Forex Trading Brokerage

Along with many different trading segments, forex trading also called currency trading comes with multiple benefits to traders. So, if you have an interest in trading currencies, then get started by grabbing complete information on Forex trading brokerage. 

Forex Trading Brokerage in India

To get started with currency trading in India, you need to pick the right stockbrokers. Now there are many brokers offering full-service and discount brokerage services.

No doubt, many traders consider the trading services, apps, research, and advisory services to avail the best services, but along with this, it is good to look for the currency brokerage charges. 

To make the choice easy for you, here we are with the list of forex trading brokerage charges of the best stockbrokers in India. 

So, let’s discuss the complete details of the brokerage fees imposed by different currency trading platforms in India to trade.

Best Brokerage for Forex Trading 

In general, brokerage on currency trading depends upon the derivatives segment (Futures or Options) you choose. 

The full-service stockbrokers charge fees on the basis of trade volume to trade in currency futures and options while there are discount brokers that are known for offering the best brokerage services at a flat price. 

However, with the growing demand for discount brokers, many full-service brokers like Angel Broking now offer the discounted brokerage plan to their customers. 

Along with the brokerage charges, you need to pay certain taxes that include STT charges, stamp duty, GST etc. 

So, without any further delay let’s find the forex trading brokerage of the top 5 brokers in India. 

1. Zerodha Currency Brokerage

Zerodha is the first stockbroker that introduces the discount brokerage plan and thus you can trade at the minimum price in the currency trading with Zerodha demat account. 

To trade in Currency futures, the broker charges the fees of ₹20 or 0.03% per trade while for the Currency option it is ₹20 per lot. 

Here is the detailed information of the forex trading brokerage while you perform Zerodha Currency Trading. 

 

Zerodha Currency Calculator

With Zerodha brokerage there are some other additional fees like SEBI charges, STT, Stamp duty. This list confuses many traders and thus they are unable to find the exact brokerage for a particular trade. To make it simple, you can rely on the brokerage calculator.

It helps you in calculating the exact brokerage including all kinds of taxes and fees thus making it easy for you to trade by evaluating your profit or loss percentage. 

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2. Angel Broking Currency Brokerage

Angel Broking is the full-service stockbroker that offered multiple brokerage plans to its customers earlier. But now introduces the latest discount brokerage plan, Angel Broking iTrade plan. 

According to this plan, the trader has to pay ₹20 or 0.25% (whichever is lower) to trade in currency futures and options. 

Apart from this, the broker waives off the STT charges but you need to pay GST and other hidden costs to execute the trade. 

Here is the detail of the currency brokerage fees in Angel Broking. 

Angel Broking Currency Brokerage Calculator

Similar to the Zerodha brokerage calculator, you can make use of the Angel Broking brokerage calculator to evaluate the total brokerage fees.

To calculate the brokerage, you just need to enter the buy/sell price and share price. This will give you the exact fees to trade in a particular currency. 

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3. ICICI Direct Currency Trading Brokerage

ICICI Direct is a bank-based stockbroker, that offers full-service brokerage services. Being one of the renowned stockbrokers, it offers multiple brokerage plans to its customers. 

With multiple facilities and services, it offers flat brokerage fees of ₹20 per trade or lot to trade in futures and options respectively. 

 

ICICI Direct Brokerage Calculator

Whatever plan you choose, you still need to pay certain charges like SEBI fees, STT and GST. This makes it essential to grab the right information about brokerage. 

To help you with this, we provide you a digital calculator that helps you in calculating the brokerage fees including the taxes. 

So, get into a trade and end up earning profit by evaluating the exact brokerage charged for a currency trade

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4. Motilal Oswal Currency Brokerage

Motilal Oswal is another full-service stockbroker that offers multiple brokerage plans. Here the exact brokerage depends upon the margin you deposit in the trading account. 

As you open the Motilal Oswal demat account, the standard brokerage plan is activated and the brokerage depends upon the margin money that ranges from less than ₹25,000 to more than ₹6,00,000. 

Depending upon the trading activity you can initiate the trade and reap the leverage of minimum currency brokerage. 

Apart from this, it also offers a Value Pack that further reduces the brokerage fees. You can activate the plan by depositing the upfront fees (₹2000-₹3,00.000). 

Here is the detail of the forex trading brokerage charged by Motilal Oswal. 

Motilal Oswal Brokerage Calculator

Whether you choose the standard brokerage plan or Value Pack you need to pay additional charges and taxes to execute the trade.

To make the calculation easy, refer to the Motilal Oswal brokerage calculator. This digital calculation not only helps you in calculating the brokerage but the exact amount including taxes and other charges to trade in currency futures or options. 

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5. Sharekhan Currency Brokerage

Sharekhan currency trading brokerage again depends upon the plan you choose. The broker offers two different plans, Prepaid and Postpaid. 

Further, the brokerage depends upon the amount you deposit in your currency trading account. 

Grab complete detail of brokerage charges in Sharekhan for Currency trading:

Sharekhan Currency Brokerage Calculator

Still, confused about how much the broker charges to trade in the currency segment? Do not fret! Use the Sharekhan brokerage calculator and get a fair idea of the brokerage fees and other charges imposed on a particular trade.

Conclusion 

All the above brokers are registered with SEBI and are known for offering the best brokerage services in every segment. 

You can choose the one depending upon the need and requirement and trade smartly by paying the least brokerage fees. 

Also, you can make efficient use of the brokerage calculator @A Digital Blogger to gain a better idea of fees imposed on the currency trade.

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