Hi,
I am a Chinese trader considering trading NIfty index futures contracts. I am currently using Interactivebrokers to trade other Asian Pacific derivative products, very satisfied with their service.
Recently I found IB has begun to offer Indian products to non-Indian customers, and I found on their company's Indian website , there are the following offer of commisions of brokage of Indian futures products. Would someone be kind enough to comment what is their (IB's ) commision level compared to local brokerage ?
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India(1) (plus Securities Transaction Tax, Exchange Charges, and Service Tax)
=< 10 Crores(2) 0.035% INR 100 500 contracts x 50(3) x 3,356 = 84,125,000 x 0.035% = INR 29,400
10 =< 20 Crores(2) 0.025% INR 100 900 contracts x 50(3) x 3,356 = 151,425,000 x 0.025% = INR 37,856
=> 20 Crores(2) 0.015% INR 100 1,200 contracts x 50(3) x 3,356 = 201,900,000 x 0.015% = INR 30,285
the IB Indian website is here:
http://www.interactivebrokers.co.in/en/accounts/fees/commission.php?ib_entity=in