User Review: TradePlusOnline

I have had the worst experience with TradePlusOnline among all the brokers. These guys don't work ethically at all.

First, they have 2 different accounts. The usual trading account and another is their SMP (Subscription Management a/c).

If by chance / mistake you sent money from trading account to SMP a/c then the same amount can't be sent back to Trading a/c
JUST GUESS how much do they charge to reverse the transaction !!!

ONLY Rs 200 !!!
(You will come to know of this only once you want your money back in your trading a/c or in your bank a/c)


Rs200 of your own money to transfer from your own smp a/c to your own Trading a/c

MOREOEVER, if you want this money back in your bank a/c then again you have to pay them Rs200/- as transfer charges !!!

This is not over yet....

2. If by chance you want to subscribe for a new service.. they will go and charge your Trading a/c even if you have more than twice the needed amount in your smp a/c !!

When you complain about it and ask them to reverse that transaction.. the amount is sent back to SMP a/c and not Trading a/c.

Which means to get your money back in your bank a/c you will have to pay Rs200 for no reason !


3. This is a very unprofessional company. They do not have internal processes in place. They "misplaced" my account opening forms after they had received the courier and asked me to send same forms again...

4. Later, when i asked them to start equity segment they asked for my Client Master (registration) Copy (proof of demat a/c with some other entity). I was in regular contact with them through out !
NEVER did they once mention that they need the CMR copy duly signed from my depository as well.

Then why the hell did they not say it before i sent it to them !!!

This has been a pathetic experience.

NOW, Look at my post here which has remained un-replied for a long time.

5. When i asked other folks on traderji about their experience of NSE NOW, their and my experience did not match. So, is TradePlusOnline using some "modified" form of NSE NOW ??

My orders are never accepted in one go. I keep getting prompts. "Yes / No" etc..
NOW keeps asking for "Authentication Password" abruptly.. especially after i have just entered a trade.

It locks machine when not used for a prolonged period.. but that's not the password window i am talking about.

It has become impossible to use such chaotic system.

It is highly recommended for all traders to ensure that they have experienced zerodha or rksv or any other broker's service before they ever think of tradeplusonline.

I am closing all my accounts with tradeplusonline.