HDFC Securities Broker Review
Detailed Review of HDFC Securities: Platforms, Research, and Services.
Open Account with HDFC Securities1. Broker Overview
Full Name: HDFC Securities Limited
Parent Company: HDFC Bank Ltd.
Year of Establishment: 2000
Type: Full-Service Broker (Bank-based)
Headquarters: Mumbai, Maharashtra
SEBI Stock Broker Reg. No: INZ000186937 (NSE, BSE, MSEI, MCX)
DP SEBI Reg. No: IN-DP-372-2018
Depository Participant IDs:
- CDSL DP ID: 12086700
- NSDL DP ID: IN304279
AMFI Reg. No: ARN-13549
PFRDA Reg. No: POP 11092018
IRDA Corp. Agent Licence: CA0062
Research Analyst Reg. No: INH000002475
Website: hdfcsec.com
2. Investment Products Offered
Core Investment Products:
- Equity (Stocks – Delivery, Intraday on NSE, BSE, MSEI)
- Equity Derivatives (Futures & Options)
- Currency Derivatives (Futures & Options)
- Commodity Derivatives (Futures & Options – MCX)
- Mutual Funds (Variety of schemes, SIPs)
- Initial Public Offerings (IPOs) & OFS
- Exchange-Traded Funds (ETFs)
- Debt Instruments (Government Securities, Corporate Bonds, NCDs, FDs)
- Sovereign Gold Bonds (SGBs)
- NPS (National Pension System)
- Insurance Products (Life, General, Health)
- Loans (Loan Against Shares, etc.)
International Investing (U.S. Stocks via Vested Partnership):
- Invest in over 10,000 U.S. stocks and ETFs via the Vested platform.
- Fractional investing starting from $1.
- No minimum balance requirement.
- Complete digital onboarding process.
- Access to pre-built, curated portfolios.
- Assets protected up to $500,000 by SIPC.
Portfolio Management Services (PMS) & AIF:
HDFC Securities does not directly offer Portfolio Management Services (PMS). However, it acts as a distributor for PMS and Alternative Investment Fund (AIF) services provided by various Asset Management Companies (AMCs). Investors interested in PMS/AIF can explore options through HDFC Securities’ distribution platform.
3. Overall Ratings & Breakdown
4. Account Opening & AMC
Trading & Demat Account Opening Charges:₹999
Annual Maintenance Charges (AMC)
Regular Demat Account:
₹750 per annum
Basic Services Demat Account (BSDA):
- Holdings up to ₹50,000: Nil
- Holdings between ₹50,001 and ₹2,00,000: ₹100 per annum
- Holdings above ₹2,00,000: ₹300 per annum
Account Opening Process:Online (seamless with HDFC Bank account for 3-in-1) & Offline options available, supported by branch network.
Required Documents:PAN Card, Aadhaar Card, Bank Proof (HDFC Bank account preferred for 3-in-1), Signature, Income Proof (for F&O).
AMC for Regular Demat Account is often waived for the first year or for HDFC Bank Preferred/Imperia customers. Verify current offers.
5. Brokerage Charges (Standard Plan)
The charges below represent HDFC Securities’ standard brokerage rates. They also offer other plans, including newer discount brokerage models like HDFC Sky. **It is crucial to verify the exact rates for your chosen plan with HDFC Securities.**
| Segment | Brokerage Charge |
|---|---|
| Equity Delivery | 0.32% per transaction |
| Equity Intraday | 0.032% per transaction |
| Equity Futures | 0.03% per transaction |
| Equity Options | ₹20 per lot |
Important: The rates above are for a standard plan. HDFC Securities has various plans; for instance, HDFC Sky offers ₹20/order for most segments. Always confirm the applicable brokerage plan and charges. Statutory charges apply.
