With the start of 2022, we thought of making you learn about some new markets. Many of us have heard it already but never thought of exploring this segment due to less knowledge. To trade with foreign currencies open the door to making a profit if you’re able to spot the right opportunity. Therefore, in this article, we will cover in brief the understanding of Currency Trading and Zerodha Currency Brokerage charges in 2022.
As the name suggests currency trading, means you always need to deal in pair of currencies while trading in this market. This market involves participants from around the world. Under the Indian scenario to trade in the currency market, is to take a position on a currency pair. For instance, the INR/USD rate represents the number of Indian rupees required to buy one US Dollars. If you think the US Dollar price will increase in value against INR, you buy US Dollars with Indian Rupee.
Factors Determining Exchange Rate
A country’s exchange rate is determined based on demand and supply for the country’s currency in the international forex market. Above all, this demand & supply is influenced by several factors directly or indirectly by interest rate, inflation, trade balance, and economic & socio conditions of the country. Sometimes, the level of confidence traders have in a currency also plays a crucial role in a price increase.
Zerodha Currency Brokerage in 2022
Here is the charge list for Currency Segment for the Zerodha account:
|Zerodha charges||Currency futures||Currency options|
|Brokerage||0.03% or Rs. 20/executed order whichever is lower||0.03% or Rs. 20/executed order whichever is lower|
|STT/CTT||No STT||No STT|
|Transaction Charges on NSE||Exchange txn charge: 0.0009%||Exchange txn charge: 0.035%|
|Transaction Charges on BSE||Exchange txn charge: 0.00022%||Exchange txn charge: 0.001%|
|GST||18% on (Brokerage + transaction charges)||18% on (Brokerage + transaction charges)|
|SEBI charges||₹10 / crore||₹10 / crore|
|Stamp charges||0.0001% or ₹10 / crore on buy-side||0.0001% or ₹10 / crore on buy-side|
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Usually, Currency Trading happens between 9 am and 5 pm on NSE, BSE, and MCX-SX.