Kotak Securities – Broker Review
Looking to open demat account? Is it Kotak Securities? Are you overwhelmed by “Free Intraday Trading” facility from Kotak Securities? Well, before you go ahead, you should read this Kotak Securities review first.
Account Opening with Kotak Securities
Opening account with Kotak Securities is extremely easy. All you have to do is fill an online form and you are done. Rest will be taken care by Kotak Securities. You can simply go for Kotak Securities Demat Account or you can also switch to 3-in-1 – Kotak Savings, Demat and Trading – Account. This 3-in-1 Account saves you from hassles of Fund Transfer.
Once you fill out the form, they will send an agent for further formalities like to collect physical copy of your proofs and to get your sign on necessary documents.
He will explain each and every detail to you including the charges for all kinds of trades and other benefits you will be getting from Kotak Securities.
Kotak Securities’ Brokerage Charges
There are many full-Stock brokers in India, offering services like buy or sell calls, reports, analysis, etc. But that is not the base for people to select a demat account. Instead, they focus more on low brokerage charges to save money and enjoy maximum profit.
We will discuss the same first.
Let’s see various charges of Kotak Securities
If you open a Normal Demat Account:
Demat Account Opening Charges
Intraday Trading Charges
0.049% Per Transaction / Rs. 0.03 Per Share / Rs. 21 on both sides (whichever is higher)
Equity Delivery Charges
0.49% Per Transaction / Rs. 0.04 Per Share /
Rs. 21 on both sides (whichever is higher)
Equity Future Brokerage
0.049% (Both side)
Equity Options Brokerage
Rs.300 Per lot
Demat Account Maintenance Charges
Rs.50/ Month (For Residents)
Rs.75/ Month (For NRIs)
Note: You don’t have to pay maintenance charges if you are not doing any transactions or holding any securities, throughout the year.
Kotak Securities have different plans as per your brokerage needs. It charges accordingly. One such plan,grabbing attention of all Intraday Traders, is “Free Intraday Trading” plan where they don’t charge any brokerage for intraday positions. Let’s discuss this plan further:
Free Intraday Trading Plan of Kotak Securities
If you open account under “Free Intraday Trading” facility:
Demat Account Opening Charges
Rs. 999 + GST.
Intraday Trading Charges
Note: Charges for delivery and maintenance will be the same
This is a unique selling point of Kotak Securities. Day traders just rush around by reading these “Free Intraday Trading” words, so I thought to elaborate the drawbacks of this plan.
Drawbacks of Free Intraday Trading
- Of course, you won’t be paying intraday brokerage charges but that doesn’t eliminate other charges like mandatory brokerage charge which is 1 paisa per script, standard taxes, etc.
- Free Intraday Trading is available for those who place orders on their own. With On-Call or on-chat trades, you have to pay regular Intraday charges
- Free Intraday Trading is available for Equity and F&O only. It doesn’t cover commodities and currency trading.
- If you carry the position overnight, you have to pay regular charges.
Note: If you are opening Demat account for the first time, check out the charges of other Stock Brokerage companies.
Kotak Securities offer Margin Limit up to 7 times depending on the type of stock.
Kotak Securities’ Trading Platforms: kotak securities login – you can login Kotak Securities Trading account and Trade.
Basically, Kotak Securities offer 3 tools for trading activities.
- Website: An online website to place your trading orders. You will have access to all services of Kotak Securities through this website.
- KEAT Pro X: It’s a high-speed web-based trading platform to perform trading activities. Here you can maintain your portfolio and track the live market.
- Kotak Stock Trader Mobile App: If you want to have access to all services at your fingertips, from anywhere at any time, Kotak Stock Trader Mobile app is a best solution.
Extra Benefits from Kotak Securities
Those who are looking for something more than a demat account, and they are ready to pay charges higher than other brokerage houses, Kotak is a good choice. It comes with extra ordinary benefits, for traders as well investors, helping them to take decisions.
- Buy and Sell Calls
If you are new to whole trading world, you can simply start trading from the very first day with Kotak Securities.
Kotak offers high-priority information, for traders and investors, which is buy and sell calls. As soon as you open Kotak Securities’ Website, under Research section, you will get name of scripts you should buy based on fundamental and technical analysis.
These script names don’t come alone. You will get deep insights on why you should go for particular scripts and what’s the news saying.
- A News Channel
Like any other stock market news channel, Kotak offers you all details relevant to stock world including live stock market scenario, top gainers and losers, overall view of economic growth, most active stocks, etc. With Kotak, you don’t need to look at other channels to gather your needed information on stock market.
- Personal Assistance
Kotak securities customer care Number – 1800 209 9191
Kotak Securities appoints Relationship Manager to all its clients, so that new users or old ones don’t stuck anywhere while trading.
If you are someone who wants personal assistance on whether to buy or sell the stocks, you can simply make a call to have it all clear. Or they also provide on-chat support to answer your queries. The only issue is they will answer, in either yes or no, during market hours. For in-depth details,you have to call after market hours.
If you are ready to pay Rs.20 per call, you can get as much details as you want.
Kotak has on-call and on-chat trade facilities for those who want to put the burden of executingtrading activities orders on others and, are ready to pay per call.
Note: All the above mentioned facilities are available with other full-service brokerage companies,you can check them out too, to evaluate the best one for yourself.
Should You Go for it?
It’s better to inquire for other brokerage services and their charges before rushing into Kotak Securities. If you compare Kotak Securities with other full-service brokerage houses, you will definitely consider it quite costly. Don’t forget to prioritize your trading needs and then think thoroughly on which company can be your best fit. Consider Zerodha – Leading Discount Broker who will give you Zero Delivery Brokerage and Rs 20 Flat brokerage per Executive Order for F&O Trading. Check your self – Zerodha Brokerage Calculator how much you can save in brokerage.
Also Read: Compare Brokerage Companies in India