Short answer

On Arrow (trading member: iRage Broking Services LLP), F&O brokerage under the published Tariff Sheet is:

TypeBrokerage
Futures₹20 or 0.03% per executed order, whichever is lower
Options₹20 per executed order

Brokerage is also charged on expired, exercised, and assigned F&O contracts.

If you see about ₹40 on one “trade”

Often this is two executed orders (for example, entry and exit), each billed at ₹20 for options — which can look like ₹40 for the round trip. GST and statutory charges are separate line items.

If a single executed order shows more than the tariff

  1. Open the contract note and confirm segment, order ID, and brokerage line.
  2. Compare with brokerage charges.
  3. Contact Arrow support with the contract note if the line item does not match the Tariff Sheet.

Delayed payment / funding charges (if any) are not brokerage and appear separately when dues are unpaid.