Axis Direct
High brokerage charge

I purchased 50000 shares of a stock at 30 paisa per share. Total investment of Rs 15000. Axis Direct charged me brokerage of Rs 5000 on purchase of shares worth Rs 15000 only. They have a clause in their contract where 10 paisa per share is charged for all shares worth Rs 10 or less.

The person who helped me open the trading account never informed me about this. When I put a compalint against this, the bank said its there in the contract I signed. There are 60 pages in the contract and how can a normal person spot a clause like this if not informed by the bank.

When I sell the shares, they will again charge me the same rate. So for a 30 paisa share a end up paying 20 paisa as brokerage, which means 66%.

How can an investor make profit on his investments if he/she is charged do much. No other bank has such high rates.

Company: Axis Direct
Country: India

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