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Sharekhan Review 2024

Written by
Gyula L.
Fact checked by
Adam N.
Updated
4d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
894 people chose this broker
Not available in United States; see best alternatives

Why choose Sharekhan

Sharekhan is one of the first brokers to offer online trading in India and is regulated by the SEBI.

Sharekhan's mobile trading platform is user-friendly and well-equipped. The company offers some solid research to assist your trading decisions, while its customer support team gives quick and useful answers. It is a good choice for beginner investors.

On the other hand, Sharekhan gives you access only to Indian markets. Also, its stock and forex fees, while not excessive, are not very competitive on this market. Among other negatives, you can use only bank transfer for deposit and withdrawal.

BrokerChooser gave Sharekhan a 3.3/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Great mobile trading platform
  • Strong research
  • Reliable customer service
Overall score
3.3/5
Minimum deposit
$0
Stock fee
High
Inactivity fee
no
Account opening
1-3 days

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Sharekhan

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 0.7/5
Sharekhan charges no withdrawal fee or inactivity fee, but its stock and forex trading fees are not very competitive, and an account fee kicks in starting your second year.
  • Low non-trading fees
  • No withdrawal fee

We compared Sharekhan's fees with two similar brokers we selected, Zerodha and Interactive Brokers. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Sharekhan alternatives.

Sharekhan trading fees may not appear particularly high in a global comparison, but they're significantly higher than the fees charged by the company's closest competitors on the Indian market.
In another negative, the fee structure is not transparent at all. In what is a quite unusual practice among brokers, Sharekhan's website contains no official information about fees. It is possible to get this information only by contacting the customer support team, or by actually opening an account, after which you will receive some documents about pricing.

Indian stock fees and FX fees

We compared the fees for equity delivery trading in the case of Reliance, and currency futures trading in the case of USDINR. In our review, a typical trade means buying a position, holding it for one week, and then selling it. For the volume, we chose a $2,000 position for our stock trade, and $20,000 for the USDINR transaction.
This catch-all benchmark includes spreads, commissions and financing costs for all brokers.
According to this comparison, Sharekhan has relatively high stock fees and currency futures fees, especially when matched against Zerodha's commission-free Indian stock offer.

Sharekhan fees benchmarked
SharekhanZerodhaInteractive Brokers
Indian stock$4.00$0.0$0.20
USDINR benchmark fee$4.0$0.5-

No inactivity fee, no withdrawal fee

There is no inactivity fee or withdrawal fee. However, from the second year onward, you will be charged a maintenance fee of INR 400.
Sharekhan doesn’t charge any fees for Depository Participant (DP) transactions. The transfer of shares to and from a DP account is free.

Broker
Inactivity fee
Withdrawal fee
Sharekhan
$0
Zerodha
$0
Interactive Brokers
$0
Sharekhan inactivity, withdrawal and other fees

Safety

Sharekhan is regulated by the SEBI and is one of the oldest online stockbrokers in India. It is a subsidiary of BNP Paribas, which has a banking background and is publicly listed.
  • Majority of clients belong to a top-tier financial authority
  • Banking background
  • Parent company listed on stock exchange
Read more

Deposit and withdrawal

Score: 2/5
Deposit and withdrawal at Sharekhan are free, but they're also somewhat limited, as there is only one base currency, and you can only use bank transfer.
  • Free withdrawal
  • No deposit fee
Read more

Account opening

Score: 4.4/5
Account opening is fully digital and there is no minimum account balance. On the negative side, only Indian residents and non-resident Indians can open an account.
  • Fully digital
  • No minimum deposit
  • User-friendly
Read more

Mobile app

Score: 5/5
Sharekhan's mobile trading platform has the same clean look and user-friendly handling, and offers most of the same functionalities as the web trading platform.
  • User-friendly
  • Two-step (safer) login
  • Modern design
Read more

Desktop platform

Score: 3.3/5
Sharekhan's desktop trading platform offers great customizability, many order types and convenient search, but it's not well-designed, and lacks two-step login or a fee report.
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Good search function
Read more

Product selection

Score: 1.9/5
At Sharekhan, you can trade almost all asset classes, except CFDs and cryptos. On the negative side, only Indian markets are available.
Read more
“I recommend Sharekhan for traders and investors focusing on the Indian market.”

FAQ

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Author of this review

Gyula Lencsés, CFA
Gyula Lencsés, CFA

Gyula is a former analyst expert and Head of Content at BrokerChooser. With over a decade in finance, he led content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. He opened real-money accounts, executed transactions, and engaged with customer services, offering firsthand assessments. Prior to BrokerChooser, he managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. His goal: simplify the hunt for top brokers in a dynamic investment landscape.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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