HDFC Sky is the only bank-based discount stock broker in India. Free demat and trading account opening, Rs 20/order maximum brokerage charges across all segments, simple yet elegant user interface enabled HDFC Sky mobile app, and free research & advisory services make HDFC Sky a recommended broker to open an account with.
HDFC Sky is a new-age discount broker launched by HDFC Securities. Multiple trading and investing solutions, free account opening, a maximum Rs 20 flat brokerage fee, and a next-age HDFC SKY trading app with incredible features provide an amazing experience to every trader and investor like you! Want to open an account with HDFC Sky, if yes, read the complete genuine HDFC Sky review 2023 to the end.
Noticing the growing demand for discount broking apps in India, HDFC Securities also took a step ahead by introducing its discount broking platform, HDFC SKY. Being a registered trading member of BSE, NSE, MCX, and MSEI, HDFC Sky is a one-stop-shop for all your trading and investing needs be it Indian equities, ETFs, equity derivatives commodities, currencies, mutual funds, US stocks and fixed-income instruments.
Any resident can open a free demat account with HDFC Sky at zero account opening fee. Also, it charges a competitive flat brokerage fee of Rs 20 per executed order on all intraday and delivery trades. Thus, you end up paying just Rs 20 fixed brokerage irrespective of the amount you trade.
Its discount broking app, HDFC Sky app is an all-in-one app to trade or invest across different asset classes or segments. It is loaded with tons of features like smart dashboard, portfolio basket, quick trade execution, and a lot more!
Over and above the trading and investing features, it also provides you access to 23 years of powerful research by HDFC Securities and that too absolutely free of cost. Leading discount stockbrokers i.e., Zerodha, and Groww do not offer research and advisory services.
Current promotion offer from Zerodha for InvestorGain Visitors:
HDFC Sky has a transparent low-cost brokerage structure with trading in all segments is priced at Rs 20 flat brokerage fee.
Equity intraday, delivery, equity futures, commodity futures, and currency futures segment are charged at a lower of Rs 20 or 0.01% fee while trading in options are charged at flat Rs 20/order.
Thus, the maximum brokerage you end up paying is Rs 20 per order in any segment. The charges looks highly competitive with brokerage charged by top discount brokers like Zerodha, 5paisa, Upstox, etc.
Investment in mutual funds is free at zero brokerage.
|Trading Account Opening Charges:||Free|
|Trading Account AMC:||Free|
|Demat Account Opening Charges:||Free|
|Demat Account AMC:||Rs 240 PA (Free for 1st year)|
Here we are comparing HDFC Sky with its 5 close competitors, who are currently market leader in brokerage industry.
|Broker||HDFC Sky||5paisa||Zerodha||Upstox||Paytm Money|
|Service Type||Discount Broker||Discount Broker||Discount Broker||Discount Broker||Discount Broker|
|Brokerage Range||Rs 20||Rs 20||Rs 20||Rs 20||Rs 20|
|Account Type||3 in 1||2 in 1||3 in 1||3 in 1||2 in 1|
|Equity Delivery||0.1% or Rs 20 whichever is lower||Flat Fee Rs 20||Free||2.5% or Rs 20 whichever is lower||2.5% or Rs 20 whichever is lower|
|Equity Intraday||0.1% or Rs 20 whichever is lower||Flat Fee Rs 20||0.03% or Rs 20 whichever is lower||0.05% or Rs 20 whichever is lower||0.05% or Rs 20 whichever is lower|
|Equity Futures||0.1% or Rs 20 whichever is lower||Flat Fee Rs 20||0.03% or Rs 20 whichever is lower||0.05% or Rs 20 whichever is lower||0.02% or Rs 20 whichever is lower|
|Equity Options||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20|
|Commodity||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20||NA|
|Currency Futures||0.1% or Rs 20 whichever is lower||Flat Fee Rs 20||0.03% or Rs 20 whichever is lower||0.05% or Rs 20 whichever is lower||NA|
|Currency Options||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20||Flat Fee Rs 20||NA|
Any Indian resident can open a demat and trading account digitally with HDFC Sky. However, it does not offer NRI trading thus, NRIs cannot trade with HDFC Sky. Here’s presenting a quick review of HDFC Sky 2-in-1 account (Trading + demat) account;
A trading account is opened to allow customers to place and execute buy and sell orders in the desired segment. The HDFC Sky trading account allows you to trade in equity intraday, delivery, equity F&O, currencies, commodities, IPOs, and mutual fund schemes (MF).
