ICICI as it claims doesn’t always charge 0.75% on Equity delivery(mostly in my case).
I am not a big trader I keep investing small amounts and also not a daily trader but an occasional trader.
These are the various percentages at which my brokerage was charged at:
2.5, 0.78, 2.36, 0.91, 1.61, 1.9, 1.74, 0.75, 1.14, 0.94, 1.41, 1.37
If your trade is beyond 3300/- then the claimed 0.75% aplies to you else the transaction charges are always 25/- or 2.5% flat(for less than 1000).
This is the reply I got from their helpdesk. Apart for high fees rest of my experience is okay with me.
Don’t go by their claim of 0.75% consider the below facts. I am not sure whether to continue or not with ICICI direct. Can anyone evaluate with similar finings on HDFC Sec, 5 paisa and india bulls.
Following are the details on Brokerage Schedule:
*1) Minimum Amount to be Invested:
The
minimum order value(irrespective of the quantity or the price of the
scrip) required accepting an order on our web site is Rs.500.
*2) Brokerage on Cash Transaction:
*The general brokerage that is charged for delivery based trading is 0.75% of the trade value or Rs.25 whichever is higher.
For the transaction value less than Rs.1000 the flat brokerage of 2.5% will be applicable.
Service Tax @ 12.24% of brokerage and securities transaction tax @ 0.125% of trade value are in additional.
*3) Brokerage on Margin Transaction:
The brokerage applicable under the margin segment is 0.05% of trade value or Rs.15 whichever is higher.
Service
Tax @ 12.24% of brokerage and securities transaction tax @ 0.025% of
trade value for the sell transactions are in additional.
Also
note that the brokerage is calculated on the total trade value and not
on the Margin amount blocked. Further, brokerage under margin segment
is charged on both the transactions i.e. buy as well as sell.
*4) Brokerage on Spot Transaction:
The brokerage rate applicable for Spot transactions is Flat 1% of the transaction value.
Service Tax @ 12.24% of brokerage and securities transaction tax @ 0.125% of trade value are in additional.
*5) Brokerage on BTST:
The brokerage for BTST will be same as cash i.e. Rs.25 or 0.75% which ever is higher.
Service Tax @ 12.25% of brokerage and securities transaction tax @ 0.125% of trade value are in additional.
*6) Brokerage on Margin Plus:
The brokerage applicable under margin plus segment is 0.05% or Rs.15 whichever is higher.
Service
Tax @ 12.24% of brokerage and securities transaction tax @ 0.025% of
trade value for the sell transactions are in additional.
*7) Future and Options
Example a): If the customer buys a CONTRACT( futures OR options) then the customer would pay:
0.05% Brokerage of the transaction value(on each legs)+
12.24% Service Tax(of brokerage)+
0.017% STT only on the SELL transaction( does not require squaring off on the same day).