Karvy Stock Broking Review

Rated 4/5 by Top Share Brokers Team
Karvy Stock Broking Review

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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.

Karvy Review 2021 - Quick Summary

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.


  • Full-spectrum of financial products: The broking house provides trading and investment facility across different asset classes such as equity, futures & options, commodity, currency, IPO, MF, ETF, FD, NCDs, bonds, and NPS.
  • Free demat account: Anyone can open a free demat account with Karvy as the broker doesn’t charge any account opening fee.
  • NRI Trading: NRIs can open NRI Demat Account and NRI Trading Account to trade & invest in different asset classes.
  • Various types of accounts: It offers a number of accounts such as Karvy Corporate Account, Karvy Trust Account, Karvy Priority Account.
  • Karvy Thematic Investing: It is a thematic product that allows investors to invest in between 2 to 20 stocks from a particular theme of their choice.
  • Strong branch network: The broker is present across many states with more than 900 branches through which it provides offline services.
  • Advanced trading platforms: Karvy NEST Trader, Karvy NEST Web, Karvy Online and Karvy Nivesh are the trading platforms offered by the broker.
  • Free research: The dedicated research team at Karvy offers various research reports such as fundamental reports, technical reports, flagship reports, and others.
  • Call & trade: Clients can use SMS services as well as telephonic service to place trade orders and know their holdings & positions.
  • Aftermarket orders: The broking house provides After Market Order facility to place orders after market hours.
  • Calculators: The broker has a number of calculators such as investment calculators, goal-based calculators, and financial calculators to assist users in figuring out their financial needs.


  • 3-in-1 account opening facility is not available with Karvy.

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Karvy Investment Options Compare

Here we are comparing Karvy with its 5 close competitors on investment options.

Broker Karvy Sharekhan 5paisa Zerodha SAMCO
Equity Trading Type Yes Yes Yes Yes Yes
Currency Trading Yes Yes Yes Yes Yes
Commodity Trading Yes Yes Yes Yes Yes
Mutual Funds Yes Yes Yes Yes Yes
MF SIP Yes Yes Yes Yes No
ETF Investment Yes Yes Yes Yes Yes
Banking No No No No No
Insurance Yes Yes Yes No No

Karvy Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 3.5/5

Karvy Account Opening Charges

      »»  Trading Account Opening Charges: Free
      »»  Trading Account AMC: Free
      »»  Demat Account Opening Charges: Free
      »»  Demat Account AMC: Rs 500 PA

Karvy Brokerage

  • Equity delivery

    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.

  • Intraday trade

    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.

  • Equity futures

    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.

  • Equity Options

    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.

  • Currency futures

    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.

  • Commodity brokerage

    Karvy’s charges commodity brokerage of 0.02% that is in line with competitors charges.


  • Highly competitive charges in equity delivery, equity intraday, equity futures, currency futures and commodity segment.


  • High brokerage charges in currency futures segment.

For complete brokerage charges and trading plans detail please visit Karvy Brokerage Charges.

Karvy with closest competitors

Here we are comparing Karvy with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Karvy Sharekhan 5paisa Zerodha SAMCO
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

Open Trading and Demat Account with Karvy Stock Broking

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 Demat Account

    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.

  • Karvy Trading Account

    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.

  • Karvy NRI 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.

  • Karvy Mutual Fund Account

    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.

  • Karvy Priority Account

    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.

  • Karvy Corporate 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

    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.

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Alternatives to Karvy


Karvy Trading Platform and Tools

Trading Platforms Rated 4/5

    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:

    1. KarvyOnline Mobile App

      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.

    2. Karvy NEST Trader

      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.

    3. Karvy NEST Web

      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.

    4. Karvy Nivesh

      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.


    • Facilitates trade & investment in equity, F&O, commodity, currency, IPO, MF, NCDs, Bonds etc.
    • Market Heat maps to track market activities.
    • Real-time market news and exchange announcement.
    • Comprehensive review of scrips provides in-depth analysis.
    • Technical charting and indicators
    • Research reports – fundamental reports, technical reports, mutual fund reports etc.
    • Stock market tips and recommendations to benefit from market opportunities.
    • Free mutual fund account to invest in MFs.


    • Investment allowed only in regular plans as direct plans are unavailable at Karvy Nivesh.

    For detail review of mobile app and download please visit Karvy Trading Platform Review.

Karvy Trading Platform Compare

Here we are comparing Karvy with its 5 close competitors on Trading Platform.

