Kotak Neo (Kotak Securities) Review
In-depth Analysis of Kotak Securities’ Neo Platform & Services.
Explore Kotak Neo1. Broker Overview
Parent Company: Kotak Securities Ltd.
Platform Brand Name: Kotak Neo
Year of Establishment (Kotak Securities): 1994
Type: Full-Service Broker (with Discount Brokerage Plans via Neo)
Headquarters: Mumbai, Maharashtra
SEBI Stock Broker Reg. No: INZ000200137
SEBI Portfolio Manager Reg. No: INP000000258
SEBI Research Analyst Reg. No: INH000000586
AMFI Reg. No (ARN): ARN-0164 (Valid till July 23, 2027)
Depository Participant: NSDL (IN-DP-629-2021) & CDSL
2. Investment Products Offered via Kotak Neo
Kotak Neo provides a diverse range of investment options:
- Equity (Stocks – Delivery, Intraday on NSE, BSE)
- Equity Derivatives (Futures & Options)
- Currency Derivatives (Futures & Options)
- Commodity Derivatives (Futures & Options – MCX, NCDEX)
- Mutual Funds (Regular Plans only)
- Initial Public Offerings (IPOs)
- ETFs (Exchange Traded Funds)
- Bonds & Debentures / NCDs
- SGBs (Sovereign Gold Bonds – when available)
- Portfolio Management Services (PMS)
- Fixed Deposits (FDs) & Small Savings Schemes
These products are accessible through Kotak Neo’s web and mobile platforms, offering advanced charting tools and research support (research may vary by plan).
3. International Investing: U.S. Stocks and Global Markets
As of now, Kotak Neo platform itself does not directly support investment in U.S. stocks.
However, Kotak Securities offers a Global Investing account that allows investors to access U.S. markets. This feature is typically available through the Kotak Stock Trader app, not the Kotak Neo platform. Customers should verify the current process with Kotak Securities.
4. Portfolio Management Services (PMS)
Kotak Securities offers Portfolio Management Services catering to high-net-worth individuals seeking personalized investment strategies:
Customized Portfolios: Tailored investment portfolios based on individual risk profiles and financial goals.
Professional Management: Dedicated portfolio managers to oversee and adjust investments.
Diversification: Investments across equities, fixed income, and structured products.
Transparency: Commitment to transparent fee structures and regular performance reporting.
PMS is suitable for investors looking for a hands-off approach with professional oversight.
5. Mutual Fund Offerings
Kotak Neo offers Regular Mutual Funds only — not Direct Mutual Funds.
What this means:
- Regular Plans: Come with a distribution/commission fee paid to Kotak Securities by the fund house. This commission is embedded in the plan’s expense ratio, making it slightly higher than Direct Plans.
- No Direct Plans: Investors looking for direct mutual funds (which have a lower expense ratio due to no commission) will not find that option on Kotak Neo’s platform.
Summary of Mutual Fund Offering:
- Type: Regular Plans only
- Access: SIPs, Lumpsum, ELSS, NFOs
- Platform: Kotak Neo App, Website
- Commission: Yes (embedded in the expense ratio of Regular Plans)
6. Overall Ratings & Breakdown
7. Account Opening
Account Opening Fee:₹0 for most plans (e.g., Trade Free Plan, Trade Free Pro). ₹99 for Trade Free Youth Plan. (Verify current offers)
AMC (Annual Maintenance Charge):Varies. See “Demat Account Charges” section for details (BSDA / Non-BSDA rates apply).
Process:Online & Offline options available.
Required Documents:PAN Card, Aadhaar Card (linked with mobile), Bank Proof, Signature, Income Proof (for F&O).
8. Brokerage Plans (Kotak Securities)
Kotak Securities offers multiple brokerage plans. The “Trade Free Youth Plan” is particularly attractive for younger investors with zero brokerage on delivery. Other plans offer competitive rates for active traders.
| Feature | Trade Free Plan | Trade Free Youth Plan | Trade Free Pro Plan | Trade Free Max Plan |
|---|---|---|---|---|
| Eligibility | All customers | Individuals < 30 years | Resident Indians (Indv.) & Non-Individuals (Excl. NRIs, offline, employees, franchisees) | All customers |
| Account Opening Fee | ₹0 | ₹99 | ₹0 | ₹0 (Verify) |
| Subscription Fee | None (Switching Fee from other plans: ₹499 + GST) | None | ₹249 + GST per month | None (Verify) |
| Equity Delivery | 0.20% of transaction value | ₹0 (Zero Brokerage) | 0.10% of transaction value | 0.25% of transaction value or ₹20, whichever is higher |
| Equity Intraday | ₹10 per order or 0.05%, whichever is lower | ₹10 per order or 0.05%, whichever is lower | ₹10 per order or 0.05%, whichever is lower | ₹20 per order (Verify, as not explicitly stated as different from F&O) |
| Futures & Options (Carry Forward & Intraday) | ₹10 per order | ₹10 per order | ₹10 per order | ₹20 per order (Carry Forward) |
| Currency & Commodity | ₹10 per order | ₹10 per order | ₹10 per order | ₹20 per order |
| Margin Trading Facility (MTF) Interest | 0.041% per day (14.99% p.a.) | Not Specified (Likely default rate) | 9.75% p.a. | Not Specified (Likely default rate) |
| Plan Validity | Lifetime | 1 year (renewable) | Monthly Subscription | Lifetime (Verify) |
| DP Outgoing Charges (Sell Delivery/BTST) | Standard DP Charges (see Demat section) | Standard DP Charges (see Demat section) | Standard DP Charges (see Demat section) | 0.04% of value of securities (min ₹20) |
Important: Brokerage plans and fees are subject to change. Always verify the latest details on the official Kotak Securities website. Statutory charges (STT, Exchange Fees, GST, etc.) apply in addition to brokerage.
