SAMCO Consumer Complaints

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SAMCO is India based online discount broker. It offers stock and commodity trading at NSE, BSE, and MCX. SAMCO's NBFC arm provide the margin funding, loan against shares and other financial products. It also offers depository services (demat account) through CDSL. Incorporated in 2015, SAMCO is among the lowest-cost broker in India. SAMCO is popular for its ultra-low brokerage, margin products, higher exposure and free trading software. Customer who moves from traditional brokers like ICICI Dir... Know more about SAMCO

Complaint against SAMCO Broker

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Name:Phone
EmailCity
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Are you a day trader?

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

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

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

SAMCO Consumer Complaints

Exchange Financial Year Number of Clients   ? Total Complaints  ? %
BSE 2020-21 12,430 2 0.02%
NSE 2020-21 76,436 71 0.09%
BSE 2019-20 12,396 2 0.02%
NSE 2019-20 51,432 41 0.08%
BSE 2018-19 8,182 2 0.02%
NSE 2018-19 38,901 21 0.05%
BSE 2017-18 11,907 2 0.02%
NSE 2017-18 29,595 22 0.07%
BSE 2016-17 5,438 4 0.07%
NSE 2016-17 18,176 19 0.1%
BSE 2015-16 1,938 3 0.15%
NSE 2015-16 8,256 8 0.1%

SAMCO complaint at NSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year
No. of active clients764365143238901
No. of complaints received *714121
Resolved through the exchange593021
Non actionable **720
Advised / Opted for arbitration100
Pending for redressal with exchange490
No. of arbitration filed by clients22
Decided by arbitrators in favour of the clients21
Decided by the arbitrators10
Pending for redressal with arbitrators01
% of No. of complaints as against No. of active clients0.090.070.05
% of complaints resolved as against complaints received94.3678.04100

SAMCO complaint at BSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year2213819039164623
No. of active clients12430123968182
No. of complaints received *222
Resolved through the exchange222
Non actionable **010
Advised / Opted for arbitration000
Pending for redressal with exchange000
No. of arbitration filed by clients000
Decided by arbitrators in favour of the clients000
Decided by the arbitrators000
Pending for redressal with arbitrators000
% of No. of complaints as against No. of active clients0.020.020.02
% of complaints resolved as against complaints received100100100

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

Contact SAMCO

Name:Phone
EmailCity
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Are you a day trader?

8 Comments

aditya
8. aditya  Apr 13, 2020 23:32 I Like It. | Report Abuse Reply 0
if u cant solve my problem please close my account..
dinesh goswami
7. dinesh goswami  Oct 11, 2018 10:56 I Like It. | Report Abuse Reply 0
very poor service maximum showing error when market is down trading is not possible
no one pick the phone

Thinking of wind up as soon and try other provider
Manisha Ranjan
6. Manisha Ranjan  Apr 21, 2020 13:04 I Like It. | Report Abuse Reply 0
Dear SAMCO official,
SAMCO site and mobile app both were non functional on 20 Apr 20.
I had sold 5 crude oil (May) , my crude oil stoploss was at 1880.
Firstly the site remained down for more than an hour. I tried my best by calling customer care, logging through SAMCO site, but it was down everywhere.
But when the site was functional, it showed my 5 crude oil buy at 1955.
You can't imagine this loss.
When my stoploss was at 1880 how come it got triggered at 1955.
I request you to resolve this issue and adjust my stoploss at 1880. Many other friends of mine who are using other app / broker for trading had a stoploss at 1880 only.
Kindly respond.
Thanks
Please don't let
Team Samco
6.1. Team Samco  Jan 19, 2021 14:17 I Like It. | Report Abuse 0
Greetings Sir/ Madam,

Today, we have reached out to you regarding your review/article on our organization, Samco Securities. Unfortunately, the information available on the review/ article about Samco is not up-to-date. We can assist you in updating your content, if you could give us the opportunity.

We would like to take this time to inform you that we have made several changes to our websites and services since this review/ article was published. If we could have a moment of your time, we'd like to elaborate on those said changes so that you have updated information on our organization.

What's happening in Samco now:
Launch of new platforms trading and investing platforms like the improved StockNote (the trading platform), StockBasket (the long-term mini-portfolio investing platform), RankMF (the mutual fund investing platform).
Implementation of several unique products in the market like SmartSIP, SmartSwitch, StockBasket SIP, and many more.
We have expanded our organization's strength and performance quality which has resulted in several clients meeting their service expectations.

Besides these, we have updated our services on many fronts.

To properly demonstrate the improvements made to our organization's service quality, we would like to schedule a call with you guys.

We request you to kindly share your contact number and a convenient time so that we can arrange a meeting with one of our managers to help you understand the Samco ecosystem.

Looking forward to your email.

