Mar 10, 2006 12:06 PM
5770 Views
(Updated Mar 10, 2006 12:06 PM)
I selected Kotak securities primarily due to their low brokerage structure and facility to apply online for IPOs. However, I analysed recently that Kotak securities is very smart when it comes to charging for Demat transactions. Whenever I sell stocks, a minimum of Rs.23 is charged by them, which is above the brokerage. I will take an example, lets say I bought 200 stocks of some company. Now I sell it in bunch of 50 and make 4 transactions. For this I would be charged 23x4=Rs.92. Even if I do all the 4 transactions on the same day, Rs.92 would be charged from me. This is all above the brokerage, which is around 0.7%. I would say, portfolio manager is also having serious bugs, which sometimes shows stocks as available which have already been sold and vice versa. Money management interface is not very clean, it is difficult to understand the way money is being used up. As for the good site, they provide live stock ticker, which is quite neat and has some good features. All the stock trading can be done using this ticker. Apart from this, around 30 stocks can be added to it and various indicators can be seen for each of the stocks in the ticker. For a trader, features are good, but for a small investor, demat charges are too much to bear.
