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
Regards