6. Other Charges & Taxes
Demat Transaction Charges
| Service | Charge |
|---|---|
| Debit Transaction Charges (Sell from Demat) | 0.04% of the transaction value or ₹20 per instruction, whichever is higher |
| Dematerialization Charges | ₹5 per certificate + ₹35 courier charges |
| Rematerialization Charges | ₹30 per request + NSDL/CDSL actuals |
| Pledge Creation/Closure/Invocation | ₹20 per transaction |
| Margin Pledge/Unpledge Charges | ₹20 per transaction |
Regulatory & Government Charges
Securities Transaction Tax (STT)
| Segment | STT Rate |
|---|---|
| Equity Delivery | 0.1% on buy & sell |
| Equity Intraday | 0.025% on sell side |
| Equity Futures | 0.01% on sell side |
| Equity Options | 0.05% on sell side (on premium) |
Exchange Transaction Charges (NSE Example)
| Segment (NSE) | Transaction Charge Rate |
|---|---|
| Equity Futures | 0.00173% of turnover |
| Equity Options | 0.03503% of premium turnover |
SEBI Turnover Fees
₹10 per crore (0.0001%) of turnover for all segments.
Stamp Duty (Gujarat Specific Rates – Varies by State)
| Segment | Stamp Duty Rate (Buy Side) |
|---|---|
| Equity Delivery | 0.015% |
| Equity Intraday | 0.003% |
| Equity Futures | 0.002% |
| Equity Options | 0.003% |
Note: Stamp duty rates vary by state. The above are indicative.
Goods and Services Tax (GST)
18% on brokerage, transaction charges, SEBI fees, and other applicable charges.
Additional Charges
| Service | Charge |
|---|---|
| Call & Trade Charges | ₹50 per order + GST |
| Auto Square-Off Charges | ₹50 per order + GST |
Disclaimer on Charges: All charges are exclusive of GST and other statutory levies. The charges are indicative and may vary based on specific plans or promotional offers. For the most accurate and up-to-date information, please refer to HDFC Securities’ official Brokerage Structure and Brokerage Plans.
7. Margin & Leverage
Intraday (Equity):Up to 5x (Stock & SEBI specific).
F&O (All Segments):As per Exchange (SPAN + Exposure).
Delivery (Equity – MTF/eMargin):eMargin facility available with interest charges.
Against Pledged Shares:Yes, available post haircut.
8. Trading Platforms
Web:HDFCsec.com (Classic), HDFC Sky (New Platform), ProTerminal
Mobile:HDFC Securities App, HDFC Sky App (Android & iOS)
Desktop:BLINK (Downloadable Terminal)
Notable Features:
- Integration with HDFC Bank account (3-in-1 for seamless fund transfer).
- Access to research reports and trading calls integrated within platforms.
- Advanced charting tools.
- Portfolio tracking, analysis, and various order types.
- Multiple platforms (classic & new HDFC Sky) catering to different user preferences.
9. Tools, Features & Advisory
Charting:Advanced charting tools available on platforms.
Option Chain:Available with analytics.
Strategy Builder:Tools for options and other trading strategies.
API Access:[Verify public availability and charges for API access].
Order Types:Market, Limit, SL, GTT, AMO, Basket Orders, etc.
Research & Advisory:
A core strength of HDFC Securities:
- Comprehensive research reports (Fundamental, Technical, Economic, Thematic).
- Actionable stock recommendations, investment ideas, model portfolios.
- Dedicated Relationship Manager and personalized advisory support (often plan/AUM dependent).
- Investment planning and wealth management services.
10. Extra Features & Value Adds
3-in-1 Account:Seamless integration of HDFC Bank Savings Account, Demat, and Trading account.
Strong Research Desk:Access to detailed research reports and market insights from an experienced team.
Relationship Manager (RM) Support:Personalized assistance and advisory for eligible clients.
Extensive Branch Network:Wide physical presence through HDFC Bank and HDFC Securities branches for offline support.
Diversified Financial Products:Offers a wide array of products including insurance, loans, NPS, etc., beyond broking.
Global Investing (via Vested):Facility to invest in U.S. stocks and ETFs.
DigiSip / Encash:Features for systematic investments and quick liquidation of mutual funds. [Verify current names and features].
