Indiainfoline very bad-charges you hidden charges poor quality

[rvlv]

Hi friends
Indiainfoline charges you hidden charges poor quality
I was using Indiainfoline broker services.
The dump something called regu charge apart from brokerage,taxes,etc
I tried to find out. I mailed them
no reply no response.

A broker who is not transparent in charges statement is amounting to cheating his customers.
and one more problem
indiainfoline does not have autosquare off etc so they put their daytraders to auction and get their customers screwed up with penalty charges of 10% or 20% exztra.

If you short sold, and could not settle next morning they promptly sell a part of all your shares.
if you buy 50 shares their statement shows 10 shares one brokerage 20 another finally charges of buying 50 direct are different from buying in parts.

custoimer service or help to customer is zero.
I now understand why customers run away from Indiainfoline-poor quality,hidden charges-no help or service to customers-instead trhey screw their own customers like that footballer who makes goals in his ownside.
how to destroy business-others need to learn from them.
their platform-you cant even draw a proper trendline as you like-it draws far away-complain-no response-mostly sleeping.

I heard Angel broking is better .can you guys share your opinion,please

cheers
rvlv

 

[alroyraj]

It is a well known fact that IIFL has faulty accounting practices but since they offer low brokerages upto even 0.01% everyone gets attracted to them. Angel is a good option but they charge min brokerage of Rs 30 per day per segment,its a new development.

 

[bangerabs]

I had account with them few years back. Once I placed order to sell 100 shares of Indian Oil. This was sold in 5 transactions of 20 each. And then, I was charged Rs.100/- towards DP charges i.e. @ Rs.20 per transaction. I took up the issue with them but there was no reply.

Recently, I was again approached to open a/c with the promise of lower brokerage. Hoping that things might have changed for better, I just opened account only to find that it was rather moved to worse from bad. I think, they are very bad in industry w.r.t service and practice. They only lose customers, I am sure. I shall never go for IIFL.

 

[alroyraj]

Exactly unfortunately some brokers may think that a lower brokerage compensates for bad software,backoffice and billing. Even worse is that it seems to be working seeing the sales they get and the number of complaint threads here.

 

[VijayDT]

Hi friends
Indiainfoline charges you hidden charges poor quality
I was using Indiainfoline broker services.
The dump something called regu charge apart from brokerage,taxes,etc
I tried to find out. I mailed them
no reply no response.

A broker who is not transparent in charges statement is amounting to cheating his customers.
and one more problem
indiainfoline does not have autosquare off etc so they put their daytraders to auction and get their customers screwed up with penalty charges of 10% or 20% exztra.


I heard Angel broking is better .can you guys share your opinion,please

cheers
rvlv

Dear Rvlv,
I have not worked with IIFL, but can share my experience with Angel Broking. I have a good experience with Angel. It is not that they have not made mistakes, but they have a feedback mechanism where I get my issues resolved. Above all, I have seen they inform you of any changes they would make, be it in their charges, back office or o their internet trading platform. They care for their customer. I have been receiving regular update on my margin shortfall and trading limits. Plus I feel their relationship model make all the difference, call your RM and he takes care of the rest, many a time even your margin shortfall. I think in these volatile times it is necessary we have a broker who can be bit considerate in our margin shortfall. Hence, all in all, I will rate Angel to be a good brokerage house, professional with a personal touch. I will highly recommend. Rest is your decision.
Regards,
VDT

 

[Poulomi]

I dont know much about india infoline as of now, but as far as I have heard, their reputation seems to be pretty bad due to malpractices and hidden charges. Angel broking is pretty good as compared to others in terms of service and brokerage.
Hey alroyraj, I dint understand minimum brokerage rs 30 per day charged by angel. I know that they charge minimum brokerage, but can you please tell me what is this funda of per day? And I feel brokerage wise india infoline is pretty high, they are much more than Angel. also they are pretty reluctant to negotiate.

 

[mave_rick]

If you call up your RM, he will promise to contact you but in reality he never bothers. You may try any number of times with same result. The various support channels they have does not have any inter-communication. Phone support does not know what chat support is doing with the customer, nor the chat bothers to know what transpired in e-mail.

Even when case is escalated, you neither get a call or e-mail. Basically, they treat customers like a filth bothering only for there money. They does not believe that both broker and customer can grow together.

You will be in a trap and much pain if you are going with India Infoline.

Try any other brokers, maybe little bit costly but not INDIA INFOLINE

 

[bangerabs]

Permit to add little more out of my own personal experience. Not only they train staff to fool the customers, they train their s/w to manipulate the account. Those who are with IIFL, please check ur Ledger balances on daily basis.

About fooling, I would like to add again that they had, perhaps continue to have, audacity to lie even to statutory authorities. Once I complained to NSE and in response to NSE's query, IIFL replied that the issue was settled with the client when I was not aware of any development till I saw the copy of the reply. Great instituition.

Those who wish to open a/c. with them please note, if for any reasons if you close the account, they deduct Rs.250/- towards closure. You are not allowed to withdraw full amt. from the balance. Whenever, you wish to withdraw, one has to approach RM. Online withdrawal facility was not available.

 

[iiflcustomerservice]

Dear IIFL Customer,

This has reference to your observations. In order to help us address the same, kindly provide us complete details (such as Login ID in connection with this issue . Please quote the same in your email. Upon receipt of the mail, our customer service team will be able to work on resolving the same.

regards,

IIFL Customer Service Team

 

[iiflcustomerservice]

Hi friends
Indiainfoline charges you hidden charges poor quality
I was using Indiainfoline broker services.
The dump something called regu charge apart from brokerage,taxes,etc
I tried to find out. I mailed them
no reply no response.

A broker who is not transparent in charges statement is amounting to cheating his customers.
and one more problem
indiainfoline does not have autosquare off etc so they put their daytraders to auction and get their customers screwed up with penalty charges of 10% or 20% exztra.

If you short sold, and could not settle next morning they promptly sell a part of all your shares.
if you buy 50 shares their statement shows 10 shares one brokerage 20 another finally charges of buying 50 direct are different from buying in parts.

custoimer service or help to customer is zero.
I now understand why customers run away from Indiainfoline-poor quality,hidden charges-no help or service to customers-instead trhey screw their own customers like that footballer who makes goals in his ownside.
how to destroy business-others need to learn from them.
their platform-you cant even draw a proper trendline as you like-it draws far away-complain-no response-mostly sleeping.

I heard Angel broking is better .can you guys share your opinion,please

cheers
rvlv

Dear Customer,

Even after repeated reminders, we do not have any communication from you . If this is a genuine complaint, please revert at earliest with information as requested. If this is not a genuine complaint but merely an attempt to malign us, we reserve the right to take necessary legal action in this matter, to protect our reputation.

Regards,

IIFL Customer Services