IndiaInfoline

neo1599

Active Member
#1
The worst experience I have had is with this broker.

Can someone who is using their TT terminal guide me a little with regard to:

When I do my PL calculation(based on trade by trade data with me) it comes much higher than they are showing.

My account has had the RMS fiddling about on 2 occasions and I can see the second entry on the books but the first one is nowhere to be found.

Can anyone throw some light on this.

Also any broker you guys would recommend.
 
Last edited:
#2
HI
THANKS FOR THE BIOTTER TRUTH.

IN hyderabad indiainfoline office,
three guys named kesav,sridhar,subramanyam
do this job-they change brokerages to 5 times higher and sometimes levy unwanted charges and steal clients money.
Want proof?

Want more info,visit www.clientcomplain.com
find evidence and proof.
complaints were sent to indiainfoiline vice president but he was least bothered and was encouraging corruption and illgal money tealing in their business.
thieves galore!!!!!!!!!!!!!

STAY AWAY FROM INDIA INFOLINE. RECENTLY THEIR STAFF GOT ARRESTED AT ZAHERABAD FOR CHEATING-

CLOSE YOUR INDIA INFOLINE TRADING ACCOUNT
COMPANY STEALS YOUR MONEY AND BLAMES IT ON FRANCHISEES WHO ARE HELPLESS.
 

neo1599

Active Member
#3
HI
THANKS FOR THE BIOTTER TRUTH.

IN hyderabad indiainfoline office,
three guys named kesav,sridhar,subramanyam
do this job-they change brokerages to 5 times higher and sometimes levy unwanted charges and steal clients money.
Want proof?

Want more info,visit www.clientcomplain.com
find evidence and proof.
complaints were sent to indiainfoiline vice president but he was least bothered and was encouraging corruption and illgal money tealing in their business.
thieves galore!!!!!!!!!!!!!

STAY AWAY FROM INDIA INFOLINE. RECENTLY THEIR STAFF GOT ARRESTED AT ZAHERABAD FOR CHEATING-

CLOSE YOUR INDIA INFOLINE TRADING ACCOUNT
COMPANY STEALS YOUR MONEY AND BLAMES IT ON FRANCHISEES WHO ARE HELPLESS.

Can't say I am surprised.

After the fiasco I decided to ask them to explain a few things to me. They are yet to get back to me, almost 2 weeks now.

Their RMS has to be the dumbest ever, they manipulate client positions(has happened to me twice) and pocket difference/brokerage on reinstatement of position. Unless you are a trader wit the time, resources and dilligence to constantly mail and keep at it, going as far as to contact MCX(they can't do anything in the case unless arbitration is required), they will not give you the difference between close and open of said position.

INDIAINFOLINE is a BUCKET SHOP as well as a CON.

Please refrain from using this broker.

I am in the process of unwinding positions and getting the hell out of this POS broker.

Just FYI: their commodity desk is made up of 2 people in Delhi. Chances of calls not getting through/answered by RM highest as far as my experience with brokers go. The person concerned with your account(if your having a problem) will go on holiday, then his boss whom you spoke to, will go on holiday.

Rant over
 

whisky

Well-Known Member
#4
Hi,

We express sincere regret at any inconvenience that may have been caused to you. To expedite the redressal we request you to share with us your complete contact details at [email protected] clearly mentioning any issues you may have had. Assuring you of our best services.

- IIFL Customer Care team.
Jitesh,

Your regret looks professional, but I think you should provide your official IIFL mail id and not gmail id
 

whisky

Well-Known Member
#5
Can't say I am surprised.

After the fiasco I decided to ask them to explain a few things to me. They are yet to get back to me, almost 2 weeks now.

Their RMS has to be the dumbest ever, they manipulate client positions(has happened to me twice) and pocket difference/brokerage on reinstatement of position. Unless you are a trader wit the time, resources and dilligence to constantly mail and keep at it, going as far as to contact MCX(they can't do anything in the case unless arbitration is required), they will not give you the difference between close and open of said position.

INDIAINFOLINE is a BUCKET SHOP as well as a CON.

Please refrain from using this broker.

I am in the process of unwinding positions and getting the hell out of this POS broker.

Just FYI: their commodity desk is made up of 2 people in Delhi. Chances of calls not getting through/answered by RM highest as far as my experience with brokers go. The person concerned with your account(if your having a problem) will go on holiday, then his boss whom you spoke to, will go on holiday.

Rant over
Neo, your problem got resolved or not? Got any help from Jitesh?
 

DSM

Well-Known Member
#6
:)

Surprising coming from IIFL spokesperson.... IIFL charges more brokerage than in agreement. This can happen anytime.... A trader will not realize unless he checks each and every contract note. Be aware if dealing with IIFL. They are only interested in your money.

Will not be surprised if one day with this attitude, and completion from discount brokerages, they will have no business.

Hi,

We express sincere regret at any inconvenience that may have been caused to you. To expedite the redressal we request you to share with us your complete contact details at [email protected] clearly mentioning any issues you may have had. Assuring you of our best services.

- IIFL Customer Care team.
 

gmt900

Well-Known Member
#7
I had entered into currency derivatives PMS with IIFL in July 1012. I had to deposit a corpus of Rs 5 lacs and pay an upfront brokerage of Rs 25,000/-.
Lock in period was 1 year. At the end of this period , they have made losses of 3.5 lacs, mainly because of a horribly Wrong call on 25 June 2013.
They defaulted in keeping me informed by telephone call about the positions they were taking on my account, as they were obliged to do, although I got e mails which I did not access at the time.
About a month back, their VP in-charge assured me that they will come out with a plan (rescue package?) in two weeks. They have neither come out with a plan nor are they taking my calls . They don't respond to messages.
I don't know whether any other Traderji member has a similar experience.
I don't know what are my options.
 

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