Reviews of Stock Brokers
Share India
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 Share India, one of India's prominent Discount Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.
Overview
Share India founded in 1993 by Sachin Gupta is a Private company headquartered in Uttar Pradesh, India India. As a Discount Broker, Share India aims to provide cost-effective buy/sell orders, enabling investors to save money compared to full-service brokers. However, it is crucial to note that Share India operates as a full-service brokers. It offers extensive investment advice and detailed stock analysis for its clients.
| Overview | Share India |
|---|---|
| Broker Type | Discount Broker |
| Type of company | Private |
| Headquarter | Uttar Pradesh, India |
| Founders | Sachin Gupta |
| Foundation Year | 1993 |
| Supported Exchanges | NSE, BSE, and RSE |
| Total branches | 729 |
Share India Account opening charges
To begin trading with Share India, you need to open a trading account and a Demat account. Share India charges Zero for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.300 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.
| Account Opening and Demat Charges | Share India |
|---|---|
| Trading Account Opening Charges | Zero |
| Demat AMC (Annual Maintenance Charges) | Rs.300 per Annum |
| Trading AMC (Annual Maintenance Charges) | Rs.300 per Annum |
| Margin Money | Rs.10,000 |
| Offline to Online Charges | Rs.100 |
| Depository | CDSL |
Share India Brokerage Charges
One of the main factors to consider when choosing a stockbroker is the brokerage charges. Share India brokerage charges for various segments are as follows:
- Equity delivery: Share India offers free brokerage for equity delivery trades. This means you can buy and hold stocks without incurring any brokerage charges.
- Equity intraday: For equity intraday trades, Share India charges a flat rate of 0.03% per order.
- Equity futures: The brokerage charge for equity futures is also 0.03% per order.
- Equity options: Share India charges Rs.20 per executed order per order for equity options trading.
- Currency: For currency futures and options trading, Share India charges 0.04% per order.
- Commodity: The brokerage charge for commodity trading is 0.04% per order.
Equity Brokerage Charges
| Equity Brokerage Charges | Share India |
|---|---|
| Equity Delivery Brokerage | Zero Brokerage |
| Equity Intraday Brokerage | 0.03% |
| Equity Futures Brokerage | 0.03% |
| Equity Options Brokerage | Rs.20 per executed order |
Currency Brokerage Charges
| Currency Brokerage Charges | Share India |
|---|---|
| Currency Futures Brokerage | 0.04% |
| Currency Options Brokerage | 0.04% |
Commodity Brokerage Charges
| Commodity Brokerage Charges | Share India |
|---|---|
| Commodity Options Brokerage | 0.04% |
Share India Other Charges
In addition to brokerage charges, there are other charges to consider:
- Minimum brokerage charges: Share India imposes a minimum brokerage charge of Rs.10 Per Order.
- Transaction brokerage charges: A customer incurs transaction brokerage charges, which amount to 0.00325% of Total Turnover of the total turnover.
- SEBI turnover charges: Securities and Exchange Board of India (SEBI) levies turnover charges, which are 0.0002% of Total Turnover.
- Stamp duty charges: Stamp duty charges differ based on the state and the specific category of asset.
- GST charges: A GST of 18% of (Brokerage + Transaction Charges) is applied to brokerage and transaction charges.
- STT (Securities transaction tax): Share India charges 0.0126% of Total Turnover of the total turnover as STT.
- Call and trade charges: If you place orders through call and trade, Share India charges Rs.50 per order placed through a dealer at Share India.
| Other Brokerage Charges | Share India |
|---|---|
| Minimum Brokerage Charges | Rs.10 Per Order | Transaction Brokerage Charges | 0.00325% of Total Turnover | SEBI Turnover Charges | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | Call and Trade Charges | Rs.50 per order placed through a dealer at Share India |
Share India Equity Leverage
Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Share India:
| Equity Leverage | Share India |
|---|---|
| Equity Delivery | Upto 5x | Equity Intraday | Upto 3x | Equity Futures | Upto 10x | Equity Options | Upto 10x |
Share India Currency Leverage
| Currency Leverage | Share India |
|---|---|
| Currency Futures | Upto 10x | Currency Options | Upto 10x |
Share India Commodity Leverage
| Equity Leverage | Share India |
|---|---|
| Commodity | Upto 10x |
Share India Offers
Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:
| Offers | Share India |
|---|---|
| Free Stock Trading Account | Yes | Free Demat Account | Yes | Flexible Plans | Yes | Brokerage Discounts | No | Happy Hours | No | 1 Month Free Plan | No | Holiday Offers | No | Referral Program | No | Zero Brokerage on Loss Trades | No |
Share India Features
- Full Service Brokers:
Share India is a leading online stock broker in India that offers discount brokerage services to retail investors. It charges a flat rate of Rs.10 Per Order per order executed, regardless of the trade size, segment, or exchange.
- Range of Investment Products:
Share India is a one-stop shop for various financial investment products. It allows investors to trade in equity, commodity, and currency at BSE, NSE, and MCX. Additionally, it offers investment options in mutual funds, gold, peer-to-peer lending, insurance, and US investments.
