EDELWEISS broking ltd - False marketing and cheating fraud on brokerage

 
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User
  Jaiganesh K
Respected Sir,

I am Jaiganesh.K from chennai. I opened a prepaid brokerage online share trading account with Edelweiss Broking Ltd. on 11-March-2010. The amount that I paid was Rs.4,950/- through HDFC cheque # 228334.

I have been completely given false information such as Securities and Transaction tax (STT), additional brokerage of 1 paisa per share along with service tax and all other charges everything are included in the prepaid brokerage amount i gave (i.e., Rs. 4,950/-) and I would not get any further charges. When i made a couple of trading I found that the product i was offered was inferior and the also that the above mentioned charges are levied in full.

I was canvassed and cheated by their marketing team leader Mr. Raju (Cell phone Number +91 9551090808 , email: raju.n@edelweiss.in) along with the tele caller Ziya Naaz.

As a stepwise approach I contacted the helpdesk and also talked to Sales Manager Mr. Srikanth (Cell phone number +91 9841041188 and Landline 044 42899116, email: s.srikanth@edelweiss.in) and explained all the above patiently and he wanted me to wait for couple of weeks and I did waited and found that he was helpless for me. Then I wanted to go ahead for the account closure.

Still now they are not closing my account and giving back the remaining unused prepaid brokerage.
This is a transparent cheating case.

I would request humbly to take severe actions on Edelweiss broking Ltd. and help me come out of them.

Thank you,

Jai Ganesh.K
Complaint comments 19 Comments     Updated: Respond To Complaint  

Comments

 

False transction in my trading account - Trust Online

sir,
im doing share trading with K A Securties sub broker(Trust Online). They chit me with about rs 1 Lakhs. They do transtions in my account by their own and made me loss of rs 90,000. please tell me what i do. i did not give them any order or ven does not give any authority.

regards

vikas aggarwal
flat no 1, ex blok
alaknanda appt
rampuri
surya nagar
ghaziabad
india
 

fake services - EDEL WEISS

HI,

I am ABDUL RAZZAK from Hyderabad, 15 days back I have recieved a call from your company for opening a online Trading Account, but due to some Documents pending I could not able to complete the Process, But I have given my friends reference to your Team Leader Mr. Ajay, he has taken all the necessary documents and explain the brokerage structure infront of me, I was very much excited and thought to open an account as early as possible.My friend has open an accout with you with client code 311552

But after 15 days I came to know what type of services you have, because Mr. Ajay told that if we make the initial payment of Rs. 4950 I can buy the call & put option with the brokerage of only Rs.1 per lot upto 80 lakhs of turn over, but the picture is completely different, its seems that you people are only interested making fool to the clients and not responding, because we were calling Mr. ajay from last 3 days on his mobile no.9000440054 but he is taking our call, we also complaint on your customer care but till now there is no response, I thought EDEL WEISS is the esteemed organisation but in Hyderabad I came to Know that many people has been cheated by your company,

We are doing the business from last 5 years with religare securities but till now we never face such types of problems and I am forwarding this mail to more than 2000 nse members, so that in future they can be stay away from your poor company and poor services.


ABDUL RAZZAK
 
I AGREE WITH YOU ABOUT YOUR COMPLAINT AND SUGGEST YOU NOT TO TRADE WITH EDELWEISS BROKERAGE AND ALSO INFORM TO ALL YOUR FREINDS AND RELATIVES NOT TO TRADE WITH EDELWEISS
 

careless company -bad service - Edelweiss Ltd

Absolutely useless brokerage firm, do not sign off. I had a bad experience which is shared. All documents collected by person along with payments cheque of Rs 4950/- The amount has been taken from my bank account. The trading account is still not enabled after 3-4 months. Helpdesk - poor folks , do not know the reasons. After calling, the guy says his office has lost all my original application form, id , photo and proof submitted with 47 signatures on Edelweiss form.

The name of this executive is not specified , since he will end up loosing his job. If i do not get this resolved in the next 2 weeks, this complaint will be in atleast 50-100 blogs and executive name will be also in the list of wanted by Police and he will surely loose his job.

The account never worked, since this guy has lost the papers somewhere.
His name starts with Raxxxxxxx. He is intern of Koramangla branch of Edelweiss retail investor branch who tries to get HNI investors in their fold.
 
I AGREE ALL THE BROKING FIRMS ARE SAME. I HAVE THE SAME EXPERIENCE WITH ANGEL BROKING. THEY MISGUIDE COMMON PEOPLE JUST TO MAKE THEIR OWN PROFIT. THEY DONT CARE WHETHER U MAKE MONEY OR LOOSE. ANGEL BROKING IS THE WORST I HAVE COME ACROSS, THEY ONLY GIVE WRONG TIPS AND MAKE BROKERAGE. THERE GOAL IS ONLY TO OPEN MORE FRANCISE, BUT THEY ARE VERY POOR IN CUSTOMER SERVICE. I WOULD ADVISE NOT OPEN ACCOUNT WITH ANGEL.

