Brokerage platform Shoonya has introduced a new fee structure effective December 2.
It will charge an annual maintenance fee of ₹499 per year (plus GST) for all active accounts, ₹5 per trade (plus GST) for intraday, equity and commodity derivatives trades, and an API trading fee of ₹1,999 per month (plus GST).
It will, however, continue with zero brokerage for delivery trades, ETFs, bonds, mutual funds, IPOs, mutual funds, and a few other services.
Shoonya said it was able to provide zero cost services primarily from the revenues it generated from the rebate it got from exchanges on processing fees. These rebates have been done away with due to recent regulatory changes and a flat-fee structure has been implemented for end clients, it said.
Flat fee
The exchanges have shifted from a slab-based transaction charge to flat fees. The changes went live on October 1, 2024.
Recently, Kotak Securities said it would charge intraday orders across segments at ₹10. Delivery Brokerage in TradeFreePlan, however was reduced from 0.25 per cent to 0.20 per cent.
Last month, Angel One introduced a new fee structure for brokerage charges on cash and equity delivery from November 1, charging ₹20 or 0.1 per cent per executed order, whichever is lower, for cash delivery transactions, plus GST.