I have used 5 brokers so far and hence my knowledge on this topic is limited –
1) Axis Direct
Pro – Stable always
Cons – High Brokerage
My Option Selling perspective – Havent tried
Pro – Amazing UI, really good apps (coin, sensibull, streak, sentinel, many many!), community is good, receptive to new ideas, earliest in discount broking industry
Cons – The site crashes when it matters the most
My Option Selling perspective – Great portal. But there are limitations in terms of buying far OTM contracts (hedge) in BN. This is a killer, as any event will wipe away entire capital.
Pro – Amazing UI, really good tools, community is growing (they have almost all the features of zerodha), company is funded by Ratan Tata
Cons – The site is stable
My Option Selling perspective – I am using this for buying far OTM contracts (hedge)
4) Astha trade
Pro – Low margin (2500 per day for intra day option selling).
Cons – Bad customer support, tools are not that great. Mobile app is really bad.
My Option Selling perspective – High leverage is risky. You can try with a limited capital. Smaller brokers are not reliable at all
5) ICICI direct
Pro – Lowest margin (1000 per day for intra day option selling) but it should be done with a SL, Stable portal and it has good support
Cons – Brokerage is high. For BN, first 10 lots it is 95 per lot and further lots it is 15 rs per lot. Let us say u write 25 lots – brokerage is 10 x 95 for first 10 lots and 15 for next 15 lots. So 950 + 225 = 1125
My Option Selling perspective – High leverage is risky. You can try with a limited capital
I am currenlty using both Zerodha and Upstox for trading. Also, I use Zerodha for investments (MF – Coin, buying shares etc).
What is the margin for zerodha ? And How much leverage It will give for option selling ??
Approx. 57k to 65k for positional. Intraday it is half the amount. ie. approx 28k to 30k
Sir I’m currently using astha trade and its working fine with me. They have launched new mobile app Bazar and its really quick.
Sure, thanks for this info. I will check.
Mr Raghu , what about Leverage ?? How much they will give ??
Yes, 57k for positional and 28k odd for intraday. That will be close to 5x
Can anyone post Brokerage charges and Leverage provided by Upstox and Astha trade???