IndiaBulls
Cheated on borkerage rates - INDIABULLS

Hi,

I recently opened a demat and trading account with Indiabulls. While opening account they mentioned only 0.15 delivery and 0.015 intraday brokerage and that there is no Account opening charge and AMC.

However, on my first trading, I was shocked to see the electronic contract note, where the brokerage was charged at abysmally HIGH rate of 0.50 and 0.10 for delivery and intraday respectively. How can they do daylight cheating like this with customers. I called my RM and he says he has send modification request which will take 2-3 days. But he says that this charge will not be reversed and that this will be the tendancy for first few trades. There is no clarity of what brokerage rate is being charged. There is no link on their trading portal which will tell you your brokerage charges. It is a cheat company.

Secondly, they deducted Rs 900 from my trading account citing account opening charges, which I was promised will not be charged. on this issue my RM said it will be reversed in a week. However even after 3 weeks, it has not been reversed.

So if you are going for indiabulls account, i would advice not to go. Don't be lured on what their representatives say, it will never materialize, and you will feel cheated after a month.

Company: IndiaBulls
Country: India
State: West Bengal
City: North 24 Parganas

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