Angel Broking Complaints & Reviews

I have trading account with Angel Broking, Cunningham Road branch, Bangalore. My Client ID is S116575. The office staff of Angel Broking executed several trade transactions without my consent and made a huge loss. They have also forged my signatures. I reported this matter to their Mumbai head office. They just closed the complaint without addressing the problem. I complained to NSE and SEBI also to provide the proof of placement of orders. But till date, neither of them have addressed the problem. I filed a case in Consumer Forum, Bangalore. I have also filed a Police complaint for the forgery done by them. In Consumer court, everytime they were trying to refer the case to Arbitration. It is good that the case is being upheld by the Consumer Court. Because of Consumer Court and Police complaints, Angel Broking has offered me the settlement of Rs. 4.5 lakhs. But the actual loss is huge, I have responded back with appropriate compensation. Whoever has suffered a loss due to the illegal activities of Angel Broking, they can file complaint in Consumer Court. In most of the cases, the matter was being rejected mentioning that the case does not fall under Consumer forum. There are several cases including mine, where the case is dealt by Consumer Court and it is not rejected or forwarded to NSE Arbitration. For more information, I am reachable on mobile [protected] at Bangalore. Following is the list of Office staff of Angel Broking, who is involved in illegal trading and forgery. 1) Sreenivasa Reddy, Operations Manager, Cunningham Road, Bangalore 2) Venkat, Karnataka Region head, Cunningham Road, Bangalore 3) Jicky Thomas, Vertical head, Cunnigham Road, Bangalore 4) Raghavendra, Trader, Dismissed by Angel Broking for illegal trading 5) Mahantesh M Menisinkai, Branch Manager, Dismissed by Angel Broking for illegal trading 6) Hemangi Date, Mumbai branch.

Your Rep Samuel Nadar from Angel Broking (Samuel.[protected]@angelbroking.com) fraudulently opened an HDFC Current acct and now its been almost 3 months and they are not closing it. I asked for Information about the person whom can give me the signature and they are not providing me the same. I have been emailing you guys from last 3 months and yet they have not closed. Their [protected]@angelbroking.com should Ideally solve my issue, but they have not been reverting. I have all the documentary evidence against them. My Angel Broking ID is A83946.
Thanks,
Amit Bhosle

Hi, Need your help against Angel Broking. Their Rep fraudulently opened an HDFC Current acct and now its been almost 3 months and they are not closing it. I asked for Information about the person whom can give me the signature and they are not providing me the same. I have been emailing them from last 3 months and yet they have not closed. Their [protected]@angelbroking.com should Ideally solve my issue, but they have not been reverting. I have all the documentary evidence against them. Please help as there might be more ppl like me who have been fooled by them. My Angel Broking ID is A83946.

Client id: b37942

Hi
My rm is pankaj who was not trade my acc properly cause of his irresponsiblity i lose my 70000
After this i m decided to open new acc in trustline sec. Ltd they give me a best service they have charge minimum brokrage now i m happy ...
Becoz they give me a gud returns .

Rahul/jatin
[protected]
[protected]

angel broking harras customers . their complaint/feedback system is quite delay in response and even when they response it seems like automated-answer.

2nd don't trust them/their adviser their staff. they make false claims and fool you.
i had cash market a/c with them in 2011 . 400rs taken for a/c opening. i contact the person working in angel and he said it will be given back.
then in may he i told him that i wanted F&O [future and options] for that i had to submit only a form.
but for that same person from angel told me to open new a/c . i opened new a/c which was not a necessity.
400rs gone again + visiting the branch cost me 100+ rs : he again said i will get it back. [he certainly got commision for new a/c]
what is surprising : when you close an a/c they call you. person from angel called me and asked why i wish to close my a/c and i told him the reason . he said i have to just submit a form . i told him that person from angel said all this to me. it was all clear to him that "the person" wanted to earn commission . yet my a/c was closed in 4/5 days.

that is all past. what concern me now is that i wanted to close a/c and even submitted the form . the DP [demat debit] WAS pending in my a/c and again because of their fault i got this 337rs charge. i paid it. cheque was encashed the same day and a/c still is not closed.

and today got a mail said i am charged another DP fee of 337rs

when i visited their branch this 28th november. the lady/employee worker there checked and it was only 337rs pending which i paid. [ i was already in conflict over this illegal amount charged by them] and now new DP charges are made.
the same employee said no new charges gonna be apply on me.

