| Feature | XM Trading | Sharekhan |
|---|---|---|
| Founded | 2009 | 2000 |
| Headquarters | Cyprus | Mumbai, India |
| Regulation | IFSC, CySEC, ASIC | SEBI, CDSL, BSE, NSE, MCX |
| Market Access | Global markets including Forex, Commodities, Indices, Stocks, Metals, Energies | Primarily Indian markets: NSE, BSE |
| Account Types | Micro, Standard, XM Ultra Low, Shares Accounts | First Step (Beginners), Classic (Investors), Trade Tiger (Active Traders), Advisory (High-net-worth Individuals) |
| Minimum Deposit | $5 | INR 750 for Classic; INR 1,000 for Trade Tiger |
| Leverage | Up to 1:888 | Up to 1:10 |
| Trading Platforms | MetaTrader 4, MetaTrader 5, XM WebTrader | TradeTiger, Sharekhan Web Platform, Sharekhan Mobile App |
| Demo Account | Yes | Yes |
| Islamic Account | Yes | No |
| Deposit Methods | Bank Wire, Credit/Debit Cards, E-wallets | Bank Transfers only |
| Withdrawal Methods | Bank Wire, Credit/Debit Cards, E-wallets | Bank Transfers only |
| Customer Support | 24/5 via Live Chat, Email, Phone | 24/5 via Live Chat, Email, Phone |
| Educational Resources | Webinars, Tutorials, Market Research | Platform Tutorials, Educational Articles, Workshops |
| Research Tools | Market Analysis, Economic Calendar, Trading Signals | Fundamental Data, Interactive Charts |
| Mobile Trading | Yes, via MT4/MT5 Apps | Yes, Sharekhan Mobile App |
| Commission & Fees | Variable spreads; zero commission on certain accounts | Trading fees applicable; account opening and AMC charges |
| Accepted Clients | Worldwide (excluding certain jurisdictions) | Indian residents and NRIs only |
| Promotions | Bonuses and Loyalty Programs | Refer and Earn Program |
| Order Execution Type | Market Execution | Market & Limit Order Execution |
| Spread Type | Variable | Fixed & Variable |
| Typical Spreads (EUR/USD) | As low as 0.6 pips | 0.03% of transaction value (equity trades) |
| Algo/Automated Trading | Yes, supports Expert Advisors (EAs) on MT4/MT5 | No built-in support, but API access possible for institutional clients |
| Hedging Allowed | Yes | No |
| Scalping Allowed | Yes | No |
| Fractional Shares Trading | No | Yes, through mutual funds and SIPs |
| Mutual Funds Access | No | Yes |
| IPO Subscription | No | Yes |
| Derivatives Trading | Yes, CFDs on various assets | Yes, Futures & Options (F&O) |
| Commodity Trading | Yes, CFDs on metals and energies | Yes, MCX & NCDEX commodities |
| Currency Trading | Yes, Forex trading available | Yes, INR pairs only on NSE |
| Interest on Margin Balance | No | No |
| Trading Community & Forums | Yes, social trading features & market insights | No dedicated forum, but educational webinars |
| Margin Call Level | 50% | 40% |
| Stop Out Level | 20% | 30% |
| Risk Management Tools | Stop Loss, Take Profit, Trailing Stop | Stop Loss, Trailing Stop |
| API Trading | Yes, FIX API available | Limited API support for institutional clients |
| Custom Indicators | Yes, via MT4/MT5 | Limited support |
| Paper Trading (Simulated Trading) | Yes | Yes, via demo account |
| Algo Bots / Robo-Advisory | Yes, supports algorithmic trading | No, but advisory services available |
| Tax Reporting & Statements | No built-in tax reports | Yes, tax statements available for Indian investors |
| Account Inactivity Fees | Yes, after 90 days | No |
| Corporate & HNI Accounts | No | Yes, special advisory for high-net-worth clients |
| Number of Tradable Instruments | 1000+ (Forex, CFDs on Stocks, Commodities, Indices, Cryptos) | 5000+ (Equities, F&O, Mutual Funds, Commodities, Bonds, ETFs, IPOs) |
| Cryptocurrency Trading | Yes, via CFDs | No |
| ETF Trading | No | Yes |
| Bond Trading | No | Yes |
| SIP (Systematic Investment Plan) | No | Yes, available for mutual funds |
| Stock Basket Investment | No | Yes, via portfolio-based investment plans |
| Penny Stocks Trading | No | Yes, available on BSE/NSE |
| Options Strategies | No | Yes, available via F&O segment |
| Direct Equity Investing | No | Yes |
| Account Base Currencies | USD, EUR, GBP, AUD, JPY, CHF, HUF, PLN, RUB, SGD, ZAR | INR only |
| Minimum Position Size | 0.01 lots (Micro lots) | 1 share or minimum required F&O lot size |
| Leverage on Cryptos | Up to 1:500 | Not available |
| Trailing Stop Order | Yes | Yes |
| Market Depth (Level II Data) | No | Yes |
| Customizable Trading Dashboard | Yes, via MT4/MT5 | Yes, via TradeTiger |
| Real-Time Price Alerts | Yes | Yes |
| Sentiment Analysis Tool | Yes, integrated with trading platform | No |
| Mobile App Features | Advanced charting, trading signals, push notifications | Market watch, portfolio tracking, news, and research tools |
| Auto Trade Copying | Yes, through social trading | No |
| Social Trading Integration | Yes, via community trading features | No |
| OCO (One Cancels Other) Orders | Yes | No |
| Guaranteed Stop Loss | No | No |
| Interest on Uninvested Cash | No | No |
| Physical Delivery of Stocks | No, only CFD-based | Yes, through direct stock purchases |
| Daily Market Insights & Reports | Yes, via XM Research | Yes, via Sharekhan Research |
| Live News Feed | Yes, integrated within MT4/MT5 | Yes, integrated within Sharekhan platforms |
| Event-Based Trading Alerts | Yes | Yes |
| Economic Calendar | Yes | Yes |
| Trading Psychology Tools | No | No |
| Forex VPS Hosting | Yes, free for eligible traders | No |
| Personal Relationship Manager | No | Yes, for premium clients |
| Dedicated RM for HNI Clients | No | Yes |
| Loan Against Securities (LAS) | No | Yes |
| Gold Bonds Trading | No | Yes, via Sovereign Gold Bonds (SGB) |
| NRI Trading Services | No | Yes, for Non-Resident Indians (NRIs) |
| Corporate Account Opening | No | Yes, for businesses |
| Interest-Free Trading Account | Yes, Islamic account available | No |
| Deposit & Withdrawal Fees | No deposit fees, withdrawal fees depend on method | No deposit fees, standard bank withdrawal charges |
| Forex Trading Hours | 24-May | Limited to Indian forex market hours |
| Stock Market Trading Hours | Not applicable (CFDs only) | NSE/BSE trading hours (9:15 AM – 3:30 PM IST) |
| Annual Maintenance Charges (AMC) | None | Yes, applicable for Demat accounts |
| Physical Branches | No physical branches, online support only | 3,000+ branches across India |
| Government Securities Trading | No | Yes, via RBI retail direct |
| Fixed Deposit (FD) Investment | No | Yes, through partnered banks |
| HUF (Hindu Undivided Family) Accounts | No | Yes |
XM Trading is a globally focused forex and CFD broker with high leverage, MT4/MT5 platforms, and advanced trading tools, while Sharekhan is an Indian full-service broker offering direct stock investments, derivatives, mutual funds, and research-backed advisory services.