Brokerage Charges Comparison with Example

#1
Dear friends,
I am trading with ICICIDIRECT and would like to mention the brokerage charges levied for intraday and cash buy. Also would like to know how much money I could have saved with discount broker brokerage, my intraday brokerage is 0.03% & cash is 0.3%


Intraday trade done on 23/10/2013 in BIOCON
Brokerage charges levied on Buy & Sell:
Buy:
Bought 1000 units @337.14 price:
Valuation price for charges: 337.57
Value for Charges : 337570
Transaction & SEBI Turnover Charges = 12.14 + Stamp Duty = 20.23
Avg Execution Price for Order 337.14
Value for Brokerage: 337140
Brokerage + ST @12.36% (0.03% brokerage) = Rs.113.64
Total Brokerage: 12.14+20.23+113.64 =146.01 /-

Sell:
Sold 1000 units @338 price:
Valuation price for charges: 337.57
Value for Charges : 337570
STT= 84 + Transaction & SEBI Turnover Charges = 12.17 + Stamp Duty = 20.28
Avg Execution Price for Order 338
Value for Brokerage: 338000
Brokerage + ST @12.36% (0.03% brokerage) = Rs.113.93
Total Brokerage: 84+12.17+20.28+113.93 = 230.38/-

Profit Before Brokerage: 338000 – 337137.65 = 862.35
Total Brokerage = 146.01+230.38 = 376.39
Net Profit after Brokerage = 485.96


Intraday Charges above brokerage as per ICICI DIRECT WEBSITE:
Service Tax (ST), Securities Transaction Tax (STT), SEBI turnover charges ,Transaction Charges(inclusive of Service tax) and Stamp duty will be charged in addition to brokerage as follows:
• Service Tax (ST)will be charged at 12.36% on total value of brokerage.
• Securities Transaction Tax (STT) at 0.025% on turnover(Sell transactions only).
• SEBI turnover charges at 0.0001% on turnover.
• Transaction Charges will be charged @ 0.0031% for NSE and 0.0035% for BSE on turnover. Applicable Service Tax would be charged over & above Transaction charges.
• Applicable State wise Stamp Duty would be levied on turnover.
• All Margin positions pending for delivery would be levied brokerage equivalent to Cash segment.
• Any Margin position converted to delivery would attract brokerage equivalent to Cash segment.
• The minimum trade value accepted is Rs. 200.
• For Margin positions taken under "Client Mode", the Brokerage and Other charges of Cash Segment will be applicable.
• Interest on Late Payment will be charged @ 0.065% per day on all delayed payments beyond pay-in date for positions taken under Margin - Client Square Off mode.



Similarly I did one Cash Delivery on 22/10/13 for SINTEX IND
Buy:
Bought 1000 units @33 price:
Valuation price for charges: 33
Value for Charges : 33000
STT=33 + Transaction & SEBI Turnover Charges = 1.19 + Stamp Duty = 1.98
Avg Execution Price for Order 33
Value for Brokerage: 33000
Brokerage + ST @12.36% (0.3% brokerage) = Rs.111.24
Total Brokerage: 33+1.19+1.98+111.24=147.41

Even though the post is long, to make things simple, i think all discount brokers need to apply the statutory taxes (STT, SEBI Turnover, STAMP DUTY etc) I am from Chennai and in stamp duty its mentioned as per state. So i can maximum save on brokerage rate only? am i right?
 
#2
Dear friends,
I am trading with ICICIDIRECT and would like to mention the brokerage charges levied for intraday and cash buy. Also would like to know how much money I could have saved with discount broker brokerage, my intraday brokerage is 0.03% & cash is 0.3%


Intraday trade done on 23/10/2013 in BIOCON
Brokerage charges levied on Buy & Sell:
Buy:
Bought 1000 units @337.14 price:
Valuation price for charges: 337.57
Value for Charges : 337570
Transaction & SEBI Turnover Charges = 12.14 + Stamp Duty = 20.23
Avg Execution Price for Order 337.14
Value for Brokerage: 337140
Brokerage + ST @12.36% (0.03% brokerage) = Rs.113.64
Total Brokerage: 12.14+20.23+113.64 =146.01 /-

Sell:
Sold 1000 units @338 price:
Valuation price for charges: 337.57
Value for Charges : 337570
STT= 84 + Transaction & SEBI Turnover Charges = 12.17 + Stamp Duty = 20.28
Avg Execution Price for Order 338
Value for Brokerage: 338000
Brokerage + ST @12.36% (0.03% brokerage) = Rs.113.93
Total Brokerage: 84+12.17+20.28+113.93 = 230.38/-

