While trading, you need to be mindful of several attributes. You must also make various calculations to ensure the best outcomes. But manually doing so often leaves room for errors. It hinders your success rate and, thus, your chances of earning profits. Hence, most traders use a Brokerage calculator instead. It is an online tool that computes accurate values of different aspects.
Some examples include duty charges, transaction fees, GST, etc. This way, it allows them to make sound investment decisions.Here are some other reasons why investors swear by this tool:
Systematic breakup of charges
Investors need to consider numerous factors when trading. But carrying them out manually is no less than an arduous task. This is when a Brokerage Charges calculator comes in handy. It gives traders a detailed breakup of different charges. For example, you can use the Calculator to estimate each trade’s net profit/loss. You can also obtain the brokerage charges for a specific commodity.
While trading, you should be a cent per cent sure of every detail. If you rely on inaccurate figures, things can go south quickly. Hence, investors swear by a Brokerage Calculator. Besides being convenient, it offers unmatched accuracy in terms of values. For example, you wish to determine the turnover fee for a trade. Now,enter the details of the trade. Based on the inputs, the Calculator will give you the exact figure.
Easy to use
Using a Brokerage Calculator is easy. You do not have to be an expert trader to avail of its benefits. The steps are pretty self-explanatory and simplistic. Plus, this tool is readily available online. You find it on any trading portal when you open Demat Account online.
Free of cost
There is no fee involved for using a Brokerage Calculator.You need not pay any hidden charges to gain access to it.Besides, it is available for usage 24×7. All you need is a smartphone or a laptop and an internet connection.
Range of charges
This handy tool calculates a host of Brokerage and trading charges for:
- Futures & options
- Intraday & carry forward transactions
- Custom Duty
- General & Service Taxes (GST)
- Service Transaction Tax (STT)
- Delivery charges
How to use it?
Here is a quick and rough guide on how to use the Brokerage calculator:
Step 1:Visit your trading platform’s home page
Go to your trading platform’s home page and look for the calculator option.
Step 2: Enter trading details
For different values, you will needto enter different details. For example, if you want to compute Brokerage charges,enter the following:
- Number of shares bought/sold
- Price of one unit of stock
- Brokerage percentage
Step 3: Press calculate
After cross-checking your inputs, select calculate option. Within no time, you have your results.