HYDERABAD: Kotak Securities Ltd (KSL) launched Free Intraday Trading to ensure that retail investors trading in small amounts do not feel the pinch of brokerage.
As the online discount brokerage platforms are trying to attract retail and young investors with their brokerage-free model, Kotak’s new feature comes as a first such step by a traditional big stockbroker. “Kotak has been a market leader in mass affluent, HNI, ultra HNI investors segments as many invest through our platform, but we are not as large in retail investors segment.
We aim to increase the number of retail investors in a large way on our platform, through Free Intraday Trading. We are confident that this new feature will give us an appreciable amount of growth in the retail customer base and also double our overall customer base. We have about 16 lakh customers investing through our platform right now, and we are planning to double that number to 32 lakh over the next 18 months. Retail customers, who trade regularly through online, will greatly benefit from Free Intraday Trading,” said Kamlesh Rao, MD & CEO, Kotak Securities Ltd.
Kotak’s Free Intraday Trading offers investors freedom from brokerage on intraday trades across cash, future and options segments at an annual subscription of Rs 999.