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HDFC Gold ETF (HDFCGOLD) — MTF Margin Comparison

Exchange: NSE · Available on 3 brokers · Updated daily

Best MTF Rate: 29.94% on Zerodha(3.3x leverage)

MTF Margin Comparison — HDFCGOLD

Upstox
50%
Margin Required
Leverage2.0x
You Pay₹5,000
You Get₹10,000
Interest18.25% p.a.
Max Hold365 days
BEST
Zerodha
29.94%
Margin Required
Leverage3.3x
You Pay₹2,994
You Get₹10,000
Interest14.6% p.a.
Max HoldUnlimited
Groww
Not Available
Dhan
29.95%
Margin Required
Leverage3.3x
You Pay₹2,995
You Get₹10,000
Interest12.49% p.a.
Max HoldUnlimited

HDFC Gold ETF — Complete Broker Comparison

ParameterUpstoxZerodhaDhan
MTF Margin50%29.94%29.95%
Leverage2.0x3.3x3.3x
You Pay (per ₹1L)₹50,000₹29,940₹29,950
Broker Funds (per ₹1L)₹50,000₹70,060₹70,050
Interest Rate (p.a.)18.25%14.6%12.49%
Daily Interest Cost₹20 per ₹40,000 slab/day₹40 per lakh/day₹34.2 per lakh/day (up to ₹5L)
Brokerage0.1% or ₹20/order (whichever is lower)0.3% or ₹20/order (whichever is lower)₹20 per order
Pledge Charges₹20 per stock (one-time)₹15 + GST per ISIN₹30 + GST per ISIN
Max Holding Period365 daysUnlimited (maintain margins daily)Unlimited (maintain margins)
Max Borrowing Limit₹25 lakhNo published limit₹1 crore (₹20L per stock)
Auto Square-OffAuto square-off if margin shortfall not met by T+4Auto square-off if margin falls below minimumAuto-liquidation if margin coverage < 20%

Zerodha offers the best margin of 29.94% for HDFCGOLD, while Upstox requires 50% — a difference of 20.1 percentage points. This means you save ₹20,060 per ₹1 lakh invested by choosing Zerodha.

HDFCGOLD MTF Interest Cost Calculator (per ₹1 Lakh Investment)

Upstox
Your capital₹50,000
Broker funds₹50,000
Daily interest₹25
30-day cost₹750
Annual cost₹9,125
Zerodha
Your capital₹29,940
Broker funds₹70,060
Daily interest₹28
30-day cost₹841
Annual cost₹10,229
Dhan
Your capital₹29,950
Broker funds₹70,050
Daily interest₹24
30-day cost₹719
Annual cost₹8,749

* Interest calculated on broker-funded amount only. Actual cost depends on daily closing balance. Rates may vary — verify with your broker.

How Much Can You Invest in HDFCGOLD with MTF?

If you invest
₹10,000
Stock value you hold₹33,400
Zerodha funds₹23,400
Margin used29.94%
If you invest
₹50,000
Stock value you hold₹1,67,001
Zerodha funds₹1,17,001
Margin used29.94%
If you invest
₹1,00,000
Stock value you hold₹3,34,001
Zerodha funds₹2,34,001
Margin used29.94%

Frequently Asked Questions — HDFCGOLD MTF

What is the MTF margin for HDFCGOLD?

Upstox: 50%, Zerodha: 29.94%, Dhan: 29.95%. The lowest margin is 29.94% on Zerodha, meaning you only need to pay ₹2994 to buy ₹10,000 worth of HDFC Gold ETF shares.

Which broker is cheapest for HDFCGOLD MTF?

For margin percentage, Zerodha offers the lowest at 29.94% (3.3x leverage). However, for interest cost, Dhan starts at 12.49% p.a., Zerodha charges ~14.6% p.a., Groww charges 14.95% p.a., and Upstox charges ~18.25% p.a. The total cost depends on both margin percentage and interest rate — compare both before choosing.

What interest rate do brokers charge on HDFCGOLD MTF?

