About Kotak securties

#1
I have just opened the account with kotak and I can assure that they are no where near to provide a flat brokerage.
My account was opened on 27 August and they charged the flat rate of 499 for both August and Septmeber on 1 September.
Also buying share throgh there site is very difficult and they provode some concept of margin even when u have taken the delivery of share which is also very difficult to understand.
Also the User interface is really difficult to understand.
I was trading with ICICI before this and I think I will have to go back to that only again and there is no comparision between the two even though the brokerage is higher on ICICI side but now as they have slashed the brokerage in F&O and margin trading it is okay.
So please before opening the account make sure to discuss all these point and for someone who has done the trading in ICICI it is not easy to understand the kotak way of trading.

I have decided to cancel my account after my this month subscription gets over.

Hope this help other who are thinking of opening new account with them.
 
#2
I have just opened the account with kotak and I can assure that they are no where near to provide a flat brokerage.
My account was opened on 27 August and they charged the flat rate of 499 for both August and Septmeber on 1 September.

Also buying share through their site is very difficult and they provide some concept of margin even when u have taken the delivery of share which is also very difficult to understand.

Also the User interface is really difficult to understand.

I was trading with ICICI before this and I think I will have to go back to that only again and there is no comparision between the two even though the brokerage is higher on ICICI side but now as they have slashed the brokerage in F&O and margin trading it is okay.

So please before opening the account make sure to discuss all these point and for someone who has done the trading in ICICI it is not easy to understand the kotak way of trading.

I have decided to cancel my account after my this month subscription gets over.

Hope this help other who are thinking of opening new account with them.

I agree with u ... I too stopped using them long ago

But I was told by them ( when I went to close my acct) they have revamped their site and made it more user friendly

I had a few deals 2 yrs ago, and found the site worthy being nominated as the most customer unfriendly site in the world (e.g. enter two different passwords b4 u can trade)

Such inventions arise when developers start thinking like co officials (back office) instead of like potential customers

Will our IT savvy members give their views pl ?

AGILENT
 
#3
You need to be expert in using the kotaksecurities site, Even after revamp, it is not upto the mark of ICICI Direct. Interface for kotak buying/selling is horrible.

If you calculate brokerage for small trades, their kotak brokerage is higher than ICICI direct for delivery based trade.
For 10000 Rs trade, kotak brokerage comes to 59 + 23 (for demat) = 81, which is expensive than 75 of ICICI direct (where demat charges included in brokerage)
 
#4
You need to be expert in using the kotaksecurities site, Even after revamp, it is not upto the mark of ICICI Direct. Interface for kotak buying/selling is horrible.

If you calculate brokerage for small trades, their kotak brokerage is higher than ICICI direct for delivery based trade.
For 10000 Rs trade, kotak brokerage comes to 59 + 23 (for demat) = 81, which is expensive than 75 of ICICI direct (where demat charges included in brokerage)
But excuse me , is it not the same Kotak who are advertising Rs 9 flat brokerage

whats the catch ?

AGILENT:confused: :confused:
 
#5
The Kotak 9 product is useful with their new product that they have introduced a fortnight back. In the new product they charge Rs 2000/- upfront for a period of 4 months and this is completely reversed against any brokerage that you give during these 4 months.

With this effectively my rate with them comes down to approx 0.018% for intraday and 0.18% for delivery (if you convert the Rs 9 for RS 5000/- delivery trade). Statutory charges are extra.

I use their interface KEATlite which is quite friendly as I trade regularly in futures & options.
 
#6
Shifting to ICICI direct is not a worthy idea. I tried with this site (ICICI). It is better to opt for Sharekhan's speedtradeplus which I thought speed and reliable in all aspects. They have fulfilled my requests for transfer of funds to my bank accounts within few hours.
 
#7
Can you please let me know the brokerage they are charging for the F&O segment. I am mostly doing the trade in range of 1 Crore in a month.
What is the best can i expect from them ?
 
#8
I good thing about Kotak . You can place after market order in F&O and so hope to catch some freak trade which happens in the market at the start of the day.
This facility is not there with the ICICI.
 
#9
Hi All,
thanks for the views on kotak online trading it is really unfriendly. Checked out on the software a few days back. Checked up Sharekhan's speedtradeplus which is speedtrademinus, the updation is very pathetic bad when compared to ODIN Diet. If u r a serious trader its a big no. Also checked out Motilal oswal SW MY Broker, which i found the best.
Hope to get ur views on this

Prash
 
#10
The Kotak 9 product is useful with their new product that they have introduced a fortnight back. In the new product they charge Rs 2000/- upfront for a period of 4 months and this is completely reversed against any brokerage that you give during these 4 months.

With this effectively my rate with them comes down to approx 0.018% for intraday and 0.18% for delivery (if you convert the Rs 9 for RS 5000/- delivery trade). Statutory charges are extra.

I use their interface KEATlite which is quite friendly as I trade regularly in futures & options.
prashkr Hi All,
thanks for the views on kotak online trading it is really unfriendly. Checked out on the software a few days back. Checked up Sharekhan's speedtradeplus which is speedtrademinus, the updation is very pathetic bad when compared to ODIN Diet. If u r a serious trader its a big no. Also checked out Motilal oswal SW MY Broker, which i found the best.
Hope to get ur views on this

Prash


Guys ... I am confused ... one person says great , the other one says lousy !

What is the truth .
( or r they talking abt different things ??)

AGILENT