Alert! This is to inform all readers that after finding fraudulent business activities at Karvy Stock Broking Ltd, the market regular, SEBI has prohibited the stockbroker to take any new clients w.e.f. 22nd November 2019. It is noteworthy that the Karvy Stock Broking can still serve the existing client base to trade-in various financial products and manage their demat account.
Incorporated in 1990, Karvy Stock Broking Ltd (KSBL) is the broking arm of Karvy Group, one of the largest financial service provider company. The Hyderabad-based full-service broker is a registered member of BSE, NSE, MCX, and ICEX and also a registered depository participant with CDSL and NSDL. Karvy offers a complete spectrum of financial products & services including equity, derivatives, commodity, currency, NCDs, FDs, bonds, IPO, mutual funds, and ETFs.
The broking house provides a 2-in-1 account linking Karvy Demat Account and Karvy Trading Account. It further offers Karvy Corporate Account, Karvy Trust Account, Karvy NRI Account, and Karvy Priority Account. One can also open a free mutual fund account with Karvy to invest in mutual funds. Thus, the broking house serves retail, NRIs, HNIs, and institutional clients. In addition, Karvy also provides free research reports like fundamental and technical reports of stocks, mutual fund reports, and others. Further, clients can also seek investment advice from Karvy financial advisors.
A client can access his/her account across any of the trading platforms such as Karvy NEST Web (online web trading), Karvy NEST Trader (Desktop trading), and KarvyOnline mobile application. Its trading platforms provide real-time market updates, news and comprehensive analysis of stocks to assist people in making smarter investment decisions. In addition, Karvy has also launched Karvy Nivesh mutual fund app, a platform for investment in mutual funds.
The broker also has a widespread branch network with 900+ branches spread all over the country from where it provides offline services to clients. It further offers various value-added offerings such as Call n Trade, Assisted Trading, Book a Demo, Ask the Expert, portfolio management and advisory services.
One of the largest stockbrokers offering a full spectrum of financial products including Karvy Demat and Trading Account, NRI account, Corporate Account, Trust Account, research reports, and advisory.
Here we are comparing Karvy with its 5 close competitors on investment options.
|Equity Trading Type||Yes||Yes||Yes||Yes||Yes|
»» Trading Account Opening Charges: Free
»» Trading Account AMC: Free
»» Demat Account Opening Charges: Free
»» Demat Account AMC: Rs 500 PA
Karvy charges brokerage of 0.50% for equity delivery that looks strong competitive because the charges are similar to other brokers i.e. HDFC Securities, Kotak Securities, and SBICAP Securities who charge 0.50% equity delivery brokerage.
The broker charges only 0.05% for equity intraday trading activities that is lower than SBICAP Securities with 0.15% charges and equivalent to HDFC Securities, Sharekhan, and Motilal who charges 0.05% brokerage for intraday trade. Thus, the broker’s intraday charges are highly competitive.
Karvy charges 0.05% brokerage on equity futures trade that is equivalent to other brokers such as SBICAP Securities and Motilal Oswal that charge 0.05% brokerage whereas ICICI Direct levies 0.03%-0.05% charges.
For Equity options, the broking house levies brokerage of Rs 100 per lot that is equal to SBICAP Securities and HDFC Securities charges but significantly greater than ICICI Direct and Reliance Securities that charges Rs 95 – Rs. 35/lot and Rs 40 each lot.
Its currency futures charge is 0.03% and currency options charge is Rs. 50/lot. Currency future brokerage is more or less in line with competitors charges whereas on the options side, SBICAP charges comparatively low brokerage of Rs 50/lot.
Karvy’s charges commodity brokerage of 0.02% that is in line with competitors charges.
For complete brokerage charges and trading plans detail please visit Karvy Brokerage Charges.
Here we are comparing Karvy with its 5 close competitors, who are currently market leader in brokerage industry.
|Service Type||Full Service Broker||Full Service Broker||Discount Broker||Discount Broker||Discount Broker|
|Brokerage Range||0.03 to 0.3%||0.1 to 0.5%||Rs 20||Rs 20||Rs 20|
|Account Type||2 in 1||2 in 1||2 in 1||3 in 1||2 in 1|
|Equity Delivery||0.3% or 30 paisa||0.5% or 50 paisa||Flat Fee Rs 20||Free||0.2% or Rs 20 whichever is lower|
|Equity Intraday||0.03% or 3 paisa||0.1% or 10 paisa||Flat Fee Rs 20||0.03% or Rs 20 whichever is lower||0.02% or Rs 20 whichever is lower|
|Equity Futures||0.03% or 3 paisa||0.1% or 10 paisa||Flat Fee Rs 20||0.03% or Rs 20 whichever is lower||0.02% or Rs 20 whichever is lower|
|Equity Options||Rs 50 Per Lot||2.5% of Premium or Rs 250 per lot whichever is high||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20|
|Commodity||0.03% or 3 paisa||0.1% or 10 paisa||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20|
|Currency Futures||0.03% or 3 paisa||0.1% or 10 paisa||Flat Fee Rs 20||0.03% or Rs 20 whichever is lower||0.02% or Rs 20 whichever is lower|
|Currency Options||Rs 50 Per Lot||2.5% of Premium or Rs 30 per lot whichever is high||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20|
Please refer unique and accurate Karvy Brokerage Calculator
Karvy Stock Broking Ltd facilitates both Indian citizens as well as NRIs to open Karvy Demat Account and Karvy Trading Account to trade & invest in equity, derivatives, commodity, currency, NCDs, IPO, MF, FD and others. The broker provides different types of account to meet individual, corporate, trust and HNIs investment requirements that are explained underneath:
Karvy, the full-service broker and in-DP with CDSL and NSDL, provides free demat account opening facility with zero account opening charges. The demat account facilitates clients to hold securities i.e. shares, bonds, and others in an electronic or dematerialized format.
