Introduction
Sushil Finance is India’s one of the oldest full-service stockbroker. It came into existence in the year 1982 from India’s financial capital city Mumbai. This full-service Broker holds a traders base of over a lac in the country. The network of Sushil Finance is widely distributed in more than 225 cities in India.
The franchise network of Sushil Finance is also very well established and strong enough to hold a presence in any corner of the country.
The system is of more than 450 franchises in more than 21 major cities.
The broker is well known for its high expertise stock and investment handling team. They offer highly useful tips and research reports and make investing in mid and small-cap stocks to gain maximum profit with minimum loss.
The broker had a partnership with more than 50 financial firms & banks. In the year 2012, Sushil Finances introduced its independent insurance-based brokerage firm named as Sushil Insurance Brokers Private Ltd. (SIBPL).
The primary function of this firm is to handle insurance-related demands by the traders and investors.
This financial firm gained its name, fame, and trust under the leadership of Mr. Sushil N Shah. This financial firm is the official member of NSE and BSE. It is a Depository Partner with CDSL
Sushil Financial Services offers various services like:
- Derivative trading
- Currency trading
- Commodity Trading
- Equity trading
- Depository Services
- Mutual Funds
- IPOs
- NRI/QFI Services
- Insurance
- Loan Facilities
NOTE: The most significant advantage of trading with this firm is its transparency. They offer each and every statement related trade and stocks over their official for maintaining confidence amongst its clients.
They are best in giving useful market research reports, but you will get these reports only if you by subscription from them.
They offer super-quick updates and announcements. Also, it provides a portfolio manager to keep you and your investment in the track on a real-time basis.
1. Sushil Finance Trading Platforms
Being a full-service stockbroker Sushil Finance offers extraordinary, effective trading platforms across each and every segment and devices including Desktop, Laptop, mobile, and web-based.
The user can choose any of the trading platforms based on their interests and preferences. Let’s find out some of the best trading platforms offered by Sushil Finance.
I. Sushil Finance PowerTrade
It is an executable file meant for windows-based desktop and laptops. Power trade can be easily downloaded and installed on your system in just a few simple clicks.
It is mainly designed for heavy traders. The application is highly optimized to meet all requirements of power trading.
Here are some Excellent Features of PowerTrade:
- It is integrated with market watch features which help the trader to keep an eye on specific stocks across all trading segments.
- For super quick order placing or trading, it comes with making inbuilt shortcut keys, or the user can create personalized keys based on the trading pattern.
- For quick trade analysis, you will find multiple conditional tickers to boost your trading performance.
- The users will get a provision to place After Market Order (AMO) which allows the trader to perform trades ever after the stock market is closed.
- The trading application offers the clients to create a personalized portfolio based on trading patterns and management skills.
- Sushil Finance PowerTrade comes with various indicators to present EOD and intraday charting.
However, sometimes the application struggles to offer snappy performance due to its bulky feature-loaded interface and configuration.
So if you are a beginner trader, then it’s a wrong choice to trade with this application as you waste most of your time in understanding the software.
II. Sushil Finance Swift Trade
If you don’t want to trade using any application or software, then you must go with web-based trading. This full-service broker offers high web-based trading terminals known as Sushil Finance Swift Trade.
You can perform your trading stuff from anywhere as it is super light and can be accessed with a link only.
Here are some Best Features of this web-based Trading terminal:
- Even at low internet speed, this trading platform works charm fully without any issues.
- You will receive research-based information, tips and market-based reports for active trading. Also, you can set customized preferences to get the desired stories.
- Users can set customized preferences and get personalized market watch lists for best profitable trading.
- Swift Trade is integrated with more than 40 nationalized banks for seamless online fund transfer.
- Aftermarket order (AMO) placements are also allowed with this trading terminal.
If you travel a lot and you want to trade on the go but you are worried about the internet connectivity and speed.
The Swift Trade will be the best option for you as it works wells with minimal bandwidth and provides a wide range of features.
III. Sushil Finance SavaShare
Sushil Finance SavaShare is an HTML5 based web trading platform. It doesn’t require any installation just all you need to log in with your credentials and start trading.
This web-based platform is device-independent; you can trade from any device you want with high accuracy and responsive experience.
Sushil Finance SavaShare is a lightweight web-based platform with various features including:
- It is integrated with the back-office facility to generate market-based reports
- It offers multiple customized market watch lists based on user trade patterns and preferences.
- When you perform trade using this platform, all your trading transaction details and history will be maintained in a properly organized manner.
