Kotak Securities, founded in the year 1994, is a part of the Kotak Mahindra Group. Currently, it is among the leading brokers in India with around 11.95 lakh happy costumers and 1400+ branches all over India. The Kotak Stock Trader App review allows trading across NSE and BSE in Equity F&O, Currency F&O, and Equity. For the convenience of its customer, Kotak securities provide a three-in-one account service, which includes bank account, trading account, and Demat account linked together to deliver a seamless transaction experience.
Trading Platforms by Kotak Securities
To meet the investors’ requirements for a seamless, smooth trading experience, the following are the platforms offered to users of Kotak securities:
- Kotak Web: XTRA LITE is a trading website provided by the broker where its users can execute their trading activities, monitor portfolios, view intraday charts, streaming quotes, and can manage their accounts.
- Trading Terminals: KEATPROX and FASTLANE are terminal-based stock trading applications offered by the popular stockbroker. KEATPROX is an EXE-based application that can be installed on desktop whereas FASTLANE is based on Java applet which offers the same experience as KEATPROX but without any need to install it on your desktop.
- Kotak Stock Trader App: It is a mobile-based application for trading that gives users access to all the features of Kotak Web on-the-move.
- Call Trade: With 1400+ branches, Kotak securities also offer the facility of call and trade.
Kotak Mobile Trading – Stock Trader App
It is a free mobile trading application from Kotak securities which can be downloaded on both iOS and Android devices. At present, the app has more than 500k downloads from the Google Play Store and a rating of 4.3 stars. The size of the application is around 7.1MB.
Kotak Mobile Trading App Features
The application offers a user-friendly, hassle-free online trading experience to users. Traders can easily place buy or sell orders on both BSE-NSE exchanges, modify or cancel orders, and set the stop-loss limits as well.
Maintaining a portfolio by using the Kotak Stock Trader App is also an easy job. It also allows you to check the latest position of your holdings with just a few taps.
Creating a Watchlist
The app allows users to create a watchlist to keep a track of the movement of specific stocks.
By using this application, users can easily transfer funds to the trading account from a bank account and vice versa in a very efficient way.
Hassle-free access to the availability of funds and margin balance helps traders plan future transactions more wisely.
To know more about Margin Trading, read our nicely crafted guide on Margin Trading
Multi Levels of Security
Each time you open the application, you are required to enter the user id, then the login password followed by a security code. This application does not allow your device to store any session’s details. You are automatically logged out of the application if it remains inactive for more than 30 minutes.
By using this application, you can track every moment of the market, see live quotes, intraday charts, and tips. At the end of the day, you can analyze the detailed movement of any scrip from inbuilt charts along with profit-making suggestions.
Opening a Demat Account with Kotak Securities
Opening an account with Kotak Securities is quite simple. All you need to do is:
Get an account opening form and fill it with the right details.
Submit the form with your ID and other required documents including PAN card, address proof, income proof, and photographs.
This follows a verification process conducted in-person
You will be assigned an ID or account number
Alternatively, you can choose to fill a short form on Kotak Securities’ website and get assistance for the same in minutes.
How to Login Kotak Trader App?
When you will open the application, a login screen will appear where you will be asked to enter your username along with your password. These details are provided to registered users at the time of the activation of the Demat & trading account.
How to Place Order Using the App?
- Log in to the app and you will see the dashboard screen.
- Select the desired stock from your watchlist or search using the search icon on the top right.
- On the scrip page, select buy/sell from the options given at the bottom to go to the order screen.
- Add desired values for price and quantity or select Market Order to place an order at the current price.
- You can choose more options by tapping on the Advanced Order.
- Next, you will be shown selected/entered details for confirmation.
- Confirm to place your order.
Trade Charges for Kotak Trader App
The trading application from Kotak Securities is free to use by registered users on Android and iOS devices. However, you only need to pay brokerage and other transaction fees as charged based on your transactions done on any of the exchanges.
Know more about the charges by reading this review on Kotak Securities
Advantages of Kotak Stock Trader App:
- Tips and research reports are available for traders, making trading easier for both beginners as well as experts.
- This application is available for almost every smartphone user, covering major operating systems including Apple iOS and Android.
- Kotak Stock Trader App uses AES 128-bit encryption for making sure that transaction and user data stays safe.
- In case, you are willing to go through a demo of this application, the guest version allows you to access important features like market feeds, watchlists, charts, etc.
- By using this application, you can trade in securities from almost anywhere and that too very conveniently.
Disadvantages/Limitations of Kotak Stock Trader App
- Some features like alert regarding stock price are not available in this application.
- According to current user reviews, they have faced multiple problems related to performance.
- The Kotak Stock Trader App has not received any update from a very long time making it a big concern as it belongs to a brand like Kotak Securities.
In short, Kotak Stock Trader App offers a trustworthy on-the-go trading solution for traders looking for a secure, seamless experience. The application comes loaded with a range of features for both beginners as well as advanced users.
It also helps users to analyze the stock market by providing indicators/charts and an option to create a custom watchlist. Further, being associated with the brand name of Kotak, it gets a bit of reputation advantage as well. However, there is a scope of improvement in terms of performance as per negative reviews from some users that could be solved through an update.