This Bank Now Offers Free Intraday Trading

You must have heard and may have used stockbrokers that provide you intraday trading at very low charges. For instance, Zerodha offers intraday trading at ₹20 or 0.01% of your trade value. Similarly, Upstox offers a similar pricing plan.

At the same time, there are brokers that offer monthly fixed price brokerage plans where you can buy a subscription for a month a specific price, and then you can perform trading without any worry of the brokerage.

For instance, there is Prostocks that offers a monthly subscription plan of ₹899 for Equity segment.

Learn: What is Intraday Trading? and Intraday Trading Time

Now, a bank-based stockbroker Kotak Securities has come up with an annual subscription plan that costs ₹999 for the whole year.

This plan allows you to trade at an intraday level without any dependency on the number or quantum of trades you place.

Kotak Securities expects to double its customer base in the next 18 months with this pricing plan. This also needs to be known that Kotak Securities, currently, has an active client base of 3,68,638.

It also needs to be known that bank-based stockbrokers are generally expensive in nature when it comes to the brokerage charges.

For example, for a delivery trade, the brokerage can be as high as 0.5% of your trade value, implying ₹500 per ₹1 Lakh worth of trade value.

This ₹999 plan certainly looks a differentiating factor, especially when it is coming from a bank-based stockbroker.

Let’s see how it unfolds for the broker.

In case you are looking to start trading, get started here.