- You can place premarket and After Market Orders with SAVASHARE.
- It displays top losers as well as top gainers to make you aware of all ups and downs. It includes all active shares on the list too.
IV. Sushil Finance SavaShare Mobile App
When we talk about the SavaShare Mobile application, it’s still in development mode. In other words, we can say that it requires a lot of improvisation, including optimization too.
As per customer reviews, we came to know that this mobile trading application lacks in various segments.
Let’s check out some of the best features of SavaShare Mobile App:
- As per the client’s trading pattern and preferences, the market watch-list can be customized and altered.
- You will get a provision of more than 40+ bank accounts to transfer funds from trading account to bank account and vice versa.
- It is too easy to perform, buy and sell orders placements in just a few clicks.
- Being a client, you will receive free recommendations, reports, and tips via the SavaShare mobile App.
- This mobile app offers various charting types and features on an intraday basis; in addition, you will also get the advantage of using historical level analysis.
- Users can assess the market depth feature to check the top 5 bids and offers.
- You can perform a secure fund transfer from your trading account to your bank account.
Here are some issues faced by users while trading with Savashare mobile application:
- The user interface and the experience are poorly optimized. Mainly traders complained about its font, which is not very clear to read each and every segment.
- The features integrated with the app is minimal
- The frequency of updates offered by Sushil Finance is very slow.
So if you are very new in the trading field, then this application will not spoil your mood. However, if you are an experienced trader, then this app will offer you low productivity and performance.
V. Sushil Finance Connect Mobile App
Sushil Connect mobile app is the second mobile trading application offered by Sushil Finance to its traders for an effective and profitable trade.
Sushil Finance provides a variety of trading platforms. However, we need to know the main features of this mobile trading app in details:
- The main advantage of this mobile app is that it comes with guest login features, where the user can access some basic features like research can be obtained.
- It offers family portfolio, including ledgers trading, and helps you to analyze your daily gains.
- Users will receive a market depth report feature which helps them to analyze every single trade before market movements.
- This app offers effective real-time notifications and alerts that mostly help in placing profitable bids while trading.
- By using Mark to market the summary feature, you will get a rough idea of profits and losses you going to make.
- Multiple price alert notification holds you tight with all movements in stocks come under the price radar.
- Pay Online feature makes the whole fund transfer process super easy in just a few simple clicks.
Here are some issues faced by users while trading with Sushil Connect mobile application:
- The overall app looks and user interface is pretty old and basic when compared with other stockbrokers.
- This app doesn’t offer all trading features. Similarly, you will not find the logout feature in this app.
2. Sushil Finance Research and Services
As we all know, Sushil Finance is India’s one of the oldest Full-Service Stock Brokers. It took years to build a positive reputation by offering effective and reasonable research and tips to its customers.
Here are some research and services Sushil finance provides to its clients:
I. Equity Research
- Multiple Equity intraday tips
- Analyzed market momentum reports
- Useful investment reports based on market rates
- Generates strategies for option and futures trading
- User will get weekly monitored reports based on trading pattern and preferences
- It produces global trading reports for every trader for the latest changes and updates.
II. Commodity Research
- Various Commodity Intraday trading tips
- Effective analyzed market momentum reports
- Users will get weekly monitored reports based on trading patterns and preferences.
III. Currency Research
- It produces general trading reports for every trader for the latest changes and updates.
IV. Mutual Fund Research
- Expert advisory team to guide you with the best funds to invest in.
- Regular market rates and real-time updates provided to its clients for maximum gain.
The only issue with the reports mentioned above is that it is beneficial for beginner level traders or long term investors. However, investors who want to generate quick short term profits daily are not meant for them.
3. Sushil Finance Customer Care, Support and Office Addresses.
Sushil finance offers almost all communication channels for its clients to connect its service team.
