Quick Comparision (DPTradeKing VS Khandwala Securities)

DPTradeKing
DPTradeking Review gives an overall view and updates about the Brokerage Charges, Margin, Trading Software 2024, Demat Account Charges and Zebu Trade also give overview on NRI Account, Branches, Customer Support, Advantages and Disadvantages.

Khandwala Securities
Khandwala Securities Review gives an overall view and updates about the Brokerage Charges, Margin, Trading Software, Demat Account Charges, NRI Account, Branches, Customer Complaints

	DPTradeKing	Khandwala Securities
Single Margin Facility		Yes
Year of Incorporation	2016	1993
Exchanges	BSE, NSE and MCX	NSE, BSE, MCX and NCDEX
Branches	N/A	794
Brokerage	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10
Broker Type	Full Service Broker	Full Service Broker

	DPTradeKing	Khandwala Securities
Trading Account Opening Charge	₹0 (Free)	Basic Plan - ₹0 (Free) \| Life Time Plan - ₹0 (Free)
Demat Account Opening Charge	₹0 (Free)	Basic Plan - ₹0 (Free) \| Life Time Plan - ₹0 (Free)
Demat Account AMC	₹0 (Free)	Basic Plan - ₹500 + GST per year (Individual) ₹1000 + GST per Year(Non-Individual) \| Life Time Plan - ₹1700 + GST per year (Individual) ₹5000 + GST per Year(Non-Individual)
Trading Account AMC	₹0 (Free)	N/A

	DPTradeKing	Khandwala Securities
Commodity Futures	N/A	Base Plan (NIL) - 0.050 \| Option 1 (Rs.249) - 0.035 \| Option 2 (Rs 499) - 0.025 \| Option 3 (Rs.999) - 0.018 \| Option 4 (Rs.1999) - 0.015 \| Option 5 (Rs.2999)- 0.010
Currency Futures	0.05% per order	Base Plan (NIL) - 0.050 \| Option 1 (Rs.249) - 0.035 \| Option 2 (Rs 499) - 0.025 \| Option 3 (Rs.999) - 0.018 \| Option 4 (Rs.1999) - 0.015 \| Option 5 (Rs.2999)- 0.010
Equity Delivery	0.50% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10
Equity Options	₹50 per lot	Base Plan (NIL) - 50 \| Option 1 (Rs.249) - 40 \| Option 2 (Rs 499) - 35 \| Option 3 (Rs.999) - 25 \| Option 4 (Rs.1999) - 20 \| Option 5 (Rs.2999)- 15
Commodity Options	N/A	Base Plan (NIL) - 50 \| Option 1 (Rs.249) - 40 \| Option 2 (Rs 499) - 35 \| Option 3 (Rs.999) - 25 \| Option 4 (Rs.1999) - 20 \| Option 5 (Rs.2999)- 15
Equity Futures	0.05% per order	Base Plan (NIL) - 0.050 \| Option 1 (Rs.249) - 0.035 \| Option 2 (Rs 499) - 0.025 \| Option 3 (Rs.999) - 0.018 \| Option 4 (Rs.1999) - 0.015 \| Option 5 (Rs.2999)- 0.010
Currency Options	₹50 per lot	Base Plan (NIL) - 50 \| Option 1 (Rs.249) - 40 \| Option 2 (Rs 499) - 35 \| Option 3 (Rs.999) - 25 \| Option 4 (Rs.1999) - 20 \| Option 5 (Rs.2999)- 15
Fixed Charges	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10
Equity Intraday	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10

	DPTradeKing	Khandwala Securities
RMS Square Off Charge	( ₹25 + GST)	₹50 per order
API Charges	₹0 (Free)	Free API
Call & Trade Charges	( ₹25 + GST)	Rs. 50 (+ GST)
Other Brokerage Charges	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10
Minimum Brokerage	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10

