NEW DELHI: To attract young and first-time investors to the company, Kotak Securities on Monday announced the launch of its “No Brokerage Plan” for all young traders below the age of 30.
The plan is free of any brokerage charge for all customers under 30, including delivery trades and intraday trades across equity, currency, commodity and F&O segments. Though the broker will charge an annual fee of Rs 499 for this plan.
Usually, delivery trades are free with discount brokers, but they charge a fixed fee for intraday and derivatives trades. This is appropriate for those who trade heavily and want to save on brokerage costs.
This plan is available for all self-directed investors and traders, the company said. Those who trade through dealers or other service executives will be charged the appropriate brokerage as per their chosen plans. New clients who opt for the ‘No Brokerage Plan’ will also get vouchers worth Rs 1,998 post onboarding.
“We have seen a surge in the new-to-trade and young traders in recent months. The latest ‘No Brokerage Plan’ offered by Kotak Securities will be a welcoming step. A host of value-added services and research insights by our expert analysts are also part of the offering. The young investors can start their trading journey with us with five easy steps online,” said Suresh Shukla, Joint President, Kotak Securities.
“We believe the revision in the charges will bring in more value for the youngsters and would also encourage them to participate more actively in wealth creation,” said Jaideep Hansraj, MD & CEO, Kotak Securities.
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