- Email Assistance
- Customer care Unit at Offline Branches
- Support over Social Media(Twitter and Facebook)
- Offline and Online trading
- Dedicated trader assistance
Customer Care Numbers, Addresses, and E-Mail ids.
| Registered Office Address | Sushil Financial Services Private Limited,12, Homji Street, Fort,Mumbai- 400 001 Tel. No. +91-22-40936000 Fax No. +91-22-22665758 | |
| Customer Care Contact No. | +91-22-40934071 +91-22-40934076 | |
| Give a Missed call Service | +91-8030636403 | |
| Interested in. | SMS to 56161 | Email Ids. |
| Equity | FINANCE WECONNECT | [email protected] |
| Currency | FINANCE CURRENCY | [email protected] |
| Commodity | FINANCE CMD | [email protected] |
| Online Trading | FINANCE IBT | [email protected] |
| Loan Against Shares. | FINANCE LAS | [email protected] |
| Private Client Group | FINANCE PCG | [email protected] |
| Insurance | FINANCE INSURE | [email protected] |
| Mutual Fund / Fixed Income | FINANCE MF | [email protected] |
| Email us | [email protected] | |
| Complaints Or Grievances | [email protected] |
4. Sushil Finance Pricing And Charges
In this section, you will find all the details regarding Sushil Finance Charges. For trading with Sushil Finance all you need to analyze each and every charge including brokerage charges, account opening charges, transaction charges and other charges levied by the government of India.
I. Sushil Finance Account Opening Charges
The account opening charges are pretty less and offer meager maintenance charges too. However, these charges can be waived off if you initially deposit a high amount in your trading account.
Here are the details mentioned below:
| SEGMENT | CHARGES |
| Account Processing Charges | NIL |
| Trading Account Opening Charges [One Time] | Rs. 750 |
| Opening Charges for DEMAT Account[One Time] | Rs. 555 |
| Annual Maintenance Charges [Yearly] for Trading | Rs. 0 |
| Demat Account AMC or Annual Maintenance Charges [Yearly] | Rs. 300 |
| Margin Money | Rs. 10,000 (Minimum) |
It is a quite simple and easy process to open a trading account with Sushil Finance just by paying Rs.750 as trading account opening charges.
However, this broker doesn’t charge anything to maintain the trading account.
Sushil Finance charges Rs.555 for opening a Demat Account. Also, it charges Rs 300 for Annual Maintenance Charge for your Demat Account. The client can perform trade with just Rs — 10000 as margin money.
II. Sushil Finance Brokerage Charges
In the below-mentioned table, you will get complete information regarding Sushil Finance brokerage charges.
| Segment | Brokerage Charges |
| Equity Delivery | 0.30% to 0.25% |
| Currency Options | Rs. 50 per Lot |
| Equity Futures | 0.03% to 0.02% |
| Currency Futures | 0.03% to 0.02% |
| Equity Options | Rs. 50 per Lot |
| Commodity | NA |
| Equity Intraday | 0.03% to 0.02% |
It is being a full-service broker Sushil Finance going to charge a specific amount of brokerage charges based on trading value.
Based on the user’s trading pattern and trading quantity you can negotiate with brokerage charges and plans, your trading turnover will surely help you to achieve the best possible lower rates compared to other fellow traders.
III. Sushil Finance Transaction Charges
To get Sushil finance’s detailed information about its Transaction charges, just go with the below-mentioned table.
| Segment | Transaction Charges |
| Equity Delivery | 0.003250% |
| Currency Options | 0.051% on premium |
| Equity Futures | 0.002100% |
| Currency Futures | 0.002100% |
| Equity Options | 0.051% on premium |
| Commodity | 0.002800% |
| Equity Intraday | 0.003250% |
The transaction charge Sushil Finance charges on Equity delivery and equity intraday trading is 0.003255% respectively.
However, in the case of equity options and currency options, the broker charges 0.051% on premium. Lastly, for equity futures and currency futures there, transaction charge is 0.002100% whereas, in the case of commodity, the broker charges 0.002800%.
IV. Sushil Finance Other Charges
In this table, we have included all the remaining miscellaneous charges of Sushil Finance.
| Segment | Charges |
| STT | 0.0126% of Total Turnover |
| Sebi Turnover Charges | 0.0002% of Total Turnover |
| Stamp Duty | 0.002% – 0.004% Depends on the State |
| GST | 18% of (Brokerage + Transaction Charges) |
| Margin Funding Charges | 18% + GST |
| Reactivation Charges | Rs. 50 per segment |
| Account Closure Charges | Rs. 0 |
| Dematerialization Charges | Rs. 30 |
The user will be charged with SEBI turnover charges of 0.0002% of total turnover. In addition, you need to pay STT charges of 0.0126% of the total turnover when they trade themselves.
However, the stamp duty charged between 0.002% to 0.004% as it varies from one state to another. 18% GST on Brokerage Charge and transaction charge. This broker also charges an additional 18% GST on margin Funding.
However, on closing an account, the user doesn’t require to pay any charges. For reactivation, you will be charged with Rs. 50 on each trading segment. The Dematerialization Charge Sushil Finance charge is Rs. 30 only.
