Brokerage isn’t really that complicated, but if you trade regularly in options and futures, you’ll notice the numbers give a clearer picture. We’ll break down how much you’d pay when trading at 100, 300 and 600 orders for the month.
What Does Each Broker Charge?
Kotak Neo charges a flat ₹10 brokerage for each executed order. Angel One and HDFC Sky charge ₹20 per executed order. With HDFC Sky, options are charged ₹20 and Futures are charged at the lower of ₹20 or a low percentage.
What Is the Monthly Cost at Each Volume?
Here is a comparison of base brokerage.
| Orders | Angel One | Kotak Neo | HDFC SKY |
|---|---|---|---|
| 100 orders | ₹2,000 | ₹1,000 | ₹2,000 |
| 300 orders | ₹6,000 | ₹3,000 | ₹6,000 |
| 600 orders | ₹12,000 | ₹6,000 | ₹12,000 |
These are base fees only. Taxes, exchange charges, stamp duty and GST come extra.
Who Wins at Each Volume?
Overall, Kotak Neo has the cheapest brokerage. Whatever app you choose to trade f&o on, you’ll be paying double for ₹20. At 100 orders, you’re paying ₹1,000 extra. At 600 orders, you’re paying ₹6,000 extra. Both Angel One and HDFC Sky will charge the same amount of flat brokerage. So the real question is: what do you get for ₹20?
What Does HDFC Sky Give You for ₹20?
HDFC Sky offers a range of features. These include one-click options/futures trading, advanced charts, options chain data, and expert recommendations for F&O stocks to trade. On their F&O page, they also have a Strategy Builder, Payoff Analyzer, Margin Calculator and Auto Order Slicer, Trade from charts, GTDT orders. They also offer research provided by a SEBI-registered analyst. Opening an account is free, and there is no demat AMC for the first year.
Does Volume Change the Answer?
It’s also important to consider how aesthetically pleasing the app is. If you’re a swing trader and only doing 100 orders, you’ll need a reason to trade each time. Option and futures trading rewards those who plan. If you’re trading in bulk, ask your broker if they offer volume slabs. Some offer rewards for high order amounts. HDFC Sky offers a flat rate so you know exactly how much you’re paying.
What Else Adds to the Bill?
This is just the base cost. You’ll also be paying tax, exchange fees, SEBI fees, stamp duty and 18% GST. Leverage can work against you, so make sure you size your positions to something you’re comfortable losing. Use a stop loss and keep track of all your fees for a month.
Which One Should You Pick?
If you’re looking for the cheapest base fee and are trading in bulk, then Kotak Neo would be best for you. If research and a great flow of ideas are important to you, then Angel One would be best. If you want research, planning tools and a flat rate, then HDFC Sky would be best. Have a look at the table below using your order amount.
Overall, HDFC Sky would be best for most F&O traders. They match Angel One on price, but offer research recommendations from registered analysts and F&O trading app. Make sure to check the live rates. This is general information and shouldn’t be taken as investment advice.
