your suggestion required... "URGENT"

#1
I bought 10,000 shares of birla power for 3.85 each... last friday..
but to my surprise my broker K&A securities(trustline) charged me 5% brokerage amount .. which is arnd Rs 2000... and it ll be the same while selling... so total is 10% to broker....

They usually charge arnd 0.3% to 0.5% brokerage for delivery shares which they told me before .. I had no damn idea it gonna be that high.. in this case.

Now its like i have to wait for two circuit breaks to be in pos of no profit no loss.

What action could i take on my brokerage firm plz suggest...
 
#2
YOU HAVE TO CHECK WHETHER THE BROKERAGE IS CHARGED ON THE
NUMBER OF SHARES OR THE AMOUNT. NORMALLY IF THE SHARE IS
BELOW CERTAIN VALUE THE BROKERAGE IS CHARGED ON THE NO. OF SHARES.
YOU MAY NOT BE ABLE TO DO MUCH IF YOU HAVE SIGNED AGREEMENT
BETWEEN YOU AND BROKER.
:annoyed:
 
#3
hi ravi,
In the case of penny stock the brokerage may not be same as other normal stock(i think above Rs 35). You should have charged 0.02 paise as minimum charge by the broker. pls check the minimum brokerage in their site.
 
#5
but i thought as per securities regulation act 1992... broker cant charge more than 2.5% and sub broker .. 1.5%... inclusive of everything...

today i called them and asked.. as general ..what is the max brokerage u could take per share...

he replied 2.4%... not more than that....

and then i said look into my accnt u have charged 5%...

he is now looking into it...
I hope.. things ll turn my side....
 

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