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Choice Broking Complaints

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Incorporated in 2010, Choice Equity Broking Pvt. Ltd (commonly known as Choice Broking) is a Mumbai-based full-service stockbroking firm. Choice broking is a subsidiary of a publicly listed financial services firm named 'Choice International Limited' that was formed in 1993. Choice Broking offers online trading and premium financial services for an entire range of financial products like Equity, Derivatives, Currency, Commodities, Mutual Funds, wealth management, Portfolio management, Insuran...

Complaint against Choice Broking Broker

Choice Broking brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Choice Broking customers. The Choice Broking complaints report analyzes the Choice Broking online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Choice Broking broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Choice Broking complaint no. report also provides Choice Broking’s number of active clients. This shows the growth of the broker year on year.

Choice Broking Complaints

Exchange	Financial Year	Total Complaints	Active Clients
BSE	2022-23	3	43,070
NSE	2022-23	116	211,464
BSE	2021-22	9	20,738
NSE	2021-22	57	253,785
NSE	2020-21	36	67,804
BSE	2019-20	2	13,492
NSE	2019-20	29	32,854
BSE	2018-19	1	5,157
NSE	2018-19	19	22,350
BSE	2017-18	2	7,594
NSE	2017-18	15	14,882
BSE	2016-17	2	3,105
NSE	2016-17	15	6,520
BSE	2015-16	2	1,540
NSE	2015-16	4	3,360
BSE	2013-14	1	1,265
NSE	2013-14	1	633

Choice Broking complaint at NSE

	2022-23	2021-22	2020-21
Active Clients	211464	253785	67804
Complaints	116	57	36
Resolved through the exchange	97	52	30
Non actionable	8	4	2
Advised / Opted for arbitration	0	0	0
Pending for redressal with exchange	11	1	4
No. of arbitration filed by clients	1
Decided by arbitrators in favour of the clients	1
Decided by the arbitrators	1
Pending for redressal with arbitrators	0

Choice Broking complaint at BSE

	2022-23	2021-22	2019-20
Active Clients	43070	20738	13492
Complaints	3	9	2
Resolved through the exchange	3	9	2
Non actionable	1	0	0
Advised / Opted for arbitration	0	0	0
Pending for redressal with exchange	0	0	0
No. of arbitration filed by clients	0	1	0
Decided by arbitrators in favour of the clients	0	1	0
Decided by the arbitrators	0	0	0
Pending for redressal with arbitrators	0	0	0

Note:

* Including against its sub brokers, authorised persons, employees, etc.
** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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14 Comments

14. KIRAN LULLA

| Link|Oct 17, 2022 2:37:44 AMReply

I just recently opened my Demat account with Choice India. Never done any trading before & Mr Ajay from Bhopal Branch was calling me again and again & has forced me to put money of 35k. After putting money he called & asked to share Id & Password as he told that if his team call me for guidance regarding buy and sale & if I will be unable to answer the call than my Account will get block. And he told that don't worry leave your account operation on me & I will give you Good Profit. On 1st Day he Done lot of Intraday Transaction of Buy & Sell without my Consent which resulted me loss of 12k on 1st Day. On next day morning he was appolosing for loss & forced me to put more 25k so that he can recover yesterday loss & I added the amount, but again he done lot of Indraday Buy & Sale transactions which again resulted into loss of my Money again on 2nd Day & the loss was higher than 1st Day...In 2 days My loss was 45k out of which More than 22k was brokerage charges which is 50% of amount. This is how he cheated me & operated my account by doing lot of transaction of buy & sell for getting High Brokerage.

I think it's time to teach lessons to these people who misuse our Hard earned money. The only language they understand is Legal action & compaint in SEBI.

