Master Trust: Currency Trading: Brokerage, Charges, Reviews: 2024

Towards the currency trades, there is a fixed brokerage cost that is imposed on the traders. Its 5 rupees for every currency transaction. It's tentative to change based on the transaction, size and amount. But it's mostly at 0.005% of the total turnover.

About MasterTrust:

MasterTrust is a full-service providing broker based in Ludhiana. This is one of India’s oldest and trusted stockbrokers incorporated in 1985 under the name “Arora Financial Consultants Limited”. it has more than 35 years of experience in this industry. Mastertrust is a listed company that got listed on the BSE in 1995. it has more than 2. Lakh clients and it lets its users invest and trade in Equities, Derivatives, and many other investment vehicles.

Currency Trading:

MasterTrust provides trading in currencies derivatives but for that, you have to fill a basic form. This is required for the activation of the derivatives segment. You have to provide some basic Income proof documents like Bank statement, Salary Slip, etc, post which you can start trading in currencies.

Brokerage Charges:

MasterTrust offers 2 brokerage plans:-

 20:20 Plan  Standard Plan

1. 20:20 Plan This is a discount broking plan provided by Master Trust. The account opening charges in this plan is Rs 100 and the Demat AMC (Annual Maintenance Charge) is Rs 300 annually. The brokerage charged in this plan is at a flat rate of Rs 20 per order. The 5th order will be Free under this plan. Currency options are charged at Rs 20 per order.

2. Standard Plan

The “Standard Plan” comes with many added benefits such as Free research reports, Branch access, Financial Planning Services, etc. The account opening charges are Rs 100 but there are no AMC charges if the brokerage generated is more than Rs 1000 in one year. The brokerage charged for Currency options is Rs 25 per lot. Apart from currencies the brokerage on Equity option is Rs 75 per Lot and Rs 130-195 per lot for Commodity options.

Conclusion:

Looking at the experience, MasterTrust can be a good broker if the 20:20 plan has been opted. The standard plan is too expensive for currency traders. There are other Full-service proving brokers who charge much less than Rs 195 per lot in commodities. Therefore you should either consider the 20:20 plan or look for other Full-service brokers if you want to trade in commodities.