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 Kotak Securities Customer Reviews, Complaints, Experiences & True Feedback

Kotak Securities Ltd

Incorporated in 1994, Kotak Securities is a full services broker part of popular India based Kotak Mahindra Bank. The bank has over 1400 branches across India servicing more than 8 lakh customers. Kotak Securities Limited is among the largest trad... Know more about Kotak Securities Ltd

Stock Broker Review Ratings

Overall Rating Fees Brokerage Usability Customer Service 61 votes
Rated 3.1 stars Rated 2.9 stars Rated 3.0 stars Rated 3.3 stars Rated 3.3 stars Rate
              

118. Subhash  Jul 2, 2014 12:11:01 PM IST |  Reply 

I am a new customer of Kotak securities and its very bad to me so i open a a/c with it they take almost 1 month to open it and after that they only open
demat a/c but i told them for 3 in 1 its ok but i told them for online and they open it as offline and i am still waiting for change offline to online i called many they transfers my call round and round no one is try to help first they will said it will we convert with 2 days and your kit coming from Mumbai so please wait, I am till waiting for that, I must be close it after few days ..very bad experience

117. saimahesh  Jun 25, 2014 5:05:33 PM IST |  Reply 

Don''t go for kotak, before opening account they will say one brokerage value after traded starting they will charge max brokerage value. i have experienced for 1month and now i m going to close account.
overall 1/5

117.1. balu  Jul 5, 2014 6:45:24 PM IST | 

Same problem in my case also, for opening 3 in 1 a/c they told 5000. But I have given all documents and I signed in all doc''s . Finally when I given cheque they asked me give cheque 20000, i asked y ? For opening a/c you have give 20000 in that time only we will open a/c. I surprised by this word''s becaI m working in union bank of india, central office , mumbai and I m doing trading from past 3 years with sbicapsec.
finally I told, even international banks also not taking this much money for opening a/c. I don''t want ur banks a/c.

116. Karthik Kumar PJ  May 17, 2014 9:41:43 PM IST |  Reply 

Criteria Rating

1.AMC is high compared to other brokers 1/5
2.Customer service is very competent and professional 5/5
3.Minimum 21.40 per trade if it is below 10,000,
so it you trade 1000 5 times with different scrips, its 107/-
almost 1% brokerage, very poor 0/5
4.Brokerage value is good 0.3 for delivery,
0.03 for intraday/Futures 4/5
5.Excellent software and mobile app 5/5
6.You always have to maintain 1000/- balance in t
rading a/c with no interest 0/5

Overall 2.5/5

116.1. kotak securities  May 19, 2014 12:59:40 PM IST | 

Dear Mr.Kumar,

Thank you for your feedback.

Regards,
Team Kotak Securities

116.2. Harsh Vardhan Shrotriya  Jul 15, 2014 1:32:08 PM IST | 

Why forget the fact that APART from brokerage on Sell, for each sale of script you also need to pay 0.04% or around Rs 30 minimum? Try trading with these numbers...:-) So, basically every time you sell you pay almost double the charges than others...

Existing Customer

115. Nithin  May 15, 2014 12:46:22 PM IST |  Reply 

1. Charges are very high , which i realised after trading.
2. The sales executive lie a lot - during opening of account they show a very low brokerage, but on trading I find that lot of hidden charges were not explained .
3. The sales executive are not fully trained .
4. Kotec securities is not profitable for intraday traders - we lose lot of money gained on brokerage. I will not recommend this to any one

115.1. kotak securities  May 15, 2014 6:21:54 PM IST | 

Hi Nithin,

We regret the inconvenience caused. We request you to share your client id & contact details with us at Email so our customer care executive can get in touch with you and address your concern at the earliest.

Regards,
Team Kotak Securities.

115.2. Harsh Vardhan Shrotriya  Jul 15, 2014 1:34:06 PM IST | 

I second what Nithin has said. Enough warnings on this page for Hidden Charges with Kotak Securities. Still I made the mistake. Anyone else having time and money to waste on these hidden charges is welcome to waste on them..

115.3. abhi  Sep 13, 2014 2:31:48 PM IST | 

thanks for saving me
me isi me account khulwane wla tha.....

