Motilal Oswal Complaints & Reviews

MO is very unprofessional team, their grievances doesn't have senses to address the concern of customer they only revert with one directional comments as per escalated manager/advisor instead of admitting the mistakes blame customer for losses unnecessary, no response to share higher authority email/contact on their incomplete answers, answers are totally generic and not to specific asks. Lot of struggle to get recovery of 40k because of false trade by advisor, even on request they forced me to do trade and changed multiple segment of trade in sme day just to hide their mistakes. On top of that Manager gives solution of changing advisor only who repeat the same mistakes with his senioritu expertise.
Advisor not available on call/ no response over an email for almost month on month even asked by manager he doesn't replies, and there is no answer from grievances to the mistakes, only blame customer behind the sentence of trading is risks and it's already shared by advisor but they don't ask advisor why he changed 3 segments in a day, why 2 clients profit and 1 client losses for same trade, management is arrogant and grievances team taking account updates from escalated manager. To get the call recordings of trade they ask customer to visit Mumbai branch, manager gives multiple calls to close complaint on same day even customer is not available to discuss, he closes complaint and no updates later, noonereports on email changes words on phone calls and no sharing updates on email.
Lot of harassment going on because of these follow-up and request of recovery for the account getting the excuse of market conditions, corona, war, etc each time and no trading.
Highly recommendations to DONOT use Motilal Oswal as a financial advisor, very arrogant and unprofessional team. They put you in loss and blame to market and customer as it's happening because of clients and market but their expertise and experience is not under any claims, they claims 70-80% success calls, ask them to show me this updates in my account progress. They only intend to gain from brokerage and rest is blame to market and customer. Even twitter is blocked for customer after raising complaint, this is how professional team.
These folks are part of these harassment and unprofessional services... mrs nidhi, shivanshu, Tapasvi, twitter team, and majorly team Grievances. Will share e-mail, calls if required someone to help in this matter

Couple of days a go I started getting calls from MO advisers to trade into Currency and derivatives and provide with finance to trade. When I Declined they insisted on pledging the D'mat holding. They took keen interest in teaching me and got pledged my D'mat holding.

They told that USDINR was a good bet and asked me to buy 1000 lot which I Declined. However they took approval of 500 lot to buy and placed the order. This soon met with the stop loss and stripped me off about INR 50000/- I was shocked on their irresponsibleness. try to call them but no response I was again shocked what kind of scam is this?

Then another day again I was lured. This time although the permission was given but they did not follow the instructions and again led to losses to almost the same amount. This time they were slightly sympathetic and advised of changing portfolio from USDINR to other portfolios, Which I declined.
These people are inexperienced, having not much knowledge, lure individuals into financial trap.
This is a scam going on and looting innocent individuals and tripping off their hard earned money.
Action must be taken by the competent authority to stop such scams.

I registered with Motilal Oswal and after that i started reciving many called a day selling there servises at least 5 to 10 calls a day., The sales girl form Mumbai had called an i have told them to take my number off there list many times but not done yet, it been a couple months that i am getting Many calls a day, which i disturbing my regular work schedule and interruption my work calls, really a harrasment. Pleas help get them off my phone ..

Last month I tried to open a demat account on motilal oswal site but i stopped after registering mobile number and now they are calling me 4-5 times a day even i block them

Please stop calling 🙏

There are many like me who trusted @MotilalOswalLtd and we're betrayed by their so called.Advisors

Wrost Brokerage Service In India... Their Main Motto is Only looting Money From Innocent Peoples With Their Advicery Services. I have opened a demat account with Motilal Oswal. After A year i didn't satisfied with their services and brokerage and I queried closure form to their Branch. I got a Call from Motilal Oswal advicer named Rahul Mahinder Shah He told me Gave me a chance to prove ourselves iam also convinced. With In two Days they lossed me 1 Lac Rupees with Their Advicery And Brokerage. Soooo I Request You to don't Open Demat account with Motilal Oswal Don't Loss Your Hard Earned Money

I initiated a withdrawal after selling my securities on Monday, 7 Feb, however, I haven’t been able to withdraw my amount of Rs 1.8L. I have a very urgent payment to make but my withdrawal is getting stuck again and again.

I sold some other securities on Thursday, 10 February and want to make the payout by Monday.

@Motilal Oswal request your urgent cooperation, this is highly unprofessional on your part. Please expedite. Account number - - HABH1261.

I have complaint on your employee, she is cheating me as she is getting close to my husband

Kindly refer the below my personal reasons to close my account within one month.
• Narayana ([protected]) had approached me to opening new account and he is immediate response even in weekends as well until account got activation.
• Post activation account Narayana arranged one person and his name is Sumanth ([protected]) to trade behalf of me. He traded first day after my account activation 1000/- loss.
• Next two weeks he never called me to trade. Meantime, I tried my own trading in nifty/banknifty and lost 40K.
• Whenever I’m trying to call to Narayana/Sumanth during trade they never pick my calls and send sms like call you later.
• Whenever I will call to customer care then they will always give blind solution send mail any query to [protected]@motilaloswal.com.
• There is a MAX limit 5000/- only for withdraw amount
• All are false suggestion reports will come through MO Investor app notification.
• My client code is VETA5929..Finally I decided to close my account and giving 0 rating.
• Finally, My personal experience don’t chose Motilal Oswal for trading and don’t loose your money.

