Sykes & Ray Charges – Find Brokerage Charges, Account Opening Charges and more

This article informs you how Sykes & Ray charges are applied over the customers. We’ll initiate the entire article with a description of Sykes & Ray Brokerage Charges and, then we’ll move on to explain the ways in which all other brokerage charges are imposed. We’ll even explain how you must pay them certain taxes on behalf of the government.

Sykes & Ray is better known by the name of Sykes & Ray Equities. The company represents a full service broker from the city of Mumbai, Maharashtra. This means that the company grants several services pertaining to financial stock investment and brokerage. However, these services are not what it is most famous for.

In fact, it is rather known for the generous discounts it grants to its clients. It’s managed to survive for over three decades with over 380 branches and three customer centric trading platforms.

Sykes & Ray offers


Sykes & Ray Brokerage Charges

The table below is an apt representation of Sykes & Ray brokerage as levied by the company from their clients.

Equity Delivery0.10%
Equity Intraday0.01%
Equity Futures0.01%
Equity OptionsRs.10 per Lot
Currency Futures0.01%
Currency OptionsRs.10 per Lot
CommodityNA
Flat Monthly Fees, if anyNA

Sykes & Ray Charges

Sykes & Ray charges include the incursion of brokerage for six different sets of services.

These services are provided on the basis of gaining certain commission and, that is exactly what the brokerage compensates.

The table above begins with a brokerage of Equity Delivery Trading. This is levied at a rate of 0.10% per transaction.

The second column of the table is held by the brokerage value for Equity Intraday Trading. The charges for this service are incurred in the exact same manner as that of Equity Futures and Currency Futures Trading. The rate of brokerage for all of these services is limited to 0.01% per transaction.

We then come across the services pertaining to Equity Option and Currency Options Trading. The brokerage value relevant for both these services is limited to Rs.10 per lot. The company provides Trading AMC without any charges and, they have no limit in terms of Minimum Required Brokerage per transaction (trade).

However, they do happen to charge Rs.300 for the sake of Demat AMC in an annual basis. Moreover, the company even has a requirement of maintaining the minimum balance in terms of Margin Money.

The required balance is Rs.5,000 and, this is important for the clients to maintain in order to avail the services pertaining to trade exposure.


Compare Stock Brokers


Get a Call back from Sykes & Ray – Fill up the form Now!

Fill Your Details Here
  1. Open Demat Account

Sykes & Ray Account Opening Charges

All of Sykes & Ray Account Opening charges are described within the table below.

Trading Account Opening Charges [One Time]Rs.330
Trading AMC  [Yearly]Free
Demat Account Opening Charges [One Time]Zero
Demat AMC [Yearly]Rs.300 per Annum
Margin MoneyMinimum Rs.5,000
Brokerage CalculatorSykes Ray Brokerage Calculator
Margin CalculatorSykes & Ray Margin Calculator

Sykes & Ray is known to provide a lot of services for free to their clients and, these include Account Opening services as well. We acknowledge the fact that Sykes & Ray does provide some services for free. This includes Sykes & Ray Trading charges, Demat charges and Sykes & Ray AMC charges for trading.

However, the company has a very strict policy about Demat AMC. They typically retrieve an amount of Rs.300 per year for this purpose. They provide their clients with trade exposure services as well.

However, these services are not extended to everyone. On the contrary, it is allowed to be used by some selective traders. We’re talking about the traders with a minimum Margin Money worth Rs.5,000.


Find Account Opening Charges of other Stock Brokers

Nirmal Bang ChargesReligare Securities ChargesReliance Securities ChargesTradebulls Securities Charges
Aditya Birla Money ChargesSmc Global ChargesVentura Securities ChargesSamco Securities Charges

Sykes & Ray Transaction Charges

The table below grants enough details about Sykes & Ray Transaction Charges. However, we’ve tried to explain the entire situation in case you require further understanding.

