ICICIDirect Brokerage calculator

Discussion in 'Software' started by ritz1, Dec 15, 2007.

  1. ritz1

    ritz1 New Member

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    Hi,
    Anyone has a good calculator for brokerage calculator for ICICIDirect? I have gone through the details on the ICICIDirect site but not clear about the brokerage calculations like if the brokerage is applied only during buying the shares and not while selling etc etc. Also the calculations they have shown are for very high investors. I am a new investor and just started the trading using ICICI direct. Hence I am looking for an excel sheet kind of thing which can calculate the brokerage considering all the factors.
    Please let me know if this is the correct forum or I should direct this Q to any other forun.
     
  2. asnavale

    asnavale Well-Known Member

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    Hi Ritz,

    The Brokerage calculation for ICICIDIRECT is simple. If you are Buying for delivery, the brokerage is applied on both trades. that means when you buy you pay it and when you sell also you pay. If you are buying and selling on the same day then brokerage is applied only for one side. The brokerage is 0.75% of total value of trade (cost of each share multiplied by number of shares). To this add 12.36% of the total brokerage as service tax and 0.125% of total trade value as STT. For example, if you by 10 shares at the rate of Rs 100 each then the calculation is as follows:

    Total trade value = Rs 1000.00
    Brokerage(0.75% of trade value) = Rs 1000 X 0.75/100 = Rs 7.50
    Service Tax (12.36% of brokerage) = 7.5 X 12.36/100 = Rs 0.9270
    STT (0.125% of trade value) = 1000 X 0.125/100 = Rs 1.25

    Total = Rs 7.50 + Rs 0.9270 + Rs 1.25 = Rs 9.677

    Note that ICICIDIRECT calculates these figures to 4 decimal places and then rounds off in the end.

    From above calculation you can see that The total overheads for the trade can be calculated by multiplying the trade value with 0.9677. The over heads are to be added to your purchase cost to get the actual cost of acquiring the shares. The overhead cost should be subtracted from total sale value to get the actual amount which is credited to your account.

    Hope this helps

    Regards

    -Anant
     
  3. rgarg333

    rgarg333 New Member

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    "From above calculation you can see that The total overheads for the trade can be calculated by multiplying the trade value with 0.9677."
    you actually mean multiply by 0.009677, so if the trade is for 100,000 then overheads are 967.7 (and not 96770)
     
  4. nimbus3000

    nimbus3000 New Member

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    I have recently opened an icici direct account and in my first trade they took a huge amount as brokerage.
    i puschased shares worth rs.608 in delivery and they took Rs.17.21 as brokerage.
    I cannot understand that in the light of what you had written.
    Please Help.
     
  5. NOMINDTR

    NOMINDTR Well-Known Member

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    ICICI charges minimum brokerage per order. It is Rs 25/- per order for delivery traders and Rs 15/- per order for non delivery (margin) trades. If the trade value is low, say brokerage is Rs 4.50 for a margin trade, then they would charge Rs15 as minimum
     
  6. ace-trader

    ace-trader Member

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  7. johy

    johy New Member

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    Guys, anyone of you know charges of HDFC sec?
     
  8. Class

    Class Active Member

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    No I don't know, but it was in the link given by previous poster.

    HDFC Securities

    Account Opening Charge (AOC): Rs 799
    Annual Maintenance Charge (AMC): First year free. Rs 561 second year onwards.
    Brokerage: Higher of Rs 25 or 0.5% of transaction value (delivery).
    Higher of Rs 20 or 0.1% of transaction value (intra-day).
    Browsers: IE 5.0+, NN 8.1+ and FF 1.5+
    Interface: Online, phone and branch.



    i.e. min Rs 25, or 0.5% transaction, which ever is higher, for delivery:clapping:
     
  9. r_bharath20

    r_bharath20 New Member

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    Anyone having ready made template for Brokerage calculator in excel format please let me know
     
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