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Are you a commodity trader? If yes, you can consider opening a commodity trading account with HDFC Sky. Read all the details about HDFC Sky commodity trading review including the reasons why to open HDFC Sky commodity account, account opening charges, commodity trading brokerage fee and platforms offered for MCX trading.
Let’s first understand the process to setup a commodity trading account with HDFC Sky.
Open a free HDFC Sky commodity trading account at Rs 0 charges at zero paperwork. Simply, register your KYC digitally, submit requisite documents, and that’s it your commodity account with HDFC Sky will be opened and you can start commodity trading.
Here’s the step-by-step process to open HDFC Sky commodity account online;
If you already have an equity trading account with HDFC Sky, you just have to activate the derivative segment to start MCX derivative trading.
To enable MCX trading, log in to your HDFC Sky trading account, go to profile settings, and click on active segments. Now, select derivative (F&O) segment and submit an income proof to the broker.
Once the details are verified, you will receive an email for commodity account activation.
No charges, yes opening an equity and commodity account with HDFC Sky is free at Rs 0 account opening fee.
HDFC Sky offers trading in all segments be it Indian stocks, equity F&O, currencies, or commodities. Commodity traders can start trading on MCX in different commodities like gold, silver, etc.
HDFC Sky is a good broker, if you are looking for the commodity trading platform with the cheapest brokerage. As the maximum brokerage charged is Rs 20/order on commodity F&O intraday and carry forward trades.
| Segment | Brokerage |
| Commodity futures brokerage| Intraday and carry forward | Rs 20 or 0.01%, whichever is lower |
| Commodity options brokerage| Intraday and carry forward | Rs 20/order |
No margin, yes HDFC sky discount broker does not offer margins on trading in MCX. It only offers MTF facility on stocks at 12% interest. Thus, MCX trading requires 100% upfront money in your HDFC Sky trading account.
Trade in HDFC Sky using its mobile app or website. But, the broker does not have any commodity desktop trading software.
Yes, HDFC Sky is a one-stop-shop for all your trading and investing needs of equity and derivative trading.
HDFC Sky is a member with MCX commodity exchange to provide commodity F&O trading services to all users.
HDFC Sky has a simple pricing model that charges Rs 20 on all intraday and F&O trades.
Whether you are a day trader or trade in derivatives segment (Equity, currencies, or commodities), the brokerage you have to pay is Rs 20 each executed order.
Yes, HDFC Sky app is a mobile trading application to trade or invest in multiple asset classes. HDFC Sky users can use the app to buy and sell commodity futures & options contracts using their mobile phone.
HDFC Sky app can be installed on any Android device or iOS smartphone devices. The app is offered free at Rs 0 platform fee.
A commodity trader can place an intraday and carry forward trades while trading on MCX with HDFC Sky. Whether you want to buy and sell commodity futures contract or options contract, you can place an intraday or carry forward trade.
Intraday trade is a trade where all open commodity trade positions will be squared off the same day.
However, in carry forward trades, a commodity trader hold their positions means commodity trades are not closed or squared off the same trading day.
No, HDFC Sky does not have an installable desktop trading terminal or software for trading in stocks and commodities.
The discount stock broker HDFC Sky only allows users to trade in commodity derivatives using mobile app and its trading website.
HDFC Sky is an all-in-one financial platform that allows trading and investment across multiple segments.
You can trade or invest in stocks and equity derivatives listed on BSE and NSE, CDS (currency derivatives), and MCX (commodity derivatives).
Further, you can also invest in primary market or IPOs and mutual funds.