	DPTradeKing	Khandwala Securities
Currency Options	0.035% of Premium Value in case of Option Segment	Exchange txn charge: 0.035%
Equity Futures	NSE: Exchange turnover charge: 0.0020% \| Clearing charge: 0.0002%	NSE: 0.0019%
Equity Intraday	0.00345% Of Total Turnover value	NSE: 0.00325% BSE: 0.00275%(BSE: charges vary as per the scrip group)
Equity Options	NSE: Exchange turnover charge: 0.053% \| Clearing charge: 0.005%	NSE: 0.05% (on premium)
Commodity	N/A	Group A Exchange txn charge: 0.0026% Group B Exchange txn charge: 0.006% Clearing charge: .00025%
Currency Futures	0.00090% of Total Future Turnover value	Exchange txn charge: 0.0009% Clearing charge: .00025%
Equity Delivery	NSE: 0.00345% trade on buy & sell \| BSE: charges vary as per the scrip group	NSE: 0.00325% BSE: 0.00275%(BSE: charges vary as per the scrip group)

	DPTradeKing	Khandwala Securities
Equity Options	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Equity Intraday	5x (Up to 20% of trade value)	5x (Up to 20% of trade value)
Currency Options	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Commodity Options	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Commodity Futures	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Equity Delivery	1x (100% of trade value)	1x (100% of trade value)
Currency Futures	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Equity Futures	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))

	DPTradeKing	Khandwala Securities
Online Portfolio
Algo Trading
Margin Trading Facility
Call & Trade Facility
Referral Program
Collateral Margin
Online Demo
3 in 1 Account
Charting
Intraday Square-off Time	Equity Cash:- 3:15 PM (Co- 3:10 PM) \| Equity Derivatives:- 3:20 PM (Co- 3:10 PM) \| Currency Derivatives:- 4:30 PM(Co- 4:35 PM) Commodities:- 40 mins prior to when the market closes at 11:30 PM 30 mins prior to when the market closes at 11:55 PM	Equity & F&O:- 3:30pm \| Currency: 4:45PM \| Commodities: 11:15 PM
Trading Platform	1. DP TradeKing Mobile App, 2. DP TradeKing Web Platform, 3. WealthEvator App	1.KSL EasyTrade Mobile App, 2. KSL EasyTrade Web Portal, 3. KSL Prive Desktop Software
SMS Alerts for Trades
Direct Mutual Fund

	DPTradeKing	Khandwala Securities
Trading Brokerage
Customer Service
Fees
Trading Platform Usability
Mobile App
Research
Desktop Software
Overall Ratings
Broker Rating

	DPTradeKing	Khandwala Securities

	DPTradeKing	Khandwala Securities
Currency
IPO
Commodity
Debt
Other Options
Stock Cash / Equity
Mutual Funds
Bond / NCD

	DPTradeKing	Khandwala Securities
Bracket Order/BO/OCO
BTST
Cover Order/CO
Good Till Cancelled (GTC)
BUY ABOVE/SELL BELOW (SL-M)
After Market Order(AMO)
STBT

	DPTradeKing	Khandwala Securities
Free Tips
Quarterly Result Analysis
Daily Market Report
News Alerts

	DPTradeKing	Khandwala Securities
Daily Market Reports & News

	DPTradeKing	Khandwala Securities
Casual Investor
Active Investor
Trader

	DPTradeKing	Khandwala Securities
Pros	1.Benefits of using DP TradeKing 2. For customers convenience, mobile trading app is available. 3. Both web and mobile has After Market Order (AMO), (CO) or (OCO) order. 4.Positive aspects of DP TradeKing 5. Availability of multiple indicators to monitor market.	1.Wide Range of Financial Products 2.Research and Analysis, 3. Excellent customer service and support, 4. Collaborates with traditional institutions for hybrid solutions, 5. Competitive pricing and low fees. 6.User-Friendly Platform, 7. Competitive Pricing.
Cons	1.Downsides of using DP TradeKing 2.Extra charge of call and trade fee on per executed order. 3. In case, customer does not square off the Intra day square orders, 4. No provision for stock tips and recommendations. 5. Unavailability of 3 in 1 account. 6. Customer support is time constraint. 7.Unavailability of margin funding on delivery trades.	1. Limited International Presence 2. Limited Advanced Features 3. Dependency on market conditions and economic factors, 4.Customer Service Concerns 5. Different fintech platforms may not seamlessly work together., 6. Restricted Investment Options.

