How to Use a Brokerage Calculator?
Calculating brokerage along with all sorts of taxes can be confusing, especially for beginners. First of all, there are different kinds of stock brokers in India, including:
Furthermore, there are various sorts of charges and taxes levied by these brokers at different levels of trading. And most of the times, the executives of these brokers are not very clear or explicit in mentioning all these various charges. Due to this gap, you may get a lot of surprises (read shocks) when you see the kind of cuts made by the broker and your final take away profit amount.
In order to simplify this process and to clear out any sort of confusions, we have introduced “Brokerage Calculators“. While developing the concept of brokerage calculator, we have made sure that all those different sort of charges are calculated and displayed so that it becomes very convenient for you to take a decision as far as selecting a stock broker is concerned.
These different types of charges include:
- Securities and Transaction Tax (also called STT)
- Stamp Duty
- Transaction Charges
- SEBI Turnover fees
- Goods and Services Tax (GST)
You just need to enter few field values and the developed Brokerage Calculator algorithm will perform all the calculations in a ziffy and display all the values to you right away. These fields include:
- Buy Price
- Sell Price
- No. of Shares
- Lot Size (in case of Options trading)
- Your State (to calculate Stamp Duty)
Ahead to that, this is required to be mentioned that a Brokerage Calculator can help you to calculate the brokerage charges and other taxes across different trading segments, that is:
- Equity Delivery
- Equity Intraday
- Derivatives (Future and Options)
Now, since you have got the understanding of why and how a brokerage calculator must be used. Lets move ahead and use these calculators based on any personal preferences you might have in terms of a stock broker. We have segregated these brokers into full service and discount brokers so that, you can pick and choose a broker based on your requirements.
Bank Based Stock Brokers
Based based stock brokers are the most expensive stock brokers across any type of payment. Be it account opening, maintenance charges or brokerage rates, any bank based stock broker will mostly stay the one with the highest rates.
In lieu of that, such brokers provide a “sense” of trust, decent customer service and wide range of trading products (although most of these bank based stock brokers do not allow commodity trading).
In order to understand more, you may click on any of the bank based stock broker below and see the different payments levied on your trades across segments:
Full Service Stock Brokers
Like bank based stock brokers, full service stock brokers fall in the expensive bracket, however, it also depends on your trading capital and overall stock market turnover. With higher initial capital, you have a chance of getting relatively lower brokerage rates although account opening and maintenance charges remain high.
At the same time, full service stock brokers are mainstream stock broking companies that provide a range of services including decent customer support, high performance trading platforms, free research, tips and recommendations to go along with multiple trading segments.
Click on any of the below displayed full service broker options to check out their respective brokerage rates.
Discount Stock Brokers
Discount brokers, as the name suggests, offer stock trading at cheaper rates of brokerage across all the trading segments. Few brokerage houses offer brokerage rates as low as ₹9 or ₹10 while the rest charge the maximum brokerage of ₹20, irrespective of your trade value. In other words, whether you trade for ₹10,000 or ₹1 crore, it does not really matter and the brokerage is going to be in the range of ₹10 to ₹20.
Apart from low brokerage, discount stock brokers offer low cost account opening and maintenance charges, decent performing trading platforms, multiple trading/investing products, reasonable exposure and so on.
Click on a discount broker of your choice and see what kind of charges the broker(s) charges:
If you are looking to open an account, you can provide your details in the form below: