Online trading account -iifl

I shall fight, fight and fight for just and right.

It took almost 2 months to close the a/c. They deducted an amt. of Rs.250/- from ledger balance. I can not understand as to why ILFS is not transparent, why they promise one thing while opening a/c. and another thing when trnsaction starts. Ofcourse, I have come across some other brokers too who are cunny/crafty and non-transparent but IFLS is leader amongst such brokers. By doing so, they only lose customers. Why Sharekhan is still a leading broking house inspite of higher brokerage and poor Trade Tiger?. Bcoz, they are more transparent and customer friendly. Why I closed a/c. with India Infoline, inspite of lower brokerage they offered me after I complained to NSE?. Bcoz, I found that they are not transparent, features of their S/w is not a match to Poor Trade Tiger or PIB. How they are not transparent?: Before opening A/c. I was assured there would not be any charges. But after signing the form, I was made to pay 555/-. After opening the a/c., I was charged highest brokerage as compared to the prevailing brokerages, as against promised lower charges. When I realised their trick, I tried to close the a/c. and sent them delivery Instruction to transfer the shares, it was turned down inspite of my making 1 year's advance DP charges citing insufficient ledger balance. Ultimately what happened?. I incurred loss just by falling prey to this tricky broking house as I did hardly continued with them inspite of paying 550 (A/c Opening) + 660 (1 years DP charges) and 250/- while closing the account. Besides I sold the shares held with them, at loss. I curse this broking house. For nothing I lost money to them. Had they been transparent, they could have earned more brokerage from me as my volume is not low. Besides, I am sure, those who read my educative and informative messages through Traderji must have discouraged atleast few clients from opening account with them.

Another most important information about IIFL is that in response to NSE's enquiry with them on my complaint, they made a false statement/reply stating the matter was amicably settled even when I was in dark about NSE's letter. (I received my copy after a month of despatch from NSE). Such are the liers in IIFL.

This is for information of those who wish to open account with IIFL.

The issue was resolved subsequently. Now, from my side I wish only to educate clients who wish to open account with IIFL. There is no point in pursuing the issues any where else, as I have found that, all organisations including that of Govt. public grievances departments are toothless. It is only waste of time, money and energy. In the past, whenever and wherever there have been lapses, I used to complain to the concerned authorities but in most of the cases it was futile.

So far as NSE and BSE, not a single complaint was left unresolved. AT the same time I wish to add that in the begining, I used to complain to SEBI about share related issues and not a single case has ever been resolved.

Therefore, I recommend others to approach NSE or BSE whoever is facing problem in share investment related problem. They definetely would initiate action.

The issue was resolved subsequently. Now, from my side I wish only to educate clients who wish to open account with IIFL. There is no point in pursuing the issues any where else, as I have found that, all organisations including that of Govt. public grievances departments are toothless. It is only waste of time, money and energy. In the past, whenever and wherever there have been lapses, I used to complain to the concerned authorities but in most of the cases it was futile.

So far as NSE and BSE, not a single complaint was left unresolved. AT the same time I wish to add that in the begining, I used to complain to SEBI about share related issues and not a single case has ever been resolved.

Therefore, I recommend others to approach NSE or BSE whoever is facing problem in share investment related problem. They definetely would initiate action.