Brokerage

#1
Some days back I bought and then sold Renuka Sugars qty 5025 at Rs 20.50. The brokerage charged by Angel brokers for intra day trades is 0.03 percent. As per this rate the brokerage should have been Rs 30.90. I was horrified to see that they charged me a brokerage of Rs 100.50 against this transaction. The staff were quite confused, and finally they told me that they work out the brokerage against the price of the stock, and if it is below a minimum, they charge at 2 paise per share. Thus .02 x 5025 works out to Rs 100.50. This is 3 times the brokerage normally charged. Is this fair practice or is it the norm ? Perhaps someone would clarify this aspect.

Regards
 
#2
Some days back I bought and then sold Renuka Sugars qty 5025 at Rs 20.50. The brokerage charged by Angel brokers for intra day trades is 0.03 percent. As per this rate the brokerage should have been Rs 30.90. I was horrified to see that they charged me a brokerage of Rs 100.50 against this transaction. The staff were quite confused, and finally they told me that they work out the brokerage against the price of the stock, and if it is below a minimum, they charge at 2 paise per share. Thus .02 x 5025 works out to Rs 100.50. This is 3 times the brokerage normally charged. Is this fair practice or is it the norm ? Perhaps someone would clarify this aspect.

Regards
As far as I know, it is fair practice. Share khan charges 5 paise per share as minimum or 0.03%......it looks like Angel is charging you far less brokerage :D
 
#3
Thanks Raasa. I agree many others are worse. But my point is one of logic. If the brokers do not get the minimum of 0.03% on a transaction (ie it is less), then they should charge 0.03%, but not say 0.09% which it works out to be when they charge 2 ps per share. That is 3 times more ! All the same if this is the norm we just have to lump it.

Regards
 

a1b1trader

Well-Known Member
#4
Hi

Why you traders do not open account and trade with Achiievers, RKSV, TSO, VPS like discount brokers who offer unlimited trading in equity and F&O for a monthly charges of 499 to 1947 INR.
 

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