Is the brokerage charged per executed order or per lot?

How Punch calculates brokerage

On Punch, you pay a flat ₹1 brokerage per executed order. This means the number of lots in your order does not affect the brokerage amount.

What does this look like in practice?

Say you place a single order to buy 5 lots of Nifty options. Since this is one executed order, your brokerage is ₹1 — not ₹5. Even if you trade 10 lots in a single order, the brokerage stays at ₹1.

However, if you place two separate orders — for example, 3 lots in one order and 2 lots in another — each order is charged ₹1, so you would pay ₹2 in total brokerage.

Why does this matter?

Per-order pricing means that larger traders benefit significantly. The more lots you club into a single order, the lower your effective cost per lot becomes. This is one of the ways Punch keeps trading costs genuinely low.