	DPTradeKing	Khandwala Securities

	DPTradeKing	Khandwala Securities

	DPTradeKing	Khandwala Securities
Commodity Futures	0.01% on sell trade (Non-Agri)	0.01% on sell side (Non-Agri)
Currency Futures	No STT	No STT
Equity Intraday	0.025% only on sell	0.025% on the sell side
Equity Options	0.05% only on sell	0.0625% on sell side (on premium)
Currency Options	No STT	No STT
Equity Delivery	0.1% on both buy & sell	0.1% on buy & sell
Equity Futures	0.01% only on sell	0.0125% on sell side
Commodity Options	0.05% on sell trade	0.05% on sell side

	DPTradeKing	Khandwala Securities
Equity Demat Transaction Charges	Rs. 5/- Per Certi. (Subject to minimum 25/- Per ISIN)	20 + GST per scrip

	DPTradeKing	Khandwala Securities
Equity/Currencies/Commodities ( Delivery & FNO)	18% (on brokerage + transaction charges) \| Equity Delivery - 18% (on brokerage + transaction + demat charges)	18% on (Brokerage + Transaction Charge)

	DPTradeKing	Khandwala Securities
Equity/Currencies/Commodities ( Delivery & FNO)	₹10/ Crore	₹10/Crore

DPTradeKing

Khandwala Securities

Trading Account Opening Charge

₹0 (Free)

Basic Plan - ₹0 (Free) | Life Time Plan - ₹0 (Free)

Demat Account Opening Charge

₹0 (Free)

Basic Plan - ₹0 (Free) | Life Time Plan - ₹0 (Free)

Demat Account AMC

₹0 (Free)

Basic Plan - ₹500 + GST per year (Individual) ₹1000 + GST per Year(Non-Individual) | Life Time Plan - ₹1700 + GST per year (Individual) ₹5000 + GST per Year(Non-Individual)

Trading Account AMC

₹0 (Free)

N/A

	DPTradeKing	Khandwala Securities
	DPTradeKing Account Opening Process and Charges Details Read more..	Khandwala Securities Account Opening Process and Required Document Details Read more..

	Account Opening Review Demat Account Complaints IPO Branches Mutual Fund Trading Software Mobile App Exposure NRI Account Brokerage	Account Opening Demat Account Complaints Review Trading Software Mobile App Mutual Fund IPO Brokerage Exposure Branches NRI Account

	DPTradeKing	Khandwala Securities
Commodity Futures	N/A	Base Plan (NIL) - 0.050 \| Option 1 (Rs.249) - 0.035 \| Option 2 (Rs 499) - 0.025 \| Option 3 (Rs.999) - 0.018 \| Option 4 (Rs.1999) - 0.015 \| Option 5 (Rs.2999)- 0.010
Currency Futures	0.05% per order	Base Plan (NIL) - 0.050 \| Option 1 (Rs.249) - 0.035 \| Option 2 (Rs 499) - 0.025 \| Option 3 (Rs.999) - 0.018 \| Option 4 (Rs.1999) - 0.015 \| Option 5 (Rs.2999)- 0.010
Equity Delivery	0.50% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10
Equity Options	₹50 per lot	Base Plan (NIL) - 50 \| Option 1 (Rs.249) - 40 \| Option 2 (Rs 499) - 35 \| Option 3 (Rs.999) - 25 \| Option 4 (Rs.1999) - 20 \| Option 5 (Rs.2999)- 15
Commodity Options	N/A	Base Plan (NIL) - 50 \| Option 1 (Rs.249) - 40 \| Option 2 (Rs 499) - 35 \| Option 3 (Rs.999) - 25 \| Option 4 (Rs.1999) - 20 \| Option 5 (Rs.2999)- 15
Equity Futures	0.05% per order	Base Plan (NIL) - 0.050 \| Option 1 (Rs.249) - 0.035 \| Option 2 (Rs 499) - 0.025 \| Option 3 (Rs.999) - 0.018 \| Option 4 (Rs.1999) - 0.015 \| Option 5 (Rs.2999)- 0.010
Currency Options	₹50 per lot	Base Plan (NIL) - 50 \| Option 1 (Rs.249) - 40 \| Option 2 (Rs 499) - 35 \| Option 3 (Rs.999) - 25 \| Option 4 (Rs.1999) - 20 \| Option 5 (Rs.2999)- 15
Fixed Charges	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10
Equity Intraday	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10

	DPTradeKing	Khandwala Securities
Equity Options	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Equity Intraday	5x (Up to 20% of trade value)	5x (Up to 20% of trade value)
Currency Options	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Commodity Options	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Commodity Futures	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Equity Delivery	1x (100% of trade value)	1x (100% of trade value)
Currency Futures	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))
Equity Futures	1x (100% of Normal margin (Span + Exposure))	1x (100% of Normal margin (Span + Exposure))

