Want to open a demat account online for trading options and came across Kotak Securities? Here, I have discussed various option trading features along with the brokerage the company will charge when you buy or sell India’s most popular derivate instruments i.e. options.
Kotak Securities operates two websites – one having the same name as the firm and another dubbed as “Neo”. Neo is an application designed for traders. If you have not joined it yet, fill out the account opening form when it is active once again. After the December 2022 incident wherein the Kotak Neo website stopped working, the online broker has temporarily stopped adding new accounts. The firm will resume the same after a few weeks. If you’ve a demat a/c with Kotak Securities, ask the company’s support staff to transfer your profile to Neo.
Charges
Before signing up for an online broker, the first thing that people see is brokerage. Kotak Securities is one of the handful of companies that charge brokerage on delivery orders only. For intraday positions, you won’t be charged any brokerage. The charges that you will see in the contract note are levied by the Government of India. The charges I am talking about is STT, stamp duty, exchange transaction, etc.
Option chain
The best way to track the price of options is to see their chain. Kotak Securities Neo application has a basic option chain module that shows the call/put contracts open interest and their latest price. There’s a date selector on the page. KS enables you to bulk select and add multiple instruments to the basket. Neo doesn’t display the Greeks data.
Trading calls
Kotak Securities has been sharing trading ideas with their customers for many years. On the home page of Neo application, there’s a “Research” section where you will find the option to open the “calls” section.
Trading Calls are grouped into two sections – Equity and Derivative. If the NSE derivatives segment isn’t active for your account and you trade only in the cash segment, the equity “calls” are for you. Kotak Neo boasts intraday as well as positional calls.
Trading Calls section shows a table with the following five columns:
- Call Expiry date, LTP, target.
- Stop loss, details.
If you want to create a position which is shared in the “trading calls” section of Kotak Securities, do some research and don’t forget to add a stop loss.
Bracket order
This feature was requested by many customers in the past and it is now live. To place BO, click on an instrument available in the watchlist and select the “Intraday” tab on the side panel. You will now see many fields and buttons. The Bracket Order button would be disabled. Choose the limit order type to enable the button and fill out the following two fields:
Stoploss spread: Here, enter the points after which the system should exit the order automatically. If you enter 5, 5 will be the stop loss. The price of the scrip falls by this number, the system will exit the position.
Target spread: In this field, you should enter the number of points after which Kotak Securities should book the profits. For example, enter 7 to take 7 points profit.
Chart
TradingView chart is a vital part of Kotak Neo. It is the most popular stock market charting tool. You can access the same by either clicking on the instrument and selecting the “view detailed chart” option or by clicking the “technical chart” icon which is displayed when you move the mouse cursor on the derivative instrument.
Kotak Neo has made available all popular indicators in the TradingView chart. It doesn’t support multi chart layout yet. Also, any drawings you make on a chart would be wiped off if you reload the tab in which the chart is open.
Pros
Powerful and stable: As mentioned earlier, Kotak Securities had some issues in the past. The company has sorted out the problem and has rolled out some useful features in the last couple of months. This makes it a great platform for trading options.
Cons
A few features are missing: Greeks data, multi-chart layout, and ability to save chart drawings are the three things you will not find in Kotak Securities Neo web or mobile application.
