Sharekhan Vs Fyers: A Relative Study
Fyers (incorporated in 2015) is a renowned name in the Discount broking industry. They are one of the lower charging brokers of the industry. On the other hand, Sharekhan is a very old and trusted name in the Indian finance broking industry. Both of these organization offers a big basket of services to their customers. Here we will compare Sharekhan vs Fyers in terms of feasibility, service quality, and product offerings.
- Delivery of trading is free.
- Neither there is a hidden cost, nor any subscription charges.
- A referral program is there.
- NRI service is very appraisable.
- 24X7 Customer support facility available.
- Sharekhan is an eminent name in the finance broking industry for their detailed research work.
- They have come up with various investment options to meet the need of each investor.
- Call & trade facility is offered by the organization for free.
- They have a huge business network.
- They facilitate loan against security.
- Arranged training program for traders.
Based on the facilities provided by both, Sharekhan & Fyers we can compare them as follows:
|Rating of overall performance||4 out of 5||4 out of 5|
|Rating: Brokerage charge||2.5 out of 5||3.5 out of 5|
|Rating: Trading platform||4.5 out of 5||4 out of 5|
|Rating: investment plans||5 out of 5||4 out of 5|
|Rating: Customer service||4 out of 5||4 out of 5|
|Classification of Broker||Full-service Broker||Discount Broker|
|Listed under (SE)||BSE, NSE, MCX, NCDEX, NSEL||NSE, BSE, MCX|
Comparison: Based on Account Maintenance Charges:
Based on the segment-wise AMC & Account opening fees we can detail SHAREKHAN & FYERS as below:
|Opening: Trading A/c||NO COST||NO COST|
|AMC: Trading A/c||COMPLEMENTARY||COMPLEMENTARY|
|Opening: DEMAT Account||NO COST||NO COST|
|AMC : DEMAT A/c||400/- Rupees p.a. (Waived for 1st year)||400/- Rupees p.a.|
Comparison: Based on Brokerage Plan:
Fyers don’t offer any brokerage plan. Whereas Sharekhan offers only multiple brokerage plans.
Comparison: Based on Brokerage Charges:
Sharekhan has come up with a % base brokerage plan. Fyers issues a plan to its investors which costs maximum INR. 20/- per order. Also, both Sharekhan has a fixed minimum brokerage charge of INR.20/-, whether there is no fixed brokerage fee for Fyers.
|Plan Name||Classic Trading Plan (Percentage Based)||Max 20 Rupees Per Order Trading Plan|
|Equity Delivery||0.5% or 50 paisa||Free|
|Equity Intraday||0.1% or 10 paisa||0.01% or 20 Rupees whichever is lower|
|Equity Futures||0.1% or 10 paisa||0.01% or 20 Rupees whichever is lower|
|Equity Options||2.5% of Premium or 250/- Rupees per lot whichever is high||Flat Fee 20/- Rupees|
|Currency Futures||0.1% or 10 paisa||0.01% or 20 Rupees whichever is lower|
|Currency Options||2.5% of Premium or 30 Rupees per lot whichever is high||Flat Fee 20 Rupees|
|Commodity Trading||0.1% or 10 paisa||NA|
|Minimum Brokerage||20 Rupees||NIL|
|Hidden Charges||Not Available||Not Available|
|Funding||Yes – 18% interest PA||Not Available|
|Call & Trade Charges||Free||20 Rupees Per Order|
Transaction Charges compare:
We can compare Sharekhan & Fyers as below based on the segment wise transaction charge:
|Equity: Delivery||325 Rupees Per Cr||325 Rupees Per Cr|
|Equity: Intraday||325 Rupees Per Cr||325 Rupees Per Cr|
|Equity: Futures||190 Rupees Per Cr||240 Rupees Per Cr|
|Equity: Options||5000 Rupees Per Cr||5900 Rupees Per Cr|
|Currency: Futures||100 Rupees Per Cr||175 Rupees Per Cr|
|Currency: Options||4000 Rupees Per Cr||6500 Rupees Per Cr|
|Commodity||Non-Agri: 260 Rupees Per Cr Agri: 175 Rupees Per Cr||NA|
Sharekhan & Fyers, both ensures various facilities to the investor as below mentioned:
|3 in 1 Account||NOT AVAILABLE||NOT AVAILABLE|
|Algo Trading||NOT AVAILABLE||AVAILABLE|
|SMS Alerts||AVAILABLE||NOT AVAILABLE|
|Online Portfolio||AVAILABLE||NOT AVAILABLE|
|Margin Trading Funding Available||AVAILABLE||NOT AVAILABLE|
|Combined Ledger for Equity and Commodity||AVAILABLE||NOT AVAILABLE|
|Intraday Square-off Time||3:15PM||3:15PM|
|NRI Trading||AVAILABLE||NOT AVAILABLE|
|Other Features||NIL||Free Call & trade|
Comparison: Based on Trading Platform:
Sharekhan & Fyers, both come up with different platforms for trading like, android application based, trading, desktop platform, etc.
