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Call and trade charges are fees brokers charge when an investor places a buy or sell order over the phone with a dealer instead of using the broker’s online trading platform. The fee may be charged per order, depending on the broker.
Investors should check the broker’s latest tariff schedule before placing orders.
This article explains what call and trade charges are in detail.
Key Takeaways
- Call and trade charges are fees applied when you place an order by phone instead of through an online trading application.
- These charges are separate from regular brokerage, transaction charges, and Goods and Services Tax (GST), and are added on top.
- Most brokers charge a flat fee per executed order, between ₹20 and ₹50 plus GST.
- Auto square-off charges apply when open intraday positions are not closed manually, and the broker's system closes them near market close.
- The facility exists primarily as a contingency backup for situations where internet access or trading platform availability fails.
What is Call and Trade?
Call and trade are a phone-based order placement service offered by stockbrokers. When an investor cannot access a trading app or website, a call to the broker's designated support desk connects them to a dealer.
The dealer verifies account details, records the buy or sell instruction, and places the order on the stock exchange.
This facility operates across multiple market segments, including cash (equity), derivatives, and Initial Public Offering (IPO) applications.
It functions purely as a fallback mechanism. An investor with working internet access rarely requires it, as online orders execute faster and avoid manual handling fees.
What are Call and Trade Charges?
Call and trade charges represent the fee a broker collects for executing an order via a telephone conversation.
This fee is levied only after a trade is successfully executed on the exchange, not merely for calling the desk or requesting market information.
This fee is separate from standard trading costs. Regular brokerage, exchange transaction charges, Securities Transaction Tax (STT), stamp duty, and GST on brokerage still apply, as they would for standard digital orders.
Call and trade fees form an additional charge specific to manual phone execution.
Why Do Call and Trade Charges Exist?
Placing an order through a dealer requires direct human intervention. An executive must listen to instructions, confirm account identity, enter the order details into the terminal, and read back confirmation.
This workflow consumes significantly more time and operational resources than a self-service online order.
Brokers levy a separate fee to offset these manual handling costs.
Additionally, the fee discourages routine use of phone lines for orders that can be placed via an app, ensuring that phone channels remain accessible for genuine connectivity failures or emergency trade management during travel.
Call and Trade Charges Across Brokers
| Broker Type | Call and Trade / Auto Square-Off Charge (Base) | Application Basis | Total Debit (Including 18% GST) |
| Angel One | ₹20 | Per executed order | ₹23.60 |
| Discount Brokers (Range) | ₹20 to ₹30 | Per executed order | ₹23.60 to ₹35.40 |
| Full-Service Brokers (Range) | ₹25 to ₹50 | Per executed order | ₹29.50 to ₹59.00 |
Note: Tariff structures are subject to periodic revision. Investors should verify current rates on their broker's official fee schedule before utilising the service.
How to use the Call and Trade Facility
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Connect with Support: Dial the official customer support or trading helpline number provided by your broker using your registered mobile number.
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Navigate to the Dealer Desk: Follow the Interactive Voice Response (IVR) prompts or request the executive to transfer your call to an authorised trading dealer.
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Verify Identity: Provide mandatory security and account identification details to confirm account ownership before placing instructions.
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Specify Order Parameters: Clearly state the scrip name, transaction type (buy/sell), quantity, order type (limit/market), and price.
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Confirm Execution: The dealer executes the order on the exchange and provides an order confirmation. Always cross-check this confirmation against your online trading ledger later.
What are Auto Square Off Charges?
Auto square-off is a related mechanism that governs open intraday positions.
If an investor holds an intraday position and fails to close it manually before the broker's mandated cut-off time (configured near market close), the broker's automated risk management system squares off the position.
Because this action requires system or dealer intervention outside the investor's manual control, specific auto square-off terms apply.
While often grouped with call and trade discussions because they involve manual oversight, auto square-off rules are governed by the broker's risk policy for unclosed intraday exposures.
Role of Risk Management System (RMS) Liquidation
The process of forcibly closing these unmanaged positions is governed by the Risk Management System (RMS).
RMS Liquidation Defined:
RMS Liquidation is the automated protocol managed by a broker’s risk management department to monitor margins, leverage, and position timers in real time.
Triggering Action:
If an investor's available margin drops below the required maintenance level, or if the clock hits the broker's intraday cut-off threshold, the RMS automatically initiates liquidation. It places market orders to sell or buy back open positions to protect the broker from default risk.
The Cost:
RMS Liquidation forces order execution through the broker's risk desk or algorithmic systems rather than the trader's manual terminal. The broker charges Auto Square-Off / RMS Liquidation Charges (typically ranging from ₹20 to ₹50 + GST per executed order, depending on the brokerage policy).
Read More: What Is Square Off in Trading
Benefits of the Call and Trade Facility
- Enable order placement during internet outages or severe data connectivity failures.
- Allows multi-segment instructions to be communicated efficiently during urgent scenarios.
- Provides an accessible alternative for individuals unfamiliar with digital trading applications.
- Eliminates the need for physical paperwork for certain specialised order types.
- Helps manage time-sensitive derivative positions when digital access is restricted.
Things to Check Before Using Call and Trade
- Verify the exact per-order fee with your broker, as tariff rates update over time.
- Keep your client ID and verification credentials ready, as authentication is strictly mandatory.
- Review your electronic contract notes and ledger statements once digital access is restored to confirm trade details.
- Factor in that charges apply per order. Splitting large orders into multiple phone calls increases transaction costs.
- Treat the facility as an emergency backup rather than a primary trading method to avoid unnecessary fee accumulation.
Conclusion
Call and trade charges cover the operational cost of executing phone-based orders through a broker's dealer desk. Ranging between ₹20 and ₹50 plus GST, this fee is an addition to standard statutory and brokerage expenses. By understanding how the facility works, investors can maintain market access during unexpected connectivity disruptions without unexpected cost additions.
