Top Stock Advisory
Sbicap Securities vs. Unlock Wealth
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Sbicap Securities and Unlock Wealth. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Sbicap Securities and Unlock Wealth.
Overview
Sbicap Securities and Unlock Wealth are both public companies and both are full service broker as well. Varsha Purandare co-founded Sbicap Securities in 1986. And Unlock Wealth was founded in the year 2000 by Alok Tulsyan. Sbicap Securities's headquarters are in Mumbai, India and Unlock Wealth's headquarters are in KANPUR (U.P.).
Sbicap Securities and Unlock Wealth both are full service broker as well. Sbicap Securities is registered in NA, while Unlock Wealth is registered in NA. The total branches of Sbicap Securities are NA and the Unlock Wealth branches are Nil.
| Overview | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Broker Type | Full Service Broker | Full Service Broker |
| Type of company | Public | Public |
| Headquarter | Mumbai, India | KANPUR (U.P.) |
| Founders | Varsha Purandare | Alok Tulsyan |
| Foundation Year | 1986 | 2000 |
| Supported Exchanges | NA | NA |
| Total branches | NA | Nil |
Sbicap Securities and Unlock Wealth Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Sbicap Securities charging Rs.500 and Unlock Wealth charging Free.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Sbicap Securities Demat account is Rs.400 per annum and for the Unlock Wealth Demat account is Rs.290 per Annum. The Trading AMC for Sbicap Securities and Unlock Wealth is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Sbicap Securities and Unlock Wealth is CDSL.
| Account Opening and Demat Charges | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Trading Account Opening Charges | Rs.500 | Free |
| Demat AMC (Annual Maintenance Charges) | Rs.400 per annum | Rs.290 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free | Free |
| Margin Money | Rs.25,000 | Zero Margin |
| Offline to Online Charges | Not applicable | Yes |
| Depository | CDSL & NSDL | CDSL & NSDL |
Sbicap Securities and Unlock Wealth Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Sbicap Securities is 0.50%, while Unlock Wealth charges you 0.29%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Sbicap Securities is 0.08% and for Unlock Wealth also, it is 0.03%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Sbicap Securities charge 0.03% – 0.05% and Unlock Wealth charge 0.03% for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Sbicap Securities charges Rs.50 per lot, and Unlock Wealth charges Rs.29 per Lot.
| Equity Brokerage Charges | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Equity Delivery Brokerage | 0.50% | 0.29% |
| Equity Intraday Brokerage | 0.08% | 0.03% |
| Equity Futures Brokerage | 0.03% – 0.05% | 0.03% |
| Equity Options Brokerage | Rs.50 per lot | Rs.29 per Lot |
Sbicap Securities and Unlock Wealth Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Sbicap Securities is 0.02% and for Unlock Wealth is 0.03%.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Sbicap Securities charges Rs.20 per lot for currency options, whereas Sbicap Securities charges Rs.19 per Lot.
| Currency Brokerage Charges | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Currency Futures Brokerage | 0.02% | 0.03% |
| Currency Options Brokerage | Rs.20 per lot | Rs.19 per Lot |
Sbicap Securities and Unlock Wealth Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Sbicap Securities charges NA for commodity trading, while Unlock Wealth charges NA.
| Commodity Brokerage Charges | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Commodity Options Brokerage | NA | NA |
Sbicap Securities and Unlock Wealth Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Sbicap Securities levies a minimum brokerage fee of Rs.10 per Transaction, while Unlock Wealth charges Percentage of Transaction brokerage fee.
Transaction Brokerage Charges: Sbicap Securities levies a transaction brokerage charge of 0.00384% of Total Turnover, while Unlock Wealth charges 0.00290%.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Sbicap Securities is 0.0002% of Total Turnover and for Sbicap Securities is 0.0002% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Sbicap Securities are 0.0126% of Total Turnover, while for Unlock Wealth, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Sbicap Securities charges NA and Unlock Wealth charges NA.
| Other Brokerage Charges | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Minimum Brokerage Charges | Rs.10 per Transaction | Percentage of Transaction | Transaction Brokerage Charges | 0.00384% of Total Turnover | 0.00290% | SEBI Turnover Charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | NA | NA |
Sbicap Securities and Unlock Wealth Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Sbicap Securities is up to Upto 8x and by Unlock Wealth it is up to Upto 2x.
Equity Intraday: Leverage for equity intraday by Sbicap Securities is up to Upto 12x and by Unlock Wealth it is up to Upto 2x.
Equity Futures: Leverage for Equity Futures by Sbicap Securities is up to Upto 8x and by Unlock Wealth it is up to Upto 1x.
Equity Options: Leverage for Equity Options by Sbicap Securities is up to Upto 8x and by Unlock Wealth also, it is up to Upto 5x.
| Equity Leverage | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Equity Delivery | Upto 8x | Upto 2x | Equity Intraday | Upto 12x | Upto 2x | Equity Futures | Upto 8x | Upto 1x | Equity Options | Upto 8x | Upto 5x |
Sbicap Securities and Unlock Wealth Currency Leverage
The currency futures leverage provided by Sbicap Securities is up to Upto 5x, while for Unlock Wealth it is up to Upto 2x.
