@ Finvasia,
With this explanation I am somewhat clear now on your leverage providing conditions. You have explained with example of 1 lot of Banknifty Futures.
I have a query that if I place 1 order of 20 lots of Banknifty Futures then in Platinum plan would it mean that the Charges of Rs. 33 will be translated into 20 Lots * Rs. 33 = Rs. 660 + GST for that day on which I am taking the leverage ?
Hi cloudTrader
We shall answer your question in two ways assuming you are looking to place single order of 20 Lots in one trade.
1. To place single order of 20 Lots, exchange need INR 16,00,000 (80,000X20) as each lot needs 80,000 margin multiplied with Qty 20. So to trade in Basic FREE plan, you need 8 Lakhs in MIS.
2. Now assuming you have platinum plan (5X), you need 3,20,000 to place single order to trade 20 Lots BNF. Since first 3.2 L shall be free, there shall be charges for next 9,60,000. This comes out to be Approx 654 plus GST.
Thanks