Nirmal Bang: Commodity Trading: Brokerage, Charges, Reviews: 2024

Nirmal Bang also offers commodity trading to all its retail customers, in the sense that they have the provision to trade in commodities through futures and options in the market. Commodities like agriculture grains, oil, gas, precious and base metals are the few commodities available for trading.

Being a registered member of the Multi-Commodity Exchange of India Ltd. (MCX), National Commodity & Derivatives Exchange Ltd. (NCDEX), Spot Exchange and Indian Commodity Exchange Ltd (ICEX), Nirmal Bang can provide access to trade in various commodities on all these trading platforms.

About:

Nirmal Bang is one of India’s top Full-service Brokers, incorporated in 1986. It offers many investment opportunities to investors like Equities, Commodities, Currencies, IPO’s, and much more.

Charges:

Let’s look at some of the charges involved while opening a Demat Account with Nirmal Bang.

Despite being a discount broker, the account opening charges are “0”. You can open an account for Free. Apart from the Demat and Trading account, you also get some additional benefits while opening an account with Nirmal Bang.

• You get a Free accidental Insurance of Rs 5 Lakh.
• Free Mediclaim Insurance for Rs 50,000.

These two benefits are free for every individual who opens an account with Nirmal Bang.

The AMC charges are Rs 200 per month. You can also pay Rs 1000 to get a lifetime free AMC.

Brokerage:

When it comes to trading, Brokerage is an essential part of trades. Being a Full-Service broker, the brokerage charges in Nirmal bang is slightly on the higher side. It charges 0.2% for Equity Delivery and 0.02% for intraday trading. For Equity Futures the brokerage is 0.02% and Rs 30 per lot in Equity Options. In currency Futures, the brokerage rate is 0.1% and for Currency Futures, the brokerage is Rs 10 Per Lot.

For commodities, the brokerage on Commodity Futures is 0.1%. In the case of Options, For Gold and Silver Options, The brokerage is Rs 70 Per Lot and for the remaining Rs 30 Per Lot.

Nirmal Bang Account

To conclude it can be said that Nirmal Bang is a good Full-Service Broker. The account opening is free and the AMC is also very less at Rs 200 annually. The brokerage rate is slightly higher than some of the discount brokers.

On the contrary, you get a lot of extra features like Research reports, trading tips, advisory, etc. For Commodities trading the brokerage is very high at Rs 70 Per lot for Bullion and Rs 30 for remaining commodities. So one might have to pay a lot of brokerages when trading in commodities with Nirmal Bang.