11. Pledge Facility
Pledging Allowed?Yes
Pledge/Unpledge Charges:₹20 per transaction + GST. Refer to Section 6 for details.
Margin Availability Time:Usually T+1 day. [Verify specific timings].
12. Fund Transfer & Withdrawal
Supported Fund Transfer Methods:Net Banking (esp. HDFC Bank for seamless transfer), UPI, NEFT/RTGS/IMPS.
Withdrawal Process & Time:
Online process. Standard withdrawal typically processed within 24-48 working hours.
Fund Transfer/Withdrawal Charges:Varies by method. Transfers from/to linked HDFC bank account usually free. [Verify all charges with HDFC Sec].
13. Customer Support
Support Channels:
- Email: [e.g., services@hdfcsec.com or customercare@hdfcsec.com]
- Phone Support: [e.g., 022-39019400 / 1800-2100-234 / 1800-313-6000]
- Live Chat on Website
- Extensive Branch Support (Through HDFC Bank & HDFC Sec network)
- Dedicated Relationship Manager (for eligible clients)
- Virtual Assistant (e.g., ARYA)
- Comprehensive FAQ & Help Section on website
Support Timings:Standard business hours, branch timings. [Verify for 24/7 or extended support].
Turnaround Time (TAT):Varies; RM and branch support can be quicker for some issues. Online support TAT can differ.
14. HDFC SECURITIES BROKER COMPLAINT DATA (FY 2024–25)
NSE (National Stock Exchange)
Active Clients: 1,174,335
Total Complaints: 75
Resolved: 64
Non-Actionable: 8
Pending: 3
BSE (Bombay Stock Exchange)
Active Clients: 245,400
Total Complaints: 4
Resolved: 4
Non-Actionable: 0
Pending: 0
Source: GarvThakur – HDFC Securities Complaints.
Complaint data is dynamic. Always cross-verify with official exchange reports for the latest figures and consider the complaints-to-active-clients ratio for a better perspective.
Complaint data is dynamic. Always cross-verify with official exchange reports for the latest figures and consider the complaints-to-active-clients ratio for a better perspective.
15. Why Choose HDFC Securities? (And Why It Might Not Be For You)
Reasons to Use HDFC Securities (Pros)
- Strong Backing & Trust: Part of the HDFC Group, one of India’s most trusted financial conglomerates.
- 3-in-1 Account: Seamless integration with HDFC Bank account for easy fund transfers and convenience.
- Comprehensive Research & Advisory: Access to in-depth research reports and expert recommendations.
- Wide Range of Investment Products: Offers stocks, MFs, IPOs, bonds, insurance, loans, NPS, US Stocks (via Vested) etc.
- Extensive Branch Network: Large physical presence for in-person support and services.
- Dedicated Relationship Manager support (for eligible clients).
- Multiple trading platforms catering to different needs, including newer HDFC Sky for competitive brokerage.
Reasons to Reconsider HDFC Securities (Cons)
- Higher Brokerage Charges on standard plans compared to discount brokers (though HDFC Sky aims to address this).
- Account Opening Charges & Annual Maintenance Charges (AMC) can be relatively high if not waived.
- Older trading platforms (e.g., HDFCsec.com classic) might feel dated for users accustomed to newer fintech apps.
- Full benefits of research and RM support are often tied to premium plans or higher Asset Under Management (AUM).
- Minimum brokerage per trade can make small trades expensive on some traditional plans.
- Higher charges for certain value-added services or transactions (e.g., call & trade, physical statements).
16. Current Offers & Referral Program
Account Opening Offers:Often runs promotions like waiver/reduction of account opening fees, free AMC for the first year, or bundled services for HDFC Bank customers. [Check HDFC Securities official website for current offers].
Refer & Earn:Yes, HDFC Securities typically has a referral program. [Verify details on their website].
Promo Code:May be available during specific marketing campaigns or for HDFC Bank customers.
Important: Offers and promotions are dynamic and subject to change. Always verify the latest details on HDFC Securities’ official website before making any decisions.