Commodity Trading Charges

Hi all,
I opened an account with angel commodities & got following deal.
Brokerage of .01% & cash deposit of 100000.( No volume commitment)

I inquired about all trading charges & they told me following.

1. Brokerage(.01%) on transaction value.
2. Service tax(10.3%) on brokerage.
3. MCX Turnover charges Rs 150/Crore or .0015%.
4. Service tax(10.3%) on MCX turnover charges.
5. Stamp Duty Rs 30 /crore.

So my question is:
Are these charges,mainly the MCX turnover charges & stamp duty proper?

Angel RM told me that their MCX charge is lowest since they are high volume player in MCX, & that stamp duty is decided by state govt.(Maharashtra in their case).


I read here that people are paying .005% brokerage with other brokers like Globe capital etc.So is my brokerage OK or Am i being overcharged?

Is 1 paisa standard entry brokerage for commodities, or amongst lesser ones?

Anyone suggest some reputed brokerage which is offering less then 1 paisa & good connectivity &customer service ( most importantly where customer money is safe ?

Thanx,
Naveen

sir,

i give less brokerage than which you avail

MCX charges 250 rs

stampduty charges are revised by exchanges, subject to client residence place

if u want u can contact me..

[email protected]

Re: Please rate Traderji.com at forumrating.com

I HAVE A DOUBT. IT IS ABOUT COMMODITY STAMP DUTY . IN KERALA STAMP
DUTY IS 0.001% OF THE TRADED VOLUMN, WITH A CEILING OF Rs.250/-.
PLEASE CLARIFY IF THIS CEILING IS APPLICABLE TO THE TOTAL VOLUMN
OF TRADE BY THE CLIENT FOR THE DAY OR THE CEILING IS APPLICABLE TO EACH MARKET ,ie. FOR MCX RS.250 /- ,FOR NMCE RS.250/- AND SO ON. ?

SHALL I PAY STAMP DUTY FOR USING THE MCX PLATFORM AT RS.250/-,
NCDEX RS.250/- AND NMCE RS.250/- (OR 0.001% WHICH EVER IS APPLICABLE)

hey,

I think the transaction tax charges by exchange slabwise to broker is variable based on the turnover done by them and they need to pass on the difference to clients ... I think no brokers like (IIFL or Sharekhan) are passing on the benefit to clients by reducing the overall cost of trading .

can any one confirm this ...

You are right, every broker is charging different MCX transaction charges, which logically cannot be more than 250Rs/crore.
Many are charging more than 250 also.

well

i have heard that stamp duty is levied, that depends upon State-wise. And I'm dealing with a broking Firm whose Main Office is in Tamil Nadu ( Chennai ), and they are having 12 Branches Over India.. Finally I'm paying Only 1/2 paise per Crore Volume...

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