Kotak Securities Complaints & Reviews

BEWARE !! BEWARE !!

OF THUMPING EXTRA ''HIDDEN'' BROKERAGE CHARGES, OTHER THAN STATED IN PLAN SHOWN TO CLIENTS INITIALLY...
KOTAK SEC'S FRAUDELENT METHODS OF CHEATING CUSTOMERS -
BROKERAGE PLANS SHOWN ON WEBSITE OF TRADING CUSTOMERS INDICATE ONLY PART OF THE CHARGEABLE BROKERAGE TO CUSTOMERS.
KOTAKSEC. HAVE ' HIDDEN'' EXTRA CHARGES, OTHER MINIMUM CHARGES APPLICABLE...

It's been more than 30 days but still NO ANSWER and SUPPORT has come from anybody. Hope writing here will help to reach the right section of people and get it resolved ASAP.

From: Satya B
Sent: Wednesday, July 13, 2011 3:03 PM
To: 'krishna.[protected]@kotak.com'; 'harikrishna bandi / Kotak / Securities'; 'service.[protected]@kotak.com'
Subject: RE: [SR#:1-[protected]] - Official...

Hi Team,

Here is big grievance as I had applied for a online demat account on 3-June-11 at your Ganga Plaza Branch Office Meerut and it has been opened on 14-june-11 after taking so many follow-ups but after opening this account Mr. Maninder and Mr. Rohit told me that it is offline account and if you want to open online account you have to submit all the documents again and a cheque of Rs 750.

So please explain...

My customer ID is WDRD5.

This was regarding a concern of a short sell that I had done on 30th May post which I had contacted your contact center at 1:11PM to 1:16PM to clarify a point. I was very clear on the call to explain what I have done and how long a time do I have to place a buy order for the short sell that I had done. The representative mentioned and advised that I can place a buy order any time before 10:30AM Wed....

I used this stupid software to buy a company's 500 shares shares out of which 142 got executed but it did not get shown in as TRADED so I thought its not executed, but I got a SMS saying that 142 out of 500 shares got transacted so this is one problem, now next day when I tried to sell off this 142 shares, I just went to Risk Report option and sold off the shares which did not informed before that you need to sell off in same exchange...

To
Kotak Securities ,
Somajiguda,
Hyderabad

Sir ,

This is to bring to your notice , the misuse of the contact information provided to the kotak Securities ,
I provided my details to check if I could get the information on Kotak ETF, as I was interested in the same .
Your Staff member . Ms.Bhuvaneshwari Kumar , had been using your official lines[protected] to contact...

Dear Sir/Mam

This Complaint is Regarding about my pf withdrawl. i had work with kotak securities from 24 april 2006 till 31st july 2009 After that i had submitted my pf withdrawl in kotak off dated 29 sep at delhi off after that so many reminders kotak hr has given me status that your withdrawl form is already submitted to pf bandra off dated 2 nov 2010 i have a reciept which is already showing in bandra pf website also.After...

DEAR FRIENDS,
I AM USING KOTAK SECURITIES ,KEAT X PRO, DO YOU USING KOTAK SECURITIES SOFTWARE,KEAT X PRO.SOFTWARE IS PATHETIC & WASTE SOFTWARE.SOMETIMES I GOT ERROR MESSAGE, 'UNABLE TO DOWNLOAD CHARTING TOOL'.
THEN I UNINSTALL & REINSTALL THE SOFTWARE, TO SOLVE THE PROBLEM.SOMETIMES HANGS & CAN'T BUY OR SELL,MADE CRITICAL POSITION AT CRITICAL TIMES, .WHEN WE CLOSE & OPEN THE SOFTWARE AT NOT RESPONDING...

I am abhishek mohan , sub broker of nse( INS[protected]/[protected], affiliated to kotak sec ltd with last 4 years .
this is regarding bad business process and fraud by kotak sec to me in feb 2011.
Fraud and cheat of TOTAL rs 68000 in form of access charges of automated voice recording machine and vsat surrender valuation .