The currency options leverage provided by Sbicap Securities is up to Upto 6x, while for Unlock Wealth it is up to Upto 3x.
| Currency Leverage | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Currency Futures | Upto 5x | Upto 2x | Currency Options | Upto 6x | Upto 3x |
Sbicap Securities and Unlock Wealth Commodity Leverage
The commodity leverage provided by Sbicap Securities is up to NA, while for Unlock Wealth it is up to Upto 2x.
| Commodity Leverage | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Commodity | NA | Upto 2x |
Sbicap Securities and Unlock Wealth Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Free Stock Trading Account | No | Yes | Free Demat Account | No | Yes | Flexible Plans | No | Yes | Brokerage Discounts | No | No | Happy Hours | No | No | 1 Month Free Plan | No | Yes | Holiday Offers | No | No | Referral Program | No | No | Zero Brokerage on Loss Trades | No | No |
Sbicap Securities and Unlock Wealth Features
Equity Trading: Sbicap Securities and Unlock Wealth brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Sbicap Securities and Unlock Wealth also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Sbicap Securities and Unlock Wealth broker is that you can also invest in IPOs. Sbicap Securities also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Sbicap Securities offers trading exposure of up to Upto 12x, while Unlock Wealth gives up to Upto 2x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Sbicap Securities and Unlock Wealth, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Sbicap Securities and Unlock Wealth also allow you to trade in forex trading.
| Features | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | No | No | IPO (Initial public offering) | Yes | Yes | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | Yes | No |
| Trading Institution | No | Yes | Trading Exposure | Upto 12x | Upto 2x | Mutual Funds | Yes | Yes | SIP (Systematic Investment Plan) | Yes | Yes | Forex Trading | No | No | Banking | Yes | No | Insurance | Yes | No |
Sbicap Securities and Unlock Wealth Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Sbicap Securities and Unlock Wealth offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | Yes |
| Company Reports | Yes | No |
| Annual Reports | No | No |
| Company Stock Review | Yes | No |
| Free Stock Tips | Yes | Yes |
| IPO Reports | Yes | Yes |
| Top Picks | Yes | Yes |
| Daily Market Review | Yes | Yes |
| Monthly Reports | Yes | Yes |
| Weekly reports | Yes | Yes |
| Offline Advisory | Yes | Yes |
| Relationship Manager | Yes | Yes |
Sbicap Securities and Unlock Wealth Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Sbicap Securities and Unlock Wealth offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | No |
| Desktop Browser | Yes | Yes |
Sbicap Securities and Unlock Wealth Mobile Trading Platforms
Sbicap Securities and Unlock Wealth offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Mobile Browser | No | Yes |
| Android App | No | No |
| iOS App | Yes | No |
| Windows App | Yes | No |
| Other mobile os | Yes | No |
Sbicap Securities and Unlock Wealth Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Sbicap Securities and Unlock Wealth give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Sbicap Securities | Unlock Wealth |
|---|---|---|
| Relationship Manager | Yes | Yes |
| Offline Trading | Yes | Yes |
| Online Trading | No | Yes |
| 24 * 7 Support | No | No |
| Email Support | 225 | Yes |
| Chat Support | No | No |
| Toll free number | No | No |
| Support Branches | S | 920 |
Sbicap Securities and Unlock Wealth Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Sbicap Securities and Unlock Wealth registered and resolved complaints.
For Sbicap Securities, the Percentage of resolved BSE complaints is 62.92 % and the Percentage of resolved NSE complaints is 68.42 %.
For Unlock Wealth, the Percentage of resolved BSE complaints is NaN % and the Percentage of resolved NSE complaints is 100.00 %.
We can say that Sbicap Securities is better than Unlock Wealth in case of resolving customer complaints.
| BSE Complaints | Sbicap Securities | Unlock Wealth |
|---|---|---|
| BSE Complaints | 89 | 0 |
| BSE Resolved Complaints | 56 | 0 |
| Percentage of resolved BSE complaints | 62.92 % | NaN % |
| NSE Complaints | 114 | 1 |
| NSE Resolved Complaints | 78 | 1 |
| Percentage of resolved NSE complaints | 68.42 % | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 65.67 % | NaN % |
Frequently Asked Questions
Is Sbicap Securities better than Unlock Wealth?
Sbicap Securities and Unlock Wealth are at the top among the best full service brokers. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Unlock Wealth better than Sbicap Securities?
Unlock Wealth and Sbicap Securities are at the top among the best full service brokers. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Sbicap Securities and Unlock Wealth?
Sbicap Securities and operate as full-service brokers, generally resulting in higher brokerage charges compared to discount brokers. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Sbicap Securities and Unlock Wealth?
To figure out which of the two stockbrokers, Sbicap Securities and Unlock Wealth, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Sbicap Securities with other stock brokers
Visit the following pages to see a detailed comparision report of Sbicap Securities with other brokerage firms.
Compare Unlock Wealth with other stock brokers
Visit the following pages to see a detailed comparision report of Unlock Wealth with other brokerage firms.