Anand Rathi vs Kotak Neo
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Anand Rathi
VS
Kotak Neo
Anand Rathi vs Kotak Neo — quick verdict
Choose Anand Rathi if
You want research and offline support
Powered by Trust. Driven by Research.
Choose Kotak Neo if
You want research and offline support
One of India's oldest stock broking companies, offering full-fledged investment services across asset classes through a single-login platform.
Company overview
Anand Rathi is a full-service broker incorporated in 1994; Kotak Neo is a full-service broker incorporated in 1994.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Type of broker | Full-Service Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX · NCDEX · MSEI | NSE · BSE · MCX |
| Year of incorporation | 1994 | 1994 |
| Number of branches | 1,200+ | 1,500+ Branches & Customer Touchpoints wider |
| Active clients | 6 Lakh+ | 15+ Lakh (Approx.) larger |
Charges & AMC
Account-opening and maintenance charges for Anand Rathi and Kotak Neo compared side by side.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹450 + GST per year | As per applicable tariff plan |
| DP charges (per ISIN, sell) | ₹15.93 per debit transaction (including GST) | ₹13.5 + GST per debit lower |
Brokerage charges
How Anand Rathi and Kotak Neo price each trading segment, per executed order.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Equity Delivery | 0.30% | ₹0 (Free) |
| Equity Intraday | 0.03% | ₹20 or 0.03% (lower) |
| Equity Futures | 0.03% | ₹20 or 0.03% (lower) |
| Equity Options | ₹20 per executed order | ₹20/order |
| Currency F&O | 0.03% | ₹20 or 0.03% (lower) |
| Commodity F&O | 0.03% | ₹20 or 0.03% (lower) |
| Call & Trade | ₹20 per executed order | +₹50/order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Anand Rathi and Kotak Neo, per segment.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Equity Delivery | NSE: 0.00297% • BSE: 0.00375% | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) |
| Equity Intraday | NSE: 0.00297% • BSE: 0.00375% | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) |
| Equity Futures | NSE: 0.00173% | NSE ₹173 per Crore (0.00173%) | BSE ₹173 per Crore (0.00173%) |
| Equity Options | NSE: 0.03503% (on premium) | NSE ₹3,503 per Crore of premium (0.03503%) | BSE ₹3,250 per Crore of premium (0.0325%) |
| Currency Futures | NSE: 0.00035% | NSE ₹35 per Crore (0.00035%) | BSE ₹35 per Crore (0.00035%) |
| Currency Options | NSE: 0.03110% (on premium) | NSE ₹3,100 per Crore of premium (0.0311%) | BSE ₹1,000 per Crore of premium (0.01%) |
| Commodity Futures | MCX: 0.00210% | MCX ₹260 per Crore (0.00260%) |
| Commodity Options | MCX: 0.04180% (on premium) | MCX ₹5,000 per Crore of premium (0.05%) |
Demat & DP charges
Depository (demat) charges for Anand Rathi and Kotak Neo — AMC, debit transactions, pledging and remat.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Demat Account Opening | ₹0 | — |
| Annual Maintenance Charges (AMC) | ₹450 + GST per year | — |
| Debit Transaction Charges | ₹15.93 per debit transaction (including GST) | — |
| Pledge / Unpledge Charges | ₹25 + GST per request | — |
| Dematerialisation (Demat) | ₹150 per certificate + GST | — |
| Rematerialisation (Remat) | ₹150 per certificate + GST | — |
| Failed Transactions | Nil | — |
| Demat Opening | — | ₹0 |
| Transaction Charges | — | ₹13.5 + GST |
| AMC | — | ₹300 + GST |
| Pledge | — | ₹30 + GST |
| Remat | — | ₹150 + GST |
| Nil | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Anand Rathi and Kotak Neo.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | VAR + ELM Margin (Up to 5x*) | As per SEBI peak margin norms (Up to 5x (eligible stocks)) |
| Equity Futures | SPAN + Exposure Margin (As per available margin) | SPAN + Exposure Margin (1x) |
| Equity Options (Buy) | Premium Value (Not Applicable) | — |
| Equity Options (Sell) | SPAN + Exposure Margin (As per available margin) | — |
| Currency Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
| Commodity Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
Features & account
Account type and feature availability across Anand Rathi and Kotak Neo.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| 3-in-1 account | ✕ No | ✓ Yes better |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API |
| Intraday square-off | 3:15 PM | 3:15 PM |
| Other | Research Reports, Trading Calls, Advanced Charting, Option Chain, Basket Orders, Price Alerts, eDIS, Margin Trading Facility (MTF), PMS, AIF, Wealth Management | Advanced charting, basket orders, option chain, Trading API, research reports, Smart Orders, eMargin, MTF, IPO and mutual fund investments. |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Anand Rathi and Kotak Neo.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Trading platforms offered | AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API |
| Number of platforms | 3 | 4 more choice |
| Platforms (summary) | AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API |
| Mobile / desktop apps | Web, Mobile, Desktop | Web, Android & iOS, Desktop, API |
User ratings
User ratings for Anand Rathi and Kotak Neo across the key parameters.
