Sharekhan Review · 2026

What is Sharekhan?

Sharekhan is a Mumbai-based Indian full-service broker, founded on February 8, 2000 by Shripal Morakhia and acquired in November 2024 by South Korea's Mirae Asset Financial Group for around ₹3,000 crore. The firm now operates under the Mirae Asset Sharekhan brand from The Ruby tower in Dadar (West), Mumbai. Its parent, Mirae Asset Securities, is listed on the Korea Exchange (KOSPI: 006800) and the group reports assets above 600 billion USD across its asset-management arm. The broker reports around 630,000 active clients across Indian equities, derivatives, commodities, mutual funds, and Portfolio Management Services (PMS). The stated business model is full-service brokerage with in-house research, dealer support, and a desktop trading terminal.

Which regulators license Sharekhan?

Sharekhan is licensed by the Securities and Exchange Board of India (SEBI) under stock-broker registration INZ000171337, valid for the cash, futures and options, currency derivatives, and commodity segments. The broker holds trading memberships on BSE (member ID 748), NSE (member ID 10733), MCX (member ID 56125), and the Metropolitan Stock Exchange of India (MSEI). The Depository Participant registration IN-DP-365-2018 covers both NSDL and CDSL, the two Indian depositories that custody dematerialized securities. Two further SEBI registrations apply: Research Analyst INH000006183 and Portfolio Manager INP000005786. SEBI mandates client fund segregation at scheduled commercial banks and runs an Investor Protection Fund through each stock exchange. As of the scan date 2026-05-26, the SEBI public broker register lists Sharekhan Limited under CIN U99999MH1995PLC087498 as active, with no published warning, suspension, or revocation entry.

Trading platforms

The broker runs four trading interfaces. TradeTiger is an executable desktop terminal developed in-house, with multi-market watchlists, technical charting, and order-execution shortcuts aimed at active intraday traders. The Sharekhan App (iOS and Android) carries the same order types in mobile form and reports a Play Store rating in the 4.0-4.3 band at the scan date. Investiger is the broker's mutual-fund and long-term investing module, and Sharekhan.com hosts the browser-based trading and reporting interface. There is no MetaTrader 4, MetaTrader 5, or cTrader (a third-party FX platform) support, which is standard for SEBI-registered Indian brokers focused on exchange-listed instruments. TradeTiger supports basic scripting for alerts and a Trader's Diary log; algorithmic deployment runs through the firm's API on a separate approval flow.

Account types

A standard Mirae Asset Sharekhan onboarding opens three linked accounts: a trading account on the exchanges, a demat account (electronic securities depository) with NSDL or CDSL, and a bank link for funds movement. The broker offers a Standard postpaid brokerage plan and a series of Prepaid brokerage plans, where upfront fees ranging from ₹750 to ₹2,00,000 reduce per-trade rates. Margin Trading Facility (MTF) is available on approval, where the broker funds part of a delivery position against pledged stock. Non-resident accounts (NRO, NRE) and PMS accounts are supported for clients meeting SEBI's minimum investment thresholds.

Minimum deposit

There is no minimum account-opening deposit at the broker. Trading and demat account opening are advertised as free of charge, with no funding required at signup. The first year of demat Annual Maintenance Charge (AMC) is waived; from the second year, the AMC is ₹400. Funds added later are at the trader's discretion and depend on the segment: cash equities carry no margin floor, while F&O positions require SEBI-defined SPAN plus exposure margin per contract.

Deposit and withdrawal methods

Funding routes follow SEBI's standard payment-gateway rules. The broker accepts Unified Payments Interface (UPI), net banking, NEFT and RTGS bank transfers, and physical cheque deposit at branch. Credit cards are not accepted for trading account funding under SEBI guidelines. Withdrawal requests payout to the linked bank account only, since third-party transfers are blocked by Indian KYC rules. The standard payout cycle settles within T+1 working day on cash-segment proceeds. There is no e-wallet, crypto, or international-card route, in line with Reserve Bank of India cross-border restrictions on retail trading.

