LKP Securities is one of the oldest stockbroking companies in India, which has laid the foundation of the entire stock market. Now, if we understand correctly, LKP Securities is a full-service stockbroking company with about 180 branches scattered all around the country.
Now, if we start talking about the main selling points of the company, we should first discuss the Brokerage fees. They charge dynamic fees for Intraday trading, which is between 0.02%, and for delivery brokerages, they charge between 0.30%.
Meanwhile, you should also know that they charge Rs. 500 per annum / Rs. 2950 for Lifetime for the AMC of the Demat accounts, and the minimum margin money is ₹10,000. On the other hand, they offer up to 5x Trading Exposure.
|LKP Securities Highlights|
|Broker Type||Full Service Broker|
|Demat Account AMC||Rs. 500 per annum / Rs. 2950 for Lifetime|
|Margin Required||75% Margin|
What do you know about LKP Securities?
To begin the discussion, LKP Securities Broker is a full-service stockbroking company established in the year 1948. It is also a public limited company that was founded by Mr. Pratik M Doshi. Mr. Doshi was a true inspiration at a time when India just acquire freedom from British rule.
Meanwhile, time has passed, and the company has grown humongous over this span. The company headquarters is still in the financial capital, Mumbai, and the company has been one of the dominant forces in western India.
However, there were ups and downs in the business, and the LKP Securities review system tells us the exact story. We will discuss that later, along with the complete review of the company in this article.
|About LKP Securities|
|Know few details about LKP Securities|
|Which type of Company is it? – Public / Private||Public|
|Which type of Broker is it? – Full Service / Discount||Full Service Broker|
|Where is the registered office of Company Located?||Mumbai, Maharashtra|
|Who is the Founder of this Company?||Pratik M Doshi|
|When did the company started?||1948|
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What are the various Demat Account Opening Charges levied by LKP Securities?
First of all, you should know that the Depository participant is only CDSL. Now, LKP Securities account opening is free of cost, when it comes to an LKP Securities Demat account. However, there is an AMC fee of Rs. 500 per annum / Rs. 2950 for a Lifetime which the traders must pay.
It is a relief that the Trading accounts are not only free to open but also without any AMC fees. While dematerialization is available, there is a minimum margin money threshold that you have to pay if you are a trader. The amount is 75% Margin. We can argue it is considerably lower than its rival companies.
|LKP Securities Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with LKP Securities|
|Which is the Depository Participant involved?||CDSL|
|What are the Demat account opening charges?||NIL|
|How much is the Demat AMC?||Rs. 500 per annum / Rs. 2950 for Lifetime|
|What is the Trading AMC?||NIL|
|What is the initial Margin amount required?||75% Margin|
|Is dematerialization available?||Yes|
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Does LKP Securities provide any Offers to their Clients?
When it comes to LKP Securities’ offers, they are, to be honest, inconsistent. While they offer a free Trading account along with its AMC, they charge a fee for opening Demat accounts. The same scenario continues for a lot of services.
On the one hand, they provide discounts on Brokerage, while on the other hand, they don’t offer Happy Trading Hours to capitalize. If you are a new trader, you will be sorry to know that, unlike some companies, they don’t provide 1-month Brokerage free trading.
They don’t offer any rebates or discounts in case you suffer a loss while trading. However, everything is not cynical about them. They provide flexible Brokerage plans and also deliver occasional Holiday offers as well. Additionally, they also have an efficient Referral Program that you can take advantage of as well.
|LKP Securities Offers|
|Here are the various offers provided by LKP Securities|
|Does the broker provide Free Demat A/C offer?||No|
|Does the broker provide Free Trading A/C offer?||Yes|
|Is this broker offers Discount on Brokerage?||Yes|
|Does the broker offer Happy hour trading to their clients?||No|
|Is the broking house provides flexible brokerage plan?||Yes|
|Does the broker offer 1 month Free brokerage?||No|
|Is the Holiday offers provided by the broker?||Yes|
|Are there any referral offers shared by the broker?||Yes|
|Zero Brokerage for Loss Making Trades||No|
What are the Brokerage Charges levied by LKP Securities on various Segments?
