Sushil Finance is, without a doubt, a trustworthy stockbroking company in India right now. First of all, let us discuss some noteworthy highlights of the company.
Established in the year 1982, the company is now a full-service stockbroker. They offer free Demat accounts; however, there are cases where they charge ₹300 per annum for its AMC.
The Brokerage fees are mostly within the range; for Intraday, it is 0.03%, and for Delivery, it is 0.30%. They offer up to 5x Trading Exposure, while the Margin money is ₹15,000.
Find detailed Sushil Finance Review below.
| Sushil Finance Highlights | |
| Broker Type | Full-Service Broker |
| Demat Account AMC | Rs. 300 per annum |
| Margin Required | 75% Margin |
| Intraday Brokerage | 0.03% |
| Delivery Brokerage | 0.30% |
| Exposure | Upto 5X |
What do you know about Sushil Finance?
Before you jump to the conclusion of whether or not you should be associated with them, you should know more about their origin. Sushil Finance Broker is first and foremost, a private limited company since 1982.
That was the year the company was formed. Today, however, they have grown into a corporate giant, and you can say they are a full-service stockbroking company. Mr. Sushil N Shah is the company founder, who has been the key influencer and motivator not only for the company but also for the overall stock market.
The company’s headquarters is located in Mumbai from the beginning; and now, over 37 years of successful operations, they are undoubtedly one of the best stock trading companies in western India.
| About Sushil Finance | |
| Know a few details about Sushil Finance | |
| Which type of Company is it? – Public / Private | Private |
| Which type of Broker is it? – Full Service / Discount | Full-Service Broker |
| Where is the registered office of the Company Located? | Mumbai, Maharashtra |
| Who is the Founder of this Company? | Sushil N Shah |
| When did the company start? | 1982 |
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What are the various Demat Account Opening Charges levied by Sushil Finance?
There is some confusion related to the Sushil Finance account opening fee. Well, not the account opening fee, which is free of cost, but the AMC fee has some mysterious concepts. Sometimes, they charge ₹300 per annum as AMC, and there are cases where they don’t charge anything.
Our best guess, it should be based on the transaction volume. Meanwhile, the Trading account is free to open along with its AMC. You should also know that CDSL and NDSL are the Depository participants, while Dematerialization is also available here.
As discussed in the highlight section as well, the minimum margin money that you need to invest is ₹15,000.
| Sushil Finance Demat Account Opening Fees | |
| Check out the various fees charged for Opening a Demat Account with Sushil Finance | |
| Which is the Depository Participant involved? | CDSL & NSDL |
| What are the Demat account opening charges? | NIL |
| How much is the Demat AMC? | Rs. 300 per annum |
| What is the Trading AMC? | NIL |
| What is the initial Margin amount required? | 75% Margin |
| Is dematerialization available? | Yes |
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Does Sushil Finance provide any Offers to their Clients?
The Sushil Finance offers are often considered very limited. For starters, they offer a free Trading account along with its AMC, while there is a fee to open a Demat account, and there is the AMC fee as well.
Yes, there are two significant offers they provide – Discount on Brokerage and Flexible Brokerage plans. But apart from that, they are quite vacant when it comes to delivering offers to their clients.
They don’t provide Happy Hour Trading, neither they offer 1-month Free Brokerage to new clients. What’s more shocking is they don’t even have a Referral Program. Therefore, expecting Holiday offers or Zero Brokerage for any unsuccessful trades would be foolishness. In short, they need to sort out this particular area and provide more to their clients.
| Sushil Finance Offers | |
| Here are the various offers provided by Sushil Finance | |
| Does the broker provide a Free Demat A/C offer? | No |
| Does the broker provide Free Trading A/C offer? | Yes |
| Is this broker offers a Discount on Brokerage? | Yes |
| Does the broker offer Happy hour trading to their clients? | No |
| Is the broking house provides a flexible brokerage plan? | Yes |
| Does the broker offer 1-month Free brokerage? | No |
| Are the Holiday offers provided by the broker? | No |
| Are there any referral offers shared by the broker? | No |
| Zero Brokerage for Loss-Making Trades | No |
What are the Brokerage Charges levied by Sushil Finance on various Segments?
