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Sharekhan Review
Sharekhan is now Mirae Asset Sharekhan after a November 2024 takeover. SEBI fined the earlier BNP Paribas era firm twice in 2024 for compliance lapses.
Min Deposit
$400
Spreads From
Not applicable, Mirae Asset Sharekhan charges brokerage fees rather than spreads
Max Leverage
Margin varies by product under SEBI derivative rules
Platforms
Mirae Asset Sharekhan Invest app, Sharekhan web trading
Pros
- Backed by Mirae Asset, a large global asset management group
- Long track record, one of India's earliest online brokers
- Free trading account opening and free delivery on some plans
- Wide range of stocks, F&O, mutual funds, and research tools
Cons
- Fined 2 lakh rupees by SEBI in 2024 for delayed client settlements
- Separately fined 4 lakh rupees for weak control over its own staff
- Only regulated in India, not built for international forex clients
- Went through two ownership changes in under a decade, BNP then Mirae
Sharekhan launched around 2000 in Mumbai under founder Shripal Morakhia and became one of India's early online brokers. BNP Paribas took control in 2017, running it as Sharekhan BNP Paribas Financial Services Limited. In November 2024, Mirae Asset Financial Group completed a takeover, and the brand now operates as Mirae Asset Sharekhan.
Clients trade stocks, futures and options, currency derivatives, and mutual funds through the Mirae Asset Sharekhan Invest app. Some plans offer free equity delivery, others charge near 0.3 percent, and intraday trades cost about 0.02 percent or a flat 20 rupees on F&O. Account opening is free, and demat AMC runs about 400 rupees a year.
Regulation stays with SEBI alone. In 2024, before the Mirae takeover closed, SEBI fined Sharekhan 2 lakh rupees for delayed fund settlements affecting 110 clients, and separately fined it 4 lakh rupees for weak control over staff who misused trading terminals. It is not built for international forex trading.
Min. Deposit
USD 400
Max Leverage
Margin varies by product under SEBI derivative rules
Spreads From
Not applicable, Mirae Asset Sharekhan charges brokerage fees rather than spreads
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
