Action Financial Services will now offer brokerage services at just one paisa per executed trade. The brokerage firm has launched a scheme where members with a demat-cum-trading account can trade in any share on any of the stock exchanges by paying just one paisa brokerage for all executable orders (intra-day and delivery) without any advance or pre-paid brokerage.
Customers will be required to register with the company’s Web site and become members. Investors can become members by paying an interest free refundable deposit and choosing one of the various membership options available. The ‘Silver’ scheme has a refundable security deposit of Rs 5,000, the ‘Gold’ scheme will have a deposit of Rs 15,000, the ‘Diamond’ scheme will have a deposit of Rs 25,000 and the ‘Platinum’ scheme will have a deposit of Rs 50,000. However, nominal annual maintenance charges are applicable on these schemes.
The brokerage will charge zero annual maintenance charges on the demat account for life. Among other things, the brokerage will also not charge ‘percentage brokerage’ for offline and online trades through their Web site.