I have plenty to write in negative and nothing really to write in positive about this company.
Worst customer care service. If you have some doubt or need help they reply so curtly that hardly your problem gets solved. If you complain something through email they just don’t respond as if they don’t exist.
There systems and softwares are a mess. I recently opened a commodity a/c and requested for password. I was given 2 different passwords and none was accepted. I requested again the third one also was rejected. phone calls were not received if at all received on couple of occasions they were deliberately disconnected. I wrote for closure of account. no one responded.
I wanted to open forex account as well and I stressed upon this several times before opening commodity account. But, that sale executive just kept saying ’yes’ until my account was opened. When I enquired about forex account which wasn’t there at all, he told me it needs to be applied separately and you will have to deposit certain huge amount, etc. Why he could tell this in advance? He just wanted add another customer to his target with an unwanted account.
3.In my equity trading account I had some amount and I did not trade or do any activity except for login in and watching the market for 1 week.But in this one week, I was watching, some small amount was being deducted everyday. Upon enquiry no one has any reply.
- Appart from above troubles I received a biggest blow from Karvy. I had short sold Orbitcorp shares (intraday, of course) but the share price increased; so I was waiting till the end of the session for the price to come down. Unfortunately, there was a power cut just before square off time.But, I thought, anyway system square off will be executed. But to my dismay I found those short sold share in my account next day and trading them was blocked. When they were auctioned on 3rd day orbit corp share price had rallied another 25% and I was screwed for Rs.40, 000/- When enquired no one answered properly. In stead I was warned to pay the amount that was short in my account because of this faulty trade.
KARVY IS WORST. I STRONGLY CONDEMN IT. THINK 10 TIMES IF YOU ARE PLANNING TO OPEN ACCOUNT WITH THEM. IF YOU HAVE ENOUGH MONEY TO LOOSE YOU MAY GO AHEAD. KARVY IS A DAYTIME ROBBER.