Kotak Securities Consumer Complaints

Kotak Securities Detail

Kotak Securities Ltd, a subsidiary of Kotak Mahindra Bank was founded in 1994. They offers stock broking services and distributes financial products in India. They have 1209 branches, franchisees and satellite offices offers services to 11.95 Lakh customers. They corporate members with the Bombay Stock Exchange and the National Stock Exchange. They are also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). Kotak securitie... Know more about Kotak Securities

Complaint against Kotak Securities Broker

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Kotak Securities brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Kotak Securities customers. The Kotak Securities consumer complaints report analyzes the Kotak Securities online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Kotak Securities broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Kotak Securities complaint no. report also provides Kotak Securities’s number of active clients. This shows the growth of the broker year on year.

Kotak Securities Consumer Complaints

Exchange Financial Year Number of Clients   ? Total Complaints  ? %
BSE 2020-21 141,971 5 0%
NSE 2020-21 717,658 319 0.04%
BSE 2019-20 141,565 21 0.01%
NSE 2019-20 571,806 151 0.03%
BSE 2018-19 97,102 21 0.02%
NSE 2018-19 435,201 178 0.04%
BSE 2017-18 167,450 35 0.02%
NSE 2017-18 368,638 200 0.05%
BSE 2016-17 111,297 22 0.02%
NSE 2016-17 273,895 123 0.04%
BSE 2015-16 104,710 32 0.03%
NSE 2015-16 246,945 140 0.06%
BSE 2014-15 71,018 24 0.03%
NSE 2014-15 268,459 151 0.06%
BSE 2013-14 789,341 38 0%
NSE 2013-14 223,280 188 0.08%
BSE 2012-13 712,313 46 0.01%
NSE 2012-13 674,160 197 0.03%
BSE 2011-12 625,312 85 0.01%
NSE 2011-12 617,855 163 0.03%

Kotak Securities complaint at NSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year
No. of active clients717658571806435201
No. of complaints received *319151178
Resolved through the exchange262133171
Non actionable **3550
Advised / Opted for arbitration310
Pending for redressal with exchange19127
No. of arbitration filed by clients555
Decided by arbitrators in favour of the clients321
Decided by the arbitrators210
Pending for redressal with arbitrators234
% of No. of complaints as against No. of active clients0.040.020.04
% of complaints resolved as against complaints received94.0492.0596.06

Kotak Securities complaint at BSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year403321718627791575943
No. of active clients14197114156597102
No. of complaints received *52121
Resolved through the exchange41820
Non actionable **010
Advised / Opted for arbitration020
Pending for redressal with exchange131
No. of arbitration filed by clients001
Decided by arbitrators in favour of the clients001
Decided by the arbitrators000
Pending for redressal with arbitrators000
% of No. of complaints as against No. of active clients00.010.02
% of complaints resolved as against complaints received8085.7195.24

Note:

  • * Including against its sub brokers, authorised persons, employees, etc.
  • ** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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14 Comments

