Kotak Neo for options traders
Bank-backed broker with the lowest flat F&O brokerage of this list.
About Kotak Neo
Kotak Neo is the customer-facing brand of Kotak Securities Limited, the stock broking arm of the Kotak Mahindra Group, incorporated in 1994.
Kotak Securities is a subsidiary of Kotak Mahindra Bank. Its registered office is at Bandra Kurla Complex, Mumbai.
Trading is done through the Kotak Neo app and web platform. Charges depend on the plan chosen; the figures in our comparison table refer to the Trade Free plan.
| Options brokerage | ₹10 per order (carry-forward) |
|---|---|
| Equity delivery | ₹0 for 30 days, then 0.20% (Trade Free plan) |
| Account opening | ₹0 (Trade Free plan) |
| Demat AMC | ₹0 for BSDA accounts (conditions apply) |
| Platforms | Kotak Neo app and web |
| Options tools | Option chain |
| Exchanges | NSE, BSE, MCX, NCDEX, MSE |
| SEBI registration | INZ000200137 |
For options traders
- Payoff Analyzer, a free strategy analysis tool in the Kotak Neo app that shows payoff, maximum profit and loss, breakevens and Greeks before you place the strategy as a basket order.
- Basket orders from the Orders tab, built from search or a watchlist and placed together.
- Kotak Neo Trade API, free of subscription charges at present, for orders, positions, margin checks and an option chain API.
Opening an account
- Register on the Kotak Neo app or website with your mobile number and email ID, then enter your PAN and date of birth.
- Aadhaar details are fetched through DigiLocker, and the bank account is linked via UPI or entered manually.
- You add personal and nominee details, a selfie and a signature.
- The form is e-signed with Aadhaar by entering your Aadhaar number and an OTP.
Good for
- ₹10 per F&O order
- Linked to a large bank
Watch out for
- Percentage-based delivery brokerage after 30 days
- Plan conditions to read carefully
Frequently asked questions
Is Kotak Neo registered with SEBI?
Kotak Neo is a brand of Kotak Securities Limited, a SEBI-registered stock broker with registration number INZ000200137.
What does an options order cost at Kotak Neo?
On the Trade Free plan, brokerage is ₹10 per executed carry-forward F&O order, plus exchange, regulatory and tax charges.
Is the Payoff Analyzer free?
Yes. Kotak Neo states there are no charges or subscription fees for the Payoff Analyzer. It is available on the Kotak Neo app.
Is the Kotak Neo Trade API free?
Kotak Neo states the Trade API is free of cost at present, with no subscription charges.
Compare Kotak Neo
Sources (checked Mon, 2 Nov, 2026)