I’ve been trading regularly with IIFL from last 8 years & i’ve opened this account in 2006 by paying 555 & I’ve been assured of lifetime AMC free demat account, however starting July 2014 IIFL started charging monthly AMC towards my demat account. When inquired about this to both RM & customer support the response is company policy has changed. I am following up with both customer support & RM on almost daily basis to resolve this issue & finally my RM has agreed to refund my 555 but I am yet to revive it. Even recently they started charging some INR 30+ for physical delivery of contract notes. Moreover their customer support is pathetic & it takes more than 3-4 days to respond to your queries & on the top of that my RM never responds to any emails sent to him.
I am going to close my account with them once I receive my INR 555.
I’ll suggest to my fellow friends to stay away from IndiaInfoline.