Reviews of Stock Brokers
Kotak Securities
When it comes to investing in the stock market, choosing the right stockbroker is of utmost importance. It can significantly impact your trading experience, investment returns, and overall satisfaction. In this article, we will provide an in-depth review of Kotak Securities, one of India's prominent Full Service Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.
Overview
Kotak Securities founded in 1994 by Uday Raj Kotak is a Public company headquartered in Mumbai, India India. As a Full Service Broker, Kotak Securities aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Kotak Securities operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.
| Overview | Kotak Securities |
|---|---|
| Broker Type | Full Service Broker |
| Type of company | Public |
| Headquarter | Mumbai, India |
| Founders | Uday Raj Kotak |
| Foundation Year | 1994 |
| Supported Exchanges | BSE, NSE, MCX, NCDEX |
| Total branches | 1209 |
Kotak Securities Account opening charges
To begin trading with Kotak Securities, you need to open a trading account and a Demat account. Kotak Securities charges Zero for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Free or Rs.300 per Annum for the Demat account. However, it's worth mentioning that trading AMC is free.
| Account Opening and Demat Charges | Kotak Securities |
|---|---|
| Trading Account Opening Charges | Zero |
| Demat AMC (Annual Maintenance Charges) | Free or Rs.300 per Annum |
| Trading AMC (Annual Maintenance Charges) | Rs.500 per Annum |
| Margin Money | Minimum Rs.25,000 |
| Offline to Online Charges | Not applicable |
| Depository | NSDL & CDSL |
Kotak Securities Brokerage Charges
One of the main factors to consider when choosing a stockbroker is the brokerage charges. Kotak Securities brokerage charges for various segments are as follows:
- Equity delivery: Kotak Securities offers free brokerage for equity delivery trades. This means you can buy and hold stocks without incurring any brokerage charges.
- Equity intraday: For equity intraday trades, Kotak Securities charges a flat rate of 0.49% per order.
- Equity futures: The brokerage charge for equity futures is also 0.49% per order.
- Equity options: Kotak Securities charges Rs.100 per Lot per order for equity options trading.
- Currency: For currency futures and options trading, Kotak Securities charges 0.049% per order.
- Commodity: The brokerage charge for commodity trading is NA per order.
Equity Brokerage Charges
| Equity Brokerage Charges | Kotak Securities |
|---|---|
| Equity Delivery Brokerage | 0.49% |
| Equity Intraday Brokerage | 0.49% |
| Equity Futures Brokerage | 0.49% |
| Equity Options Brokerage | Rs.100 per Lot |
Currency Brokerage Charges
| Currency Brokerage Charges | Kotak Securities |
|---|---|
| Currency Futures Brokerage | 0.049% |
| Currency Options Brokerage | Rs.70 per Lot |
Commodity Brokerage Charges
| Commodity Brokerage Charges | Kotak Securities |
|---|---|
| Commodity Options Brokerage | NA |
Kotak Securities Other Charges
In addition to brokerage charges, there are other charges to consider:
- Minimum brokerage charges: Kotak Securities imposes a minimum brokerage charge of Rs.21 per Trade.
- Transaction brokerage charges: A customer incurs transaction brokerage charges, which amount to 0.00320% of Total Turnover of the total turnover.
- SEBI turnover charges: Securities and Exchange Board of India (SEBI) levies turnover charges, which are 0.0002% of Total Turnover.
- Stamp duty charges: Stamp duty charges differ based on the state and the specific category of asset.
- GST charges: A GST of 18% of (Brokerage + Transaction Charges) is applied to brokerage and transaction charges.
- STT (Securities transaction tax): Kotak Securities charges 0.0126% of Total Turnover of the total turnover as STT.
