'₹10 per Order' Brokerage: What One Options Trade Really Costs After STT, Exchange Charges and GST
'Only ₹10 per order' sounds like trading is almost free. Brokerage is just one of six charges on every options trade, and since April 2026 the government's STT on options has risen by half. Here is what a trade really costs, what a cheaper broker actually saves you, and why cost is rarely the main reason traders lose.
- Brokerage (2 orders)₹20
- STT (0.15% on sale)₹12
- Exchange charges₹6
- GST (18%)₹5
Total₹43
In this guide
Quick answer
- Six charges, not one: brokerage, STT, exchange charges, SEBI fees, stamp duty and GST.
- STT on options rose from 0.10% to 0.15% of the premium on sale, from April 1, 2026.
- In our example (75 units, ₹100 to ₹110, ₹10 per order), the round trip costs about ₹43; brokerage is under half of it.
- ₹10 vs ₹20 per order saves about ₹24 per round trip with GST; about ₹17,700 a year at 3 trades a day.
- Check the whole tariff: maintenance, call-and-trade, square-off and margin interest charges.
- Costs are not the main problem: about 88% of individual F&O traders lost money in 2025-26.
Discount brokers now compete on "₹10 per order" or "₹20 per order" for options. That number is real, but it is only the broker's own fee. The government and the exchange add their charges to every trade, whichever broker you use. This guide does not refer to any particular broker; it uses the standard NSE equity options rates.
Every charge on an options trade
| Charge | Rate (NSE equity options, November 2026) |
|---|---|
| Brokerage | Set by your broker, e.g. ₹10 or ₹20 per order |
| Securities Transaction Tax (STT) | 0.15% of premium, on the sell side |
| Exchange transaction charges | about 0.0355% of premium, buy and sell |
| SEBI turnover fee | ₹10 per crore of premium |
| Stamp duty | 0.003% of premium, on the buy side |
| GST | 18% on brokerage + exchange + SEBI charges |
If an option you bought is exercised at expiry, STT of 0.15% applies on the intrinsic value, which can be much larger than on a normal sale. Many traders close positions before expiry partly for this reason.
Calculate your own trade
Options trade charges
What the example shows
Our example, also shown in the chart above: 75 units bought at ₹100 and sold at ₹110, with ₹10 per order.
- Gross profit: ₹750.
- Charges: about ₹43: brokerage ₹20, STT about ₹12.4, exchange charges about ₹5.6, GST about ₹4.6, stamp duty and SEBI fees under ₹1.
- Brokerage is less than half of the cost. Even with zero brokerage (and so no GST on it), about ₹19 of charges remain.
- Breakeven: the option must rise about 57 paise per unit just to cover charges.
- At 3 round trips a day for 250 days, charges come to about ₹32,000 a year, before a single losing trade.
What a cheaper broker actually saves
Moving from ₹20 to ₹10 per order saves ₹20 per round trip, plus the 18% GST on it: about ₹23.6.
| Round trips a day | Yearly saving (250 days) |
|---|---|
| 1 | about ₹5,900 |
| 3 | about ₹17,700 |
| 5 | about ₹29,500 |
That is worth having if you trade often. But it is small next to the average loss SEBI found among individual F&O traders in 2025-26, about ₹1.17 lakh. And very cheap trades can quietly encourage more trades, which usually means more cost and more risk. See our guide on checking a trading course before you pay for SEBI's full data.
Other charges to check
- Account maintenance charges (annual or quarterly).
- Call-and-trade fees for orders placed by phone.
- Auto square-off charges if the broker closes your intraday position.
- Interest on margin trading funding (MTF), if you use it.
- Platform, API or "premium tool" subscriptions.
- Slippage: the gap between the price you see and the price you get, especially in thinly traded options. It never appears on the contract note but can cost more than all the charges.
Final word
"₹10 per order" is a genuine saving on one of six charges. After the 2026 STT increase, government and exchange charges are a large part of every options trade, whichever broker you choose. Use the calculator with your own numbers, read your broker's full tariff and your contract notes, and remember that what decides most traders' results is the trades themselves, not the brokerage.
This guide is general information, not investment advice. It does not refer to any particular broker. Charges are at NSE equity options rates as of November 2026 and may change; your contract note shows the actual charges. Our example figures are our own calculations.
How we made this guide
- Facts checked against 3 sources, listed at the end of the guide.
- Worked examples and calculations are our own, with the assumptions stated in the guide.
- Last updated November 5, 2026. We revise guides when rules and prices change.
Frequently asked questions
What charges apply to an options trade in India?
On NSE equity options: brokerage set by your broker; STT of 0.15% of the premium on the sell side (from April 2026); exchange transaction charges of about 0.0355% of premium on both sides; SEBI fees of ₹10 per crore; stamp duty of 0.003% on the buy side; and 18% GST on brokerage, exchange and SEBI charges. Your contract note lists them all.
How much did STT on options go up in 2026?
The Union Budget 2026 raised STT on the sale of options from 0.10% to 0.15% of the premium, and on options exercised from 0.125% to 0.15%, with effect from April 1, 2026. STT on futures went from 0.02% to 0.05%.
How much does ₹10 per order save compared with ₹20 per order?
₹20 per round trip (₹10 on each of the two orders), plus 18% GST on that, about ₹23.6. At 3 round-trip trades a day for 250 trading days, that is roughly ₹17,700 a year. That is a real saving, but small compared with typical trading losses.
What is my breakeven on an options trade?
Divide the total charges for the round trip by the quantity. In our example, about ₹43 of charges on 75 units means the option has to rise by about 57 paise just for you to break even, before any slippage.
Are there other charges besides those on the contract note?
Possibly: account maintenance charges, call-and-trade fees, auto square-off fees, interest on margin trading funding, and fees for some platform tools or APIs. Read your broker's full tariff sheet, not just the headline brokerage.
Does lower brokerage help traders make money?
It reduces one cost, but SEBI's studies found about 88% of individual F&O traders lost money in 2025-26, and most of those losses came from the trades themselves, not from charges. Cheap brokerage can also tempt people to trade more often.