The LKP Securities Brokerage charges can be described as dynamic. Almost every fee they charge is not fixed. To start with, let us know the brokerage fee of Equity Delivery, which is between 0.1% – 0.5%.
Now, the diplomatic situation here is how offer they charge a fee that is closer to the lower threshold, and how much will be closer to the higher limit. Moving on, they charge between 0.01% – 0.05% for Equity Intraday, and Commodity Trading, they charge 0.01% – 0.05%. They also charge the same price range for Equity Futures as well, which is 0.01% – 0.05%.
Meanwhile, their fee structure is not dynamic. Such as for Equity Options, they charge ₹40 per lot, which is on both sides and for Currency Futures, they charge ₹15 per lot.
The same pattern continues for Currency Options as they charge ₹8 per lot, and interestingly, the minimum Brokerage they require can be customizable. Now, we have discussed a few times that LKP Securities charge Rs. 500 per annum / Rs. 2950 for a Lifetime to open a Demat account, while for a Trading account, it is free of cost.
|LKP Securities Brokerage Charges|
|Here you will find details of brokerage levied by LKP Securities on all segments|
|What are the Equity Delivery Charges?||0.30%|
|What are the Equity Intraday Charges?||0.02%|
|How much brokerage charged for Commodity Trading?||0.01%|
|What is the brokerage on Equity Futures?||0.02%|
|How much brokerage charged for Equity Options?||Rs 40 per lot|
|What is the brokerage on Currency Futures?||Rs 15 per lot|
|What is the brokerage on Currency Options?||Rs 8 per lot|
|How much is the Minimum Brokerage requires?||Customizable|
|What is the Demat AMC?||Rs. 500 per annum / Rs. 2950 for Lifetime|
|How much is the Trading AMC?||NIL|
|What is the Minimum Margin Required?||75% Margin|
Does LKP Securities levy any other charges apart from Brokerage?
If you are familiar with any stockbroking company, you should know that Brokerage fees are not the only fees that you have to pay. There are some other fees as well that you need to pay. However, these are nominal payments, and typically, it doesn’t affect the profit margin by any means.
So, the LKP Securities charges start with the Transaction Charges, which is 0.00325% of the Total Turnover. Then comes the STT charges, which is 0.0126%, again calculated on the Total Turnover. The SEBI Turnover charges are next in line, where you need to pay 0.0002% of the Total Turnover.
Now, there is a very minimal Stamp Duty fee that you need to pay. However, we can’t tell you the exact ratio as it varies from state to state in India. Finally, we have the GST fee, which is 18% standard. To calculate the cost, you need to find the amount, which is the summation of the total brokerage that you have paid along with the Transaction fees.
|LKP Securities Charges|
|Get a deep understanding of all other charges levied by LKP Securities|
|How much are the Transaction Charges levied?||0.00325% of Total Turnover|
|What are the STT charges?||
Equity Delivery: 0.1% on both Buy and Sell
Equity Intraday: 0.025% on the Sell Side
*Equity Futures: 0.01% on Sell Side
Equity Options: 0.05% on Sell Side(on Premium)
Commodity Futures: 0.01% on sell side (Non-Agri)
Commodity Options: 0.05% on sell side
Currency F&O: No STT
On Exercise transaction: 0.125%
Right to entitlement: 0.05% on sell side
|What are the SEBI Turnover charges?||0.00005% (Rs.5/Crore)|
|How much is the Stamp Duty levied?||
(On buy side only) Delivery: 0.015%, Intraday: 0.002%, Equity Futures: 0.002%, Equity Options: 0.002%, and Currency F&O: 0.0001%. Commodity Futures: 0.002%, Commodity Options: 0.002% (MCX)
|How is the GST charged?||18% on (Brokerage + Transaction Charge + SEBI Fee)|
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What is the Limit or Exposure offered by LKP Securities?
