ICICIDirect Increasing Brokerage for NCD/Bonds

V

viral72

Member
#1
#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?
 
A

Alchemist

Administrator
Staff member
#2
#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.
 
R

rajivka

Member
#3
#3
Alchemist said:
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.
Click to expand...
Is Rs 20 applicable for both intraday and delivery. If so, it is costly for intraday.
 
V

viral72

Member
#4
#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% !!
 
A

Alchemist

Administrator
Staff member
#5
#5
viral72 said:
"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% !!
Click to expand...
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.
 
V

viral72

Member
#6
#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.
 
P

panks_07

Member
#7
#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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