HDFC Securities: Overview
HDFC Securities Ltd, a subsidiary of HDFC Bank. It basically means that you can get a 3-in-1 account service that combines HDFC Securities Trading Account with the HDFC Securities Demat Account, and HDFC Bank account resulting in an amazing trading experience, and above that it also provides a free mutual fund account. It is one of the largest full-service brokers in India with more than 20 lakh customers, including both retail and institutional clients.
HDFC Securities : Overview
HDFC Securites, due to its large customer base, happens to be one of the leading depository participants with both CDSL and NSDL; more than 2.03 million demat accounts with a comprehensive network that has more than 3500 service branches. They have more than 270 branches across 185, catering investment needs of a gigantic diversified customer base including both retail and institutional investors.
HDFC Securities is a registered member of BSE, NSE, IRDA, PFRDA, AMFI, and MCX, in essence it offers all trading services including equity, derivatives, fixed deposits, mutual funds, insurance, IPOs, bonds, currency derivatives, NCDs, ETF, and NPS.
Since HDFC Securities (HDFCs1.ec) is a full-service broker, it has a research team that provides extensive research reports free from biases; assisting clients to make investment decisions backed by logic and rationale. It also offers loans like home loans, personal loans, vehicle loans, education loans and loans against securities.
HDFC Securities’ services have often been at the receiving end of appraisal and several awards like India’s Most Attractive Brands Award, India’s Most Ethical Company, Winner of Digital Excellence in insurance and Financial Services, Digital Industry Awards and several others.
The account opening process is quite simple and similar to other stockbrokers. You can open the following types of HDFC Securities account:
Types of Accounts
Anyone, including non-residents except US and Canada can open an account with HDFC securities. To avail the services, however, you would have to open a 3-in-1 account.
HDFC Securities Demat Account:
This form of account is to keep securities in dematerialized or electronic format. There is no demat account opening fee but HDFC demat account maintenance charges worth Rs. 750 are levied from the second year onwards.
HDFC Securities Trading Account:
This type of account facilitates trade in multiple assets like equity, currency, commodity, F&O and other asset classes. There is no account maintenance charge but an account opening fee worth Rs. 999 only.
Mutual Fund Account:
This is a free mutual fund account with HDFC Securities on Digify where you can invest in a plethora of schemes via different mediums whether SIP, lumpsum, STP or SWP. It also has MF return calculator, SIP calculator and SIP Reckoner.
HDFC NRI Account:
Non-residents, except US and Canada, can open trading account with HDFC Securities. This is also 3-in-1 account services, with facilities like NRI trading account, NRI demat account, and NRI bank account.
HDFC Commodity Account:
HDFC Securities also offers commodity account to trade in commodities.
HDFC Securities offers the option to trade across all platforms including web, mobile and even telephonic broker services.
HDFC Securities Platforms and Services
- HDFC Securities Website:
HDFC’s Web-based Trading platform, where you can invest in all types of securities. - ProTerminal:
This is for general traders, retail investors, HDFC’s stock Analysis and trading terminal. - Mobile Trading Application
- Blink: This is for advanced traders, a downloadable application for desktop for real time movement of stocks and high speed execution.
- Smallcase: A pre-built basket of ideas and investments, offered across various brokers like Zerodha, which works like an index fund. This is a third party application.
- Arya: HDFC Securities’ virtual voice enabled investing tool, you can place trades and get updates through voice command.
- Digify: HDFC Securities’ mutual funds platform, where you can get services like SIP, STP, etc.
- Over and above this, HDFC Securities also offers an option to call and trade.
HDFC Securities: Account Opening Process
The process of opening a demat and trading account with HDFC securities is relatively straightforward. Users can head to the website, fill in the details of opening the account, submit the documents and wait for their account to get activated. It’s that simple.
HDFC securities provide a unique 3-in-1 account where your demat, trading and savings accounts are integrated into one account. Moreover, all the trading activities can be executed through its trading tools through its online platform. However, the account opening procedure is simple and provided in detail below.
Opening a Demat and Trading Account with HDFC securities
- Head to the stockbroker’s official website.
- Once it loads, then click on the open demat account. You can choose a 3-in-1 account as well, which is free of cost to open.
- Choosing the type of account, you require, fill in the details prompted. Felids such as name, number, email address, city and more will be asked for creating an account on the site.
- Once successfully created, then another application will have to be filled. It’s for the demat and trading account. Fill in all the details asked and verify all the information entered.