The LKP Securities Exposure is something that people usually are very disappointed in. As none of them crosses the 6x mark, they are rightfully unhappy. To start with, let us know how much they offer for Equity Delivery.
Unfortunately, it is just up to 1x. Even though they offer up to 5x for Equity Intraday, it is still nowhere close to what other companies are offering. While they offer up to 1x for Equity Options, they continue to disappoint with just up to 2x for Equity Futures.
In the case of Currency Futures, they offer merely up to 1x, and for Currency Options, they offer up to 1xf. We close this discussion with the LKP Securities Margin for the Commodity Trading, which is up to 1x. There is no doubt that this is the area that they must improve soon.
|LKP Securities Exposure or Leverage|
|Here you will find the exposure or limit provided by LKP Securities|
|How much is the limit on Equity Delivery?||1x|
|What is the limit on Equity Intraday?||Upto 5X|
|How much is the limit on Equity Futures?||1x|
|What is the limit on Equity Options?||1x|
|What is the exposure on Currency Futures?||1x|
|How much is the leverage on Currency Options?||1x|
|What is the limit on Commodity Trading?||1x|
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How to open LKP Securities Demat & Trading Account?
Before you can practically start trading, you must have three accounts. First, you must have an active bank account that is required to process funds either in or out.
Then you need to open an LKP Securities Demat account, and finally, you also need to open an LKP Securities Trading account. Here are the steps to open the Demat and Trading account, which is a composite account from LKP Securities.
- Find the “Open Demat Account” button below.
- Then, you will get an online form with very casual contact information. You need to fill-up the form and wait for the representatives to contact you.
- When they contact you, they will do some basic queries about what you are interested in and ask you to submit your KYC documents.
- Once you sent the necessary documents to complete the KYC, you need to pay ₹250, which is the Demat account opening fee.
- After they confirm your KYC and the payment you have made, they will hand over the login credentials of the platforms. Then you can access the account.
What are the various Trading Platforms provided by LKP Securities?
There are three different trading platforms that LKP Securities offer. It is time to know what they are:
LKP Securities Trading Terminal
This trading platform can simply be put together as a Desktop Application. It comes in both Windows and Mac versions. The platform has all the features it needs to serve traders with a seamless online stock trading experience.
LKP Securities Web Trading Platform
This platform is for people who like to access their accounts from multiple locations. So, it is a web browser trading platform, where you can access your account using any popular web browser. Unfortunately, this platform is not mobile responsive; therefore, it is not advisable to access it using mobile phones.
LKP Securities Mobile Trading App
So, apart from the conventional platforms, LKP Securities also offer a mobile app. Now, this app is available in both Android and iOS for complete adaptability. However, it is not available for people who still use a Windows phone or phones with such primitive OS.
|LKP Securities Trading Platforms|
|Here you will find all the important trading platforms available with LKP Securities|
|Do they have Trading Terminals for Windows?||Yes|
|Do they have Trading Terminals for Mac?||Yes|
|Are they providing Web Trading Platform?||Yes|
|Do they have Mobile Web Platform?||No|
|Does this broker provide Mobile Trading App for Android?||Yes|
|Does this broker provide Mobile Trading App for iOS?||Yes|
|Are they having Mobile App for Windows OS?||No|
|Do they have Mobile Trading App for Other OS?||No|
What are the features available in LKP Securities Trading Applications?
|LKP Securities Trading Application Features|
|Here you will find various features available in Trading Platforms provided by LKP Securities|
|Are these platforms capable of Real time Updates?||Yes|
|Do these Applications provide Portfolio Details?||Yes|
|Are this software’s providing Online MF Buy?||Yes|
|Do these platforms have News Flash?||Yes|
|Are these platforms providing Research Reports?||Yes|
|Are these platforms Easy to Install & use?||Yes|
|Do these Apps have Global Indices?||Yes|
|Are these platforms having Stock Tips?||Yes|
|Do this software’s provide Personalized Advisory?||No|
|Are these platforms capable of Interactive Chartings?||Yes|
|Do these Apps provide Live Markets data?||Yes|
|Do they provide SMS Alerts?||No|
|Are they providing Email Alerts?||Yes|
|Do these platforms has Multi Account Management solution?||No|
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What are the various Products provided by LKP Securities?
