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Sharekhan account opening

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Getting started with Sharekhan

Are you a new investor considering opening a brokerage account at Sharekhan but don't know how to do it? Are you wondering how long the process takes and how difficult it is?

Opening a brokerage account can seem daunting, but we'll show you it's often easier than you think. Account opening at Sharekhan is in fact a great experience that needs no prior knowledge.

Opening an account at Sharekhan is easy and intuitive
András
András Régely
Investments • Stock Market • Market Analysis

Together with my brokerage analyst colleagues, I have thoroughly tested the services of Sharekhan by opening a real-money account. Here’s what you need to know about account opening if you want to start investing with Sharekhan:

  • Account opening at Sharekhan is fully online and takes 1-3 days.

  • You will need to prove your identity and residency with documents.

  • Choose an account type that suits your needs.

  • The only available base currency is INR.

  • The minimum deposit at Sharekhan is $0.

  • Browse the best brokers for beginners for some great alternatives.

Before we start, let's check if Sharekhan is available in your country:

No, you can't open an account at Sharekhan if you live in the United States!
the United States
BrokerChooser score
3.3 3.3 /5
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Account opening at Sharekhan vs other competitors

Account opening at Sharekhan is fully online, meaning you can do it from the comfort of your chair. In fact, you don't even need a chair: you can simply do it on the go on your mobile phone.

See how we rated the account opening experience and how long it takes to get started at Sharekhan compared with its main competitors:

Sharekhan account opening vs similar brokers
Account opening score
4.4 stars 1.3 stars 3.1 stars
Account opening fully online
Yes No Yes
Time to open account
1-3 days >3 days 1-3 days

Opening an account is always free of charge, but the time it takes differs from broker to broker. At some brokers, it's as quick as signing up for a new Gmail account. At others, it might take a couple of days as they run a background check on your data. At Sharekhan, it usually takes 1-3 days to have your account up and running.

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Navigating the complexities of trading can be challenging. If you're a new investor, you'll need a broker with a user-friendly trading interface and robust educational materials. So where to find such brokers? Start with our toplist of brokers we rated as good for beginners.

How to get a verified trading account at Sharekhan?

First, you need to go to Sharekhan's website and fill a registration form to apply for an account. It takes the broker a bit of time to review and verify your application - usually 1-3 days - after which you can make your first deposit and start trading.

The journey at Sharekhan

Opening a brokerage account is not unlike opening a bank account. As you go through the steps, you’ll find that it is a simple and familiar process. Once your brokerage account is set up, you’ll find that the experience is similar to what you get with a bank account that you use for savings and transactions. See, it’s just another way of managing your money!

The sign-up procedure is usually self-evident; just follow the instructions carefully. Here's what awaits you at Sharekhan:

The account opening process is quite simple and efficient, and took two days in total. The process is as follows:

  1. Enter your name, phone number and email address on an online registration form.
  2. Next, you get a call or an email from a customer service agent, specifying the documents needed to open a trading account.
  3. The final step is verification, where you have to upload the required documents.

You have to upload the following documents (all documents should be self-attested):

  • A copy of your PAN card
  • Proof of residence - a copy of your aadhaar card, ration card, passport, driver's license, or a bank statement from the past 2 months
  • Savings account details - cheque leaf with name printed on it; or 2 copies of passbook first page and latest transaction entry; or latest bank statement
  • A recent passport-sized photograph - 2 copies

If you want to trade futures or options, you need to go through another registration process, which also involves uploading any of the following documents:

  • Acknowledged copy of Income Tax Return (ITR)
  • Bank statements for the last 6 months
  • Latest salary slip
  • Copy of Form 16 for salaried individuals
  • Net worth certificate, duly certified by a chartered accountant
Account opening at Sharekhan

The following steps are typical toward the end of the application process or after verifying your identity:

  1. You'll have to fill out a trading experience survey. It might seem scary at first, but it is nothing to worry about. This is standard procedure, as brokers need to make sure that you have some basic financial knowledge and are aware of the risks of trading.

  2. Next, you'll have to choose an account type and a base currency.

  3. As a final step, you'll need to fund your account before you can start trading.

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Which Sharekhan account to choose?

Brokers usually provide multiple account types. When choosing an account, consider how experienced you are in trading, and pick an account that suits your needs. Some factors to take into account: your investment goals, risk tolerance, trading frequency, and any associated fees or account balance minimums.

If you're a beginner, we recommend selecting the most basic account offered by the broker, which is the standard account.

Find out more about Sharekhan's specific account types in our comprehensive Sharekhan review for 2024.

Which base currency should you choose?

At Sharekhan, the only available currency is INR. If possible, try to deposit money to your brokerage account in INR.

Why is all this important? If you fund your trading account in the same currency as your bank account, you won't have to pay a conversion fee. Conversion fees apply if:

  • You make a deposit in a different currency than the currency of your brokerage account.

  • You trade assets denominated in a different currency than your brokerage account's base currency.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.

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BrokerChooser score
3.3 3.3 /5
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Fund your account and start trading at Sharekhan

Once you have filled out the registration form, uploaded your documents, finished the trading survey and selected your account type and base currency, Sharekhan will verify your account shortly. After successful verification, you need to fund your account to be able to begin trading.

This is where you are in the account opening process at Sharekhan
  • Choose your funding method.

  • Enter the amount to be deposited and other necessary details for the transaction.

  • Double-check if payment details are correct.

  • If all looks OK, click to submit your deposit request.

At Sharekhan, the minimum deposit is $0. This means that you can deposit as little money as you wish.

Brokers that don't require a minimum deposit do so to encourage people to try their services without requiring a large initial commitment. Many brokers no longer require a minimum deposit nowadays; so if you want to compare Sharekhan and its rivals along other criteria, you can do so using our broker comparison tool.

At Sharekhan, the only available option to deposit money to your account is via bank transfer.

Broker
Minimum deposit
Bank transfer
Sharekhan
$0
Zerodha
$0
Interactive Brokers
$0
Deposit requirement and funding methods

After successfully funding your account, you're all set to start trading.

To explore Sharekhan’s top competitors, head over to our top list of the best brokers for beginners, whose low fees and user-friendly features benefit new investors like you.

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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.

András Régely
Author of this article
As a Broker Analyst at BrokerChooser, I'm dedicated to providing data-driven insights that simplify the world of investments. With a solid academic background, including an MSc in Accounting and Finance from LSE, I bring a deep understanding of financial markets to my role. My mission is to assist retail investors in finding the perfect broker fit by leveraging my trading experience and analytical skills. At BrokerChooser, I merge my passion for trading with a keen eye for market trends, helping clients navigate online brokers confidently and effectively.
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