Kotak Securities feedback and review

they have no interest in your positions/profits , just trying to get brokerages targets..........

Do their RMs have good knowledge about the market or are they even trained?
I think they are trained only to call customers and ask them to buy and sell and are given hefty salaries and tall targets.

So what are you waiting for? Get out from there

Hello all,

I recently started trading a month back. I am totally new to this field and i was inspired by a friend who trades a lot.
I opened my account with Kotak after promises of low brokarage charges and started investing and trading. But this happiness was short lived when i came to know that i am being charged high brokarage charges i.e double the committed ones.
I escalated it to Kotak and they started blame game on sales people etc. Then finally i was asked to deposit 1 lac into my trading account to get the charges lowered which they finally did. Thanks to Kotak for this.

Meanwhile i was playing in cash market and only through the Relationship Manager of kotak RM or something they call. She keeps calling me throughout the day and suggesting me the shares, buying and selling from my account on my behalf.

Soon in one week i started facing some profit and big losses. The worst struck me when unknowlingly my 1 lac rs that was deposited to lower the brokarage was also utilised for trading into options.

The RM used to call me and say that the Kotak expert analysts have given a call of buying DLF , CE option. As soon as i bought after few hours she used to call back and say " I dont feel this will go up, lets exit and take new positions" Then they buy new positions and the same story as above. " Sir markets are falling, what can we do" . I have a questions "If your so called financial share market analysts cannot predict correctly and each and every call is a loss, what do we call them? Idiots?? "

Same they asked me to buy call option 5800 NIFTY, DLF 260, DLF 270, Tata Steel, NIFTY put 5400, BHEL 190 , SBIN 2200 , Bank nifty all with 25april dead line.

All these went into losses and now i stand with around 45k of losses due to mismanagement of Kotak and giving totally wrong tips. I think they just ask to trade huge amounts so that their targets of brokarage are met.

I seriously stand bruised and axed down new enterant in the trading field. I really dont know how i can come out of this losses now.

Do you guys suggest that i should stop the PMS of kotak and start trading on my own slowly and steadily?

Also can someone guide me how to get out of these positions and how to get onto new positions to cover these losses?

I have started reading this forum and started getting good knowledge from all the experts here. I know it will take time, but somehow i need to cover this losses.

Dear Amit,
Move out as early as possible, they have the worst inexperienced staff i have ever seen.
I have faced the same problems like you and lost around 3L. They don't know any thing about technical or fundamental analysis, they are just interested in your brokerage and hidden charges.
You cant make money in stock market with tips or advice its all BULL ****, you have to have knowledge of stock market and technicals and then trade.

Well like i said in my opening post. I want to somehow recover the losses.
What do you suggest?

http://www.mudraa.com/trading/98829/0/should-i-continue-to-trade-nitin-potade.html

Option Trades:

Basically used for hedging purpose. I do not welcome options unless otherwise I am 100% sure. Always trade with Stop Loss as designed by the call giver. Most dangerous and if allowed to take over human instincts, is like a poison that does not let you know when you are finished. Please do this trade only with professional advice or with proper research.

Open an account with some other brokers that have per order brokerage that is very reasonable. I have my account with Zerodha. You can search the forum for other discount brokers also.