Profit Before Brokerage: 338000 – 337137.65 = 862.35
Total Brokerage = 146.01+230.38 = 376.39
Net Profit after Brokerage = 485.96


Intraday Charges above brokerage as per ICICI DIRECT WEBSITE:
Service Tax (ST), Securities Transaction Tax (STT), SEBI turnover charges ,Transaction Charges(inclusive of Service tax) and Stamp duty will be charged in addition to brokerage as follows:
• Service Tax (ST)will be charged at 12.36% on total value of brokerage.
• Securities Transaction Tax (STT) at 0.025% on turnover(Sell transactions only).
• SEBI turnover charges at 0.0001% on turnover.
• Transaction Charges will be charged @ 0.0031% for NSE and 0.0035% for BSE on turnover. Applicable Service Tax would be charged over & above Transaction charges.
• Applicable State wise Stamp Duty would be levied on turnover.
• All Margin positions pending for delivery would be levied brokerage equivalent to Cash segment.
• Any Margin position converted to delivery would attract brokerage equivalent to Cash segment.
• The minimum trade value accepted is Rs. 200.
• For Margin positions taken under "Client Mode", the Brokerage and Other charges of Cash Segment will be applicable.
• Interest on Late Payment will be charged @ 0.065% per day on all delayed payments beyond pay-in date for positions taken under Margin - Client Square Off mode.



Similarly I did one Cash Delivery on 22/10/13 for SINTEX IND
Buy:
Bought 1000 units @33 price:
Valuation price for charges: 33
Value for Charges : 33000
STT=33 + Transaction & SEBI Turnover Charges = 1.19 + Stamp Duty = 1.98
Avg Execution Price for Order 33
Value for Brokerage: 33000
Brokerage + ST @12.36% (0.3% brokerage) = Rs.111.24
Total Brokerage: 33+1.19+1.98+111.24=147.41

Even though the post is long, to make things simple, i think all discount brokers need to apply the statutory taxes (STT, SEBI Turnover, STAMP DUTY etc) I am from Chennai and in stamp duty its mentioned as per state. So i can maximum save on brokerage rate only? am i right?
The difference is of 2 things only.
Brokerage and turnover or transaction charges.
Brokers earn by these 2 methods only.
Rest all is same for all, STT,CTT,service tax, SEBI fees, and stamp duty according to state.
Some brokers charge stamp duty according to their main office location rather than where the client is situated or which state brach the client is opening the account which is wrong.
 
#3
Zerodha Calculator shows it should be 160.21/- for the same amount of transactions. And i got charged Rs.376/- almost double ... but i find icici more easy in ways of allocation of limits and funds transfer, coz i heard in other brokers the bank is different and every time the funds need to be transferred from bank to trading account.. The three in one icici account seems comfortable to me,,
 
#4
Zerodha Calculator shows it should be 160.21/- for the same amount of transactions. And i got charged Rs.376/- almost double ... but i find icici more easy in ways of allocation of limits and funds transfer, coz i heard in other brokers the bank is different and every time the funds need to be transferred from bank to trading account.. The three in one icici account seems comfortable to me,,

Charges is something that we should take into account to remain profitable in such an unpredictable market. I would suggest you try out with some of the discount broking houses like Achiievers, etc and trust that you would be a gainer in the long run. You are paying a very hefty amount for just having comfort of transferring funds.....not viable.....these days all are trying to save money and ready to do away with so called comforts.

Just my suggestion and nothing personal on this.

Happy trading.:thumb:
 
#5
Thank you very much my friend, but please clear my doubt are the other brokers reliable with their credibility and software / website uptimes, and easy trading facilities, i am a total newbie also i am investing my earnings to the tune of 1-2 lakhs hence i thought that even though brokerage is high icici is reputed name , once i become familiar with trading i will open account with another broker, hope we can have two dmat accounts with two diff brokers,,,
 
#6
Thank you very much my friend, but please clear my doubt are the other brokers reliable with their credibility and software / website uptimes, and easy trading facilities, i am a total newbie also i am investing my earnings to the tune of 1-2 lakhs hence i thought that even though brokerage is high icici is reputed name , once i become familiar with trading i will open account with another broker, hope we can have two dmat accounts with two diff brokers,,,
You are right being new investor or otherwise also, safety is must, go with trusted brands may be you can go ICICI or Sharekhan. You can have more than one dmat account with different brokers just like bank account.
 

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?