HDFC Sky Review 2024: Brokerage Charges, Margin, Trading & Demat Account

by admin | September 18, 2024

Last updated on August 23,2024,

HDFC Securities introduced an innovative discount broker called HDFC Sky. Every trader and investor, including you, may enjoy a wonderful experience with a variety of trading and investment solutions, free account opening, a flat brokerage cost of up to Rs. 20, and the revolutionary HDFC SKY trading app! If you’re interested in opening an account with HDFC Sky, make sure to read this authentic HDFC Sky review through to the conclusion.

HDFC Securities has introduced the HDFC SKY platform (website and app) to the low-cost brokerage market. On a single platform, the account will offer access to Indian stocks, mutual funds, futures and options, commodities, currencies, initial public offerings (IPOs), and international shares.

HDFC Sky: Company Overview

Company Type	Private
Headquarters	Mumbai
Founder	Dhiraj Relli
Establishment Year	2023
Broker Type	Discount Broker
Active Clients	50,000+
Account Opening Charges	Free
Check HDFC Sky Offers	Click Here

About HDFC Sky

HDFC Securities introduced HDFC SKY platform, its discount broking system, this response to the rising need for discount broking applications in India. HDFC Sky is the one-stop destination for all trading and investment needs, whether they are related to Indian equities, mutual funds, equity derivatives, and fixed-income securities. HDFC Sky is a licensed trading member of the BSE, NSE, MCX, and MSEI.

Any citizen can create a free HDFC Sky demat account for no initial fees. Additionally, for all intraday and delivery transactions, it imposes an affordable flat brokerage cost of Rs 20 per completed order. No matter how many trades you make, you just need only to flat brokerage fee of Rs 20.

The HDFC Sky app, which offers discount broking, is a comprehensive means of trading and investing in several asset classes and markets. It comes with lots of useful features like portfolio management, a smart dashboard, quick transaction processing, and many others!

In addition to the features for trading and investing, it gives you free access to 23 years of insightful analysis from HDFC Securities. Prominent discount brokers, such as Groww and Zerodha, do not provide advisory or analysis services.

Top Features of HDFC Sky

HDFC Sky app promises features like Quick Trades, Portfolio baskets, Intuitive Dashboards, trading with minimal downtime, and customer and data security.

HDFC Sky app’s KART function enables traders to submit several orders at once. Instead of making a single deal, traders may use this to purchase or sell a number of stocks at once with a single tap.

• HDFC SKY provides a good Market Overview and market Depth Information; the platform features good mobile and online apps.
• Charting tools like Tradingview and ChartIQ are included with the broker.
• HDFC SKY offers a broad choice of financial services for trading and investing
• Users may also invest in US stocks using the platform
• The apps feature a fast UI for quick transactions
• The platform includes robust paperwork and FAQs for easy reference

HDFC Sky: Investment Options

Users of the app can invest in Indian equities, US bonds, mutual funds, exchange-traded funds (ETFs), or fixed-income instruments, according to evidence on HDFC Sky’s official website. Users of this software can trade in shares of more than 100 ETFs and 3,500 listed businesses.

Additionally, the app lets users invest in more than 2000 mutual funds in a variety of industries. The app gives investors in mutual funds fast access to NFOs and automated SIPs. The app offers comprehensive analysis (paid expert views), portfolio tracking, and the ability to plan out an investor’s savings strategy.

The HDFC Sky app makes it easier for consumers who are interested in foreign stock to participate in over 500 foreign firms by allowing fractional investment, which makes purchasing and selling in small amounts easier.

HDFC Sky app: Brokerage Charges

The HDFC Sky app does not currently impose an account opening charges for trading or demat accounts. For the first year, there are no maintenance charges associated with the app, and deliveries of equity, F&O, currency, and commodities are available for Rs 20 per transaction on an intraday basis. Before using this app, consumers should evaluate its features and cost against those of other well-known applications and platforms.

