Sharekhan is one of the top 5 brokerage firms in India. Mumbai based firm Sharekhan started in 2000 by Mr.Shripal Morakhia. Sharekhan is well known for its one of the widest networks across the country having more than 150 branches in around 575 cities in India.
The Demat account helps in maintaining all your securities in one place in a digital format. It keeps the records of all the transactions you have made to trade security and also provides the data of purchase and selling of the same.
Sharekhan is one of the oldest online trading websites which has years of expertise and an experienced team of investment brokers and consultants. Sharekhan provides the customer with one of the easiest ways to create a Sharekhan Demat account within a few minutes.
Open a Demat Account with Sharekhan
A Sharekhan Demat account is straightforward to apply and can be opened within a few minutes. For those who have opened the Demat account through a bank or directly in the stock market, do understand that it is a very hectic and long process and also takes a lot of time in confirming and verifying the identity for the account.
In this case, Sharekhan has made the account opening process easier than it used to be before. A customer has to visit their website and apply for a free Demat account.
One needs to upload their digital copy of the verification documents online. Once uploaded, the team of Sharekhan will contact you after verification and will open the Demat account immediately.
Most probably, the entire process only takes a few minutes, under which your Demat account is activated without any charges, and you can easily use it. Sharekhan Demat account charges are nil, except the minimal annual trading charges on the account.
Currently, Sharekhan has also been offering its customer free combo of Demat and Trading accounts. One can apply for both the accounts at a single time and provide the same identity documents for both. Once verified, both the accounts for the user will be active and ready to use immediately. Once the account is open, an individual can start trading securities in the market.
Types of Trading One Can Do Through The Sharekhan Demat account.
Once the Sharekhan Demat account has been verified and is now ready for use, an individual can start trading in securities and stock.
There are different things that one needs to check before starting to trade in the financial market.
- The very first thing for a person is to check on the type of securities they want to invest in. There are multiple investment options in the market, like stocks, bonds, shares, commodities, etc.
- The most critical aspect of trading is to identify which security would be able to trade better than the other. This way, you will have more chances of hitting the profit than randomly trading in multiple securities.
- For example, trading in Forex is very different from trading Stock. Since Forex can be traded 24 hours, stocks can only be traded for a particular time, until the market is open. Once the market is closed, all trading closes for the day. It is where the Sharekhan team can assist you in. You can simply discuss your requirements and the type of investment one wants to do.
- They can answer a question like “how to transfer shares from one Demat account to another Sharekhan,” or “How to close Sharekhan Demat account,” etc. Once you have the necessary details from the Sharekhan support team, you will be able to invest in the securities.
- Once the securities have been decided, make sure to select the correct style of trading. Intraday trading is one of the most popular styles, where the trader buys the stock or shares of a company and sells them on the same day for profits. In this type of trading, one cannot hold the stock for more than one day. This type of trading leads to smaller profits.
- A different kind of trading is called options trading, where the buyer is given an option to buy the stock at a selected rate for a specific period of time, during which he will be charged only the decided price of the shares, even when the price is higher. Long term trading is where the user holds the shares or stocks for a long period of time, to get increased profits.
Documents Required To Open A ShareKhan Online Demat Account
- Opening a ShareKhan Demat account is very easy. A person has to provide their personal details on the website and Sign up for the same. Once done, it will ask you to provide some basic information that is a mandate for the Demat account.
- Once given, it will ask you to fill up the digital form and verify your identity through digital KYC. Under this, one has to enter the ID details, and the digital copy needs to be uploaded on the server.
- Once the KYC has been verified online, the Sharekhan team will review the form to confirm the details and might also contact the user. Once done, the account will be activated.
