Sharekhan Currency Brokerage
Currency trading gives you the opportunity to trade across borders. Top stockbrokers like Sharekhan offers access to trade in currency pairs through its trading platform. Let’s know the Sharekhan currency brokerage associated with this trade.
To trade in currency pairs firstly you need to open a trading account, however, the broker offers a 2-in-1 account facility thus you can access both Demat and trading account with the Sharekhan Demat account.
Sharekhan currency charges involve several costs but considering the Sharekhan brokerage charges, it is calculated as per the trading cost in the Futures and Options segment.
- Currency Futures Brokerage
- Currency Options Brokerage
Let’s discuss these charges in detail in the section below.
With Futures trading in Currency, you get to exchange one currency for the other at a predetermined date in the future. You fix both the date and the rate in advance for this type of trading.
The brokerage that you have to pay for the currency futures trading is 0.03% of the total trade turnover value. It means if you trade in currency futures generating a total trade turnover of ₹ 60,000, you will be paying a brokerage of ₹ 18 to Sharekhan.
Your brokerage will increase/decrease as per the trade turnover you generate.
And of course other than this brokerage you will be required to pay SEBI charges, GST, Transaction charges and other charges which we will look at later in this article.
Sharekhan currency options brokerage charge is fixed at ₹40 per lot which means you have to pay a flat ₹40 brokerage for either buying or selling a lot in currency options.
As you must already know, in option trading, you do everything the same as you do in the currency futures but you are not obliged to buy or sell the currency at a fixed date in the future in case you think the deal is unfavorable.
Other than this brokerage, you will be required to pay some hidden charges, and now is a good time to take a look at those additional hidden charges with Sharekhan.
Hidden charges in options trading basically include Securities Transaction Tax (STT), Transaction charges, and some other taxes such as GST, Stamp duty, and SEBI charges. In this table, we have given you the data on how many hidden charges you’d be paying to Sharekhan in order to trade in currencies.
Now with the brokerage and these many other charges, it might get difficult for a trader like you to keep track of the charges you’d be paying to Sharekhan every time you trade in currencies. Therefore, we have this Sharekhan Brokerage Calculator that calculates all the Sharekhan Charges for you.
All you need to do is to fill in the required details and a list of the charges will appear on your screen. These will be the Sharekhan currency charges while doing currency trading with Sharekhan.
In a nutshell, you could argue whether the charges you pay, particularly for currency options trading is justified or not but with the research and advisory as well as the other trading facilities that you get on Sharekhan, the charges look quite reasonable.
Apart from that, currency futures brokerage, which is 0.03% of the total trade turnover, already looks on the lower side.
With a renowned and quality stockbroker like Sharekhan, trading is rather safe and convenient and therefore, the charges across segments but particularly in currency tradings seem to be justified.
Want to begin your trading and investment journey, get started now with the renowned stockbroker. Get in touch with us and we will assist you in opening a demat account online for FREE!