| Rated on | Anand Rathi | Kotak Neo |
|---|---|---|
| Fees | 4.1 | 4.4 better |
| Brokerage | 4.2 | 4.5 better |
| Trading platform | 4.5 | 4.7 better |
| Customer service | 4.6 better | 4.3 |
| Research | 4.8 better | 4.4 |
| Overall | 4.4 | 4.4 |
Investment options
Which investment products Anand Rathi and Kotak Neo let you access.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by Anand Rathi and Kotak Neo.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Bracket Order | ✓ Yes better | ✕ No |
| Cover Order | ✓ Yes better | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✕ No | ✓ Yes better |
Safety & credibility
SEBI registration, financial strength and complaint record for Anand Rathi and Kotak Neo.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| SEBI registration | INZ000170832 | INZ000200137 |
| NSE member code | 09280 | 08081 |
| Year of incorporation | 1994 | 1994 |
| Net worth | ₹2,300+ Cr | ₹5,000+ Crore (Approx.) stronger |
| Exchange memberships | NSE · BSE · MCX · NCDEX · MSEI | NSE · BSE · MCX |
| Latest complaint ratio | 0.003% fewer complaints | 0.034% |
Complaints record
Exchange complaint data for Anand Rathi and Kotak Neo — the ratio matters more than the raw count.
| Parameter | Anand Rathi | Kotak Neo |
|---|---|---|
| Latest financial year | 2025–26 | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | 6,48,217 | 15,40,000+ larger base |
| Complaints filed | 22 | 520 |
| Complaint ratio | 0.003% fewer complaints | 0.034% |
Pros & cons
The main advantages and drawbacks of each broker.
Anand Rathi
▲ Pros
- ✓ Strong equity and commodity research with expert advisory.
- ✓ Comprehensive wealth management and investment solutions.
- ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, AIFs, and insurance.
- ✓ Large nationwide branch and relationship manager network.
- ✓ Advanced web, mobile, and desktop trading platforms.
- ✓ Personalized investment recommendations for retail and HNI clients.
▼ Cons
- ✕ Brokerage charges are generally higher than discount brokers.
- ✕ Annual Demat AMC is applicable.
- ✕ Advanced wealth management services are primarily targeted at premium clients.
- ✕ Call & Trade charges may apply.
- ✕ Frequent traders may find discount brokers more economical.
Kotak Neo
▲ Pros
- ✓ Trusted full-service broker backed by Kotak Mahindra Bank.
- ✓ Low brokerage plans for active traders.
- ✓ Advanced Kotak Neo web and mobile trading platforms.
- ✓ Investment in Stocks, IPOs, Mutual Funds, ETFs and Bonds from one account.
- ✓ Research reports, market insights and investment recommendations.
- ✓ API support for algo trading.
- ✓ Easy online account opening with Aadhaar-based eKYC.
- ✓ Multiple order types with advanced charting tools.
▼ Cons
- ✕ Demat AMC may apply depending on the selected plan.
- ✕ Call & Trade service is chargeable.
- ✕ Margin Trading Facility (MTF) is available only for eligible stocks.
- ✕ Some advanced features are available only under specific plans.
- ✕ Research and advisory offerings may vary across customer plans.
Explore more comparisons
Compare Anand Rathi with
Anand Rathi vs Zerodha Anand Rathi vs Angel One Anand Rathi vs Upstox Anand Rathi vs Groww Anand Rathi vs ICICI Direct Anand Rathi vs HDFC Securities Anand Rathi vs SBI Securities Anand Rathi vs Motilal Oswal Anand Rathi vs Paytm Money Anand Rathi vs Mirae Asset Sharekhan Anand Rathi vs Axis Direct Anand Rathi vs 5paisa Anand Rathi vs Choice Broking Anand Rathi vs m.Stock Anand Rathi vs Sahi Anand Rathi vs FYERS Securities Anand Rathi vs SMC Global Anand Rathi vs Jainam Broking LimitedCompare Kotak Neo with
Kotak Neo vs Zerodha Kotak Neo vs Angel One Kotak Neo vs Upstox Kotak Neo vs Groww Kotak Neo vs ICICI Direct Kotak Neo vs HDFC Securities Kotak Neo vs SBI Securities Kotak Neo vs Motilal Oswal Kotak Neo vs Paytm Money Kotak Neo vs Mirae Asset Sharekhan Kotak Neo vs Axis Direct Kotak Neo vs 5paisa Kotak Neo vs Choice Broking Kotak Neo vs m.Stock Kotak Neo vs Sahi Kotak Neo vs FYERS Securities Kotak Neo vs SMC Global Kotak Neo vs Jainam Broking LimitedDisclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.