Tradeable instruments

The broker covers equities and equity derivatives on NSE and BSE, currency derivatives (INR pairs against USD, EUR, GBP, JPY) on NSE and BSE-CDS, and commodity futures and options on MCX. Mutual-fund subscription runs through Investiger with direct-plan access on the AMFI mutual-fund registration ARN 20669. The Portfolio Management Service is open to clients meeting SEBI's ₹50 lakh minimum corpus rule for PMS onboarding. Sovereign Gold Bonds, Initial Public Offering (IPO) applications, and tax-free bonds are bookable from the same account. International equity trading (US stocks, ETFs) is not offered directly.

Spread and commission structure

The Standard postpaid plan charges 0.30% per delivery trade with a minimum of one paisa per share, 0.02% per intraday trade, 0.02% per equity-futures lot, ₹20 per equity-option lot, and ₹5 per currency-option lot. Prepaid plans reduce these rates progressively, with intraday rates falling to 0.01% and futures rates to 0.0002% at the highest tier. Discount-broker peers in India typically operate flat-fee equity intraday plans starting at ₹20 per executed order, against which the Standard plan delivery commission of 0.30% sits at the full-service end of the market. Statutory levies (Securities Transaction Tax, exchange charges, GST) apply on top.

Leverage and margin requirements

Leverage in Indian regulated markets is set by SEBI margin rules, not by the broker. Cash-segment intraday is capped at 5x under the September 2021 peak-margin framework. Equity F&O margin uses the SPAN plus exposure model, with positions marked to market end of day. Currency-derivatives leverage on Indian exchanges typically works out to 25-30x on the notional per the exchange-set initial-margin slab, far below offshore retail-forex ratios. Margin Trading Facility (MTF) permits up to 4x position size on approved delivery stocks against broker interest. There is no offshore 1:500 retail-forex leverage path.

Customer support

The broker runs a phone helpdesk at +91 22 6115 1111, a branch network across most Tier-1 and Tier-2 Indian cities, and a relationship-manager channel for higher-bracket clients. Email support routes through the in-app help section, and the complaint portal escalates to SEBI's SCORES grievance system if internal resolution stalls beyond 30 days. Live chat is offered inside the Sharekhan App and on Sharekhan.com. Communication languages cover English and Hindi as default, with regional-language branch support depending on the city.

Educational resources and analysis tools

In-house research is the firm's traditional selling point. The broker publishes daily morning briefs, sector reports, ideas-of-the-week stock picks, and derivatives strategy notes on Sharekhan.com under the Research tab. The Sharekhan Classroom area hosts beginner content on demat opening, order types, and SEBI investor rights. Webinars run periodically with senior analysts. Investiger surfaces mutual-fund risk profiling and a Goal Planner allocation flow. Technical charting on TradeTiger covers standard indicators, drawing tools, and multi-timeframe windows; the desktop terminal exports historical tick data into its alert engine.

Mobile app and trading experience

The Sharekhan App is the primary mobile channel, available on iOS and Android. It handles equity and derivative order entry, fund transfer via UPI, IPO bidding, mutual-fund subscription, and a position monitor with profit-and-loss tracking. Biometric login and two-factor authentication on fund withdrawal are enabled by default. The mobile-app rating sits in the 4.0-4.3 band on the Google Play Store at the scan date, with a typical complaint pattern around peak-hour latency on high-volatility market days.

Who is Sharekhan best for?

Sharekhan suits Indian residents who want a full-service brokerage with branch support, in-house research, and a desktop terminal, rather than the lowest possible per-trade fee. The Mirae Asset acquisition strengthens parent-level financial backing (KOSPI-listed group, audited financials) while keeping the SEBI licensing intact. Active intraday traders who value TradeTiger and proprietary research will get more than the Standard plan suggests on paper. Pure cost-driven traders who place 50 or more orders a month are likely to pay less on a flat-fee discount-broker model. Non-Indian residents cannot open a retail account here, since this is a domestic broker. Currency-derivative coverage is limited to INR pairs on Indian exchanges, with no offshore forex-pair access.

Forex and derivative products carry high leverage; some or all invested capital may be lost. This content is for information only, not investment advice. Verify the broker's current regulation status with the relevant authority's official site before any investment decision.