Currency Derivatives At NSE & MCX..!!!!!!!!!!!!

[TraderRavi]

Currency Derivatives At NSE & MCX

USDINR pair....

Lets say 1 lot (1000 USD) margin is 2500/- and brokerage is 10 per lot....
Now buy price is 45.0000 and sell price is 45.0500..
so profit = 50 /-
brokerage is 10 + 10 = 20/-
so balance profit = 30/-
now what are other charges in this transaction at nse and mcx...and what will be the final profit at nse and mcx.....?

thanks capri....

service tax ; 10.3% of brokerage = 2.06/-
sebi turnover fees : 0.0001% of turnover = 0.09/-

final profit = 27 - 28 /-
that means 2.5 paise move to breakeven ....10 tick or pips....

looks like 10 per lot brokerage is too much.....:annoyed:

 

[Capricorn]

Here u go...

https://rapidshare.com/files/1958111991/Levies-_-Charges.pdf

 

[Capricorn]

And they've got options a lot more liquid than ,most stocks.:lol:

 

[eXimius]

Can anybody say which brokers other than Geojit and RKglobal offers low brokerage in currency derivatives...

 

[visshu]

i have recently opened account with LKPonline they say 10/- on either side

 

[tradedatrend]

i have recently opened account with LKPonline they say 10/- on either side

Well SAS online offers Rs. 1 per lot / Rs. 9 per trade and Rs. 499 per month unlimited currency trade

RK Global offers too Rs. 1 per lot,

Not sure Rs. 10 per lot is how convenient for you

 

[visshu]

will talk about this with my broker

 

[sibu3168]

Now I am going to explain the currency funda.

I've account in currency with SAS, ZERODHS, RKSV, WC (Alice Blue) but operating only with SAS with 499/- scheme.

The charges in Currency future per crore is

STT --- NIL

Turnover Charges --------- 165
Service Tax on Turnover Charges (12.36%) --- 19.80

SEBI Charge ----- 20/-

Educational Cess --- 0.40
Higher Educational Cess --- 0.20

Stamp Duty - 50/- per day (as per my state) & if the volume is greater than or equal to 8 lots.

So the total charges per crore (excluding Stamp Duty) = 165 + 19.80 + 20 + 0.40 + 0.20
= 202/-

If I trade 1 crores per day, then my toatal charges will be = 202 + 50 = 252

So for first eight lots, the break even point will be around 1 paisa or 0.01.
After Eight lots, the breakeven point will be 0.0025 (just a tick).

After 8 lots, even 2 tick trade will be a profitable one.

 

[tradedatrend]

Now I am going to explain the currency funda.

I've account in currency with SAS, ZERODHS, RKSV, WC (Alice Blue) but operating only with SAS with 499/- scheme.

The charges in Currency future per crore is

STT --- NIL

Turnover Charges --------- 165
Service Tax on Turnover Charges (12.36%) --- 19.80

SEBI Charge ----- 20/-

Educational Cess --- 0.40
Higher Educational Cess --- 0.20

Stamp Duty - 50/- per day (as per my state) & if the volume is greater than or equal to 8 lots.

So the total charges per crore (excluding Stamp Duty) = 165 + 19.80 + 20 + 0.40 + 0.20
= 202/-

If I trade 1 crores per day, then my toatal charges will be = 202 + 50 = 252

So for first eight lots, the break even point will be around 1 paisa or 0.01.
After Eight lots, the breakeven point will be 0.0025 (just a tick).

After 8 lots, even 2 tick trade will be a profitable one.

in other words u can say, if u consider 499+50 (service tax on brokerage) + 1000 (rs. 50 x 20 days) = Rs. 1550 as your fixed expense per month, then your trading cost is just 1 tick / rs, 2.5 per lot


but for some people it could be very bitter pill, because they might enter in a trade to earn 2/3/4 pips, as total brok of 1 pip is very attractive, but in case of loss they might wait till infinity

 

[sibu3168]

in other words u can say, if u consider 499+50 (service tax on brokerage) + 1000 (rs. 50 x 20 days) = Rs. 1550 as your fixed expense per month, then your trading cost is just 1 tick / rs, 2.5 per lot


but for some people it could be very bitter pill, because they might enter in a trade to earn 2/3/4 pips, as total brok of 1 pip is very attractive, but in case of loss they might wait till infinity

First the total cost will be 499+50 + 1000(50 x20 days) = Rs.1550/- and the total statutory charges (depends on your volume). Total statutory charges is 1tick/1lot.

Second, It is not only very bitter pill for some people but most of the people. In fact, most of the people took profit in one or two ticks but in loss wait till infinity. It is true for every instruments be it currency, commodity, indices or even equity.

I've written it only for a query put forward by traderRavi and I am not advising it. Those who are in jobbing/scalping business might take interest in it. Again jobbing or scalping is a highly specialised job and require more skills than day trading or trading.

Hope it will clarify your doubt.