Beware of 5Paisa/Indiainfoline - TTAdvance!!

[ganna1960]

Re: Beware of 5PAISA/INDIAINFOLINE - TTADVANCE sucks

hi, guys you are all absolutely correct with regard to ttadvance software really their software architect of this module is headless fellow, the architecture itself is having lot of problems , obviously it will further increases the problem to traders.
with regard to customer service india infoline customer support team developed some sort of inertia and they does not have checks for performance and quality. I do not know india infoline CEO is sleeping or doing what .

During the boom time these companies only look for accounts and brokerage at least during downward trend they should keep vigil on their manpower and their quality , response system to further increase the customer response hope their CEO is watching this site to learn few lessons

 

[MortalKombatant]

Re: Beware of 5PAISA/INDIAINFOLINE - TTADVANCE sucks

Dear Thread,

I can completely understand the pain you have gone through since I too have been a victim of these bunch of cheats who run 5paisa.com/Indiainfoline.

There is an immediate need to warn the public at large against the ulterior motive of these cheats who try to swindle the unsuspecting retails investors' money.

I too have an account with 5 paisa and I had two preconditions for opening the account - 1) I be given TT5 instead of the hopeless TTadvance and 2) a brokerage structure of 0.35% for delivery based transactions and 0.06% for intraday square off transactions.

However I was given TTAdvance which is such a hopeless software that already enough has been said about the same by other memebers. Futher, I never received physical contract notes. When I checked the digital contract notes, I understood that the brokerage being charged was more than what was agreed. I took up this issue with my Relationship manager but he asked me to generate more volume if I wanted a lower brokerage. I was completely schocked since this was a gross breach of contract as well as trust. After 4 months of continuous correspondence along with a complaint to the SEBI was I given the brokerage I was promised. However, for the past trades, the excess brokerage was not paid back.

ANOTHER IMPORTANT ISSUE YOU NEED TO BE WARY OF

Please ensure that the shares that you take delivery of are actually credited to your beneficiary demat account and not kept in their broker's pool account. I had bought certain no of RPL but did not see them in my demat statement (which itself was received after a long time). When I enquired with the RM he informed me that the shares were lying in the pool account so that they could deliver the same if some another (important ) client fails to deliver (ie does a short sale and does not deliver) RPL shares after he sells the same. I was outraged since I was myself subjected to auction charges for the same RPL shares I had sold which because of some technical problems with TT Advance could not be delivered (although I owned them in my demat account).

Further, the effect of such an event would be that since the shares are transferred to your demat account, you will not be the registered owner of these shares are any corporate benefits (like dividend, bonus) will never accrue to you.

Please make all your acquantainces aware of such malpractices indulged by these cheats.

Regards


QUOTE=cpatel4u;145526]They commited 0.25 delivery brokerage...while opening the accnt.
But after I started trading..they charged me 0.5.

Now that guy is telling me that 0.25 is not possible...i will give rebate n all stuff.

DONT go for 5paisa.[/QUOTE]

 

[rajsingh]

Re: Beware of 5PAISA/INDIAINFOLINE - TTADVANCE sucks

Thanks for posting your experience mortalkombatant.

 

[rajusahantc]

Re: Beware of 5PAISA/INDIAINFOLINE - TTADVANCE sucks

Thanks To all for sharing your bad experiances with India Infoline. I have also an account with india infoline and I have also faced the similar types of problem. TTADV is actually is not working in LAN for acessing internate. Also they are not credit the amount in the account in proper time and hence Ive losed to Purchased some shares in downtime market. On Earlier November07 I made a payment to them from my Axis bank Dunlop Br. Account. It was reflected in my bank account that the cheque has been cleared from my account but when i tried to purchase some share on basis of that they did not allowed and told me that this money was lying with their suspenses account as the account was not mapped with them. As per instruction given by them I've send all my details of such bank account but they took 1 month time to chenge the data and credit the amount in my ledger. During that time Ive lost so much of profit earning oppertunity. Not only that I found that have transacted a lot of intraday share purchase and sale in my account with out my consent and when Ive asked to My RM She told me that They have to do this as my account balance was showing Debit Balance. Also they have charged Fine for the same giving reason of Late Payment. All the Intraday transaction they have made with out consent of mine was in Loss. So I've lost my money in double way. One is making loss on transaction and other is charging fine.

