Kotak Securities also stated that it would offer MIS and super multiple (cover order) at Rs 20 per order. It said that it would allow clients to use stocks as margin instead of cash margin.
Kotak Securities on Thursday said that it would charge zero brokerage to clients for intraday trades. For all other futures and options trades, the brokerage stated that it would charge Rs 20 per order across all derivatives segments which consists of equities, commodities and currencies.
Kotak Securities also stated that it would offer MIS and super multiple (cover order) at Rs 20 per order. It said that it would allow clients to use stocks as margin instead of cash margin. Also, it would provide customer satisfaction guarantee under the Trade Free Plan, which means that if the customer is not satisfied with the services then they can within one month of account opening ask for refund of fees and brokerage.
With this new plan, the stock broker has allowed customers to open a broking account in just 60 minutes and start trading on the same day. The Trade Free plan would be offered to prospective customers at a one-time account opening fee of Rs 499 excluding GST. The brokerage stated that existing customers could opt for the plan with the same fee.
Jaideep Hansraj, managing director and CEO, Kotak Securities, said, “We offer multiple customised brokerage plans with varying features to suit the trading and investing needs of different customers.
“For example, one of our popular products called ‘Cash Back’ which has a rate of 0.49% for delivery and Intraday is 0.049% besides options which is at Rs 300 per lot.
“As you can see, the Trade Free Plan is significantly different from Cash Back and other Kotak Securities offerings.”
Going forward, the brokerage also disclosed its plans to offer services that would enable its clients to invest in international markets which it would announce in the next ten days.
Kotak Securities stated that it would provide those services in partnership with another firm.
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