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3.0 6 Reviews

Kotak Securities Complaints Summary

3 Resolved
3 Unresolved
Our verdict: While Kotak Securities has an above-average resolution rate, there’s room for improvement. Investigate common issues reported by customers and understand how they were resolved. Be prepared to follow up on your queries if needed, and keep detailed records of all interactions.
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Kotak Securities reviews & complaints 6

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ComplaintsBoard
A
12:54 pm EDT
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Kotak Securities Email Harassment by Kotak Securities

At the offset let me clarify, my name is Anand S from Chennai and iam in noway connected with services of M/s Kotak Securities

My complaint against M/s Kotak Securities, is that they are sending to my email ID contract notes/margin statements which is supposed to reach one of their customer by name Anand Sankar Agarwal to my email id anand.[protected]@sify.com.

I have represented this written mail to them 3 times in last 5 months, stating that anand.[protected]@sify.com email id belongs to me and they are wrongly addressing one Anand Sankar Agarwal to my email address, provided details provided below

1. First representation Vide email to kotak securites, they acknowledged it with Ref SR No:1-[protected] dt 12/05/2011. No action was taken, on my reminder mail they just replied stating regret the inconvenience and i need to "bear" with that and simply ignore such mails, till they look into it !

After this also I continued getting mails addressed me as "Anand Sankar Agarwal" and this continued on daily basis !

Please note - contract note/margin statements is an important document to a shares customer and just see how secured is Kotak in delivering to wrong email addresses ! Just imagine how much secured is their system and process ?

2. Follow-up representation Vide email to kotak securites, they acknowledged it with Ref SR No:1-[protected] dt 04/10/2011. No action was taken, on my reminder mail they just replied standard reply stating regret the inconvenience and i need to "bear" with that and simply ignore such mails, till they look into it and rectify !

Till today morning iam getting unwarranted contract notes/margin statements.

Kindly help me resolve this throu your forum and its frustrating to further remind to such unprofessional group like M/s Kotak Securities!

Read full review of Kotak Securities and 2 comments
Update by anandsarathy
Oct 21, 2011 6:02 am EDT

Dear Kotak team

"anand.s@sify.com" mail id belongs to myself and its surprising that you mention stating your client doesn't want to change it ? How can your client decide to have my email ID as contact point ? Are you guys taking me for granted and my email privacy ?

This is not a resolution, please be serious in taking immediate corrective action...

Regards
Anand S

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Kotak Securities
, IN
Oct 24, 2011 2:21 pm EDT

Dear Anand,

Please be assured that we have taken this matter on top priority and it will be resolved at the earliest.

Regards,
Team Kotak Securities

K
K
Kotak Securities
, IN
Oct 21, 2011 5:57 am EDT

Dear Anand,

We deeply regret the inconvenience caused. After you first pointed this out, we have been constantly in touch with the said client. However, he insists that this is the e-mail id he wants to use. Neither does he want to change it nor close it. At Kotak Securities, we follow high standards of client and account confidentiality. And we also respect our clients’ wishes. Please be assured that this matter will be resolved at the earliest.

Regards,
Team Kotak Securities

ComplaintsBoard
S
11:33 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Kotak Securities FRAUDELENT BROKERAGE CHARGES

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.
KOTA SEC HAVE ' HIDDEN'' EXTRA CHARGES, OTHER MINIMUM CHARGES APPLICABLE WHICH ARE NOT DISCLOSED TO CUSTOMERS.
TRADING CLIENTS ONLY DISCOVER SAME, AFTER PARTICULAR TRADES DONE AND SURPRISED TO RECVE BROKERAGE CHARGES
NOT STATED / PRINTED IN EARLIER PLAN'S SHOWN BY KOTAKSEC.
AFTER RECEIVING CLIENT COMPLAINTS, KOTAK SEC FORWARDS THE HIDDN CHARGES GIVEN IN '' S M A L L PRINT '' .

