SBI Securities Stock Trading, Demat, Brokerage and Reviews
SBICAP Securities Ltd (SSL) is a 100% subsidiary of SBI Capital Markets Ltd. Services offered by SBICAP includes Institution Equity, Retail Equity, Derivatives, Broking, Depository Participant services and E-Broking. They also provide online trading product to investors & traders.
The portal allows both Resident Indians and Non Resident Indians (NRIs) to invest in Equity, Derivatives, Mutual Funds, IPOs via the online channel. SSL's online trading platform is powered by a robust trading engine. SSL is registered with the Securities Exchange Board of India. SBICAP Securities (SSL) provides Share Trading with eZ-trade@sbi. This links all your three accounts i.e. Bank Account, Demat Account and Trading Account together.
For online trading with SBICAP Securities, investor has to open an account. Following are the ways to open an account with SBICAP Securities:
Call them at phone number provided below and ask that you want to open an account with them.
Call on Toll free number: 1800-22-3345 to speak to a Customer Service executive
Land Line: 022-61536900 / 24231300
Visit one of their branches. SBICAP Securities has a huge network all over India. Click on https://www.sbicapsec.com/BranchNetwork.aspx this link to find out your nearest branch. Just select the place near you and you'll find a manager to assist you there.
SBI Demat is the worst compared to other service providers like ICICI. You cannot login in other platform like Chrome or iOS or Android. Such is the foolish design by the SBI intellectuals. Hats off to these smart guys to develop a non-smart and idiotic Demat trading web.
It would be the biggest mistake if anyone will open account Demat/trading account with SBI.
Telling my story, I got account opened after 2-3 months of initiating the process. I just got a Demat booklet and letter stating my demat account no.
For three years I never used it, no one also contacted me. SBI guys do not bother about their customer and their grievances.
I wanted to close the account as every year Aproxx Rs 300 was deducted from my account. I realized that closure activity is even longer and painful than account opening activity.
There is no centralized system in SBI, DeMat services guy do not know about trading account and vice versa. There is no centralized contact no. Every time you will call on their toll free no. everyone will tell some different story for closure process.
Finally one day I went to nearest trading branch in Gurgaon to close the account, they gut their told me that now SBI and SBI cap sec are two different entities and my account is with SBI, so I have to go to SBI only.
It has now become a headache for me.
17.1. SANTOSH Feb 19, 2014 6:49:23 AM IST |
It is true. All other subsideries of SBI like SBICAP,SBILIFE,SBI MF,SBI GEN providing worst service. They all depends on SBI. iNDIVIDUALLY THEY NOT PROVIDING SERVICE OR QUALITY OF SERVICE IS WORST. ONLY SBI IS BEST. IT PROVIDE BEST SERVICE. SUBSIDERIES TAKING ADVANTAGE.
Very high brokerage. They are charging on Rs-0.5 per share, is more dangerous, for example If you purchase a share of 1/- value, 10,000 to invest Rs 10,000/- they are charging 650/- for purchasing and 650/- for selling total Rs -1300/-, and they are collecting separate transaction charges by sending bills and deducting directly from saving bank account. It is worst
they increased the charges without taking the consent of the customer and very oppurtunistic - when the market is high they increased the trading rate and minimum charges on sale 600% and that too charged on daily basis and collected on daily basis The advisor never informed about this. Not good at all for small investor and daily trader
Brokerage - Very Poor Account Maintenance Fees - Average Website Usability - Very Poor Customer Service - Very Poor Overall Experience - Very Poor
6. Jadhav Datta Feb 19, 2013 3:43:57 PM IST | Reply
Demant account opening request
5. K. L Chauhan Jan 07, 2013 4:39:11 PM IST | Reply
i have been trading thru icici direct since 2003. Recenlty, I decided to open another trading account and opted for SBICAPSEC as I already have an account with SBI. And the experience has been pathetic.
In 1st week of Oct''12, I applied thru their online portal. For 4 weeks no one called. I was planning to go with another broker when one fine day their executive called me to fix an appointment. On 10th Nov, he collected the documents and promised that account will be opened in 2 weeks. Again I did not hear from them for 4 weeks ... When i called their customer care, they had no clue of my application status and suggested to visit the city main branch. On visiting the branch, the executive informed that my application has been processed that very day and I should receive account details by next day (12th Dec). I received the details but again their was no welcome kit, no instructions on how to login, how to trade... nothing... I was so frustated... finally, after 2 hrs of hit and trials, I could login into the account... but to my surprise, IPO and MF links were disabled ( and this was the time when CARE IPO was on).. called up their CC who informed that IPO link will be enabled in 2-4 weeks time. I then tried to add certain scrips in wastch list section but could not... their technical executive spent 2 hrs on phone to solve the issue but finally gave up saying that she is just a novice and will ask the expert to call later.. UI sucks big time... research reports were below par ... In trading, speed is everything ... had I applied for an hdfcsec or axisdirect in oct''12, I am sure I would not have missed the CARE IPO application... that''s a direct (950-750)*20 = 4000 INR loss...
Having already experienced ICICI direct, i would NOT recommend SBICAPSEC to anyone... just not worth it...
First of all, they took almost two months to open the 3-in-1 trading account (with savings bank account already existing). No banking account internet banking userid/pw, trading account userid/pw received for over a year. Only demat account vouchers book received. I find none to attend to demat/trading account customers and resolve their issues or handle demat requests in my banking branch at Masoodpur, New Delhi-70. In spite of repeated requests through customercare online over last three months, internet banking userid/pw needed for creating lien on funds/securiies nor received till date. Userid and login/trading pw supplied after two month still not able to open the trading account. Initial plus two years maintenance charges deducted from account so for with zero service provided to me. Only auto-computer generated acknowlege of complaint was found to be working with no follow up action to redress the complaints. Though a saving account customer of SBI for last 40 plus years, I have found banking services and systems of SBI highly deficient, many charges and penalities levied by their system unjustified and illegal as well as most of its staff unconcerned about customer care, inefficient and many a times callous,too, even at the main head office New Delhi branch. Too sluggish in solving customer probles, take months and year compared to just hours, day or a few days of private banks. So I had already reduced my operations with SBI to bare minimum. They have copied only the (higher charges) rate structure of private banks, but staff and services remain the same apathetic - public/ govt sector cult: maximise personal advatages, job & future security, at the cost of public exchequer, strike work at will to extract these benefits to the hilt and damn the taxpayer public and customers.