Account Type	Charges
Trading Account Opening Charges	Free
Trading Account AMC	Free
Demat Account Opening Charges	Free
Demat Account AMC	Rs. 240

 Now is the time to review the brokerage charges. Moreover, the brokerage charges for HDFC SKY are:

Brokerage Plan	Standard
Subscription Charges	Zero
Equity Delivery	Rs. 20 per Order or 0.01% (whichever is lower)
Equity Intraday	Rs. 20 per Order or 0.01% (whichever is lower)
Equity Future	Rs. 20 per Order or 0.01% (whichever is lower)
Equity Option	Rs. 20 per Order
Commodity Future	Rs. 20 per Order or 0.01% (whichever is lower)
Commodity Option	Rs. 20 per Order
Currency Future	Rs. 20 per Order or 0.01% (whichever is lower)
Currency Option	Rs. 20 per Order
US Stocks	5 cents per Share
ETF Intraday and delivery	₹20 or 0.1%

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It’s important to remember that most budget brokers do not charge a brokerage fee for equity delivery or exchange-traded funds (ETFs), but HDFC SKY does. In addition, the fees associated with Equity Intraday and Futures are rather more than those of reputable bargain brokers such as Zerodha.  

Different types of Account by HDFC Sky

Any resident of India is eligible to register a digital trading and demat account with HDFC Sky. But as it doesn’t support NRI trading, NRIs are unable to trade with HDFC Sky. A brief overview of the HDFC Sky 2-in-1 account is provided below:

HDFC Sky Trading Account

To enable clients to place and carry out buy and sell orders in the chosen section, a trading account is created.  100+ ETFs and 3,500+ equities are available for customers. The HDFC Sky platform allows users to invest globally in US-based equities and exchange-traded funds (ETFs).

Transferring money to your trading account, adding the scrip to the watchlist, and placing a buy/sell order are all you have to do to begin trading with HDFC Sky.

You can use net banking or your UPI to fund your trading account. Transferring money over the UPI gateway is free of charge. To trade and invest, you do not need to keep a minimum amount on your HDFC Sky account.

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HDFC Sky Demat Account

Customers may create a demat account with HDFC Sky, a DP that has both CDSL and NSDL, in order to facilitate the process. Every investment you have made, including stocks, mutual funds, initial public offerings, and shares, is securely kept or credited to your HDFC Sky Demat account.

All of your belongings or investments are visible in your Demat account. Your money is digitally safe and secure with a demat account.

People Also Read:- Best Demat account in India

HDFC Sky Mutual Fund Account

You will have immediate access to mutual fund investing if you have created a trading and Demat account with HDFC Sky.

The broker facilitates hassle-free investment in more than 2000 plans from the top 29 asset management organizations without charging brokerage or commissions. You have two options for investing: you may use SIP automation or make a single, large payment.

You can access external mutual funds, receive professional advice and proposals for the finest mutual funds, and then evaluate up to five mutual fund schemes with the HDFC Sky app.

HDFC Sky Review: Pros and Cons

HDFC SKY Pros:	HDFC SKY Cons:
There are no account setup fees.	Limited client service
Lower brokerage fees
Free AMC for the first year	No desktop trading platform
Highly intuitive apps for mobile and online platforms
Charting tools like ChartIQ and Tradingview	No direct mutual fund offerings
Vast selection of financial goods
Various order kinds
Advance orders such as basket, cover, or GTT orders	Delivery trading is not free of charge, but Zerodha provides free delivery trading;
Learning platform for beginners to professionals
No minimum balance obligations

HDFC SKY App & Trading Platforms

HDFC Sky Android App	Android App
HDFC Sky iOS App	iOS App
HDFC Sky Web Trading Platform	Web Trading
Trading Terminal	NA
Algo Trading	NA
Foreign Stocks Trading	Available
Basket Trading	Available
Mutual Fund Investment	Available
Digital Gold Investment	Available
Bonds Investment	Available

How do you login to the HDFC Sky app?

Tap Login Here after opening the HDFC Sky app. In case you haven’t made an account yet, click Sign Up and finish the KYC procedure. You may access your trading account by tapping Login. 

There will be a pop-up window. Put in your login information. To access your HDFC Sky account, you can use your client ID, email address, or cellphone number. A one-time password (OTP) will be issued to your mobile phone when you continue.

