You can trade in the equity intraday by choosing any of the plans. With the standard plan, the broker offers the range of 0.05% to 0.01%. However, you can reduce these fees up to 0.007% with Motilal Oswal Value Pack.
Here is a brief data that has been tabulated below to make the understanding of brokerage charges intraday easier to understand.
You also have the option to use the call and trade facility from Motilal Oswal. When you use this, you don’t need to place the trade yourself across any of the segments. You just need to call up the broking company or your local sub-broker and they will place the trade on your behalf.
Rest assured, none of the trades you place can be done without your confirmation as each of the calls made to the sub-broker get recorded.
Raman opens a trading account with Motilal Oswal and trades in the shares of Infosys. He bought 100 shares of INFY @₹940 each. The total turnover of the trade is ₹1,96,000.
He opted for the Standard plan with a margin of ₹15,000. According to the brokerage, he estimated the charges of ₹95.
But the actual brokerage deducted from his trading account was higher.
Can you think why he needs to pay extra brokerage fees to trade?
Well! That is because of the taxes and other fees associated with a brokerage. Many traders like Raman often forget to consider the additional fees and therefore sometimes fails to earn the calculated profit.
To prevent yourself from such conditions, either you can check the hidden fees, taxes in the contract note or refer to the brokerage calculator, which provides you the exact calculation to trade in different segments and also the profit or loss percentage.
Apart from the brokerage fees, taxes and other charges, there are transaction charges levied on selling. So if you are into long term delivery trade, then every time the shares debited from your Demat account, certain fees are deducted, called DP charges. These charges can only be levied since there is a valid Motilal Oswal DP ID with the broker.
This fee is levied on scrip and not on the number of shares. So whether you debit 100 shares or 1000 shares of a particular scrip the charges remain the same.
Motilal Oswal DP charges are ₹75 or 0.075% whichever is higher.
After considering the charges many among you might be willing to trade with the broker. No doubt the broker offers impeccable services by providing a highly advanced trading platform and research tips that help beginners to trade across segments with the minimum chance of loss.
The best part is the broker offers different trading apps, MO Trader and MO investor that further make it easy to trade and invest in their desired stocks.
So start investment today, by opening a Demat account with the broker. Here is the form for you to get started: