The marketing executive at Sharekhan, where I have an account said; we need full span margin for that particular script in order to trade.. There is no exposure as far as commodities are concerned..
if u take my advice, do not look fr brokers who take the lowest margins..it could be counterproductive for ur trading.. instead there are many commodities like gold silver zinc lead which have a mini contract..try n trade in them..
I use Sharekhan and started trading with ZincMini.
Margin for ZincMini: 5000 to 5500 (~5% of the price of 1kg of Zinc)
Leverage: 1:1000 (.05 paise = 50 rupees)
Brokerage: 0.1% as default starting rate. I received the rate of 0.03% after 2 weeks to a month (I asked for a lower brokerage in person without specifying a rate) of trading stocks and then moved into commodities.
Brokerage for trading in ZincMini at 0.03% is only 70 to 80 rupees for starting and closing a trade (35 to 40 rupees each way) which seems ok for someone starting to trade.
Gold Guinea needs less than Rs 1,000 as margin to start but the leverage is almost 0 from what I've noticed. 1 rupee up = 1 rupee in profits.
I'd rather trade where the minimum change in price leads (when I'm trading in the profiting direction) to a profit of at least 50 rupees and not 1 rupee.