Every charge on an equity trade, and why small trades rarely pay

Zero-brokerage delivery is real, and it is not the same as free. Six separate charges apply to an equity trade, and together they set the move a trade needs just to break even.

The six lines

Brokerage — flat ₹20 an order or a small percentage, nothing for delivery at several brokers. Securities Transaction Tax — 0.1% on both sides for delivery, 0.025% on the sell side for intraday. Exchange transaction charges — roughly 0.003% of turnover on NSE equity. SEBI turnover fee — ₹10 per crore. Stamp duty — 0.015% on delivery buys. GST — 18% on brokerage and the transaction and SEBI charges.

And one that surprises people

DP charges: a flat fee of roughly ₹13–₹20 plus GST every time you sell from your demat account, charged per scrip per day regardless of quantity. Sell ₹3,000 of one stock and it is a full percentage point of the trade.

What this means for position sizing

On a delivery trade of ₹5,000, total costs are typically ₹35–₹45, so the stock has to rise about 0.8% before you are level. On a ₹1 lakh trade, the same charges are about 0.25%. Small trades are not cheap; they are just small.

Intraday is where it accumulates

Costs per intraday trade are lower, but frequency multiplies them. Twenty round trips a month at ₹60 each is ₹14,400 a year — a hurdle rate most strategies do not clear.

Check before you trade

Our brokerage calculator itemises every charge for delivery, intraday, futures and options, and prints the percentage move you need to break even. Run it once for your typical trade size; the number tends to change behaviour.