Are there any costs in trading that are not too obvious but can make an impact?

These are a set of costs which are not debited to your contract note or to your ledger. On the contrary, they show up as hidden costs over a period of time and show up in your portfolio performance. For example, liquidity costs can be quite high in the case of mid-cap and small-cap companies. Similarly, spread costs can be quite steep when you are trading in shallow markets or in volatile markets. These will lead to sub-optimal transaction pricing and poor investment performance. All these costs also need to be considered.