Sharekhan has charged me a "BOMB" as brokerage fee...help

Hi,
I purchased a scrip for Rs 0.71paise, 2800nos and the value comes to Rs.2002/-

Now i see the brokerage they have charged is Rs.282+tax=Rs.2314 total. Isn't this ridiculous to pay Rs.312 as brokerage???

I really am stressed with Sharekhan with their pricing and i don't know what can be done about this?

Please help asap.

Thanks,
Shagcum

Hi dude,

Same happened with me with Motilal Oswal. I purchased 6300 shares of Cals Refinery of Rs. 0.72/share. It costs me Rs. 4536.
Motilal Oswal charged Rs. 315 as brokerage for this transaction considering Rs. 0.05 per share instead of total amount paid for this transaction.

This brokerage comes 7.0% means I have to pay 14% for buying & selling this shares.

I am really shocked...and don't know what to do.

Regards,
Cool

You can bargain them to make the amount less. I use to do options in shares. Intially they charged melike that but not now. 70 rs per lot. If lot price exceeds 8000 then 1 % of premium value will be charged as brokerage. Do bargain with the representatives to reduce or say u r gonna quit the account.

Regards,
Suresh

Hi Suresh,
Thanks for the suggestion. I did ask for a reduction in brokerage and the offer i received is 6paise/share instead of 10paise/share. The executive told this is the best she could negotiate with the management.

As I'm new to trading I want to know if i got a better deal or is there a room for further negotiations.

I am really thinking about changing my brokerage firm. Is there any broker who gives best deal w.r.t to brokerage? Please let me know about this as well. I want to do intraday as well as regular trading and am looking for a tariff which is flexible and reasonable.

Thanks,
Shagcum

Dear friends,
The brokerage charged to u guys is the minimum brokerage per no of share. It may be 2/2.5/3 paisa per no whatever u had agreed to pay as minimum brokerage. This makes a huge difference when u purchase less value shares. Kindly keep this in mind in future while selecting shares to trade. This is where the brokers get much more brokerage than normal because broker calculates the brokerage per share if it is coming 0.25 paisa per share, he will charge u a monimum of 2 paisa = 8 times.

krm