SBICap Securities Review
SBICap Securities ltd is the broking arm of SBI or State Bank of India. It is India’s one of the best well know and renowned full-service bank broker. It started its operations in 2006 mid. It is one of the trusted stockbroking firms in the country.
SBI Capital Market ltd is the subsidiary brand of SBI with headquarters in the Mumbai city of Maharashtra. Mr. Arun Mehta founded it, and Ms. Varsha Purandare is the Chairwoman of SBI Securities.
At present, it covers more than 114 locations of the country, including a vast network of franchisees.
Being a bank based broker, it allows its users with a 3 in 1 account facility and offers to get the option for fund transfers between bank and trading account.
Here are some best trading and investment options the broker offers to its customers. The list is mentioned below:
- Equity trading
- Currency trading
- Mutual Funds investments
- DEMAT accounts
- Home loans
- NCDs
- NFOs
- Loans against securities
- IPOs
- Derivative trading
SBICap Trading Software And Platforms
SBICap Brokerage firm provides its clients with in-house developed stock trading platforms and applications.
It covers all types of devices, including web-based trading, desktop-based trading, and mobile-based trading.
The main reason for staying ahead of other stockbrokers is all because of its technology-focused plan and offering the best trading experience to its users.
But still, there are lots of performance-based improvements needed to stand ahead of the best trading platforms available in the market.
Let’s check out some of its trading platform offering:
SBICap – SBI SMART EXPRESS
The official desktop-based trading platform of SBI Capital is SBI SMART EXPRESS. It needs to be downloaded and installed on any Windows-based desktop or laptop.
It is advantageous for heavy traders with high performance and quick order executions.
Here are some best features of SBI SMART EXPRESS:
- The user will be availed with historical data of stocks including both technical and Fundamental analysis
- The single-screen trading experience offers functionality like chartings with a variety of technical trading indicators.
- The user can modify, cancel, or square off the pending orders.
- Trading research reports and call recommendations can be found within the trading platform.
SBICap – SBI SMART WEB
The official web-based trading platform of SBI Capital securities ltd is named as SBI SMART WEB. It can be used directly by accessing the trade link with no downloads and installations.
The user needs to login using valid login credentials. The web-based trading platform offers a fast and responsive trading experience to the traders. It can be easily accessible via Desktop, Laptop, Tablet, or Smartphone.
Some of the top-rated features of SBI SMART WEB:
- Keeping the terms and conditions under focus, the SBICap managed to design the lightweight web-based trading terminal to its users. so that it can be used from in any device without any hassles
- Easy fund transfer facility is integrated with the terminal for faster trade benefits
- It offers additional features of both technical and fundamental analysis via different options of trading.
SBICap – SBI SMART MOBILE APP
The official mobile-based trading application of SBICap is SBI SMART MOBILE App. However, the performance and the User Experience is very mediocre.
It is very well designed and provides a variety of trading features, but the usability of the application is very poor.
The users might face random logout issues, and the order placing functionality is not very smooth.
Some features SBI SMART MOBILE App offers:
- It allows the user to access live quotes of stocks and notification messages with trade calls.
- It comes inbuilt with market watch list facilities
- It allows its client to manage orders by checking the status of the order and stock positions too.
- The mobile trading platform offers live real-time market tracking of BSE and NSE.
SBICap Research Report And Advisory Trading Tips
Being a full-service stockbroker SBICap provides the best set of research reports and trading tips to its users regularly. Here are some research reports and product tips SBI Securities offers to its clients for the best profitable trade output.
Detailed Heat Maps
- It is used to figure out specific trending stocks depending on its usage; the color code varies.
- It mainly saves the user’s trading time and allows the user to quickly buy and place intraday orders.
Stock Screeners
- It is mostly used for having a quick look at the market stock momentum and comparing other stocks to analyze profit and loss results.
- Besides, it allows its clients to monitor insight details of Equity and derivative trading segments.
Fundamental Reports
- Here in this section, you will be getting detailed research reports of specific stocks and details about the companies from different sectors.
- A trader will receive recommendation tips for buying or Selling or accumulating or holding the market situation and other impacts on stocks.
Bubble Trade Maps
- This segment offers relative studies of different stocks in one go.
- It allows the user to gain stock-specific movements as per the stock market scenarios.
- Moreover, Bubble Trade Maps uses multiple color codes and are used to offer quick trading ideas as per movement types.