Let us begin with the LKP Securities Trading Terminal, which is the Desktop application. It has features like Real-time Updates, Portfolio Details, and Online MF Buy. At the same time, it can fetch News Flash from the stock market.
It also comes with the Easy Installation option as well. Next on this list is the LKP Securities Web Trading platform, which is the browser version. Apart from all the features that we have mentioned for the other platform, this one comes with similar features along with Research Reports, Global Indices, and Stock Tips features.
Finally, we have the LKP Securities Trading App, which is the mobile app that we have discussed before. This platform too has all the in-built features along with Interactive Chartings, Live Markets data, and Email Alerts. Meanwhile, some of the features are missing from their arsenal as well, such as Personalized Advisory, SMS Alerts, and Multi-Account Management solutions.
|LKP Securities Products|
|Here are the various products provided by it|
|Does the broker allow Equity Trading?||Yes|
|Does the broker allow Commodity Trading?||Yes|
|Do they have Currency Trading product available?||Yes|
|Do they provide Options trading?||Yes|
|Are the clients allowed to trade in Futures?||Yes|
|Do they have Mutual Funds as product?||Yes|
|Does the broker allow Forex trading?||No|
|Does the broker have Banking products?||No|
|Is SIP allowed by the broker?||Yes|
|Do they have Insurance as a Product?||Yes|
What are the various Services offered by LKP Securities?
The LKP Securities Products are lucrative, to say the least. We start the discussion with Equity Trading that they offer. Now, they have tons of experience to pull off. They also deal with Commodity Trading and well-crafted Currency Trading products.
To add to that, they deal with Options trading, while the clients are also allowed to trade in Futures. One of the significant products that they deliver is their Mutual Fund, which has some profitable features in them.
The two distinct services that they don’t deal with are Forex trading and any services related to Banking activities. Meanwhile, they have expert SIP service and well-curated Insurance plans.
|LKP Securities Services|
|Check out the various services provided by it|
|Does the broking house provide Demat Services?||Yes|
|Does the broking house provide Trading Services?||Yes|
|Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C?||No|
|Do they provide Intraday Services?||Yes|
|Are they offering IPO Services to the client?||Yes|
|Do they have Stock Recommendations available?||Yes|
|Are they providing tools for Robo Advisory?||No|
|Does the broker provide PMS?||Yes|
|Do they have Trading Institution available?||No|
|What is the Trading Exposure this broker provides?||Upto 5X|
Does LKP Securities provide Research & Advisory to their clients?
We can start the LKP Securities services conversation with their Demat and Trading account services. They offer free AMC for both services. However, they don’t provide 3-in-1 accounts, which comprise a Demat, a Trading, and a Savings account.
Now, about their services; they offer fantastic Intraday services, which follow perfectly with their IPO services to their respective clients. While the Robo Advisory service is missing, they compensate brilliantly with their Stock Recommendations and PMS services. Meanwhile, they are not a certified Trading Institution, and they offer just up to 5x Trading Exposure.
|LKP Securities Research, Advisory & Stock Tips|
|Here are the various research activities done by it|
|Does the broker share Fundamental Reports?||Yes|
|Does the broker share Research Reports?||Yes|
|Do they provide Company Reports to their clients?||Yes|
|Are they analyzing the Annual Reports of Companies?||Yes|
|Do they share Company Stock Reviews?||Yes|
|Are they sharing Free Stock Tips with their clients?||Yes|
|Do they analyze & share IPO Reports?||Yes|
|Does the broking company provide Top Picks?||Yes|
|Are they sharing Daily Market Review?||Yes|
|Do they have Monthly Reports?||Yes|
|Does the broker provide Weekly Reports?||Yes|
|Are they having Offline Advisory?||Yes|
|Do they provide Relationship Manager to clients?||Yes|
What are the Customer Care details of LKP Securities?
