I have been trading through SMC GLOBAL SECURITIES LTD - Bangalore Agent for the past 10 months. The service is very very poor.
I have invested 50, 000 and opted to get a payout of profits on Trade everymonth.
Not even a single penny I have received from this agency.
The first part is SMC Global securities - very irresponsible, immature and unethical people to be in the field of Trade.
Second the people who are working for this SMC just represent the top management, a foolish, shameless, unethical staff.
Be careful with the guy named Shrikant(Shrikant S Bhairgund). He is a useless guy who has no knowledge about sharemarket. He got introduced through Just Dial when I wanted to trade. This guy begged me to trust him and made me invest the aforementioned money.
I absolutely had no knowledge of the trade. This guy contacted me and explained as though he was the master of this Trading. But frankly he is not worth for even to trust and give your Rs.100/-.
If you introduce your friend by chance, he helps to collide each other’s ego by playing games like, your friend has invested 1 Lakh, why do not you invest the same sir, to get a good profit. And then he says the same to your friend. Luckily myself and my friend were really communicating well with ourselves, and found this guys plot. I strongly say against this guy and the SMC GLOBAL SECURITIES LTD.
The manager for this guy is Vikas. He hardly answers your queries properly.
To be frank, my 50000 has now become 7000 with no major downfall in share market. And not even a month he gave me a single penny as payout. Am still struggling to recover the money.
The reason is:
1. These guys dont have any knowledge about the market. Not even to the extent that they can read Economic Times and paper / information like this.
2. Basically they are not passionate about the Trade market. This guy who trades with you gets some commission based on the transactions he makes so the SMG Global gets the profit on your trade. So what ever it is, this guy sells and buys with out caring much, but which makes profit for the company and inturn for his commission.
3. They take leave very frequently, that they are not available at the important times and miss out on oppurtunities.
4. These guys are learning from your money. I would better say, you loose 10K from your money and you learn rather than other person learning trade from your money.
I have even escalated to the manager but no one cares. The guys are busy in just getting the registration and collect money. Thats it. They forget and you too forget your investment. Its gone.
Bottomline: DONT INVEST WITH SMC GLOBAL SECURITIES LTD
The reason why I am angry about the SMC for the things done by their staffs are:
When I raised a complaint(its a big big process - takes around 3-4 days of turn around time) SMC Global Securities just routed me to another useless guy called Pradeep who is the manager for Bangalore unit(awefully shame - he does not even know proper trading terms)
SMC Global Securities did not take any action at all. Instead they started their first communication with "Trade is subject to market risk ."