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Our top alternative brokers to Sharekhan
Interactive Brokers
4.9
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Zerodha
4.2
Our top alternative brokers to Sharekhan
Interactive Brokers
4.9
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Zerodha
4.2
Sharekhan Alternatives

The best alternatives to Sharekhan are

  1. Zerodha - India-based discount broker
  2. Interactive Brokers - US discount broker
  3. Saxo Bank - Danish investment bank

Let's see in a bit more detail how the Sharekhan alternatives compare to Sharekhan and each other:

Sharekhan alternatives comparison
Sharekhan Zerodha Interactive Brokers Saxo Bank
Overall score 4.4 4.2 4.9 4.8
Fees score 3.6 stars 4.8 stars 4.0 stars 3.0 stars
Account opening score 4.4 stars 1.8 stars 3.4 stars 2.5 stars
Deposit and withdrawal score 2.5 stars 2.8 stars 3.5 stars 4.8 stars
Web platform score 4.0 stars 3.8 stars 4.3 stars 5.0 stars
Markets and products score 2.0 stars 2.0 stars 5.0 stars 5.0 stars
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Why are these brokers considered good alternatives to Sharekhan? There are many areas based on which Sharekhan can be compared with others. When we say a given online broker is a good alternative to Sharekhan we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Sharekhan alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Sharekhan is recommended for traders and investors focusing on the indian market
  • Zerodha is recommended for traders and investors (including beginners) focusing on the indian market and looking for low fees
  • Interactive Brokers is recommended for traders looking for low fees and a professional trading environment
  • Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research

Important factors of finding Sharekhan alternatives

So far BrokerChooser has reviewed 78 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Sharekhan or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Sharekhan is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Sharekhan alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Sharekhan, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Sharekhan alternative is a must.


Now let's dive into the details of how Sharekhan and its alternatives perform in the most important areas!

Sharekhan alternatives
Sharekhan

Sharekhan was founded in 2000 and it is an India-based stockbroker. Sharekhan is a subsidiary of BNP Paribas which has a banking background and listed on the Euronext Paris Stock Exchange. It is also regulated by the Securities and Exchange Board of India.

Sharekhan is considered safe because its parent company has a banking background with a stock exchange listing, has a long track record, and regulated by a top-tier regulator.

 

Recommended for traders and investors focusing on the indian market

Pros Cons
Low Trading Fees Access to only Indian markets
Great mobile trading platform Only bank transfer
Reliable customer service

Fees
3.6

Sharekhan has low stock and ETF trading fees, no withdrawal and low non-trading fees. Unfortunately, there is an account fee of INR 400 after your second year.
Pros Cons
Low non-trading fees High forex fees
Low stock and ETF fees Account fee of INR 400 after second year
No withdrawal fee
Sharekhan alternatives trading fees
Sharekhan Zerodha Interactive Brokers Saxo Bank
US stock - - $1.0 $10.0
UK stock - - $7.8 $10.4

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

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Account opening
4.4

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.
Pros Cons
Fully digital Only Indian resident and non-resident Indian can open an account
No minimum deposit
User-friendly
Sharekhan alternatives minimum deposit and account open times
Sharekhan Zerodha Interactive Brokers Saxo Bank
Minimum deposit $0 $0 $0 $10,000
Time to open account 1-3 days >3 days 1-3 days >3 days

Learn more about Sharekhan minimum deposit here.

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Deposit and withdrawal
2.5

For the withdrawal and deposits, Sharekhan doesn't charge any fees. However, you can only use bank transfers and there is only one base currency.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Only one account base currency
Sharekhan and alternatives withdrawal options and fees
Sharekhan Zerodha Interactive Brokers Saxo Bank
Bank transfer Yes Yes Yes Yes
Credit/debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0 $0 $0 $0

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Web trading platform
4.0

Web trading platform is user-friendly and looks really simple yet sophisticated. However, it lacks customization and clear fee report.
Pros Cons
User-friendly No clear fee report available
Two-step (safer) login Limited customizability (for charts, workspace)
Good search function
Sharekhan - Web trading platform
Sharekhan and alternatives trading platform scores
Sharekhan Zerodha Interactive Brokers Saxo Bank
Web platform score 4.0 stars 3.8 stars 4.3 stars 5.0 stars
Mobile platform score 5.0 stars 4.3 stars 3.5 stars 5.0 stars
Desktop platform score 3.3 stars - 3.0 stars 5.0 stars

Learn more about Sharekhan's web trading platform in the detailed Sharekhan review.