SBICap Customer Care, Support and Office Addresses
The SBICap Securities customer service offerings are very much different from other brokers in terms of quality and responsiveness. All your administrative and account-related queries will be handled very well, and they offer a fast turnaround time.
This full-service bank based brokerage firm allows its users with multiple channels of communication, as mentioned below:
- Via Toll-Free Number
- Via EMAIL
- Web-Form Support
- NRI Calling
- Physical offline branches
Customer Care Numbers, Addresses, and E-Mail ids.
| Corporate Address | SBICAP SECURITIES LTD., A&B WING, MARATHON FUTUREX12TH FLOOR, N.M.JOSHI MARG,LOWER PAREL, MUMBAI – 400013 | |
| Phone Number | Customer Support /Call and Trade For Account Opening | +91 (22) 217 8300 +91 (22) 3027 3300 |
| Email Support | [email protected] |
SBICap Customer Ratings
| Segments | Ratings |
| Additional Fees | 3.2 out of 5.0 |
| Brokerage Charges | 2.8 out of 5.0 |
| Usability | 2.6 out of 5.0 |
| Research Reports | 1.2 out of 5.0 |
| Customer Service | 2.8 out of 5.0 |
| Overall Rating | 2.6 out of 5.0 |
SBICap Prices and Charges
While talking about the SBICap Charges and pricing, we need to consider all the charges. It mainly includes account opening charges, transaction charges, duties, and taxes.
Here is the detailed information of all the Charges SBICap imposes on its customers:
SBICap Account Opening Charges
For performing trading, we all need to open a trading and DEMAT Account with the broker. SBICap Securities charges a certain amount to its users for opening the account and for its yearly maintenance.
| Segments | Charges For Opening Account |
| Account Opening Charges (DEMAT) | Rs. 850 |
| Account Opening Charges (Trading) | Rs. 0 |
| AMC for DEMAT Account | Rs. 350 per annum |
| AMC for Trading Account | Rs. 0 |
While talking about the DEMAT Account opening charges SBICap imposes Rs.850 on its customers and no charges for trading account opening charges.
The AMC for DEMAT Account is Rs 350, whereas the AMC for Trading account is free.
SBICap Brokerage Charges and Plans
Here is the detailed information on charges SBICap securities impose on its clients as brokerage fees. However, the firm doesn’t allow its users to trade in Commodities as of now.
| Segments | Brokerage Charge |
| Equity Options | Rs. 100/Lot |
| Equity Intraday | 0.05% |
| Currency Options | Rs. 30/Lot |
| Currency Futures | 0.03% |
| Equity Delivery | 0.5% |
| Equity futures | 0.05% |
While elaborating on the brokerage charges mentioned in the above table, we came to know that SBICap charges a higher brokerage rate from its customers.
As for Currency and Equity Options, the brokerage charge is Rs. 30 and Rs.100 per lot. 0.05% of the brokerage charge for both Equity Intraday and Futures.
However, for Currency Futures and Equity Delivery, the brokerage charges are 0.03% and 0.5%, respectively.
SBICap Transaction Charges
The broker levied certain percent of charges as transaction charges for trading different segments. Here is the detailed information of transaction charges mentioned below:
| Segments | Transaction Charges |
| Equity Futures | 0.002206% |
| Currency Futures | 0.002206% |
| Equity Options | 0.05515% |
| Currency Options | 0.05515% |
| Equity (Cash and Delivery) | 0.00386% |
SBICap Securities charges 0.00386% of transaction charge for Equity (cash and delivery) trades. Whereas for Equity Options and Currency Options, the transaction charges are 0.05515%. Lastly, for Equity Futures and Currency Futures, the transaction Charges are around 0.002206%.
SBICap Other Charges
In this section, we will discuss other trading charges apart from the brokerage and transaction charges.
These charges are mainly levied by the government for performing trading kinds of stuff.
Here are some of them given below:
| Segments | Other Charges |
| SEBI Charges | 0.0002% of the total turnover |
| STT | 0.0126% of the total turnover |
| Transaction Charges | 0.00384% of the total turnover |
| Goods and Service Tax | 18% of the total brokerage and transaction charges |
| Stamp Duty charges | The charge is very minimal but varies from one state to another. |
The transaction cost is around 0.00384% of the total turnover. The securities transaction tax is the imposed charges on equity gains which is 0.0126% of the total turnover. 0.0002% of the total turnover as SEBI Charge with GST of 18 % and a minimum state-dependent stamp duty charge.
