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Are you having an account with Motilal Oswal and interested in investing in different currency pairs like the US Dollar, Euro, Yen? If yes, then here is the complete detail of the Currency brokerage in Motilal Oswal.
So as per this plan, as mentioned in the table, if you trade in futures for the 10 lots of currency pair of USD/INR, having a total turnover value of ₹50,000.
Here, the brokerage would be ₹25 (0.05*50,000).
On the other hand, to trade in options, Motilal Oswal brokerage is charged in lots, and hence you need to pay according to ₹100 per lot.
So, let’s say you trade in 10 lots of USD/INR currency pair, then here the brokerage would be ₹1000 (10*100).
Got it? Don’t worry if you did not. Please read along and you would most likely understand the Currency Brokerage in Motilal Oswal by the end of this quick review.
Other than the standard charges, the broker offers the Value Pack that gives options to traders to minimize their brokerage charges.
To activate this plan, you have to pay certain upfront charges and reap the benefit of trading at the minimum rate.
*In Currency Brokerage in Motilal Oswal, the maximum brokerage is in percentage, whereas the minimum brokerage is 1 paise in Value Pack.
To understand the above table or the whole concept, let’s break it into two cases below. But wait! Consider the gist of the story before jumping directly on the cases.
Suppose you opt for the Value Pack (VP5KLT) for the above trade. Here Currency Brokerage in Motilal Oswal is applied as:
For Currency Futures, the brokerage would be ₹15 (0.030%*50,000)
The Currency Options brokerage would be ₹150 (15*10)
Thus, you can save yourself from paying hefty brokerage with the Motilal Oswal Value Pack.
Now, apart from gaining a piece of basic information about the brokerage charges, it is good to know about the hidden fees and taxes imposed on trade.
To execute the trade in any segment, you need to pay STT, stamp duty, SEBI charges, etc.
So what is the total currency brokerage in Motilal Oswal?
Well, for this, look for other charges, or you can directly use the Motilal Oswal brokerage calculator. It helps you in getting the exact evaluation of the charges you end up paying to your broker.
No doubt, the broker imposes comparatively higher brokerage to trade in the currency segment but choosing the right plan can help you in increasing your overall profit from the trade.
So now, here comes the time to understand, calculate and take the shot! Make sure to use the brokerage calculator linked above.
By the way, feel free to get in touch with us in case you are looking to learn more about brokerage and maybe want some negotiated rate with the stockbroker:
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