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HDFC Sky review India: Brokerage charges

HDFC Sky review India: Brokerage charges
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Category: Stock brokers

Our Rating

The overall rating is based on review by our experts

8
  • Users Rating 8 / 10
  • Features 9 / 10
  • Brokerage Charges & Fees 6 / 10
  • User Interface 8 / 10
  • Customer Support 9 / 10

HDFC Sky is a new discount broking app launched by HDFC Securities, one of the leading full-service brokers in India. App makes it easy, quick, and convenient to invest in different types of assets, like Indian stocks, US stocks, mutual funds, ETFs, and fixed-income instruments. But is it worth opening an account with HDFC Sky? Let’s look at HDFC Sky review and its pros & cons.

Pros of HDFC Sky

Opening an account is free: HDFC Sky lets you open a demat and trading account for free, with no paperwork or trouble. You only need to give your PAN, Aadhaar, and bank information, and an OTP will confirm.

No AMC for the first year: When you sign up for HDFC Sky, they don’t charge you an annual maintenance fee (AMC) for the first year. After the second year, you have to pay ₹20/month as AMC.

Flat brokerage fee: HDFC Sky charges ₹20 or 0.1% (Whichever is Lower) for delivery, intraday, equity futures, Currency Futures & Commodity Futures. This is the same as what Zerodha, Upstox, and Groww do plus a little more. If you trade with HDFC Sky, you can save a lot of money on trading fees. Check all HDFC sky pricings here.

Access to research and advice: HDFC Sky is different from most discount brokers because it gives you access to fundamental and technical research reports from HDFC Securities. The app can also help you choose stocks, give you market updates, breakdown IPOs, and more. This can help you choose wisely when investing.

Easy to use: The HDFC Sky app’s sleek and simple interface makes trading fun and easy. You can see all of your investments in one place, keep an eye on how your portfolio is doing, make trades quickly, and change the way your dashboard looks the way you want it to.

Buy stocks now, pay later: HDFC Sky’s margin trading facility (MTF) lets you buy stocks with credit and pay for them later. At an interest rate of 12% per year, you can borrow up to four times the value of some stocks. This can let you take advantage of market chances without having to worry about having enough cash on hand.

Cons of HDFC Sky

Few trading platforms: HDFC Sky only lets you trade through a mobile app. There is no platform for the web or desktop. For traders who like to use bigger screens or more advanced tools and charts, this can be a problem.

No direct mutual fund investment: The HDFC Sky app does not let you invest in direct mutual funds. You can only put your money into regular mutual funds, which have a higher expense ratio. In the long run, this could hurt your returns.

You can’t trade US stocks yet: HDFC Sky says they will soon, but you can’t do it yet. You have to wait a little while longer before HDFC Sky lets you invest in prices around the world.

Problems with customer service: Some HDFC Sky users have said they have had problems with their customer service. They have complained about getting answers late, having questions that aren’t answered, and having technical problems.

In conclusion:

The HDFC Sky discount broking app looks good. It gives you a lot of investment choices, flat fees, and useful research and advice. Younger investors and people who want to start investing will find the app especially useful. They do have some problems, though, like not enough trading platforms, not being able to invest in direct mutual funds, not being able to trade US stocks yet, and having trouble with customer service. Before you open an account with HDFC Sky, you should carefully think about theese pros and cons.

Investor Grievance Escalation Matrix
Investor Grievance Escalation Matrix
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HDFC Sky by HDFC Securities
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Charges & Features

Company Overview

Company name HDFC Sky
Headquarters Mumbai
Founder Dhiraj Relli
Establishment Year 2023

Account opening & AMC

Account Opening Fee The account opening fee, also known as account setup charges, refers to the one-time charge levied by a brokerage firm when you open a new Demat and trading account to invest in securities like stocks, bonds, or ETFs. These fees can vary depending on the type of account, the brokerage firm, and any current promotions or offers. ₹0
Annual Maintenance Charges (AMC) This is a yearly fee levied by the depository participant (DP) to maintain your Demat account, where your shares are held electronically. ₹20 / Month (Free for first year)

Pledge Charges

Pledge Creation Charges ₹20
Pledge Invocation Charges ₹20
Interest on Margin Trading 12%
Margin Re-Pledge ₹20

Brokerage charges & Fees

Brokerage Plan Standard
Equity Delivery Charges ₹20 or 0.1% (Whichever is Lower)
Equity Intraday Charges ₹20 or 0.1% (Whichever is Lower)
Equity Futures charges ₹20 or 0.1% (whichever is lower)
Equity Options charges ₹20 / Order
Currency Futures charges ₹20 or 0.1% (whichever is lower)
Currency Options charges ₹20 / Order
Commodity Futures charges ₹20 or 0.1% (whichever is lower)
Commodity Options charges ₹20 / Order

Customer services offered

Demat Services ✅Yes
Trading Services ✅Yes
Intraday Services ✅Yes
F&O Services ✅Yes
IPO Services ✅Yes
Share Pledging ✅Yes
NRI Services ✅Yes
Referral Program ✅Yes

Customer Support

Call Support 022-39019400
Email Support customercare@hdfcsec.com
Whatsapp Support ⛔No
Website Support FAQs only

