MTFTerminalFII/DIIMarketsFunds
MC

MULTI COMMODITY EXCHANGE (MCX) — MTF Margin Comparison

Exchange: NSE · Available on 4 brokers · Updated daily

Best MTF Rate: 27.55% on Dhan(3.6x leverage)

MTF Margin Comparison — MCX

Upstox
34.59%
Margin Required
Leverage2.9x
You Pay₹3,459
You Get₹10,000
Interest18.25% p.a.
Max Hold365 days
Zerodha
29.5%
Margin Required
Leverage3.4x
You Pay₹2,950
You Get₹10,000
Interest14.6% p.a.
Max HoldUnlimited
Groww
29.44%
Margin Required
Leverage3.4x
You Pay₹2,944
You Get₹10,000
Interest14.95% p.a.
Max HoldUnlimited
BEST
Dhan
27.55%
Margin Required
Leverage3.6x
You Pay₹2,755
You Get₹10,000
Interest12.49% p.a.
Max HoldUnlimited

MULTI COMMODITY EXCHANGE — Complete Broker Comparison

ParameterUpstoxZerodhaGrowwDhan
MTF Margin34.59%29.5%29.44%27.55%
Leverage2.9x3.4x3.4x3.6x
You Pay (per ₹1L)₹34,590₹29,500₹29,440₹27,550
Broker Funds (per ₹1L)₹65,410₹70,500₹70,560₹72,450
Interest Rate (p.a.)18.25%14.6%14.95%12.49%
Daily Interest Cost₹20 per ₹40,000 slab/day₹40 per lakh/day₹41 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 (flat)₹20 per order
Pledge Charges₹20 per stock (one-time)₹15 + GST per ISINAuto-pledged (included)₹30 + GST per ISIN
Max Holding Period365 daysUnlimited (maintain margins daily)Unlimited (maintain margins)Unlimited (maintain margins)
Max Borrowing Limit₹25 lakhNo published limitNo 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 falls below requirementAuto-liquidation if margin coverage < 20%

Dhan offers the best margin of 27.55% for MCX, while Upstox requires 34.59% — a difference of 7.0 percentage points. This means you save ₹7,040 per ₹1 lakh invested by choosing Dhan.

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

Upstox
Your capital₹34,590
Broker funds₹65,410
Daily interest₹33
30-day cost₹981
Annual cost₹11,937
Zerodha
Your capital₹29,500
Broker funds₹70,500
Daily interest₹28
30-day cost₹846
Annual cost₹10,293
Groww
Your capital₹29,440
Broker funds₹70,560
Daily interest₹29
30-day cost₹867
Annual cost₹10,549
Dhan
Your capital₹27,550
Broker funds₹72,450
Daily interest₹25
30-day cost₹744
Annual cost₹9,049

* 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 MCX with MTF?

If you invest
₹10,000
Stock value you hold₹36,298
Dhan funds₹26,298
Margin used27.55%
If you invest
₹50,000
Stock value you hold₹1,81,488
Dhan funds₹1,31,488
Margin used27.55%
If you invest
₹1,00,000
Stock value you hold₹3,62,976
Dhan funds₹2,62,976
Margin used27.55%

Frequently Asked Questions — MCX MTF

What is the MTF margin for MCX?

Upstox: 34.59%, Zerodha: 29.5%, Groww: 29.44%, Dhan: 27.55%. The lowest margin is 27.55% on Dhan, meaning you only need to pay ₹2755 to buy ₹10,000 worth of MULTI COMMODITY EXCHANGE shares.

Which broker is cheapest for MCX MTF?

For margin percentage, Dhan offers the lowest at 27.55% (3.6x 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 MCX 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 MCX on margin?

Yes, MULTI COMMODITY EXCHANGE (MCX) is available for Margin Trading Facility (MTF) on Upstox, Zerodha, Groww, 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 MCX 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 MCX?

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 MCX?

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 MCX 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 MULTI COMMODITY EXCHANGE (MCX) Margin Trading

MULTI COMMODITY EXCHANGE (MCX) is listed on the NSE and is eligible for Margin Trading Facility (MTF) across 4 major Indian brokers: Upstox, Zerodha, Groww, Dhan. MTF allows you to buy MCX shares by paying only a fraction of the total value, with the broker financing the rest.

Currently, Dhan offers the best MTF margin of 27.55% for MCX. This means you can buy ₹1,00,000 worth of MULTI COMMODITY EXCHANGE shares by paying just ₹27,550, with Dhan funding the remaining ₹72,450.

MTF Interest Rates for MCX — Broker Comparison

The cost of holding MCX 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 MCX 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 MCX 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 MCX directly through our Scalper Terminal.