Hello TJ members,
Kotak Security recently launched a "Free Intraday Brokerage" plan. We need to pay 999rs per year and we wont be charged for intraday cash and equity derivatives ! So far it looks a good deal,
https://www.kotaksecurities.com/landing-page/freeintradaytrading/index.html
But there are many questions in my mind . I sent them a mail asking for below clarifications but got a template answer
Hope someone who has activated this plan or already have account with Kotak Security can answer these :
a) Do I need to have account in Kotak to open an account. Can we link other bank accounts ?
b) What about the MIS auto square off orders , When it will be squared off and will there be any costs to it ?
c) Do you provide pledging / margin facility and any charges for that ?
d) Can I link existing demat or new demat has to be opened with kotak ?
e) Is desktop and mobile software free of cost for FIT users ?
f) What about the fund pay-in and pay-out , any costs for that ?
g) Can we pledge Liquid / Arbitrage mutual funds and get margin ?
h) what are the typical margins required for NIFTY and BANKNIFTY for intraday short option or futures ?
i) Do you support Bracket order (BO) and Cover Order (CO) in your platform ?
Here is the attached FAQ i got from customer care. Still many questions unanswered ,, Guess need to call them up but I doubt if customer care executives know the answer for all
Kotak Security recently launched a "Free Intraday Brokerage" plan. We need to pay 999rs per year and we wont be charged for intraday cash and equity derivatives ! So far it looks a good deal,
https://www.kotaksecurities.com/landing-page/freeintradaytrading/index.html
But there are many questions in my mind . I sent them a mail asking for below clarifications but got a template answer
Hope someone who has activated this plan or already have account with Kotak Security can answer these :
a) Do I need to have account in Kotak to open an account. Can we link other bank accounts ?
b) What about the MIS auto square off orders , When it will be squared off and will there be any costs to it ?
c) Do you provide pledging / margin facility and any charges for that ?
d) Can I link existing demat or new demat has to be opened with kotak ?
e) Is desktop and mobile software free of cost for FIT users ?
f) What about the fund pay-in and pay-out , any costs for that ?
g) Can we pledge Liquid / Arbitrage mutual funds and get margin ?
h) what are the typical margins required for NIFTY and BANKNIFTY for intraday short option or futures ?
i) Do you support Bracket order (BO) and Cover Order (CO) in your platform ?
Here is the attached FAQ i got from customer care. Still many questions unanswered ,, Guess need to call them up but I doubt if customer care executives know the answer for all
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