Rupesh jain
14. Rupesh jain  Mar 15, 2021 14:32 I Like It. | Report Abuse Reply 0
Bina costumer se puche plans lga kr amonut dedect kr liya jb complain lkhao to khate he plan hta diya per amonut non refundable he looter he saale lootne accha trika he inka
Anujkumar
13. Anujkumar  Feb 11, 2021 02:58 I Like It. | Report Abuse Reply 0
Ye aakde jhute he inke Twitter account pr dekho kitni bhashao me inko promote kiya jata he sharm aati he kisi bhi complaints ka jabab Nahi diya jata na koi solutions inke delar khte he ki sebi ko pesa jata he small investors ko lootne ka sabka hissa he loot me
G Nagarjuna
12. G Nagarjuna  Sep 18, 2020 21:38 I Like It. | Report Abuse Reply 0
I bought hindalco shares 4500 on 31.08.2020 at price nearly 185 including brokerage consolidating at 186 ,sold 100 at 194.50 ,100 at 195.40 on 02.09.2020 ,the stock moving upward and crossed 196.30 at that time I am in profit more than 43000 nearly .Due to good opening for next day..I kept remaining 4300 shares without sell..next day i.e on 03.09.2020 in early morning 6.30 am I login in my demat I shocked to see not even single hindalco share on my position to sell ..I shocked and get panic contacted to the kotak stock agent..in early morning..put stop loss at 196 as the shares not showingin my mobile app.he told ok..after that he checked in my account at 9.10 am..he told no shares due to technical problem..I will contact at head office..we will give information..I totally shocked why it happen..I keep on touch with agent due to fast downfall of hindalco shares on that day..at 3.00 pm they given my shares. At that time the hindalco price nearly 191..due to panic I am not in a position to sell that day ..later I sold shares with only Rs 1000 gain in two days..keeping some and bought some shares in panic mind totally I sold shares with loss for amount Rs40000/-.eventhough I not raised complaint but later hcltech shares 1000 bought on 14.09.2020 and sold 200 shares on 17.09.2020 and remaining 800 kept without sold..today morning I.e 18.09.2020 I shocked to see only 600 shares there..same process contacted agent ..he told technical problem he raised complaint..he told at 1pm they will credit..but upto this time..the shares not credited..if share price going down who take responsibility..is this way you given protection,safety given to retail investor..who responsible for this kind of happenings..who will take responsibility for struggle at this time..pleas e give reasons ..I strongly advising this is not the way to give safety to investor.
Malkit singh mangat
11. Malkit singh mangat  Jul 24, 2020 06:27 I Like It. | Report Abuse Reply 0
im operating kotak security account frommlast one year. From last last month i started to check my astatements and found brokages charges are very, eventhough in traday they charging about 0.3 some times. From last month they promised me to charge intraday @ 0.002 but not happening so. There also many other discrepancies also. I looking to reportvthe matter to concern athourities, it will great if someone help me for reporting plat form.
S. S . BHATIA
10. S. S . BHATIA  Jun 18, 2020 11:08 I Like It. | Report Abuse Reply 0
S S BHATIA,,
THE COMPANY IS CHARGING 23% INTEREST ON DELAYED HOLDING/FOLIO CHARGES. THIS IS GLOBELY THE RATE OF INTEREST. AS AGAINST THE NORMAL MARKET INTEREST RATE.
Kenil
9. Kenil  May 15, 2020 20:27 I Like It. | Report Abuse Reply 0
DO NOT open your account with Kotak Securities.. I repeat DO NOT open your account.. They are a bunch of crooks who will deactivate trading in a particaular contract because you are going to make money in it.. and when you call them they will say a plain SORRY. I would advice people to open accounts in various other agencies outside.. Their RISK TEAM DOESNT understand the meaning of RISK
ajay gupta
8. ajay gupta  May 8, 2020 16:12 I Like It. | Report Abuse Reply 0
HI, please all be careful about KOTAK SECURITY, they r very sharp to make money from their client, i got charge brokerage from my account without any trade and when i called them they said its advance brokerage charges, they r stealing money from account wih high brokerage and u will not come to know unless u cross check all ur transaction, when i checked i found just for buying one trade in option they charged me 390 rupees, thats only one side, i complained to KOTAK trader, customer service, escalation team and no one reply, i sent email to branch manager and CEO as well but no reply, so they know how KOTAK making money and making big profit just by seating on chair,
PLEASE avoid opening account in KOTAK security.
Mainul Nisha
7. Mainul Nisha  Mar 30, 2020 15:19 I Like It. | Report Abuse Reply 0
सर 25 मार्च को मैने मारुति सुजुकी का 10 शेयर बाय किया 25 मार्च को ही भूल से 15 शेयर सेल कर दिया सारे पैसे मेरे 30000 कट गए अभी तक रिफंड नहीं हुए कितना देर लगेगा रिफंड होने में सर बताने का कष्ट करें
Kulwinder kaur
6. Kulwinder kaur  Nov 8, 2019 15:57 I Like It. | Report Abuse Reply 0
Sir muja kotak security ka account khole hue 80 days ho gaya par abi tak password nahi mila customers care ko 50 bar call kar liya koi fayda nahi hua 60days ho gay 1200rupes be lay laya please ja to password send kar do nahi to mera balance refund kar do nahi to ma media air court ma kotak security par kase karna padga
A Peter
5. A Peter  May 16, 2019 14:07 I Like It. | Report Abuse Reply 0
My faith in Kotak Securities is getting eroded due to some of my experiences. I want to understand the security system in Kotak securities. How safe is our money, and what are the systems in place so that someone (insider) will not able to siphon off our money and investment? what are the checks? Are they foolproof?

