This article focuses on presenting in a much scrutinized manner every aspect of Veracity Finance charges. In this article, we will discuss in detail the charges levied on services like transaction, brokerage charges, Veracity Finance Demat charges for account opening and its AMCs.
Veracity Finance is the broker with new ideologies and, it fits well in the current era. It has earned a good amount of success in financial services. Strong set of talented teams are set, who have brought success to the broker.
Each service category has many more parts and, the tables below explain it all in an organized manner. On top of all, Veracity Finance is known for its impeccable customer service. So, without wasting any time, let’s dig into the details.
Veracity Finance Brokerage Charges
Veracity Finance is not only premium in terms of its performance but also in terms of its Brokerage charges. The Veracity Finance Brokerage charges are rather competitive as per the market standards. Below table will present you the clear picture of list of services and rates incurred on them:
|Equity Options||Rs.35 per Lot|
|Currency Options||Rs.35 per Lot|
|Flat Monthly Fees, if any||NA|
Veracity Finance brokerage charges are high but it’s performing extremely well in the market.
So, high rates are definitely charged to provide extraordinary service to its customers. Aforementioned table enlists services in twelve distinct categories and the related prices.
The Equity Delivery trading is charged at a rate of 0.35%. Equity Intraday, Equity Futures and Currency Futures trading are charged 0.04% each. Equity Options and Currency Option trading are charged at a rate of Rs.35 per lot respectively and, the Demat AMC is levied at Rs.350 per annum.
Trading account AMCs are exempted and nothing needs to be paid for its maintenance. The broker even provides leverages on certain trade executions. These leverages are provided in the manner of trade exposure. This enables the traders to fetch in a couple more shares.
Veracity Finance has a requirement other than interest for allowing these schemes. A minimum amount of Rs.5,000 is required as Margin Money balance. This is least required balance in order to capitalize the trade leverage schemes.
This seems high and, traders need to be extremely cautious while trading, ensuring not to go below minimum margin. This can also lead to a positive outcome. This package induces individuals to be very intelligent while investing and not being impulsive.
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Veracity Finance Account Opening Charges
Veracity Finance is into providing services based on indigenous technology and thorough research. It provides advisory tools, advanced knowledge and training programs to give customers service equivalent to international standards.
The table underneath shows exact charges applicable for Veracity Finance account opening procedures.
|Trading Account Opening Charges [One Time]||Rs.330|
|Trading AMC [Yearly]||Free|
|Demat Account Opening Charges [One Time]||Free|
|Demat AMC [Yearly]||Rs.350 per Annum|
|Margin Money||Minimum Rs.5,000|
|Brokerage Calculator||Veracity Financial Brokerage Calculator|
|Margin Calculator||Veracity Finance Margin Calculator|
Veracity Finance offer free trading facilities to its traders. This means that Veracity Finance trading charges are as good as zero. In similar line Veracity Finance AMC charges for Trading Account is zero as well. Positively even Demat Charges are nil.
This means that all services related to trading can be started without any payment. Now, that is delightful. Nevertheless, the broker requires a payment of Rs.350 per annum. The amount is charged as AMC for the Demat Accounts.
Margin Money requirement is high as mentioned previously. The broker has specified an amount of Rs5,000 as minimum for this purpose. Still, if output is encouraging margin money should not be of any concern.
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Veracity Finance Transaction Charges
The broking house was founded by Shree Kanaksinh Gohli on 20th January 2012. Shree Kanaksinh Gohil is counted amongst the most experienced of stockbrokers. Veracity Finance’s headquarters is located in Ahmedabad, Gujarat and, the broker uses it to provide currency derivatives & equity markets trading.
Veracity Finance transaction charges are as per market standards. List of services as provided by the broker is displayed in the table underneath:
|Transaction Charges 2019||0.00315%|
Transaction charges are something which are levied in addition to brokerage charges. These charges are implied on each transaction carried by trader and, they’re imposed as a must by all trade brokers. A fixed rate of 0.00315% is incurred on all transaction options.
That means Veracity Finance charges this exact amount for all transactions under Equity Delivery, Equity Intraday, Equity Futures, Equity Options, Currency Futures, Currency Options and also Commodity Trading.
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Veracity Finance Other Charges
Government always has a role in tax extraction in any kind of business. Even financial stock brokers are not exempted from this. In fact, the government encourages the brokers to impose taxes and, this extra money is subsequently incurred from traders.
So, Veracity Finance charges the traders these taxes in obligation to the government. For details you must scroll through the table below:
|SEBI Turnover Charges||0.0002% of Total Turnover|
|STT||0.0126% of Total Turnover|
|Stamp Duty||0.002% – 0.004% – Depends on State|
|GST||18% of (Brokerage + Transaction Charges)|
|Margin Funding Charges||18% + GST|
|Reactivation Charges||Rs.45 per Segment|
|Account Closure Charges||Zero|
Above is a list of different segments of services and associated charges. These set of charges fall in Veracity Finance other charges domain. SEBI Turnover Charges are charged at the rate of 0.0002% of total turnover.
The next category is STT or Securities Transaction Tax. This is incurred at 0.0126% of total turnover. Stamp Duty is also charged. Stamp duty varies with every state. It’s a minimal amount nonetheless. GST is charged at the rate of 18% of brokerage and transaction charges when combined.
The Margin Funds are charged with 18% plus GST. Interestingly, both account closure and reactivation of account is charged Rs.50 per segment. Dematerialization incurs a charge of Rs.65 and it’s apparently essential to Dematerialize trade for swift transactions.
Veracity Finance Charges – Conclusion
This article has provided a clear picture of Veracity Finance brokerage charges, transaction charges, Veracity Finance Demat Charges and much more. The broker seems committed to help investors and traders to make correct decisions.
It offers both online and offline trading in the currency and equity segment. It is a member of major exchanges like NSE, BSE, MCX and NCDEX. Here, we discuss the Trading account opening and various other services, along with the taxes solicited by the government are also discussed.
They provide customers with world class research and advisory support. In short, Veracity Finance is a typical full service stockbroking broker. It very efficiently caters to numerous stock trading products and services. In our opinion it’s an interesting broker and may offer high profits to strategic investors.
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