Which is Better for Intraday Trading: Sharekhan or Upstox?
Intraday trading can be highly lucrative for traders who are keen on making quick profits. However, choosing the right broker can make or break your trading journey. In this article, we will dive into the details of two prominent brokers in the Indian market: Sharekhan and Upstox. We will compare their features, costs, and other important factors to help you make an informed decision.
Why Consider Intraday Trading?
Intraday trading involves buying and selling shares within the same trading day. Unlike longer-term investments, intraday traders aim to capture short-term price movements for quick profits. To be successful, traders need to stay updated with market trends, have precise trading strategies, and access to a reliable broker. This article will help you evaluate whether Sharekhan or Upstox is the better choice based on your specific needs.
The Cost Factor
When it comes to intraday trading, the cost structure of the brokers is a critical factor to consider. Let's compare the costs associated with both Sharekhan and Upstox.
Sharekhan: Espresso Discount Broker
Sharekhan's Espresso Discount Broker offers several features that cater to the needs of traders: No brokerage on loss No brokerage on delivery System stability Quick and fast execution of trades Square off all positions at once Comprehensive options chain on mobile and web Native charting on a mobile app with easy buy and sell from charts Free price alerts Good reports like expiry summary and portfolio Easy application for IPOs and SGB bonds Buying ETFs with ease Free fund transfer with six major banks Free auto square off Pay when you profit advantage 0 delivery brokerage
Sharekhan's Espresso Discount Broker offers these features at a competitive cost. As highlighted in the original content, you save about 40,000 rupees each month compared to Upstox. This makes Sharekhan a highly attractive option for frequent intraday traders.
Upstox: A Trusted Choice
Upstox is another well-known broker in the Indian market. For intraday trading, Upstox offers a brokerage rate of 0.03% or Rs. 20, whichever is lower. However, let's compare this with the costs at Kotak Securities, which is mentioned in the original content. With Upstox, you pay 100 rupees per order, totaling Rs. 2000 per day. For 20 trading days, the total cost is Rs. 40,000. With Kotak Securities, your cost for 20 trading days is Rs. 0.
Based on the cost comparison, it's clear that using Kotak Securities is significantly cheaper for frequent intraday traders. Therefore, Upstox might not be the most cost-effective choice for those trading frequently.
Conclusion
The choice between Sharekhan and Upstox depends on your specific needs and trading behavior. If you are a frequent intraday trader looking for comprehensive features and cost savings, Sharekhan's Espresso Discount Broker might be the better option. However, if you are new to intraday trading or occasional traders, Upstox could be a more suitable choice. Both options have their strengths, so be sure to consider your trading style and budget before making a decision.
Disclaimer
All views presented in this article are personal and intended for informational and educational purposes. The information does not represent the opinions of any entity with which the author has been, is currently, or will be affiliated.