Transaction Charges 20190.00285%
Equity Delivery0.00285%
Equity Intraday0.00285%
Equity Futures0.00285%
Equity Options0.00275%
Currency Futures0.00275%
Currency Options0.00275%
Commodity0.00285%

We’ve presented the above table in respect to Sykes & Ray charges in terms of transaction and, we’re sure that it does not takes much to decipher it. You can definitely tell that the company follows in the foot steps of all its competitors.

Having that said, we would even like to bring up another interesting fact about them. Sykes & Ray asks for one of the least Transaction charges from their clients. The company extracts a transaction charge for all of these services apart from brokerage and, the amount that is levied is worth 0.00285%.

As you can see, they levy a uniform charge for providing their services. And, let us remind you that we’re talking about Equity Intraday, Commodity, Currency Futures, Currency Options, Equity Options and Equity Delivery trading.


Find Transaction Charges of other Brokers

Lkp Securities ChargesShri Parasram Holdings ChargesAlankit Assignments ChargesBma Wealth Creators Charges
Shah Investor ChargesShriram Insight ChargesEureka Securities ChargesAse Capital Markets Charges

Sykes & Ray Other Charges

Sykes & Ray charges do not merely conclude within the brokerage charges. In fact, there are a few other charges that the company needs to levy.

SEBI Turnover Charges0.0002% of Total Turnover
STT0.0126% of Total Turnover
Stamp Duty0.002% – 0.004% – Depends on State
GST18% of (Brokerage + Transaction Charges)
Margin Funding Charges18% + GST
Reactivation ChargesRs.50 per Segment
Account Closure ChargesRs.50 per Segment
Dematerialisation ChargesRs.44

Sykes & Ray other charges include a total of 8 categories. However, not all of these charges are imposed as taxes. Anyway, the list above begins with SEBI Turnover Charges. A rate of 0.0002% is applicable for this tax. The tax is charged on total turnover generated by the clients.

Next on the list is STT. This requires a payment of 0.0126% tax over the total generated turnover. This tax is followed by Stamp Duty. This is not a uniform charge and, that’s because it is levied as per the laws of varying states. Anyway, this always turns out to be the least under all circumstances.

The fourth category within the list belongs to GST. This is charged at a rate of 18%. However, this rate is applied to the sum of total brokerage and transaction charge as paid by the traders. GST is even charged on Margin Funding at 18% + charges.

The last three categories do not belong to taxes. In fact, these are related to the traders’ usage of company’s platforms. The first one on the list mentions the Account Reactivation Charges. These are charged at Rs.45 per segment.

The last one however, mentions Dematerialization Charges. This is charged at a rate of Rs.45. The company does not charge a penny for Account Closure Charges anyway.


Sykes & Ray Charges – Conclusion

We have disclosed everything about Sykes & Ray charges including Sykes & Ray Demat charges and more. So, now it’s up to you to decide whether you feel comfortable trading with them or not. Well, we’d like to remind you that the company has one of the lowest brokerage in the industry.


Open Demat Account with Sykes & Ray – Fill up the Form Now!

Fill Your Details Here
  1. Open Demat Account

 Most Read Articles

Discount Broker ReviewBest Discount Broker in India
Full Service Broker ReviewTop 10 Stock Brokers in India
Top Brokers in IndiaBest Full Service Broker in India
Best Demat AccountMargin Calculators
Brokerage CalculatorBest Mobile Trading Apps
Sub Broker FranchiseUpcoming IPOs
Broking FranchiseeBest Trading Platforms

 


Stock Broker Complaints

Leave a Reply

Your email address will not be published. Required fields are marked *

Get 90% Discount on Brokerage Now! Open Demat Account
×

Share your details & Become Sub Broker Now!

  1. Become Sub Broker

Offer valid for limited time.

×

Share your details & Open Demat A/C Now!

  1. Open Demat Account

Offer valid for limited time.

×

Share your details & Get IPO Allotment Now!

  1. Invest in IPO

Offer valid for limited time.

×

Share your details & Invest in PMS Now!

  1. Invest in PMS / PCG

Offer valid for limited time.