4th of december got message that they have started to process my a/c closure form. 7th day from the submission
30 of november they charge DP. clearly they wanted to rob me again.

don't trust these ppl/this complany who not even know about BSDA which is clearly mentioned at their website
as well as a rule from august-2012

i have few legal options in hand and i am gonna use them in future for the benefit for all us innocent-customers

Always invested in MFs coz i thought they were safer. Now that the markets have been above 20, 000 for a few months started to use angel’s trading platform since friends have told me it is good. First impression – its is easy to use and though encountered a few issues in login, customer support team is very helpful in my queries. feel confident about my new journey in the markets.

I am having Demat account with ANGEL BROKING. I bought 500 shares of RANBAXY on 19/10/13 around the price of 347 rs. Shares were sold on 20/10/13 on the price of around 305 rs without my consent and I have to book unwilling loss. I have not been called and informed about the trade. Before making any trade company has to take my confirmation but my cofirmation was not taken. I lodge the complain to ANGEL BROKING. I got the reesolution but not satisfied with the resolution. I escalated my concern with ANGEL BROKING and waiting for one more resolution. Till now I did not get resolution and I called many tilmes to ANGEL BROKING. But I ded not get any response from the company. More than one month passed. Plese help me. If you want more details I will provide all the details. Thanking you.

I bought 500 shares of RANBAXY on 19/10/13 around the price of 347 rs.
The advicer has sold the shares on 20/10/13 on the price of around 305 rs without my consent and I have to book unwilling loss.
I have not been called and informed about the trade.
Before making any trade he has to take my confirmation but my cofirmation was not taken.
I lodge the complain to ANGEL BROKING.
I got the reesolution but not satisfied with the resolution.
I escalated my concern with ANGEL BROKING and waiting for one more resolution.
Till now I did not get resolution and I called many tilmes to ANGEL BROKING.
But they are telling my complain is in process.
More than one month passed.
Plese help me.
If you want more details I will provide all the details.
Thanking you.
Mob no. -[protected], [protected]

I having client ID : M74675 with Angel Broking, for last 2-3 years. I want to lodge an official complaint against Mr. Suyash Rathor, for using my money without my knowledge, financial mis-management & breach of trust & communicating false information about my Trading Account, committed cheating against me. His act cost me loss of Rs. 85400 in cash. I want this amount back as soon as possible. As per our knowledge & information, on Date : 22th May 2013, we had Account balance of Rs. 38000, Mr. Suyash Rathor, who is My Equity Dealer, had asked me that – he will trade on Expiry Date, which is on 30th May 2013, to recover previous losses. For Expiry date trade he requires Rs. 50000 as sum, for One day ( 24 hours), apart from my Account Balance as Rs. 38000, we were given impression that with another Rs. 50000, our Total Account balance would be Rs. 88000. Rs. 50000 would be returned, after Expiry date trading, for that particular one day, Profit / loss conditions are explained to me, and I was told that an amount of Rs. 50000 would be returned as per promise. On Expiry date trading I had incurred Loss of Rs. 2500, So From Rs. 50000, loss deducted & remaining amount Rs. 47500 was expected to be returned, I had not asked for further trading after 30th May 2013. After Expiry Date Trading, when I tried to get my Amount Rs. 47500, Mr. Suyash Rathor told me that cheque of this amount would be prepared in 1-2 days, for this purpose Mr. Suyash Rathor had posted a request at Head office for preparing a cheque, and this cheque will be handed over in person by Mr. Suyash Rathor, that does not happened for some days as 1-2 weeks, again I tried to get my remaining amount as Rs. 47500 from him, He told me that this amount would be credited directly into, My bank account by Angel broking – Head office Mumbai. This does not happened for another 1-2 weeks. After this period, I had started communicating with him on phone, he persisted that I don’t need to come at Indore office, he will come to my home to show all transactions with ledger. This again not happened for long time. My husband called him & talked to him in straight terms then he reveled that my account balance is having Rs. 6900 only as on today as 25th June 2013. By his confession we lost Rs. 31000 in days between 22nd May 2013 to 28th may 2013, then again lost Rs. 47500, after Expiry Date Trading. These trading were not done with my consent. We were told all trading is been done from Rs. 38000 as our regular account balance. Mr. Suyash Rathor has misled me, given false assurances, used an amount with improper trade practices, and utilized amount without my knowledge & thus makes his act as committed forgery. Now I want my money back as Rs. 78500 ( Rs. 31000 + Rs. 47500 ) in full & I want to close my account with remaining amount of Rs. 6900 also. Thus makes as total – Rs. 85400. This entire amount would be paid to me within fixed time. Now we had encountered with some crucial & hard facts of our account later on. Such as – From 22nd May 2013 to 28th may 2013, My account balance as Rs. 38000 was utilized and made only Rs. 8000. Trading pattern was not disclosed to me, and regarding Account balance I was repeatedly told that Account balance is as Rs. 38000, in fact it was reduced to Rs. 8000, This was not revealed to me till today as on Date – 25th June 2013. Mr. Suyash Rathor had made a promise that Angel Broking will pay entire due amount, and he will make sure that my amount will be returned to me. I want a clarification regarding this promise, whether this is true in sense or false, and company is ready to pay this amount ? Till this matter is not solve, ensure this fact that Mr. Suyash Rathor will not leave this company. Now I want action to be taken as soon as possible. If steps are not taken properly, then I will be forced to consider various legal options against an individual & Angel Broking. Mr.Vikram and Mr.Deepak somali is know all the issue but he is not cooperate with us.so plz solve my issue.

