Reviews of Stock Brokers


Shcil Services

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 Shcil Services, 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

Shcil Services founded in 1995 by Sanjay Pundalik Pote is a Private company headquartered in Mumbai, Maharashtra India. As a Full Service Broker, Shcil Services aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Shcil Services operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewShcil Services
Broker TypeFull Service Broker
Type of companyPrivate
HeadquarterMumbai, Maharashtra
FoundersSanjay Pundalik Pote
Foundation Year1995
Supported ExchangesNA
Total branchesNil

Shcil Services Account opening charges

To begin trading with Shcil Services, you need to open a trading account and a Demat account. Shcil Services charges Rs.399 for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Rs.299 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesShcil Services
Trading Account Opening ChargesRs.399
Demat AMC (Annual Maintenance Charges)Rs.299 per Annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyMinimum Rs.5,000
Offline to Online ChargesYes
DepositoryCDSL & NSDL

Shcil Services Brokerage Charges

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

Equity Brokerage Charges

Equity Brokerage ChargesShcil Services
Equity Delivery Brokerage0.1% – 0.2%
Equity Intraday Brokerage0.01% – 0.02%
Equity Futures Brokerage0.01% – 0.02%
Equity Options BrokerageRs.10 – Rs.20 per Lot

Currency Brokerage Charges

Currency Brokerage ChargesShcil Services
Currency Futures Brokerage0.01% – 0.02%
Currency Options BrokerageRs.10 – Rs.20 per Lot

Commodity Brokerage Charges

Commodity Brokerage ChargesShcil Services
Commodity Options BrokerageNA

Shcil Services Other Charges

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

Other Brokerage ChargesShcil Services
Minimum Brokerage ChargesPercentage of Transaction
Transaction Brokerage Charges0.00269%
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

Shcil Services Equity Leverage

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

Equity LeverageShcil Services
Equity DeliveryUpto 2x
Equity IntradayUpto 5x
Equity FuturesUpto 2x
Equity OptionsUpto 5x

Shcil Services Currency Leverage

Currency LeverageShcil Services
Currency FuturesUpto 4x
Currency OptionsUpto 3x

Shcil Services Commodity Leverage

Equity LeverageShcil Services
CommodityUpto 3x

Shcil Services Offers

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

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

Shcil Services Features

FeaturesShcil Services
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingNo
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)No
Trading InstitutionNo
Trading ExposureUpto 5x
Mutual FundsNo
SIP (Systematic Investment Plan)No
Forex TradingNo
BankingNo
InsuranceNo

Shcil Services 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.

ServicesShcil Services
Fundamental ReportsNo
Research ReportsNo
Company ReportsNo
Annual ReportsNo
Company Stock ReviewNo
Free Stock TipsYes
IPO ReportsNo
Top PicksYes
Daily Market ReviewNo
Monthly ReportsNo
Weekly reportsNo
Offline AdvisoryYes
Relationship ManagerYes

Shcil Services Trading Platforms

The Shcil Services 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.


Shcil Services Trading Platforms

Desktop Trading PlatformsShcil Services
WindowsYes
MacYes
Desktop BrowserYes

Shcil Services Mobile App

The Shcil Services 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 AppShcil Services
Mobile BrowserYes
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Shcil Services Web Trading

For web-based trading, Shcil Services offers a powerful trading website known as Shcil Services 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.


Shcil Services Trade Terminal

Shcil Services 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.


Shcil Services Customer Support

Customer SupportShcil Services
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support Branches920

Shcil Services 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 Shcil Services.

BSE ComplaintsShcil Services
BSE Complaints2
BSE Resolved Complaints2
Percentage of resolved BSE complaints100.00 %
NSE Complaints8
NSE Resolved Complaints8
Percentage of resolved NSE complaints100.00 %
BSE/NSE Complaint vs. Resolved Percentage100.00 %

Conclusion

In conclusion, Shcil Services 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, Shcil Services can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.