BEWARE ! BEWARE !

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Ahmedabdullah
, IN
Nov 28, 2011 4:53 pm EST
Verified customer This comment was posted by a verified customer. Learn more

Is it true that kotak securities hides brokerage charges .. Can you point out which website is better sharekhan or kotak-securities.

K
K
Kotak Securities
, IN
Jul 25, 2011 1:23 pm EDT

Dear Purab,

We are here to help you. Please do share your contact details and customer ID on ks.escalation@kotak.com so we can understand and address your concern at the earliest.

Regards,
Team Kotak Securities

ComplaintsBoard
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10:42 am EST
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Kotak Securities frauding

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 and the amount would be credited in my account within a week but its more than a month and no nothing has been done as yet. I would really appreciate if you'll could help,
thanks.
Name- Junaid Imam
Demat A/C No- [protected]
Mail Id- [protected]@gmail.com

Bank Address
kotak mahindra bank
New Friends Colony
Bharat Nagar
Okhla
N.Delhi

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Customer Service Kotak Securities
, IN
Feb 14, 2011 11:40 am EST

Dear Junaid,

This response is from Kotak Securities.

Your account opening fee has been waived off.
We regret for the inconvenience and take this as an opportunity to thank you for your feedback.
In case of any further queries mail us at ks.escalation@kotak.com

Regards,
Kotak Securities

Is Kotak Securities legit?

Our verdict: Kotak Securities has achieved a rare feat of perfection in legitimacy, as per the rigorous analysis conducted by Complaints Board. This achievement underscores Kotak Securities's position as a benchmark of trust and quality within its industry. Users and clients of Kotak Securities can engage with its offerings, confident in the knowledge that they are dealing with a top-tier, fully legitimized company.

Kotak Securities earns 100% level of Trustworthiness

Perfect Trust Endorsement: Kotak Securities achives 100% ligitmacy per Complaints Board. Highly recommended, yet always stay vigilant.

We found clear and detailed contact information for Kotak Securities. The company provides a physical address, 4 phone numbers, and email, as well as 3 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.

Kotaksecurities.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.

We looked up Kotak Securities and found that the website is receiving a high amount of traffic. This could be a sign of a popular and trustworthy website, but it is still important to exercise caution and verify the legitimacy of the site before sharing any personal or financial information

Kotaksecurities.com regularly updates its policies to reflect changes in laws, regulations. These policies are easy to find and understand, and they are written in plain language that is accessible to all customers. This helps customers understand what they are agreeing to and what to expect from Kotak Securities.

However ComplaintsBoard has detected that:

  • The registrar associated with Kotak Securities has been found to be used by several spammers and scammers, which could indicate a potential threat to users.
  • We conducted a search on social media and found several negative reviews related to Kotak Securities. These reviews may indicate issues with the company's products, services, or customer support. It is important to thoroughly research the company and its offerings before making any purchases to avoid any potential risks.
  • Kotak Securities offering cryptocurrency services, it is important to be aware of the potential risks involved. Cryptocurrency transactions can be anonymous and irreversible, making them a prime target for scammers and fraudsters.
ComplaintsBoard
C
5:21 am EDT

Kotak Securities Back Office Staff is non supportive to ordinary clients and is like personal secretary to manager

Far from being in the mourning, for the losses of the client, employees of Kotak Securities Branch Amritsar, rejoice at the idea of spending the evening taking tea, watching ladies at the tea stall, right in front of ebony, central mall, Mall road, amritsar, rather doing usual boring work. i.e working/researching hard to serve clients with renewed zeal are the things of the past. Nobody in the office regrets the loss of money and time of the clients. Even when in office, employees are not exactly known for helping out the needy. Office procedures are so complicated, paper work is so extensive and corruption so rampant that an ordinary client shudders whenever forced to deal with the office.