Dhan: 12.49% p.a. (lowest, tiered up to 16.49%). Zerodha: ~14.6% p.a. (₹40 per lakh/day). Groww: 14.95% p.a. (₹41 per lakh/day). Upstox: ~18.25% p.a. (₹20 per ₹40K slab/day). Interest accrues from T+1 on the broker-funded amount until you sell.

Can I buy HDFCGOLD on margin?

Yes, HDFC Gold ETF (HDFCGOLD) is available for Margin Trading Facility (MTF) on Upstox, Zerodha, Dhan. MTF allows you to buy shares by paying only a fraction of the total value. The broker funds the rest and charges daily interest on the funded amount.

How long can I hold HDFCGOLD on MTF?

Upstox: maximum 365 days. Zerodha, Groww, and Dhan: unlimited holding period as long as you maintain the required margins daily. If your margin falls below the minimum, the broker will auto-liquidate your position.

What are the pledge charges for HDFCGOLD?

Upstox: ₹20 per stock (one-time). Zerodha: ₹15 + GST per ISIN. Dhan: ₹30 + GST per ISIN. Groww: auto-pledged (included in the process). Pledge charges are per ISIN, not per trade — you pay once regardless of quantity.

What happens if margin falls below minimum for HDFCGOLD?

All brokers will auto-liquidate your MTF position if margin maintenance is not met. Upstox gives until T+4 to top up. Zerodha and Groww require same-day/next-day top-up. Dhan auto-liquidates if coverage falls below 20%. Always maintain adequate margins to avoid forced sell-off.

What is the maximum borrowing limit for HDFCGOLD MTF?

Dhan: up to ₹1 crore total (₹20 lakh per stock). Upstox: up to ₹25 lakh total. Zerodha and Groww: no published maximum limit. Actual leverage depends on the stock's margin requirement set by the exchange.

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Find the broker with the lowest margin requirement for every stock. Updated daily with real data from Upstox, Zerodha, Groww & Dhan.

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About HDFC Gold ETF (HDFCGOLD) Margin Trading

HDFC Gold ETF (HDFCGOLD) is listed on the NSE and is eligible for Margin Trading Facility (MTF) across 3 major Indian brokers: Upstox, Zerodha, Dhan. MTF allows you to buy HDFCGOLD shares by paying only a fraction of the total value, with the broker financing the rest.

Currently, Zerodha offers the best MTF margin of 29.94% for HDFCGOLD. This means you can buy ₹1,00,000 worth of HDFC Gold ETF shares by paying just ₹29,940, with Zerodha funding the remaining ₹70,060.

MTF Interest Rates for HDFCGOLD — Broker Comparison

The cost of holding HDFCGOLD on MTF depends primarily on the interest rate charged by your broker on the funded amount. Dhan offers the lowest starting rate at 12.49% p.a. (₹34.2 per lakh/day), followed by Zerodha at ~14.6% p.a., Groww at 14.95% p.a., and Upstox at ~18.25% p.a.

When choosing a broker for HDFCGOLD MTF, consider both the margin percentage (which determines how much capital you need) and the interest rate (which determines your holding cost). A broker with a slightly higher margin but lower interest rate may be cheaper overall for longer holding periods.

Holding Period & Square-Off Rules

Upstox allows holding HDFCGOLD on MTF for up to 365 days. Zerodha, Groww, and Dhan offer unlimited holding as long as you maintain the required margins daily. If your margin falls below the minimum, all brokers will automatically square off your position. Upstox gives a buffer until T+4, while Dhan auto-liquidates when coverage falls below 20%.

Pledge & Brokerage Charges

MTF trades are settled via pledge mechanism — your shares are pledged to the broker as collateral. Pledge charges: Upstox ₹20/stock, Zerodha ₹15+GST/ISIN, Dhan ₹30+GST/ISIN, Groww auto-pledges at no extra charge. Brokerage: Zerodha charges 0.3% or ₹20 (whichever is lower), Upstox 0.1% or ₹20, Groww and Dhan charge ₹20 flat per order.

Looking for more stocks? Browse our complete MTF stocks directory with 1837+ stocks, or use the MTF comparison table to find the best margins across all brokers. You can also trade HDFCGOLD directly through our Scalper Terminal.