How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs. 800

#1
Kotak charges Rs. 500 on profit of Rs.800. How to make day trading work?

Hi,

I need your help in understanding if I am being charged correctly and how to make day trading work.

I recently purchased 100 shares of 'Bank of Baroda' at 730.5 and sold them 738.67. I thought I made a cool Rs. 800 minus a few rupees as Broker's fees.
It turned out that the broker's fees took a bite of over Rs. 500. and I received only Rs. 300 for taking all the risk!!

Step 1: Bought 100 shares of 'Bank of Baroda' at Rs. 730.5:
============================================================
Gross Rate: 730.5000
Brokerage rate per security: 1.4610
Net rate per security: 731.9610
Gross Value: 73050.00
Brokerage value: 146.10
Net settlement value: 73196.10

Other charges:
--------------
SERVICE TAX ON BROKERAGE 15.05
SERVICE TAX ON OTHER CHGS 0.75
STAMP & OTHER CHARGES 14.64
STT 91.00
----------
Final cost: 73317.54



Step 1: Sold 100 shares of 'Bank of Baroda' at Rs. 730.5:
===========================================================


(


Gross Rate: 738.6750
Brokerage rate per security: 1.4773
Net rate per security: 737.1977
Gross Value: 73867.50
Brokerage value: 147.73
Net settlement value: 73719.77

Other charges:
--------------
SERVICE TAX ON BROKERAGE 15.22
SERVICE TAX ON OTHER CHGS 0.76
STAMP & OTHER CHARGES 14.74
STT 92.00
----------
Final cost: 73597.05



Net profit: Rs. 279 Instead of theoretical Rs.800.



So I take risk of over Rs.70,000, make theroretical profit of Rs. 800 and The broker keeps Rs. 300, I lose another Rs.200 in taxes and other charges. And get to keep only Rs. 300.

How can I make this work?
 

Capricorn

Well-Known Member
#2
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

YOu can't make it work. U are being charged 0.2% brokerage. Way too high.:)
 

aditya14

Well-Known Member
#3
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

how the heck is that daytrading since u have got 20 paisa brokerage.This is a delivery which u took and u took 8 rs profit on a 730Rs scrip how do u expect to make a decent profit.8rs moves can be seen intraday so if u take delivery make sure u swing trade for at least 2 weeks or more.
 
#4
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

Your absolute gain was 1.11%.

Aditya 14 suggestion is spot on. Swing it more on positive side in delivery trade or else come and join future market.
 

nifty

Active Member
#5
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

Hello,

If you are have purchased and sold the shares on the same day then brorage is tooooooooooo high. If you have done delivery then that is fine.

For intraday trading brokarage should not be more than 73 rs for turnover of 73000 rs shares.

If you are intreseted in swing trading then I would recommed go for futures in which you will charged same as intraday but you can hold posistion from 1 day to till expiry date.

Happy Trading...

Trading Nifty Futures.
 

nifty

Active Member
#6
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

Hello,

Sorry I just read titel of the thread I discovered it is intraday trade in this case I will say they brokerage charged it too high. Please contact them and ask what is brokerage anfd negotiate to .04 % minimum.

Happy Trading...

Trading Nifty Future.
 
#7
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

Changing broker should help! depending upon requirements get the brokerage plan. 0.01 intraday is what i got!

thanks
achin
 
#9
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

Kotak charges Rs. 500 on profit of Rs.800. How to make day trading work?

Hi,

I need your help in understanding if I am being charged correctly and how to make day trading work.

I recently purchased 100 shares of 'Bank of Baroda' at 730.5 and sold them 738.67. I thought I made a cool Rs. 800 minus a few rupees as Broker's fees.
It turned out that the broker's fees took a bite of over Rs. 500. and I received only Rs. 300 for taking all the risk!!

Step 1: Bought 100 shares of 'Bank of Baroda' at Rs. 730.5:
============================================================
Gross Rate: 730.5000
Brokerage rate per security: 1.4610
Net rate per security: 731.9610
Gross Value: 73050.00
Brokerage value: 146.10
Net settlement value: 73196.10

Other charges:
--------------
SERVICE TAX ON BROKERAGE 15.05
SERVICE TAX ON OTHER CHGS 0.75
STAMP & OTHER CHARGES 14.64
STT 91.00
----------
Final cost: 73317.54



Step 1: Sold 100 shares of 'Bank of Baroda' at Rs. 730.5:
===========================================================


(


Gross Rate: 738.6750
Brokerage rate per security: 1.4773
Net rate per security: 737.1977
Gross Value: 73867.50
Brokerage value: 147.73
Net settlement value: 73719.77

Other charges:
--------------
SERVICE TAX ON BROKERAGE 15.22
SERVICE TAX ON OTHER CHGS 0.76
STAMP & OTHER CHARGES 14.74
STT 92.00
----------
Final cost: 73597.05



Net profit: Rs. 279 Instead of theoretical Rs.800.



So I take risk of over Rs.70,000, make theroretical profit of Rs. 800 and The broker keeps Rs. 300, I lose another Rs.200 in taxes and other charges. And get to keep only Rs. 300.

How can I make this work?
dear friend do u trade thro francicee of kotak securities or sub broker of kotak securities if so the gentleman has fooled u kotak charges a maximum of 5 paise for rs100 both legs ie for buying&selling please check up again or talk to the realationship manager of the branch
 
#10
Re: How to make Day trading work when broker (Kotak) charges Rs. 500 on profit of Rs.

I get a brokerage of .02%- only on one side- for intraday in commodities in Kotak.
 

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