What is the maximum brokerage a broker can charge?

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The maximum brokerage that can be charged by a broker may differ across stock exchanges. As per the BSE & NSE Bye Laws, the brokerage that can be charged by a stockbroker is as follows:

Capital Market Segment: The maximum brokerage chargeable by a stockbroker shall be 2.5 % of the contract price exclusive of statutory levies. Where the sale/purchase value of a share is Rs.10/- or less, a maximum brokerage of 25 paise per share may be collected. 

Futures contracts: Page 6 of 10 The maximum brokerage chargeable by a stockbroker in relation to trades executed on the stock exchange shall be 2.5% of the contract value exclusive of statutory levies. 

Option contracts: The stockbroker shall charge brokerage for option contracts on the premium amount at which the option contract was bought or sold and not on the strike price of the option contract. The brokerage on options contracts shall not exceed 2.5% of the premium amount or Rs.100/- (per lot), whichever is higher. In the derivatives segment, brokerage can only be charged in respect of trades executed on the stock exchange hence, brokerage cannot be levied on expiry/exercise/assignment of contracts