Here you will find a table comparing intraday brokerage charges and delivery brokerage charges charged by different online brokers in India : Sharekhan, ICICIdirect, Motilal Oswal, Religare, SBICAP Securities, Angel Broking, 5paisa, Indiabulls, UTI Securities, HDFC Securities, Indiainfoline, Reliance Money. I constantly try to update this table and try to keep it upto date, so if you have any more information, please leave a comment. It is also important that you read the remarks below the table to get a complete picture.
|Online Broker ||Brokerage for Delivery ||Brokerage for Intraday trading ||MMC*|
|SBICAP Securities |
|0.50% ||0.10% ||NIL|
|0.03% - 0.50% ||0.03% - 0.10% ||NIL|
|Motilal Oswal |
|0.30% - 0.50% ||0.03% - 0.15% |
|5 paisa |
|0.25% - 0.85% ||0.07% |
|Angel Broking |
|0.50% ||0.02% - 0.03% |
|ICICI direct |
|0.75% ||0.15% |
|0.25% - 0.50% ||0.05% - 0.10% |
|HDFC Securities |
|0.50% ||0.15% |
|UTI Securities |
|0.80% ||0.15% |
|0.20% - 0.30% ||0.02% - 0.03% |
|Reliance Money |
|0.01% ||0.01% ||card system|
|0.50% ||0.10% ||-|
MMC=Minimum monthly commitment.
- Brokerage is usually negotiable: Several of you trying to choose an online broker and open an online trading account must have been frustrated trying to search for the exact brokerage charges charged by various online brokers. But the fact is the brokerage charged by the same broker varies and in several cases is negotiable. For example if you go and tell a brokerage house that you are going to deposit 2 lakh rupees and try to convince them you are going to trade heavily, they might consider reducing your brokerage. That is why in the above table you will find only a range for the brokerage charges in some cases. But that should be enough to get an idea.
- Effective brokerage with taxes is more: In addition to the above brokerage charges you will have to pay STT (Securities Transaction Tax) at the rate or 0.02% of the total transaction amount. You will also be charged 12.5% Service Tax on the brokerage amount (and not on the transaction amount). For example, if your brokerage is 0.50% for delivery and you do a delivery transaction of Rs.100/- then the total brokerage you pay is
0.50 (brokerage) + 0.02 (stt) + 0.063 (service tax) = 0.58 .
Thus your effective brokerage (including all taxes) will be 0.58%. Similarly for brokerage on intraday transactions.
- One may also like to compare brokerages charged by the online brokers mentioned above for trading in futures and options. I have traded options on SBICAP securities and have been charged Rs.100/- flat brokerage fee for every options trade. I will probably find out and also add a comparison table for brokerage charges for trading derivatives (futures and options) later, if i see enough people google searching for the same. For futures, some online brokers charge different brokerage for different legs of the trade, i.e. different for buy and sell trade.
- Except SBICAP Securities, I do not have any other trading account. So my information is gathered from indirect sources. In case there are any inacurracies please let me know by posting a comment.