My customer ID is R76950.

I am really disturbed and request for legal help for taking strong actions against Angel broking for the following matters.

1. They did some transactions in F & O and Metals without my consent and also continued even though I have asked them to stop.

2.No reply to my numerous complaints to their website so far.
3.Wrong branch (Far from my house) is assigned to me and the same is not changed despite my repeated requests.

4.All the tips given by thier experts are dubious.

Never ever go for Angel even though they offer you a free account.

D.Rajeev

1. No systematic assistance of the fund management and in fact all the tips advised them are only for their personal commision and seldom results in profit (like invest in NIFTY or metal commodities) as they have handed over me to their dealers which seldom have knowledge and inclination to make our investment profit oriented,

2.No support after opening of account about usage of their online softwares.

3.They have assigned me to two different dealers very far away from my residence and office although there are near by Angel dealer at Gotri.

4.No reply received to my complaints eventhough reply within 24 hours is promised.

5.Even no assurance even after visiting their office at Sayajigunj.

4.Do not invest through Angel.....

Angel Broking are cheating to customer. they are fraud to client and dis- honest. first they promise to customer that they will carry forward there position to next day and when the client traded and before a minute of market closing. they called and said that there is shortfall amount in your account and need to square- off position means whatever your open position you are carrying you need to close same
they are doing for their brokerage charges I am really dis-satisfied with Angel for such type for cheating with customer

today, Camp branch manager(may be named Chetan Phatak) has played to me same. he forced me to buy future/option lot and he had forcefully square off that position. Apart from that he has spoken with me very bad and rudely word. this is never expected to me anymore and i never think about that how could speak such branch manager with customer. he doesn't know to how to speak with client. moreover he himself loosed my all interest for trading with Angel.



Thanks,

Nilesh Nimje
Client ID : J37142
Contact No : [protected]

Hello ,

I would like to complain about angel broking company.

I think this is one of the biggest fraud company in India and it cheats its customers.

My Client Code is R55392.

While opening the account - an agent promised me that if I don't do any trading using this account for 6 months then the account will be automatically closed by angels broking back office team.

Its been more than 2 years now I have not used this account and I suddenly get a bill stating that this account is active and there are huge charges for my account.

I would like to take a strict action against Angels broking and would like to highlight this since I am very much sure that this company might be cheating with huge number of customers.

Would like to issue an advise to all the customers to not indulge with any trading activities with angels broking and close there accounts since either today or later they will be cheated as well.

Many thanks

Hi,

Writing the consumer complaint after I tried my best to negotiate deal with Angel Broking. They do not care of any loss to small investors as they think they cannot do anything, because they have huge money and consumer are helpless.

My Angel broking client code is C17029, they were good till cash market is concerned, they told me about F&O, and on 21st May they did trade of Bank nifty ( I asked them what would be my max looss or gain), and soon after they did another transaction which has brokerage amount of 2K and loss of 48K, I was totally lost and could not work in office. After that all the sweet talks happened not to DENY the trade confirmation call and after one week they even didnt pick my phone and emailid : [protected]@angelbroking is worst.

I know nothing will happen; Angel Broking will write over here to contact on customer care and they always give good excuses. I tell all the people to unite and fight against this fraud company.

I was dealing with the person Sandesh, his contact info is : [protected], who did all sweet talks and then suddenly disappear.

I AM NOT SURE HOW CONSUMER COMPLIANT SITE WILL HELP ME or it is just to give heart one relief.

