Folks,

I'm hoping that there are others here who use Kotak securities as their broker.
I'd recently subscribed to their 3-in-1 account and ever since I've been a little
confused about their platform.

There is margin funding and I keep getting these 'Margin Statement' from time to time. I've told them several times that I'm more of long term investor and will never be doing trades on margin. So I requested that Margin funding be disabled. They had my margin funding disabled, but I still continued to receive margin statements. When I again complained, they said something else called as 'Super multiple' was active and I had that as well disabled. However I still continued to get margin statements. Sometime later for one of my  purchases, the purchase amount including brokerage et all had overshot what I had provisioned in the account by small amount, however, instead of failing the transaction, they went ahead and did the purchase and then later sent me a mail (debtor notice) asking me to payup. (Which I did, since the amount I owed was very small).  However, the whole experience had me a little shaken since I'd typically want the transaction to fail if funds where not there in my account. Thats the whole point of getting margin funding disabled.

But it appears that there is no easy way to avoid this .. I'm a little confused if I've been setup as a trader in their platform or do these margin statements go out to every customer of theirs? Has anybody been able to setup their accounts such that they don't receive these margin statements and transactions fail when there are no funds?

Thanks.

You get additional margin based on the stocks which you held in your portfolio. you get to ful-fill this amount in 3-4 days. Please check the leader statement / or Cash Margin to know the actual amount which is available to you.

Though I agree the Kotak interface is not that easy but this facility is better then ICICI

I have not checked that much in detailed but i think aroun 18-24% after T+2 days. Similar facility exists with the reliance securities.
Those are useful facility because you always take time to transfer money from one bank to another or in some cases you want to sell one security and buy another...

since you get the margin hence you can buy first and then sell the other in two three days.... you will have to pay the intrest for one two days but you get flexibility.

After five days or so .. if you don't pay then they liquidate equivalent shares.

No. But i think with a bit of discipline you can get used to it. Always check for the Cash MArgin available in funds.

Its good facility e.g. once i wanted to buy hawkins and hence sold some shares on NSE but as hawkins was available only on BSE hence I couldn't buy it.. i had to wait for one day to buy the shares on BSE.

But yes interface is not that easy to understand.