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Kotak Securities Consumer Complaints

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...

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
NSE	2020-21	604,820	56
BSE	2019-20	141,565	21
NSE	2019-20	571,806	151
BSE	2018-19	97,102	21
NSE	2018-19	435,201	178
BSE	2017-18	167,450	35
NSE	2017-18	368,638	200
BSE	2016-17	111,297	22
NSE	2016-17	273,895	123
BSE	2015-16	104,710	32
NSE	2015-16	246,945	140
BSE	2014-15	71,018	24
NSE	2014-15	268,459	151
BSE	2013-14	789,341	38
NSE	2013-14	223,280	188
BSE	2012-13	712,313	46
NSE	2012-13	674,160	197
BSE	2011-12	625,312	85
NSE	2011-12	617,855	163

Kotak Securities complaint at NSE

	2020-21	2019-20	2018-19
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year
No. of active clients	604820	571806	435201
No. of complaints received *	56	151	178
Resolved through the exchange	21	133	171
Non actionable **	4	5	0
Advised / Opted for arbitration	0	1	0
Pending for redressal with exchange	31	12	7
No. of arbitration filed by clients	2	5	5
Decided by arbitrators in favour of the clients	0	2	1
Decided by the arbitrators	0	1	0
Pending for redressal with arbitrators	2	3	4
% of No. of complaints as against No. of active clients	0	0.02	0.04
% of complaints resolved as against complaints received	44.64	92.05	96.06

Kotak Securities complaint at BSE

	2019-20	2018-19	2017-18
Defaulter Yes/No	No	No	No
No. of clients at the beginning of the year	1862779	1575943	1321327
No. of active clients	141565	97102	167450
No. of complaints received *	21	21	35
Resolved through the exchange	18	20	37
Non actionable **	1	0	0
Advised / Opted for arbitration	2	0	5
Pending for redressal with exchange	3	1	1
No. of arbitration filed by clients	0	1	1
Decided by arbitrators in favour of the clients	0	1	0
Decided by the arbitrators	0	0	0
Pending for redressal with arbitrators	0	0	0
% of No. of complaints as against No. of active clients	0.01	0.02	0.02
% of complaints resolved as against complaints received	85.71	95.24	105.71

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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10 Comments

10. S. S . BHATIA Jun 18, 2020 11:08

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.

9. Kenil May 15, 2020 20:27

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

8. ajay gupta May 8, 2020 16:12

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.

7. Mainul Nisha Mar 30, 2020 15:19

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

6. Kulwinder kaur Nov 8, 2019 15:57

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

5. A Peter May 16, 2019 14:07

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

5.1. Yashaswi Patil Aug 14, 2019 15:24

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.

4. Baiju Mehta May 18, 2019 16:53

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.

4.1. Bikram Kumar Jena Jul 20, 2019 12:26

very true. This company resorts to fraud practices

4.2. Nandini Mukerjee Jul 20, 2019 20:57

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.

3. Rajan Mehrotra Jan 10, 2019 07:51

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.

2. Garima Sep 7, 2018 23:02

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

2.1. Nithin Sep 15, 2018 16:15

My Acount also without permission taken 1176
Stil nt getting ma. Amount...
I wl waite... One day.... I wl so... U.... Who I am....

1. Jigar Pandya Jun 15, 2018 18:42

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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Kotak Securities Consumer Complaints

Complaint against Kotak Securities Broker

Kotak Securities Consumer Complaints

Kotak Securities complaint at NSE

Kotak Securities complaint at BSE

Contact Kotak Securities

10 Comments

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