14.1. faizal

| Link|Dec 2, 2022 11:33:21 PM

yes it is the right thing to do man go ahead... its hard earned money after all

14.2. Saaleem

| Link|Feb 10, 2023 3:21:07 PM

They did this to me too. They speak like fa#kin robots and took 120 lots trade. Wiped out 3/4 of the account. All money went to brokerage. Told they would recover the account and gave three signals which were again in loss. Ass#oles dont even have 50% accuracy and claim a lot of thing. Always remember one thing. If you get a call from one of these states dont pickup and report them. States: Madhya Pradesh, Haryana, Punjab, Delhi, chhattisgarh, Rajasthan.

13. RAJESH VYAS

| Link|Dec 8, 2022 8:27:16 PMReply

Sir
I open account 3 days before and they fource me add 1 lakh amount and use theft my password and id without my consent and buy big lots and loss made and without my permission Order putting buy and sell and doing fraud and taking brokerage 15 k and 35 k and my money in 3 days zero how i recover my money i taken money from my friends and i am unable to answer my friend. Like this kind of fraud anyone please help me.
Plz plz plz

13.1. Vivek

| Link|Jan 11, 2023 5:13:41 PM

Are you raised a complaint regarding this in NSE

12. sachin

| Link|Aug 18, 2021 7:40:26 PMReply

they gave a trade to you to make small profit and then they will make incur a big loss and will say they have first made profit.
they don't accept if they say something wrong or give a wrong information

12.1. Santosh Kumar Sahu

| Link|Sep 22, 2022 8:16:35 AM

Choice brokar मेरे साथ 42000/ का फ्रॉड किया हैं बत्तीस हजार का ब्रोकरेज लिया हैं बीस हजार का शेयर खरीदने को बोला और उसमे तुरंत लॉस करवाया सुरूवत मे दो बार पंद्रह सौ का प्रॉफिट करवाया जबरदस्ती पचास हजार डालने के लिय बोला ज्यादा प्रॉफिट करवाना हैं बोल के फ्राड कर दीया एक सर हैं जिसका नाम राम हैं एक मेडम भी साथ में मिली हुए हैं udsinr 79000 का शेयर 0.0350 मे आठ सौ लॉट बाय करवाई और थोड़ी देर बाद स्टॉपलॉस 0.0300 मे तुरंत सेल हो गया मेरे से 32000 का ब्रोकरेज ले लिया गया मार्केट मे मेरा तीन हजार का लॉस हवा पर इन लोग ब्रोकरेज इतना ले लिय प्लीज हेल्प

11. SATYANARAYANA

| Link|Apr 17, 2018 8:59:34 AMReply

Choise people looking to making profits to make gambling the the customer s and they treating customers as fools.

10. Yogesh Chauhan

| Link|Jul 22, 2022 8:21:44 PMReply

Choice Company in very High brokerage charges I Lost my 20k . कंपनी के लोग आपको नए-नए ट्रेड देंगे और ज्यादा क्वांटिटी में बाय करने को बोलेंगे जितना आपका प्रॉफिट नहीं निकलेगा उससे 10 गुना ये लोग ब्रोकरेज चार्ज करते हैं। Don't try this

10.1. Sanjeev

| Link|Sep 15, 2022 3:55:05 PM

That's true. one of the most stupid folks are working...they are concerned for their brokerage only. they will eat all your money and you have nothing in hand in last. they work very unprofessionally. my suggestion to all just be away from this group and try others like banks..

9. Jash Tewani

| Link|Sep 20, 2021 5:22:13 PMReply

They are just fooling their clients by taking high amount if brokerage without letting us know.As. I am a student i just had 42K capital and i was forced to add more as i would get more profit if i had more said by their employee. then in one day 28K was deducted as a form of brokerage which is equal to lifetime brokerage of other brokers.They are not giving proper response also same with their higher level employees.Dont fall for the trap.I wont let them go that way will complain more at much high levels.