THKS
 
I do strongly agree with you and dont trade with the world biggest cheaters Edelweiss. Representatives of the same are trained to tell lies and after collecting our money they wont repond to us and the customer Service is the worst one i Had ever seen.

regards,
kannan
 
Yes I strongly agree. Edelweiss is cheater and money eaters.Representatives and customer care wont respond properly and very pathetic service. they deduct money and sell your shares without any prior notice or intimation to the customers. Please dont go for edelweiss.
 
Edelweiss is fraud ! cheater ! Service very bad ! Dont open account in this company !
Company emppployee very very foolish !
 
persist with your current broker.all agencies are like that only.
 
The biggest cheater in the trading arena. I suggest no one to ever trade with them. A big NO for them.
 
I AGREE WITH YOU ABOUT YOUR COMPLAINT AND SUGGEST YOU NOT TO TRADE WITH EDELWEISS BROKERAGE in CHANDIGARH ALSO AND ALSO INFORM TO ALL YOUR FREINDS AND RELATIVES NOT TO TRADE WITH EDELWEISS.
There open the account with Zero fees and when u tranfer the money then they deduct the money from your account without any prrior information.They are just breaking the trust in the market.No any information is transparent.
 
My account code is "EX601070 " with edelwisse. I opend accounts with cheque of INR 2450.
after open new account i added some fund into my account. but after some time edelwisse
cut INR 2450 from my accounts again. After discuss with customer care executive, he inform me that your first INR 2450 cheque
is bounced But after review my statement i found that cheque is cleared,

I don't understand why edelweiss cut INR 2450 from my accounts. I tried my RM contact number but always phone number not working
.

I suggest all user don't open accounts with edelwisse, they are fraud.

virender
9871970778
 
very fraud Company is edelwisse. sab ke sab chor hai...I am very much Disappointed with the services. thay cheatered with me not only one time. my story is
"My name is Govind Vijay. My trading Id is EX433251. I want to make a complaint against one of your employees his name is Devesh. He is from Jaipur branch. He did false commitment with me. I believe You have my recoded calls while making the order. Please check he forced me to buy Suzlon Energy 500 share under T+5. He did not tell me after 3 days my stock will sell out automatically. He assured me you can keep this stock with you at least 5 days. According to him I was planning to transfer my fund tomorrow. When I call him today to get the status of suzlon then told me your stock has been sold automatically.

First thing “why he told me that you can keep this stock at least 5 days.”
Second thing “ just only for his incentive why he does false commitment to their clients.”
Third thing about his behave “ he is not able to make the relationship with the valuable clients.

This is the kind of impression you are caring with your clients. I am very much disappointed and this is not a first time this thing is happening with me. In our company we have more than 500 employee who have accounts in Edelwess. I will tell all of them if you do not take any action on him.
 
This is continues happened in Coimbatore Branch – Edelweiss Financial Advisory Ltd
Branch Head SriRam Madavan duty only blaming customer money collect more advance Brokerage with out client knowledge .Also he regularly doing PMS client money. Also doing some other activity in side office .Don’t open any ac in Coimbatore edelweiss money not safe also some illegal activity going on
 
Hi,
13th Apr I logged the complaint about revert back the amount 500 rupees to my DMAT Account. (Reasons of reverting back the money, I already explained to the customer care executing). And I received the call from Edelweiss Customer Service and she promised me that, within 24 hours they will revert back my money which has been deducted from my ledger balance. But, when I checked the balance, they had made my ledger balance 0 (since it was -88 before) but the amount which they deducted (Rupees 500) is not credited to my account. I am really very disappointed from your service.

Credit the amount to my account as soon as possible. If that is not possible, then pls deactivate my account.

I do not want to request the same to the customer service team again and again.

Regards,
Sudhir M S

my account number:
SUDHIRSHAKTI
 
All are same. You can use 'scores.gov.in' to log complaint to SEBI.
 
I closed my account six months back but still i receive statements and email as maintenance charges are pending.

i have documents that can prove them wrong and i am waiting for them to take me to court.

Edelweiss is one of the worst company in INDIA and still doing business of fulling people.
 
I am also a victim of Edelweiss Broking services. They deducted over Rs 11700/- from my account with edelweiss on various charge heads which were not there when I opened the account. Now they are refusing to refund that amount.They are grave financial cheaters by all standards.
Friends beware before account opening with edelweiss. What the edelweiss agent says and commits, edelweiss will deduct money fraudulently without intimating you.

Regds
Sanjay Singh
Edelweiss Account ID- 1008489
M-9818306779
 
I agree...Edelweiss deducted Rs 11700/- from my account towards DP and other charges...although their representative told that there will no maintenance charge if you trade with advance brokerage option. Edelweiss Financial Services is grave cheater and I do not recommend anybody to trade with his hard earned money with Cheating houses like Edelweiss.

BEWARE WITH EDELWEISS FINANCIAL SERVICES.

Regds
Sanjay Singh
Edelweiss Account ID- 1008489
M-9818306779

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    EDELWEISS broking ltd - False marketing and cheating fraud on brokerage

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