Once your Kotak Securities account application is approved and ready, you can start trading equities or buy/sell shares for long term.
Although the online broker supports these segments – F&O, Currency and Equity, you can buy or sell equities only unless you activate the other two. If you want to trade options, futures, or currencies, you will have to enable the same manually. Here are the steps you must follow to do so:
- Sign in to your Kotak Securities account and click on the profile icon located in the top bar and choose the account menu. KS will now display a list of segments and a link with the label “activate”.
- Click the link below the segment you want to activate. When you do so, KS will redirect you to a page that will prompt you to upload an income proof document. The documents the online broker currently supports are ITR Form 16, last six months bank statement, demat account holding statement, etc.
- Once you’ve uploaded the requested document, you will have to e-sign it. To do so, KS will redirect you to the official Aadhar website on which you’ll find a check box to accept the terms and conditions and a textbox in which you must enter your Aadhar card number.
- When you enter your Aadhar ID and click the submit button, the UIDAI website will send an OTP to your Aadhar registered phone number. Enter the OTP and press the enter key. Once UIDAI website verifies the same, you’ll be redirected to Kotak Securities website which will now show the status of the requested segment.
Once you’ve completed the above steps, the Kotak Securities staff will verify your document and will either approve or reject your application. In both cases, you will receive an email from the company’s official email ID.
You started trading derivates but you are facing losses. Now what? It is very difficult to make money or a living by trading options. If you’ve suffered losses, you must deactivate derivatives or trade only Futures if the fund available in your account is more than 100000 Rupees. Futures are costlier than options. They cost 1+ lakh Rupees.
To deactivate options, simply write an email to the customer support team of Kotak Securities or call them. Once you’ve sent an email, the broker will automatically create a ticket and send the service request number to your registered email address. You should wait for the customer support team to reply to your query. When derivates have been deactivated for your account, you will receive a confirmation email on the same.
