Kotak Security FIT-Free Intraday Trading Plan

Posted on 2nd Jul 2018
by Admin

Rated 4.5/5 based on 63 customer reviews


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Kotak Security FIT-Free Intraday Trading Plan

After 2+ decade of share broking service, now Full-Service Brokers who are offering 3-in-1 plan are getting heat from discount brokers and taking action towards growing competition. Kotak Security is the first full-service broker who has announced unlimited trading plan which they are calling as Free. But in reality this unlimited plan is not 100% unlimited; this is just for Intraday trades as well as charged Rs 999 yearly.

In simple world product name should be “Unlimited Online Intraday Trading @999 PA”.

How can I get access to Kotak Security FIT Plan?

  • For new customers, you can avail FIT plan on account opening.
  • For existing customers, need to connect with customer care team to get access.

Limitation of Kotak Security FIT Plan

  • The FIT plan is available only for online users. Trade place with the help of dealer is not covered under this plan.
  • The FIT plan is available only for resident Indians.
  • The FIT plan is available only for equity cash and equity derivatives. Not available for currencies and commodity intraday trading. The Super multiple orders (Cash, F&O), Derivatives plus and option plus orders are also not included in a FIT plan.
  • In case clients wish to carry forward their position, the trade gets converted to delivery trade and brokerage will be charged as per plan.
  • No additional margin funding, base margins need to be provided as per agreement.

The advantage of Kotak Securities FIT plan

  • Compare to discount brokers who are providing unlimited monthly or yearly plan, Free Intraday Trading plan is cheapest. This plan is cheaper then Prostocks Rs 899 monthly equity plan and SASOnline Rs 999 monthly equity plan. But it has his own disadvantage as this is limited to Intraday trading only.
  • Get access to research reports – equity and derivatives. This is really a big advantage compared to discount brokers, where discount brokers are not providing any research reports, if providing also they are charging, for example, 5paisa is providing research report as paid service.
  • Trading can be done online via Kotak Security Mobile App “Kotak Security Trader”, Desktop Trading Terminal “Keat Pro X” or browser-based Terminal “Trade Smart terminal” and Trading website. Trade Smart is a paid service from Kotak Security.
  • No capping of intraday orders for the year.

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Conclusion

Kotak Security Free Intraday Trading plan is best fit for traders who wish to do online trading but it’s limited for intraday trading only. For delivery trading or position which is converted to delivery are charged as regular brokerage. Get advantage of the research report. Still, compared to discount broker company need to propose new plans for delivery plan, commodity and currencies derivatives.

SAVE 70% ON YOUR BROKERAGE

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User Comments

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1. Manish K  Jun 6, 2017 7:18:56 AM IST Reply
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