Which broker provides lowest brokerage in FnO? Any body having less than 4 paise ?

[NIFTY_TRADER]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

Hi guys,

Need your help. I trade in FnO mainly in nifty futures but i m having to pay a lot of brokerage everyday , i.e 4 paise for buy leg and 4 paise for sell. total 8 paise and about 100 rs of other taxes which go to govt. Can any body suggest me any broker who can provide less than 4 paise . I would be really greatful for your help

RKSV is the best broker:thumb:

you will save thousands of rs on brokerage.:clapping:

 

[NIFTY_TRADER]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

you can also consider interactive brokers they charge 0.01% for futures.
regards,
m prakash

RKSV is the best broker

you will save thousands of rs on brokerage.
:clap:

 

[strongBuddy]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

yes if you trade only one lot and your brokerage is aobut 20 rs.. then u wud end up paying about 170 rs in total for one transaction..

please tell me whether this is the case with zerodha....i mean after paying Rs40 for buy and sell, we my end up 170 around?....is that what you came to say?

 

[a1b1trader]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

please tell me whether this is the case with zerodha....i mean after paying Rs40 for buy and sell, we my end up 170 around?....is that what you came to say?

Yes roughly 170 for one lot of Nifty in future trading.
You know, there are many other charges beside brokerage like, service tax, STT charges (on sell only), transaction charges, stamp duty and all these make a good amount for both legs (buy and sell). At zerodha stamp duty is 0.01% with a maximum of 50 INR per contract note.
However, if you trade options then the total charges are very less as compared to futures.

 

[strongBuddy]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

Yes roughly 170 for one lot of Nifty in future trading.
You know, there are many other charges beside brokerage like, service tax, STT charges (on sell only), transaction charges, stamp duty and all these make a good amount for both legs (buy and sell). At zerodha stamp duty is 0.01% with a maximum of 50 INR per contract note.
However, if you trade options then the total charges are very less as compared to futures.

then it appears that RKSV fares better than Zerodha.... am i correct?

 

[a1b1trader]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

then it appears that RKSV fares better than Zerodha.... am i correct?

Yes RKSV is better if you do more than 10 trades (not lots) on an average per day. Because RKSV charges 1947 as upfront brokerage only per month plus all other charges extra, also their transaction charges are lower than zerodha but stamp duty may be more (zerodha is maximum 50 INR per contract). So you have to do some homework/calculation before you decide.

 

[strongBuddy]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

Yes RKSV is better if you do more than 10 trades (not lots) on an average per day. Because RKSV charges 1947 as upfront brokerage only per month plus all other charges extra, also their transaction charges are lower than zerodha but stamp duty may be more (zerodha is maximum 50 INR per contract). So you have to do some homework/calculation before you decide.

i was trading minimum one to maximum three trades per day. from a minimum of 5 lots to 20 lots each. occasionally buy and hold Nifty options or stock options based on trend. but this is rare.

I am trading with IIFL. they charge Rs.80/- per lot of Nifty options for both buy and sell and sometimes 1 or 2 rupees more. i paid heavy brokerage with IIFL. later i reduced the number of lots to only one.

i thought that with zerodha if i trade 5 or more lots i will end up paying only RS.40+some charges per trade(i thought that these extra charges will be around Rs.10). forgive me if you find me to be an ignorant.
so , on an average let's say i am day trading 40 trades per month. most of the time they are Nifty Options.

quitting india infoline will be good for me.

now i have to choose between zerodha and RKSV.

with zerodha i was thinking that for 40 trades i will be paying Rs.1600+charges
which will make it around Rs.2000/- and nothing more at all to anyone.

with RKSV i thought that per month i will pay Rs.1947 + 240.65(service tax) and nothing more at all to anyone and do
unlimited number of trades with unlimited number of lots in F&O or stock options.

First of all am i right?

what's your suggestions for me. if you want any more info about my trading please ask. i will tell about that to you so that you can make better suggestions.

 

[a1b1trader]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

i was trading minimum one to maximum three trades per day. from a minimum of 5 lots to 20 lots each. occasionally buy and hold Nifty options or stock options based on trend. but this is rare.

Lots are immaterial for calculation, I couldn't get you want to trade future or options or both. Then what is rare, trade in options, it doesn't matter.

