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Online stock trading platforms brokerage structure comparison

1. As a trader one must make an endeavour to choose the best online stock trader in India failing which one will be filling brokers pocket. Negotiate, Negotiate, Negotiate is the only guru mantra to get the best brokerage deal as money saved is money earned. Do have a look at the online trading softwares. Indiabulls, Sharekhan and Reliance money have best software for day trading. Some brokerage houses charge for this software and some provides it free of cost. Reliance money (Insta Trade Software) is providing this software free whereas India bulls is charging Rs 750 for the said online stock trading software which goes by name of Power India Bulls software.

Tier I Brokerage Houses

BrokerDelivery IntradayMMC*Customer ServiceRemarks
Sharekhan 0.03%- 0.50%0.03% - 0.10%NILOKSpeedy platform for trading
ICICI direct 0.75% 0.15%PoorCostliest. Poor online trading platform
Reliance Money0.01%0.01%card SysytemGoodStarted late but threatening established players.
5 paisa 0.25% - 0.85% 0.07%-Poor
HDFC Securities 0.50%0.15%OKHard to negotiate.
Indiabulls 0.25% - 0.50%0.05% - 0.10%-OKSpeedy platform for trading
MMC*- Minimum monthly commitment. Do remember to negotiate the brokerage and read the fine print.

Tier II Brokerage Houses

BrokerDeliveryIntradayMMC*Customer ServiceRemarks
Religare0.20% - 0.30% 0.02% - 0.03%NilOK
Geojit 0.30%0.03%YesOK,Hidden ChargesLinked to minimum trading of Rs 2000 brokerage.
SBICAP Securities 0.50% 0.10%NilPoor
Angel Broking 0.50%0.02% - 0.03%NilOK
Anand Rathi0.50%0.02% - 0.03%NilOKNegotiable
Motilal Oswal 0.30% - 0.50% 0.03% - 0.15%NilOK

2. Geojit started with a media campaign of no hidden charges but on query it came to be known that one has to give them minimum Rs 2000 as brokerage per month.

3. Do remember to get additional information related to Online stock trading platforms for India and also read How to choose online stock trading platform in India to get the best brokerage as a day trader and long term investor.

4. Do remember that effective brokerage woks out to be more due to additional payment of  STT (Securities Transaction Tax) at the rate or 0.02% of the total transaction amount. One will also have to pay 12.5% Service Tax on the brokerage amount( Point here to note is that this amount is  not on the transaction amount) .

5. For example, if an individual brokerage charge is 0.50% for delivery and one undertakes the  delivery transaction of Rs.100/- (hypothetical case) then the total brokerage one pays is
0.50 (brokerage) + 0.02 (stt) + 0.063 (service tax) = 0.58 .

6. Thus the effective brokerage (including all taxes) will be 0.58%. Similarly one can calculate the brokerage for  intraday transactions. One must be very clear of the brokerage impact as a day trader as at times mental calculation need to be undertaken during the trading hours.

7. Do remember to check out the Sharekhan Tips and also use the above given tables to compare the Sharekhan brokerage before signing on that black line for opening the sharekhan demat account or their so called sharekhan trade tiger or sharekhan fast trade to have a seamless experience.

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