Kotak Securities FIT Plan

Yes, you’re at right place. Here, you’ll get to know everything you always wanted to know about Kotak Securities FIT Plan. What is intraday trading? What are the features of Kotak Free Intraday Trading or Kotak FIT are explained in this Kotak Securities FIT Plan Review post.

In the field of intraday trading, it is believed that the lower the brokerage, the lower the break even to generate profits. To promote retail involvement in stock markets Kotak Securities Limited has come up with Free Intra Day Trading or FIT plan. No brokerage charges regardless of the size of the trade, platform or market section for a yearly charge of Rs 999 (kotak securities 999 plan).

By Kotak Trade Free Plan, Kotak Securities is empowering their customers to trade & invest anywhere and anytime in easy & secure way.

What is Intraday trading?

A trader or investor can trade in two ways either buy stocks and sell it within the day or buy or hold for more time.

Intraday simply means within the day. In intraday trading, a person buys and sells stocks during fixed trading hours in a single day. For instance, if one buys shares of M&M on Tuesday, he would have to sell it on the same day for it to be measured a day trade. If you buy stocks of some company on delivery basis, these stocks will be moved to your Demat Account. You can keep them for 5 years or sell them the next week. In Intraday trading stocks are not basically transferred to your account and you have to settle your position before the market close on the same day.

Income from intraday equity trading is measures as speculative. it is a good way to reflect your capital gains as a business income if your trading frequency is higher or if investing/trading is your first source of income.

For result-oriented intraday trading lower the brokerage cost; the lower the break even to generate profits.

• Brokerage charges for the stocks traded under the day trading segment are quite less than Delivery segment but still a considerable amount.
• High Margin is available for Day trading (for example, if you have Rs.5000 in your account, you will be permitted to perfect transactions worth several times of this value. This ratio differs as per the respective policy of the Brokerage firms.)

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Kotak Free Intraday Trading (FIT)

Kotak Securities recently launched a new brokerage plan called Kotak FIT Plan. In this plan, Kotak offers unlimited equity intra day trading at flat Rs 999 per year. It is a subscription-based plan.

Although equity markets are perfectly developed in India, only 5% of household savings discovers its way to stock market Through FIT KSL’s attempt is to encourage retail participation in stock markets and further support channeling of savings into the formal system.

1. The plan name is FIT (Free Intraday Trading).
2. The plan offers unlimited intraday equity trading in segments like Equity Cash and F&O for a yearly charge of Rs 999. That is less than Rs 4 per day. No brokerage charges notwithstanding of the level of the trade, platform or market segment.
3. Existing customers can sign up for FIT by getting in touch with the Customer Care team.
4. You Get unlimited access to equity and derivatives reports by Kotak’s award-winning Research team
5. FIT is only appropriate for self-produced orders i.e. where the buy and sell leg orders are placed on the Kotak Securities platform by the customer directly. Call & Trade or orders placed through dealers are not included in this plan.
6. Customers will have to enable margins as per the existing agreement with Kotak Securities. Unlike most brokers, Kotak doesn’t provide high margins.
7. FIT cannot be used by ODIN Diet clients, NRI, QFI

Kotak Securities FIT Plan & Brokerage Charges

Kotak Securities FIT or Free Intraday Trading is actually a subscription-based product at a yearly level. A possible or an existing client of Kotak Securities can sign up for this plan by depositing a yearly charge of ₹999 per year and register for this 999 plan.

After successful subscription, he or she can opt for free brokerage-based trading across Equity, Futures & Options. A brokerage of 1 paisa per script traded will be charged.

It is necessary to know that Kotak Securities FIT (Free Intraday Trading) is available only for orders that are perform by him or her using a trading platform of the stockbroker, for example, Kotak Stock Trade or Keat Pro X.

In addition, as mentioned above, it is available at Equity & Derivatives levels only for now and cannot be used in Currency or Commodities trading segments. At the same time, if your intraday trade is not settled in the trading session, then the transformed delivery trade will have the delivery brokerage charges levied.

Primary benefits of Kotak Securities FIT

• No load of brokerage being generated as the subscription fee is a one-time yearly charge and you can execute any number of orders with no restriction on the quantum of the trade value as well.
• Daily research, tips and recommendations for your intraday trades along with Target Price and Stop Loss numbers.
• Analysis of long /short built up, for all derivative stocks & customized derivative strategies. It is suggested that you learn to understand these strategies and then place your orders based on what is concluded.
• Rational quality of customer support and service with various modes of communication.
• Offline support in the form of sub-broker and franchise offices in various parts of the country.

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Conclusion

Kotak Securities FIT is one of its kind of concept, however, it is slated to highlight a win-win situation for both the client and the stockbroker.

For clients exactly inclined towards intraday trading, it is a reasonable option to place trades for the whole year at a trifling cost. For the stockbroker, it is a wonderful way of client acquisition which is placed at #6 in regard to active clients in India.

Keeping this in mind, discount brokers are there for a reason and they offer good brokerage charges across all trading segments. Therefore, to reach to that mark will definitely be not a possibility. This concept is projected towards a very niche of intraday traders and nothing beyond.

Hence, if you are poised for Intraday trading ONLY and need some support in intraday research and tips, Kotak Securities FIT Plan is worth your attempt.

FAQs – Kotak Securities FIT Plan