SBICAP Securities (often called “SBI Securities”) and Kotak Securities are two of India’s prominent full-service stock brokers backed by major banking groups. Both offer a comprehensive product suite, 3-in-1 account integration (bank + trading + demat), research support, and advanced trading platforms.
In this article, we compare SBICAP Securities Vs Kotak Securities across company background, products, charges, platforms & features, research & advisory, pros & cons — so you can decide which best aligns with your investment style and cost sensitivity.
Table of Contents
SBICAP Securities Vs Kotak Securities: Company Background
SBICAP Securities: A subsidiary of the State Bank of India (SBI) group, SBICAP Securities provides full-service broking across equity, derivatives, mutual funds, and more. The broker leverages the SBI brand strength and wide branch/distribution network. SBICAP Securities offers online trading plus traditional branch support.
Kotak Securities: A subsidiary of Kotak Mahindra Bank, is a full-service stockbroker offering 3-in-1 accounts (Bank, Trading, and Demat). The company operates through 150+ branches and 1,300+ franchisees in over 360 cities across India.
| Particular | SBICAP Securities | Kotak Securities |
|---|---|---|
| Broker Type | Full Service | Full Service |
| Parent Bank | State Bank of India | Kotak Mahindra Bank |
| Founded | 2001 | 1994 |
| Branches | 117+ | 153+ |
| Active Clients | 1,047,604 | 1,443,751 |
| Exchange Membership | BSE, NSE | BSE, NSE, MCX, NCDEX |
Product Range and Investment Options
SBICAP Securities: Offers equities (delivery & intraday), equity futures & options, currency, mutual funds, IPOs, bonds, and other investment vehicles. For example, under its “ProZero” plan, it mentions zero brokerage for F&O intraday and a flat charge of INR 20 for carry-forward trades.
Kotak Securities: Provides equity cash (delivery & intraday), equity derivatives (futures & options), currency & commodity derivatives, mutual funds, IPOs, global investing (in certain plans), margin trading facility (MTF), research & advisory support. It also introduces flat-fee plans like “Trade Free”.
SBICAP Securities Vs Kotak Securities Charges
- SBICAP Securities Vs Kotak Securities Account Opening & AMC Charges
Both brokers allow free trading/demat account opening, but Kotak Securities’ DP Charge is higher.
| Charge Type | SBICAP Securities | Kotak Securities |
|---|---|---|
| Trading Account | Zero | Zero |
| Demat Account | Zero | Zero |
| Demat AMC Charges | INR 750 Per Year | INR 300 Per Year |
| DP Charges (Sell) | INR 21 Per Scrip | INR 20 Per Scrip |
- SBICAP Securities Vs Kotak Securities Brokerage Charges Plan 1
| Particulars | SBICAP Securities (Suvidha) | Kotak Securities (Trade Free) |
| Equity Delivery | 0.50% | 0.20% |
| Equity Intraday | INR 20 per order | INR 10 per order or 0.05%, whichever is lower |
| Equity Futures | 0.05% | INR 10 per order |
| Equity Options | INR 50 per order | INR 10 per order |
| Currency | INR 100 per order | INR 10 per order |
| Commodity Futures | NA | INR 10 per order |
| Commodity Options | NA | INR 10 per order |
| Call & Trade Charge | First 30 calls free, later INR 10+ per call | First 20 calls free, later INR 15 per call |
| Minimum Brokerage | INR 10 per order | INR 20 per order |
| P&L/CMR Charges | 0.01% | Zero |
Also Read: Top Stock Brokers in India 2024
- SBICAP Securities Vs Kotak Securities Brokerage Charges Plan 2
| Particulars | SBICAP Securities (PRO 749) | Kotak Securities (Trade Free Youth) |
| Equity Delivery | 0.35% | 0.10% |
| Equity Intraday | INR 20 per order | INR 10 per order or 0.05%, whichever is lower |
| Equity Futures | 0.02% | INR 10 per order |
| Equity Options | INR 20 per order | INR 10 per order |
| Currency | INR 20 per order | INR 10 per order |
- SBICAP Securities Vs Kotak Securities – Transaction Charges
| Particulars | SBICAP Securities | Kotak Securities |