SBICap Margin and Exposure
Trading sometimes wants margin facilities too. Most pro traders utilize the benefits of margin for gaining high profits. However, SBI Cap Securities offers its users with very low and average trade leverage across all trading segments.
Here are the details of the trade exposure given below:
| Segments | Margin and Exposure |
| Equity Delivery | Up to 8 times Margin |
| Equity Options | Leverage of up to 8 times |
| Equity Intraday | Up to 12 times Exposure |
| Currency Futures | Leverage of Up to 5 times is allowed |
| Equity Futures | The margin of up to 8 times |
| Currency Options | Up to 6 times leverage is allowed |
| Commodities | Not Applicable |
In the above-given data, we came to know that the broker provides up to 8 times margin for Equity Delivery, Equity Futures, and Equity Options. However, the broker allows a margin of up to 12 times for Equity intraday trading, and commodity trading is not allowed as of now.
Lastly, for currency futures and currency options, the financial firm offers 5 times and 6 times leverage, respectively.
SBICap Comparison with its Closest Competitor.
SBICap Comparison With Closet Discount Brokers
| Broker | SBICap | 5paisa | Zerodha | Upstox |
| Service Type | Full-service bank-based brokerage Firm | Online Discount Stock Broker | Online Discount Stock Broker | Online Discount Stock Broker |
| Brokerage Range | 0.05% to 0.5% | A fixed charge of Rs. 10 | A fixed charge of Rs. 20 | A fixed charge of Rs. 20 |
| Account Type | 3 in 1 (DEMAT, Trading, and Banking) | 2 in 1 (Trading and DEMAT) | 2 in 1 (Trading and DEMAT) | 2 in 1 (Trading and DEMAT) |
| Equity Delivery | 0.5% or Rs. 0.50 | Rs. 10 (Fixed) | Rs. 0 | Rs. 0 or no charge |
| Equity Intraday | 0.08% or Rs. 0.08 | Fixed charge of Rs. 10 | Rs. 20 or 0.01% (lowest will be preferred) | Rs. 20 or 0.01% (lowest will be preferred) |
| Equity Futures | 0.05% or Rs. 0.05 | Rs. 10 (Fixed) | Rs. 20 or 0.01% (lowest will be preferred) | Rs. 20 or 0.01% (lowest will be preferred) |
| Equity options | Rs. 100/Lot | Rs. 10 (Fixed) | Rs. 20 (Fixed) | Rs. 20 (Fixed) |
| Commodity | Not Applicable | Rs. 10 (Fixed) | Rs. 20 (Fixed) | Rs. 20 (Fixed) |
| Currency futures | 0.03% or Rs.0.03 | Rs. 10 (Fixed) | Rs. 20 or 0.01% (lowest will be preferred) | Rs. 20 or 0.01% (lowest will be preferred) |
| Currency options | Rs. 30 per Lot | Rs. 10 (Fixed) | Rs. 20 (Fixed) | Rs. 20 (Fixed) |
| Rating | 80 out of 100 | 80 out of 100 | 86 out of 100 | 86 out of 100 |
SBICap Comparison with Closet Full Service Broker.