	DPTradeKing	Khandwala Securities
RMS Square Off Charge	( ₹25 + GST)	₹50 per order
API Charges	₹0 (Free)	Free API
Call & Trade Charges	( ₹25 + GST)	Rs. 50 (+ GST)
Other Brokerage Charges	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10
Minimum Brokerage	0.05% per order	Base Plan (NIL) - 0.50 \| Option 1 (Rs.249) - 0.35 \| Option 2 (Rs 499) - 0.25 \| Option 3 (Rs. 999) - 0.18 \| Option 4 (Rs.1999) - 0.15 \| Option 5 (Rs. 2999)- 0.10

	DPTradeKing	Khandwala Securities
Commodity Futures	0.01% on sell trade (Non-Agri)	0.01% on sell side (Non-Agri)
Currency Futures	No STT	No STT
Equity Intraday	0.025% only on sell	0.025% on the sell side
Equity Options	0.05% only on sell	0.0625% on sell side (on premium)
Currency Options	No STT	No STT
Equity Delivery	0.1% on both buy & sell	0.1% on buy & sell
Equity Futures	0.01% only on sell	0.0125% on sell side
Commodity Options	0.05% on sell trade	0.05% on sell side

	DPTradeKing	Khandwala Securities
Equity Demat Transaction Charges	Rs. 5/- Per Certi. (Subject to minimum 25/- Per ISIN)	20 + GST per scrip

	DPTradeKing	Khandwala Securities
Equity/Currencies/Commodities ( Delivery & FNO)	18% (on brokerage + transaction charges) \| Equity Delivery - 18% (on brokerage + transaction + demat charges)	18% on (Brokerage + Transaction Charge)

	DPTradeKing	Khandwala Securities
Equity/Currencies/Commodities ( Delivery & FNO)	₹10/ Crore	₹10/Crore

	DPTradeKing	Khandwala Securities
Online Portfolio
Algo Trading
Margin Trading Facility
Call & Trade Facility
Referral Program
Collateral Margin
Online Demo
3 in 1 Account
Charting
Intraday Square-off Time	Equity Cash:- 3:15 PM (Co- 3:10 PM) \| Equity Derivatives:- 3:20 PM (Co- 3:10 PM) \| Currency Derivatives:- 4:30 PM(Co- 4:35 PM) Commodities:- 40 mins prior to when the market closes at 11:30 PM 30 mins prior to when the market closes at 11:55 PM	Equity & F&O:- 3:30pm \| Currency: 4:45PM \| Commodities: 11:15 PM
Trading Platform	1. DP TradeKing Mobile App, 2. DP TradeKing Web Platform, 3. WealthEvator App	1.KSL EasyTrade Mobile App, 2. KSL EasyTrade Web Portal, 3. KSL Prive Desktop Software
SMS Alerts for Trades
Direct Mutual Fund

Zerodha

India's Largest Broker

Equity Delivery Free

Advanced Trading Platforms

Account Opening ₹200/-

Call Back Open Account

Alice Blue

Low Brokerage

FNO @ ₹15/Order

Free Trading Software

Free API Access

Call Back Open Account

Upstox

Free Account Opening

Flat ₹20 Brokerage

Free Technical Software

Backed by Ratan Tata Ji

Call Back Open Account

Angel One

Free Account Opening

Flat ₹20 Brokerage

Free Equity Delivery

Ultra-fast Digital Platform

Call Back Open Account

5Paisa

Various Brokerage Plans

Flat ₹20 Brokerage

Free Technical Software

Free Research Services

Call Back Open Account

Fyers

Free Equity Delivery

Intraday at ₹20/Order

Advanced Charting

Life Time Free AMC

Call Back Open Account

Stoxkart

No Profit No Brokerage

Free Equity Delivery

Brokerage of Flat ₹15/Trade

We earn only when you do

Call Back Open Account

ProfitMart

Free Account Opening

₹20/ Order

Free API Access

FREE Advanced Terminal

Call Back Open Account

Zebu Trade

Free Technical Software

Free API Access

Low Brokerage

Faster Payouts

Call Back Open Account

Flattrade

Free Account Opening

Decent Customer Services

Free Technical Software

Zero Brokerage in All Segments

Call Back Open Account

IIFL Securities

Free Research Reports

₹20/Order

₹0 AMC for 1st Year.

