Kotak Securities introduced the Trade Free Pro plan designed for traders using its Kotak NEO and Kotak Stock Trader platforms. This comprehensive subscription plan includes the Pay Later feature, also known as Margin Trading Facility (MTF), with an annual interest rate of 9.75%. Traders can access over 1000 stocks and potentially increase their buying capacity by up to four times.
Additional notable aspects of the Pay Later feature include an unrestricted holding period, the option to utilise shares and ETFs as collateral instead of cash for establishing positions, and access to Margin Trading Facility (MTF) research recommendations.
Jaideep Hansraj, MD & CEO, Kotak Securities, said, “Listening to our clients’ needs has been pivotal in shaping our journey. Understanding the increasing demand for the Pay Later facility propelled us to introduce the Trade Free Pro plan. We are excited to offer the plan at an affordable interest rate of 9.75% per annum, aligning with our commitment to empower traders with what they seek. We are dedicated to continuously evolving our offerings to ensure that we remain the go-to brand for investors and traders in India.”
Ashish Nanda, President and Head – Digital Business, Kotak Securities, said, “Our clients’ needs are at the heart of our offerings at Kotak Securities. The introduction of the Trade Free Pro plan responds directly to the growing popularity of margin trading facilities in the industry. With the launch of this plan at a low interest rate of 9.75% per annum, we are fulfilling our commitment to our clients’ trading aspirations.”
Recognising that a one-size-fits-all approach may not be suitable for every user, the company has unveiled the Trade Free plan, Trade Free Youth plan, and Trade Free Pro plan for traders on the Kotak NEO Platform.
The Trade Free plan was designed with the primary feature of zero brokerage on all intraday trades, catering to traders seeking cost-effective options. The Trade Free Youth plan ensures individuals under 30 enjoy guaranteed zero brokerage across different segments. Now, the Trade Free Pro plan targets the MTF users, providing them with a competitive funding option at one of the industry’s lowest interest rates. For a funding amount of Rs10,000, the interest totals less than ₹3 per day (9.75% per annum).
Investors and traders gain additional advantages through complimentary access to various services and features, including trade APIs, the NEST terminal, equity screeners, payoff analyzer, daily short-term and long-term research recommendations, and other valuable resources.
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Published: 24 Jan 2024, 06:27 PM IST