114. sahil  May 11, 2014 2:32:01 PM IST |  Reply 

Don''t believe on kotak securities. Too much hidden charges

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Below Average
Customer Service - Excellent
Overall Experience - Below Average

113. Chandan Roy  Apr 10, 2014 12:27:27 AM IST |  Reply 

Most bogus broker I have experienced. Don''t believe the person and the brokerage norms of this Brokerage firm. They are promising some thing when to open the account after that they telling some new norms and criteria regarding the brokerage. For best brokerage system you can open an account in "Trade Smart Online", which is the best brokerage company I have experienced in India. After cheating from Kotak Security I have switched over to Trade smart online.

113.1. kotak securities  Apr 10, 2014 11:42:09 AM IST | 

Hi Chandan,

We regret the inconvenience caused. Please share your contact details at Email for our customer care team to get in touch with you soon.

Regards,
Team Kotak Securities.

112. Nitin  Apr 6, 2014 3:08:58 AM IST |  Reply 

My Account opening is in process, after reading all these reviews I am planning to close my account ASAP. Not even a single person has given good feed back.

111. Poonam  Apr 5, 2014 1:13:03 AM IST |  Reply 

I was new to trading. Planned to start a demat and trading account, while browsing found that kotak has a 3 in 1 trading account after which I applied online and got a call and executive visited to my place and explained that if I deposit 1 lakh rupee to open the account then my charge will be intraday .03 and future as .30 and a small amount in case of delivery charges. They even told that as I am new to this they will initially come n install the software and help to do trading. It was my biggest mistake to open an account with kotak as I have already lost thousands due to wrong promises and the brokerages are charged as they wish, even after my account has a balance of 1 lakh I got a mail stating that I have to pay 10,000 n odd immediately. When called the person who opened this account stating about the mail he asked me to ignore it and he is loud enough n telling that he explained the same to me n now I am lying. If immediate action is not taken I will close my account and go legally.

111.1. arul  Sep 11, 2014 12:04:07 PM IST | 

you can directly take legal action as they are doing the same for many persons, if once any one made them scare they will be change.
recommend you to take action quickly.

110. Jaimin Patel  Mar 26, 2014 2:24:56 PM IST |  Reply 

Dear sir,

I want to close my demat account i called sales executive for close the account he told me that closing charges will be 600Rs .Is this true or False.. Sales Executive has very rude behavior kindly please help me...

110.1. kotak securities  Mar 27, 2014 10:34:33 AM IST | 

Hi Jaimin,

We would like to understand the matter and address your concern. Kindly share your client ID & contact details at Email so we can get in touch.

Regards,
Team Kotak Securities

109. Harish bisht  Mar 5, 2014 5:02:13 PM IST |  Reply 

I have a very bad experience with kotak mahindra. bank as well as security both.
1) Brokerage charges are so high for small investors in intra day trading .i know company must be taking benefit of this in terms of money, but may be loosing customer definitely.
2) when i opened demat account with kotak security. their associates has not informed all necessary information.i just need kotak trading account.not saving account but they have opened kotak demat account linked with kotak saving account, in which it is mandatory to maintain a balance of min Rs.10000.what a sit.its a cheating. becaof poor information i have not maintained my saving account with required balance. so they have deducted total Rs. 5000 from my saving account. even though balance was going in negative no customer call from their end. and when i went to kotak bank and asked for the same.why money was deducted they do not have any answer for their mistake. why we are in kotak to make money or to loose money?

Please have a transparency in your system so customer will not be hurt.

Any way i will surrender my account ASAP.


Regards
Harish Bisht

109.1. kotak securities  Mar 6, 2014 10:19:28 AM IST | 

Hi Harish,

We regret the inconvenience caused. Request you to please share your client ID & contact details with us at Email for our customer service desk to get in touch with you and address your concerns at the earliest.

Regards,
Team Kotak Securities

108. sameer  Mar 1, 2014 1:15:35 PM IST |  Reply 

I have trading account with kotak securities for many years. The trading platform is good. But they 3000-180.9-21.7-3.6-75.75-133)ALSO FOR STOCKS WITH VALUE LESS THAN Rs.100 per share Brokerage rate becomes almost 2 times due to increase in quantity of shares. If these huge "OTHER CHARGES" are reduced your profit will be good.

108.1. kotak securities  Mar 3, 2014 11:33:30 AM IST | 

Hi Sameer,

Thanks for your feedback. We have shared your opinion with the concerned team. For any further assistance, please feel free to get in touch with us at Email.

