HDFC Securities vs SBI Securities

A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.

HDFC Securities
HDFC Securities
Full-Service Broker · since 2000
VS
SBI Securities
Full-Service Broker · since 2006
SBI Securities

HDFC Securities vs SBI Securities — quick verdict

Choose HDFC Securities if

You want research and offline support

Invest Right. Invest Now.

Choose SBI Securities if

You want research and offline support

Investing Made Easy.

Company overview

HDFC Securities is a full-service broker incorporated in 2000; SBI Securities is a full-service broker incorporated in 2006.

ParameterHDFC SecuritiesSBI Securities
Type of broker Full-Service Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX
Year of incorporation 2000 older 2006
Number of branches 200+ 1,000+ SBI Investor Service Centres & Ba wider
Active clients ~14.6 Lakh larger ~13.7 lakh

Charges & AMC

Account-opening and maintenance charges for HDFC Securities and SBI Securities compared side by side.

ParameterHDFC SecuritiesSBI Securities
Trading a/c opening ₹999 + GST ₹0 (Free)
Trading a/c AMC ₹0 (Free) ₹0 (Free)
Demat a/c opening ₹0 (Free) ₹0 (Free)
Demat a/c AMC ₹750 per year* ₹0 (Free for the first year), thereafter as per applicable tariff plan lower
DP charges (per ISIN, sell) ₹18.50 + GST per debit transaction ₹15.34 per debit transaction lower

Brokerage charges

How HDFC Securities and SBI Securities price each trading segment, per executed order.

ParameterHDFC SecuritiesSBI Securities
Equity Delivery 0.10% 0.50%
Equity Intraday 0.03% 0.05%
Equity Futures ₹20 per executed order or 0.03% (whichever is lower) 0.05%
Equity Options ₹20 per executed order ₹50 per executed order
Currency F&O ₹20 per executed order 0.05%
Commodity F&O ₹20 per executed order 0.05%
Call & Trade ₹20 per executed order ₹50 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by HDFC Securities and SBI Securities, per segment.

ParameterHDFC SecuritiesSBI Securities
Equity Delivery NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Intraday NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Futures NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%) NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%)
Equity Options NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%) NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%)
Currency Futures NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%) NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%)
Currency Options NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%) NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%)
Commodity Futures MCX ₹260 per Cr (0.00260%) MCX ₹260 per Cr (0.00260%)
Commodity Options MCX ₹5,000 per Cr (0.05%) MCX ₹5,000 per Cr (0.05%)

Demat & DP charges

Depository (demat) charges for HDFC Securities and SBI Securities — AMC, debit transactions, pledging and remat.

ParameterHDFC SecuritiesSBI Securities
Demat Account Opening ₹0 (Free) ₹0 (Free)
Transaction Charges (Sell) ₹18.50 + GST per debit transaction ₹15.34 per debit transaction
Annual Maintenance Charges (AMC) ₹750 per year* ₹0 (First Year), thereafter as per tariff
Pledge Creation / Invocation ₹25 + GST per request ₹25 + GST per request
Remat ₹25 per certificate + applicable charges ₹25 per certificate + applicable charges
Failed Transactions Nil Nil

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by HDFC Securities and SBI Securities.

ParameterHDFC SecuritiesSBI Securities
Equity Delivery 100% of trade value (1x) 100% of trade value (1x)
Equity Intraday As per SEBI peak margin norms (Up to 5x) As per SEBI peak margin norms (Up to 5x)
F&O (Eq/Curr/Comm) SPAN + Exposure Margin (1x) SPAN + Exposure Margin (1x)

Features & account

Account type and feature availability across HDFC Securities and SBI Securities.

ParameterHDFC SecuritiesSBI Securities
3-in-1 account ✓ Yes ✓ Yes
Automated / API trading ✕ No ✕ No
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✓ Yes ✓ Yes
Trading platforms HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Intraday square-off 3:15 PM 3:15 PM
Other 3-in-1 account, MTF, research reports, IPO investment, basket orders, option chain, mutual funds, ETFs and bonds. 3-in-1 account, MTF, research reports, IPO investment, mutual funds, ETFs and fixed-income products.

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by HDFC Securities and SBI Securities.

