Shoonya no more free

General
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Shoonya from Finvasia has finally decided to end their zero brokerage policy… The recent steps by SEBI has hurt the discount brokers so much that it was Kotak Securities which decided to charge brokerage on intraday trades and now Shoonya has decided to charge 5 rupees per trade for all intraday trades (equity delivery remains free). They will also levy AMC and charge for API too.

New Fee Structure (Effective 2nd December 2024)

To continue offering a high-quality and secure experience, we are introducing a modest fee structure:

  • Annual Maintenance Charge (AMC): ₹499 per year (plus GST) for all active accounts. This fee will help us enhance account security and expand cybersecurity measures, given the rise of digital financial scams.
  • Operational Costs for Intraday, Futures & Options, and Commodity Derivatives Trades: ₹5 per trade (plus GST).
  • API Trading Fee: ₹ 1999 (plus GST) per month for clients using our API for trading.
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Broker is one who should facililate trade only and not dictate what should be the course of Money Market (They may perform their Social Responsibility by Educating like Zerodha Varsity)…
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But, Kotak’s Arrogant Top management, seem to be happy with changes in FnO & are expressing their Joy on changes in their Social Media handles, saying 9/10 lose (May be their Fund Managers were losing badly :joy::joy: and so management must be relieved :joy: :joy: that such thing is of the past) … And Kotak never mentions about efforts they made/are making to educate on Money Markets.
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So,due to Arrogant Attitude, I closed my account with them permanently.

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