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HDFC Sky Review: Unveiling Features, Fees, and Investment Benefits

Created on 15 Feb 2024

Wraps up in 4 Min

Read by 10k people

Updated on 27 Jun 2024

Expanding beyond traditional trading and putting an end to the new-age investor's problems, HDFC Securities has come up with a brand-new app, HDFC Sky, to capture a growing segment of tech-savvy, cost-conscious investors while offering a more diversified and user-friendly platform.

Launched in September 2023, it has quickly gained traction, boasting over 3 lakh customers on its platform already, signalling its rapid growth and popularity among investors. But does it deliver on its sky-high ambitions?

In the blog review, we'll explore HDFC Sky's features, fees, platform usability, and research offerings in depth. 

HDFC Sky Features

HDFC Sky allows you to invest in a variety of assets, including Indian and US stocks, mutual funds, exchange-traded funds (ETFs), futures, options, currencies, and commodities. It offers a number of features that are designed to make investing easier and more convenient, including:

  • Zero account opening charges.
  • You can invest in US stocks with fractional shares, which means you can buy a portion of a share instead of buying a whole one.
  • You can create baskets of stocks and other assets and then place an order to buy or sell all of the assets in the basket at once.
  • The app provides customisable dashboards that show you your portfolio performance, market news, and other relevant information.
  • The app uses a number of security features to protect your user data and financial information.

If you want to know the benefits of opening a Demat account, then click on the link.

HDFC Sky Investment Offerings

  • Stocks and ETFs: Choose from over 3,500 listed companies and more than 100 ETFs. Seamlessly engage in futures, options, currency, and commodity trading. 
  • Mutual Funds: Invest in 2000+ mutual funds across risk levels, themes, industries and 29+ fund houses.

Why upgrade to HDFC Sky?

HDFC Sky is a next-generation investing and trading platform offering several features that might entice you to upgrade from a different platform or open a new account. Here are some of the key reasons they highlight for upgrading:

1. Cost-effectiveness:

  • Zero account opening charges
  • Free AMC for the first year
  • ₹20 per order for intraday and delivery trades across equities, futures & options, currency, and commodities.

2. Convenience and features:

  • Trade various asset classes like equities, mutual funds, commodities, derivatives, currencies, and even US stocks, all in one place.
  • Streamlined portfolio analysis with easy-to-understand dashboards.
  • Powerful charting tools to analyse market trends and make informed decisions.
  • Curated baskets containing multiple securities.
  • Access to Initial Public Offerings (IPOs).
  • Educational content to improve your investment knowledge.

Click on the link to read about the difference between Discount Brokers and Full-Service Brokers.

HDFC Sky Brokerage Plan, Fees and Charges

Account Opening Charge

Free

Dematerialisation Charges

₹50/share certificate + courier charges

Account Maintenance Charge

₹20/month (Free for the first year)

Demat Transaction Charges

₹20

Call & Trade Charges

₹20/Call

Equity Brokerage:

Equity Delivery

₹20 or 0.1%, whichever is lower

Equity Intraday

₹20 or 0.1%, whichever is lower

Brokerage for US Stocks

US Stocks

5 cents/share

Derivative Brokerage

Derivative Futures Intraday

₹20 or 0.1%, whichever is lower

Derivative Futures Carry Forward

₹20 or 0.1%, whichever is lower

Derivative Options Intraday

₹20 per order

Derivative Options Carry Forward

₹20 per order

Currency Brokerage

Currency Futures Intraday

₹20 or 0.1%, whichever is lower

Currency Futures Carry Forward

₹20 or 0.1%, whichever is lower

Currency Options Intraday

₹20 per order

Currency Options Carry Forward

₹20 per order

Commodity Brokerage

Commodity Futures Intraday

₹20 or 0.1%, whichever is lower

Commodity Futures Carry Forward

₹20 or 0.1%, whichever is lower

Commodity Options Intraday

₹20 per order

Commodity Options Carry Forward

₹20 per order

Read this blog to make the right decision for your investment- Comparison of Top Stock Brokers in India.

How to open an HDFC Sky Account online?

Step 1: Visit the HDFC Sky website
Step 2: Click on "Sign Up".
Step 3: Enter your email address (optional) and referral code (optional).
Step 4: Follow the on-screen instructions to fill out the online application form.
Step 5: You will need to upload scanned copies of your PAN card, Aadhaar card, and other required documents.
Step 6: Your application will be reviewed, and you will be notified of the status within a few days.

HDFC SKY vs HDFC Securities

Feature

HDFC Sky

HDFC Securities

Target Audience

Beginners, frequent traders

Experienced investors, those needing research & guidance

Services

Online Discount Broker

Full-service Broker with online & branch access

Account Opening Fee

Free

Free

Brokerage

₹20 per executed order (Equity, F&O, Currency, Commodity)

Varies depending on trading volume and plan

Annual Maintenance Charge (AMC)

₹240 + GST

₹750 + GST

Investment Options

Equity, Derivatives (F&O), Currency, Commodities

Same as HDFC Sky, plus Mutual Funds, IPOs, Bonds

Research & Analysis

Basic research tools, news

Comprehensive research reports, analyst recommendations, dedicated Relationship Managers (RMs)

Trading Platform

User-friendly mobile app & web platform

Mobile app, web platform, desktop software

Customer Support

Online chat & email support

Online chat, email support, branch network support

Frequently asked questions

Q. How do I log in to my HDFC Sky account?
A. 
Step 1:
Open a browser on your internet-connected computer and navigate to hdfcsky.com in the address bar to access the webpage.
Step 2: Enter your client ID, email ID, or mobile number, along with your password, to log in to HDFC Sky. You will receive a one-time password (OTP) on your registered mobile number for verification.

Login page of HDFC Sky account.

Step 3: Type the OTP and click on submit. You will be logged in.

OTP and click on submit of HDFC Sky

Q. Who can open an HDFC Sky account?

A. Any Indian resident with a valid PAN card and bank account can open one. However, you cannot have both HDFC Sky and regular HDFC Securities accounts simultaneously.