Finvasia does offer commodity trading through the MCX. Moreover, the brokerage fee that the stockbroker charges is zero. Finvasia is a technology-centric stockbroker that offers a wide range of trading tools to trade in segments of the BSE, NSE, and MCX. Since 2016, the stockbroker has offered zero brokerage plans and zero commissions whatsoever. Trading in the segments of equity, commodity, currency is made simpler by Finvasia.
Finvasia is quite popular amongst the country's top stockbrokers, all thanks to its zero brokerage and zero commission plans it has to offer. Demat opening charges, trading account opening charges, AMC for both demat and trading account are all zero rupees. Moreover, trading in commodity futures and options is all capped are zero rupees. However, the GST, tax, and other charges that come with every transaction are still there with every transaction made.
Speaking about being technology-focused, Finvasia has multiple trading platforms for an easy and seamless trading experience provided to the users. These include ScalperT (a web and mobile trading application), NSE Now, NEST, Blitz trading (algorithmic focused trading platform), and Symphony presto. Furthermore, a few advantages and disadvantages of using the platform to trade in the commodity segment are illustrated below.
The stockbroker is quite technology-centric and offers a broad range of tools with zero brokerage charged. While it might be appealing, not all the trading tools are free, and the margins are relatively low, which might be a letdown for many.
|Charge||Commodity Futures||Commodity Options|
|Securities Transaction Tax (STT)||0.01% (on Sell side)||0.01% (on Sell side)|
|Transaction / Turnover Charges||₹260/ crore||₹260/ crore|
|Goods and Services Tax (GST)||18% on (Brokerage + Transaction Charge)||18% on (Brokerage + Transaction Charge)|