SBICAP Securities

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SBICAP securities is stockbroking division of the SBI bank. SBICAP ventured into the Stock Broking industry in 2006 and is one of the early adopters of financial stock trading services in India. Being a full-service broker they provide almost all financial services.

SBI is the most trustworthy Bank, therefore SBI capital securities stockbroker everyone can easily trust. They are providing many services and have different divisions which we will be discussing in this SBICAP Broker review. 

Most of the Indians have an account with SBI Bank. SBI is the largest bank in India. But, all SBI Bank branches don’t offer facility & service for SBI demat & trading account. Overall SBICAP securities have branches in almost all cities in India & have a huge customer support department.

8Expert Score
SBICAP Securities SBICAP securities is stockbroking division of the SBI bank. SBICAP ventured into the Stock Broking industry in 2006 and is one of the early adopters of financial stock trading services in India. Being a full-service broker they provide almost all financial services. SBI is the most trustworthy Bank, therefore SBI capital securities stockbroker everyone can […]
Trading Platform
7.1
Fee
7.9
Margin
7.5
Account Opening
6.3
Product & Features
7.8
Education
8.9
Research
9.1
Customer Support
9.1
PROS
  • Dedicated research team which provides constant updates of market research and upcoming trends
  • Instant contact with customer service representatives, Overall Awesome customer service.
  • Provide 3 in 1 account facility.
  • They offer a big set of online tools and calculators which you can use to enhance your research before investing.
CONS
  • They have a very high brokerage rate in comparison to all discount brokerages these days. 
  • The Technologies they use are not quite efficient and you tend to face problems with the User experience.

Specification: SBICAP Securities

Segment Wise Broekerage
Commodity Futures Brokerage 0.03%
Currency Futures Brokerage 0.015%
Currency Option Brokerage ₹20 per lot
Equity Delivery Brokerage
Equity Future Brokerage 0.03%
Equity Intraday Brokerage 0.05%
Equity Option Brokerage ₹ 50 /lot
Account Charges
Offline Order Placing Charge ₹ 10 per call after 30 free call
Tips & Research Available (Free)
Trading & Demat A/C Opening Charge ₹ 850
Commodity A/C Opening Charge NA
Specification
Brokarage Type
DP Transaction Charge Rs.21 or .01% (which ever is higher)
Segment Supported , , , ,
Services , , , , , ,
AMC Charge (Yearly) ₹ 350

Trading Platform

Mobile App

1

SBI Smart

SBI cap securities have an application SBI smart which you can easily download from the app store. It has a rating of 2.8 on the Google play store which quite frankly is not good. They have more one-star reviews than the five-star ones. People get a lot of technical difficulties in using the application.  The user interface is not optimized according to proper utilization. Reviews by people tell us that you need to constantly login again and again and people face problems while placing orders.

SBI SMART

SBICAP BROKER MOBILE APP DEMO

PROS:
  • Light Application

CONS:
  • Limited uses of application
  • Frequent Log Out Issue
  • Difficult to use
  • Lots of bugs

Although it contains all the basic features required for trading, we would not recommend you to rely on the mobile application to do all your trading. People have reportedly faced problems while using the mobile application. Web Browser Trading platform is more convenient and is relatively better than the mobile app.

2

SBISMART Money

SBICAP Recently Launched this mobile app new mobile trading app SBISMART Money. This application is far better in features compared with the SBISmart app. Still, they don’t meet expectations as this app has only 2.7 Star in the Google Play store, which is very low. People reported the app is not working at critical times especially during market peak times.

SBISMART Money mobile app is not good even they have provided all the latest features & services. This mobile trading app also available for iPhone and iPads. It is similar to the Android app and they have made sure to provide the same facilities to iOS users.

PROS:
  • Easy to use

CONS:
  • App crashes frequently
  • Hangs many times
  • Login Issue

app is not working at critical times especially during market peak times.

But Overall App performance needs improvements.

SBI Smart Xpress (Desktop Platform)

SBI smart Xpress is a downloadable desktop application by SBI. It is one of the most comprehensive applications as it contains all the features necessary for trading online. The features start with the very basic live streaming of stock market news and rates.  They also provide on-screen alerts. The application contains various charting tools that are extremely essential for technical analysis.

It lets you do the technical analysis as well as help in the fundamental analysis at the same place. You can do all the tasks from a single application including transferring funds from and to the trading account. However, connectivity is slow and sometimes you might face problems while placing orders.

Walk-in branches

SBI also gives you an option to walk into one of their 115 branches and place an order after visiting physically. This trend has been following for many years. Earlier people were not technologically savvy and visiting the brokerage office was the only option to trade. 

Relationship manager

They also assign relationship managers to every client. You can always communicate with the relationship manager and place orders directly. For investments into various instruments like Mutual Funds, IPOs, SIPs, they also offer doorstep delivery services and investment Advisers. Who advise you to make important financial decisions.

Dial and Trade

SBI as stockbroker also provides other options like dial and trade in which you can call and place orders. You have to call over 022-68545555 from 08.30 a.m. to 6.30 p.m. (Monday to Friday except for Trading holidays).