The Sushil Finance Brokerage charges start with the obvious ones – Equity Delivery and Equity Intraday. Now, for the first one, it’s 0.30%, and for the latter, it’s 0.03%. One of the unexpected circumstances is the unavailability of Commodity Trading from their service list.
For Equity Futures, they charge 0.03%, which is reasonable. So are the Equity Options, for which they charge ₹60 per lot. While they charge 0.03% for Currency Futures, they charge ₹60 per lot for Currency Options.
Now, here is something interesting; the amount for the minimum Brokerage depends on the percentage of total transactions. Now, let us review some old information again. They charge ₹300 per annum for the AMC of the Demat accounts, whereas the Trading accounts are free to use, and the minimum Margin Money they want must be 75% Margin.
| Sushil Finance Brokerage Charges | |
| Here you will find details of brokerage levied by Sushil Finance on all segments | |
| What are the Equity Delivery Charges? | 0.35% |
| What are the Equity Intraday Charges? | 0.03% |
| How much brokerage charged for Commodity Trading? | NA |
| What is the brokerage on Equity Futures? | 0.03% |
| How much brokerage charged for Equity Options? | Rs.60 per lot |
| What is the brokerage on Currency Futures? | 0.03% |
| What is the brokerage on Currency Options? | Rs.60 per lot |
| How much is the Minimum Brokerage required? | Percentage of Transaction |
| What is the Demat AMC? | Rs.300 |
| How much is the Trading AMC? | Free |
| What is the Minimum Margin Required? | 75% Margin |
Does Sushil Finance levy any other charges apart from Brokerage?
The best way to start talking about the Sushil Finance charges is to discuss the Transaction fees they levy. It is 0.00286%, which is calculated based on the total Turnover. Then there is the STT fee, which is 0.0126%, also calculated based on the total Turnover.
One final fee, which is also calculated on total Turnover is the SEBI Turnover, where they charge 0.0002%. However, this doesn’t conclude the additional fees section that you need to pay. There is the Stamp Duty fee which we can’t tell you an exact figure as it varies from one state to another.
Meanwhile, what we can tell you firmly is the GST fee, which is 18%. However, GST is calculated over the total Brokerage fee plus the total Transaction fee amount. One important note which we like to tell you is all these additional fees are mandatory. However, these fees will not vary your ultimate profit margin that much as these are very nominal amounts.
| Sushil Finance Charges | |
| Get a deep understanding of all other charges levied by Sushil Finance | |
| How much are the Transaction Charges levied? | 0.00286% of Total Turnover |
| What are the STT charges? | Equity Delivery: 0.1% on both Buy and Sell Equity Intraday: 0.025% on the Sell Side *Equity Futures: 0.01% on Sell Side Equity Options: 0.05% on Sell Side(on Premium) Commodity Futures: 0.01% on the sell side (Non-Agri) Commodity Options: 0.05% on sell-side Currency F&O: No STT On Exercise transaction: 0.125% Right to entitlement: 0.05% on sell-side |
| What are the SEBI Turnover charges? | 0.00005% (Rs.5/Crore) |
| How much is the Stamp Duty levied? | (On buy side only) Delivery: 0.015%, Intraday: 0.002%, Equity Futures: 0.002%, Equity Options: 0.002%, and Currency F&O: 0.0001%.Commodity Futures: 0.002%, Commodity Options: 0.002% (MCX) |
| How are the GST charged? | 18% on (Brokerage + Transaction Charge + SEBI Fee)Get all charges of various stock brokers |
What is the Limit or Exposure offered by Sushil Finance?
In most cases, people are disappointed with Sushil Finance Exposure. It is really very shocking that they offer just up to 1x Trading Exposure for Equity Delivery. Even though they offer up to 5x Trading Exposure for Equity Intraday, the rest of them seem bleak.
