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SAMCO 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

SAMCO brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the SAMCO customers. The SAMCO 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 Complaints

Exchange Financial Year Total Complaints Active Clients
BSE 2021-22 1 10,273
NSE 2021-22 21 79,157
BSE 2020-21 2 12,430
NSE 2020-21 74 77,173
BSE 2019-20 2 12,396
NSE 2019-20 41 51,432
BSE 2018-19 2 8,182
NSE 2018-19 21 38,901
BSE 2017-18 2 11,907
NSE 2017-18 22 29,595
BSE 2016-17 4 5,438
NSE 2016-17 19 18,176
BSE 2015-16 3 1,938
NSE 2015-16 8 8,256

SAMCO complaint at NSE

2021-222020-212019-20
Active Clients791577717351432
Complaints217441
Resolved through the exchange136430
Non actionable272
Advised / Opted for arbitration010
Pending for redressal with exchange629
No. of arbitration filed by clients2
Decided by arbitrators in favour of the clients2
Decided by the arbitrators1
Pending for redressal with arbitrators0

SAMCO complaint at BSE

2021-222020-212019-20
Active Clients102731243012396
Complaints122
Resolved through the exchange122
Non actionable001
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

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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10 Comments

10. Manisha Ranjan  Apr 21, 2020 13:04 I Like It. | Report Abuse Reply
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
10.1. Team Samco  Jan 19, 2021 14:17 I Like It. | Report Abuse
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
10.2. Sudesh Kumar Srivastava  Jul 29, 2021 11:35 I Like It. | Report Abuse
Dear friends..
Complaint seems quite impractical..I am not favouring samco.. dont have any relation so far with samco.. But Stoploss orders are recorded immediately in exchange records. Broker app is only the medium. It dont store your orders. if you would have positioned a stoploss order of 1880 then you should have checked if it is successfully positioned. and once positioned no chance if it was not triggered.
yes if due to downtime of broker app you could have not positioned stoploss order then it is another issue and u should proceed to take damages fro broker.
another thing that stoploss orders only valid for day.. if u want to secure your positioned then u should daily put stoploss orders once market open
9. Xavier  Jul 17, 2021 13:56 I Like It. | Report Abuse Reply
Too many Hidden charges.
Samco never notify or reflect in ledger for any charges which is against SEBI regulation. I am going to raise this issue with exchange.
8. Vijay  Jul 15, 2021 09:25 I Like It. | Report Abuse Reply
ANGEL BROKING is the best one...
Samco is worst ever ,
Technical Glitch off the time, this fraud will charge for fund transfer 6 rs plus gst every time. Their phone will busy all the time, no value for customer , arrogant behavior all the time. I'm with my 11 friends are going to close the account with this scarp.
7. aditya  Apr 13, 2020 23:32 I Like It. | Report Abuse Reply
if u cant solve my problem please close my account..
6. dinesh goswami  Oct 11, 2018 10:56 I Like It. | Report Abuse Reply
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
5. Mahesh Das  May 26, 2020 13:52 I Like It. | Report Abuse Reply
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

4. Avinash d talele  Jul 6, 2019 12:23 I Like It. | Report Abuse Reply
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
3. manish verma  Sep 9, 2017 23:40 I Like It. | Report Abuse Reply
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...
3.1. Bimal Kumar Bimal  Aug 10, 2018 08:03 I Like It. | Report Abuse
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.
2. Bunny Kiran  Apr 26, 2018 16:36 I Like It. | Report Abuse Reply
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!
1. asheesh kumar  Oct 31, 2017 02:55 I Like It. | Report Abuse Reply
dosto samco me kabhi account open mt karwana .inka customer support bahut bekar h.call karoge to koi bhi phone receive nhi karta.
1.1. Response from Samco Help Desk  Dec 30, 2017 09:00 I Like It. | Report Abuse
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