Regards,
Team Kotak Securities

107. UMAR  Feb 26, 2014 7:57:21 PM IST |  Reply 

VERY BAD SERVICE
VERY POOR TRADING CALL
THEY JUST DO TRADING CALL TO GET INCENTIVES ONLY
I CLOSED MY A/C BCZ OF LOSS OF THERE TRADING CALL
AND I HAV TO TO CLOSE MY ACCOUNT BY LOSING MY 1000 RS PREPATID BROKERAGE AS WELL
REALY POOR
YOU CAN LOOSE MONEY WITHOUT TRAIDNG IN KOTAK

107.1. kotak securities  Feb 27, 2014 5:20:13 PM IST | 

Hi Umar,

We would like to understand the matter and address your concerns. Kindly share your contact details with us at Email so that our customer service team can get in touch with you.

Regards,
Team Kotak Securities

106. barkat  Feb 6, 2014 8:26:56 PM IST |  Reply 

brokerage charge is very high in compare with ventura sec. Pls do something .................................
If u r profit is 400 than brokerage charge is below
total amt is 32000 rs
brokerage charge per security is 97 stt 32 tax is 7 and other charge is 6 rs total is 142 so u r total profit is 258 rs. Its very high..

106.1. kotak securities  Feb 7, 2014 11:16:56 AM IST | 

Hi Barkat,

Request you to share your client ID and contact details with us at Email for our customer care executive to get in touch with you and address your concerns at the earliest.

Regards,
Team Kotak Securities

105. Ankit Jain  Feb 3, 2014 5:19:48 PM IST |  Reply 

Kotak securities has charged Rs 10 for sending contract note to my registered address as mails are bounce back from my mailbox and never communicate such problem to me.. Truly unfair.

104. Ashish Bhat  Jan 27, 2014 2:07:40 PM IST |  Reply 

Kotak securities is definitely better than ICICI sec, as far as website interface is concerned. They present your data succinctly and usefully.
Brokerage used to be good, but now they have increased their rates.

Ratings:

Brokerage - Average
Account Maintenance Fees - Average
Website Usability - Above Average
Customer Service - Below Average
Overall Experience - Average

103. K Agarwal  Jan 16, 2014 11:09:07 PM IST |  Reply 

All of sudden started to charge 21/- per transaction. It is too much for investor doing trasaction of small lot. If doing 10 transactions of 10 shares each then charges are 210/-. It is too much if transaction value is less than 5000/-.

102. Manju  Jan 4, 2014 10:29:13 AM IST |  Reply 

Hi Team,

I brought 166666 Shares for the price of 0.09 per share Total value of the shares is RS 15000 and they are charged more brokerage charges then my share which is not at all acceptable
(166666 * 0.04=6666.64)

102.1. Manju  Jan 4, 2014 10:34:42 AM IST | 

When RM came that time they said only on total value of the shares now they were says on Qty as well be care full with Kotak security. Really if you are decided to have trading account, please go for alternative

101. Vikash  Dec 29, 2013 8:40:51 AM IST |  Reply 

high brokerage, most of my profit goes out in brokerage ....going to move to some other broker

100. Pitchai Devarajan  Dec 27, 2013 9:13:35 AM IST |  Reply 

The Brokerage charges of Kotak Securities is very high. I have been with them for 8 years and I strubbled upon this website, and to my suprise I have been paying higher brokerage for my Option Trading. I seriously do not know how they are suviving.

100.1. Manju  Jan 4, 2014 10:36:59 AM IST | 

Yes I agree

99. KVR  Dec 18, 2013 7:19:44 AM IST |  Reply 

Kotak Demat does not work on mobile phone with windows OS. The brokerage charges are very high and many hidden charges. Kotak DEMAT a/c not advisable for small investors. they will eat into investors profits. The only merit with kotak is the trading platform is easy.

99.1. Sid  May 18, 2014 3:39:47 PM IST | 

I recently opened my account in Kotak Securities .My demat and trading account is not yet activated. was reading these reviews :

My relationship manager told to me that for corporate users , the brokerage value is low , like , Rs 0.20 per 100 Rs. Therefore If I''m buying shares worth of rupees 1000 total , then I have to pay (1000/100)*0.20 = 2 Rs as brokerage value.

After reading this comments tried to reach out to my relationship manager. If these comments are true , then it will be very bad for me.

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