For Equity Futures, they offer just up to 1x, while for Equity Options they offer up to 1x. The Sushil Finance Margin for Currency Futures also seems miserable with only up to 1x Trading Exposure, and so does the Commodity Trading with up to 1x. Finally, for Currency Options, they offer up to 1x Trading Exposure, which is in no way close to what other companies deliver.
| Sushil Finance Exposure or Leverage | |
| Here you will find the exposure or limit provided by Sushil Finance | |
| How much is the limit on Equity Delivery? | 1x |
| What is the limit on Equity Intraday? | Upto 5X |
| How much is the limit on Equity Futures? | 1x |
| What is the limit on Equity Options? | 1x |
| What is the exposure on Currency Futures? | 1x |
| How much is the leverage on Currency Options? | 1x |
| What is the limit on Commodity Trading? | 1x |
How to open Sushil Finance Demat & Trading Account?
In order to do stock trading, it is integral to have three accounts. First, the Demat account, second, the Trading account, and third, the Savings account. You have to figure out a way to open a Savings account with any reputed bank nearby. What we will discuss is the way to open the Demat and Trading accounts online. So, here are the steps:
- The first obvious step is to click on the “Open Demat Account” button below.
- Then, you should get an online form that you must fill up with appropriate information and submit.
- Then you need to wait till one of their representatives gives you a call. Meanwhile, you must also tell them to open a Sushil Finance Trading account as well, which they will surely oblige.
- Then, they will ask you for all the necessary documents like your Identification proof, your Address proof, a Passport-sized Photo, and other relevant documents to complete the KYC.
- After they verify your KYC, they will provide you with the login details so that you can access your Demat and Trading account. You can start trading after that.
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What are the various Trading Platforms provided by Sushil Finance?
When it comes to trading platforms, Sushil Finance delivers services which far better than their competitors. So, here are the three platforms they offer:
Sushil Finance Trading Terminal
By Trading Terminal, they are referring to their Desktop Application. The good thing is the platform is available for both Windows and Mac users. The platform is built-in with all the basic and advanced features that a trader seeks to do seamless stock trading.
Sushil Finance Web Trading Platform
By Web Trading platform, they want to refer to their web browser platform. Just like the Desktop application, this platform comes with all the essential features and functionalities. You can use Google Chrome, Mozilla Firefox, or even use Internet Explorer to access your account. The only drawback of this platform is the lack of mobile responsiveness features. So, you will not be able to access your account using a mobile phone’s web browser.
Sushil Finance Mobile Trading App
Now, we all understand what a Mobile app trading platform is. It is a mobile app that is available on both Android and iOS. However, it is not available in backdated operating systems like Windows or Symbian. Like the other two platforms, this one is also integrated with all the features required to perform seamless stock trading.
| Sushil Finance Trading Platforms | |
| Here you will find all the important trading platforms available with Sushil Finance | |
| Do they have Trading Terminals for Windows? | Yes |
| Do they have Trading Terminals for Mac? | Yes |
| Are they providing Web Trading Platform? | Yes |
| Do they have Mobile Web Platform? | No |
| Does this broker provide Mobile Trading App for Android? | Yes |
| Does this broker provide Mobile Trading App for iOS? | Yes |
| Are they having Mobile App for Windows OS? | No |
| Do they have Mobile Trading App for Other OS? | No |
What are the features available in Sushil Finance Trading Applications?
Here are the various Trading Platform Features –
Sushil Finance Trading Terminal Features
The Sushil Finance Trading Terminal or the Desktop application comes with the Easy Installation feature, to begin with. It also has necessary features like Real-time Updates, Portfolio Details, and Online MF Buy.
Sushil Finance Web Trading Platform Features
Similarly, the Sushil Finance Web Trading platform, or what we know better as the browser version platform also has the same features. The likes of News Flash, Global Indices, and Interactive Chartings are all available.