5. Sushil Finance Margin and Exposure
Here all exposure and marginal values are offered by this broker across different segments:
| Segment | Margin and Exposure |
| Equity Delivery | Up to 2x to 3x margin |
| Equity Intraday | From 2x to 5x times, based on your growth |
| Equity Futures | No exposure |
| Equity Options | No exposure |
| Currency Futures | No exposure |
| Currency Options | No exposure |
From the above-mentioned table, we came to know that Sushil Finance is offering the lowest margin and Exposure when compared with other big players in all different trading segments.
This broker only offers a 3x margin on Equity delivery trading and 2x to 5x times exposure on Equity Intraday based on growth level.
However, this broker doesn’t offer any margin in the remaining trading segments. This is the major drawback of Sushil Finance in the field of Trading.
6. Why Trade With Sushil Finance?
- There are multiple stockbrokers available in India, but Sushil Finance offers a wide range of products, including Equities, F&O, currencies, IPO, etc.
- Almost every broker charge for call N Trade facility, however Sushil Finance doesn’t.
- Sushil Finance works very effectively for small and mid-cap stocks research and offers regular notifications and booking profit.
- This full-service broker also offers huge margins against shares.
- NRI trading facility is also available with Sushil Finance.
- A huge variety of tools is offered by Sushil Finance for SIP in stock.
7. The Process for Opening A Trading Account With Sushil Finance.
In order to perform trading with some stockbroker at first, you just need a trading and Demat account opened. For performing daily trades and regular transaction Demat and trading account is always required.
Likewise, an individual has to open a Demat account with this financial broker too.
Here are some ways by which a customer can open an account with this full-service broker:
- By Visiting An Offline Branch
A user can visit its nearest offline branch of Sushil Finance anywhere across India.
All you need to fill all your details on the account opening manual then keep all your supportive documents ready because the executives may ask for the same for verification purposes.
- Via Online Registration
If you don’t prefer visiting any of the offline branches, then applying online via Sushil Finance website is the easiest and the fastest method.
All you need to visit the account opening link to submit all basic details, including necessary documents.
The whole process takes hardly 15 minutes to get completed, and the individual will get a full activated trading account with all facilities included. Now you can enjoy all types of trading benefits and its different trading platforms.
Read Also: How to Open Demat Account in Different Broker in India
8. Sushil Finance with its Closest Competitor.
I. Sushil Finance Comparison with Discount Brokers
| Broker | Sushil Finance | 5paisa | Zerodha | Upstox |
| Service Type | Full-Service Broker | Discount Broker | Discount Broker | Discount Broker |
| Brokerage Range | 0.01 to 0.03 | Rs. 10 | Rs. 20 | Rs. 20 |
| Account Type | 2 in 1 | 2 in 1 | 2 in 1 | 2 in 1 |
| Equity Delivery | 0.3% or 30 paisa | Flat Fee Rs 10 | Free | Free |
| Equity Intraday | 0.03% or 3 paisa | Flat Fee Rs 10 | 0.01% or Rs 20 whichever is lower | 0.01% or Rs 20 whichever is lower |
| Equity Futures | 0.03% or 3 paisa | Flat Fee Rs 10 | 0.01% or Rs 20 whichever is lower | 0.01% or Rs 20 whichever is lower |
| Equity Options | Rs 50 Per Lot | Flat Fee Rs 10 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Commodity Option | 0.03% or 3 paisa | Flat Fee Rs 10 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Currency futures | 0.03% or 3 paisa | Flat Fee Rs 10 | 0.01% or Rs 20 whichever is lower | 0.01% or Rs 20 whichever is lower |
| Currency options | Rs 30 Per Lot | Flat Fee Rs 10 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Rating | 3.8 out of 5 | 4.0 out of 5 | 4.3 out of 5 | 4.3 out of 5 |
