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Sharekhan NRI Trading, NRI Charges, NRI Account Opening & Services Review

Sharekhan, the popular stock broker is amongst the top five Share Brokers in India having customer base of more than 20 lacs, 3200 branches and sub Brokers in 575 cities.Sharekhan offers the most convenient way of handling stock market trading. The Sharekhan 3-in-1 account which comprises of Sharekhan trading and demat account and your bank account with AXIS / INDUSIND / HDFC Bank.

Sharekhan provides simple and efficient way to invest in the stock market and other financial instruments via convenient–interlinked Demat, Savings, and Broking account, here Instead of transferring monies to a broker's pool or towards deposits, you can manage your own demat and bank accounts when you trade through Sharekhan.

Sharekhan provides a dedicated Relationship Managers to every NRI customer to offer personalized services.

Shrekhan was founded in 2000 By SSKI Group, and in 2016 it becomes the wholly owned subsidiary of BPN Paribas which is the European Bank. It has captured around 6% of retail broking Market share by considering and fulfilling the demand of the customer. They provide the best online trading platform across the channel and offer multiple accounts to cater to diversified need to the clients.

Sharekhan NRI brokerage charges for Equity delivery trades is 0.50% of the turnover if your account is with Sharekhans Indian Branches and if your account is in Dubai Branch then the same would be 0.75% of the turnover, 0.1% on first leg and 0.02% on second leg if squared off on the same day or 0.1% if square off on any other day on Equity Futures trades and 250 per contract note for Equity Options trade.

Special Offer: Brokerage free equity delivery trading + Flat ₹20 Intra-day and F&O trades. Get the offer
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Why Sharekhan for NRI Trading?
    •  3-in-1 account which comprises of Sharekhan trading and demat account and your bank account with AXIS / INDUSIND / HDFC Bank
    •  Security: Call on Trade facility
    •  E-Broking House with >20 Lac customers.
    •  Wide network of 3200 branches and sub Brokers in 575 cities.
    •  Offers PMS services for wealth management,online Mutual Funds, IPOs and Bonds.
    •  Secure transactions with automated funds and securities settlement
    •  Add on services like relationship manager, tips & recommendations, technical research, market pointers, periodical research reports, training and education.

Sharekhan NRI Trading Account Advantage & Disadvantage

Positives
  •  3-in-1 online trading account..
  •  Security of your investment & money.
  •  Dedicated relationship manager.
  •  Dedicated research division publishes regular reports, sector specific research, company studies etc. that will be available for you to make the right investing decisions.
  •  Derivatives trading,mutual funds,Bonds and IPOs.
  •  Offers AMO and GTC order facility.
Needs Improvement
  •  Very High brokerage..
  •  Minimum brokerage charges.
  •  3 in 1 account facility is only available with select banks (Axis, HDFC, IDBI, and Indusind).

Sharekhan NRI Trading Process for Cash Segment

Trading Account with HDFC PIS Bank-

  • Allocate funds to HDFC PIS A/c
  • Login to Sharekhan A/c.
  • Go to Move Funds.
  • Block the amount to trade
  • Sharekhan connects you to HDFC PIS A/c
  • Confirm amount on HDFC website
  • Limit gets added to Sharekhan A/c. Start Trading

Trading Account with Axis / Indusland /IDBI Bank-

  • Allocate funds to your Axis/Indusland PIS A/c
  • Banks share PIS Balance file with Sharekhan
  • Sharekhan update PIS balance in Trading limit
  • Log into Sharekhan A/c & start trading

Sharekhan NRI Trading Process for Derivative Segment

  • Login to Sharekhan NRO NON PIS Account
  • Visit homepage - go to Move Funds option
  • Select Bank Account & Transfer Funds
  • Limit updated - start trading
  • Futures & Options trading is possible through NRO NON PIS account.
  • NRO bank account is mapped with this trading account.
  • Exchange allots CP code for NRI FNO trades. All NRI FNO orders are sent to exchange with CP code.
Special Offer: Brokerage free equity delivery trading + Flat ₹20 Intra-day and F&O trades. Get the offer

Documents needed to open Sharekhan NRI Trading & Demat Account

  • Photos
  • PAN Card
  • Valid Passport
  • Valid Visa
  • Valid OCI Card / PIO Card
  • Overseas Address Proof
  • Indian Address proof if any
  • Two cheques , fitsr cheque for Account service charges in favour of "Sharekhan Ltd" and Second Cheque for Bank Initial Deposit amounting to Rs. 15000 in favour of "Client Name -Bank Name".

POINTS TO REMEMBER-

  • NRIs can trade in Derivative (Futures & Options) segment through NRO account only.
  • An NRI can deal with only one bank at any point of time. PIS (Portfolio Investment Scheme) approval can be issued by only one bank.
  • Mapping your NRE account with Sharekhan trading account will allow you to trade in the Equity segment whereas, by linking an NRO account, you can trade in both Equity & Derivative segment. You need to open 2 accounts to map both the bank accounts.
  • NRIs are allowed to trade only in equity and equity Futures & Options.
  • Intraday, currency and commodities trading is not allowed for NRIs.

Sharekhan NRI Trading Account Charges:

  • Sharekhan NRI Account Opening Charges for Trading Account (One Time): HDFC -Rs 2,000/- Other Bank -Rs 1,000/-.
  • Sharekhan Annual Maintenance Charges for NRI : Rs 3,000/-
  • Sharekhan PIS Account Annual Maintenance Charges-Rs 1,000/- .

Sharekhan NRI Brokerage Charges

Segment Brokerage Charges
Equity Delivery 0.50% of the turnover (Indian Branch), 0.75% of the turnover (Dubai Branch)
Equity Intraday Not Allowed
Equity Future 0.1% on first leg and 0.02% on second leg if squared off on the same day or 0.1% if square off on any other day.
Equity Options 250 per contract note.
Currency Future Not Allowed
Currency Options Not Allowed
Commodity Not Allowed
Zerodha (No 1 Broker in India): Free Equity and Mutual Funds + Flat ₹20/trade Intraday/F&O Open a/c in 15 Minutes

Sharekhan NRI Customer Care: Sharekhan NRI Desk contact number

  • Sharekhan NRI Customer Care Number: +91 022 6518500
  • Sharekhan NRI Customer Care Email ID : [email protected]

Final Thought about Sharekhan NRI Services

Sharekhan is one of the oldest and reliable broking house having huge network of branches across India & abroad. Sharekhan provides advanced trading software, Stock research , mutual fund research and dedicated RM assistance.The only downside is Sharekhan does charge higher brokerage for its services vs its peers in discount broking segment.