For the list of documents and ID’s that are required for the Demat account, check the details mentioned below:
- Xerox of your valid Pan card
- Residence Proof like a copy of Aadhar card, ration card, passport, driving license, a bank statement that is not more than 2 months old
- Your bank account documents and details
- 2 passport size photos
- Additional document required for F&O trading (Any one of the following)
- Income Tax Returns copy which is acknowledged
- Last 6-month account transactions details
- Salary slips that are latest
- Form 16 copy
- Net worth certificate duly certified by a chartered accountant
Sharekhan Demat Account Charges
There are nominal or nil charges for account opening with Sharekhan and some non-pre- specified custodian charges to keep securities safe with the depository participants. But annual maintenance charges vary on the basis of investment in the demat account, following are the slabs in the given table to understand the charges:
Annual Maintenance Charges:
|Upto 50000||No Charges|
|50001-200000||Between INR100-INR500 (As it depends on the number of transactions so some DP (depository participants charge onetime fee of INR2000 also for the annum|
Transfer of Shares from One Sharekhan Account To Another One
- Generally, there are 2 ways to transfer shares from one Sharekhan Demat Account to any other demat account. In case of manual transfer of shares one can ask for a Delivery Instruction Slip from the broker by contacting the nearest branch office.
- After filling up the slip the same can be submitted to the broker to proceed for the transfer of shares.
- It might take approx. 3-5 working days to transfer the shares from the existing account to the desired one. The current broker might apply some charges for this process of transfer, and the rates vary from one broker to another.
Closing Sharekhan Demat Account
There are numerous accounts nowadays an investor can hold but due to competition in brokerage charges and user-friendly interface and customer care support a trader obviously lands to anyone account and thinks of closing the remaining:
The Closing process with Sharekhan too is a lengthy process as with other brokerage firms as it’s a standard process and needs to submit the account closure form to the nearest branch office. After submission of the form the Demat account is completely checked for any dues or remaining securities in the account, and once the check is complete and verified by the respective manager of the department finally proceeds for closure.
Read Also: Sharekhan Vs IIFL: In Detailed Comparison
Sharekhan Demat Account Pros and Cons:
Sharekhan is well known for its one of the best trading platforms “Tradetiger” and “Comtrade” and customer support is so efficient that it attracts the traders very easily.
Along with the above-mentioned strengths trading and brokerage charges also stand very low with Sharekhan.
Sharekhan is restricted to only Indian markets and is one of the biggest disadvantages counted for the firm and it does not allow any other mode of transfer other than bank transfer.
There are multiple benefits of trading in the Stock market using a Sharekhan Demat account. Apart from the benefits, one must understand the stock market is one of the best ways to earn maximum profits over saving. In case a person is unable to invest and trade themselves initially, they can always take the help of a trader or a broker initially to jump start the investment. In the meanwhile, they can simply practice on the smaller trades and securities to earn the maximum profits.
Stock markets are very dynamic and based on market fluctuation due to changes in the economy. The changes in the economy can come due to various reasons such as natural, industrial, etc. In case one selects to trade in the stock market, they need to keep a proper check on the latest news and changes in the market and analyze the history of all the stocks they are trying to invest in. Analyzing the stocks gives a proper view of the trader on whether to invest in the security or not.
The most important point one should understand while trading in the stock market is that people in the past have become millionaires not by simply investing but by analyzing the market and stocks that they want to invest in. By studying the trends and up and down’s one can earn a lot of profits through it.
The stock market includes a lot of securities and one should always select security that they are most comfortable in investing in. Start by investing in security with less risk and slowly and steadily invest in stocks with higher profits and margin. The more your trade and give time towards it, the better you will be at trading and earning profits.
Sharekhan Demat Account FAQs
1. What benefits can you avail by having a Sharekhan Demat account?
A Sharekhan Demat account provides you an opportunity to invest in stock and securities. You can save your stocks, shares, holding, etc. in an electronic format while having a demat account with Sharekhan. It is just like your ordinary bank account. The only difference is that a bank account saves your money and a demat account saves your stocks and shares. Basically, it is used to sell and purchase the stocks and holdings at the right price.
2. What procedure can you opt for opening a ShareKhan Demat account?
Opening a Sharekhan demat account is a very easy process. You just need to fill the details asked online during the account opening process, also, have to complete the online e-KYC form. After doing this, you will be given all the details relevant to your demat account.
3. Is Sharekhan Demat account chargeable?
Sharekhan demat account is free to use for trading and investing but to use its extensive features, you have to pay some charges. To know more, you can visit its official site.
4. Can I buy shares and stocks without opening a Demat account?
No, buying and selling of shares can only be done once you have a demat account. Without a demat account, you cannot buy or sell any sort of shares.
5. How much time will it take to withdraw the money from my Sharekhan Demat account?
A minimum of 3 days will be taken for any sort of withdrawals.
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