[Resolved] Angel Broking — fraud and cheating charging 20% on top of brokerage charges

Mathiyazhagan Ayyamperumal

from Hyderabad, Telangana

Address:	Hyderabad, Andhra Pradesh
Website:	trade.angelbroking.com

I'm holding angel broking demat account, and trading more than a year.

I do buy/sell shares atleast 2-3 days a week. And the brokerage was normal.

Last month i verified my statement casually, and got shocked that all of sudden last 4-5 months they deducted[protected] ruppes each month on the name of dp charges. I sent a mail to agent several times they did not reply and they dont pick the phone

After a month, now they replied saying each transaction they will charge rs 20+tax as dp charges for every transaction of sale.

For example if i sell a 10 different shares of each 50 ruppes. They will deduct 200+ tax for the transaction value of 500 ruppes. This is 40% of my sale price. Hardly one could earn 8-10 percent as profit after holding a year, and this smart cheaters take 40% of invested amount on top of brokerage, and final outcome is we need to loose money

I had a demat account with other broker like icici direct they only charge.5 percent for buying & selling and amc around 700 per/year. No additional cost.

This guys are cheaters and charging 20 ruppes = tax per transaction is big scam.

Was this information helpful?

No (0)

Yes (0)

Dec 1, 2017

Complaint marked as Resolved

Angel Broking customer support has been notified about the posted complaint.

Verified Support

Oct 31, 2017

Angel Broking Customer Care's response Hi, We’re sorry to hear about your experience. Please share your client code and contact number with us, we will look into the same and resolve at the earliest.

Oct 31, 2017

Updated by Mathiyazhagan Ayyamperumal My Client id is: m94595 and Mobile no is: [protected]

Oct 31, 2017

Updated by Mathiyazhagan Ayyamperumal While opening of account, the representative motivates to trade the smaller quantity of shares, and inform that irrrespective of no of transaction the 0.28 percent or maximum cap of around 25 rupee will be the brokerage for buying&selling both together on each segment (BSE/NSE). But actual thing is they will deduct the brokerage and end of each month they deduct 2 other extra chanrges margina dn dp charges which they will never tell you. Each transaction they deduct 23 rupees, some case it will be 600 percent (like if you sell 1 share of 3i infotech you will get 4 ruppes but the commison will be 23 ruppes addition to the brokerage which is around 600 percentage of amount). Also they interanlly transfered the shares to pool account (i dont understand what it is) and they charge another 23 rupees for each transaction while selling shares 23+23 =46 ruppes addition to the brokerage on most cases while you sell the shares. And they never sent me the statement of shares transferred to heir pool account and the reason why it has been transferred, eventhouh i had enough cash in my account