Broker Karvy Sharekhan 5paisa Zerodha SAMCO
Desktop Windows Yes Yes Yes Yes Yes
Desktop Mac No No No No No
Web Trading Yes Yes Yes Yes Yes
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
iPad App No Yes Yes Yes No
Mobile Site Yes Yes Yes Yes Yes

Final thought about Karvy

Rated 4/5 by 20 users

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 FAQs

  1. 1. How to close Karvy Demat Account and transfer shares to another broker?

    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:

    • Open a new demat & trading account with other reliable broker.
    • Fill the demat account closure application from available on Karvy Site.
      • For KARVY CDSL Application for Closing Demat & Trading Account >> Download Form
      • For KARVY NSDL Application for Closing Demat & Trading Account >> Download Form
    • Send the filled application form with signed PAN card copt to below address or submit to your local branch office:
    • Karvy Stock Broking Ltd.,
      Karvy House,
      46, Avenue 4,
      Street No.1,
      Banjara Hills,
      Hyderabad 500034

    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



  2. 2. 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.

    Guidelines from NSE to an investor in case of Broker Expulsion/Default

    • NSE has set up a statutory Committee known as the Defaulters' Committee to administer the assets in respect of the defaulters /expelled trading members in NSE. The Defaulters' Committee calls in and realizes the security deposits in any form, margin money, other amounts lying to the credit of and securities deposited by the defaulter and recover all money, securities, and other assets due, payable, or deliverable to the defaulter by any other trading member.
    • The Defaulters' Committee distributes the amount available in the defaulter's account to the admitted claims on a pro-rata basis as per the priority laid out under NSE Rules / Regulations / Bye-Laws.
    • In case the funds in Defaulters' account are insufficient to meet the admitted value of claims, compensation is paid from the Investor Protection Fund, based on the recommendations of the Defaulters' Committee up to a maximum of Rs. 25 lakhs per investor subject to an overall limit per defaulter / expelled member.
    • Investors having claims against the Defaulter/Expelled Trading Member is required to register a claim within 3 months from the date of the Public Notice.

    The process to claim Investor's fund on NSE Website

    • Go to the NSE's website:www.nseindia.com to register complaints in electronic format.
    • Access the Menu as follows:- Home> Domestic Investors > Complaints > Register an e-complaint
    • Fill in the relevant details.
    • Attach the documents as asked in the complaint form and submit them.
    • Ensure to enter valid email id and mobile number. This is required for NSE to get in touch with you.
    • On successful registration, you will receive an email on your registered email address with the details of user id and password.
    • Save this E-mail. It is needed for filing new complaints, tracking complaint status and updating responses to queries raised and uploading documents.
    For more details refer >> Download An Investor's guide to making a complaint



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Karvy Stock Broking User Reviews

17. shivshankar Middle sharma 11/19/2018 1:11:30 PM Reply
very bad services


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
17.1. majukumar 10/23/2019 12:50:46 AM
Yes very bad service is karvy.
16. Majukumar 10/23/2019 12:34:50 AM Reply
Very big fraud broker is Karvy, poor service,payout money option is corruption and mistake only think eat our money don''t use this firm please use discount broker there have many good discount in our place.
15. Naveen kumsr 4/23/2019 12:37:50 PM Reply
Sir i can not contact with you for 2 days i have open a demate accont new
14. VAKIL AHMAD 2/18/2019 5:32:32 PM Reply
13. Omkar mishra 2/9/2019 2:25:24 PM Reply
Can karvy start relation with me as a business partner if possible then please contact
12. Ram jatan singh 1/4/2019 10:37:04 PM Reply
I have forget my demate ac details my broker was Arun kumar singh and i had bought some share but i had not get any details so plz help me to active my account
11. Prabhat Mehta 10/14/2018 2:01:19 PM Reply
Advisory services are excellent.Regular precise calls on shares help gain max profit.


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
10. rohit 8/3/2018 10:45:14 AM Reply
very high brokerage charges.
i have purchase for 2000rs after they charge 25rs per order either sell or buy
the actual brokerage they said was 0.03% for intraday and 0.3% for delivery
then its come around 6rs for delivery.then i dont identified why they charge me 25rs
my best suggession is go with zerodha
best & clear vision.
10.1. Yash 8/23/2018 11:06:48 PM
i''m a karvy user,
25rs is there minimum charges per order . i suggest u to purchase something over 10000 rs and then u will find the correct amount.
9. Anis 6/28/2018 2:36:53 PM Reply
Very Costly . Karvy charges the rate of 2004 when brokerage were too high . They apply same now.


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Below Average
Customer Service - Average
Overall Experience - Very Poor
8. Durga Dass Thakur 5/10/2018 9:51:48 AM Reply
Best costumer service and prompt help


Brokerage - Average
Account Maintenance Fees - Above Average
Website Usability - Average
Customer Service - Excellent
Overall Experience - Above Average

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