Calculation Of Brokerage in icici direct

Discussion in 'Brokers & Trading Platforms' started by navino87, May 24, 2007.

  1. navino87

    navino87 New Member

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    Can any trader guide me in calculating of brokerage and other charges (BTST BUY\SELL, cash BUY\SELL, Margin BUY\SELL, etc... ) while trading with icici direct. Please explain it step by step.
     
  2. pakatil

    pakatil Well-Known Member

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    For Cash & BTST Trades : Let us say Trade Amount is 30,000.00

    1. Brokerage = 30000 * 0.75 / 100 = 225.00
    2. Service Tax = 225 * 12.24 / 100 = 27.54
    3. STT = 30000 * 0.125 / 100 = 37.50
    4. Total = 225.00 + 27.54 + 37.50 = 290.04

    If Brokerage is less than 25.00 then 25.00 is charged


    For Margin & MarginPlus Trade : Let us say Buy Amount is 30,000.00 & Sell Amount is 31,000.00

    1. Buy Brokerage = 30000 * 0.05 / 100 = 15.00
    2. Buy Service Tax = 15 * 12.24 / 100 = 1.836
    3. Total for Buying = 15.00 + 1.836 = 16.836

    5. Sell Brokerage = 31000 * 0.05 / 100 = 15.50
    6. Sell Service Tax = 15.50 * 12.24 / 100 = 1.897
    7. STT = 31000 * 0.025 / 100 = 7.75
    8. Total for Selling = 15.50 + 1.897 + 7.75 = 25.147

    9. Total Brokerage = 16.836 + 25.147 = 41.983

    If Brokerage is less than 15.00 then 15.00 is charged

    Cheers
    PAKatil
     
  3. navino87

    navino87 New Member

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    Thanks a lot man..

    I hav a doubt... For Cash & BTST, Trades will the same brokerage be charged for buying n selling???
     
  4. pakatil

    pakatil Well-Known Member

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    Obviously Brokerage has to be paid for every Trade whether Buy or Sell.

    Buy & Sell Brokerages for Margin & MarginPlus are shown separately simply because, Buy does not have STT.

    Hope it is clear

    Cheers
    PAKatil
     
  5. navino87

    navino87 New Member

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    I dont get the exact brokerage...

    REGARDING CASH TRADE :

    i hav bought 1000 shares of himfut @ 22.85... The brokerage charged was 221.16... But according to your calculation it comes 220.91... The same way for every share it varies... for some share the brokerage charged is high n for some share the brokerage charged is less...

    REGARDING MARGIN TRADE :

    i hav bought 20 shares of jetair for 634.50... The brokerage charged was 32.70... But according to your calculation it comes 7.12... The same way for every share it varies... for some share the brokerage charged is high n for some share the brokerage charged is less...

    why is this difference???
     
  6. pakatil

    pakatil Well-Known Member

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    Reg Cash Trade Diff : Calculation is on a lot of 1000 shares. If Trade was excuted with smaller lots, Brokerage is calculated for each lot, rounded off to 4th decimal and then added up. Hence the diff. I few paise diff may be tolerated.

    Reg Margin Trade, please note Brokerage for 20 * 634.50 = 12,990 is not 6.345, but a minimum of 15.00 plus Service Tax (plus STT for Sell Type).

    I have been trading with ICICI since 10 months. Never had any calculation errors barring few paise.

    Cheers
    PAKatil
     

  7. shuvrabanerjee

    shuvrabanerjee New Member

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    Hi,

    Can anybody compare the price chart for other online share trading such as 5paisa.com, Indiabull or sharekhar. It will be a useful information related to daily trading and on Cash segment. This will help us to choose the right trading account.
     
  8. navino87

    navino87 New Member

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    Thanks a lot man...

    Note: Please dont mistake me... I am asking this for creating formulae for calculating the brokerage by itself in my spreadsheet...


    I Hav Some more doubts...

    1. In case of margin trading when the brokerage is > 15 then no problem, I get only fey paise difference... But in case if it is less than 15 this calcullation does't work...

    For eg:

    I hav bought 100 shares of tvssuz for 62.85... The brokerage charged was 24.70...

    But according to ur calculation :

    1. (100*62.85)*(0.05 / 100) = 3.14 (Rounded off to 15)
    2. 15*(12.24 / 100) = 1.84
    Total = 16.84
    But the brokerage charged is 24.70

    2. I case of sales of stock For Cash & BTST Trades :

    30 shares of rcom @ 445..
    according to your calculation i get brokerage of Rs. 129.07.
    But the brokerage charged is 22.30

    Hope you understand my problem....

    Thanks in advance...
     
  9. shuvrabanerjee

    shuvrabanerjee New Member

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    Hi navinos87,

    You can find the details Brokerage incl. taxes breackup calculation from your icicidirect trade book. Go to Equity -> Trade Book and enter the transaction date. Click on the Brokrage amount to get the calculation details. To re-calculate the amount use the same brokerage charges as mentioned by pakatil.
     
  10. pakatil

    pakatil Well-Known Member

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    @navino87,

    Attached Excel Workbook that I am using. Try it out. Still if there are huge differences, call their Help Desk.

    Cheers
    PAKatil
     
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