Best Commodity Broker In India

Which is the Best Commodity Broker In India? Which stockbroker provides value for money investments? Who shall I open Commodity trading account with for best trading platforms and margin?

Are these questions circling your head?

Well, let’s find out the answers to these queries one by one and see which stockbroker works the best for your investment requirements.

7 Best Commodity Broker in India

Before we talk about the best Commodity broker for you, let’s try to understand what is commodity trading.

Commodity Trading is very different from trading in Equity or trading in currencies. At the same time commodities, with relatively lower volatility in its pricing compared to equity and bonds, provides an equally effective option in portfolio diversification.

Commodity trading can be around products such as:

• Metals
• Agricultural
• Energy
• Meat and Livestock

To start Commodity trading segment, all you need is:

• Choose a broker
• Open an account
• Put in a minimum investment (depending on the commodity you are looking to trade-in).

Once you have your trading account running, then it is pretty straightforward. However, the biggest concern of them all is – Choosing the best commodity broker! Although it might not look like a difficult task if you choose a broker that does not go with your preferences, you will end up looking for another.

That creates unnecessary wastage of time and some money (and then there is a definite loss of opportunity cost too!).

Here we are listing some of the top brokers in India that are decently placed in Commodities segment and might fit in with your requirements:

Sharekhan is one of the oldies in stockbroking space in India. Within the Commodity segment, Sharekhan provides regular insights and recommendations to its clients depending on your portfolio.

For beginner traders, it is one of the Best Commodity Broker since Sharekhan provides all kind of hand-holding to its clients in the form of calls, emails, SMS alerts etc.

The only concern with Sharekhan is that it charges pretty high broking charges in Commodity segment. Thus, be sure and you may even check this Sharekhan Brokerage Calculator before going ahead with your account opening.

Here are the account opening charges for Sharekhan Commodity:

 

Sharekhan Commodity brokerage is as follows:

 

Sharekhan also provides leverage of up to 2 times for Intraday in Commodities segment (which is not that high).

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Zerodha is a pioneer in discount broking eco-system in India. Zerodha does not provide any recommendations or tips but allows trading at a much reasonable brokerage. So be wary of that aspect.

Zerodha suits those traders who can perform technical analysis of stocks by themselves and understand how commodities segment works at the micro and macroeconomic level.

The account opening charges at Zerodha are as follows:

 

Specifically for Commodity or any other segment, Zerodha brokerage charges are minimal as the broker charges ₹20 to trade in intraday while ₹0 in equity delivery.  You can check this Zerodha Brokerage Calculator for reference:

 

Zerodha provides leverage of up to 3 times for Intraday in Commodities segment. Check out the Zerodha Margin calculator and Zerodha Commodity margin for more information.

All these aspects put this discount broker into the list of best commodity brokers in India.

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Angel Broking is another stockbroker that easily makes to this list of best commodity broker in India. One of the recent reasons for it making it to this list is the introduction of Angel iTrade plan.

That is, even though it is a full-service stockbroker, it will charge you a flat brokerage rate of ₹15 per executed trade. Isn’t that amazing?

Feel free to check this Angel Broking Brokerage calculator for your reference.

Well, apart from that, you get to open a free demat account and there are no annual maintenance charges either.

Furthermore, the Angel Broking margin is 6-10 times which is one of the highest margin values you can avail in this trading segment. For more information, you can check this Angel Broking Margin Calculator as well.

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Trade Smart Online is known for its decent customer service and is one of the leading discount brokers in the country. Like other discount brokers, Trade Smart Online also does not provide any recommendations or market tips to its clients. It is one of the most flexible stockbrokers in terms of its brokerage plans thereby putting itself into the list of the best commodity broker in India.

Here are the details:

Account Opening Charges

 

As far as the brokerage is concerned, here are the different plans:

 

Depending on the kind of plan a client opts for, required brokerage charges are levied. Here is the Trade Smart Online Brokerage calculator for your information.

Trade Smart Online provides leverage of up to 5 times for Intraday in Commodities segment.

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Upstox (previously known as RKSV) is also a discount broker known extensively for its trading platforms and corresponding innovative features added every now and then. This shows the kind of technical transformation the stockbroking space is witnessing now.

Again, you will be responsible for the research and there will be no assistance provided by this discount broker in that aspect.

Research and advisory services is one area where discount brokers generally lag behind full-service brokers. That’s why if seasoned traders get a chance to make a choice, Angel One vs Upstox, on this basis, they mostly go with the former.

The reason is extensive research facilities available with it. However, Upstox is still a favorite of many who prefer discount brokers in India.

Here are the different Upstox brokerage charges for commodity trading.

 

Brokerage charges for Upstox are (you can check this Upstox Brokerage calculator here):

 

Upstox allows leverage of up to 3 times for Commodities Intraday. For more information, check this Upstox Margin Calculator.

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Aditya Birla Money is an oldie in stockbroking space in India and is one of the leading full-service brokers in Commodities segment. With its presence in more than 800 branches and franchises across the country, Aditya Birla provides huge offline connect with its clients and thus, is one of the best commodity brokers in India.

It also provides the latest research reports and market trends around commodities segment specifically on a regular basis to its clients.

Here are the details on charges:

 

Brokerage is relatively less as compared to the brokerage of a lot of other full-service brokers as well (here is the Aditya Birla Money Brokerage calculator for more information):

 

Aditya Birla Money allows leverage of up to 2 times for Commodities Intraday. Ch.eck this Aditya Birla Money Margin calculator for your reference.

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Finally, the last stockbroker making to this list of the best commodity broker in India is Mastertrust.

Commodity trading is one of the many trading segments this stockbroker has to offer to its clients to go along with regular research and quick customer support.

The brokerage charged is pretty minimalistic at 0.07% of your trading turnover while the margin offered is 2 times the value of your trading account value.

For more information, you can check this detailed Mastertrust brokerage calculator for all sorts of taxes, charges and your profit or loss value depending on the buy and sell prices.

The broker also offers flat brokerage charges through its discount broking arm – My Value Trade.

You can check this review in Hindi as well.

Read more about MasterTrust App

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We suggest you have a detailed discussion with the customer support team with all the brokers that suit your preferences. Once you are sure that a specific commodity broker is as per your expectations and is the best commodity broker for you, you may go ahead with the account opening process and thence, trading.

P.S. Also try to negotiate on the brokerage as much as you can. It is always negotiable but they won’t admit it.

However, in case you want our help in the Best Commodity Broker selection or you still have more questions to get clarified?

Why don’t you send your details and we will arrange a Free call back for you!

 

If you wish to learn more about Commodity trading, here are a few reference links for you: