Motilal Oswal Complaints & Reviews

I am writing to lodge a formal complaint against Motilal Oswal Financial Services regarding unethical practices, unauthorized trading in my account, and refusal to issue a refund for unused services.

Details of the Complaint:
I subscribed to their TGS/EDUMO Plus service by paying ₹50, 000 after being assured by their representative that they would trade on my behalf in the Equity F&O segment and recover the subscription...

Dear Sir/Madam
I was purchased TGS Software in the month may 2023 from Motilal oswal.The employee prasant who was called over phone & told me you will make money in our recommendation stock.This Software will give you good stock & index option chain recommendation. After installing the software..i was just checked butthere was no recommendation on stock & index option chain.I have also till Date no trade executed. So I had requested...

I hold a demat account with Motilal Oswal. Never trust advicros from Motilal Oswal as they give you false commitments and make huge losses. My advisor started trading in options and started making losses. When iI exhausted the money to invest, he made me pledge all my shares and trade. Further when losses continued, he said purchasing TGS will help in consistent and accurate trades. All this while this advisor kept losing my money with losses...

My Self (Mr. Sushant Chavan) I had book a 2 flat at Karrm Infrastructure Pvt Ltd at Shahpur Project on 11.10.2015 on that I had complete all the document Process with Builder & that time total value of both the flat was 8, 57, 536/- & that time while booking I had paid 3, 47, 029. & i had not apply for any loan on that time I had told builder however the work will happen I will pay the amount. But till now nothing work as happen.
br...

I had joined through a MO broker and he let me into huge losses and left, even after that my two accounts were getting annual charges for recommendations from broker who had already left. After complaning to MO team multiple times no action is taken and whenever I do followup the account manager gets changed. Now they are just adding interest daily to my account.

Very unprofessional behaviour and unhelpful firm. No respect...

Last month I tried to open an demat account through Motilal Oswal. In the process of opening account I realised that its too complicated and buggy so I stopped and uninstalled the app, from then the call agents from motilal oswal started calling me 3-4 times a day and annoy me. I disconnect the call as soon as I know they are from motilal oswal. Its been over month now they are still calling and annoy blocked about 10 numbers but it didn't...

My client code EAOPE95560. I closed my account on 06 July 2020 and also received the confirmation from customer service executives of Motilal Oswal Financial Services Ltd twice of my account closure. I sent physical account closure form by post twice to corresponding office and also to the registered office of motilal oswal.
Now their executives are also confirming that my account is successfully closed but I am still receiving the...

My name is Prasanth Kannan and my client code is (KP2627) in motilal oswal. I have joined the motilal oswal 1 year back(Dec 2019) and till now i am happy with motilal service. Iam totally new to trading and stock market and i have zero knowledge on stock market. So i willing to take some course in Motilal. Last week (jan 30 2021) i got a call from MO sales team regarding some MO product. I Cleary insist i have interested only learning course...

Client I'd..NT0434

Name...Sheshappa Chinga Mendon

Old email id... [protected]@gmail.com

This is with regards to few unauthorized transactions done in my demat account without my notice.

In the month of August there are 2 times sale of HDFC bank shares (1).51 Shares. (2) 159 shares are been sold without my authorization and permission.

I was shocked to see such kind...

Dear sir/madam

This is to inform you that my self avadhesh a. Gupta and i have been booked two flats with karrm infrastructure karram panchatava phase-2 at shahpur.
During the flats booking it was a mutual understanding between me and builder (Karrm infrastructure) that i will pay monthly emi against booked flats via cash or cheques.
One day i got a call from their (Karrm infrastructure) representative that they...

Hi all,
On 10, 01, i have received the below message regarding the redemption

"dear investor, your redemption transaction submitted in motilal oswal multicap 35 fund - direct growth under folio no [protected] has been successfully processed. Motilal oswal mf"

As i haven't instructed any redemption so i immediately call to the customer care center where he guided my to drop the mail to [protected]@motilaloswal.com,...

I got a call from a mo agent the very next day i opened a mo demat account and he told me that they have a software which is over 80% sure to get good returns else i could give him a call over his personal number. I listened to him patiently and suddenly he told me that i would have received a otp and i need to share it with him to attend a training about that software. He also told me that money @ of 7 k would be debited from my account...

I opened account with MOSL 20th, January 2017. At the time of account they informed me that no money will be kept locked total amount I can withdraw at any time so I added 1 lac rupees and on 23rd November I want to withdraw money for my personal requirement but they locked 50k as margin amount that I cant withdraw without informing...!!! When I contact customer care they informed me that management has decided new policy regarding this ...!!!br...

Team,

I am reaching out to you seeking resolution for the unprofessional and inefficient advisory services provided from the MOSL advisory team for trading in F&O segment. These trades were taken by strongly convincing me of positive market moves and most of the times to recover the losses in previous trades.

The first trade of this spell started in the month of May 2023 which was taken by Emanuel; he forcingly convinced me to take the trade and made losses of INR 30, 000. Post which senior associate from their team promised to recover the same and again made losses of more than INR 1, 00, 000. Then this spell continued and various members from the team constituted together to shave off my savings of the last 10 years and put me in the dearth of losses of INR 17, 00, 000.

This is a serious concern and has to be dealt with utmost importance as I lost all my life savings due to poor services, inefficient trade advice and false promises. I equally own the responsibility of agreeing to their convictions and putting my trust with the firm. I have failed due to the team's poor performance and unqualified analysts.

I am sharing this on this platform to seek resolution and action on this as this isn't normal. I have been trying to resolve this with the firm itself but they disgracefully have been delaying this from last 2 months. If your market performance is this bad and inefficient, then I don't know how you are still trusted for managing the funds. So far, 99% of the trades have been loss making and I can't digest this even if the market is strangely volatile; in my case, we didn't even have adverse volatility to impact the trades.

I entrusted my money, time, and energy to this organization with the expectation of professional guidance and support. Unfortunately, my experience has left me profoundly dissatisfied. Meanwhile they also offered some resolution which I reject and also warn to take legal action on this.

Financial Reversal Offer: I cannot accept the proposed INR 60, 000 reversal in response to a substantial loss of INR 17, 00, 000. This loss was primarily due to what I perceive as inadequate insights from your research team, the presence o[censored]nqualified staff, and a lack of awareness among team leads. This situation has caused significant distress and financial hardship.

Handling of Complaint: My dissatisfaction is further exacerbated by the handling of my complaint. It is deeply concerning that the individual against whom the complaint was made had the authority to close the complaint on behalf of the grievance team. This has raised questions about the fairness and integrity of your practices, which I find deeply troubling.

Seeking Resolution: Regrettably, I have been left with no alternative but to consider legal actions, including filing an FIR against the advisors (Ruchika, Bhumika, Rohan, Sandeep) and your firm, as well as pursuing this matter through legal channels and social media platforms. This decision has not been taken lightly but is driven by the belief that my concerns and financial losses have exceeded acceptable limits.

I sincerely hope that this matter can be addressed promptly and to my satisfaction. I trust that your firm will take this matter seriously and take appropriate steps to rectify the issues I have raised.

Worst brokerage company

For the past weeks, I have been trying to withdraw my money but it kept writing errors, I advise everyone not to put their money on this site and if you have your money stalked with you can as well reach out. If not for ( w w w. Glowban circuit .Tech ) i checked .. They were the ones who assisted me to get my funds back.

I have been a customer with Motilal Oswal for 5 years and have made a profit of 11, 000rs. One day I get numerous calls from one of their agent named Hritik Sarvaiya saying he will help maximize profits and addressed me as his mom and said will take care of my money as his own. The next day I get numerous calls again asking me to ‘pledge’ my portfolio. As a layman I did not know anything about this nor was I informed of the same. At 4pm I get a call saying that my entire lifetime savings of 4, 50, 000 has been wiped out. He made a loss of 2, 50, 000 and charged a brokerage of 2, 00, 000. In 5 hours my savings of 5 years have been wiped out just to meet some sales targets of theirs. The names of the agents Divyaang, Prachi and Hritik Sarvaiya. Please help me recover anything or at least the brokerage amount.

Myself sudhakar yeola having loan ac no with motilal oswal is LXMONASHIK[protected].i requested them to release my forclosure as i have sanction loam from au bank but theie customer care team only call for comtinue my loan with them n offer top up.loan also with 14%roi while i had sactioned loan i. Au bank with 10%roi.not any feedback of my forclosure so plz take action against motilal oswal

I'm just not intd to attend any calls of motilal oswal, these group is just spamming like hell, if I'm not answering that call for once, immediately every second they will keep on spamming,

Worst experience ever, how can these People keep on spamming like this and for what reason, even after telling them for 100th time, please unsubscribe my number, I don't want you guys to call me still very 10 mins same ### repeats

I had opened my account in motilal oswal for transferring my shares from physical format to demat form. Everything was fine when one day one of there advisors contacted me that they would trade from my side and earn me profits. I agreed to them as being an investor everyone needs profit. But they traded on such moments and trade that i had lost roughly 4 lacs through their advisors and after complaining to motilal oswal they are like you had agreed to all trades we can’t do anything.
If i knew about share market so well why would i ask them to trade for me. This is unfair practice and i think this was all planned. They charges my huge brokerage and left me with just 1800 of rupees. My money which was everything to me is now gone and left me with nothing but just pain and depression.

I am a investor in Motilal Oswal(SRMN1272) and slowly I was trying to accommodate shares of good Company for my future. It took almost a year to put all my saving in MO trading account for accommodating multiple shares worth approx. 3 Lacks. Since last one year, as we all know market came down due to some global issues and hence my share values came down and I was incurring loss of approx. 20k, which was ok for me as I am a long time investor, and I know in long term I will get good return.

On approx.[protected], I got call from MO(Deepak, Mobile:[protected]). He told me that he is calling from MO and he found that I have loss in equity and he got instruction from MO management that he should recover my loss. He shared all my details so I was confirm that he is from MO, and I though MO is very big company and they closely monitor each o[censored]ser account and they recover losses if any of their customer is in loss. Then I asked him, what I need to do. He told me follow instruction to pledge my equity and he assured me MO research have 100% guaranteed call and I should not worry as MO want to recover my loss. I should just follow what he says as MO is very reliable and big brand.

I followed his instruction and pledged my equity. On[protected], he asked me to do some trading in currency, when I asked him few questions, he simply said I should just follow what he says and rely on MO, my all losses will be recovered. Believe me, I blindly believed him on brand name of MO. He asked to purchase some quantity of PE and hedge with CE, and after 1-2 hour he told me I need to do averaging and again he asked me to purchase some quantity of PE and hedge with CE. And finally after 1-2 hours he told me there is no movement in market so I should exit all. Frankley speaking I even don’t remember what quantity he asked me to enter but after every trade I was asking him to verify what I did and he was validating and confirming me from backend that I did right. When I exited, I incurred loss of approx. INR 12500, but I was ok as he told he will recover it some time.

After 2-3 days I got mail from MO that all my shared will be sold, and I shared the same with Deepak and his manager Pawan(Mobile:[protected]). But they didn’t came back to me, and finally my all shares were sold worth INR 249215 and again INR 2419, and all money disappeared from my account. I informed same again to these guys and they told that they will update me. I kept calling these guys and I was not getting the info, and finally they stopped picking my phone. The mental stress what I went through I cant express, I went into depression and I was getting suicidal thoughts. I became mentally ill. Finally I started searching on internet I found escalation matrix of MO, and I was able to talk to Mr. Ajim who helped me to get all the info and he shared the details and confirmed me that, I buy/sell total 8000 lots which means 800000 quantity, which brokerage itself was INR 200250, GST: INR 36057 and LOSS: INR 13162.

When again I had discussion with Mr.Pawan, still he was not transparent to me as where my money went, he was just saying I suffered loss which is part of trading. Finally I had to tell him that I talked to MO escalation and now I have all details and I was charged this much brokerage. He told me that, I should not talk to anyone, 90% of the case there is no refund of brokerage but he will try for me and he assured me that if he try, definitely I will get the refund. I waited untill 30th November, timeline given by him and again called him and MO escalation. He is simply playing with words.

