Table of Contents
Flattrade vs. SMC Global: Account Opening and AMC Charges
Flattrade vs. SMC Global: Transaction Charges
Flattrade vs. SMC Global: Demat Transaction Charges
Flattrade vs. SMC Global: STT / CTT
Flattrade vs. SMC Global: SEBI Charges
Flattrade vs. SMC Global: Margin Exposure
Flattrade vs. SMC Global: Other Charges
If you want to know which broker is cheaper between SMC Global and Flat trade, you have clicked on right place. Here is a Flattrade vs. SMC Global comparison, comparing the charges of Flattrade and SMC Global across various key Charges like account opening charges, AMC charges, Delivery charges, option trading charges, Futures charges and many other type pf charges levied by broking industry. Go through this Article and make an informed decision while choosing the right platform for your trading requirements.
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Flattrade vs. SMC Global: Account Opening and AMC Charges
Both SMC Global and Flattrade do not impose any annual maintenance charges (AMC) for both trading and demat accounts.
However, it is worth noting that Flattrade charges a nominal fee of ₹200 plus GST for trading account opening, while SMC Global provides this service free of charge. And Flat trade also charges one time fee of DDPI for Demat Account One-time charge Rs.175 (inclusive of GST). So You have to Pay a total sum of around 411 Rs. for Account Opening in Flat trade.
Read on – Flattrade Charges 2024: Top Charges Explained for You.
Flattrade vs. SMC Global: Brokerage Charges
SMC Global has various brokerage plans where they charge in terms of % of transaction amount which increases with the number of stocks. And they also charge brokerage in futures and options on per lot basis which means higher the number of lots higher will be the brokerage charges.
But Flat trade is Zero Brokerage Platform where apart from account opening charges they do not charge any brokerage in any segment i.e. zero brokerage in delivery, zero brokerage in intraday and zero in F&O.
For more details, link to both brokers official website are given here. SMC Global and Flattrade
But Apart from brokerage charges, other regulatory charges are also applicable while trading these charges goes to regulatory bodies like NSE, BSE, SEBI, CDSL. NSDL and state govt. So broker can not reduce or abolish them. so these are explained and compared below.
Flattrade vs. SMC Global: Transaction Charges
In terms of transaction charges, Flattrade generally offers lower rates compared to SMC Global across various segments. For Currency Options, Flattrade charges 0.035% on NSE and 0.001% on BSE, whereas SMC Global charges a higher 0.065% on the premium. In Equity Futures, Flattrade imposes a rate of 0.002%, which is lower than SMC Global’s 0.0029%. Similarly, in Equity Intraday, Flattrade’s rates are generally lower than SMC Global’s, especially for securities other than Nifty 50 and Nifty Next 50.
In Equity Options, Flattrade charges 0.053% on the premium, which is less than SMC Global’s 0.065%. For Commodity trading, Flattrade also maintains a competitive edge with lower charges. In Currency Futures, Flattrade’s rates on both NSE and BSE are lower compared to SMC Global. Overall, Flattrade appears to have more cost-effective transaction charges across a range of trading instruments.
Flattrade vs. SMC Global: Demat Transaction Charges
In terms of Demat transaction charges, SMC Global and Flattrade differ slightly. SMC Global imposes a fee of ₹15 plus GST per scrip exclusively on sell transactions for equity, whereas Flattrade charges ₹20 plus GST per scrip only on sell transactions for equity.
Both brokerage firms provide a “Call Back Open Account” service, but the variation in transaction charges may influence the cost considerations for investors depending on their trading patterns and preferences.
Flattrade vs. SMC Global: STT / CTT
SMC Global and Flattrade have comparable Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) rates across various segments.
In Commodity Futures, both platforms charge 0.01% on the sell side (Non-Agri). For Currency Futures, neither imposes an STT. In Equity Intraday, both SMC Global and Flattrade levy 0.025% on the sell side.
For Equity Options, both platforms charge 0.05% on the sell side based on the premium, and in the case of option exercise, Flattrade adds an additional 0.125%. There is no STT for Currency Options on either platform. Equity Delivery on both platforms incurs a 0.1% charge on both Buy and Sell sides.
Lastly, in Equity Futures and Commodity Options, both SMC Global and Flattrade impose a 0.01% and 0.05% charge, respectively, on the sell side.
While there are some nuances in specific segments, the STT and CTT rates are largely comparable between SMC Global and Flattrade across different trading categories.
Flattrade vs. SMC Global: GST
Both SMC Global and Flattrade impose an 18% Goods and Services Tax (GST) on the cumulative amount of brokerage and transaction charges for Equity, Currencies, and Commodities transactions, including both Delivery and Futures and Options (FNO).
However, Flattrade goes a step further by including SEBI charges in the taxable amount, making their GST calculation slightly more comprehensive. Investors should consider these variations in GST structures when choosing between the two platforms, depending on their specific trading preferences and requirements.
Flattrade vs. SMC Global: SEBI Charges
Flattrade and SMC Global charges ₹10 per crore for Equity, Currencies, and Commodities transactions, including both delivery and futures and options (FNO) trading. This uniformity in SEBI charges for these asset classes indicates a competitive pricing structure, offering traders a similar cost structure for their investment activities on both platforms.
Flattrade vs. SMC Global: Margin Exposure
SMC Global and Flattrade offer comparable margin exposure across various trading segments. In Equity Options, Currency Options, Commodity Options, Commodity Futures, Currency Futures, and Equity Futures, both brokers provide a margin exposure of 1x, equivalent to 100% of NRML margin (Span + Exposure). For Equity Intraday trading, both SMC Global and Flattrade allow a margin exposure of 5x, up to 20% of the trade value.
In the case of Equity Delivery, both brokers offer a margin exposure of 1x, reflecting 100% of the trade value. The similarity in margin offerings suggests that investors looking for margin trading opportunities can find similar options with either SMC Global or Flattrade across different market segments.
Read on: Flattrade Trading: Top 15 Reasons to Go For It.
Flattrade vs. SMC Global: Other Charges
SMC Global offers a unique advantage with no RMS Square Off Charge, API Charges, Call & Trade Charges, and Minimum Brokerage, making these services free for the users. On the other hand, Flattrade imposes a ₹50 + GST RMS Square Off Charge and Call & Trade Charges, along with a ₹20 + GST charge for Equity Options and Currency Options.
Additionally, Flattrade levies no API Charges and has no minimum brokerage. SMC Global introduces various brokerage charges based on account types, such as Elite, Premia, Preferred, Lite-Basic, and Basic, with percentages ranging from 0.015% to 0.04%. In contrast, Flattrade does not impose any other brokerage charges, making it a more cost-effective option in this regard.
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Conclusion
Choosing between Flattrade and SMC Global depends on your individual preferences, trading/investing style, and financial goals. Because SMC Global has been working for a very long time in industry and offers diverse range of services like PMS, Full service broking, Insurance, Advisory etc, so it is preferable for long term investors.
While Flat trade is a Zero Brokerage + Lifetime Free demat account so it is preferable for the traders because they can save lot of cost which incur in the form of brokerages.
IF we compare both of them solely on the basis of charges then flat trade comes out to be a cheaper option.
you can also open demat account in Angelone if you are an investor and in Upstox if you are a trader.