ParameterHDFC SecuritiesSBI Securities
Trading platforms offered HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Number of platforms 4 more choice 3
Platforms (summary) HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Mobile / desktop apps Web + Mobile, Mobile, Desktop, Web Web, Mobile, Desktop

User ratings

User ratings for HDFC Securities and SBI Securities across the key parameters.

Rated onHDFC SecuritiesSBI Securities
Fees 4.3 better 4.2
Brokerage 4.4 better 4.2
Trading platform 4.7 better 4.3
Customer service 4.3 4.4 better
Research 4.5 4.5
Overall 4.4 better 4.3

Investment options

Which investment products HDFC Securities and SBI Securities let you access.

ParameterHDFC SecuritiesSBI Securities
Stocks / Equity ✓ Yes ✓ Yes
Commodity ✓ Yes ✓ Yes
IPO ✓ Yes ✓ Yes
Mutual Funds ✓ Yes ✓ Yes
Bonds / NCD ✓ Yes ✓ Yes

Order types offered

Advanced order types supported by HDFC Securities and SBI Securities.

ParameterHDFC SecuritiesSBI Securities
Bracket Order ✕ No ✕ No
Cover Order ✕ No ✕ No
BTST ✓ Yes ✓ Yes
After Market (AMO) ✓ Yes ✓ Yes
GTC / GTT ✓ Yes better ✕ No

Safety & credibility

SEBI registration, financial strength and complaint record for HDFC Securities and SBI Securities.

ParameterHDFC SecuritiesSBI Securities
SEBI registration INZ000186937 INZ000200032
NSE member code 06586 13018
Year of incorporation 2000 longer track record 2006
Net worth ₹3,300+ Crore stronger ₹1,000+ Cr
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX
Latest complaint ratio 0.175% 0.088% fewer complaints

Complaints record

Exchange complaint data for HDFC Securities and SBI Securities — the ratio matters more than the raw count.

ParameterHDFC SecuritiesSBI Securities
Latest financial year 2025-26 2025-26
Exchange NSE NSE
Active clients 15,39,103 larger base 13,69,945
Complaints filed 2,690 1,208
Complaint ratio 0.175% 0.088% fewer complaints

Pros & cons

The main advantages and drawbacks of each broker.

HDFC Securities

▲ Pros

  • ✓ Integrated 3-in-1 account with HDFC Bank.
  • ✓ Comprehensive research reports and expert recommendations.
  • ✓ Advanced web, mobile and desktop trading platforms.
  • ✓ Investment in Stocks, F&O, IPOs, Mutual Funds, ETFs and Bonds.
  • ✓ Margin Trading Facility (MTF) available.
  • ✓ Strong brand reputation with nationwide presence.
  • ✓ Dedicated relationship manager for eligible customers.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Annual Maintenance Charges apply for demat accounts.
  • ✕ Call & Trade service is chargeable.
  • ✕ Some advanced trading tools are available only to eligible customers.
  • ✕ Margin benefits depend on the applicable product and segment.
SBI Securities

▲ Pros

  • ✓ Integrated 3-in-1 account with SBI Bank.
  • ✓ Trusted SBI Group full-service broker.
  • ✓ Comprehensive equity research and investment recommendations.
  • ✓ Trade in Stocks, F&O, IPOs, Mutual Funds, ETFs and Bonds.
  • ✓ Advanced web and mobile trading platforms.
  • ✓ Margin Trading Facility (MTF) available.
  • ✓ Wide branch network and customer support.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Demat AMC may apply after the promotional period.
  • ✕ Call & Trade service is chargeable.
  • ✕ Advanced trading tools are limited compared to some competitors.
  • ✕ Certain services and brokerage plans have eligibility conditions.
Open HDFC Securities Account Open SBI Securities Account

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Compare SBI Securities with

SBI Securities vs Zerodha SBI Securities vs Angel One SBI Securities vs Upstox SBI Securities vs Groww SBI Securities vs ICICIdirect SBI Securities vs Kotak Neo SBI Securities vs Motilal Oswal Financial Services Limited (MOFSL) SBI Securities vs Paytm Money Limited SBI Securities vs Mirae Asset Sharekhan Limited
Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.