LKP Security’s customer care service is spread across India through its 180 branches. They deliver services to their beloved clients using Dedicated Dealers. Now, if we talk about their service, they offer both Online and Offline services to their clients, which is a 24×7 support service.
This is something that very few companies provide. Even though they don’t have dedicated Chat Support, Email Support is backed by a quality team, which helps their clients to resolve problems quickly.
|LKP Securities Customer Support|
|Let’s have a better understanding of Customer Care Service|
|Are they providing Dedicated Dealer to their clients?||Yes|
|Do they allow Offline Trading?||Yes|
|Do they have facilities for Online Trading?||Yes|
|Are they providing 24*7 Support?||Yes|
|Does this broker provide Email Support?||Yes|
|Is this broker having Chat Support?||No|
|How many Branches the stock broker has?||180|
Are there any Complaints filed against LKP Securities by their clients?
Before we start analyzing the reasons why there are so many complaints issued against them, we must consider the fact that LKP Securities is a 70-year-old company. So, naturally, people are bound to have some grievances over the years.
Now, having said so, there are precisely 128 complaints filed against them from the BSE, and from the NSE, that number climbed to 196. This is indeed a lot of complaints! However, one positive side is all the LKP Securities complaints have been dealt with, which suggests they are good at cleaning up their mess.
|LKP Securities Complaints|
|Here you will know about the Complaints lodged against it|
|What is the total number of Complaints Lodged in BSE?||128|
|How many of these complaints have been Resolved in BSE?||128|
|What is the total number of Complaints Lodged in NSE?||196|
|How many of these complaints have been Resolved in NSE?||196|
What are the advantages & benefits of LKP Securities Trading accounts?
If you are seriously considering opening an LKP Securities Trading account, it would be best if you know both the advantages and the disadvantages of opening an account. First off, they are experienced.
You will be going to get an edge while you are trading. They have some beneficial products and services that you can select from, and their Research & Advisory services are top-notch.
However, often, people criticize their trading platform, and the Trading Exposure they offer is simply not acceptable in today’s world. Now, you must understand, no company is perfect, so know your priorities and choose wisely.
What are the LKP Securities Review & Ratings as per their Customer?
To start the LKP Securities rating, you should know they have poor reviews in their overall experience and Brokerage fees. While they have got their best scores in Products & Services, their trading platforms have been heavily criticized.
The LKP Securities review is incomplete without discussing its Research & Broking Advisory, which has received mixed ratings. Overall, they have been rated just 5.1 out of 10, which is indeed unfortunate.
|LKP Securities Ratings & Reviews|
|We are looking at Companies Ratings on various parameters|
|Stock Market Research & Broking Advisory||5.4/10|
|Brokerage & other Charges like – Turnover, Transaction Charges etc.||5.3/10|
|Types of Products & Services the Brand provides||6.4/10|
|Performance Mobile App, Trading Terminal & Web Trading Platform||5.2/10|
|Experience in the Broking Business||4.2/10|
|Total Avg. Rating of Broking House||5.1/10|
|Star Rating of given to Stock Broker||★★★☆☆|
|Number of People Contributed to these Ratings||226|
So, we have nearly come to the end of analyzing the Mumbai-based stocking company, LKP Securities. Now, we have seen their ratings, and they are really poor. Unfortunately, that doesn’t tell us the full story.
That doesn’t recite their struggle stories of 70 years. But we have to settle down to the fact that the company is a bit volatile now, and even though there is hope for them to turn around, it would be not wise to put faith in them. However, if you believe in the service, they offer is genuine, we will suggest you do so.
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