Futures brokerage question

Hi guys,
I am new to the futures trading and have a doubt regarding the brokerage.

Sharekhan is giving me a brokerage of 0.07 %.

If I buy 1 lot of IFCI (assume strike price is 50), the total size of it comes to 7880 x 50 = approx 4 lacs.

Let us assume the initial margin for this is 25%, i.e, 1 lac.

So do I pay brokerage on 1 lac or 4 lacs?

Thanks.
-Bunny.

Brokerage is "per lot"

say you buy a nifty future at 4500 and the brokerage is 0.03% then you will pay

4500*0.0003 = approx Rs. 1.5 (as it include service tax, turnover tax and what not)

same will be calculated at the time of selling... just that STT will be added when selling.. usually its approx Rs. 4 breakeven when 0.03% is the brokerage.

See the excel sheet which can do the calculation for you and tell you the correct breakeven. You can use this to calculate how much brokerage you are paying and at what price if you sell then you will actually make some profits...