I am trading with IIFL. they charge Rs.80/- per lot of Nifty options for both buy and sell and sometimes 1 or 2 rupees more. i paid heavy brokerage with IIFL. later i reduced the number of lots to only one.

The charges of these brokerage houses are very high.

i thought that with zerodha if i trade 5 or more lots i will end up paying only RS.40+some charges per trade(i thought that these extra charges will be around Rs.10). forgive me if you find me to be an ignorant.

You mean 20 + 20 (for buy and sell each) Ok. Then (these extra charges are no small amount, see below)

so , on an average let's say i am day trading 40 trades per month. most of the time they are Nifty Options.

quitting india infoline will be good for me.

now i have to choose between zerodha and RKSV.

with zerodha i was thinking that for 40 trades i will be paying Rs.1600+charges {why 1600, won't it be 800 (40 x 20 = 800)} plus charges
which will make it around Rs.2000/- and nothing more at all to anyone.

with RKSV i thought that per month i will pay Rs.1947 + 240.65(service tax) and nothing more at all to anyone and do
unlimited number of trades with unlimited number of lots in F&O or stock options.
(you have to pay other charges other than service tax also) with RKSV (see below)

First of all am i right?

what's your suggestions for me. if you want any more info about my trading please ask. i will tell about that to you so that you can make better suggestions.

Please check the answer to your various queries in blue above, first.

Let me tell you the basic difference between RKSV and Zerodha charges.
RKSV asks for an upfront payment of 1947 INR per month (no more brokerage) plus other statutory charges like service tax, STT etc. etc. And you can do unlimited equity and F&O, no extra brokerage will be charged but other charges will be applicable as per rules. The 1947 INR, you can say, is total brokerage per month but this amount is not inclusive of all other charges, which will be extra.

While Zerodha is not charging any monthly charges but charges 20 INR per trade (one leg only either buy or sell) and in one trade you can trade as much as you can, no limit. 1 lot, 10 lots, 1000 lots. 100 shares, 10000 shares, no limit but other statutory charges will be charged extra. One trade is either buy or sell and not both at a time. Buy and sell will be counted as two trades.

You must understand the other charges factor, the total of these other charges is not a small amount for future trading. For 1 lot nifty future while the brokerage will be 40 INR {20 (for buy) + 20 (for sell)}other charges will be about 130-140 which will be charged extra both by zerodha and by RKSV as well. It is not that RKSV will not charge these other charges extra.

However for options the other charges factor will be much smaller as compared to future trading. For example yesterday I sold a few lots of options in 3 trades, total value 95430 INR and paid 179 as other charges including 60 as brokerage, 77 as turnover charges and 17 each as STT and service tax)

While zerodha charges some higher turnover charges, the turnover charges of RKSV is on the lower side. The difference is perhaps 200 -250 INR per crore. You can check it from their websites.

The stamp charges with zerodha is 0.01% or 50 INR per contract note (of the total trades of the day) whichever is lower. That mean zerodha will charge maximum 50 INR as stamp charges. While RKSV charges a fix stamp duty (check their website), no maximum like zerodha.

For more details you can visit their websites and use their brokerage calculators. Even in traderji forum both have their threads, so you can get review or other information from these threads also.

I think, if you suppose to do more than 90-95 trades (buy/sell) per month (20 trading days on an average), then choose RKSV otherwise zerodha. Its your choice.

I hope I answered your queries, if any one remains, do post here and will try to answer.

 

[Raju]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

a1b1trader,

With Zerodha if you buy bnf futures say 5 or more lots
and sell 1-2 at a time..so your executed orders would increase and hence your brokerage also ?

 

[a1b1trader]

Re: Which broker provides lowest brokerage in FnO? Any body having less than 4 paise

a1b1trader,

With Zerodha if you buy bnf futures say 5 or more lots
and sell 1-2 at a time..so your executed orders would increase and hence your brokerage also ?

Yes, I know that.
Thats what I was pointing above. Brokerage is per trade and not per lot.
Suppose if one buys 10 lots in one go and sells 2 lots at a time (say total 10 lots in 5 trades) then total brokerage will be for 6 trades (1 buy + 5 sell).