- Subscription Plans:
Share India provides three subscription plans: Basic pack, power investor pack, and ultra trader pack. These plans offer different benefits, including reduced brokerage fees, free trades, research advisory, and dedicated customer support.
- Research and Advisory Services:
Share India stands out by offering exhaustive research and advisory services. It provides short-term and long-term investment ideas, derivative strategies, and portfolio-based investment ideas. The platform also offers a portfolio analyzer tool to analyze the performance of your investments.
- Margin Funding:
Share India provides margin funding services. These enable you to make partial payments for your purchases in the cash segment. The balance is funded by Share India at a nominal rate.
- Mobile Trading App and Trading Platforms:
Share India provides a user-friendly mobile trading app, a web-based trading website, and an installable trading terminal. These platforms are built on the latest technology and offer seamless trading experiences. The mobile app allows trading, robo-advisory, and access to various investment options.
- Demat Account Services:
Share India offers demat account services through its membership with CDSL. It has been recognized as a premier depository participant by CDSL.
- Low Charges:
Share India is known for its lowest charges in the industry. It charges a flat fee of 0.03% per order executed, and the platform also offers value-add packs for additional benefits. Additionally, 5Paisa provides free account opening and brokerage-free mutual funds.
- Algo Trading and Robo Advisory:
Share India provides algo trading services and robo-advisory to its customers. These services help automate trading strategies and offer personalized investment advice based on risk profiles and return expectations.
- Customer Support:
Share India offers dedicated customer support for its subscribers. The power investor pack and ultra trader pack include free customer support services.
| Features | Share India |
|---|---|
| Equity Delivery Trading | Yes | Equity Intraday Trading | Yes | Equity Futures Trading | Yes | Equity Options Trading | Yes | Currency Trading | Yes |
| Commodity Trading | Yes | IPO (Initial public offering) | Yes | Stocks Suggestions | No | Robo Advisory | No | PMS (Portfolio Management Services) | No |
| Trading Institution | No | Trading Exposure | Upto 10x | Mutual Funds | Yes | SIP (Systematic Investment Plan) | Yes | Forex Trading | No | Banking | No | Insurance | No |
Share India 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.
| Services | Share India |
|---|---|
| Fundamental Reports | No |
| Research Reports | No |
| Company Reports | No |
| Annual Reports | No |
| Company Stock Review | No |
| Free Stock Tips | Yes |
| IPO Reports | Yes |
| Top Picks | Yes |
| Daily Market Review | Yes |
| Monthly Reports | Yes |
| Weekly reports | Yes |
| Offline Advisory | Yes |
| Relationship Manager | Yes |
Share India Trading Platforms
The Share India 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.
Share India Trading Platforms
| Desktop Trading Platforms | Share India |
|---|---|
| Windows | Yes |
| Mac | Yes |
| Desktop Browser | Yes |
Share India Mobile App
The Share India 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 App | Share India |
|---|---|
| Mobile Browser | Yes |
| Android App | Yes |
| iOS App | Yes |
| Windows App | No |
| Other mobile os | Yes |
Share India Web Trading
For web-based trading, Share India offers a powerful trading website known as Share India 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.
Share India Trade Terminal
Share India 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.
Share India Customer Support
- Relationship manager: Yes, Share India does offer a dedicated relationship manager for customers. However, they provide other channels for support.
- Offline trading support: Yes, Share India does offer offline trading support. All trading activities are conducted online.
- Online trading support: Share India provides online trading support to customers. Their trading platform is accessible via mobile app, web browser, and desktop application, allowing customers to trade conveniently.
- 24*7 support: Share India offers round-the-clock support to customers. This means you can reach out to their customer support team at any time, even outside regular business hours.
- Email support: Customers can contact Share India’s customer support team via email for assistance. They provide an email address where customers can send their queries and concerns.
- Chat support: Yes, Share India does offer chat support as a customer service channel. Customers can easily reach out for assistance through chat.
- Toll-free number: Yes, Share India does provide a toll-free number for customer support. Customers can use this number to seek assistance conveniently.
- Support branches: Yes, Share India has physical support branches where customers can visit for assistance. In addition, customer support is also provided through remote channels.
| Customer Support | Share India |
|---|---|
| Relationship Manager | Yes |
| Offline Trading | Yes |
| Online Trading | Yes |
| 24 * 7 Support | Yes |
| Email Support | Yes |
| Chat Support | Yes |
| Toll free number | Yes |
| Support Branches | 16 |
Share India 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 Share India.
| BSE Complaints | Share India |
|---|---|
| BSE Complaints | 11 |
| BSE Resolved Complaints | 11 |
| Percentage of resolved BSE complaints | 100.00 % |
| NSE Complaints | 6 |
| NSE Resolved Complaints | 6 |
| Percentage of resolved NSE complaints | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 100.00 % |
Conclusion
In conclusion, Share India 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, Share India can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.