| Broker | SBICap | Sharekhan Online Trading | Angel broking online trade | Edelweiss financial service Ltd |
| Service Type | Full-service bank-based brokerage Firm | The financial firm offers full-service broking | The financial firm offers full-service broking | The financial firm offers full-service broking |
| Brokerage Range | 0.05% to 0.5% | The percentage ranging from 0.10 percent to 0.50 percent based on trade order | Varies from Rs. 15 to Rs.30 depending upon the segment | Varies from Rs. 10 to 0.5% depending upon the segment |
| Account Type | 3 in 1 (DEMAT, Trading, and Banking) | 2 in 1 (Trading and DEMAT) | 2 in 1(Trading and DEMAT) | 2 in 1 (Trading and DEMAT) |
| Equity Delivery | 0.5% or Rs. 0.50 | 0.5% or 50 paise (lowest will be considered) | If under Rs. 50,000 then Rs. 15 will be chargedIf above Rs. 50,000 then Rs. 30 will be charged | Rs.10 or 0.01% (lowest will be considered) |
| Equity Intraday | 0.08% or Rs. 0.08 | 0.1% or 10 paise (lowest will be considered) | If under Rs. 50,000 then Rs. 15 will be chargedIf above Rs. 50,000 then Rs. 30 will be charged | Rs.10 or 0.01% (lowest will be considered) |
| Equity Futures | 0.05% or Rs. 0.05 | 0.1% or 10 paisa (lowest will be considered) | Rs. 30 (fixed Charge) | Rs.10 or 0.01% (lowest will be considered) |
| Equity options | Rs. 100/Lot | Rs. 250 only or 2.5 percent of the premium (higher value will be considered) | Rs. 30 (fixed Charge) | Rs. 10 (fixed Charge) |
| Commodity | Not Applicable | The charge varies from 0.1 percent or Rs. 0.10 (lowest will be considered) | Rs. 30 (fixed Charge) | Not Applicable |
| Currency futures | 0.03% or Rs.0.03 | 0.1% or Rs. 0.10 (lowest will be considered) | Rs. 30 (fixed Charge) | Rs.10 or 0.01% (lowest will be considered) |
| Currency options | Rs. 30 per Lot | Rs. 250 only or 2.5 percent of the premium (higher value will be considered) | Rs. 30 (fixed Charge) | Rs. 10 (fixed charge) |
| Rating | 80 out of 100 | 4.0 out of 5 | 4.3 out of 5 | 4.1 out of 5 |
SBICap Complaints received at BSE/NSE
Here is the detailed information about the number of complaints raised against the broker. The table offers a summary of the grievance that went for resolution.
| Exchange | Financial Year | Number of Clients | Total Complaints |
| BSE | 2019-20 | 101,469 | 13 |
| NSE | 2019-20 | 221,809 | 57 |
| BSE | 2018-19 | 84,317 | 12 |
| NSE | 2018-19 | 209,567 | 50 |
| BSE | 2017-18 | 135,809 | 47 |
| NSE | 2017-18 | 213,616 | 102 |
| BSE | 2016-17 | 71,934 | 11 |
| NSE | 2016-17 | 169,345 | 88 |
| BSE | 2015-16 | 48,871 | 31 |
| NSE | 2015-16 | 125,828 | 78 |
SBICap Merits And Demerits
SBICap Merits
- The brokerage firm is best in offering a wide range of trading and investment products.
- The main advantage of this brokerage firm is that it comes from the house of a highly trustable brand.
- The broker offers a widespread network of its offline branches throughout the country.
SBICap Demerits
- The customer service is not at all satisfactory, offering assistance as reported by its customers.
- The technology integration is on the weak side. The trading platforms offered by the broker are not well optimized in terms of its User interface and performance.
- The mobile trading application is prolonged and doesn’t offer real-time updates
- The trading and DEMAT account opening charges and AMC are very high when compared with other brokerage firms
- The brokerage charges imposed by SBICap are on the higher side.
- The trading calls and research reports are very not very accurate or can be considered as average.
Conclusion
SBICap Securities Ltd is the broking arm of India’s largest financial bank SBI. It is a bank based full-service broker offering 3 in 1 account facility with SBICap combing DEMATS, Trading, and bank account.
Moreover, the broking firm offers all trading and investment options include F&O, Currency, Insurance, NCDs, Mutual funds, and much more.
However, in this Sbicap securities review, the main drawback of the stockbroker is that it doesn’t offer its clients to trade in commodities.
Considering the brokerage charges, SBI Capital is on the high side, but the broker does charge for opening a trading account.
Though the broker offers a variety of trading platforms, SBISMART.com, SBISMART Xpress and SBISMART Mobile Trading App but still is lacking behind in implementing the technological advancements. The platforms need to be more optimized to offer the best user trading experience.
SBICap FAQs
Q1. Does SBICap offer Analysis Reports?
Ans. Yes, Analysis Reports on IPOs is allowed with SBICap Securities.
Q2. Does SBICap offer Weekly Trade Reports?
Ans. Yes, Weekly Trade reports are offered by SBICap Securities.
Q3. Does SBICap offer Monthly Research Trade Reports?
Ans. Yes, SBICap Securities offers Monthly Research Trade Reports.
Q4. Does SBICap Securities offer Detailed market Reviews to its Users?
Ans. Yes, detailed market reviews are available with SBICap Securities.
Q5. Is there any facility to contact the customer support team via Email?
Ans. Yes, SBICap Securities allows its clients to contact via Email to its customer support team.
Q6. Does SBICap Securities allow its clients to use the FAX facility for resolving issues?
Ans. No, SBICap Securities allows its clients to use the FAX facility for resolving issues.
