RE: DP Charges

[alann_raghu]

Hi,
I recently opened an online account with Motilal Oswal.
I bought a total of 76 shares of India Bulls Real Estate and 3 of Tech Mahindra for a start, on Delivery basis.
I also did an Intraday trade of 140 (70 Bought/ 70 Sold) India Bulls Real Estate shares, in which I earned a profit of just 55/-.

My question concerns mainly the intraday trade, as I haven't sold any of the above mentioned shares from my demat holding which I bought on delivery.
I received today a Ledger/DP Statement wherein it showed I was charged an amount of 477/- towards "DP Charges for the month of February". Can anyone please tell me if this is right, or has there been any mistake on Motilal Oswal's part? Will I have to pay DP charges every time I carry out an intraday trade? Or is it possible that I have been charged for BUYING shares aswell?
If I'm going to be charged 477/- for a trade where I earned a profit of just 55/-..then it seems pointless to do any trades with MO.

Any help will be appreciated, Thank you.

 

[badarivt]

Should be annual charges. ICICI and Zerodha charge Rs 400 annual. Why do you not shift to discount brokers?

 

[alann_raghu]

Should be annual charges. ICICI and Zerodha charge Rs 400 annual. Why do you not shift to discount brokers?

Can the people at Motilal Oswal charge me AMC by writing it as "DP Charges" in the ledger? Also, I was told there's no charges for first year. I opened my MO account at start of this year's February.

 

[shyam.trivedi]

Hi,
I recently opened an online account with Motilal Oswal.
I bought a total of 76 shares of India Bulls Real Estate and 3 of Tech Mahindra for a start, on Delivery basis.
I also did an Intraday trade of 140 (70 Bought/ 70 Sold) India Bulls Real Estate shares, in which I earned a profit of just 55/-.

My question concerns mainly the intraday trade, as I haven't sold any of the above mentioned shares from my demat holding which I bought on delivery.
I received today a Ledger/DP Statement wherein it showed I was charged an amount of 477/- towards "DP Charges for the month of February". Can anyone please tell me if this is right, or has there been any mistake on Motilal Oswal's part? Will I have to pay DP charges every time I carry out an intraday trade? Or is it possible that I have been charged for BUYING shares aswell?
If I'm going to be charged 477/- for a trade where I earned a profit of just 55/-..then it seems pointless to do any trades with MO.

Any help will be appreciated, Thank you.

All Brokers debit DP AMC Charges annually as per the scheme selected by client at the time of account opening. Same is recovered from trading account ledger. May be you can speak to your sales executive or their customer care and get the details. You could change your DP scheme too if possible.