I would want to warn people not to fall prey to false claims and promises of Laxmi Stocks. The company projects itself as a research based advisory firm. The company forwards bulk sms to people claiming it would enable its clients to earn Rs 10, 000 daily by giving rewarding stock tips based on research. Then when you call them up they say they could easily earn Rs 5000 a day for you on a capital of Rs 1 lakh by providing tips in futures and options. Well these are al false promises. They project themselves so confidently; like saying, you would earn Rs 60, 000 in a week’s time etc. Frankly all this talk is such that it inflicts greed in you and you get compelled to fall for these plans. The actual truth is they are unable to deliver on their claims. They make tall claims and speak so confidently that you feel they would easily achieve you the returns they are claiming. The realty is their tips do not work.
When i googled "Laxmi Stocks", I got results which clearly stated that Laxmi Stocks is a fraud company. But even then i subscribed to their services out of greed, feeling i would be lucky. I subscribed to their services and my capital was down by Rs 20, 000 on the first day of trading itself. None of their tips worked and I incurred losses. I then digged for information and came to know that people at Laxmi Stocks who give advice and tips on stocks are even undergraduates and unqualified people with no adequate competency and expertise. There are also 19 year olds giving stock tips and research calls. They charge you a hell lot of money for tips that do not work.
When you question them on losing money, they say you are weak hearted and you should continue trading. I was told that you should be willing to let your portfolio of Rs 1 lakh decline till 75, 000 and then from there there would be a turnaround. Now what’s the use of their tips if I have to initially lose Rs 75000. Why don’t their tips work? Why should I lose Rs 75000?
If you earn money then you are lucky. Otherwise their staff does not have any exceptional expertise and paying them money is not worth it. You could just do with your broker's / dealer's advice which comes free of cost. Further they also say that they would return your fees if you are unable to deliver. Now here the thing is losing around a lakh rupees of capital and getting back Rs 20, 000, which is their consultancy fees, is senseless and impractical. That too I haven't checked if they actually return your money back.
And finally if they tell you to pay half the fees first and then pay the remaining once you earn, don’t fall for it. You could just lose the initially fee payment made by you.
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