- Call and trade charges: If you place orders through call and trade, Kotak Securities charges Rs 20 per call after first 20 free calls in a month.
| Other Brokerage Charges | Kotak Securities |
|---|---|
| Minimum Brokerage Charges | Rs.21 per Trade | Transaction Brokerage Charges | 0.00320% of Total Turnover | SEBI Turnover Charges | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | Call and Trade Charges | Rs 20 per call after first 20 free calls in a month |
Kotak Securities Equity Leverage
Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Kotak Securities:
| Equity Leverage | Kotak Securities |
|---|---|
| Equity Delivery | Upto 10x | Equity Intraday | Upto 20x | Equity Futures | Upto 10x | Equity Options | Upto 20x |
Kotak Securities Currency Leverage
| Currency Leverage | Kotak Securities |
|---|---|
| Currency Futures | Upto 10x | Currency Options | Upto 15x |
Kotak Securities Commodity Leverage
| Equity Leverage | Kotak Securities |
|---|---|
| Commodity | Upto 10x |
Kotak Securities Offers
Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:
| Offers | Kotak Securities |
|---|---|
| Free Stock Trading Account | No | Free Demat Account | Yes | Flexible Plans | Yes | Brokerage Discounts | No | Happy Hours | Yes | 1 Month Free Plan | No | Holiday Offers | No | Referral Program | No | Zero Brokerage on Loss Trades | Yes |
Kotak Securities Features
- Discount Broker:
Kotak Securities is a leading online stock broker in India that offers discount brokerage services to retail investors. It charges a flat rate of Rs.21 per Trade per order executed, regardless of the trade size, segment, or exchange.
- Range of Investment Products:
Kotak Securities is a one-stop shop for various financial investment products. It allows investors to trade in equity, commodity, and currency at BSE, NSE, and MCX. Additionally, it offers investment options in mutual funds, gold, peer-to-peer lending, insurance, and US investments.
- Subscription Plans:
Kotak Securities provides three subscription plans: Basic pack, power investor pack, and ultra trader pack. These plans offer different benefits, including reduced brokerage fees, free trades, research advisory, and dedicated customer support.
- Research and Advisory Services:
Kotak Securities stands out by offering exhaustive research and advisory services. It provides short-term and long-term investment ideas, derivative strategies, and portfolio-based investment ideas. The platform also offers a portfolio analyzer tool to analyze the performance of your investments.
- Margin Funding:
Kotak Securities provides margin funding services. These enable you to make partial payments for your purchases in the cash segment. The balance is funded by Kotak Securities at a nominal rate.
- Mobile Trading App and Trading Platforms:
Kotak Securities provides a user-friendly mobile trading app, a web-based trading website, and an installable trading terminal. These platforms are built on the latest technology and offer seamless trading experiences. The mobile app allows trading, robo-advisory, and access to various investment options.
- Demat Account Services:
Kotak Securities offers demat account services through its membership with CDSL. It has been recognized as a premier depository participant by CDSL.
- Low Charges:
Kotak Securities is known for its lowest charges in the industry. It charges a flat fee of 0.49% per order executed, and the platform also offers value-add packs for additional benefits. Additionally, 5Paisa provides free account opening and brokerage-free mutual funds.
- Algo Trading and Robo Advisory:
Kotak Securities provides algo trading services and robo-advisory to its customers. These services help automate trading strategies and offer personalized investment advice based on risk profiles and return expectations.
- Customer Support:
Kotak Securities offers dedicated customer support for its subscribers. The power investor pack and ultra trader pack include free customer support services.
| Features | Kotak Securities |
|---|---|
| Equity Delivery Trading | Yes | Equity Intraday Trading | Yes | Equity Futures Trading | Yes | Equity Options Trading | Yes | Currency Trading | Yes |
| Commodity Trading | No | IPO (Initial public offering) | Yes | Stocks Suggestions | No | Robo Advisory | No | PMS (Portfolio Management Services) | Yes |
| Trading Institution | No | Trading Exposure | Upto 12x | Mutual Funds | Yes | SIP (Systematic Investment Plan) | Yes | Forex Trading | No | Banking | Yes | Insurance | Yes |
Kotak Securities Advisory Services
The key distinction between a discount broker and a full-service broker lies in the range of services offered and the rates at which they are provided.
| Services | Kotak Securities |
|---|---|
| Fundamental Reports | Yes |
| Research Reports | Yes |
| Company Reports | Yes |
| Annual Reports | Yes |
| Company Stock Review | No |
| Free Stock Tips | Yes |
| IPO Reports | Yes |
| Top Picks | No |
| Daily Market Review | Yes |
| Monthly Reports | Yes |
| Weekly reports | Yes |
| Offline Advisory | Yes |
| Relationship Manager | Yes |
Kotak Securities Trading Platforms
The Kotak Securities trading software comprises various trading platforms suitable for the diverse needs of the customers. It is built on IIFL's trading platform. It has been trusted by customers for the past two decades. The trading platform is available in three different forms. Namely: a mobile app, a web browser-based platform, and an installable desktop trading application.
