First, MyUniverse issues mutual funds which include its brokerage on transactions and profits(regular) while better websites issue zero brokerage(direct) funds. I learned it the hard way.
Almost nothing works well on website, and doing a transaction may take hours.
MyUniverse does not support shifting portfolio to other websites.
The faulty website also does not allow redeeming ELSS funds even after they have completed their locked-in period. Also, the site initially confirms the transaction as success, but sends a transaction rejection mail after a week. It’s either a really poor work, or a dirty tactic to hold portfolio funds on website.
I recently decided to move my funds to Paytm Money because of the first two issues, but could not do that. So, I decided to redeem units and re-invest using Paytm. Initially everything seems to work well, but after a few days I got a message that my request failed.
Now, I have no option but to