Altos launches flat-fee commodities broking

Altos Advisory Services, a derivatives and commodities broking services firm, today announced the launch of flat-fee based discount brokerage model for online trading.

As against the present market brokerage rate of 0.03- 0.05% of the trade value, Altos will charge its customers only a flat monthly fee of Rs 499 per exchange, irrespective of the value or volume, Manoj Kesavan, vice president of Altos, said.

Altos, which is a trading and clearing member of National Multi-commodities Exchange (NMCE), Multi-commodity Exchange (MCX), and the National Commodities and Derivatives Exchange (NCDEX), will charge Rs 499 per exchange per month for transactions.

S J Suresh Kumar, COO of Altos, said: "Our flat-fee based discount brokerage model will drastically bring down the brokerage component in commodity trades, and will result in the expansion of the trading community in India."