Kotak Securities Trading Platforms
| Desktop Trading Platforms | Kotak Securities |
|---|---|
| Windows | Yes |
| Mac | Yes |
| Desktop Browser | Yes |
Kotak Securities Mobile App
The Kotak Securities mobile app allows users to trade on the go and provides access to trading at BSE/NSE and robo advisory services. Customers can download the app for free from either the google app store or the apple app Store. The app is designed to be simple and intuitive, enabling users to buy stocks, trade in stock and currency futures & options, and invest in mutual funds, ETFs, bonds, and more.
| Mobile App | Kotak Securities |
|---|---|
| Mobile Browser | Yes |
| Android App | Yes |
| iOS App | Yes |
| Windows App | No |
| Other mobile os | No |
Kotak Securities Web Trading
For web-based trading, Kotak Securities offers a powerful trading website known as Kotak Securities trader station. This website can be accessed through any web browser on computers, laptops, mobile devices, or tablets. It provides a wide range of trading and investment options within a single domain. The web platform is seamlessly integrated with payment gateways and banks, enabling instant fund transfers.
Kotak Securities Trade Terminal
Kotak Securities offers a trade terminal, which is a downloadable trading terminal specifically developed for active traders seeking advanced trading features. This desktop application offers real-time data and advanced charts for monitoring intraday and historic stock prices. It also offers a variety of keyboard shortcuts to facilitate real-time market monitoring and faster order placement.
Kotak Securities Customer Support
- Relationship manager: Yes, Kotak Securities does offer a dedicated relationship manager for customers. However, they provide other channels for support.
- Offline trading support: Yes, Kotak Securities does offer offline trading support. All trading activities are conducted online.
- Online trading support: Kotak Securities provides online trading support to customers. Their trading platform is accessible via mobile app, web browser, and desktop application, allowing customers to trade conveniently.
- 24*7 support: Kotak Securities offers round-the-clock support to customers. This means you can reach out to their customer support team at any time, even outside regular business hours.
- Email support: Customers can contact Kotak Securities’s customer support team via email for assistance. They provide an email address where customers can send their queries and concerns.
- Chat support: Kotak Securities does not currently offer chat support as a customer service channel. However, customers can reach out through other available channels.
- Toll-free number: Kotak Securities does not provide a toll-free number for customer support. However, they may have a regular helpline number that customers can use to seek assistance.
- Support branches: Yes, Kotak Securities has physical support branches where customers can visit for assistance. In addition, customer support is also provided through remote channels.
| Customer Support | Kotak Securities |
|---|---|
| Relationship Manager | Yes |
| Offline Trading | Yes |
| Online Trading | Yes |
| 24 * 7 Support | Yes |
| Email Support | Yes |
| Chat Support | No |
| Toll free number | No |
| Support Branches | 160 |
Kotak Securities Complaints
Understanding the number of customer complaints received by a brokerage firm can provide insights into the quality and reliability of their services. The following table shows the information regarding the complaints received by Kotak Securities.
| BSE Complaints | Kotak Securities |
|---|---|
| BSE Complaints | 185 |
| BSE Resolved Complaints | 182 |
| Percentage of resolved BSE complaints | 98.38 % |
| NSE Complaints | 226 |
| NSE Resolved Complaints | 214 |
| Percentage of resolved NSE complaints | 94.69 % |
| BSE/NSE Complaint vs. Resolved Percentage | 96.53 % |
Conclusion
In conclusion, Kotak Securities offers a range of trading and investment options through its user-friendly platforms. With competitive pricing and several investment choices, it is one of the best options for investors. However, the lack of comprehensive customer support and the number of customer complaints are areas of concern. Considering all the features and user experience, Kotak Securities can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.