Sushil Finance Mobile Trading App Features
Sushil Finance Trading App or we better understand it as the Mobile App also contains all these features and functionalities in-built. It fetches live markets data and has necessary Email Alerts to keep the clients posted. However, in all these platforms, a few essential features are missing; such as Research Reports, Stock Tips, Personalized Advisory, and SMS Alerts.
| Sushil Finance Trading Application Features | |
| Here you will find various features available in Trading Platforms provided by Sushil Finance | |
| Are these platforms capable of Real-time Updates? | Yes |
| Do these Applications provide Portfolio Details? | Yes |
| Is this software providing Online MF Buy? | Yes |
| Do these platforms have News Flash? | Yes |
| Are these platforms providing Research Reports? | No |
| Are these platforms Easy to Install & use? | Yes |
| Do these Apps have Global Indices? | Yes |
| Are these platforms having Stock Tips? | No |
| Does this software provide Personalized Advisory? | No |
| Are these platforms capable of Interactive charting? | Yes |
| Do these Apps provide Live Markets data? | Yes |
| Do they provide SMS Alerts? | No |
| Are they providing Email Alerts? | Yes |
| Do these platforms have a Multi-Account Management solution? | No |
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What are the various Products provided by Sushil Finance?
It is time to discuss the Sushil Finance products in detail. Let’s start with the obvious one – Equity Trading, followed by Currency Trading. One of the crucial products which are missing is Commodity Trading.
They also provide Options trading, Futures trading. Mutual Fund is in their product list, which is indeed a bonus, as there are a lot of stockbroking companies who avoid the service. SIP is yet another interesting choice of product that they provide. However, services like Forex, Insurance, and Banking are all unavailable from the list of products they provide to their clients.
| Sushil Finance Products | |
| Here are the various products provided by them | |
| Does the broker allow Equity Trading? | Yes |
| Does the broker allow Commodity Trading? | No |
| Do they have Currency Trading products available? | Yes |
| Do they provide Options trading? | Yes |
| Are the clients allowed to trade in Futures? | Yes |
| Do they have Mutual Funds as a product? | Yes |
| Does the broker allow Forex trading? | No |
| Does the broker have Banking products? | No |
| Is SIP allowed by the broker? | Yes |
| Do they have Insurance as a Product? | No |
What are the various Services offered by Sushil Finance?
After knowing the product line, it is time to discuss Sushil Finance Services. Let us do a quick recap on the Demat and Trading account that they definitely offer. However, they don’t provide a 3-in-1 account that comprises a Demat account, a Trading account, and a Savings account.
They are competent in delivering services like Intraday, IPO, and Stock Recommendations. At the same time, they don’t provide services like Robo Advisory and PMS. For those who don’t know that Sushil Finance is not a Trading Institution of its own.
Finally, they offer up to 5x Trading Exposure, which we believe is something they should improve as soon as possible.
| Sushil Finance Services | |
| Check out the various services provided by them | |
| Does the broking house provide Demat Services? | Yes |
| Does the broking house provide Trading Services? | Yes |
| Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C? | No |
| Do they provide Intraday Services? | Yes |
| Are they offering IPO Services to the client? | Yes |
| Do they have Stock Recommendations available? | Yes |
| Are they providing tools for Robo Advisory? | No |
| Does the broker provide PMS? | No |
| Do they have Trading Institution available? | No |
| What is the Trading Exposure this broker provides? | Upto 5X |
Does Sushil Finance provide Research & Advisory to its clients?
We will begin the discussion with the Sushil Finance Research services. They provide Fundamental Reports and Research Reports to their clients to keep them up to date with the stock market.
However, a few critical services are missing here as well – Company Reports, Annual Reports, and Company Stock Reviews. They compensate for that with quality IPO Reports, Daily Market Reviews, and Weekly Reports.
However, no Monthly Reports amidst that. Now, let us know about Sushil Finance Tips. They provide quality Stock Tips which are free and suggest Top Picks Stocks as well. The Sushil Finance Advisory services are decent enough with two main services – Offline Advisory and Relationship Manager.
| Sushil Finance Research, Advisory & Stock Tips | |
| Here are the various research activities done by them | |
| Does the broker share Fundamental Reports? | Yes |
| Does the broker share Research Reports? | Yes |
| Do they provide Company Reports to their clients? | No |
| Are they analyzing the Annual Reports of Companies? | No |
| Do they share Company Stock Reviews? | No |
| Are they sharing Free Stock Tips with their clients? | Yes |
| Do they analyze & share IPO Reports? | Yes |
| Does the broking company provide Top Picks? | Yes |
| Are they sharing Daily Market Review? | Yes |
| Do they have Monthly Reports? | No |
| Does the broker provide Weekly Reports? | Yes |
| Are they having Offline Advisory? | Yes |
| Do they provide Relationship Managers to clients? | Yes |
What are the Customer Care details of Sushil Finance?
