Reviews of Stock Brokers


Karvy

When it comes to investing in the stock market, choosing the right stockbroker is of utmost importance. It can significantly impact your trading experience, investment returns, and overall satisfaction. In this article, we will provide an in-depth review of Karvy, one of India's prominent Full Service Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.


Overview

Karvy founded in 1983 by C Parthasarathy is a Private company headquartered in Hyderabad, India India. As a Full Service Broker, Karvy aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Karvy operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewKarvy
Broker TypeFull Service Broker
Type of companyPrivate
HeadquarterHyderabad, India
FoundersC Parthasarathy
Foundation Year1983
Supported ExchangesBSE, NSE, MCX
Total branches575

Karvy Account opening charges

To begin trading with Karvy, you need to open a trading account and a Demat account. Karvy charges Free for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.500 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesKarvy
Trading Account Opening ChargesFree
Demat AMC (Annual Maintenance Charges)Rs.500 per Annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyZero to Rs.1 lakh
Offline to Online ChargesNot applicable
DepositoryCDSL

Karvy Brokerage Charges

One of the main factors to consider when choosing a stockbroker is the brokerage charges. Karvy brokerage charges for various segments are as follows:

Equity Brokerage Charges

Equity Brokerage ChargesKarvy
Equity Delivery Brokerage0.1% – 0.3%
Equity Intraday Brokerage0.01% – 0.03%
Equity Futures Brokerage0.01% – 0.03%
Equity Options BrokerageRs.10 – Rs.30 per lot

Currency Brokerage Charges

Currency Brokerage ChargesKarvy
Currency Futures Brokerage0.01% – 0.03%
Currency Options BrokerageRs.10 – Rs.30 per lot

Commodity Brokerage Charges

Commodity Brokerage ChargesKarvy
Commodity Options Brokerage0.01% – 0.03%

Karvy Other Charges

In addition to brokerage charges, there are other charges to consider:

Other Brokerage ChargesKarvy
Minimum Brokerage ChargesPercentage of Transacton
Transaction Brokerage Charges0.00325% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp Duty ChargesAs per the state
GST Charges18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover
Call and Trade ChargesNA

Karvy Equity Leverage

Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Karvy:

Equity LeverageKarvy
Equity DeliveryUpto 10x
Equity IntradayUpto 20x
Equity FuturesUpto 10x
Equity OptionsUpto 15x

Karvy Currency Leverage

Currency LeverageKarvy
Currency FuturesUpto 12x
Currency OptionsUpto 10x

Karvy Commodity Leverage

Equity LeverageKarvy
CommodityUpto 12x

Karvy Offers

Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:

OffersKarvy
Free Stock Trading AccountNo
Free Demat AccountYes
Flexible PlansYes
Brokerage DiscountsNo
Happy HoursNo
1 Month Free PlanNo
Holiday OffersNo
Referral ProgramNo
Zero Brokerage on Loss TradesNo

Karvy Features

FeaturesKarvy
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingYes
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)Yes
Trading InstitutionNo
Trading ExposureUpto 20x
Mutual FundsYes
SIP (Systematic Investment Plan)Yes
Forex TradingNo
BankingNo
InsuranceNo

Karvy Advisory Services

The key distinction between a discount broker and a full-service broker lies in the range of services offered and the rates at which they are provided.

ServicesKarvy
Fundamental ReportsYes
Research ReportsYes
Company ReportsYes
Annual ReportsYes
Company Stock ReviewYes
Free Stock TipsNo
IPO ReportsYes
Top PicksNo
Daily Market ReviewNo
Monthly ReportsYes
Weekly reportsYes
Offline AdvisoryYes
Relationship ManagerYes

Karvy Trading Platforms

The Karvy trading software comprises various trading platforms suitable for the diverse needs of the customers. It is built on IIFL's trading platform. It has been trusted by customers for the past two decades. The trading platform is available in three different forms. Namely: a mobile app, a web browser-based platform, and an installable desktop trading application.


Karvy Trading Platforms

Desktop Trading PlatformsKarvy
WindowsYes
MacYes
Desktop BrowserYes

Karvy Mobile App

The Karvy mobile app allows users to trade on the go and provides access to trading at BSE/NSE and robo advisory services. Customers can download the app for free from either the google app store or the apple app Store. The app is designed to be simple and intuitive, enabling users to buy stocks, trade in stock and currency futures & options, and invest in mutual funds, ETFs, bonds, and more.

Mobile AppKarvy
Mobile BrowserYes
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Karvy Web Trading

For web-based trading, Karvy offers a powerful trading website known as Karvy trader station. This website can be accessed through any web browser on computers, laptops, mobile devices, or tablets. It provides a wide range of trading and investment options within a single domain. The web platform is seamlessly integrated with payment gateways and banks, enabling instant fund transfers.


Karvy Trade Terminal

Karvy offers a trade terminal, which is a downloadable trading terminal specifically developed for active traders seeking advanced trading features. This desktop application offers real-time data and advanced charts for monitoring intraday and historic stock prices. It also offers a variety of keyboard shortcuts to facilitate real-time market monitoring and faster order placement.


Karvy Customer Support

Customer SupportKarvy
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support Branches110

Karvy Complaints

Understanding the number of customer complaints received by a brokerage firm can provide insights into the quality and reliability of their services. The following table shows the information regarding the complaints received by Karvy.

BSE ComplaintsKarvy
BSE Complaints210
BSE Resolved Complaints185
Percentage of resolved BSE complaints88.10%
NSE Complaints165
NSE Resolved Complaints143
Percentage of resolved NSE complaints86.67 %
BSE/NSE Complaint vs. Resolved Percentage87.38 %

Conclusion

In conclusion, Karvy offers a range of trading and investment options through its user-friendly platforms. With competitive pricing and several investment choices, it is one of the best options for investors. However, the lack of comprehensive customer support and the number of customer complaints are areas of concern. Considering all the features and user experience, Karvy can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.