Kotak Securities Review | Brokerage Charges, Account Opening
Kotak Securities Track Record Of Best Online Stock Broker In India
Kotak Securities Review
The Kotak Securities Limited was a subsidiary of Mahindra Bank that was founded in the year 1994. They provide various stock broking service and distributes various financial products in India. The company is famous for its out of the box ideas over the past years. In other words, they are well-known and well-respected full-service brokerage firm. The company is listed in BSE and NSE is also a depository participant with NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).
Kotak Securities is a brokerage firm that offers its services across all the financial trading asset classes. It was initially incorporated in Mumbai, Maharashtra. It serves the traders and investors from all nation. The company has earned over 13 lakh active accounts in the present that are managed by the giant and great network of more than 1200 branches that are spread across 177 cities in India.
It was the first stock broker in India that introduced various mobile stock trading app that will easily keep the record and track all the investments of an individual on the go. The firm also introduced the concept of SMS alerts right before the execution of depository transaction.
The Unique Selling Point of Kotak is that it has a Trinity Account. It is a unique account that makes it possible for the investors to open a demat, trading + bank account with the Kotak Mahindra Bank Limited. An individual can also open the individual accounts independently or at the same time within the boundaries of it with a single application. The client does not require to transfer money online to the trading account from the bank account. It has a user-friendly interface and the funds in the same gets credited automatically.
After opening an account an individual can easily trade in Equity, Apply for an IPO, Mutual Fund, ETF, Tax-Free bonds, Currency Derivatives, Gold ETF etc. Its framework also includes opening an account, name change request form, Kotak securities account closing form as per their requirement and then submit it to the registered office.
Account Types by Kotak Securities
It offers different account types according to users as per their requirement:
1. Auto Invest- This account requires a minimum balance of ₹5000 to make investments in Gold ETFs, Equities, and Mutual Funds to their customers.
2. Kotak Gateway- It is very similar to Kotak 101 guide to stock trading for the beginners that simply opens a gateway to the trading and investment world across the globe.
3. Kotak Privilege Circle- It is the premium investment account of Kotak Securities. This also provides an independent market expertise that provide support by a dedicated Relationship Manager and a customer service desk. An individual can make investment with any amount more than ₹10 lakhs as the margin by cash or stock.
4. Kotak Freedom- It is made for the mutual fund investments.
5. Kotak Super Saver- This may consist of flat brokerage and a low margin amount.
6. Portfolio Management Service (PMS)- This account is specially made for the beginners that needs a professional help to analyse and can have a look at their investments.
7. NRI Account- It is an online trading investment account for the NRI Investors.
8. Trinity Account- It is an integrated account that helps and guides the investors so that they can reap the benefits of online trading account, bank account and demat account on a single platform for various securities transaction.
Here are the services that acts as an asset to Kotak Securities without which having a trinity account would not have existed. It offers a range of web trading software to its customers. It includes various products that are:
1. KEAT Pro X (Desktop Trading Terminal).
2. Kotak Securities website and Wave (Web-based Trading Platform).
3. Kotak Stock Trader (Mobile Trading App)
1. Winners of Gold Award presented to them at ACEF for Email Marketing and the successful usage of technology.
2. “Early Adopter of Analytics” at Machine learning conference 2018.
3. Best brokerage in India 2018 by triple A Asset company Awards in the Best Advisory South Asia Category and much more.
Advantages of Kotak Securities
1. It facilitates its customers with the 3 in 1 demat account that helps in fluent transfer of funds within the accounts.
2. Most of the investment areas can easily be found on the same platform.
3. It has a special provision for the traders having bad or slow internet connection.
4. It has excellent trading platforms.
5. It provides excellent customer service and support by an online chat facility.
Disadvantages of Kotak Securities
1. No support for the commodity segment is available.
2. It charges high brokerage as compared to the other full-service brokers.
Frequently Asked Question
Yes, Kotak Securities offer online IPO applications to its customers. IPO offers an early opportunity to buy shares of companies that are not previously traded publicly.
Each scheme has a minimum transaction amount. The amount differs from scheme to scheme. The minimum amount is mentioned for each scheme in the scheme information document.
Kotak Securities charge 0.049% (on both side) for equity, currency and commodity futures trading.
Yes, modifications can be done on the online portal and the final amount payable will be blocked by the bank subsequently.
Kotak Securities is a Full-Service Broker and thus the brokerage charged by them is higher than the discount brokers.
Yes, Kotak securities allows to place three orders at different rates.
Kotak Securities charge 0.49% for equity delivery trade. These trades are known as cash and carry trades or CNC.
The customer can apply in an IPO at any time between the IPO open and close date. The online IPO application can be filled and submitted at any time of the day.
A customer can apply up to five application allowed to the Kotak Mahindra Bank Account.
The amount blocked in your bank account supporting the ASBA application cannot be withdrawn till the time of allotment.
There is no charge for opening the demat account with Kotak Securities broker. In fact, there is no amount charged for opening any of the three accounts i.e. Demat, Trading and Bank account.
As per the new process if an individual sells their holdings then they must be sold in the following sequence. First stock you hold as BNST will be sold. Second stocks you hold in the demat account and third stocks you own under Margin finance will be sold.
No, Kotak securities website allows IPO application only to the Trinity account holders.
Yes, the customers can check the Kotak Mutual Fund status online. To check the status of your Mutual Fund investments are: 1. Login to Kotak Securities Account. 2. Click on reports. 3. Visit the mutual fund section. 4. Select Check order status.
Kotak Securities is a Limited firm and is a member of BSE, NSE, MSE, MCX, NCDEX. It is also registered as a depository participant with NSDL and CDSL.
Realized profit is the profit that comes from a completed trade. It means that the trade that has been exited. The realized profit is usually already deposited into the trader’s trading account and can simply be withdrawn from their trading account to bank account.
It charges 0.049% for Intra-day trades. These orders are known as Margin Intraday square-up or the MIS orders. All the open Intraday orders are auto squared-off at the end of each day. Extra leverage can be offered for these trades.
A ledger balance is computed by the bank at the end of each business day. It includes all the withdrawals and deposits to calculate the total amount of money in a bank account. The ledger balance is the opening balance in the bank account next morning and remains all day.
The Kotak Securities mobile application supports iOS, Android, Blackberry, Windows Java Operating Systems.
No, Kotak securities does not provide margin funding.