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

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.

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

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.