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Sharekhan Free Demat Account
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One can hardly escape from hearing its mention among the list of top elite stockbrokers in India, Such is the popularity of Sharekhan. If you wish to get into the trading business you will require a Sharekhan free Demat account.
Boasting a customer base in excess of 2 million, Sharekhan by BNP Paribas is amongst the principal full-service brokers in India.
The company established in the year 2000 was one of the first to offer online trading services in India.
Sharekhan free Demat account allows you access to trade in investment instruments such as Bonds, IPOs, ETFs, Equities, Derivatives F&O, Mutual Funds.
This article talks about every aspect in regard to the Sharekhan free Demat account in detail.
A Demat account allows you to store your securities such as Equity, Bonds, Debentures, etc. in a digital/online form.
Having a Demat account is the prime requisite to begin your trading journey. Sharekhan free Demat account can be opened by 2 methods.
- Online process – The steps in Sharekhan sign up and registration for demat account online are:
- Visit their website and provide your name, contact number in the registration form.
- You will receive a phone call from them.
- All they will need is scanned copies of the mandatory documents such as Pan Card, ID Proof, Address Proof, Bank Details to be precise.
- Offline process – Opening Sharekhan free Demat account offline is a possibility too. Visit a Sharekhan nearby branch and carry the essential documents.
The documents required for opening a free Demat account in Sharekhan. The list of which has been mentioned below.
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- Copy of Pan Card
- 2 recent passport size photographs
- Identity Proof – PAN Card
- Address Proof – a copy of Driving License, copy of Passport, copy of Voter ID, copy of bank passbook, a verified copy of Electricity Bill, a verified copy of Telephone Bill, copy of Ration Card
- Bank Account Proof – a copy of your 6 months bank statement or copy of the first page of bank passbook or copy of the canceled cheque
Also Read: Moneyflix
Quite the fact, with Sharekhan you can open a Demat account for free. However, there are other Demat account charges associated with it. Some of them are:-
- Demat Account Opening Charges – While Sharekhan doesn’t charge a fee for opening a Demat account, it does require payment of ₹425 for opening a Sharekhan trading account.
- Custodian Fees – Sharekhan doesn’t charge its customer’s custodian charges. So, the custodian charges are nil.
- Annual Maintenance Charges (AMC) – Sharekhan AMC charges are ₹400. But, again there’s a silver lining to it. You enjoy exemption paying Demat account annual charges or AMC charges for the first year of opening a free Demat account.
- Dematerialization And Rematerialisation Charges – Sharekhan charges a fee of ₹5 per certificate as Dematerialisation charges, while rematerialization charges will cost you ₹50 per certificate.
- Brokerage Charges – Brokerage charges in Sharekhan depend upon the type of trade. Some of the brokerage rates are as follows :
- Equity Delivery – 0.50%
- Equity Intraday – 0.10%
- Equity Futures – 0.10%
- Equity Options – ₹100 per lot
- Forex Futures – 0.10%
- Forex Options – 2.50% or ₹30 per lot on premium. Depending on which of the two is higher
Sharekhan by BNP Paribas was amongst the first stockbrokers to extend online trading services to its customers. Some of the benefits of Sharekhan free Demat account include :
- Extensive Physical Presence – Sharekhan has around 3200 local branches across 575 cities of the country.
- Call and Trade Facility – Sharekhan offers a call and trade facility free of charge. This can prove beneficial to many investors who trade often.
- Variety of Investment Products – Sharekhan free Demat account allows investors to trade in various investment products with its Sharekhan Products. The list includes commodity trading in addition to Mutual Funds, IPOs, bonds, ETFs, Equities, Derivatives F&O,. Know about Sharekhan Future Margin.
- Brokerage Slabs – Sharekhan has introduced various brokerage slabs that a customer can choose to suit their trading requirements.
- Ease of Access – Sharekhan Demat account holders get the privilege to access their accounts from various platforms. These include web, desktop, web or even choose the call and trade option.
- Education – Sharekhan holds regular seminars, classroom workshops, training sessions to educate their clients. Gaining information is critical to developing skills, temper required to carry out trade.
Also, with them, you reap the benefit of Sharekhan DP ID. - Sharekhan Refer and Earn: With the demat account, you get access to benefit using the referral program of the broker, under which you get the chance to earn an amount and money on each referral you provide to the broker.
There are disadvantages associated with Sharekhan free Demat account are :
- High Brokerage Charges – Sharekhan brokerage rates are higher as compared to other brokerage firms, especially discount brokers who offer appealing lower brokerage rates.
- 3 In 1 Account – Having a 3 in 1 account with Sharekhan is not possible. Though, they do offer a 2-in-1 account (Demat account and Trading account) facility.
- Minimum Brokerage Rates – Sharekhan levies a minimum brokerage charge of 10 paise for every stock traded.
- Commodity Trading – Classic Account holders don’t get to participate in commodity trade.
- App Issues – There are instances where traders complain about Sharekhan not working. This might be because of technical glitches or other software issues. The app failure generally leads to huge losses of traders.
Conclusion
Sharekhan by BNP Paribas is the trusted stockbroker for over 2 million investors. On top of it, Sharekhan earns the right to proclaim themselves as the pioneers of offering online trading services in India.
Sharekhan is an attractive proposition because they conduct regular training, classes, seminars to impart practical knowledge, share their trading wisdom with their customers.
This serves the purpose of assuring beginners of being in safe hands.
Looking at the downside of things, the most prominent factor is their high brokerage rates. The minimum brokerage charge can put off rookie/novice traders, who are hesitant to invest big and wish to begin small.
Willing to open a Sharekhan Free Demat Account? Please refer to the below form, fill the required details and a call back will be arranged for you.
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