The best part about having your trading account with Kotak Securities is the fact that nothing is really in your hands. Even before the markets crashed, the Kotak Securities trading portal crashed. When the markets recovered, however, the Kotak Securities site was still recovering. You keep getting an "iIM module not found error". In the meantime, KOtak happily found time in which, instead of fixing the portal they were busy resetting client margins, removing the super multipliers, and emailing customers telling them to deposit money into their accounts else Kotak would close their positions. THey actually had a big banner in "Kotak" red that hurt the eyes announcing the same (see screenshot). Attached is a screenshot from today where the markets are recovering and so is Kotak. Unfortunately, the markets recover faster... We are up 1000 points of 1700 lost earlier, but Kotak Customers are still 16 minutes away from their first trade. Much to their chagrin, Kotak still lets them see the markets that go up while they watch.
I highly Reliance Money.http://www.reliancemoney.com/ who did not go down at any point in the trading of the day.
4 comments:
This is the email i have forwared to the top brass at kotak:
Dear Mr.Uday Kotak/Bina Chandarana
I am extremely disappointed with the unavailability of the online trading system at important times.
The exchange link was down today morning [17/10/2007] and yesterday afternoon[16/10/2007]. This is unacceptable level of service being provided by Kotak Securities. I am not sure if this was on purpose or a pure technical glitch.
Therefore, I am reporting the matter to SEBI to investigate this issue further.
Also, I find that the Company Research which I am assuming is being sourced through third party [Asian CERC] is extremely slow during trading hours.
Another important aspect is the background processes that run before and after trading hours. I do not understand as to why the system is inaccessible during these times when people need to make important calls regarding their trades at such times.
I have decided not to recommend Kotak Securities any further and I will think of moving to another online brokerage house in the immediate future with satisfactory levels of system availability.
To prevent other people from suffering through hands of kotaksecurities.com I have decided to publicly air my views on reference web sites like www.MouthShut.com and www.Orkut.com
Kind Regards
XXXX
PS: Can somebody please suggest me a good online trading brokerage with streaming quotes?
Kotak Mahindra Bank has fraud banking services.
Rs. 800+ charge for other ATM Withdraws.
10000+ Charge for not maintaining a minimum balance.
1000+ for delayed credit card payments.
One Purchase= Service Tax+Conversion Charge+Interest Charge+Actual MRP….
Close all your accounts of Kotak Mahindra Bank…
#Kotak #Mahindra #Bank has fraud business services in all sectors. Debit Cards and Debit Cards. They charge more money than actually, they deserve. I have been paying lot more than what I took from them. I feel it is better to take money from individual brokers than Kotak Mahindra Bank. Their fraud business should be closed immediately to save poor people from being robbed by this fraud bank. Worst Banking Services. And Wost Credit Card Services. They don't even convert purchases to EMI even after asking them twice.
Kotak Mahindra Bank has fraud banking services.
Rs. 800+ charge for other ATM Withdraws.
10000+ Charge for not maintaining a minimum balance.
1000+ for delayed credit card payments.
One Purchase= Service Tax+Conversion Charge+Interest Charge+Actual MRP….
Close all your accounts of Kotak Mahindra Bank…
#Kotak #Mahindra #Bank has fraud business services in all sectors. Debit Cards and Debit Cards. They charge more money than actually, they deserve. I have been paying lot more than what I took from them. I feel it is better to take money from individual brokers than Kotak Mahindra Bank. Their fraud business should be closed immediately to save poor people from being robbed by this fraud bank. Worst Banking Services. And Wost Credit Card Services. They don't even convert purchases to EMI even after asking them twice.
Kotak Mahindra Bank has fraud banking services.
Rs. 800+ charge for other ATM Withdraws.
10000+ Charge for not maintaining a minimum balance.
1000+ for delayed credit card payments.
One Purchase= Service Tax+Conversion Charge+Interest Charge+Actual MRP….
Close all your accounts of Kotak Mahindra Bank…
#Kotak #Mahindra #Bank has fraud business services in all sectors. Debit Cards and Debit Cards. They charge more money than actually, they deserve. I have been paying lot more than what I took from them. I feel it is better to take money from individual brokers than Kotak Mahindra Bank. Their fraud business should be closed immediately to save poor people from being robbed by this fraud bank. Worst Banking Services. And Wost Credit Card Services. They don't even convert purchases to EMI even after asking them twice.
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