ICICIDirect Increasing Brokerage for NCD/Bonds

#1
Recently got a message from ICICIDirect that they are going to increase brokerage on Bonds/NCDs to 1%?

Why Bond brokerage should be so high compared to equities? Is this the standard brokerage with other online trading portals? Is there any portal with very low brokerage for Bonds/NCDs?
 

Alchemist

Administrator
Staff member
#2
The new rates are as follows:



Most brokers have the same rates for bonds and shares.

Kotak Securities charges the same for bonds and shares - 0.59% on each side.

Zerodha charges only Rs 20 per trade and is a one of the cheapest options except for those who trade in tiny lots.
 
#3
The new rates are as follows:



Most brokers have the same rates for bonds and shares.

Kotak Securities charges the same for bonds and shares - 0.59% on each side.

Zerodha charges only Rs 20 per trade and is a one of the cheapest options except for those who trade in tiny lots.
Is Rs 20 applicable for both intraday and delivery. If so, it is costly for intraday.
 
#4
"Subject to minimum 20 per NCD/ Bond per day " means if one buys 10 bonds (for say Rs. 1050) in one transaction, the brokerage will be 20*10 = 200 Rs

OR 1% of 1050*10 = 105 Rs ? If its 200 Rs, the effective brokerage is 2% !!
 

Alchemist

Administrator
Staff member
#5
"Subject to minimum 20 per NCD/ Bond per day " means if one buys 10 bonds (for say Rs. 1050) in one transaction, the brokerage will be 20*10 = 200 Rs

OR 1% of 1050*10 = 105 Rs ? If its 200 Rs, the effective brokerage is 2% !!
I am not 100% sure, but I think it's Rs 20 per ISIN. The number of NCD's don't matter as long as they are the same ISIN.

I repeat I am not 100% sure.
 
#6
Regarding Zerodha, I checked with them, they said they currently do not support transactions in Bonds/NCDs. They also dont support trades on BSE.

Is there any economical option of online trading in Bonds / NCDs. 1% brokerage by ICICIDirect is just too much.
 
#7
I sold NHAND6 yesterday on ICICIDirect.

Was shocked to see my trade book today, 1% brokerage fee charged. Just googled to understand the high brokerage fee and ended up here. So yes it is 1% and it is too high.

Good to be posting something in here after such a long break.
 
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