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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 59 votes
Rated 3.2 stars Rated 2.9 stars Rated 3.1 stars Rated 3.4 stars Rated 3.4 stars Rate
              

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.

98. nk  Dec 13, 2013 12:14:50 PM IST |  Reply 

I wanted to open online trading.what are the records must be given?what are the brokerage charges?is it apply for one side or to side

97. Malik ullah  Dec 4, 2013 4:44:09 PM IST |  Reply 

I have opened demat account.. and i had been promised to get an offer of 1000 rs free share of any blue chip company.... i used to call kotak security team but every time they promised to give that offer ASAP..its been 2 months i have been following up..and there is no follow up from there side nor even they care to answer the queries..

i have a very bad experience and i am going to close it ASAP...

96. A Gupta  Nov 20, 2013 5:44:12 PM IST |  Reply 

I have been offered a "Advance Plan", which offers to refund full brokerage along with Service Tax. The plans are for Rs.7500, Rs.10,000, Rs.25,000, Rs.50,000, And Rs.1,00,000 Valid for one year. Suppose I chose a plan of Rs.7500 for 12 months and generate a brokerage of Rs.6000 then fee of Rs6000 would be reversed to my account. if the brokerage generated is Rs.10000.00 then only fee of Rs.7500 is reversible as the maximum amount reversible is the advance fee. The reversible will be done on monthly basis till the end of tenure.I am also told that I can pay additional advance brokerage in between to avail the reversible. Is this true?A.Gupta

95. umar  Nov 12, 2013 8:35:37 PM IST |  Reply 

that is very bad service
i ask to d office that when u r going to deposit my cheque they told me that it is not possible before deiwali u can cash
bt they deposit my cheque before diwali and it is bounce
atleast confirm once before deposting realy irritating

95.1. umar  Nov 14, 2013 4:13:15 PM IST | 

what is procedure to deactive demat account of kotak

95.2. kotak securities  Nov 18, 2013 10:52:35 AM IST | 

Hi Umar,

We would like to get in touch with you to understand your concerns. Request you to share your client id here for us to progress matters further.

Regards,
Team Kotak Securities.

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