To start talking about the Sushil Finance customer care service, we should first know that they operate stock trading activities from 555 branches, which are spread all around India. They offer customer care service via Dedicated Dealers.
The center of attention is their 24×7 support service, which honestly, very few stock trading companies deliver. They provide services to both Offline and Online users. Meanwhile, there are grievances about the unavailability of Email Support and Chat Support among the clients.
| Sushil Finance Customer Support | |
| Let’s have a better understanding of Customer Care Service | |
| Are they providing Dedicated dealers to their clients? | Yes |
| Do they allow Offline Trading? | Yes |
| Do they have facilities for Online Trading? | Yes |
| Are they providing 24*7 Support? | Yes |
| Does this broker provide Email Support? | No |
| Is this broker having Chat Support? | No |
| How many Branches the stock broker has? | 555 |
Are there any Complaints filed against Sushil Finance by their clients?
One of the compelling factors about Sushil Finance is how gracefully they have managed company operations. One of the prime examples is the Sushil Finance complaints that have been filed. We have discussed that the company is over 37 years old.
So, the fact that only 22 charges have been lodged against them from the BSE is really incredible. They also follow it up with just 29 complaints from the NSE in all these years. What’s more fascinating is they have resolved 18 out of 22 issues and 22 out of 29 issues prominently. This proves that their clients trust the services they offer and are mostly satisfied.
| Complaints | |
| Here you will learn about the Complaints lodged against them | |
| What is the total number of Complaints Lodged in BSE? | 22 |
| How many of these complaints have been Resolved in BSE? | 18 |
| What is the total number of Complaints Lodged in NSE? | 29 |
| How many of these complaints have been Resolved in NSE? | 22 |
What are the advantages & benefits of Sushil Finance Trading accounts?
If you are seriously considering opening a Sushil Finance Trading account, it is advisable to know and understand the pros and cons. Let us discuss the pros first.
The Trading platforms are rumored to be one of the best in the industry and the overall fee structure is mostly within the budget. However, their overall experience is what makes them so accessible and reliable.
Now, about their cons; the Trading Exposure they offer is the biggest disappointment, and probably they should include Commodity trading as well, which is currently missing.
What are the Sushil Finance Review & Ratings as per their Customer?
Finally, it is time to discuss the Sushil Finance review system. For their Research & Broking Advisory, they have got a deserving 6.1 out of 10, which we consider ‘ok’. Moving on to the Brokerage & other charges, they have received 6.2 out of 10. We too believe it is deserving as the rates are neither high nor too low.
Now, about their Products & Services, they have got 6.4 out of 10, which is a very good score considering most of their rival companies are providing. Then there are the Trading Platforms; they have got 6.1 out of 10, which we believe is an excellent score.
Their overall experience is their greatest asset, and no doubt people love it. They have rated 6.5 out of 10. So, with all things considered, they have scored 6.3 out of 10, which is believed is a score a trustworthy stockbroking company that you should totally be associated with.
| Ratings & Reviews | |
| We are looking at Companies’ Ratings on various parameters | |
| Stock Market Research & Broking Advisory | 6.1/10 |
| Brokerage & other Charges like – Turnover, Transaction Charges, etc. | 6.2/10 |
| Types of Products & Services the Brand provides | 6.4/10 |
| Performance Mobile App, Trading Terminal & Web Trading Platform | 6.1/10 |
| Experience in the Broking Business | 6.5/10 |
| Total Avg. Rating of Broking House | 6.3/10 |
| Star Rating of given to Stock Broker | ★★★☆☆ |
| Number of People Contributed to These Ratings | 149 |
The Conclusion
We have mentioned all the major points in this article. So, if you raise a question of whether or not you should be associated with them, we believe you should definitely consider them with a positive mindset. They are experienced, and most of the time, they live up to their commitments and expectations.
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