This is not for public consumption.

If any responsible person in the company can explain to me by phone or email it would be useful
Yashaswi Patil
5.1. Yashaswi Patil  Aug 14, 2019 15:24 I Like It. | Report Abuse 0
Kotak securities are providing bad services and I found and I did not check a few months and some of my Mutual funds are not in my account. They did not know about it and I think they just care about their trading fees and not secure about our account.
Baiju Mehta
4. Baiju Mehta  May 18, 2019 16:53 I Like It. | Report Abuse Reply 0
Be careful from your relationship manager. Check with two stage security from their department. Never trust for TIPS on Share market. Do not allow them to invest your money on your behalf. Kotak has no grievance cell or department. They are very liberal in fraud case. They are very soft towards culprit. Take care about your money.
Bikram Kumar Jena
4.1. Bikram Kumar Jena  Jul 20, 2019 12:26 I Like It. | Report Abuse 0
very true. This company resorts to fraud practices
Nandini Mukerjee
4.2. Nandini Mukerjee  Jul 20, 2019 20:57 I Like It. | Report Abuse 0
20/07/2019.
Very True. In my case Deputy Manager - Branch Sales Mr. Raut (AD-77, Salt Lake) explained to me that Margin trading is not very risky. He made me transfer my SBI shares to Kotak. Then the broker (Vikash) kept on buying shares in large quantities - at the top & sold them at the bottom. When margin calls came my SBI shares were systematically sold off. For one & half month I wanted the broker to close all the trades but he insisted on buying - saying this is how trading is done. Finally when he closed all the trades I had lost ₹1,70,000 approx. This happened at the Kolkata - Salt Lake branch office. And I have no idea where to go for help.
Rajan Mehrotra
3. Rajan Mehrotra  Jan 10, 2019 07:51 I Like It. | Report Abuse Reply 0
I forgot my password for login online to trading account. normally it should have been generated online. But Kotak Securities have in the name of providing better service have revamped the system and and now provided on hard copy mail which should take 4 to 5 days to reach you. That means one is blocked from operating the account for these many days. Additionally they have started a whatsapp chat to provide help to client. All useless fellows who do not have any discreation and also do not provide and escalation matrix to clients. Better to opt out from this and have an account safely with other trading platform. In all they are cheating their own clients.
Garima
2. Garima  Sep 7, 2018 23:02 I Like It. | Report Abuse Reply 0
Hello All,

I have an a/c in Kotak Bank & Kotak Securities, with the name Garima Baheti, but they are depreciating funds from my account, & kotak securities. Their salesman committed that it will be a "0" balance account and no charges will be deducted, but they deducted amount from my account, then I went to Kotak Bank, then they committed they will revert back the amount. But I haven't received till yet.

Then now they are asking to pay Kotak securities few charges, I really dont know what are the charges they are asking me to pay. I called them, they said I will they said Sms charges and several other charges. I have never availed these services. They are simply adding more and more accounts and charging extra cheese from all the accounts.

Please beware of them, and dont go for Kotak Bank account anymore.


Best Regards,
Garima Baheti
Nithin
2.1. Nithin  Sep 15, 2018 16:15 I Like It. | Report Abuse 0
My Acount also without permission taken 1176
Stil nt getting ma. Amount...
I wl waite... One day.... I wl so... U.... Who I am....
Jigar Pandya
1. Jigar Pandya  Jun 15, 2018 18:42 I Like It. | Report Abuse Reply 0
Beare Kotak securities KOTAK FIT account is not free they are cheating and became worst, I have opened KOTAK FIT account and suddenly one day they charged me INR 5900 brokerage .








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