India Infoline (IIFL) Customer Reviews, Complaints, Experiences & True Feedback
India Infoline Limited
Incorporated in 1995, India Infoline (IIFL) is the brokerage firm of India Infoline Group, a fastest growing financial services solution provider in India. India Infoline is listed on BSE (532636) and NSE (INDIAINFO) for securities trading.
According to me, it is the worst brokerage firm I have ever seen. I have made PMS with them for 25 lakhs. Later they started buying and selling the scripts, simply, without any analysis, buying for 500 for example and selling for 400. Funny right ? If you ask them, there reply is it is non-discretionary. I am not supposed to ask those things. They are doing it to balance the portfolio. Last year I came out of it. Do you know the whole summary. I got 70,000/- Rs. profit after 1 year. The government got 80000/- INR tax. And the brokerage firm made 1,20,000/-. To get this money, after closing PMS, I had to wait for 1 month around. Be aware of Indiainfoline. Never deal with them. They have totally unskilled people working over there. They buy shares for NRI, without knowing whether NRI can possess those share. Later bank sends an email saying that you have to square it off as I am not allowed to possess. Then it will be sold at lower price than that. But see in all the business the indiainfoline gets 0.5% brokerage while selling also and while buying also. Saale, humko bewakoof samajthe hai.
my a/c nmasub70 is with coxtiwn ,bangalore.In aug,sep 06, without my knowledge the RM engaged in daytrading in my a/c with huge volumes of 40-50 lacs per day resulting in a loss of about 2 lacs,he accepted his misdeed in front of branch manager.Co not bothered to reverse the entries, not responding to my querries
78. Harish A C Jun 16, 2008 10:29:58 PM IST | Reply
Poor service from Dmat account executive of Indian infoline,Already Dmat had been open but I have not got Login ID and Password from courier or executive,Morever Indian Infoline executive not picking call,How can I get Login ID and Pasword?
77. CHIRAG LUHAR Jun 06, 2008 3:14:01 PM IST | Reply
i want i p aadress of the online trading terminal by net not a soft ware. because in my office this iste is treated as a bann site so i an not able to open it.
Very Bad company. Had a problem where they sold off my shares without my knowledge and after I took up the matter with SEBI yet it took them one whole year to get things sorted out. I am so glad that I just walked away with whatever I could claim from them. Definately not worth putting your money in.
74. b m chandrshekar May 15, 2008 12:40:07 AM IST | Reply
i full agree with india infoline they have cheated me to a tune of rs 25000/- without informing they have sold the share in my account on day trading basis. and even after informing to sell the share they did not do in time and sold of all my shares to square of the balance of payment. my advise to all is please do not open with india infoline please
73. AISHWARYA RAI May 10, 2008 11:15:42 AM IST | Reply
I OPEN a A/C in share khan ltd. speedtrade cannot run my computer plz give helpful idea. all of wish you
72. subir Gautam May 09, 2008 1:13:15 PM IST | Reply
I have opened an a/c on 07 Feb 2006.it it amusing still i have not recd password.pl send immediately.
71. mohanjamkhedkar Apr 26, 2008 6:43:08 PM IST | Reply
Company always good , employees the person given to you answer. Your R M is total responsible all topic. So plz any where you open de mat account , so plz plz check who is your rm ,,,, is recently join( un knowledge person), it good or but character, RM"s given to you service, not company . so your rm is your friend , so plz care full , That topic, Thank you,
70. parag c shah Apr 25, 2008 9:19:40 PM IST | Reply
dear sir,i have open an a/c but still i have not recd password from your end. my clent id is 02807962 i have mail you also before but still i am not getting.i have opened an a/c on 31 march 2008.it it amusing still i have not recd password.pl send immediately.
India infoline is the worst trading stock trading company. No one should open an account in it. If you want to waste your money, you can open A/C with them. Anybody facing any problem must report to SEBI, NSE, BSE, through their website.
NEVER USE 5PAISA.COM OR INDIAINFOLINE. IF YOU TRADE ONCE A YEAR ITS OK.BUT FOR ANYTHING MORE THAN THAT STRICTKY AVOID. I DONT KNOW IF IT IS POSSIBLE BUT AM PLANNING TO SUE THEM FOR FORCEFULLY SHIFTING ALL THEIR CLIENTS TO THE NEW BULL$#@! TERMINAL. I COULD GO ON N ON ABOUT THEIR PATHETIC SERVICE...
