Cheapest Broker

Cheapest Broker


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#32
VPS CLOSEING Down run away ?

Dear Traders,

It has been nice association so far and we hope that you have enjoyed this relationship as much as we have. We at VPS have strived to provide you our best that we have to offer. Till date our product remains unique in the industry and as envisaged it has delivered value for every kind of trader. Our Customer Support Desk works hard to assist you in whenever you need them.

Off late we have seen erosion in retail participation in equity market and since last three month very low level of participation in MCX. Margin in broking business are under heavy pressure and slowly but surely this business is getting out of preference of business houses. We are also considering moving out of retail broking as margins are too low and in future we may see further pressure on already wafer thin margin. In view of this we are withdrawing our online discount broking product i.e. Rs 10 per trade with MAX CAP.

It is our advice to all our clients that they may stop creating new positions in their account and try to shift their position to their other accounts with any other broker. We do not wish to cause any inconvenience to any of our client and will request them to put their request to withdraw their deposit from their accounts thru back office. We would be glad to assist you in any manner that you want thru this process. You may open trading a/c with any other discount broker and shift your positions. Our customer support desk will be available till 30 Nov 2013.


Customer Support Team
VPS Share Company Pvt. Ltd.
Tel : 0121-4011788
Mob : 09219029380
 
#34
There are many drawbacks of Composite Edge, I am telling one here:

1. It has minimum contract charges is Rs 10. Adding tax into this become Rs 20. So everyone has to pay minimum Rs 20 as brokerage if you do a single trade of even Rs 100 or Rs 1000.

Definition of Contract Charge on their website:
Minimum contract charge is the minimum charges that will be levied in any contract. It is fixed at Rs.10/- per contract per segment.It is charged to cover our operational costs involved in processing a contract note.Please find below an illustration to explain the Minimum Contract charge.

Client 'A' does a transaction in BSE CASH segment & the brokerage charged for the day is Rs.5/-.We will charge another Rs.5/- as Minimum Contract charge for that particular day.
 
#38
THEY HAVE FEW CHARGES EXTRA :

1. STT IN F&O
2. BANK TRANSFER CHARGES ITS 15 /- + TAX AND ZERODHA TAKES ONLY 9/- + TAX

Code:
Securities Transaction Tax

As the name suggests itself, STT (Securities Transaction Tax) is one of the multiple taxes to be paid to the Central Government of India. STT is the tax payable on the transaction value of taxable securities. In other words STT is the tax applicable to the sale / purchase of Equities, Derivatives, Equity oriented fund units done by a recognized stock exchange in India and also to the sale of Equity oriented funds units to mutual funds.

Definition – “Securities”

“Securities” is defined in Section 2(h) of the Securities Contracts (Regulation) Act, 1956, to include:

Shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate
Derivatives
Units or any other instrument issued by any collective investment scheme to the investors in such schemes
Security receipt as defined in section 2(zg) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
Government securities
Such other instruments as declared by the Central Government
Rights or interest in securities.
Applicability

STT is applicable on the various securities as explained above and it applicability varies with the type of security and the transaction type (Buy / Sell)

STT applicable on Equities

Intraday: 0.0125% of Turnover by the seller.
Delivery: 0.10% of Turnover by both buyer & Seller.
STT applicable on Derivatives

Futures: 0.01% of Turnover by the seller
[Note: STT rate on Sale of Futures in securities has been revised from 0.017% to 0.010% via the 2013 Budget. Revised rated would be effective 1st June 2013]

Options: 0.017% of the premium by the seller
Options: 0.125% of the Settlement Price i.e. (Number of Lots * Lot Size * Strike Price), in case of option exercise by the purchaser
[Note: Options: the STT is 0.125% of the settlement price (number of lots * lot size * settlement price) in case the option is exercised by the purchaser and the Option is an In-The-Money Option]

STT applicable on Equity Oriented Funds

Applicable at the rate of 0.25% by the seller
Summary of the STT rates is given in the table below

Product
Transaction
STT rate
Charged on
Equity-Delivery	Buy
Sell	0.1%
0.1%	Turnover
Turnover
Equity-Intraday	Buy
Sell	N/A
0.025%	N/A
Turnover
Futures	Buy
Sell	N/A
0.01%	N/A
Turnover
Options	Sell
Buy	0.017%
0.125%	Premium
Settlement price on exercise
Equity-Fund Units	Sell	0.25%	Transaction Value
In case of Commodities, it is known as the Commodities Transaction Tax (CTT).