- Once entered, then you will have to give the prompted documents. The soft copy of a passport size photograph, address proof could be Aadhar card or passport, PAN card copy and driver’s license would be asked to be uploaded.
- After uploading them, you will have to confirm that you are uploading the right documents.
- Once everything is done, and the in-person verification process will be carried out. It will be through a video session, and an e-signature will be required.
- After all the processes are completed, your demat account should be created within 5 minutes while taking 15 minutes for your trading account.
- There are no requirements for any physical documents, and the above-given steps are for opening both demat and trading account.
HDFC Securities Account Review
HDFC securities is a unique stockbroker that provides 3-in-1 accounts making trading quite a breeze. But it doesn’t allow traders and investors to trade in the commodity segments and has a higher brokerage fee which might be a setback for many. Other than this, it’s a great stockbroker providing regular features for trading and investing ventures.
HDFC Securities: Account Opening Charges
| Charge Type | Amount |
|---|---|
| Trading Account Opening Charges | ₹999 |
| Demat Account Opening Charges | ₹0 |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹750 |
HDFC Securities: Commodity Trading
The stockbroker does provide facilities to trade in the commodity segment of the stock market. It implies a 20 rupees brokerage charge on every trade executed in the segment.
HDFC Securities is a Stockbroker that offers users, traders, and investors to carry out trades in the stock market through the NSE and BSE. The segment you can trade-in is stock, shares, commodity, currency, IPO investments, futures and more. Commodity trading was incorporated into the stockbroker’s itinerary back in January 2019.
Brokerage fees of Commodity Trading
Despite having a generally high brokerage fee on other trading types, the commodity trading fees are remarkably lower. Its capped at 20 rupees per trade (but still expensive when compared to other stock broker brokerage fees in the segment). The prices are tentative change later based on the demand and the account chosen to trade in the stock market.
Advantages of Commodity Trading with HDFC Securities
- The stockbrokers offer commodity trading services from 9 in the morning to 11 in the night.
- The overall commodity trading trades entirely on the margins, which is as low as 4%.
- The tool provided by the stockbroker is compelling and advance in every possible way.
- The brokerage fee of 20 rupees is capped for all types of trades executed in commodity trading. It includes direct trading, call and trade and even executing intraday shares the next day.
Disadvantages of Commodity Trading with HDFC Securities
- Commodity trading can be availed for a brokerage fee of 20 rupees. It’s still higher than what the competition offers.
- As the segment has been incorporated into the stockbrokers offering recently, the research given around the field is not that trustworthy and could be neglected.
HDFC Securities Review
HDFC Securities are undoubtedly a great stockbroker offering explicit trading tools for traders and investors to have a unique experience in trading. However, the high brokerage fees can be a let-down for a few looking to opt for using the online broker’s services.
HDFC Securities: Currency Trading
The stockbroker does provide options to trade in the currency segment of the stock market. It has a brokerage fee of about 20 rupees per contract and allows the trading features to be executed through several trading tools offered by HDFC Securities. All of them are free to use once you become a user of HDFC Securities.
HDFC Securities is an online stock broker that allows users to trade in the segments of equity, stocks, shares, currency, commodities, and more through the NSE, BSE, MCX, etc.; the stockbroker offers a 3-in-1 account there your Demat, trading, and saving accounts are linked together. Users can easily invest in the segment of IPO as well.
Brokerage fee charged for Currency Trading
The brokerage charged for currency trading through the stockbroker is 0.05% of the total trade executed. However, for currency options, it can vary based on the account or plan chosen for trading. There are multiple trading tools where users can choose their online website tool for trading and the software compatibility.
Advantages of Currency Trading with HDFC Securities
- Provides excellent trading tools for trading in the currency segment.
- There are easy ways to track your portfolio and investments.
- Live market data and tips for investment endeavours.
- Monitoring of stock and shares gets more comfortable, all thanks to its unique tracking features.
- Greater margin exposure and leverage of about 5-7 times.
Disadvantages of currency trading with HDFC Securities
- There is no availability of a brokerage calculator for adequate returns on investments.
- The provision of getting a tailor-made report on the stock market isn’t available.
- High brokerage charge with no minimum charge but a standard one.
HDFC Securities
The stockbroker does provide extensive investment opportunities to users looking to make suitable investments in the stock market segments. But the high brokerage fee and the unavailability of a brokerage calculator could be a deal-breaker for a few. What do you think? Feel free to discuss.