Free Research Services

Call Back Open Account

Kotak Securities

Various Types of Account

Free Account Opening

Flat ₹20/Order Brokerage

Zero Brokerage on Intraday

Call Back Open Account

ICICI Direct

Free Trading Account

Zero brokerage charges

Low Brokerage

Access to Award-winning research

Call Back Open Account

Sharekhan

International Presence

Free Account Opening

Open Account in Just 15 mins

Various Brokerage Slabs

Call Back Open Account

Paytm Money

Zero Account Opening

No Hidden Charges

Research Facility

Lowest Trading Charges

Call Back Open Account

Goodwill Commodities

₹11/ Order

Free Account Opening

Best Charting Software

Call Back Open Account

Groww

Growing Discount Broker

No Hidden Charges

No Transaction Charges in MF

₹20/ Order

Call Back Open Account

Samco

Growing Discount Broker

Free Account Opening

Instant Online Account

₹20/ Order

Call Back Open Account

Bajaj Finserve

Free Account Opening

Innovated Fixed Deposit

AMC Waived for 1 year

Free Advisory Services

Call Back Open Account

Finvasia

₹0 Brokerage on Trading

Free Account Opening

Commission Free Broker

Free Call & Trade

Call Back Open Account

SMC Global

International Presence

Competitive brokerage rates

Free Account Opening

Free Research Services

Call Back Open Account

FundsIndia

Free Investment Guidance

MF | Equities | F&O | NPS & more

Best in-Class Research

Free Account Opening

Call Back Open Account

mStock

Best Discount Broker

Margin Trading Facility

Advance Trading Platform

Provides Technical Analysis

Call Back Open Account

Rupeezy

Indian Stock Broker

Advance Trading Platform

Free Demat Account Opening

Call Back Open Account

GarvThakur.com

Quick Comparision (DPTradeKing VS Khandwala Securities)

DPTradeKing Vs Khandwala Securities

DPTradeKing Vs Khandwala Securities - Broker Details

DPTradeKing Vs Khandwala Securities - Account Opening & AMC Charges

DPTradeKing Vs Khandwala Securities - Brokerage charges & Plans

DPTradeKing Vs Khandwala Securities - Other Charges

DPTradeKing Vs Khandwala Securities - Transaction Charges

DPTradeKing Vs Khandwala Securities - Margin (Exposure)

DPTradeKing Vs Khandwala Securities - Features

DPTradeKing Vs Khandwala Securities - Review & Rating

DPTradeKing Vs Khandwala Securities - Request a call back from Broker

DPTradeKing Vs Khandwala Securities - Investment Options

DPTradeKing Vs Khandwala Securities - Order Type

DPTradeKing Vs Khandwala Securities - Research & Report

DPTradeKing Vs Khandwala Securities - Daily Market Report

DPTradeKing Vs Khandwala Securities - Suitable For Investor

DPTradeKing Vs Khandwala Securities - Pros & Cons

DPTradeKing Vs Khandwala Securities - Background

DPTradeKing Vs Khandwala Securities - Compare All Brokers

DPTradeKing Vs Khandwala Securities - STT/CTT

DPTradeKing Vs Khandwala Securities - Demat transaction charges

DPTradeKing Vs Khandwala Securities - GST

DPTradeKing Vs Khandwala Securities - SEBI Charges

DPTradeKing Vs Khandwala Securities - Account Opening & AMC Charges

DPTradeKing Vs Khandwala Securities

DPTradeKing Account Opening Process and Charges Details

Khandwala Securities Account Opening Process and Required Document Details

DPTradeKing Vs Khandwala Securities - Brokerage charges & Plans

DPTradeKing Vs Khandwala Securities - Margin (Exposure)

DPTradeKing Vs Khandwala Securities - Other Charges

DPTradeKing Vs Khandwala Securities - STT/CTT

DPTradeKing Vs Khandwala Securities - Demat transaction charges

DPTradeKing Vs Khandwala Securities - GST

DPTradeKing Vs Khandwala Securities - SEBI Charges

DPTradeKing Vs Khandwala Securities - Features

DPTradeKing

Khandwala Securities