9. Demat Account Charges
Account Maintenance Charges (AMC)
Basic Services Demat Account (BSDA):
- Holding Value ≤ ₹4 lakhs: ₹0 (Zero AMC)
- Holding Value > ₹4 lakhs and ≤ ₹10 lakhs: ₹100 + GST per annum
- Holding Value > ₹10 lakhs: Account converts to Non-BSDA, charged ₹50 + GST per month.
Non-BSDA Clients:
- Holding Value ≤ ₹1,000: ₹0 (Zero AMC)
- Holding Value > ₹1,000: ₹50 + GST per month
Other Demat Charges
Dematerialization Charges:₹150 per certificate + ₹50 per request (courier charges)
Rematerialization Charges:₹10 for every 100 securities (minimum ₹15 per request)
DP Transaction Charges (Sell-Side Market & Off-Market):0.04% of transaction value (minimum ₹20 per transaction). Note: Trade Free Max plan has this embedded for sell delivery.
10. Regulatory & Other Charges
These charges are levied by the government and exchanges and are applicable over and above brokerage.
Securities Transaction Tax (STT)
Equity Delivery:0.1% on both buy and sell
Equity Intraday:0.025% on sell side
Equity Futures:0.01% on sell side
Equity Options:0.05% on sell side (on premium)
Stamp Duty (Example: Gujarat – Varies by State)
Equity Delivery:0.015% on buy side
Equity Intraday:0.003% on buy side
Equity Futures:0.002% on buy side
Equity Options:0.003% on buy side
Exchange Transaction Charges
Equity Delivery & Intraday (NSE):0.00325% of transaction value
Equity Delivery & Intraday (BSE):0.00375% of transaction value (Group A, B etc. may vary)
Equity Futures (NSE):0.0019% of transaction value
Equity Options (NSE):0.05% of premium value
Other Levies
SEBI Turnover Fees:₹10 per crore of turnover (Approx. 0.0001%)
Goods & Services Tax (GST):18% on (Brokerage + Exchange Transaction Charges + SEBI Fees)
11. Margin & Leverage
Intraday (Equity):Up to 5x (Stock & SEBI specific)
F&O (All Segments):As per Exchange (SPAN + Exposure)
Delivery (Equity – MTF):Margin Trading Facility (MTF) available. Interest rates vary by plan (e.g., 9.75% p.a. to 14.99% p.a. – see Brokerage Plans section).
Against Pledged Shares:Yes, available post haircut.
12. Trading Platforms
Web:Kotak Neo Web Platform, Kotak Securities Website (for account management, research etc.)
Mobile:Kotak Neo App (Android & iOS), Kotak Stock Trader App (for some legacy features/global investing)
Desktop:KEAT Pro X (Downloadable Trading Terminal)
Notable Features (Kotak Neo):
- User-friendly and modern UI
- TradingView & ChartIQ charting libraries
- Easy order placement, multiple watchlists
- Access to research reports (may vary by plan/subscription)
- Quick fund transfers
13. Tools, Features & Advisory
Charting:TradingView, ChartIQ on Neo; Advanced charts on KEAT Pro X.
Option Chain:Available with Greeks, Payoff charts, and other analytical tools.
Strategy Builder:Option strategy tools available on platforms.
API Access:Yes, Kotak Securities provides Trade API for algo trading and custom solutions.
Order Types:Market, Limit, Stop Loss (SL), GTT (Good Till Triggered), AMO (After Market Order), Bracket Order, Cover Order, Basket Order.
Research & Advisory:
As a full-service broker, Kotak Securities provides:
- In-depth research reports (Equity, Economy, Sectoral).
- Stock recommendations and trading calls (access may depend on service package or plan).
- Dedicated Relationship Manager (RM) support (may vary by plan and AUM).
14. Extra Features & Value Adds
Strong Research & Insights:Access to comprehensive research, market outlook, and stock picks from Kotak’s reputed research team.