I have invested at angel broking at moth of march 2012 . they have done wrong trisection made me loss of 25,000 just in seven days . every days agent was telling me that i am in profit 300-500 Rupes . but suddnly he didn't called me at 7th day. hence i have call then he replies that i have lost my money . i have escalated to matter to all authority every body told the the all the matter is trusted . i will not get my money back I was new no body is ready to listin .


There are some wrong transaction I had seen, as per my conformation the profitable transaction are seem in loss.
& if I was In loss they why advisory call was not happened.

Still I am fighting to get my money back . but no body is responding .

kindly suggest .

I have sent mail to EPFO grievance and also sent reminder 7 times but till not recieved any kind of reply from the PF office.


reminder 7
Dear Sir
I have applied for my PF withdrawal from ANGEL BROKING LTD more then 12 months back but still i have not received any credits towards the same.
I was able to check my PF status previously which was under process but now even the status is reflected as blank or no status.
I request you to kindly look into the matter and help, since i need the funds urgently.
My pf Ac. no for your reference is MH/[protected].

Reagrds,
Bhavesh Panchal

I opened an account in Angel Broking about 2 months ago, thinking that it is a reputed company ( after such cheap and dirty tactics used by them I dont think that the company is REPUTED any more). The sales representative of the company told me brokerage was charged @ 0.03% for Intraday and 0.3% for delivery based transaction initially. And since I have opened account initially with Rs 25000, they told me to reduce the brokerage to 0.02% and 0.2 % respectively within one or two days. We aslo asked about the minimum brokerage per trading day we have to pay. They said no minimum brokerage rule is there. However on checking the contract note it was found that they were charging @ 3 paise per unit (and not on turnover) on maximum of the stock. They also charge minimum brokerage many times. I brought the discripency in the notice of the company very first day. Firstly they have said we have send letter for approval. Then thereafter they are befooling us by giving us irrelevant excuse (which later on they refuse itself). But no action was taken for full month. Meanwhile I lodge complaint at head office . The complaint was forwarded to Indore office. On talking with Indore Branch Manager, they told that there is a pressure on Sales man to sale the plan , hence they mis sale you the plan (if you know that sales man are befooling the consumer and then also taking his side, this means he already has knowledge about such type of cheap and dirty tactics used by there sales representative). And afterwards they told me that your complaint is resolved (without taking any decision or action). Still the problem is unresolved. As I am very new to Stock market , I request the reader to suggest to lodge complaint against company in Small Investor Protection Forum or to SEBI or file case in Consumer forum.

I have open the FO account with Angel Broking on my first trading day they peoples are cheated me and charged 36000 brokerage and they said me i have earned profit 2400 for the day.

i asked the broker people for make some small trade and guide me how it works. but the they made the high volume of trading for earning high brokerage i.e. on the day one.

NIFTY Oct 25 - 5500 PE –B 5000 -18.94
NIFTY Oct 25 - 5500 PE –S 5000 -17.81
NIFTY Oct 25 - 5600 PE –B 10000 -35.04
NIFTY Oct 25 - 5600 PE –S 10000 -35.72
NIFTY Oct 25 - 5900 CE –B 10000 -31.36
NIFTY Oct 25 - 5900 CE –S 10000 -31.27
NIFTY Oct 25 - 6000 CE –B 5000 -13.27
NIFTY Oct 25 - 6000 CE –S 5000 -13.70



Dear Friends Beware of these frauds.


Krishna.
[protected]

Iam the ex-employee in the Angel
broking ltd Vijayawada branch as a Back Office Executive and
Investment Advisor in the time between[protected] my pf
account numbers MH/KND/211262/2829 AND MH/45503/17423

Last Feb month applied for the pf in the 100/-Rs stamp
indeminity bond submited to Vijayawada branch.


E40282 send date 07 FEB 2013 and other E33912 send date 13 FEB 2013.

My employee id's E33912, E40282.


so kinely give me the status as soon as posible. i am followup from the last 3 months but no responce so kindly give the justice.

I am writing this as a warning to any new investors with angel broking, remove your money from their accounts because they will take you for a ride. I started trading at angel broking in 2012, andheri branch. mumbai. For a while their service was good, they gave me good tips and everything. then on october 26 my broker tells me to trade in f and o. I tell him I am not interested sas i have no knowledge on the same. Without telling me they did trades worth 44 lakhs in my account and lost 1.2 lakhs in a single day. The next day i get a call from the broker telling me that i will have to sell my shares to clear this debit. I am young and dont have this kind of money. thats really not the point here. these people are unscruplous and will lie to you and cheat you. I lost my hard earned money because of these guys. Please dont make my mistake