In his 2013-14 Budget speech, Finance Minister P. Chidambaram had stated that CTT — on the lines of the Securities Transaction Tax (STT) in the capital market — would be levied on non-farm items to be paid by the seller only in futures trading. Thus CTT is applicable on Futures in commodities (except exempted agricultural commodities) at the rate of 0.01% of the turnover payable by the seller.

Rebate in Income Tax

STT paid rebates are to be allowed in computing one’s income-tax as per section 87 in accordance with and subject to the provisions of 88E: Rebate in respect of securities transaction tax.

Link: http://law.incometaxindia.gov.in/DIT/    (Search for Section 88E)

STT Certificate

A certificate known as Form 10dB can be obtained from the member of the recognized stock exchange and can be claimed under the above rebate for the purpose of Income Tax

Link: http://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form10DB.pdf

Important links for STT / CTT By Recognized Exchanges

http://www.nseindia.com/products/content/derivatives/equities/sec_tranc_tax.htm
http://www.bseindia.com/markets/derivatives/derireports/STT.aspx?expandable=6
http://www.mcxindia.com//Uploads/ExchangeCircular/2013/June/English/Circular222-2013.zip
The post Securities Transaction Tax appeared first on RKSV.
FOR COMPOSIT

Code:
Account Opening Charges	Rs.300/- for Online Application
Rs.500/- for Request an Application.
Service Tax	12.36% On Brokerage and Transaction charges
Transaction Charges	0.0045% on Cash and Futures segment
0.075% on premiums for Options 
0.003% on Currency Futures.
Stamp Charges	Rs.50/- or 0.01% whichever is lower on turnover as per Govt. of Karnataka
SEBI Fees	0.0001% on Cash,Futures,Options and Currencies
Security Transaction Tax	0.1% on Cash Delivery (Buy or Sell)
0.025% on Cash Intraday on Sale. 
0.017% on Futures on Sale.
0.017% on Options on Sale(on Premium only)
Minimum Contract Charges	Rs 10/- per segment.
Online trade confirmation	Free
Online account statement	Free
Paper account statement / confirmation	Rs.50/-
Paper duplicate trade confirmation	Rs.50/-
Paper duplicate account statement	Rs.50/-
Online Funds Transfer to us	Rs.15/- per transaction.
Funds Pay-out Charges	Free
Cheque withdrawal	Free (Courier Charges Rs.30/-).
Cheque Bounce Charges	Rs.100/-.
Account closing fee	Free .
Account maintenance fee	Free .
Inactivity fee	Free .
E-Contract Note( Digitally signed)	Free .
Physical Contract Note	Rs.50/- per contract.
Any other Statements	Rs.50/-
Penalty on Delivery Shortage towards Sale	As per exchange rules.
Delayed Payment	18% p.a.
Inter Settlement Charges	Rs.15/- + Service Tax(Including CDSL Charges)
DP AMC, Transaction Charges	As per DP Rate Sheet Click Here.
Penalty on Margin Shortage in F&O	As per Exchange debit at actuals.
CAN ANYBODY ENLIGHT TO THE FACT?
Hi!

STT(Securities transaction tax) is a mandatory charge.Brokers cannot charge according to their will or wish.Every broker needs to charge the same way.You are right with the transfer charges,but one can transfer through HDFC BANK,aXIS BANK,iCICI Bank & Kotak bank free of charges using NOW software(Trading platform)

Cheers!!
 
#39
Cant thank enough Traderji for putting up this splendid platform... I have recently signed up for 1p and 18rs for intraday cash and options respectively and 10 p for delivery cash also 18 Rs both ways for options delivery...they will return 7.5k access fees if generate similar brokerage in 1 year...is it a good deal? Considering I am just a begginner....
 

akhill

Well-Known Member
#40
Cant thank enough Traderji for putting up this splendid platform... I have recently signed up for 1p and 18rs for intraday cash and options respectively and 10 p for delivery cash also 18 Rs both ways for options delivery...they will return 7.5k access fees if generate similar brokerage in 1 year...is it a good deal? Considering I am just a begginner....
1 paise is ok. 18 rupees is a little bit on the heavier side, but they might reduce that once you do enough trading.

Regarding 7.5K access fees, you shouldn't have accepted for that being a beginner. Nevertheless, if you plan to trade regularly, you can make 7.5K brokerage in a 6 month period.. so don't worry u ll get ur money back.
 

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