Wednesday, October 17, 2007

Kotak Securities sinks with the markets!!

In a previous post I had wondered if Kotak would stay up if hte markets crash, that question has now been answered. It doesnt. VIsit http://kotakscam.blogspot.com/2007/10/even-before-markets-open-kotaks-down.html

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.