Zerodha....

[Zerodha]

I think you are making some mistake while doing the calculations.

As per the contract note that i recieved after doing a intraday trade in bank nifty have the charges as below

1. Transaction Chrgs - 27.68
2. Service Tax - 6.77
3. STT - 44.00
4. H.Edu Cess - 0.03
5. Stamp. Chrgs - 50.00
6. Sebi charges - 0.51
7. brokrage - 40.00

So the total comes around 170 rs which is near to 7 banknifty points.

Oops sorry... Stamp duty I calculated on the old charges(5rs)... if you trade only 1 lot for the whole day, then what you mentioned is right ( 45 rs more for the stamp duty)......But if you trade 1 lot 5 or 6 times a day, then what I mentioned would be right, because the max stamp duty per day is Rs 50...

Cheers...

 

[DataRam]

Banknifty @ 10230,

Margin required today for intraday: 9900( around 10k)
Margin required to keep it overnight: 27500

The good thing about stamp duty in Karnataka is that the max stamp duty per day is Rs 50... Unlike other states it is not an open thing(can vary from Rs 200 to Rs 1000 per crore) and because we have our office only in Bangalore all our clients would get this benefit....

If you buy and sell 1 lot( buy at 10230 sell at 10250)
Total cost(including all charges) : Rs 123.3( 4.93 pnts to breakeven)

buy and sell 2 lots: Rs 202.5 ( 4 pnts to breakeven)

3 lots: Rs 281( 3.76 pnts to breakeven)

4 lots : 3.6pnts

10 lots : 3.3

Can go as low as 3 points if you take bigger than 10lots at a time position...

The charges mentioned are your only charges, you will never get to see any other charges on our ledger(unlike a lot of other brokers) other than what is applicable on the contract notes..

Thanks @ Zerodhaonline for your very lucid explanation . I have got my answer very well. I always tend to trade according to break-even requirement and you have cleared my doubt wonderfully.

Thanks Again
Regards.

 

[SCF]

nice new competitor!

 

[onlinegtrash]

@zerodhaonline

I have a technical question.

I learned NSE supports FIX protocol, since you guys use NSE servers...
is it possible to write algo trading code using FIX protocol (!)...

am just wondering about this possibility.

 

[xxdiesel]

I think you are making some mistake while doing the calculations.

As per the contract note that i recieved after doing a intraday trade in bank nifty have the charges as below

1. Transaction Chrgs - 27.68
2. Service Tax - 6.77
3. STT - 44.00
4. H.Edu Cess - 0.03
5. Stamp. Chrgs - 50.00
6. Sebi charges - 0.51
7. brokrage - 40.00

So the total comes around 170 rs which is near to 7 banknifty points.

Those are your charges for buying and selling 1 unit of Bank Nifty?

 

[xxdiesel]

Every contract note has to be stamped by the state government... Stamp duty according to karnataka stamp duty is 0.01% with a maximum stamp duty per day of Rs 50... Other states have no ceiling on how much stamp duty can be charged... Can vary between Rs 200 crore to Rs 1000 per crore... Cheers..

This is very interesting. I just looked at a contract note that I received from my Kotak Securities trade and they haven't charged any stamp duty at all.
I am thinking if I switch to Zerodha, I will be paying additional 50 rupees per trade.:annoyed:

Say, i purchase 1 share of Cipla at 300 and sell it at 350. I pay 40 rupees to Zerodha and on top of that another 50 rupees for stamp duty??

 

[rakesh.from]

i had a horrible phone trading experience with zerodha .today i give them a call to square my open position anda also remove all the panding order at 12.30 pm . But just remove all pending order but didnt square open positiom. Causing me 16000 rs. When i call then about that they dont clear that problem and after that they didnt pick my phone also.

 

[ashwinskariaabraham]

Dear Zerodha,

Its super. Hope to start trading by tomorrow. Just waiting for funds to reach my trading account. I have a few doubts

1) When will NSE NOW be linked with SBI?
2) If i want to transfer money to my trading account, i should login to the bank account linked to the trading account and transfer money to A/c No 05230340001348 via NEFT. Isnt that right
3) Today afternoon 2 pm i transfered Rs100 ( as a precaution experiment ) in the above said manner to the above A/c No, by when will it be credited to my trading account and where will it show up

 

[absolute.zero]

Hi zerodhaonline....

There appears some confusion on the issue of Stamp duty which needs clarification. I am putting an example -

Suppose, I bought 5 lots of Nifty Call Options @ Rs 50, and sold all 5 lots @ Rs 51. Both transactions done in one trade , each for buy and sell. Also, assume that I did these trades on same day and didn't do any other trades on that day. Then, as per old calculator, the charges are -

Brokerage = 40
STT = 2.15
Transaction charges = 20.20
Stamp duty = 0.25
Service tax = 6.02
Education cess = 0.12
Higher education cess = 0.06

Total Charges = 68.80
MTM = 250
Net Profit = 181.20

What will be scenario with new rules of stamp duty in this case. Please elaborate/ calculate Net profit n new scenarion.

 

[Zerodha]

@zerodhaonline

I have a technical question.

I learned NSE supports FIX protocol, since you guys use NSE servers...
is it possible to write algo trading code using FIX protocol (!)...

am just wondering about this possibility.

hmmm... don't know of anyone who has done this... any information that I can provide you that can help you with your query?? ....