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Kotak Securities Free Unlimited Intraday Trading Plan (Rs 999 Plan)

Published on Wednesday, May 2, 2018 by

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Kotak Securities Free Unlimited Intraday Trading Plan (Rs 999 Plan)

Kotak Securities, a subsidiary of Kotak Mahindra Bank is among the top stock broker in India. The 3-in-1 trading account offered by Kotak Sec is among the most popular offering by the company.

The traditional brokers like Kotak Securities are being challenged by a new breed of discount stock brokers like Zerodha and ProStocks. These discount brokers are charging up to 90% lower brokerage and offering superior trading applications to the traders for no extra charges.

To keep the traders continue using its trading platform, Kotak Securities recently introduced a new brokerage plan. In this plan, Kotak offers unlimited equity intra-day trading for one flat Rs 999 per year fees.

Here are key facts about Kotak Securities Unlimited Trading Plan:

  1. The plan name is FIT (Free Intraday Trading). It is also known as Rs 999 Unlimited Trading Plan.
  2. The plan offers unlimited intraday equity trading in segments like Equity Cash and F&O for a yearly fee of Rs 999.
  3. Segments which are not included in this plan are Equity Delivery, Currency, and Commodity trading. Customers have to pay regular brokerage for trading in these segments. Note that Kotak Securities regular brokerage is very high in comparison to brokers like Zerodha or ProStocks.
  4. This price plan only available for online trading. Call & Trade or orders placed through dealers are not included in this plan. Regular brokerage is applicable to those orders.
  5. Customers will have to provide margins as per the agreement with Kotak Securities. Unlike most brokers, Kotak doesn’t provide high margins.
  6. This plan is available for a trader who uses Kotak Mobile Trading App, TradeSmart trading terminal, and Kotak sec website for trading. Customers using ODIN Diet cannot use this plan.
  7. If the intraday position is rolled-over in the next day, the trade gets converted into a delivery trade. In this case, Kotak Sec will charge regular brokerage. The customer may end up paying a very high brokerage in this scenario.

This plan is a step towards offering low-cost trading services to the price-sensitive trading community in India. Though the plan looks good in first sight, it will hardly make any difference for Kotak Sec. The migration from traditional brokers to the discount brokers will continue. The discount brokers are not just charging low brokerage, they are offering it across all segments, they have powerful and free trading platform, and providing excellent customer services.

Read more about Kotak Securities:

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