II. Sushil Finance Comparison with Full Service Broker.
| Broker | Sushil Finance | Sharekhan | Angel broking | Edelweiss |
| Service Type | Full-Service Broker | Full-Service Broker | Full-Service Broker | Full-Service Broker |
| Brokerage Range | 0.01 to 0.03 | 0.1 to 0.5% | Rs. 15 to Rs.30 | Rs. 10 to 0.5%. |
| Account Type | 2 in 1 | 2 in 1 | 2 in 1 | 2 in 1 |
| Equity Delivery | 0.3% or 30 paisa | 0.5% or 50 paisa | Rs. 15 /trade less than Rs. 50k orderRs. 30/trade more than Rs. 50k order | Rs.10 / 0.01% whichever lower |
| Equity Intraday | 0.03% or 3 paisa | 0.1% or 10 paisa | Rs. 15 /trade less than Rs. 50k orderRs. 30/trade more than Rs. 50k order | Rs.10 / 0.01% whichever lower |
| Equity Futures | 0.03% or 3 paisa | 0.1% or 10 paisa | Flat fee of Rs. 30/ order | Rs.10 / 0.01% whichever lower |
| Equity options | Rs 50 Per Lot | 2.5% of Premium or Rs 250 per lot whichever is high | A flat fee of Rs. 30/ order | Flat Fee of Rs. 10 |
| Commodity | 0.03% or 3 paisa | 0.1% or 10 paisa | A flat fee of Rs. 30/ order | NA |
| Currency futures | 0.03% or 3 paisa | 0.1% or 10 paisa | Flat fee of Rs. 30/ order | Rs.10 / 0.01% whichever lower |
| Currency options | Rs 30 Per Lot | 2.5% of Premium or Rs 250 per lot whichever is high | A flat fee of Rs. 30/ order | Flat Fee of Rs. 10 |
| Rating | 3.8 out of 5 | 4.0 out of 5 | 4.3 out of 5 | 4.1 out of 5 |
9. Sushil Finance Customer Complaints received at BSE/NSE
There are only a few consumer complaints against Sushil finance. Here is the summary of the grievances which were at the exchange for resolution.
| Exchange | Financial Year | Number of Clients * | Total Complaints ** |
| BSE | 2019-20 | 14,706 | 1 |
| NSE | 2019-20 | 33,948 | 1 |
| BSE | 2018-19 | 26,952 | 3 |
| NSE | 2018-19 | 35,727 | 4 |
| BSE | 2017-18 | 43,251 | 2 |
| NSE | 2017-18 | 39,086 | 2 |
| BSE | 2016-17 | 32,751 | 3 |
| NSE | 2016-17 | 27,196 | 7 |
| BSE | 2015-16 | 32,169 | 7 |
| NSE | 2015-16 | 18,802 | 8 |
| BSE | 2014-15 | 27,498 | 3 |
| NSE | 2014-15 | 18,117 | 7 |
| BSE | 2013-14 | 134,754 | 7 |
| NSE | 2013-14 | 14,797 | 13 |
| BSE | 2012-13 | 129,552 | 6 |
| NSE | 2012-13 | 122,745 | 6 |
| BSE | 2011-12 | 121,006 | 5 |
| NSE | 2011-12 | 116,725 | 4 |
10. Sushil Finance Merits And Demerits
Merits
- More than 570 + sub-brokers spread all across the country in approx 227 different cities.
- Sushil Finance works very effectively for small and mid-cap stocks research and offers regular notifications and booking profit.
- Free call and Trade facilities
- High transparency in brokerage charges and other miscellaneous charges.
- A huge range of investments options and scope to trade in different segments
- Cheapest brokerage charges when compared with other brokers in the race.
- The offline grip is very strongly maintained with the help of offline branches, sub-broker and effective customer service.
Demerits
- Sushil Finance lacks in offering high leverage and exposure to its clients
- The trading platforms need to be improved more in both innovation and optimization. Sushil finance must consider giving regular updates to its trading platforms to boost up the performance level of the users.
Conclusion
This full-service broker is overall a good package that offers everything with minimum margins. Sushil Finance doesn’t make anything extraordinary to get differentiated from other big stock brokers.
To cope up with the race this broker needs to plan some extra benefits to its clients to grab the attention. Sushil Finance must work out on its brokerage, margin technology, and service, etc.
Thus; at last, we conclude that Sushil Finance stands out to be the mediocre stockbroker of India
Sushil Finance FAQs
Q1. Does Sushil Finance is a full-service broker or discount broker?
Ans. No doubt Sushil Finance is India’s one of the best Full-service brokers.
Q2. With how many stock exchanges I can perform trade with Sushil finance? And also name them.
Ans. You can perform trade at NSE, MCX, NCDEX, and BSE with a trading account of Sushil Finance.
Q3. What are the trading segments Sushil finance offers to its clients?
Ans. Sushil finance offers almost all trading segments, including Equity Delivery, intraday, future, options, currency, and commodity.
Q4. What is the charge for opening a trading account with Sushil Finance?
Ans. The trading account opening charge with Sushil Finance is free of cost.