9.1. Vishal singh

| Link|May 7, 2022 7:52:41 AM

Bro if u read this pllz help me they 50000 credit to my account without any information..... So what I hve to doo .plzz help mee

9.2. PRASHANT WAKODE

| Link|Sep 9, 2022 1:09:45 PM

i am also cheated by them i am going to take legal action against them.

8. Malati Dora

| Link|Nov 16, 2021 8:16:24 PMReply

They are the most fraudulent broking services. They give false promises and lure you to earn brokerage for themselves. Very high brokerage. They undertake unauthorised transaction in your account and push the losses. Most fraudulent broker i have witness. They have employed a bunch of fraud who carry out such activities
Req1003

7. Radhika

| Link|Nov 8, 2020 2:03:34 AMReply

lam trading 2days brokerage is very very higher per lot 100 rupees choice Broking

7.1. TEJAS VIJAY RANE

| Link|Jan 28, 2021 9:12:09 PM

Same with me they are cheaters.inform to everyone.

6. Tejas Rane

| Link|Jan 28, 2021 9:09:20 PMReply

They charged inr 100 per lot..guy alert everyone and i am not only the first person. Inform to everyone.they are cheaters..we need to take step ir we need to file complaint against them.

5. B thombare

| Link|Jul 31, 2020 10:04:28 PMReply

Mala eka divsat 63000 ru Brokrej aakarla va maza Purna d. Mat maynas madhe ghatle aani aanche partnar brokar jabrdusti ne aachakade account open kartat ani Brokrej cha navavr luttat

4. Digvijaay Sharrma

| Link|Jul 4, 2020 3:39:11 PMReply

I opened the acc abt 2 mnth back but due to there unprofessional and very bad research tips i lost abt 65k in just one month and when i asked Sumeet Bagadia abt this in a tweet with respect he just blocked me. This is the way they treat there client just imagine if a MD can insult his client this way what abt the other employees. I request every1 dnt go with tall promises which sumeet bagadia ji do on zee business.Ground reality is 0.

4.1. RK

| Link|Jul 4, 2020 6:22:01 PM

All are false and misleading messages here..Choice is not a company what ppls are saying below.they are greedy dogs and every company having some loop holes.what about karvy..did you learn a lesson..how big brokerage house that was..Even all ppls are not happy with god..choice is best company,yes having some issues but all that issues are in safeguard of clients and for their help only..Stay with good broker..charges are no matter..

3. Hari Krishnan

| Link|Jun 23, 2020 7:26:34 PMReply

Choice Equity Broking is the worst share broker I have ever come across. They charge charge excessive brokerage and hidden charges every time you make a transaction. They are a fraudulent company who try to steal your money the moment you start your account with them. They don't have anything called customer service, your calls wont be picked up and your emails wont be replied. Its a disgusting share brokerage and a fraudulent company that should be banned by NSE. I regret starting my account with them and they gave me the worst experience in my life. Pls do not invest in Choice Equity Broking.

2. Lenny Sebastian

| Link|Sep 18, 2019 4:23:53 PMReply

I have an account with Choice. But I have not been called by their personnel even a single time during the last 2 years. I have investments of lakhs of Rupees in shares else where because there you are a given a personal touch and instructions are smoothly undertaken. Here I am unable to get even the contact nos from the website. very unprofessional of them.

1. Arun H

| Link|Aug 8, 2017 2:59:52 PMReply

Choice Equity is completely unprofessional company to deal. I would request investors to stay away from this company. They make tall promises till the time an investor invests money and then they play around with your money as per their whims and fancies and worst is they do not keep you updated or call you before taking a call on your behalf.
Despite sending reminders and emails there is absolutely no response. Had a meeting with their Vice president Mr. Viral Shah as well, As expected he promised to get back after consulting his seniors but then he left the organisation and when contacted he said he is no longer responsible. The directors of the company are inaccessible and least concerned about your loss. I shall be taking this up with SEBI though I know its going to be long battle. INVESTORS BEWARE OF CHOICE EQUITY IS ALL I CAN SAY