan website
• Click on the three-line menu next to the overview on the top
• Click on IPO under the equity section
• Select the IPO which you want to apply from the list and click on it
• Enter your quantity, price, and UPI ID
• Check the terms and condition box and click submit
• Recheck and confirm the order
• Accept the UPI mandate using net banking or BHIM app

8. How to cancel a Demat account in Sharekhan?

Both the Sharekhan trading and Demat account cannot be closed online. So you have to fill a physical form and submit it to the branch office to close the account. You will find the account closure form on all Sharekhan branch offices. You can also contact customer support to check the availability of the form in your location so that you can take the form, fill it and close your account.

9. What are the charges to transfer funds to?

The charges to transfer funds in the Sharekhan app are nil. You may have heard that adding and withdrawing funds to and from a SharekhanDemat account is free. However, it charges a maintenance fee of Rs 400 by the broker from your second year but rather than this all DP transfers and share transfers are free of cost.

10. Pros and Cons of Sharekhan app

The following are some of the advantages of the Sharekhan app:

• It offers different trading platforms to suit customers’ requirements.
• It offers different brokerage slabs to suit individual customers as the higher your trade your brokerage gets reduced.
• It offers online and classroom training, seminars, and workshops to investors.
• Sharekhan app does not charge for online funds transfer from a bank account and funds payout to a bank account.
• It does not charge for DP transactions as share transfer from and to the DP account is free.
• It offers a free call and trade facility.
• It allows fixed deposits as Collateral for future and option trading.

The following are some of the disadvantages of the Sharekhan app:

• It doesn’t offer 3 in 1 account as they don’t provide banking services.
• The brokerage charges are% based which are higher in comparison to flat-free brokers.
• Classic account holders cannot trade commodities.
• They charge a minimum brokerage of 10 paise per stock and would not let you trade stocks below Rs 20.

FAQs

1. Is Sharekhan a discount broker app?

Ans. No, Sharekhan is not a discount broker. It is a full-service broker that provides a wide range of services including retail trading,  investment, mutual funds, Portfolio Management Services, research and investor education, etc. It is a member of BSE, NSE, MCX, CDSL, and NSDL.

2. Should you choose Sharekhan as your brokerage company?

Ans. Sharekhan is good for trading for the following types of investors :

Traders who trade in high volume because the brokerage charge for high volume trading is less.

It is good for new traders as it offers good online training on investments and trading. It has partnered with California Based online training academy which provides well-designed trading courses.

Aged traders who are not tech-savvy as it has a free dial and trade facility service wherein you can place orders on the telephone.

3. When Sharekhan started?

Ans. Sharekhan started stockbroking operations in 2000. The company was bought by European bank BNP Paribas in 2016. It has its registered office in Mumbai with 3200 branches and franchise offices in more than 634 cities across India.

4. Is Sharekhan a listed company or not?

Ans. No, Sharekhan is not a listed company as the company started as a private limited company in 2000. In November 2016, BNP Paribas, a leading bank in Europe bought this company. Today, the company runs as a wholly-owned subsidiary of BNP Paribas. BNP Paribas is listed in Euronext Paris, France security markets. But it is not listed at BSE or NSE in India. In last, I hope this blog sufficient enough to provide the complete information about Sharekhan App Review.