You can invest in 3,500+ stocks and 100+ ETFs. HDFC Sky platform also offers global investment to invest in US based stocks and ETFs.
All you need to do to start trading with HDFC Sky is transfer funds to your trading account, add the scrip to the watchlist, and place buy/sell order.
You can add money to your trading account through UPI or net banking. Fund transfer processed through UPI gateway is free.
You no need to maintain minimum balance in your HDFC Sky account for trading and investing.
HDFC Sky is a DP with both CDSL and NSDL to allow customers to open a demat account with the broker. All securities you have invested in like shares/stocks, IPO, mutual funds, are safely stored or credited to the HDFC Sky Demat account.
You can check all your investment or holdings in the Demat account. The demat account provides digital safety and security to your investment.
If you have opened a trading and demat account with HDFC Sky, you will get direct access to mutual fund investment.
The broker allows no brokerage or commission-free mutual fund investment in over 2000 schemes from top 29 asset management companies at no hassle. You can invest via automate your SIP investment or invest lumpsum money in one go.
HDFC Sky app also allows you to compare upto 5 mutual funds schemes, get expert recommendations and suggestions for the best mutual funds, and track external mutual funds.
Open an instant account in HDFC Sky in a paperless manner and that too for free. Here are the steps involved in HDFC Sky Demat account opening process;
Trade or invest with HDFC Sky using all-in-one HDFC Sky mobile trading app or website. Both the platforms are offered for free to use but the broker does not have an installable desktop trading terminal. Take a quick glance at the top-features offered by HDFC Sky trading platforms.
HDFC Sky has an all-new feature loaded HDFC Sky mobile app to provide ultimate investing experience. Trade at your fingertips in Indian stocks, F&O, commodities, currencies, mutual funds, and US stocks using HDFC Sky app.
Crystal clear interface with ease to use functionality, extensive fundamental and technical research, option chain, real-time market statistics, news & events, etc. are the features available on the HDFC Sky discount broking app.
A trader can also place advance complex orders like bracket order (BO), cover order (CO), One cancel others (OCO), and basket orders using Kart feature.
Download HDFC Sky app on Android and iOS smartphones and start trading at just a click.
Log in to the HDFC Sky web platform using your client ID and password. The browser-compatible web platform is compatible to use on any browser like Chrome, Firefox, Safari, etc.
To trade using HDFC Sky website, you no need to download any software or application on your system.
For detail review of mobile app and download please visit HDFC Sky Trading Platform Review.
Want to know why to trade with HDFC Sky, here are the promising reasons;
Get online support from HDFC Sky by calling at the support desk or simply write an email to the customer care email address. HDFC Sky customer care representatives are available from Monday to Saturday, 9:00 AM – 5:00 PM.
You can also get an answer to your query on HDFC Sky Support center where many FAQs are available to answer common customer queries.
On conclusive thoughts, HDFC Sky stands as a competitive discount brokerage house with Rs 20 maximum pricing model that is in line with Zerodha, Groww, Upstox, etc. Whether you are an equity trader, F&O trader, or commodity trader, you can choose to trade or invest on BSE, NSE, and MCX with HDFC Sky at a maximum Rs 20 brokerage. Also, you can invest in US companies stocks to diversify your investment.
In addition, thematic investing, free access to research reports, top-rated mutual fund schemes, etc. are the value-added features offered by HDFC Sky. You can trade using HDFC Sky app or trading website at your convenience.
Last updated on: 2023-11-09
Yes, HDFC Sky is a SEBI registered discount stock broker. Also, it is a BSE, NSE, and MCX registered trading member and a depository participant with CDSL and NSDL.
The broker offers multiple investment options in equity, equity derivatives, commodities, currencies, and mutual funds.
Yes, HDFC Sky app is a safe and secure mobile trading app as all private and confidential customer data are protected by 256 AES encryption standard.
In addition, the app provides fingerprint authentication-based biometric login access to users to prevent any unauthorized access.
Yes, HDFC Sky app is not just a next-gen mobile trading app but also has intuitive UI/UX design to make the platform easy to use for everyone.
Whether you are a beginner or expert, you can trade or invest in stocks, equity F&O, currencies, and commodities using the HDFC Sky app.
New-age traders or investors can also use daily trading tips or buy/sell recommendations, technical and fundamental research reports from HDFC Securities to invest in the right stock.
As a beginner, you can also start your stock market investment journey with mutual fund investment. HDFC Sky mobile app allows you to invest in over 2,000 mutual fund schemes from 29+ fund houses. You can invest via SIP route or put money as lump sum.
