Hi Friends ..............
I had opened an account with VPS for all segments before two weeks.
I traded in Currency segment in USDINR future contract.
Stamp duty in currency segment at VPS is 200/Crore.
Turnover charges in currency segment at VPS is 160/Crore which I think the lowest among all discount brokers.
One broker charging lower turnover charges than this (115/Crore). But they charging 200/Crore as Clearing charges. So totally (115+200=315 total turnover charges) . But in VPS 160/Crore only since there is no clearing charges.
I thought to share the Contract Notes for the currency segment because I felt happy since there is no hidden charges.
In the above Contract Note:
Total number of trades: 2 (buy 1 + sell 1)
Lot size traded: 30 lots(30000 qty)
Brokerage charged: 20 (10 for buy trade and 10 for sell trade)
12.36% Service Tax on Brokerage: 2.47
Other charges(Turnover charges+Stamp duty+other charges): 134.09
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Total charges without (Brokerage 20+ Service Tax on Brokerage 2.47)=134.09 (Breakeven point 0.4469 paise)
Total charges with (Brokerage 20+ Service Tax on Brokerage 2.47)=156.56 (Breakeven point 0.5218 paise it will decrease when traded with huge lots)
From the above calculations I am sure there is no hidden charges in VPS in currency segment.
Monthly fixed brokerage in VPS for currency segment ( Rs: 799+ 12.36% service tax on brokerage Rs: 98.75= Total Rs: 897.75) is also lowest in the industry.
So I recommend VPS for Currency trading for those who are trading in Currency segment...................
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One more Contract Note attached with number of trades: 4 and traded lot size: 30 lots( 30000 qty USDINR) for further verifications.
If I trade in other segments in future I will post the ECN and charges.
Others trading in other segments may post their calculations here. So that it will be useful for fellow members.
Qreous...
Curious to Trade...
