Kotak Securities Review 2024

Established in 1994, Kotak Securities brings over 25 years of expertise to the broking industry, serving more than 23 lakh customer accounts. With a widespread presence of 152 branches and 1500+ franchises across India, their core offerings include stockbroking and the distribution of various financial products such as mutual funds and insurance.

In addition to conventional services, Kotak Securities provides various value-added services:

– ETF & IPO Investments
– Mutual Fund Investments
– Tax-Free Bonds and NCDs
– Sovereign Gold Bonds and Gold ETFs
– Stock Basket Investing (New Service Offering)
– US Stock Investing (New Service Offering)
– Market Research & Stock Tips

Kotak Securities Brokerage Plans

  1. Kotak Securities – Trade Free Brokerage Plan

– Equity Intraday: Rs. 0
– Equity F&O (Intraday): Rs. 0
– Currency & Commodity (Intraday): Rs. 0
– F&O Trades (Carry Forward): Flat Rs. 20 per executed order
– Equity Delivery: 0.25% of the transaction value or Rs. 20 (whichever is higher)

This plan is advantageous for intraday traders conducting a large number of trades as it offers zero charges, allowing unlimited intraday trades without capping. However, users must complete both legs of trading online within market hours without dealer assistance. The plan grants access to research and stock-pick services.

  1. Kotak Securities – Dealer Assisted Brokerage Plan

– Equity Intraday: 0.039%
– Equity & Commodity Futures: 0.039%
– Equity & Commodity Options: Rs. 39 per lot
– Currency Futures: Rs. 9 per lot
– Currency Options: Rs. 5 per lot
– Equity Delivery: 0.39% of the transaction value

Tailored for beginner traders and professionals seeking advisory services, this plan includes a dedicated dealer for personalized discussions, strategic planning, and investment advice.

It’s noteworthy that Kotak Securities does not charge brokerage on stock delivery trades. For a detailed examination of free stock delivery Demat accounts, Zerodha can be considered, as they levy zero brokerage on delivery trades.

Kotak Securities Trading Platforms Overview

  1. Kotak Stock Trader App

Experience trading on the go with the Kotak Stock Trader App, offering a seamless “Tap and Trade” feature from any location, be it while traveling or enjoying your garden. The app provides real-time stock prices and live market updates. With a memory space requirement of 56 MB (iOS) / 24 MB (Android) and secure biometric login, users can utilize charting tools, create watchlists, and place orders based on recent search history.

  1. Kotak TradeSmart Terminal

Designed for savvy traders, the TradeSmart Terminal is a browser-based online platform featuring additional charged services:

– Trade Smart Derivatives
– Trade Smart Insights
– Trade Smart Trends

Users can create watchlists with over 65 data points for tracking stocks, 40+ data points for Futures, and more than 45 data points for Options. The terminal aids in identifying option trading opportunities by monitoring unusual call volume, open interest, gap up/down on high volume, and the highest Put/Call OI ratio.

  1. Web-based Trading Terminal

Ideal for newcomers to trading and investing, the web-based trading terminal offers a light version of the TradeSmart Terminal. With a simple and intuitive interface, it includes watchlists, auto price streaming, and single-click navigation for IPO and mutual fund investments.

  1. Keat ProX Trading Platform

Keat ProX is a downloadable .exe software that establishes a robust local trading environment on your PC (desktop), tablet, or laptop. It allows users to customize the interface according to their trading style, providing an integrated screen for watchlists, funds status, trading positions, and access to research reports and stock charting tools.

Kotak Trade APIs

For advanced traders seeking to implement personalized strategies, Kotak Trade APIs offer the flexibility to customize and develop their own trading algorithms.

What I Like

– No charges on intraday trading under the Trade Free plan
– Flat Rs. 20 on carry-forward F&O trades
– Option to open online demat, 2-in-1, and 3-in-1 accounts
– Access to value-added services like IPO, smallcase, and US stock investment

What Can Be Improved

On the Google Play store, there are reviews of the Kotak Trader App encountering login issues, system hangs, and average customer support. Kotak has recently updated its app to address login issues and bug fixes. Online reviews include grievances about other charges along with brokerage fees. The Kotak Securities team needs to address these concerns.

Kotak Securities Account Opening Charges

Trade Free Plan Charges

– Account Opening: Rs. 0 (Free now)

AMC charges

– Holding value of securities <= Rs. 10,000: Rs. 0
– Holding value of securities > Rs. 10,000:
– Rs. 65 pm (up to 10 debits)
– Rs. 50 pm (11-30 debit)
– Rs. 35 pm (30+ debit)

Dealer Assisted Plan Charges

– Account Opening: Rs. 499 (one time)

AMC charges

– Holding value of securities <= Rs. 10,000: Rs. 0
– Holding value of securities > Rs. 10,000:
– Rs. 65 pm (up to 10 debits)
– Rs. 50 pm (11-30 debit)
– Rs. 35 pm (30+ debit)

Kotak Securities Online Account Opening Process

Step 1 – Visit the Kotak Securities account opening page.

Step 2 – Enter your name, mobile number, email ID for verification. Also, fill in the city details.

Step 3 – Verify your mobile number and email ID with the OTP received.

Step 4 – Fill PAN number and date of birth as proof of identity.

Step 5 – Provide personal information like marital status, annual income, and trading experience.

Step 6 – Fill in your bank account details as shown below.

Step 7 – For address verification, you have three options:

– Option 1 – If you have a copy of the address proof stored in Digi Locker, log in to your Digi locker account and verify your address.

– Option 2 – If you don’t have a Digi locker account, you can use Aadhar as an address proof. Click the “Aadhar Offline KYC” link, log in to UIDAI using Aadhar OTP, download the zip file containing the Aadhar details, and upload the zip file.

– Option 3 – Choose the “Request physical assistance for account opening” method. Your application will be forwarded to an RM who will conduct an address verification process.

Step 8 – Upload your PAN and signature once your online address verification is complete.

Finally, review the account opening application before submission to Kotak Securities Limited.

The whole online process takes 20 – 25 minutes of time.

Before completing the application, I received a call from the Kotak Securities support team for briefing and assistance during the account opening process.

Once done, the Kotak Securities personnel go through the application.

If everything is complete, your login-ID and password are created and communicated to you over your email-ID. This may take another 20 minutes of time.

Overall, the new online account opening process can be completed hassle-free within 40 to 50 minutes of time.

Final thoughts

Kotak Securities provides a viable option catering to the financial needs of both Intraday traders and long-term investors.

For cost-conscious frequent intraday traders engaged in numerous trades, the option of Rs. 0 intraday charges presents an opportunity to save on trading costs.

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