I have seen many reviews of HDFCSec for cheating in margin trade. Hardly anybody had earned from Margin trading due to heavy brokerage, hidden calculation and dominant cheating.
Here’s two more examples on same line. If you are existing user then keep verifying your statement. New comers must stay away from HDFC Securities.I will explain my two recent issues, so you can take care for your cases.
[1 : Margin issue]========================================
I purchased 80 shares of XXXXX in Margin and sold same day with profit of 80Rs. Gross. If I calculate max brokerage as per their conveyed fee structure, Net profit should be Rs 20.But at my shocking surprise it’s Rs (-16).They levied Rs 102 as brokerage..!! They splitted my sale order and charged for both transaction. So In total, I paid brokerage for three transaction instead of two transactions.
I struggled with Customer care for explanation, after five mails back and forth they come up with solution **"This is our system."
If this is the system, nobody should do margin transactions from HDFCSec, untill they removes glitch from their super system.
*I have stopped Margin Trading completely from This System.
[2: Security locking issue]====================================
I purchased 10 shares of XYZ company on 5th May. On 6th may, I wanted to sale same shares. But site gave me error that I do not held same shares. If I don’t hold then how my money got deducted? I kept trying to sale, but I could sale on 8th may only. However, I loose opportunity at good price.
*So please take care.....Don’t trust blindly... Check your transaction details regularly. I am not sure you would get any rectification, but you can utilize my learnt lesson.