HDFC Securities vs SMC Global

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
SMC Global
Full-Service Broker · since 1994
SMC Global

HDFC Securities vs SMC Global — quick verdict

Choose HDFC Securities if

You want research and offline support

Invest Right. Invest Now.

Choose SMC Global if

You want research and offline support

Your Financial Partner.

Company overview

HDFC Securities is a full-service broker incorporated in 2000; SMC Global is a full-service broker incorporated in 1994.

ParameterHDFC SecuritiesSMC Global
Type of broker Full-Service Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX · NCDEX · MSEI
Year of incorporation 2000 1994 older
Number of branches 200+ 2,500+ wider
Active clients ~14.6 Lakh larger 4 Lakh+

Charges & AMC

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

ParameterHDFC SecuritiesSMC Global
Trading a/c opening ₹999 + GST ₹0 (Online)
Trading a/c AMC ₹0 (Free) ₹0
Demat a/c opening ₹0 (Free) ₹0
Demat a/c AMC ₹750 per year* ₹399 + GST per year lower
DP charges (per ISIN, sell) ₹18.50 + GST per debit transaction ₹15.93 per debit transaction (including GST) lower

Brokerage charges

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

ParameterHDFC SecuritiesSMC Global
Equity Delivery 0.10% 0.30%
Equity Intraday 0.03% 0.30%
Equity Futures ₹20 per executed order or 0.03% (whichever is lower) 0.30%
Equity Options ₹20 per executed order ₹20 per executed order
Currency F&O ₹20 per executed order 0.03%
Commodity F&O ₹20 per executed order 0.03%
Call & Trade ₹20 per executed order ₹20 per executed order

Transaction charges (exchange turnover)

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

ParameterHDFC SecuritiesSMC Global
Equity Delivery NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) NSE: 0.00297% • BSE: 0.00375%
Equity Intraday NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) NSE: 0.00297% • BSE: 0.00375%
Equity Futures NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%) NSE: 0.00173%
Equity Options NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%) NSE: 0.03503% (on premium)
Currency Futures NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%) NSE: 0.00035%
Currency Options NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%) NSE: 0.03110% (on premium)
Commodity Futures MCX ₹260 per Cr (0.00260%) MCX: 0.00210%
Commodity Options MCX ₹5,000 per Cr (0.05%) MCX: 0.04180% (on premium)

Demat & DP charges

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

ParameterHDFC SecuritiesSMC Global
Demat Account Opening ₹0 (Free) ₹0
Transaction Charges (Sell) ₹18.50 + GST per debit transaction —
Annual Maintenance Charges (AMC) ₹750 per year* ₹399 + GST per year
Pledge Creation / Invocation ₹25 + GST per request —
Remat ₹25 per certificate + applicable charges —
Failed Transactions Nil Nil
Debit Transaction Charges — ₹15.93 per debit transaction (including GST)
Pledge / Unpledge Charges — ₹25 + GST per request
Dematerialisation (Demat) — ₹150 per certificate + GST
Rematerialisation (Remat) — ₹150 per certificate + GST

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by HDFC Securities and SMC Global.

ParameterHDFC SecuritiesSMC Global
Equity Delivery 100% of trade value (1x) 100% of trade value (1x)
Equity Intraday As per SEBI peak margin norms (Up to 5x) VAR + ELM Margin (Up to 5x*)
F&O (Eq/Curr/Comm) SPAN + Exposure Margin (1x) SPAN + Exposure Margin (As per available margin)
Equity Options (Buy) — Premium Value (Not Applicable)
Equity Options (Sell) — SPAN + Exposure Margin (As per available margin)
Currency Futures & Options — SPAN + Exposure Margin (As per available margin)
Commodity Futures & Options — SPAN + Exposure Margin (As per available margin)

Features & account

Account type and feature availability across HDFC Securities and SMC Global.

ParameterHDFC SecuritiesSMC Global
3-in-1 account ✓ Yes better ✕ No
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 SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
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. Research Reports, Trading Calls, Option Chain, Advanced Charting, Basket Orders, Price Alerts, Portfolio Tracker, Margin Trading Facility (MTF), IPO Investment, Wealth Management

Trading platforms & apps

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

ParameterHDFC SecuritiesSMC Global
Trading platforms offered HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Number of platforms 4 more choice 3
Platforms (summary) HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Mobile / desktop apps Web + Mobile, Mobile, Desktop, Web Web, Mobile, Desktop

User ratings

User ratings for HDFC Securities and SMC Global across the key parameters.

Rated onHDFC SecuritiesSMC Global
Fees 4.3 better 4.1
Brokerage 4.4 better 4.2
Trading platform 4.7 better 4.3
Customer service 4.3 4.5 better
Research 4.5 4.8 better
Overall 4.4 better 4.3

Investment options

Which investment products HDFC Securities and SMC Global let you access.

ParameterHDFC SecuritiesSMC Global
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 SMC Global.

ParameterHDFC SecuritiesSMC Global
Bracket Order ✕ No ✓ Yes better
Cover Order ✕ No ✓ Yes better
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 SMC Global.

ParameterHDFC SecuritiesSMC Global
SEBI registration INZ000186937 INZ000199438
NSE member code 06586 06611
Year of incorporation 2000 1994 longer track record
Net worth ₹3,300+ Crore stronger ₹3,215+ Cr
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX · NCDEX · MSEI
Latest complaint ratio 0.175% 0.004% fewer complaints

Complaints record

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

ParameterHDFC SecuritiesSMC Global
Latest financial year 2025-26 2025–26
Exchange NSE NSE
Active clients 15,39,103 larger base 4,21,538
Complaints filed 2,690 17
Complaint ratio 0.175% 0.004% 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.
SMC Global

▲ Pros

  • ✓ Strong equity, commodity, and currency research.
  • ✓ Wide range of investment and wealth management products.
  • ✓ Large nationwide branch and franchise network.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, and insurance.
  • ✓ Advanced web, mobile, and desktop trading platforms.
  • ✓ Dedicated relationship managers and advisory services.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Annual Demat AMC is applicable.
  • ✕ Some advanced advisory services are available only to premium clients.
  • ✕ Trading platforms may have a steeper learning curve for beginners.
  • ✕ Call & Trade charges apply.
Open HDFC Securities Account Open SMC Global Account

Explore more comparisons

Compare HDFC Securities with

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Compare SMC Global with

SMC Global vs Zerodha SMC Global vs Angel One SMC Global vs Upstox SMC Global vs Groww SMC Global vs ICICI Direct SMC Global vs Kotak Neo SMC Global vs SBI Securities SMC Global vs Motilal Oswal SMC Global vs Paytm Money SMC Global vs Mirae Asset Sharekhan SMC Global vs Axis Direct SMC Global vs 5paisa SMC Global vs Choice Broking SMC Global vs m.Stock SMC Global vs Sahi SMC Global vs FYERS Securities SMC Global vs Anand Rathi SMC Global vs Jainam Broking 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.