|Name of Trading Platform (Desktop)||TradeTiger||Fyers One|
|Mac Desktop||NOT AVAILABLE||NOT AVAILABLE|
|Web based Trading||AVAILABLE||AVAILABLE|
|Web Trading URL||https://www.sharekhan.com/||http://webtrader.Fyers.in/userMaster/login|
|Mobile Browsing site||AVAILABLE||NOT AVAILABLE|
|Trading on Mobile||AVAILABLE||AVAILABLE|
|Application for Mobile Trading||Sharekhan||Fyers Markets|
|iPhone Mobile Application||AVAILABLE||AVAILABLE|
|Android Tablet Application||AVAILABLE||AVAILABLE|
|Charges for Trading Software||Free||Free|
Investment offer based comparison:
There are too many opportunities for investors to invest their hard-earned, money into various segments. Both Sharekhan & Fyers provide every possible option for their customers to indulge in investing.
|Equity Cash and F&O||AVAILABLE||AVAILABLE|
|Online IPO Application||NOT AVAILABLE||NOT AVAILABLE|
|Bond / NCD||AVAILABLE||NOT AVAILABLE|
|Banking||NOT AVAILABLE||NOT AVAILABLE|
|Forex||NOT AVAILABLE||NOT AVAILABLE|
|MF SIP Investment||AVAILABLE||NOT AVAILABLE|
|Equity SIP Investment||NOT AVAILABLE||NOT AVAILABLE|
|PMS Service||AVAILABLE||NOT AVAILABLE|
Comparison: Based on DEMAT Account offerings:
Here we will compare Fyers vs. Sharekhan regarding the charges & offerings of DEMAT Account:
|DP ID||36000||Info Not Available|
|Demat Account Annual Maintenance Charges(AMC)||500/-Rupees pa||400 Rupees – Individual, 500 Rupees – Non Individual|
|Advance Deposit||500 Rupees Advance which will be adjusted against billing (Optional). Tariff D-“Deposit 2999 Rupees (refund of deposit 2000 Rupees on closure)||NIL|
|Statutory charges||Actual Stamp Paper Charges||NIL|
|Transaction Charges on Debit (Per ISIN)||0.03% (Min 30 Rupees) + 5.50/- Rupees (CDSL Charges)||Flat 20 Rupees + 5.5/- Rupees (CDSL charges) [On and Off Market Orders]|
|Demat||5 Rupees per certificate (Min 50 Rupees per request)||2 per certificate + 35 Rupees courier charges|
|Remat||50 Rupees per certificate or 50 Rupees for every hundred securities||25 Rupees|
|Pledge Creation||0.03% (Min 100 Rupees)||0.05% of the transaction value subject to a minimum of 50 Rupees and a maximum of 250 Rupees|
|Pledge Creation Confirmation||Nil||0.05% of the transaction value subject to a minimum of 50 Rupees and a maximum of 250 Rupees|
|Pledge Closure||Nil||0.05% of the transaction value subject to a minimum of 50 Rupees and a maximum of 250 Rupees|
|Pledge Closure Confirmation||Nil||0.05% of the transaction value subject to a minimum of 50 Rupees and a maximum of 250 Rupees|
|Pledge Invocation||Nil||0.02% of the transaction value subject to a minimum of 50 Rupees + depository charges at actually|
|Failed Instruction Charges||Nil||30 Rupees per transaction|
|Other Charges||Freeze/De-freeze – 25 Rupees per transaction|
Stock lending & Borrowing – 0.02% of the value of the transaction per request (minimum 100 Rupees)
Client Master changes 30 Rupees per request
|Cheque Bounce- 350/- Rupees Physical Statement – 50/- Rupees (Courier charges) Modification in CML – 50/- Rupees per request|
Customer Facility based comparison:
Both Sharekhan vs. Fyers are here compared regarding the quality /facility of customer assistance:
|24/7 Customer Service||NOT AVAILBLE||NOT AVAILABLE|
|Online Live Chat||AVAILABLE||NOT AVAILABLE|
|Toll Free Number||AVAILABLE||NOT AVAILABLE|
|Through Branches||AVAILABLE||NOT AVAILABLE|
|Customer Care Number||1800227500||080 4625 1111|
|Account Opening Process||Offline||Online/Paperless|
|Customer Support Email||[email protected]||[email protected]|
|Head Office Address||Sharekhan Limited,|
Lodha iThink Techno Campus,
No. 19 & 20,
3rd Main, Gandhinagar,
Bangalore – 560009
In this article, you have read the comparative study between Flyers & Sharekhan. But which broker should you choose that should be dependent on your specific requirement? Both Sharekhan and Fyers are renowned & market leaders and offer different plans to their customers.