On Saturdays, no ordinary client is ever appreciated as they are ready to go home as and when manager leaves the office. Manager himself is ready to leave at any given point of time, may be he has been advised to save office electricity and other expenses in this fashion. Moreover office opens at 11am, manager comes at 12:15noon and goes out at 13:01 and never comes back and office closes at 14:00.

Back Office Staff is non supportive to ordinary clients and is like personal secretary to manager. There are hundreds of complications and paper work for ordinary clients but, only after a single nod of manager, work is deemed to be done. Nine out of ten times Either paper or ink of printer is finished Or she is out of office to take tea with neighbor friend.

Other Members of Staff are so irresponsible and their sitting system is like one employee use to sit on stool and other one use to sit on big fat chair and ordinary client have to find chair with all wheels and proper height. To fulfill their own brokerage targets, bonus, incentive, they make their own tips other than parachart and induce clients in the trade by speaking loud and cry. Also they have opened the accounts of their MAMAJI’s, in which they use to make their own trades.

There are No Facilities of assessing sites linked to share market. No back up facility. No facility to cross checks the tips given in kotak parachart with other technicians. No basic facilities like tea, coffee, snacks. Pantry is for employees only. Employees are use to eat; drink during market hours irrespective of any loss which may happen to any client. Whenever a complaint is made to manager, no action is taken but only sweet pills are given to ordinary clients. Senior managers’ use to come at Amritsar branch but no one has ever pointed out about their attigates, behavior since they also have no interest in these things, perhaps money is there only priority. There is no newspaper stand. Newspaper is only for increasing prestige of the manager’s room. There is no recreation facility for clients as well as for employees as they say “All work and no play make jack a dull boy”

Transfer of Money to other banks except KMB is not possible since systems are of old standards. No employee knows the full form of RTGS or other payment gateways. Other brokerages like Indiabulls or motilal have multiple payment gateways with maximum banks to facilitate payment to the clients. Rather payment by cheque is the only alternate which takes at least three days to come. There is no provision for online IPO system. No provision for ASBA.

There is No Other Way To Communicate the problems to the higher authorities since manager has locked his room to have private talking on phone to girlfriends or else and ordinary client has to wait long enough to frustrate himself and make his way to other brokerages. It is only when people start quoting from SEBI directives and start complaining to the regulator about violations that brokerages will be forced to mend their ways, comply with SEBI circulars and respect the rights of investors/clients. The SEBI should audit compliance by brokerages of its directives, rate them accordingly and make it public.

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karthic srinivasan
, US
Mar 21, 2016 2:25 am EDT

Hi all,
Don't believe advisors in Kotak Securities who advised to invest in stocks mainly they focussed you to do a intraday(Daily) trading.
I suffered huge loss within a month due to this daily trading.
we cannot make profit without predicted analysis of stock.
So never ever go for daily trading and dont believe advisors
They always forced you to do trading because they never bothered about your profit or loss.They put brokerage from yourself for both buying and selling of stocks.

Its a very very worst service.
Regards,
Karthic

ComplaintsBoard
R
11:29 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Kotak Securities False commitments and hefty charges

Hello
I am owning a Kotak Demat account sincxe last six month and I was promised a Brokerage of rate of .6 Rs Deliverable and 3 paisa intraday.
I was also promised that my 750 Rs account opening charges will also be reverted.
But as usual all this turned out as fake, I constantly followed them but all in vaid.
Now its more that 4 months and they hav'nt reveretd back. My current brokerage is 1 Rs for Deliverable and .5 For intra day.
Now my brokers don't even attend my calls.
I faced a disgusting service from Kotak Securities.

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2:39 pm EDT
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Kotak Securities No refund

I paid Rs 3500/- to Kotak Securities Limited, Vishakhapatnam by cheque (SBI, prashantnagar, Hyderabad).
This company could not open my demat account properly.
I want my my money back.

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Contact Kotak Securities customer service

Phone numbers

1800 209 9191 1860 266 9191 More phone numbers

Website

www.kotaksecurities.com

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