Minimum buy/sell order value of 1000/- (only in cash segment) will only be accepted as an order. They offer 30 calls free in a month after which Rs.10 (Plus Taxes) will be charged per call apart from brokerage charges. Maximum 3 Scrips can be inquired per call.

Fee

Brokerage Charges

SBICAP segment-wise Brokerage structure and rates are tabulated below.

SegmentDelivery BrokerageIntra-Day (First leg) BroekrageIntra-Day (Second leg) Brokerage
Equity (Cash)0.50%0.075%0.075%
Derivatives Future 0.05%0.03%0.03%
Derivatives Option (Per Lot)Rs. 100/-Rs. 50/- Rs. 50/-
Currency Future0.03%0.015%0.015%
Currency Option (Per lot)Rs. 30/-Rs. 20/-Rs. 20/-

The minimum brokerage charges in SBICAP is ₹0.05 for Equity cash & ₹0.01 for Derivative Futures.

Account-Related Fee

To open a new demat account with SBICAP, the customer has to pay demat account opening charges. After opening the account, SBICAP also charges Annual Maintenance Charges (AMC) yearly to maintain the demat account.

Demat & Trading Account Opening Charge (One-Time)₹850/-
Commodity Account Opening ChargesNA
Account Maintenance Charges (AMC-Yearly)₹350/-
Call & trade charges₹30/- after 30 free call

Margin

SBICAP provides slightly lower intraday margins across equities, F&O, commodities, and currency futures. You can have a look at the following SBISmart Segment wise Margin:

SegmentMargin/Limit/Leverage
DeliveryNo Margin In Delivery
IntradayUpto 8X
Equity FuturesUpto 3X
Equity OptionsUpto 4X
Currency FuturesUpto 4X
Currency OptionsUpto 4X
CommoditiesNA

Education

SBICAP website has an Education education section which you can use to educate yourself about the market.

SBICAP has covered & provided informational content covering the core basics of the Investment. Under SBICAP website they have provided educational content in 5 segments:

  1. Learning Room: Through our Learning Room, they have covered the various topics and complex terminologies related to investments. This will help you get basic insights into finance and investment.
  2. Tools & Calculator: SBICAP website has provided basic Financial tools to evaluate specific financial plans taking into account present and future cash flows, assets, and liabilities. This will help you to plan your investments using various ‘what-if ‘ scenarios. Through, these tools you will get a broader insight into your current financial needs and Investment profile.
  3. Demo: SBICAP has also demonstrated video covering basic terminology & how the trading platform works & by showing it in action.
  4. Smart Insights: This section covers a few basic concepts and terms related to the stock market. They have illustrated all also various features of SBISMART particularly related to the stock market.
  5. Smart Edutainment: In this feature, SBICAP illustrates the stock market basic by animation videos. SBICAP recently launched this initiative so they only a few animated educational videos. We think the animation video is a better option to learn as the video is more effective than text.

Research & Reports

SBICAP as Stock Broker provides Trading calls from a dedicated Research Desk. You will get timely news about everything that is happening around the equity & commodity market. After account opening, they started sending research reports & recommendations over email.

They also offer exclusive Advisory Services for preferred clients. In which they will assign designated personalized adviser to your SBICAP account. You can reach him over call or email. They try and address your stock specific queries, recommend stocks & products accordingly to your risk appetite and return expectations.

Which ultimately attempts to maximize returns on your equity investments. The great part is that they don’t charge for advisory services.

Customer Support

SBICap is an online traditional full-service broker so they have countrywide physical presence and branches. SBICAP Security Broker has centralized customer support. You can contact customer support over Phone or Email to solve your queries.

  • Phone: They have a dedicated phone line “022 6854 5555”. The timing of the phone line is 8:30 a.m. to 5:30 p.m. on all trading days. Professionals answering the phone lines can resolve all the major problems. You might face problems with the software and application but the conversation with the customer service is generally smooth.
  • Email: You can also email them at helpdesk@sbicapsec.com. The resolution of problems at email is relatively slow and time-consuming. Although they have three levels for complaint redressals. If you do not get a satisfactory solution from the initial email you can use level 2 and email them again.
    If you do not get the solution even after level 2, you can write an email to the escalation department at escalations@sbicapsec.com email sent at this address are usually dealt with professionals and they make all the necessary efforts to solve your problem.
  • Branch Support: It is better to call them or visit them physically to get instant solutions to problems. They have branches in almost all cities in India and people get a lot of satisfaction by meeting the stockbrokers and Getting their answers solved in real-time.

Overview

Generally, we refer to SBICAP securities as “The first stockbroker of most of the stock market newbie“. Whenever somebody enters the world of trading and stock investing, the first biggest concern that people have is Safety.

If you want to trade or invest your hard-earned money, you are always extra cautious to make sure that you are dealing with the right organization. In that case, you might look for SBI Cap. But still, You have plenty of room to choose another broker.

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