Dedicated Support & Branch Access:Option for Relationship Manager support and access to Kotak Securities’ extensive branch network across India.
3-in-1 Account:Seamless integration of Kotak Mahindra Bank Savings Account, Demat Account, and Trading Account for easy fund management.
Wide Range of Financial Products:Beyond stocks & MFs, access to Bonds, NCDs, PMS, Insurance, Loans etc., through the Kotak group.
“Trade API” & Algo Trading:Robust API for developers and algo traders.
Educational Resources:Regular webinars, seminars, and learning modules on various investment topics via ‘Knowledge Bank’ and other initiatives.
Note: Some features, especially RM support and premium research, might be tied to specific brokerage plans or Asset Under Management (AUM) criteria.
15. Pledge Facility
Pledging Allowed?Yes
Pledge/Unpledge Charges:Approx. ₹25 to ₹60 + GST per request/ISIN. (Verify exact current charges)
Margin Time:Usually T+1 day for margin against shares.
16. Fund Transfer & Withdrawal
Supported Fund Transfer Methods:Net Banking (from linked Kotak Bank or other approved banks via payment gateway), UPI, NEFT/RTGS/IMPS. Funds added very quickly.
Withdrawal Process & Time:
Online process via platform.
- Standard NEFT/RTGS: Typically processed within 24 working hours. Withdrawal requests placed during market hours often processed same day.
- Instant Withdrawal: Not explicitly advertised as a standard feature for all clients; availability and charges should be verified.
Fund Transfer/Withdrawal Charges:Varies by method and plan. Standard NEFT/RTGS for withdrawal may be free. Payment gateway charges for fund addition may apply. [Verify specific charges].
17. Customer Support
Support Channels:
- Email: service.securities@kotak.com (or customerservice@kotaksecurities.com)
- Phone Support: 1800 209 9191 (Toll-Free) or other specific numbers.
- Live Chat / Chatbot (KAYA) on Website/Platform
- Branch Support (Extensive network across India)
- Dedicated Relationship Manager (for eligible clients/plans)
- Grievance Redressal / Contact Us Page: View Here
Support Timings:Generally standard business hours (e.g., 8 AM – 6 PM). Some channels may have extended support.
Turnaround Time (TAT):Varies by channel and query complexity. Phone and chat are usually quicker for general queries.
18. Broker Complaints & Reliability (FY 2024–25)
NSE (National Stock Exchange)
Active Clients: 1,484,038
Total Complaints: 1,065
Complaint Percentage: 0.07%
BSE (Bombay Stock Exchange)
Active Clients: 605,808
Total Complaints: 66
Complaint Percentage: 0.01%
Source: Chittorgarh – Kotak Securities Complaint Monitor (Data for FY 2024-25). Complaint data is dynamic. For a fair comparison, always look at the ratio of complaints to active clients and refer to official exchange reports if possible.
19. Why Choose Kotak Neo? (And Why It Might Not Be For You)
Reasons to Use Kotak Neo (Pros)
- Competitive Brokerage Plans: Especially “Trade Free Youth Plan” with ₹0 delivery brokerage. Other plans offer flat fees for active traders.
- Backed by Kotak Mahindra Bank: Strong brand trust, legacy, and banking ecosystem.
- Comprehensive Research: Access to in-depth research reports and advisory (core Kotak Securities strength).
- Multiple Trading Platforms: User-friendly Neo (Web/App) and powerful KEAT Pro X (Desktop). Easy UI on Neo.
- Good Customer Support: Multiple channels including extensive branch network and RM option.
- Wide Range of Products: Holistic financial solutions including MFs (Regular), Bonds, PMS, Insurance, Loans.
- 3-in-1 Account Option: Seamless fund transfers with Kotak Bank account.
- Quick Fund Management: Fast fund addition and same-day withdrawal processing typically.
Reasons to Reconsider Kotak Neo (Cons)
- AMC: Can be higher than pure discount brokers after any initial free period, depending on holding value (see Demat charges).
- Subscription Fees for Some Plans: E.g., “Trade Free Pro Plan” has a monthly fee.
- No Direct Mutual Funds: Only Regular MFs are offered, which have higher expense ratios.
- Full Research/RM Benefits: Might be linked to premium plans or higher AUM.
- Global Investing Not on Neo: Requires using Kotak Stock Trader app for US stocks.
- Complexity of Plans: Multiple plans can be confusing for new users to choose from.
20. Current Offers & Referral Program
Account Opening Offers:Kotak Securities frequently has introductory offers like free account opening for certain plans, or waiver/discount on subscription fees. Always check their official website.
Refer & Earn:Yes, Kotak Securities typically has a referral program with benefits for both referrer and referee. Check website for current details.
Promo Code:May be available during specific campaigns, through partners, or via referrals.
Important: Offers and promotions are dynamic and subject to change. Always verify current details on Kotak Securities’ official website before making any decisions.