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LKP Securities Review by A Digital Blogger

LKP Securities Review

LKP Securities is a full-service stockbroker based out of Mumbai and has a presence in more than 2300 locations across 200 cities of India. Started as a securities brokerage house in 1948, LKP Securities is a listed public company that posted a net worth of ₹158 Crore for the FY 2016-17.

LKP Securities has a membership with NSE, BSE, MCX-SX, NCDX and DGCX (Dubai) and allows its clients to trade across multiple segments including:

  • Equity
  • Fixed Income markets
  • Commodities
  • Currency
  • Investment Banking
  • Retail Distribution
  • Mutual Funds
  • IPO

Thus, with this wide range of trading and investment products, LKP definitely builds a strong case for the client's all financial investment needs.

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LKP Securities Trading Platforms

Technology is one area where this full-service stockbroker lags quite a bit. All its trading platforms, be it the mobile app or terminal application, are around average in terms of performance and user experience. We will talk about all of these one by one:

LKP Blue

LKP Blue is a downloadable trading software that clients can download and install on their machines. It is highly suitable for heavy traders and is loaded with the following features:

  • Funds transfers through a module - Paynetz
  • Order entry and modification
  • Multiple Market watch
  • Squaring off provision

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Trade Smart LKP Mobile App

TradeSmart LKP is a mobile trading platform with LKP Securities. As shown in the screenshots below, the design is pretty bland to go with mediocre user experience.

Here are some of the features of the trading application:

  • Live quotes for Equity, Currency and commodity markets
  • Multiple market watch with personalization features
  • Online Fund Transfers

 

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LKP Boss

LKP Boss is a comprehensive service for clients of LKP Securities so that they can their back office data as per their convenience. This service is available at any point in time of the day and thus, get complete transparent access to the back office service.

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LKP Securities Research

The full-service stockbroker has segregated its research to make sure understanding the recommendations and tips are easy for users. In other words, it helps clients to avoid information overload. Then, depending on the kind of trading segment user is looking to trade or invest in, corresponding reports or recommendations can be picked up. In this case, this is how the complete segregation is done:

  • Equity
    • Daily morning notes
    • Monthly reports
    • Company reports
    • Yearly reports
    • Derivatives daily
    • Quarterly reports
    • LKP Bytes
    • Budget outlook
    • Global outlook
    • Economic outlook
  • Mutual Fund
  • IPO
    • IPO analysis
  • Investment Banking
  • Currency
    • Daily reports
  • Performance tracking
    • Performance reports (Daily, weekly, monthly, half-yearly)
    • Power calls
  • Commodity
    • Daily reports

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LKP Securities Customer Service

The full-service stockbroker provides the following communication channels to its clients for customer support:

  • Offline branches
  • Toll-free number
  • Email support

With limited communication channels opened up for service, LKP Securities does not seem to be very serious as far as servicing its clients is concerned. There is no process in place for turnaround time, no set up for personalized communication and the support staff seems to be under-trained as well.

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LKP Securities Pricing

Here are the different trading-related costs levied by LKP Securities:

LKP Securities Account Opening Charges

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LKP Securities Brokerage

Full-service brokers charge a specific percentage of your trade value as brokerage. For example, if the brokerage for delivery trades is set at 0.3% or 30 Paisa (in broker's executive slang), then you are going to pay ₹300 per ₹1 Lakh worth of trade. This has nothing to do with the fact that you make profit or take a loss in that trade, you still need to pay ₹300 for that particular trade.

Here are the broker charges:

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Use this LKP Securities Brokerage Calculator for complete charges and your profit.

LKP Securities Transaction Charges

 

You can check the pricing details and rest of the Review here at LKP Securities Review

 

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Thursday, 25 April 2019

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