Today i.e. on 07/03/2007, instead of selling the 30 shares of Reliance Capital in BSE, i sold them in the NSE (short selling) and i still hold the 30 share in my account, can this be adjusted for the said short selling.
Let me know at the earliest
kumar this mail was sent on 07, 08, 10, 11/03/2008 and i received this on 12/03/2008 at 12.47hrs
Dear Sir/ Madam,
Thanks for mail.
With regards to your mail, please note that you have done trading in different exchanges due to which we would not be able to adjust the shares short sold in your account. You need to transfer the undelivered shares in your account failing which an auction would be conducted by the exchange.
Assuring you of the best of our services at all times. Please get back to us for any clarifications.
this was my reply
I appreiate you lazy reply.
This is very ridiculious on your buisness part its pure case of cheating, as i have already informed you through the damn mails daily and that I am holding the 30 shares of Reliance Capital right from the day this short selling was done 07/03/2008 but, you have not substituted the shares and i had to give a cheque no: 098977. dtd 10/03/08 of ICICI bank in the morning on 10/03/2008 and in the evening i was informed by you executive that the shares were being purchased.
As I understand this transatcion is of T+2 and that is yesterday on 11/03/2008. So, i was confirmed that the india info bought the 30 shares of Reliance Cap and my existing would remain with my account. But, till last night before the TTA backup I have checked my account and the 30 shares of Reliance Cap were reflecting in account. Today, in the morning i am surprised to see that the 30 shares of Reliance Cap were missing and the additinal margin of Rs. 35,000.00 is being added. If this the case, why in first you made me pay Rs. 45,000.00 (chq-35000 & fund trans Rs.10.00), and deduct the shares simultaniously.
showcause and clarify this at the earliest i.e today and include the said 30 shares of Reliance Cap in my account before the closing hours of the market if not i am forced to take up the issue with the investors help line
no reply and again i sent the following mail today
You have not explained me why the shares were substituted today 12/03/2008 in spite of my cheque being cashed into your account yesterday 11/03/2008 as per your late reply, it is a trick (cheat) you played to fool me around me with my money and also confused your sub office at secunderabad A.P. It shows that you are least bothered atleast to satisfy your customer by reply hence, if there is alternative to mend your customer relationship i have to windup the services you and your Big indiainfo provides.
so pl anyone could advice me on the moral and legal aspects of the issue.
I rgret to say that the India Info has the good software but, the customer service (Mumbai)is worst, when ever or what ever you enquire you only get the debit intimation system generated and no doubt of yours is clarified. Thankfully, i have a good rapport at the local office (Secunderabad, A.P.) and i get a bit of helpful information
63. Praphul Kadam Mar 07, 2008 3:06:19 PM IST | Reply
poor, unprofessional service provider. If you do not pay for one day for one stock, they will sell four stocks instead of one resulting in many kind of lossess. they do not provide personalised service 5paisa has forcefully implemented TTADVANCE on all its users and has discontinued the TT5 software, totally ruining the overall business of most of their "TEHNICALLY EDUCATED" stock traders whether they do day trading or delivery based trading..... Now, we traders are forced to use the new TTADVANCE software since December 10th, 2007, which is totally impossible to do... and which is truly not an advanced software but a real worst software, a real slow one.
believe no one can trade through it... The data gets updated very slowly and the graphs rarely open up.... And when you go to apply moving averages on your graph, you find that the software has been coded in such a way that all moving average graphs will be shown in one common color... so that you can not distinguish between each moving average line....
very very worst software in india,there is nothing advance TTA.India infoline is One of the leading brokerage in india,but they are going with reverse gear.
If they continue TTA Software many clients will flyaway to other brokers! Also, i have to wait for a day, even after transfering money to do trading. Those funds are not immediately available.
I OPENED AN ACCOUNT WITH INDIA INFOLINE FEW MONTHS BACK IN DECEMBER 2007 BUT IT GOT ACTIVATED IN MARCH 2008.VERY POOR SERVICE......I OPENED IT WITH THE INTENSION TO INVEST IN FORTHCOMING IPOS IN THOSE DAYS LIK REL POWER, FUTURE CAPITAL, REC LTD ETC. BUT I LOST ALL THE OPPURTUNITIES BECAUSE OF POOR SERVICE.