Broker with LOW MARGIN REQUIREMENT (for Carry-over trades)

#1
Hello Friends

After doing some google search I found a discount broker ASHTA (from Bhopal) which charges low margin (only SPAN) and above that if you hedge positions then the deal is even more attractive.

Example: BUY RIL future and sell RIL 920 call. Used margin calculator from three discount brokers.

Zerodha and Samco margin: Rs. 1.68 L and Ashta: Rs. 0.84 L (exactly half).

Astha brokerage for option is same as the above two but slightly higher (0.01 %) for FUT (in case of RIL it is about Rs 90/-).

For someone who is into hedging (like above example) OR shorting NIFTY straddle, ASTHA works out to be a much better deal.

Since the margin requirement is half, you can double the volume in the given capital, although with slightly higher brokerage.

I am already into creating and squaring up such hedge positions for short window of time (these typically last from Thu to Tue) and am happy with a reasonable profit, so don't mind paying higher brokerage.

(NOTE: If after creating BUY FUT, SELL CALL pair, you put in a wide SELL stop loss on LONG FUT position every morning then I do not see a BIG loss in account).

Is anybody using Ashta here and really paying the low margin claimed on their calculator?

Thanks
pos_trader
 
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sanju005ind

Investor, Option Writer
#3
Hello all

Clients of Astha... can u pls reply and confirm the low margin requirement as claimed on its website?

Thanks in advance
pos_trader
Just opened an account with them.Will inform once I get the login credentials tomorrow.
 

sanju005ind

Investor, Option Writer
#4
Yes.They do charge Less margin.However the ODIN Diet Charting software has very limited capabilities.But Brokerage is high.Hidden charges keep coming.Zerodha is clear on what they charge.
 
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#5
Hello Sanju

Thanks for your reply. You are the only one who has replied :confused:

About brokerage: Their website says Rs 20/- for options and 0.01% for FUT.. Did u pay more than this?
About hidden charges: Can you give TWO examples of this?

Thanks in advance
pos_trader
 

sanju005ind

Investor, Option Writer
#6
I traded two contracts of BN futures and one contract of Nifty.this was purely to test.In zerodha I would have been charged in total around 450-500/- wether i profited or lost.

Now here.
1520992372746.png

and then this

1520992387150.png


Normally Taxable value of supply is Brokerage.Then the previous image shows that it was added and then again calculated.In zerodha it would have been Just 60 Rupees.Here the 'Taxable Value of Supply" 771/-. Very outrageous.
 

ajeetsingh

Well-Known Member
#7
I trade in Cash with them.... occasionally
and i am paying around 0.03% as whole n whole charges there, of turnover. (Intraday MIS orders)
Like if I buy 100 shares @ 1000 and sell @ 1010
then turnover = 201000
Total I receieve = 1000-60.30 = 940/- (approx.)
Yes they do provide good leverage with tweak like normally I get 40x on all FnO shares in cash
But if volatility increases then 40x goes down to 25x (I noted this in case of JetAirways, Justdial etc)
 
#8
I traded two contracts of BN futures and one contract of Nifty.this was purely to test.In zerodha I would have been charged in total around 450-500/- wether i profited or lost.

Now here.
View attachment 24258
and then this

View attachment 24259

Normally Taxable value of supply is Brokerage.Then the previous image shows that it was added and then again calculated.In zerodha it would have been Just 60 Rupees.Here the 'Taxable Value of Supply" 771/-. Very outrageous.
Hello sir,

I also have account is Astha Trade, The taxable value of supply is Brokerage+Transaction Charges , it is already added in Contract Note. The purpose of this amount is to show only on how much amount GST is chargeable. It is not charged two times.
 
#9
@sanju005ind
Looking at the first attachments the brokerage works out to Rs 550/- (BNF total 4 txn, Nifty total 2 txn. BNF brokerage 400/- and Nifty 150/-).

This is based on 0.01% listed on their website. I wonder where the figure 771/- has come from? Did you arrive at this figure?

IMP: Did you keep F & O positions overnight and check the margin levied?

Thanks
pos_trader
 

sanju005ind

Investor, Option Writer
#10
The number 771 is for GST calculations only.However.The brokerage is high since for one contract of BankNifty Intraday it came to around 196. Where as other Zerodha or Fyers it would be 40/-. Here 2.46(0.001%) * 40 and both sides is 196 + Taxes is more. Intraday.
 

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