Follow these steps to trade or invest in stocks with HDFC Sky app;
HDFC Sky is integrated to its backoffice where you can check complete portfolio details of investment held in equity stocks, mutual funds, and US stocks. Also, you will get multiple reports like client ledger, margin statement, etc.
The page will redirect you to the HDFC Sky Backoffice portal
HDFC Sky app users will get multiple stock data including both fundamental and technical details.
The app provides company market cap, PE ratio, PB ratio, PEG ratio, dividend yield, earning yield, etc. It also provides fundamental history like last 5 years revenues, P&L, shareholding patterns, SWOT (Strengths, weaknesses, Opportunities, and Threats) etc.
However, the technical data includes RSI, 30 day SMA, industry PE, and data for technical analysis. It provides 5 level market depth along with open, close, low, and high stock prices. You can also check volume, daily average trade price, and 52 week low and high prices.
There are two ways to transfer your demat account holdings from HDFC Securities to HDFC Sky account via submitting physical Demat closure cum transfer form. Once submitted, your demat account with HDFC securities will closed and securities or investment will be transferred or credited to your HDFC Sky Demat account.
Basket order is a special order used to place multiple orders or buy or sell a number of securities at just a click. Instead of placing multiple orders, basket order provides the facility to place and execute multiple orders in one go.
Steps to place basket order on HDFC Sky app;
HDFC Sky discount broker allows clients to place a GTT order on app or web.
Good till triggered, as its name, the order gets placed on exchange when the stock reaches the target price. The best part of the GTT order is it does not require to track market every minute.
At HDFC Sky, you can place a GTT buy order and GTT sell order in the delivery segment. And, the GTT order remains valid for a year.
Steps to place GTT order in HDFC Sky;
Yes, HDFC Sky offers bracket order (BO) facility in app and website.
Bracket order is an advanced intraday order to place a buy or sell order along with a target and stop-loss order all together. Intraday traders with a clear entry point with a set price target and stop loss price in mind should place a bracket order to place all orders in one single order.
Steps to place a bracket order in HDFC Sky app;
Yes, you can invest in ETFs with HDFC Sky the same way as you invest in stocks.
ETFs (Exchange traded funds) are the equity instruments that invest in same basket of companies of an index, therefore also known as Index funds.
ETF Intraday and ETF delivery trades with HDFC sky are charged at a brokerage of lower of Rs 20 or 0.01%.
Yes, HDFC Sky is a discount broker in India. The fintech platform allows you to trade or invest in equity intraday, delivery, equity derivatives, currency F&O, and commodity F&O.
Customers can also apply for IPOs, invest in mutual funds, and shares of US companies.
Being a part of HDFC Securities, HDFC Sky also provides access to stocks fundamental and technical research and experts investment recommendations to invest in mutual funds.
HDFC Securities launched HDFC Sky to provide the discount broking platform to all traders and investors to trade at Rs 20 price slab. The brokerage charged is similar to that of other platforms like Zerodha, Groww, etc.
However, HDFC Securities is a full-service stockbroker in India. Unlike HDFC Sec which allow only HDFC bank based customers to open a trading and demat accounts. However, HDFC Sky is open to all whether you have a bank account with HDFC or any other bank in India.
Access to HDFC Securities in-house research to all HDFC Sky customers is the USP that makes the platform unique from other top discount brokers like Groww, Zerodha, 5paisa.
Further, MTF at just 12% whereas other competitors are offering margin trading funding at 18% to 21%.
Yes, HDFC Sky app is free for all HDFC sky customers. And, there are no charges to use the mobile trading platform.
Traders and investors can use the HDFC Sky app to invest in equities, mutual funds, and US stocks, and trade in intraday and derivatives segment at Rs 20 flat brokerage.
Available margin is the fund balance in your HDFC Sky trading account. It is the maximum funds available to use to place buy and sell orders on a particular trading day.
HDFC Sky through partnership with Stockal provides access to US stock market.
Invest in overseas companies at just your fingertips using HDFC Sky app. You can invest in top blue-chip US companies like Netflix, Amazon, Apple, Tesla, Starbucks, Facebook, Nike, Mcdonald, etc.
All you have to do is open a global investment account with HDFC Sky, search for any US stock, and place buy/sell order.
The fractional investing allows investors to purchase and sell even less than a share. The app also provides a basket of stocks and ETFs crafted by professional managers or experts to help you select the right stock for investment.
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