Kotak Flat...need feedback

#1
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.
 
#2
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.
Don't trust this Kotak securities they are sharks