CDEQUI not paying their franchisees-subrokers as not having enough funds

#1
hi

it comes to our notice that
cdequi cheats in a different style.
CDEQUI charges odin charges and says we are not charging any charges for odin.

If you use CDEQUI ,there is not enough chart data in options and currency.
Why?
They do not keep it there to save space etc.
MORAL OF THE STORY= IF YOU ARE OPTION TRADER OR CURRENCY TRADER-DONT TRADE WITH CDEQUI as you dont get enogh data in charts

CDEQUI roping in new franchisees by asking deposit of Rs 25000.
if the franchisee cannot turnover a brokerage of this much in one year,the franchisee looses his money-deposit.
Recently cdequi started making false promises that they will extend the validity period by 3month or 6 month beyond 1 year but the guy who promises is shi t scared to commit on e mail or on paper.

Why cdequi need to cheat their own clients franchisees this way?
For money whether it is indiainfoline or CDEQUI -they cheat.
Sharekhan sends silently transaction charges bill of 1500 after a year and people do not even know why sharekhan is doing this?

End of the day all brokers screw their own clients and steal money illegally.

HTML:
If you have any such problem,
first thing
dont keep quiet. do something.
post names-designation-location of people involved.

post it on traderji forum. ask your fellow members.
post your complaint on  www.clientcomplain.com
write to your local newspaper- 
(here they have to beg you to reply to same newspaper that they attended your complaint-dont do it unless your problem is resolved)
file a complaint in consumer protection forum with proof etc
 
#3
Now is free for still cdequi wants to charge for it.

ODIN every broker is providing free but CDEQUI is charging even for obselete we based trading platform.

THEY ARE LIVING IN OLD DAYS WHEN BROKER WAS BOSS AND CAN NOT DREAD THAY SUCH ARROGANT PRACTICES WILL SWEEP THEM OUT.
 

akhill

Well-Known Member
#4
CD equity has been following sham practices right from start. offering franchisee at cheaper prices, lot of hidden charges, pressure for turnover to clients, not providing any support at all... traders have to realize that every broker that provides cheap brokerage or promises reduced charges is not genuine. only some of them survive.
 

mastermind007

Well-Known Member
#5
Hello

Yes, I too have faced the problem with CDEQUI and they had hit me with the ODIN charges on retrospective basis. I asked them to show me document/contract page where they had mentioned ODIN charges and they've not yet reverted back. The RM who signed me up has left the company and joined IIFL and used to ask me to open account
with IIFL.

I am willing to tackle this complaint, if few of others are willing to join in. Tackling this alone (and in private) is waste of time...

What are txn charges of Sharekhan that you talk about ?. Only thing that I've seen in SK is they inflate the taxes from time to time.
 
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Steve

Active Member
#7
I too was a client at cdequi search, left them within a month as they resorted to charging me
for odiin which was not mentioned before and charged me extra brokerage rate than agreed upon,
they are a bunch of ruthless thugs. Recently a friend who is a franchisee wanted to close his account
and asked his deposit back, they refused and have asked him to square of the amount in trading charges.
When he threatened them with police action they said he could do whatever, but he would not get his deposit back.
 

mastermind007

Well-Known Member
#8
I too was a client at cdequi search, left them within a month as they resorted to charging me for odiin which was not mentioned before and charged me extra brokerage rate than agreed upon, they are a bunch of ruthless thugs. Recently a friend who is a franchisee wanted to close his account and asked his deposit back, they refused and have asked him to square of the amount in trading charges. When he threatened them with police action they said he could do whatever, but he would not get his deposit back.
Yes, that is exactly what had happened with me too. RM mentioned brokerage orally and told me that he'd fill it in later. Thereafter, my account was setup with default (much higher) brokerage. Fortunately, I had kept copy of every paper I gave them Plus had insisted that the visiting RM to write precise T&Cs on separate piece of paper properly.

About a week or 2 after I joined, RM told me that he had quit CD Equi and joined IIFL. He wanted me to switch but I refused but my brokerage at CD was set to default rates. With few months of phone calls and follow up headache, I was able to override and get the agreed value.

Then ODIN charges were sprung on to the account from nowhere. Whats

most interesting is that the day on which charges are seemingly applied, they had emailed me a proper ledger statement. There was no ODIN charges on it at that time. It was added later but with past dates...

Another minor issue was with ODIN training. At first, when they offered to send person to my place, I was very surprised. Appointments were set. CD Equi insisted that they had sent a person to training but no one actually showed up.

Now, they've switched to NEST trader.
 
#9
hi

thanks.people are ready to share their experiences.

Inside news is CDEQ will become bankrupt if they stop the malpractices.
One solution is
take them to consumer protection council in your city.
write letters to leading newspaper and let cdeq answer it on the newspaper.

Write to SEBI

WRITE TO NSE

do something.
 

akhill

Well-Known Member
#10
hi

thanks.people are ready to share their experiences.

Inside news is CDEQ will become bankrupt if they stop the malpractices.
One solution is
take them to consumer protection council in your city.
write letters to leading newspaper and let cdeq answer it on the newspaper.

Write to SEBI

WRITE TO NSE

do something.
they are already bankrupt buddy. In Hyderabad, now no one trusts CDEqui and many other sub-brokers are in the verge of assaulting the office because of the dues. :lol::rofl::rofl:
 

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