A trading account is a necessary account to place trade orders including both the buy and sell orders. The broker provides 2-in-1 account wherein one can open both the Karvy Demat Account and Karvy Trading Account.
The broker facilitates NRIs to trade & invest in equity, derivatives, commodity, currency, IPO, mutual fund, and other asset classes through NRI Account. NRIs can open both the NRI Demat Account and NRI Trading Account with Karvy. There is also a dedicated NRI desk to provide support and assistance to NRIs.
Anyone can open a free mutual fund account with Karvy to undertake investment in plethora of mutual fund schemes from equity, hybrid and debt categories. The broker has partnered with 35+ AMCs and enables you to invest via SIP as well as lumpsum route.
Priority Account offered by Karvy particularly targets HNIs investment requirement. With the priority account, HNIs can trade & invest across multiple asset classes and also avail facilities such as customized portfolio, free stock market tips and recommendations, seek investment advice and others. A client who has an initial margin of Rs. 5 lakh or beyond can open Karvy Priority Account.
As its name, corporates can open Karvy Corporate Account to meet their investment requirement. To open it, an initial margin of Rs. 20 lakh or above is required. Through the account, corporates can avail many facilities such as trading & investment, access research reports, seek advisory and others to meet their wealth maximizing objective.
Karvy Trust Account, as the name implies, meet trust’s investment requirement. A trust requires an initial margin of Rs. 10 lak or above to open a Trust account with karvy. By opening the account, trust can avail multiple services i.e. trading & investment in various financial products, get advisory service, access research reports, online trading platforms and others.
Karvy offers 4 trading platforms that are KarvyOnline mobile app, Karvy Nest Trader (desktop trading software) and Karvy NEST Web (online web trading). Further, likewise Zerodha’s coin, Karvy provides a separate mutual fund investment platform, Karvy Nivesh. All of the trading platforms are described here as under:
To provide more convenient trading experience to users, Karvy came up with KarvyOnline mobile app. The mobile app provides more ease and convenience as users can place trade orders anytime anywhere. The app is downloadable on both the android and iOS devices that facilitates users to execute trades in equity, F&O and commodity faster and securely.
Karvy NEST Trader is a desktop downloadable trading software that is embedded with loads of features like interactive charting, technical indicators, comprehensive review on a scrip and many others. The trading software provides a complete analysis of stocks to help users making smarter investment decisions.
Karvy NEST Web, as the name implies, is the online web trading platform offered by Karvy to trade in equities and commodities. The platform can be accessed anytime anywhere via desktop, mobile or laptop. The online web portal comes with number of features such as real-time market information, intraday charting, market picture, trade book, stock investment ideas, and others.
Karvy Nivesh mobile app is the mutual fund investment platform that facilitates investors to invest in mutual funds. With tie-up with more than 35 leading AMCs, the broker offers wide range of mutual fund schemes to invest across equity, balanced and debt categories. One can invest via either lumpsum or SIP mode of investment.
For detail review of mobile app and download please visit Karvy Trading Platform Review.
Here we are comparing Karvy with its 5 close competitors on Trading Platform.
|Android Tablet App||Yes||Yes||Yes||Yes||Yes|
|Android Mobile App||Yes||Yes||Yes||Yes||Yes|
|iPhone App (iOS Mobile App)||No||Yes||Yes||Yes||No|
Karvy Stock Broking, an arm of Karvy Group is one of the largest broker in India. Both Indian and NRIs can open a 2-in-1 account including Karvy Demat Account and Karvy Trading Account. The trading platforms offered by the broker including Karvy NEST Trader, Karvy NEST Web, KarvyOnline, and Karvy Nivesh provide ease, convenience and seamless trading experience to clients. However, if you’re looking for cheaper brokers then you can find other discount brokers as an alternative.
If you like what you have read and want to start trading, leave your contact information with us and we will guide you.
Last updated on 2020-04-07
Karvy Stock Broking (KSBL) has been banned by SEBI for client defaults worth around Rs 2,000 cr making it one of the India's largest cases of equity broker default. In an ex-parte interim order, SEBI banned Karvy from not only taking new clients but also from executing trades for current. Now existing clients are left with only option to close Karvy demat and trading account and tranfer current demat holdings to new broker.
To close your Karvy demat account and transfer your shares please follow the steps below:
Meanwhile you can contact CDSL and/or NSDL with your register email id providing your PAN Information, DOB, Registered phone number and request to confirm your holdings. That way you can make sure what share you are holding with Karvy demat account.How to claim my fund from Karvy after NSE declare broker as defaulter
NSE and BSE both the stock exchanges have declared Karvy Stock Broking as a defaulter. Now investors are worried about their money. Here is the process on how to claim refunds from Karvy.
Investors have 90 days window to file their claim with the exchange and the last date to fill the claim is Feb 22nd, 2021.