Best cheapest commission stock broker in india, please share your personal value.

#1
Hello.
I have an account with wisdomcapital and asthatrade.
I prefer to trade in futures only. Mainly i trade in nifty and banknifty.
Currently i have account with zerodha,wisdomcapital(cheapest brokerage among these 4) ,asthatrade(very high brokerage and they provide huge margin) and finvasia(opened newly).I live in delhi.
So for me Today i traded in total 15 lots,here are they
2 lots nifty
1 lots escort
1 lot ibulshsgfin
1 lot tatasteel
10 lots banknifty.
all september future series
So total i purchased 15 lots in future and sold 15 lots in future intraday today.
All traded in wisdomcapital only.
They charged around Rs.2865 when i see it in backoffice as brokerage.
So 15 lots brokerage 2865 it comes out to be 191 rs brokerage per lot on average , this includes everything brokerage,stt,stampduty and everything
So I would like to know Which broker have you personally tried and trusted and you found it cheapest in terms of brokerage ?
Offcourse margin should be average or high but since i have decent amount of money, it do not matter much to me i can put it some money. If i have shortage of funds i can buy in less quantities in equities because You can only buy minimum quantity in futures 1 lot.

So my question is Which broker do you suggest which have cheapest brokerage? Only say the broker which you tested. Because every other broker out there has brokerage calculator on there site but when you start trading with them, they charge are more. So i would like to know for example, How much is the brokerage of your 1 lot when you take average of 10 days or you can tell me how much do your broker charge for 1 banknifty lot in brokerage. Only tell after seeing it in backoffice entries.

Offcourse i live in delhi so there is different stamp duty prices but would like to know the prices according to delhi stamp duty prices.
Thank you.
 
#2
I don’t think u can compare the brokers based on “the per lot charges” since it heavily depend on turnover. Only stamp duty and its 18% taxes will be added to the calculator I must say unless you subscribed to some paid tools.
I bought and sell 4 lots in fut sept with since last week with Finvasia (1 in SBIN, 1 in Banknifty and 2 in tatasteel, per order cost me Rs. 140.5 on average.
The only difference is that wisdom capital has higher STT due to clearing charges attached and for that high STT, its 18% GST pushes higher. Finvasia doesn’t charge clearing fees just like Zerodha since they themselves are clearing members.
 
#3
I don’t think u can compare the brokers based on “the per lot charges” since it heavily depend on turnover. Only stamp duty and its 18% taxes will be added to the calculator I must say unless you subscribed to some paid tools.
I bought and sell 4 lots in fut sept with since last week with Finvasia (1 in SBIN, 1 in Banknifty and 2 in tatasteel, per order cost me Rs. 140.5 on average.
The only difference is that wisdom capital has higher STT due to clearing charges attached and for that high STT, its 18% GST pushes higher. Finvasia doesn’t charge clearing fees just like Zerodha since they themselves are clearing members.
Why don't you try Fyers broker's 30 day challenge? They will refund all the brokerage. If you lose you will pay 20 rupees brokerage. If you win it's free.. Better to try that then thinking too much for 5 rupees difference I think.

I have not tried finvasia trading platform. Is it better than fyers?
 
#4
I don’t think u can compare the brokers based on “the per lot charges” since it heavily depend on turnover. Only stamp duty and its 18% taxes will be added to the calculator I must say unless you subscribed to some paid tools.
I bought and sell 4 lots in fut sept with since last week with Finvasia (1 in SBIN, 1 in Banknifty and 2 in tatasteel, per order cost me Rs. 140.5 on average.
The only difference is that wisdom capital has higher STT due to clearing charges attached and for that high STT, its 18% GST pushes higher. Finvasia doesn’t charge clearing fees just like Zerodha since they themselves are clearing members.
First of all thank you for giving addup to my forum thread.
Second i just checked I have highest margin Ultimate plan with them so it comes out to be 191 per lot but when i checked calculator of brokerage(of wisdom capital of pro plan less margin in comparison to ultimate plan )It has shown 126rs per lot which looks decent.. I think its because of my plan margin leverage brokerage is high.
Ok so I will try finvasia but there margin is so low in comparison with wisdom capital. I think i should stick with wisdom capital pro plan which have decent margin leverage and ok brokerage.
As soon as i have enough funds to trade 1 lot of lets say 3-5 shares each I will try finvasia and update here.

I had a call with finvasia RM last month, she said Roughly on average there brokerage is 16-17rs per 1 lakh So if a tatasteel share is priced at 377 and lot quantity is 1061 shares which equals to 4lakh there brokerage will be 17X4=68 Rs.( in my opinion i dont mind paying it even if 15-25% brokerage is more) Which i highly doubt they will charge 68rs for 1 lot.
 

gautam7821

Well-Known Member
#5
No one can beat Finvasia in terms of brokerage/clearing charge /stamp duty.
 
#6
I had a call with finvasia RM last month, she said Roughly on average there brokerage is 16-17rs per 1 lakh So if a tatasteel share is priced at 377 and lot quantity is 1061 shares which equals to 4lakh there brokerage will be 17X4=68 Rs.( in my opinion i dont mind paying it even if 15-25% brokerage is more) Which i highly doubt they will charge 68rs for 1 lot.
You’ve got something wrong here. Their brokerage is absolutely zero. These charges are for- Increased Leverage plan? Or only taxes?
 

gautam7821

Well-Known Member
#7
You’ve got something wrong here. Their brokerage is absolutely zero. These charges are for- Increased Leverage plan? Or only taxes?
Finvasia charges only taxes which is around 0.0175% , including 0 brokerage, 0 clearing charge, Rs. 10 stamp duty.

So for 4 lakh trade Rs. 70 roughly for each buy or sell.
 
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