Markets and products
2.0

At Sharekhan you can trade with almost all asset classes, except bond, CFD, and crypto. On the negative side, it gives access only to Indian markets.
Sharekhan and alternatives markets and products
Sharekhan Zerodha Interactive Brokers Saxo Bank
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Fund Yes Yes Yes Yes
Bond Yes Yes Yes Yes
Options Yes Yes Yes Yes
Futures Yes Yes Yes Yes
CFD No No Yes Yes
Crypto No No Yes Yes

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Verdict

Sharekhan is a decent stock broker in India with a long history.

On the plus side, it has a great mobile trading platform, has low trading fees, and has superb customer service, and offers a lot of research tools.

There are some drawbacks though. The trading fees are non-transparent, you will get access only to Indian markets, and you can use only bank transfer. 

As there is no inactivity fee and if you are prone to pay a bit higher price for wide and great services, feel free to try Sharekhan.

Sharekhan
Summary Sharekhan is one of the first brokers to offer online trading in India and is regulated by the SEBI. It is a privately-held company.
Fees score 3.6 stars
Recommended for Traders and investors focusing on the Indian market

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Sharekhan alternatives
Zerodha

Indian stock brokerage Zerodha was set up in 2010 by entrepreneur and stockbroker Nithin Kamath. His aim was to establish a high-tech trading platform with affordable pricing. Today Zerodha has over 1.5 million active retail clients, accounting for over 15% of India's retail trading volume.

Zerodha is considered safe because it is regulated by India's top-rated regulator, the Securities and Exchange Board of India (SEBI).

Recommended for traders and investors (including beginners) focusing on the indian market and looking for low fees

Pros Cons
Low fees Slow account opening process
Great trading platforms Only Indian market covered
Solid research No investor protection

Fees
4.8

Fees at Zerodha are low. On the other hand, expect to be charged for the account opening and for account maintenance.
Pros Cons
Low trading fees Account opening and maintenance charges
Low non-trading fees
Low stock and ETF fees
Sharekhan vs. Zerodha: Trading fees
Zerodha Sharekhan
Apple benchmark fee - -
Vodafone benchmark fee - -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More

Account opening
1.8

The account opening at Zerodha is far from seamless. The process is slow and not fully digital. As a plus, there is no minimum deposit.
Pros Cons
No minimum deposit Slow
Not fully digital
Only Indian citizens accepted
Sharekhan vs. Zerodha: Minimum deposit, time to open an account
Zerodha Sharekhan
Minimum deposit $0 $0
Time to open account >3 days 1-3 days

If you are interested more in Zerodha minimum deposit, this overview will help you.

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Deposit and withdrawal
2.8

Zerodha's deposit and withdrawal processes are user-friendly and free. However, there is only one account base currency, and you can only use bank transfers for deposits and withdrawals.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Only one account base currency
User-friendly
Sharekhan vs. Zerodha: Withdrawal options
Zerodha Sharekhan
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
3.8

Zerodha's web trading platform has a beautiful, simplistic design, and it's very user-friendly. However, it has limited customizability and there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report Limited customizability (for charts, workspace)
Good search function
Web trading platform of Zerodha, a Sharekhan alternative
Sharekhan vs. Zerodha: Trading platform scores
Zerodha Sharekhan
Web platform score 3.8 stars 4.0 stars
Mobile platform score 4.3 stars 5.0 stars
Desktop platform score - 3.3 stars

Learn more about Zerodha's web trading platform in the detailed Zerodha review.

Markets and products
2.0

Zerodha's product lineup comprises a lot of asset classes, ranging from stocks to futures. However, the portfolio covers only the Indian market.
Sharekhan vs. Zerodha: Markets and products
Zerodha Sharekhan
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD No No
Crypto No No

More

Verdict

Zerodha is an Indian discount broker offering very low fees. Its web and mobile trading platforms are superb, featuring a wide range of research tools.

The broker has some drawbacks though. The account opening process is slow and not entirely online. You can only access Indian markets and clients are not covered by investor protection.