 

[sselectronics]

Re: Beware of 5PAISA/INDIAINFOLINE - TTADVANCE sucks

I also use same software from infoline my expriance that it works fine but at time of make a good hit such as buying when market is down and selling in up market at that point in time either server is down or pasted orders get stuck 5paise and the reson given by RM is there is problem in exchange
presently tinking of changing broker

 

[Stokist]

saw this late...guys you could actually complain to SEBI (at least I feel things like holding the delivery to cover for short selling of other guys)
check the SEBI website http://www.sebi.gov.in/Complaint7.jsp to file online complaint...might save hundreds of new ppl going thru the same pain..
stokist

 

[prashant_singh]

I'm longtime customer of 5paisa- about 3 years. TT5 advance software in not good like TT5 & not used for TA TT5 advance.pl sugg other DP which giveing good software & tick by tick data for intraday

 

[S S]

Hi!

In Jan 08, the ac adapter of my laptop concked off. Being under warrenty, I had to get the replacement.

That was the time that 5Paisa had changed the TTAdv version to make it machine specific. I got stuck til the replacement for the ac adapter was available AFTER TWO MONTHS as this model is rare in India eve after 3 years of introduction.

5Paisa had no solution durng these two months, and I could not trade with 5 paisa. Used other brokers. Thereafter, they have introduced the option to select default machine for use.

Currently, I have 2 different accounts with 5 paisa for my family. Though the address is same, the brokerge structure differs totally. 5Paisa has no answer. They are still working on it.

On accounts maintenance front, there are un-countable mistakes. Wrong bills, wrong brokerage, wrong contracts,.... never ending list.

The mindset of the managemet is 'Customer is an Idiot. We only know everything and we are never wrong'

As there is no mitake accepted, there is no correction of the mistake. So the list continues.

The version upgrades take place. User does not know what is the upgrade for. Suggestions are acknowledged. But then they go to trash can.

So, either one continues with the problem, while continuing the quarrel with 5 Paisa or changes the broker [or both]

Ideally, we should form a forum to take this up with SEBI. But I have my own doubts, if SEBI would take any interest in such matters. Rules is one things. There application is another.

Cheers!
SS

 

[praneethsharma]

Re: Beware of 5PAISA/INDIAINFOLINE - TTADVANCE sucks

dear sanjay

i went through your compliants on ttadv . I was using tt5 now they have forced me to take ttadv . This software is totally useless all moving average are of same colour and each one of them is hanging in air.

When we look at candle stick pattern for 30-min it is totally wrong.

Now i am looking at some other broker like ventura for good software like
tt5. This tt5 is third party software , give to indiainfoline by spider software. Same software provider spidersoft is providing software called pointer for ventura brokers. So if you want you can consult them.

Indiainfoline has betrayed me they wanted me to join commited brokerage plan for tt5 software.

Regards
nanda

hi

i am also new to this community i can suggest u one thing iam into trading with religare and they r providing good software with all the charts and all and also they have come up with a attractive brokrage schemes
i am going to post his number , contact hi[/b]m 9963691919

 

[nishanth_marathe]

Hi Good day, I am recent victim to Indiainfoline. I have an DMAT Account with Indiainfoline. I am small time investor. I used to buy shares in small quantity.
1) I do day trade once in a while. Recently i put a Order to buy shares of a company. Price of that particular share wentup and i realised it it not worth buying it. Hence i cancelled the order. TT did not gave me a "Cancelled" message, Hence i called Indiainfoline office and asked them to cancel the order. They confirmed to me that order got cancelled. That day night i got Automatic SMS from IIFL saying i bought that shares and i have that amount pending to pay. Next day when i called them manager asked me to sell all the shares. In this process i lost money because price of this particular share had came down dramatically. Since the manager had promised me to solve and refund amount i decided not to bother much.
2) Few days later Manager called and said all the problems are sorted out. I can do a test trade and cancel it. As per his advice i did that. Again it did not gave me any message when i cancelled it. For my unluck price of that share came down that day afternoon to the price what i had put. This time i had captured every screen shot at every stage. I forwarded everything to manager. He promised to solve and accepting that they have some problem with their TT. After a week he called and asked me to settle pending amount for wrongly executed order and promised in due course all charges will be reversed. believing him i transferred amount for the trade executed because of their mistake. Its almost a month since then, I am following up with this manager. Sending emails. He is saying he is helpless as problem has to be sorted out by technical guys who are sitting in Mumbai. Now i am not getting any response from anyone.

So guys please DON'T EVER do the mistake of opening DMAT account and Trading with INDIAINFOLINE. They are a bunch of CROOKS sitting there just to rob small investors money.

If you the proof - and want to see the detailed step by step screenshots Do write to me @ [email protected]