Hi,
This is Chandrakant Tiwari and I have my trading account with Kotak securities for last 3 months.
Code - 28OS0

When I opened my account, I paid the cheque of 50K and I was told that my brokerage charges will be 10 paisa settlement and 1 paisa intra day per 100 rs.

But when I checked my statements now, it is 40 paisa and 4/5 paisa or 0.4% whichever is higher.

I have already complained thrice about this fraud but no help from kotak bank.

I have checked with my friends also, they say this is very common with Kotak securities. While opening the account they commit something else but the actual charges are way too high.
Thy guy whom I dealt with while opening the account has left Kotak securities and other are shying away to answer my questions. I have sent several emails to service.securities@kotak.com but no response, already called their customer care number 4 times but no help.

Not sure what to do with these guys, and how come these banks involved in such a well planned fraud.


Thanks,
Chandrakant Tiwari, Hyderabad