discount brokers
- Thread starter sumitalwar
- Start date
Yeah. Exactly. Just now browsed through their website and saw that even the colour patterns & a few layouts are the same.
However, they are TCM of MCX, where as Zerodha is only a TM. One more interesting point I found in MCX website is they are members in MCX from October 2004. Thats a long time.
Prakash.
However, they are TCM of MCX, where as Zerodha is only a TM. One more interesting point I found in MCX website is they are members in MCX from October 2004. Thats a long time.
Prakash.
Hi
I went through the site of action financial
There charges r very very reasonable. Just 1 paisa per trade. Don't know y it is too low.
Members please share ur experience.
Also like to know whenever a brokerage house flees is there any mechanisms with sebi to bring account holders money back.
Regards
I went through the site of action financial
There charges r very very reasonable. Just 1 paisa per trade. Don't know y it is too low.
Members please share ur experience.
Also like to know whenever a brokerage house flees is there any mechanisms with sebi to bring account holders money back.
Regards
@ovongus
I wanted the list to be kept to minimum but if you want you can also look at VPS,Compositedge,achivers,action,procon etc.
And i had not done very detailed analysis while mentioning those above.
Dont think if i have not mentioned vps then its bad its your own choice if you have good experince with any particular broker then stick with it.
I wanted the list to be kept to minimum but if you want you can also look at VPS,Compositedge,achivers,action,procon etc.
And i had not done very detailed analysis while mentioning those above.
Dont think if i have not mentioned vps then its bad its your own choice if you have good experince with any particular broker then stick with it.
Last edited:
Most of the brokers claiming to be transparent do put brokerage calculator on their sites for new clients to
evaluate their transaction cost. This makes the task of selecting a broker a bit easy for us as far as cost of
transaction is concerned. Beside variance in upfront fee( brokerage fee) one needs to look at STT, Transaction
Charges and Clearing Charges being charged by brokers. One easy way to find is just compare the Service Tax
component in their brokerage calculator. Service tax being charged on Brokerage and Transaction charges will
give you a clear idea about transaction cost. Based on this for I found following –
-------------------------------------
*For Furure Segment Service Tax on 1 cr – Zerodha -60.5, RKSV – 29,Composite -56, Achievers- 48.20, Smart
Trade -29.66, VPS -30.9, Procon-48.20.
*For Option segment – Zerodha -988.8, RKSV -885, Composite – 927, Achievers -927 ,Smart Trade -883, VPS
-772.5 and Procon 865.2.
*For Cash intraday – Zerodha -60.5, RKSV -43, Composite -56,Achievers -43.26 , Smart Trade-43.26,
VPS-41.50 and Procon -64.89.
*For currency service tax component is, Zerodha -55, RKSV-19.76 , Composite -38, Smart Trade-20, VPS
-19.77 and Procon -38.93.
evaluate their transaction cost. This makes the task of selecting a broker a bit easy for us as far as cost of
transaction is concerned. Beside variance in upfront fee( brokerage fee) one needs to look at STT, Transaction
Charges and Clearing Charges being charged by brokers. One easy way to find is just compare the Service Tax
component in their brokerage calculator. Service tax being charged on Brokerage and Transaction charges will
give you a clear idea about transaction cost. Based on this for I found following –
-------------------------------------
*For Furure Segment Service Tax on 1 cr – Zerodha -60.5, RKSV – 29,Composite -56, Achievers- 48.20, Smart
Trade -29.66, VPS -30.9, Procon-48.20.
*For Option segment – Zerodha -988.8, RKSV -885, Composite – 927, Achievers -927 ,Smart Trade -883, VPS
-772.5 and Procon 865.2.
*For Cash intraday – Zerodha -60.5, RKSV -43, Composite -56,Achievers -43.26 , Smart Trade-43.26,
VPS-41.50 and Procon -64.89.
*For currency service tax component is, Zerodha -55, RKSV-19.76 , Composite -38, Smart Trade-20, VPS
-19.77 and Procon -38.93.
calculation -For example ,If I trade 1 cr a day in future segment( total turnover for month is 20-22
Cr) Achievers/Procon – My charges for one month are Rs 500(fix)+ service tax 61.8 + Turnover Charges 390+
service tax-48.20 (20X438.20) =8764. So total amount works out to be -500+61.8+8764 =Rs 9325.8/-.
Same calculation with Zerodha/Composite – Assuming 10 trades a day- (10x20x20) = 4000 Brokerage+ Service
Tax Rs 494.4 + turnover Charges 440 + service Tax 54.38(440+54.38)= 494.38, (20494.38) =9887.6. So total
cost is = 4000+494.4+9887.6 =Rs 14382/-
Calculating same with VPS/RKSV/SMART TRADE – 1700+ service Tax -210.2+turnover Charges -250+ service
tax30.9(280.920)=5618. So total amount that I spend is 1700+210.2+5618= 7528.( saving of Rs 1800 over
Achievers/Procon and saving of over Rs 7000 over Zerodha/Composite)
Cr) Achievers/Procon – My charges for one month are Rs 500(fix)+ service tax 61.8 + Turnover Charges 390+
service tax-48.20 (20X438.20) =8764. So total amount works out to be -500+61.8+8764 =Rs 9325.8/-.
Same calculation with Zerodha/Composite – Assuming 10 trades a day- (10x20x20) = 4000 Brokerage+ Service
Tax Rs 494.4 + turnover Charges 440 + service Tax 54.38(440+54.38)= 494.38, (20494.38) =9887.6. So total
cost is = 4000+494.4+9887.6 =Rs 14382/-
Calculating same with VPS/RKSV/SMART TRADE – 1700+ service Tax -210.2+turnover Charges -250+ service
tax30.9(280.920)=5618. So total amount that I spend is 1700+210.2+5618= 7528.( saving of Rs 1800 over
Achievers/Procon and saving of over Rs 7000 over Zerodha/Composite)
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