Now I want to escalate this issue to the highest level. This is very big scam, after taking to many experts dealing in USD-INR I came to know that, MO made me purchase, huge quantity(8 lacks) o[censored]SD-INR option, which was completely out-of-money hence premium was very cheap, and he was able to made me purchase maximum quantity for huge brokerage(approx. 2.4lacks). He asked me to do trade, which can never go to profit and as target was very far out-of-money and in case there would have been some movement in my favor, profit could have never be more than 2.4 lacks brokerage. So It was very big scam and I was betrayed for trusting MO blindly.

This amount is huge for me, and I am mentally sick because of all this, which can never be compensated. At least please refund my brokerage and take necessary action against Mr.Deepak and Mr. Pawan. Still I believe the brand name of MO and hopping you will support and protect the rights of a common, innocent man who dream to earn and save for the feature of their children.

I’ve been on MO platform for 3 yeaee Rs s now and each time an advisor is assigned he or she has allowed my investment to dwindle.
Yesterday was the fourth time I’ve lost all my portfolio due to an ambitious adviser named Komal. Either I’m a fool to keep falling for their promises or they are so well trained to convince clients like me to bet heavy.
Each time I agree for only 10 lots of trading but yesterday a senior advisor (who is supervisor of my regular advisor) came on call and convinced me that direction of the market is positive n I will recover all my losses if I put 350 lots. I questioned her again n again that it’s too high. But she was convincing me it’s a good volume.
I suffered loss by the end of the day. Komal is devil’s agent. She expressed no regret in losing my money. Instead she tells me, “ you knew the risk. You have only given approval.”
How they can sleep at night after cheating us if our money!!
They have No shame. They get their brokerage easily. I hope Motilal Oswal burns to ground one day, very soon.
Please help me take legal course or suggest how I can be compensated.

I tried to start an sip using motilal oswal app and while making the payment some error occured and i contacted the customer care team.they said as the payment was not debited transaction was unsuccessful I can start another one like they said.I tried again and same error occured.so i waited few days and tried again.this time it was successful.but from next month i came to know the hidden charges.everymonth they will charges for each sip payments even for the non successful transactions. I tried to explain the same to the customer care team they are not even ready to hear my words .I have made the transaction for one month 1000 inr and they have charged me for july and august 3 sips even cancellation charges as well.please look in to it

Hello Team,

I'm getting too many annoying calls from Motilaloswal after creating the account. Daily I'm getting more than 10 + Calls which is very irritating I requested several times to stop calling me but they are not listening and keep calling me again and again.
It's very annoying and frustrating.

I have tried to open demate account on M.Oswal trading app and then after that i changed my thought and deleted the apk . Now they are calling 7-8 times in a day and i have already been told them all that plz stop this calling and now its too harassing.
Plz i request the company to Stop this All calling ###.

I invested a lot of money with Motilal Oswal, about 5lahks, they stop responding to my call for weeks, am happy I was able to recover back my money with the help of “ Glob altra dere covery. n et

I am Sagarnil Roy from Burdwan, WB. I have lodged a complaint against your sub broker named Gaurav Punglia hailing from Chittorgarh, Rajasthan for frauding me of around Rs.150000 in lieu of LIC and Ethos IPO. Neither the amount nor the shares have bern credited in my account.

I have lodged a complaint against your sub broker named Gaurav Punglia hailing from Chittorgarh, Rajasthan for frauding me of around Rs.150000 in lieu of LIC and Ethos IPO. Neither the amount nor the shares have bern credited in my account. I would like to know the actions taken by you as the person is doing fraud under your company name .

I got losses through this company their adviser take a call many times without my confirmation and gave me big losses in trade. Their adviser are totally fraud and gave losses in every Trade. Many times I told them that please maintain stoploss but they can't maintain so I got big losses in trade. They never responded any my call. Total fraud company.

This is with regard to motilal oswal securities account.
This is the 3rd time I have been maliciously deceived by motilal oswal services.
I have faced issues like good stock have been sold from my account without my knowledge.
Neither I have an order nor any intimation via phone calls still the stocks are getting sold from my account.
"Shame on the services, Immediately I am transferring my account from here" and will encourage others to not open any account hereafter in Motilal Oswal.
There were instances where I saw I have a buy order but still this ### motilal oswal portal does not execute my order even the price is hit below my target price.
Fake promises are done by the stock brokers of motilal oswal and usually recommends hilarious calls which will make you go in more loss.