Zerodha CEO Nithin Kamath confirmed that equity delivery will remain free, with no changes to brokerage.
Zerodha CEO Nithin Kamath said that equity delivery will continue to be free at Zerodha. He said, “As of now, we are not making any changes to our brokerage.” Talking about the changes in the stock market which have become effective from today (October 1), he said, “For options: STT increases to 0.1% from 0.0625%, and transaction charge decreases to 0.035% from 0.0495%.”
Nithin Kamath, CEO of Zerodha, announced that equity delivery will remain free. Recent changes to stock market fees include higher STT rates and lower transaction charges, leading to increased costs for traders, especially those dealing in futures, due to different STT applications on contracts.(X/Nithin Kamath)
He explained, “This results in the cost of trades seeing a net increase of 0.02303% or ₹2303 per crore of premium on the selling side on NSE and of 0.0205% or ₹2050 per crore on BSE.”
He added, “For futures: STT increases to 0.02% from 0.0125%, and transaction charge decreases to 0.00173% from 0.00183%. This results in a net increase of 0.00735% or ₹735 per crore of futures turnover on the selling side.”
On how it will impact stock market traders, Nithin Kamath said, “Since STT is charged on the entire contract value for futures, whereas in options, it is charged only on the premium, the impact will be much larger for futures traders.”
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News/Business/ Zerodha not increasing brokerage charges, Nithin Kamath says: ‘Will be free’