| Equity Delivery | NSE: 0.00297%, BSE: 0.00375% (Both Buy & Sell) | NSE: 0.00297%, BSE: 0.00375% (Both Buy & Sell) |
| Equity Intraday | NSE: 0.00297%, BSE: 0.00375% (Both Buy & Sell) | NSE: 0.00297%, BSE: 0.00375% (Both Buy & Sell) |
| Equity Futures | NSE: 0.00173%, BSE: Zero (Both Buy & Sell) | NSE: 0.00173% l BSE: Nil |
| Equity Options | NSE: 0.03503% | BSE: 0.0325% (on premium) | NSE: 0.03503% | BSE: 0.0325% (on premium) |
| Currency Futures | NSE: 0.00035%| BSE: 0.00045% | NSE: 0.00035%| BSE: 0.00045% |
| Currency Options | NSE: 0.0311%| BSE: 0.001% | NSE: 0.0311%| BSE: 0.001% |
| Commodity Futures | – | 0.002% |
| Commodity Options | – | 0.002% |
| SEBI Turnover Charges | INR 10/crore | INR 10/crore |
| Pledging Charges | INR 25 per scrip | INR 20 per scrip |
| Auto Square off Charges | INR 40 + GST per order | INR 49 + GST per order |
| API Subscription Charges | Zero | Zero |
Read Also: ICICIdirect Vs HDFC Securities: Full Service Broker Comparison
- SBICAP Securities Vs Kotak Securities Leverage (Margin)
Kotak Securities’ margin for intraday trading is up to 20% of the trade value (5x leverage) based on the stock, whereas the SBICAP Securities margin for intraday cash is also up to 20% of the trade value (5x leverage) based on the stock.
Kotak Securities Vs SBICAP Securities: Trading Platforms & Features
| Feature/Platform | Kotak Securities | SBICAP Securities |
|---|---|---|
| 3-in-1 Account | Yes | Yes |
| Mobile App | Yes | Yes |
| Desktop Terminal | Yes (KEAT ProX, Neo) | Yes (SBISmart Xpress) |
| Web Trading | Yes | Yes |
| Algo Trading | Yes | Yes |
| Global Investing | Yes | Yes |
| Basket Trading | Yes | No |
| Research & Reports | Yes | Yes |
SBICAP Securities Vs Kotak Securities – Pros and Cons
| Kotak Securities | SBICAP Securities | |
| Pros | 1. Attractive flat-fee and zero-brokerage Neo/Youth plans. 2. 3-in-1 account convenience with Kotak Mahindra Bank. 3. Fast, modern trading platforms and tools. 4. Good customer support with 24×7 online help (Neo plan). | 1. Offer a 3-in-1 account for seamless transactions.. 2. Full-service broker offering services online as well as through branches. 3. Wide range of investment options. 4. Free research reports are available. |
| Cons | 1. Zero brokerage is mostly limited to youth or new accounts. 2. Account plan switching fees apply. 3. Branch network smaller than ICICI. 4. Margin funding charges can surprise new users. | 1. Installable Trading Terminal (exe) is not available for frequent traders. 2. Good Till Cancelled (GTC) orders are not available. 3. Very high brokerage. 4. Commodity (MCX) trading is not available. |
Conclusion
Both SBICAP Securities and Kotak Securities offer strong full-service brokerage solutions backed by large banking groups, and provide ample product choices, research support, and integrated account features.
If you are a cost-sensitive trader (especially intraday/F&O) and prefer flat-fee simplicity with modern platforms, Kotak Securities is very compelling. On the other hand, if you prefer strong branch support, long-term bank-broker integration, and possibly promotional zero-brokerage for certain trades, then SBICAP Securities could be a good fit.
SBICAP Securities Vs Kotak Securities FAQs
Which broker is better — Kotak Securities or SBICAP Securities?
If you’re focused on low-cost trading and modern platforms, go with Kotak Securities. If you prefer strong bank integration, branch support, and a traditional full-service experience, opt for SBICAP Securities.
Which broker offers lower brokerage charges?
Kotak Securities offers lower brokerage charges with INR 10 per order in most segments, while SBICAP Securities charges higher percentages on trades.
What is the Kotak Securities AMC charge?
Kotak Securities AMC charges stand at INR 300 Per Year + GST (18%).
What is the SBICAP Securities market share?
SBICAP Securities has a market share of 2.22%
What is the Kotak Securities market share?
Kotak Securities has a market share of 3.06%