Regards,
Team Samco
Mahesh Das
5. Mahesh Das  May 26, 2020 13:52 I Like It. | Report Abuse Reply 0
Dear Samco Team,

Client Code - DM33199

This is regarding one of the transaction done for Yes Bank for 11190 shares. I have sold my holding of 11190 shares on 12th May. However, the stocks again reappeared in my holding on 18th May. This was the second time happened with me in the stock notes application. Earlier when I called Samco customer care they clearly told me that whatever showing in Holdings should be considered the current status of the stock as sometimes the transactions get rejected during settlement and sell doesn't goes through.
So I was already frustrated that the sell for YES bank didn't went through in my previous sell order and again I was sitting with the same 11190 shares in my holding. I again tried to sell on 18th but as the order didn't executed as price never reached what I set.
Again on 19th I set the sell order and it got executed at price of 27.75. I thought now the episode of Yes bank is closed as it was showing 0 in my holdings next day. However, again on 21st May, I noticed in my watchlist the yes bank quantity was showing negative 11190 and nothing in holding. So this time got totally frustrated and called the customer care. They put me on long hold and finally came up with the explanation that there was technical issues in the stock note application and I had no stocks on 19th May. The 11190 stocks shown in my holding was wrong so my sell order was considered as short sell and it went into auction.
First of all in Samco notes application, it will not allow to sell any stock if its not in your holdings. I always do the CNC order as I don't play in intraday. Also I don't do any sort of futures/options etc. At this moment I am at a loss of around 6000 INR as the stock went into auction and during settlement the buying price was around 28.82. Also the margin went into negative 310522 INR which is outrageous. Whatever I am selling in my holdings its going against this negative margin and I am left with nothing. This is not only completely stopped me for any trading but also increased mental tension.
I sincerely request Samco Officials to reimburse my loss as I don't want to take any loss due to the technical issue of the application. Please understand that we put our hard earned money through you and your application considering your prowess in market. Its a complete breach of trust in such cases of glitches with no proper handling of customer issues.
I will not hesitate to take this case to further escalation if it will not be addressed in swift manner.

Regards,
Mahesh Das

Rohan Jalapur
5.1. Rohan Jalapur  Jan 11, 2021 20:08 I Like It. | Report Abuse 0
"Dear Customer,

We hope that you're doing well in such a nationwide crisis.

Today, we have reached out to you with regards to your review on our organisation Samco Securities. We truly understand that we have failed to provide you great customer service.

But, we'd like to inform you that we have made several changes in order to make the customer service experience more delightful. Below are a few pointers on which we'd request you to have a look at.

We agree that we were short on our employee base which resulted into a bad experience for our clients
All our lines used be occupied most of the times which had a poor impact on our customer support experience

Changes bought in the past 2 Years
1. Update in our mobile application from StockNote to StockNote 2.0 in which we have worked on the feedbacks given by our clients
2. We have expanded our employee base which has resulted into several clients meeting their service expectations
3. Launch of new platforms like Stock Basket, Rank MF.
4. Implementation of several new products like Smart SIP Plus, Smart Switch, SIP Plus, Option Plus

Request you to kindly consider the above pointers & assist us with your contact number so that we can arrange a meeting with one of our senior employees.

Looking forward to serving you soon."
Avinash d talele
4. Avinash d talele  Jul 6, 2019 12:23 I Like It. | Report Abuse Reply 0
Samco is playing mischief with the clients , they have squared of. The positions repeatedly and they don't even receive the call I have payed the price , i am discontinuing from Samco hence forth .readers please be care full and stay away
manish verma
3. manish verma  Sep 9, 2017 23:40 I Like It. | Report Abuse Reply 0
WILL SUGGEST ALL INDIAN AND WORLDWIDE INVESTORS TO SAY AWAY FROM THIS FRAUD/CHOR COMPANY .DONT GET INTO THESE TRAP OF FRAUD ADS BY SAMCO...
Bimal Kumar Bimal
3.1. Bimal Kumar Bimal  Aug 10, 2018 08:03 I Like It. | Report Abuse 0
My trading code is DB20545.
I have to say that the service of the. Co. is very poor. They have added excess clients but their staff are arresposible . Margin statement is sent to such clients ( like me) who don't utilize their margin. The staff do not reply satisfactorily.
Modiji must reply to me.
Bunny Kiran
2. Bunny Kiran  Apr 26, 2018 16:36 I Like It. | Report Abuse Reply 0
The new StockNote app of SAMCO securities is truly awesome. I've used a couple of trading apps over the years but this seems unique in comparison to those.
I'd recommend SAMCO and its app to all my friends.
Cheers!
asheesh kumar
1. asheesh kumar  Oct 31, 2017 02:55 I Like It. | Report Abuse Reply 0
dosto samco me kabhi account open mt karwana .inka customer support bahut bekar h.call karoge to koi bhi phone receive nhi karta.
Response from Samco Help Desk
1.1. Response from Samco Help Desk  Dec 30, 2017 09:00 I Like It. | Report Abuse 0
Mr asheesh kumar , for your Query, May I request you to inbox me your Client ID/ registered Mobile number to assist you further. query@samco.in

Thanks & Regards,
Team SAMCO








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