Overview of Sharekhan fees and charges
When it comes to brokerage fees Sharekhan shows a mixed picture: some fees are high but some are low. First you need to figure out your approach or you should use our questionnaire to be able to tell whether Sharekhan fees are an advantage for you. Continue reading about Sharekhan fees and charges to see if this is the right brokerage for you or a similar broker like Zerodha or Interactive Brokers is better for you.
Here's a high level overview of Sharekhan's fees
|Assets||Fee level||Fee terms|
|US stock fee||-||Not available|
|EURUSD fee||-||Not available|
|US tech fund fee||-||Not available|
|Inactivity fee||Low||No inactivity fee|
Sharekhan fees explained
Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that online brokerages' businesses can be much better scaled: From a purely technical standpoint it doesn't make that much of a difference for them if they have 100 or 5000 clients.
This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:
- Trading fees - these are brokerage fees that you pay when you actually do a trade, i.e. buying an Apple stock or an ETF. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
- A commission is either based on the traded volume or it is fixed.
- A spread is the difference between the buy price and the sell price
- Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
- Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.
We compare Sharekhan fees with its closest competitors, Zerodha and Interactive Brokers.
Sharekhan trading fees
We see Sharekhan's trading fees to be high because they charge more than most of its competitors.
Let's break down the trading fees into the different asset classes available at Sharekhan.
Sharekhan's trading fees are average.
Stock fees and ETF fees
Sharekhan has average stock trading fees.
Sharekhan's forex fees are high.
|EURUSD benchmark fee||-||-||$7.4|
|EURGBP benchmark fee||-||-||$10.7|
Sharekhan fund fees are .
|EU mutual fund||-||-||$4.4|
Sharekhan has bond fees.
|US Treasury bond||-||-||$5.0|
|EU government bond||-||-||$10.0|
Sharekhan's options fees are .
|US stock index options||-||-||$6.5|
|UK stock index options||-||-||$22.1|
|German stock index options||-||-||$13.2|
Sharekhan's futures fees are .
|US micro e-mini stock index futures||-||-||$2.5|
|UK stock index futures||-||-||$22.1|
|German e-mini stock index futures||-||-||$9.6|
Sharekhan financing rates are .
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
|Apple CFD financing rate||-||-||1.6%|
|Vodafone CFD financing rate||-||-||1.4%|
|EURUSD financing rate||-||-||0.8%|
|EURGBP financing rate||-||-||1.6%|
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Sharekhan non-trading fees
When it comes to looking at all the non-trading fees Sharekhan is a cheap broker. This means that they don't charge you a lot for non-trading related activities on your trading account, like withdrawal fee.
Non-trading fees include various brokerage fees and charges at Sharekhan that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
Sharekhan deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Sharekhan is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Sharekhan offers.
Sharekhan withdrawal fee
Unlike the majority of the online brokers we have reviewed Sharekhan does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
|Withdrawal fee with bank transfer||$0||$0||$0|
Sharekhan inactivity fee
Sharekhan does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).