Beware of BMA Wealth Creator Pvt Ltd.

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Rish

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#22
i have also have account with them but old from 2007 . seeing all this i am also worried. this link sud be sent at the customercare of bma
True. Even they will not pay the salary properly to the Team Leaders and Team Members, this has to be referred Human Resource Dept of Govt of India.

No proper system
No queries will be answered
No response for your compliants
You will loose your dividend on your holdings
etc. etc.......

We have to protect our money, investors be careful with the Company if you have account.
 
#23
I have an trading account with BMA WEALTH CREATORS PVT LTD. Since 2008 but i never face any problem with this company. I also paid Advance Brokerage and they are charging as they commited. Staff of this company are very helpful. I have an a/c with Nirmal Bang also but service of BMA compare to Nirmal Bang is far better. I dont know why so many people are complaining. It's a very good company specialy in stock broking industries.
 

Rish

Well-Known Member
#24
I have an trading account with BMA WEALTH CREATORS PVT LTD. Since 2008 but i never face any problem with this company. I also paid Advance Brokerage and they are charging as they commited. Staff of this company are very helpful. I have an a/c with Nirmal Bang also but service of BMA compare to Nirmal Bang is far better. I dont know why so many people are complaining. It's a very good company specialy in stock broking industries.
If you are not facing problem, well and good.

However, Be aware, one day, you will also land into trouble. You will never get any response from the staff, i am disagreeing with your comments on there management, real culprits.

Just, this is for information.

As long as you don't have any problem, all the best.
 
#25
Dear all,

I also had some bitter experiences with BMA. I would like to share the same with u all. From the day one of opening account problems started. Not showing of saving account details. wrong password send to my email ID, login blocked. To view Back office report needs another password required the passoword they send is not accepted on website. At last if you want to get-ride of all, you cant easily get a pay out as easily you paid in online. YOU CAN'T GET AN ONLINE PAY OUT IN BMA AS TOLD BY THEIR PAY OUT (even if u can pay in online) DEPARTMENT AT KOKOTA. For pay out you have to send an email request to [email protected] and wait for the check rech you.

Please do not get traped to this kind of brockers.........you will loose ur peace of mind!:sos::sos:

Thanks.
 
#26
If a broker is not doing immediate pay-out or delaying payouts, we all know wats is happening there ? They are using your funds for proprietary trading. They are not supposed to mix client and own accounts. We all know wat happened to MF Global .
Beware of such brokers !
I have account with Zerodha. Payout is automated and credited by next morning.
 
#27
If your stock broker BMA Wealth Creators have conducted unauthorized trades in your account, you are not alone. In fact, in percentage terms BMA Wealth Creators gets six times more complaints than any other stock broker as per the report 1c filed by NSE in the following links: http://www.nseindia.com/invest/content/arbitration_reports/report_1c_2012_13.htm, http://www.nseindia.com/invest/content/arbitration_reports/report_1c_2011_12.htm.

If you calculate (No of complaints received against the TM/No of UCCs at the beginning of the year)*100 for every trading member you will find that the statistic for BMA is an outlier for last 3 years.

Now the question is why NSE ignores such a repeat offender ? Perhaps because they have on NSE Executive Committee Mr. Anubhav Bhatter Managing Director & CEO, BMA Wealth Creators Ltd. http://www.nseindia.com/content/us/us_ec.htm

How to act when BMA Wealth Creators Ltd has conducted unauthorized trades in your account ?

1. Write a letter to BMA informing them that trades have been conducted in your account without your consent.

2. Complain to SEBI through their online complaint portal http://scores.gov.in/Complaint.aspx?flag=n .SEBI will forward your complaint to NSE. Do not complain to NSE directly because NSE is not under the ambit of RTI.

3. File an FIR with the police. Remember BMA is a habitual offender and are tough nuts to crack.

4. BMA Wealth Creators Ltd must reply to NSE within one month as per the SEBI circular: http://scores.gov.in/Complaint.aspx?flag=n. However, chances are you will not get any reply from them. File reminders through SEBI SCORES website. NSE maintains an online audit complaint trail. If no reply comes within one month file an RTI application with SEBI demanding what action has been taken on your complaint. This speeds up the normally inactive NSE ISC department. Write a letter to SEBI why no penal action is taken against BMA for not replying within one month as per the above circular..

5. If the amount involved is very big, hire a lawyer and file a suit with the high court.

Remember that you are not only up against BMA but BMA + NSE. Act fast. If you have also been cheated by BMA and have any suggestions please share here so that others may benefit.
 
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