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#1
20th December 2007, 02:56 PM
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Kotak Flat...need feedback
Is anybody using the Kotak Flat? The website says Rs.9 per trade for a monthly charge of Rs.500. And other option is Rs.20 per trade and no monthly charges for it.
I read the following from their website: ************************************************** ************************************************** *** Kotaksecurities.com offers you one of the most competitive brokerage rates in the market. We now introduce the international trend of charging brokerages on a per trade basis for the first time in India. Detailed below is the brokerage charges for both the variants of Kotak Flat. BROKERAGE STRUCTURE Kotak Flat Rs. 9 per trade Rs. 20 per trade Monthly Fees Rs. 499 Nil Max exposure against margin Rs. 9 Lakh Rs. 9 Lakh Delivery Rs. 9 Rs. 20 Cash Square up Rs. 9 Rs. 20 Futures Rs. 9 Rs. 20 Options Rs. 9 - Minimum Brokerage Rs. 50 Per Lot Rs. 20 - Minimum Brokerage Rs. 50 Per Lot The Flat brokerage rate is applicable for multiples of the order values mentioned below Transaction Type Order Value Delivery Rs. 5,000/- Cash Square up Rs. 50,000 Futures Rs. 50,000 Options Rs. 1000 * Brokerage charged would be double if the order is placed through Call N Trade Statutory charges as applicable will be charged For Example. If you place and intraday order of Rs. 100000 under the Kotak Flat Rs. 9 per trade plan then you would be charged Rs. 18 as brokerage. The orders placed by the risk management for liquidation of postions in the account would be charged twice the brokerage as applicable if order is placed through Call N Trade. Terms and Conditions * Only cash margin allowed * 4 times multiple against margin for Intraday * No BNSTG facility available * There is no credit given for delivery selling i.e If you sell stocks worth Rs. 25,000/- today then you will be able to buy against this Rs. 25,000 on T+3rd day * No exposure allowed against stock in your Demat account Note: Service Tax of 12.36% of brokerage will be charged in addition. Securities Transaction Tax (STT) @ 0.125% of turnover will be charged in addition to the brokerage on all delivery trades STT @ 0.025% of turnover will be charged in addition to the brokerage on sell leg of all non delivery trades in the cash market STT @ 0.017% of turnover will be charged in addition to the brokerage on sell leg of all non delivery trades in the derivative market --Service tax, STT and other statutory charges are as per current rate and any revision in the rate then same will be applicable" ************************************************** ************************************************** Please give your valuable suggestions.Do u guys recommend this or is it good to go with 0.2% delivery per trade? please give me your valuable inputs. PS this is my first post.Iam new to trading and am in the process of starting trading and in search of good brokerages. 
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