I was thinking about trading for NSE through interactive brokers but when I miscalculated the trading costs so I remained in shock.
1 lot nifty futures index value 5400 contract value 270000 INR
/IB) commission =< 50 crore 0,012% 32,40INR only by 1 leg they dont charge by closing if you close it same day
Exchange, Transaction Charges- 0.0019% 10,26INR for both legs
SEBI Turnover Charges 0,0001% 0,54INR for both legs
Stamp Duty (Maharashtra) 0,002% 10,80INR for both legs
Securities
Transaction Tax 0,017% 45,90INR only when you sell
Service tax 12,36% its commisions+ exchange charge 32,40+10,26/100x12,36 its 5,27 INR total costs for 1 trade 105,17INR. I am a day trader if I would risk about 5,50 poit per 1 trade ist 275INR for profit of 550 INR this mean for each profit trade I would pay 19,12%. Iam from europe by trading on eurex or on cme my costs for 1 trade total are between 1,5%-4% and by Nifty 19,12% for me its untradable this market.CME also offer this product but there is no liquidity E-Mini S&P CNX Nifty 50 (Futures) 1 full point has value 10usd risk per trade would be 55usd for profit of 110 usd and commisions by my broker would be 3,32usd for RT cost for 1 trade 3,01% but no liquidity. Guys WHY ITS SO EXPENSIVE IN INDIA TO TRADE NIFTY? The market has good liquidity I was planning to trade your market but now I am disappointed.
1 lot nifty futures index value 5400 contract value 270000 INR
/IB) commission =< 50 crore 0,012% 32,40INR only by 1 leg they dont charge by closing if you close it same day
Exchange, Transaction Charges- 0.0019% 10,26INR for both legs
SEBI Turnover Charges 0,0001% 0,54INR for both legs
Stamp Duty (Maharashtra) 0,002% 10,80INR for both legs
Securities
Transaction Tax 0,017% 45,90INR only when you sell
Service tax 12,36% its commisions+ exchange charge 32,40+10,26/100x12,36 its 5,27 INR total costs for 1 trade 105,17INR. I am a day trader if I would risk about 5,50 poit per 1 trade ist 275INR for profit of 550 INR this mean for each profit trade I would pay 19,12%. Iam from europe by trading on eurex or on cme my costs for 1 trade total are between 1,5%-4% and by Nifty 19,12% for me its untradable this market.CME also offer this product but there is no liquidity E-Mini S&P CNX Nifty 50 (Futures) 1 full point has value 10usd risk per trade would be 55usd for profit of 110 usd and commisions by my broker would be 3,32usd for RT cost for 1 trade 3,01% but no liquidity. Guys WHY ITS SO EXPENSIVE IN INDIA TO TRADE NIFTY? The market has good liquidity I was planning to trade your market but now I am disappointed.
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