I am a customer of Aditya Birla Money - Broking Account. They lured me offering one of the cheapest broking rates. I was gullible & signed up on the face value. Later I realized the trap I’ve gotten myself into.
1) The so called ’competitive rates’ were applicable only above a certain trade value & even that was very high (atleast ~ 35000/trade for delivery based), otherwise they had a minimum brokerage that you will have to pay. (This was hidden & not told upfront from their sales guy)
2) For every trade they are charging some arbit 10 rs for DMAT account. I was not paying that with my ICICI Direct Account.
3) They imposed an arbit charge of 750 Rs on my commodities broking account when I was told that this account is going to be free lifetime & there is no charge
4) There guys keep me calling - Sir aaj yeh lele aapke account me - yeh stock badhega etc. I was shocked coz I never gave any permission to them to trade on my behalf or I never asked for their suggestions. Whenever there is money lying in my account - they used to give me a call. Once I acted on their recommendation but the action did not yield any result and the stock came down within 1 month
5) Their call center setup is probably the worst I have ever come across. All of those guys have predominantly crude south Indian accent. Their knowledge about the AB Money or broking business is probably less than my mother. Those guys were never trained as how to speak with a customer. Guys did not know about what a NCD is. Infact the system does not allow you to trade in NCDs. WHAT A SHAME!!!.
6) UI does not have a portfolio feature. It’s a pain to track your gains and losses. Though their is a feature for IPOs but screen shows blank even when good IPOs were open. I never expected this kind of unprofessional service from such a reputed AB Group. The company does not stand to those standards. Please stay away from Aditya Birla Money.