I have been using HDFC securities demat trading account with online trading integrated with my HDFC saving account for last 8 months. During this period I didn’t find its services attractive, mostly because they are not user friendly at all. Their brokerage rates are same as many other brokerage houses so here also they don’t have an edge and with Reliance coming with aggressive pricing it actually lags behind on that front.
They also lack support in providing good market research and reports to help their investors and traders. Perhaps only good thing about HDFC securities trading account is the seamless integration of online trading account, Demat account and Savings account (if it is with their bank).
But the biggest problem with this trading house remains its customer service and nothing can explain it better than my own experience with HDFC sec. The problem I had was very naive one - "I forgot my account password and requested for a new one."
I still cannot understand why I need to submit this request by email only and by no other way. Bewildered I followed their instructions and put a mail in this regard on 17th August 2007. This was followed by some phone calls to customer care by me and sure enough repetitive mails to send my password with no avail.
Today when I am writing this review its 18th September 2007 and yet I have only gained is loss of numerous opportunities in this months bull market and have lost my peace of mind thinking about other trading houses which can give me a good customer service.
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