About Kotak securties

[gold_ranjit]

Hi all,

I have read this article recently and found our there is too much confusion in the minds of people as some says good some says bad trading machines

dear friends....I did a study of different services provided by different brokers and used couple of them and checked the trading systems by visiting my friends who are using different versions...well its my personel opniun so please ignore this if you are not convinced...I when started trading first I wasted too much time in pondering and switched from one broker to the other..But I was looking was speed when speed matched brokerage didn't matched where brokerage matched speed was not good...so after looking here and there I couldn't find everything in one basket so decided what i need the most. As by paying less brokerage I was loosing on speed so was my trades so I decided to give it a try by going for a system which could give me speed as my trade profits where going down so had a long discussion with my fellow people and I opted for Geojit and my friend opted for Angel trade and other one opted for Indiabulls and one long distance friend went for 5 paisa as here is the finding:

Geojit : speed is good order doesn't stuck and customer support is very good action is prompt at peeK hours there system works good. I pay a standered brokage 0.03 intraday and delivery 0.30 flat it depends upon what trade you do so you can negotiate:

Angel trade: Same speed is good customer support is active and responsive but brokerage you have to negotiate my friend is average trader so pays 0.05 intraday and 0.40 paisa delivery

Indiabulls : again speed is good now they have recorded lines and if you have a problem on your order not going through you can call there dealers and excute orders again he is paying a brokerage of 0.03 intraday and 0.30 delivery as he is a full time trader no RM tension now.

5Paisa: My other friend he has recently signed up so still waiting for a response .

Share Khan : lot of information is available on traderji so it can give you knowledge regarding the same.

My friends you all must first look for what you need as We all are living in India and here nothing comes full in one basket so pros and cons are there everywhere so My need was speed as what is the use of paying less brokerage and loosing my trade profits due to low speeds so I opted for Geojit and my friend is happy with Angletrade and other one decided to stick with Indiabulls as all the three are good when it comes to speedy execution of orders and margins.

We all have to compromise atleast somewhere as here it takes time to get things done in right way Indian Stock Trading system is not very old its still young like approx 4 yrs old it will take time to imporve but we cant wait till that time we all have to carry on so somewhere we all have to compromise for the time being.

Wish you all the best

Regards,
Ranjit

 

[prashkr]

Hi Agilent,
Only Problem with Keat is u have to punch in password many times unnecessaryly which another boarder has mentioned. It slows down ur execution speed. It has a great advantage of setting alerts to a Visual method & sound file which i have not found on any other software as yet.

Prash

 

[CreditViolet]

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.

hi systemtrader

How is the KEATlite platform? Is it exe based & similar to the premium platform? How is the order execution and tick updation?

Thanks for any pointers


CV

 

[bangerabs]

I do not have any experience with Kotak Securities. But, I think Rs.9/- per trade is not all a low brokerage. For, IB allows on percentage basis which at times comes to hardly any. Some times, the traded qty. may be minimum. Then, why one should pay Rs.9/-?. So, brokerage on percentage basis, without any volume commitment seems to be beneficial. Moreover, AGILENT has recommended to rename the site" most customer unfriendly site". Thanks a lot to him. I endorse his views, for I have experience with Kotak Housing loan. Yes, service culture with Kotak is a distant dream. No one should expect any customer service from them.

With regard to Sharekah, I hv over 5 years experience with them. They are better. Unfortunately, their brokerage is higher. I have account with them still; yet I am also with IB as brokerage matters a lot. I have been incurring loss year after year, but with the reduced brokerage by IB, now I hv been able to gain. I hv been requesting Sharekhan to reduce the brokerage but are not willing. Hence, as of now, I find IB is ok though their system is too complicated; unlike most transparent SSKI.

 

[systemtrader]

In KEATlite they have a restriction of 25 scrips that you can add to your watchlist and you can open only 1 watchlist. This includes NSE/BSE and NSE derivatives. In premium they allow multiple watchlists to be opened and a larger number of scrips per watchlist. There are no charting facility in KEATlite and premium has it (I use my own charting software). The derivative chain is available only on premium and you will have to know the exact strike price to get the rates for KEATlite.

For the last 3-4 months that I have been using KEATlite and it has had its own set of problems. Tick updations are pretty fast but order execution in the first 10 mins is slow (takes approx 30 secs....reason given was because of their After Market Orders). BSE rate updation is slow.

Their few products like Super Multiple (15 times multiple with autosquareoff) is available on the site but not on KEAT.

I guess every broker has their own advantages and disadvantages. The range of products in Kotak is very large as compared to the otherr 2 brokers that I also do business with.

 

[trader31339]

systemtrader,
Kotak Freeway where they charge only 999Rs per month does one has to pay brokerage other than this 999 or everything is included in this?
What I have come to know from my netpal is that they charge 999 per month + 0.03% brokerage.
Please tell me does one has to pay brokerage also other than 999?

 

[swapna81]

Hi,

Can anyone tell me how to do intraday trading in kotaksecurities.com??
I mailed the Customer Service but couldnt get proper reply.

thanks,
swpna.

 

[systemtrader]

Intraday trading can be done on kotaksecurities.com by just squaring up the position, that you have taken during the day, before the end of the day. They charge you brokerages that are intraday.In case you do not square up your position, it will be charged delivery brokerages. (Actually this is the same with most of the brokers leaving aside icici and now reliance where any position taken more than your cash margin will be squaredup by their system at 3 pm).

Checked out the freeway product and it is not at all free. You will be charged over and above the 999 that they charge. Typically for sq up it will be 0.03% and for delivery will be as per their slab. A better product than this will be their RS 2000/- product which is valid for 6 months and is fully reversible against the brokerages done under their flat product (i dont recall their product name)....typically my cost comes to 0.018% for sq up and derivatives and 0.18% for delivery.

 

[swapna81]

Systemtrader,

Thanks so much for giving such a detailed explanation.





___________
swapna.

 

[neo]

Hi guys,
I have been using kotaksecurities since last one year, and would not recommand it for any trader. The Fund transfer really sucks, I personally had faced many issues in fund transfer from bank to kotak account. These guys takes the transfered money in their account and then does not transfer it to your trading account. You would have to everytime talk to customer support for resolving money transfer issues.

The worst point of this brokerage firm is that you would have to keep money in the kotak account in order to tread, However some other firms are offering trading from bank account. So if you sqareoff your position at the end of the day, your fund would not be transfered.

I recently found that Geojit and Uti bank had some sort of aliance for Online treading and they are offering direct trading from your bank account.