Leverage (Margin) Offered

Equity Delivery Margin Leverage No leverage available; requires full margin upfront
Equity Intraday Margin Leverage Upto 5x depending on the stock (lower leverage for volatile stocks)
Equity F&O Intraday Margin Leverage No leverage available; requires full margin upfront
Equity F&O Carry Forward Margin Leverage No leverage available; requires full margin upfront
Currency F&O Margin Leverage No leverage available; requires full margin upfront
Commodity F&O Intraday Margin Leverage No leverage available; requires full margin upfront
Commodity F&O Carry Forward Margin Leverage No leverage available; requires full margin upfront

Unique Offerings

Free Account Opening ✅Yes
Free Brokerage On Mutual Funds and IPOs only
Free AMC ⛔No
Free Equity Delivery ⛔No
Free F&O Trading ⛔No
Free Intraday Trading ⛔No
Free Trading calls ⛔No
Happy Trading Hours ⛔No
Flexible Brokerage Plans ⛔No
Referral Offers ✅Yes
Margin Funding (MTF)/ Pledging ✅Yes
Brokerage Cashback ⛔No
Zero Brokerage for Loss Making Trades ⛔No
Relationship Manager ⛔No

Services Provided

Equity Delivery ✅Yes
Equity Intraday ✅Yes
Equity Futures ✅Yes
Equity Options ✅Yes
Currency Futures ⛔No
Currency Options ⛔No
Commodity Futures ⛔No
Commodity Options ⛔No
Foreign Stocks ✅Yes, US stocks
Mutual Funds ✅Yes
Banking ⛔No
Insurance ⛔No
Corporate Bonds ⛔No
Govt. Bonds ⛔No
Digital Gold ⛔No

Order Types

Market Order ✅Yes
Limit Order ✅Yes
Bracket Order ⛔No
Cover Order ⛔No
After Market Order (AMO) ✅Yes
Good Till Cancelled (GTC) ✅Yes
Buy Today Sell Tomorrow (BTST) ⛔No
Sell Today Buy Tomorrow (STBT) ⛔No

Research & Reports

Annual Reports ✅Yes
Company Reports ✅Yes
Research Reports ⛔No
Fundamental Reports ✅Yes
IPO Reports ✅Yes
Technical Reports ⛔No
Stock tips ⛔No
Daily Market Review ✅Yes
Monthly Review ✅Yes
Weekly Review ✅Yes
Robo Advisory ⛔No

STT & CTT Charges

Equity Delivery STT & CTT 0.1% on Buy & Sell
Equity Intraday STT & CTT 0.025% on the sell side
Equity Futures STT & CTT 0.0125% on the sell side
Equity Options STT & CTT 0.0625% on sell side (on premium)
Currency Futures STT & CTT ⛔ Does not offer
Currency Options STT & CTT ⛔ Does not offer
Commodity Futures STT & CTT ⛔ Does not offer
Commodity Options STT & CTT ⛔ Does not offer

Trading Features

Watchlist ✅Yes
Real Time Updates ✅Yes
Portfolio Details ✅Yes
Price Alert ✅Yes
Online Mutual Fund Buy ✅Yes
Global indices ⛔No
Customized Recommendations ⛔No
Advanced charting ⛔No
Live market ✅Yes
Multiple Profile Management ⛔No
Secure Platform ✅Yes

Trading Platforms

Android App ✅Yes
iOS App ✅Yes
Web Trading Platform ✅Yes
Trading Terminal ⛔No
Algo Trading Platform ⛔No
Foreign Stocks Trading Platform ✅Yes, US stocks only
Basket Trading Platform ⛔No
Mutual Fund Investment Platform ✅Yes
Digital Gold Investment Platform ⛔No
Bonds Investment Platform ⛔No

Transaction Charges

Equity Delivery Transaction Charges NSE: 0.00325% | BSE: 0.00325%
Equity Intraday Transaction Charges NSE: 0.00325% | BSE: 0.00325%
Equity Futures Transaction Charges NSE: 0.00230%
Equity Options Transaction Charges NSE: 0.056% (on premium)
Currency Futures Transaction Charges Does not offer
Currency Options Transaction Charges Does not offer
Commodity Futures Transaction Charges Does not offer
Commodity Options Transaction Charges Does not offer

Stamp Duty charges

Equity Delivery Stamp Duty 0.015% or ₹1500 / crore on buy side
Equity Intraday Stamp Duty 0.003% or ₹300 / crore on buy side
Equity Futures Stamp Duty 0.002% or ₹200 / crore on buy side
Equity Options Stamp Duty 0.003% or ₹300 / crore on buy side
Currency Futures Stamp Duty ⛔ Does not offer
Currency Options Stamp Duty ⛔ Does not offer
Commodity Futures Stamp Duty ⛔ Does not offer
Commodity Options Stamp Duty ⛔ Does not offer

Other Charges

SEBI Turnover Charges ₹10 / crore
DP Charges ₹20
GST charges 18%
Account Closure Charges Free
Reactivation Charges Free
Dematerialization Charges ₹50 / Share Certificate + Courier Charges
Call and Trade charges ₹20 / Call

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