I have started trading using Sharkhan. Initially the sharekhan agent told me that I will be charged 0.1% and 0.5% brokerage for Intraday(sameday) and delivery(not same day) transactions. Plus some nominal service taxes would be there for each which would be less than these brokerage charged.
Last week I bought a share of Tatasteel and sold (on delivery basis) at the Market Profit of around 49 Rupees. They sent the Contract note. I was surprised that they deducted almost 20 Rupees. When looked closely, I identified that they have put a new row called Min dlv charges which in my case amounted to flat 13.6 Rupees. They also charged me a brokerage of Rs 2.4. Total they charged me around Rs 20 out of my profit. The sharekhan people initially never told about this hidden charges.
When called on their customer care they told that they will charge minimum Rs16 on delivery transactions(Delivery Brokerage + Min dlv charge). So if delivery brokerage is higher then Min dlv charge would be less per script. This means that with 0.5 percent brokerage, I need to transact for around Rs3500 per script, so as to make Delivery Brokerage approach Rs16 and Min div charge to 0.
This thing was not told earlier I was in the belief that they will charge only 0.5% + Taxes for whatever amount of transactions.
Friends, it would be nice if can tell other brokerage firms brokerages and other hidden charges (like min dlv charges), so that I can shift to them easily.
Last week I bought a share of Tatasteel and sold (on delivery basis) at the Market Profit of around 49 Rupees. They sent the Contract note. I was surprised that they deducted almost 20 Rupees. When looked closely, I identified that they have put a new row called Min dlv charges which in my case amounted to flat 13.6 Rupees. They also charged me a brokerage of Rs 2.4. Total they charged me around Rs 20 out of my profit. The sharekhan people initially never told about this hidden charges.
When called on their customer care they told that they will charge minimum Rs16 on delivery transactions(Delivery Brokerage + Min dlv charge). So if delivery brokerage is higher then Min dlv charge would be less per script. This means that with 0.5 percent brokerage, I need to transact for around Rs3500 per script, so as to make Delivery Brokerage approach Rs16 and Min div charge to 0.
This thing was not told earlier I was in the belief that they will charge only 0.5% + Taxes for whatever amount of transactions.
Friends, it would be nice if can tell other brokerage firms brokerages and other hidden charges (like min dlv charges), so that I can shift to them easily.