Zerodha, Angel One revises brokerage charges . Angel one up by 7%
Recently, SEBI issued a circular stating that market infrastructure institutions (MIIs) have to be “true to label” in the charges they levy from October 1st, 2024. This circular has an impact not only on brokers but also on trading and investing customers.
Following the circular, Angel One & Zerodha have revised the brokerage to their clients.
Nithin Kamath, co-founder of Zerodha stated in X (former twitter) that new brokerage starting from 1/10/2024 for Zerodha will be as follows :
For options: STT increases to 0.1% from 0.0625%, and transaction charge decreases to 0.035% from 0.0495%.
This results in the cost of trades seeing a net increase of 0.02303% or Rs 2303 per crore of premium on the selling side on NSE and of 0.0205% or Rs 2050 per crore on BSE.
For futures: STT increases to 0.02% from 0.0125%, and transaction charge decreases to 0.00173% from 0.00183%.
This results in a net increase of 0.00735% or Rs 735 per crore of futures turnover on the selling side.
Since STT is charged on the entire contract value for futures, whereas in options, it is charged only on the premium, the impact will be much larger for futures traders.
However, Equity Delivery will continue to be free at as of now.
Angel One also made changes in its brokerage fees . The new charges are mentioned below :
| Charge Type | Details |
|---|---|
| Securities Transaction Tax (STT) | – Sale of futures in securities: 0.02% (from 0.0125%) – Sale of options in securities: 0.1% of premium (from 0.0625%) |
| IPFT | – NSE Equity and NSE futures: Rs 10 per crore + 18% GST – NSE Equity options: Rs 50 per crore of premium + 18% GST – NSE Currency: Rs 2 per lakh of premium for options and 0.05 per lakh for futures + 18% GST |
| NCDEX Risk Management Fee | 0.10% (Rs 100 per lakh) on the premium value of every fresh overnight open interest position |
| Exchange Transaction | – MCX: Futures 0.00210%, Options 0.0418% (from 0.05%) – NSE: Cash 0.00297%, Equity futures 0.00173%, Equity options 0.03503%, Currency futures 0.00035%, Currency and interest rate options 0.0311% – BSE: Index/stock futures 0%, Sensex 50/Stock options 0.0050%, Sensex/Bankex options 0.0325% – NCDEX: Futures 0.005800%, Options 0.030000%, Guar seeds options 0.015000% |
| DP | Rs 20 + GST – Male: Rs 3.5 (Depository) + Rs 16.5 (Angel One Charge) + GST – Female: Rs 3.25 (Depository) + Rs 16.75 (Angel One Charge) + GST |
| Pledge/Unpledge | – Margin pledge/unpledge/invoke: Rs 20 + GST (Rs 5 (Depository) + Rs 15 (Angel One Charge) + GST) – MTF pledge/unpledge/invoke: Rs 20 + GST (Rs 12 (Depository) + Rs 8 (Angel One Charge) + GST) – CUSPA pledge/unpledge/invoke: Rs 20 + GST (Rs 5 (Depository) + Rs 15 (Angel One Charge) + GST) |
| Annual Maintenance | Rs 60 per quarter for Non-BSDA accounts from the second year onward |
| Cash Collateral Margin Shortfall | – Interest charge of 0.0342% per day for excess shortfall over Rs 50,000 |
Brokerage charges will be levied at a flat Rs 20 or 0.1% + GST, whichever is lower per executed order. A minimum brokerage of Rs 2 per transaction will be levied, the company said in a statement.
However, Angel One will not charge any brokerage for Equity Delivery transactions.
Following the change , the stock price of Angel One jumped to a maximum of 7% today.
Disclaimer:
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.