How can I go from SKY to HDFC?

You must first close your existing HDFC Securities account in order to start the transition.  It’s vital to remember that if you have no demat balances, low balances, open positions, or outstanding orders linked with the customer’s account, utilizing the e-closure link can result in the closing of both the trading and demat accounts, especially if you have a demat account with HDFC Securities.

Once you create your SKY account, you must handle the closing of your demat account and transfer of investments in the SKY demat by sending a “Demat closure cum transfer form.

Additionally, you have the easy choice to use the “CDSL Easiest” technique to transfer just your assets from your current HDFC Securities demat account to the HDFC SKY account.

People Also Read:- A Step-by-Step Guide to Learn Trading

HDFC Sky Customer Support

Trading Support:- Available, Free	Dedicated Dealer:- Available, Free
Call Support:-  1800 121 2109	Email Support:-   [email protected]
Compliance Officer:-  Call:- 022-3045 3600 Email:- [email protected]	Website:- HDFC Sky Website
LinkedIn	Facebook
Twitter	Instagram

HDFC Sky Review – Conclusion

Customers may use this app to make investments in global assets, IPOs, equities, derivatives, currencies, commodities, mutual funds, and ETFs all in one place. With the exception of worldwide investment, each order costs Rs 20. In summary, HDFC Sky is a robust discount brokerage company that offers a maximum price model of Rs 20, making it comparable to companies such as Groww, Upstox, Zerodha, and so on. Furthermore, HDFC Sky provides value-added services like top-rated mutual fund schemes.

FAQs on HDFC Sky

Check out different FAQs regarding HDFC Sky Review here.

Q.1 If I currently have an HDFC Securities account, why am I unable to register an HDFC SKY account?

Ans:- A client is not permitted to have multiple trading accounts under the same brokerage business under SEBI regulations. Since HDFC SKY is a division of HDFC Securities, customers must select and maintain an account with one platform. 

Q.2 Does canceling my account come with any fees?

Ans:- No, there aren’t any fees associated with closing an account.

Q.3 How long does it take to close my trading account?

Ans:- After the e-closure request is submitted, your trading account will be terminated in T+2 days (where T is the number of trading days).  

Q.4 How can I transfer my investment in HDFC Securities to HDFC SKY?

Ans:- Using the “CDSL Easiest” approach, you may easily move your assets from your HDFC Securities account to the HDFC SKY demat account.

Q.5 How is HDFC SKY different from HDFC Securities in terms of fees?

Ans:- Although HDFC Securities costs ₹999, HDFC SKY provides a free account opening and operates on a discount broking basis. For the first year, there is no AMC; after that, an AMC of ₹240 is charged.

Q.6 What paperwork or data is required for the digital closing of my account?

Ans:- You only require your Aadhaar card number to complete the e-closure process; after submitting it on E-Sign, you will get an OTP on the mobile number and email id linked with your Aadhaar card. No other papers are required.

Q.7 Is HDFC SKY a better option for investors and traders than other top discount brokers?

Ans:- Because HDFC SKY is new and has somewhat higher fees, traders and investors who currently use top online discount brokers might not find it appealing. The price on the platform might need to be changed to better suit the discount broking market.

Q.8 What distinguishes HDFC SKY from other low-cost brokers?

Ans:- The main benefits of HDFC SKY involve free account opening, no annual maintenance charge (AMC) for the first year, and access to a variety of financial instruments, like US stocks. It also provides depth data and a great market perspective.

Q.9 Is HDFC Sky secure?

Ans:- Yes, the HDFC Sky app is a secure and reliable mobile trading software since it uses 256 AES encryption to safeguard all sensitive client data. To avoid any unwanted access, the software also offers customers fingerprint authentication-based biometric login functionality.

Q.10 Is the HDFC Sky app suitable for new users?

Ans:- Indeed, the HDFC Sky app provides customers with an elegant UI/UX design that makes the platform user-friendly for all users, in addition to being a modern mobile trading tool. With the HDFC Sky app, you may trade or buy in stocks, equities, F&O, currencies, and commodities, regardless of your level of experience.