If you are interested in Indian markets, we recommend Zerodha as the fees are low and the broker doesn't charge an inactivity fee.

Zerodha
Summary Zerodha is one of the biggest discount brokers in India. It is regulated by the SEBI.
Fees score 4.8 stars
Recommended for Traders and investors (including beginners) focusing on the Indian market and looking for low fees

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Sharekhan alternatives
Interactive Brokers

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools High inactivity fee

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Fees
4.0

Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
Pros Cons
Low trading fees Inactivity fee
Free stock and ETF trading for US clients
Low margin rates
Sharekhan vs. Interactive Brokers: Trading fees
Interactive Brokers Sharekhan
Apple benchmark fee $2.3 -
Vodafone benchmark fee $16.3 -
EURUSD benchmark fee $11.2 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most account types Confusing messages throughout the process
Sharekhan vs. Interactive Brokers: Minimum deposit, time to open an account
Interactive Brokers Sharekhan
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

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Deposit and withdrawal
3.5

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
First withdrawal each month free
Sharekhan vs. Interactive Brokers: Withdrawal options
Interactive Brokers Sharekhan
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
4.3

Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of Interactive Brokers, a Sharekhan alternative
Sharekhan vs. Interactive Brokers: Trading platform scores
Interactive Brokers Sharekhan
Web platform score 4.3 stars 4.0 stars
Mobile platform score 3.5 stars 5.0 stars
Desktop platform score 3.0 stars 3.3 stars

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

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Markets and products
5.0

Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
Sharekhan vs. Interactive Brokers: Markets and products
Interactive Brokers Sharekhan
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes No
Crypto Yes No

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Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.

On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools

There are some drawbacks, though: there is a high inactivity fee, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.
Fees score 4.0 stars
Recommended for Traders looking for low fees and a professional trading environment

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Sharekhan alternatives
Saxo Bank

Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). 

Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

Pros Cons
Great trading platform High bond, options and futures fees
Outstanding research High minimum deposit
Broad product portfolio Lacks live chat and 24/7 availability

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Fees
3.0

Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
Pros Cons
Low forex fees Inactivity fee
Low fund fees High bond, options and futures fees
No withdrawal fee
Sharekhan vs. Saxo Bank: Trading fees
Saxo Bank Sharekhan
Apple benchmark fee $20.3 -
Vodafone benchmark fee $21.5 -
EURUSD benchmark fee $7.9 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
2.5

Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
Pros Cons
Fully digital Minimum deposit is high in certain countries
User-friendly Slow account verification
Available in almost every country
Sharekhan vs. Saxo Bank: Minimum deposit, time to open an account
Saxo Bank Sharekhan
Minimum deposit $10,000 $0
Time to open account >3 days 1-3 days

If you are interested more in Saxo Bank minimum deposit, this overview will help you.

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Deposit and withdrawal
4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available Electronic wallets not available for deposit or withdrawal
Free withdrawal
No deposit fee
Sharekhan vs. Saxo Bank: Withdrawal options
Saxo Bank Sharekhan
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
5.0

Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Web trading platform of Saxo Bank, a Sharekhan alternative
Sharekhan vs. Saxo Bank: Trading platform scores
Saxo Bank Sharekhan
Web platform score 5.0 stars 4.0 stars
Mobile platform score 5.0 stars 5.0 stars
Desktop platform score 5.0 stars 3.3 stars

Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.

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Markets and products
5.0

Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where the selection could be improved.
Sharekhan vs. Saxo Bank: Markets and products
Saxo Bank Sharekhan
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes No
Crypto Yes No

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Verdict

Saxo Bank is a great broker, providing a complex and good service.

It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA.
Fees score 3.0 stars
Recommended for Investors and traders looking for a great trading platform and solid research

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Sharekhan alternatives
Bottom line

Based on our analysis, there are several good alternatives to Sharekhan. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Sharekhan alternatives
Broker Info Recommended for
Sharekhan India-based stockbroker Traders and investors focusing on the Indian market
Zerodha India-based discount broker Traders and investors (including beginners) focusing on the Indian market and looking for low fees
Interactive Brokers US discount broker Traders looking for low fees and a professional trading environment
Saxo Bank Danish investment bank Investors and traders looking for a great trading platform and solid research

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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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