1.> Kotak sec has failed to provide the vsat agreement copy and DONE fraud OF rs 42000...

Account closure request being ignored continuously for 2 months due to highly inefficient and unprofessional staff. All charges are getting imposed on my a/c. always contradictory response from customer service officials. HIGHLY UNETHICAL and UNPROFESSIONAL company....

I’ve opened a demat account with Kotak Securities (Client Code -WCU59) one month back under commitment(executive Munmun) of brokerage of 30 paise on delivery and 3 paise on intraday.

However, I’ve been charged a brokerage of 49 paise on all my trades till date, which was identified by me today. This is a new low in service standard I’ve ever come across and frankly feel I’ll never ever come across this low standard...

This is relating to my opening Account with Kotak Securities on being trust of professional Organization and will help me in building wealth on my investments that were in delivery format.To my surprise the relation ship manager assigned to me has started trading on my account with out discussing with me about my risk apptitude or financial position.

Initially I thought he will do the needful by limiting my losses with Stop...

Hi Team,

I’ve opened a demat account with Kotak Securities (Client Code -UFCD8) a couple of months back under commitment of brokerage of 10 paise on delivery and 3 paise on intraday.

However, I’ve been charged a brokerage of 48.899 on all my trades till date, which was identified by me in the 1st trade and reported to the Relationship Manager (mail attached for your records), Mr.Ajay Kharat at which he said...

Dear Sir/Mam,

I am Heera Jagadish Singh from Hyderabad.As i was cheated by every one in your kotak securities even all of your employers cheated me.i lost hope on kotak securities.

the reasons are

1) I worked for kotak securities for 24 days as i am not generating any business i came out from the organization without taking any salary because i did not generated any business thats why i refused...

I invested in Kotak mutual fund in Feb 2007(atleast that what I was promised) but Kotak ( I can't remember the agents name properly but my best
guess would be "Dipesh". Anyway he cannot have done it without KOTAK's knowledge) invested my money in Kotak Insurance (Policy Number [protected] dated 13/02/2007). When I challenged the agent on why I money was invested in ULIP rather than Mutual Fund, he told me that...

KOTAK SECURITIES DID NOT CHANGE MY ADDRESS FOR 2 YEARS. THEY DID NOT SUPPLY ME A STATEMENT OF MY DMAT HOLDING EVEN AFTER REPEATED REQUESTS THR THEIR RM MR MANISH BANSAL. AFTER SEVERAL COMPLAINTS AND SEVERAL VISITS THEY CHNAGED TEH ADDRESS AFTER 2 YEARS AND THEN ONE FINE DAY TEHIR BACK OFFFICE SENDS A DEBIT NOTE WITH INTERST @23PC.
TEHRE SI CLEAR DEFICIENCY OF SERVICE AND THEY SHOIULD RECOVER TEH COST FROM TEHRI PERSONS WHODID NOT...

My name is Junaid Imam and I have a salary account with kotak bank. One of the agent named Devendra Sing Kathait
came to my company and said that they had launched demat account for corporates which was absolutely free for one year without any account opening charges but later on a sum of rupees 750 was deducted from my account automatically. I called him up and informed him about the same but he told me that it was deducted by mistake...

It took Kotak Securities 2 years to update our new address in their system with proofs provided to them for more than two times. And now, that it is done they have charged us with interest for the same. As a result, our family account lies in debit and no one attending to our complaint...

Please pay attention, I have got something important to say. If you don't pay attention now, you'll get it all wrong later.

Kotak Securities might be suspended client’s account without any prior intimation, especially if the client has appeal at SEBI, NSE, BSE, NSDL & CDSL to help.

First of all, if you've account with Kotak Securities then you must check your contract notes and ledger regularly....

Worst Online service from kotak securities. Getting below error while opening a portfolio tracker. This is second day we are consistently having this problem. Kotak securities customer is not bothered about the complaints.

Error System Unavailable
Explanation PORTFOLIO EOD Running. Estimated time left is 100 minutes...