I opened my account on 18 oct 2021 with motilal oswal thinking there research advisory is good. They assign you an advisor to help you. Intially i did transaction myself for long term and it was around 19k negative due to market correction. Then their advisor called and said your portfolio is not good and you start trading in f&o and we will give you 10 to 20% portfolio return per month.I knew f&o is risky but I thought they are reputed broker and know how to trade in f&o. On 9th dec my advisor mr rohit did transation of 8500 qty of bank nifty on weekly expiry. i was quite busy on that day in office. In evening when i checked my account, i suffered loss of 1 lakh. Out of which 61k was loss and 39k was there brokerage and other charges. Then i complained and they changed my advisor to ms mayuri chavan. She said she is more experience and will recover your loss in few days. On 23rd dec, in morning she earned 4750 in equity intraday. I said her not to place any new trade on that day. But she insisted market is good and she placed banknifty and made me loss 60k loss in banknifty. Then she said there is momentum in currency and all your losses will be recovred. I again trusted her and she again incurred me loss of 52437. So in two day, two stupid and inexperienced made me lose 2 lakh 10k rupees. So guys don't trust motilal oswal's advisor. They just want to earn brokerage for their compoany and don't care about customers. Also their brokerage is highest in industry. So better to stay away from these fraudester and cheaters.

Motila oswal employee rishikesh rautray call me asked for 50000 for investment. I gave him money and insted of investing he took bajaj helth insurance without informing me. This is cheating. When i got call from bajaj i deny to take health insurance. Now that employee is not returning my money.

Your belgaum branch club rd is very worst I had given a cheque for annual fee they have not deposited nor they have returned to me I will not touch foot to that office pls guide me how to pay annual fees and I will not pay interest because it is not my mistake I am asking again and again to pay amount

I had contacted your nearest brach office for payment of annual fees and given a cheque for 600/- neither they had deposited nor returned the cheque to me and behavior is very rude pls guide me how to pay annual fees and I will not touch foot to that office pls guide me how to pay

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 help, sometimes calling 6-7 times a day

I just opened an account on motilal oswal and now they have started calling me asking if i am interested in some free token or something and they say I have to press 1 to accept or press 2 to hear the message again, there is no option to stop these calls and the worst part is that they call when I am sleeping I work late nights and sleep till 11 - 12, they call me at least 6 times between 10-12 am and they have ruined my sleep for the past 3 days, this harassments is too much for me, if I block the number they use a different number to call, I asked a agent and she said that because you have not started trading on the platform that is why they keep calling you.https://www.motilaloswal.com/

Hi,

I went for an interview a week back in Motilal, Tolystoy Marg. Mansoor Ahemad took my interview. He told me that he was okay with my entire experience, and can hire me on 5 lakh of package. I told him to consider once about the package. He told me that this is max we can pay but still would give it a thought. He said that let me discuss about the package with my senior, and then Ekta (HR) will get back to you within 2-3 days. I did not receive any call, but when i called after 4 days, then HR was not aware whether i have given any interview or not. She infact was asking me âkisko interview diya aapne, aapka to aisa kuch hai hi nahi yahanâ. What a dumb and careless, useless people. I went through consultancy, and HR of that told me that she would communicate and ask about the same. After so much of crap, they come up with an offer that fine we can try for 5.5-5.75 lakh, this is what Moti Lal HR said to consultancy HR, and for that reason they called me again to have face to face conversation on 26th August, 2021. All the way 20 kilometers i went, and that Mansoor Ahemad said âhanji bataiyeâ. I mean really? He said that he did not call me, but Ekta called so talk to her. In fact that dumb ### said that âaapke liye hume vacancy create karni padegi, vacancy to hai hi nahiâ. Why the hell they wasted my time, and called me all over again. Liars, as they had vacancy on Naukri. When you donât have vacancy why ur dumb HR EKTA is saying that we can pay you 3-4 lakhs, really? Is this a joke that is going on.

I am going to drop a mail to their head office in Dadar, and mention about the same there. Would inform about the same to people on social media. [protected]@motilaloswal.com, [protected]@motilaloswal.com, [protected]@motilaloswal.com, [protected]@motilaloswal.com.

Sir my client code is EMUM007564 I came across the accident and I am on bed for last 6 months I have not take any benefit of software and due my illness I unable to take any benefit of TGS in future also. I want to cancel my TGS subscription i havent took any session so its better if you stop it and dont debit any amount from my account i will be very much thankful to you.

Their is one employe her name is alifa
They are not giving me my money refer and earn money she told me that I give you 600 per account but now she is not attending my call and she block my number
I give 11 account to this gairl

Fraud information
Alifabi.[protected]@motilaloshwal.com
[protected]

I have call recordings and all evidence ...
I am continuously trying yo reach customer care but this lady is on seniors post and they are not responding me ...

Please resolve my problem and give my money 6600 please...

This is Ms Maitrayee, and I had started trading with Motilal Oswal just few months ago, and been facing major problems since the day I joined with them, High brokerage charges, and they openly cheat.
Event 1: I had sold a stock Tata power 10 shares @129.50 I have an email that proves my sale, and the advisor was telling me that it sold for 127, openly they are cheating, none of their senior team calls back or take responsibility after repeatedly leaving call back request or emails, they have even blocked my wallet account, I'm unable to withdraw my money from them.

People who I have contacted until now,
1. Resha Awasthi senior team as she claims
2. Priyanka Solanke advisor
3. Vaishnavi advisor : provided with false information

Kindly help and take proper action against them.

Thank you,
Regards
Ms Maitrayee
[protected]
Motilal oswal id EMUM253648

I was submitted my physical shares in pune office to convert into my dmat account but now they are saying they loss my shares somewhere and the person who was working on that is no more employee of company. They are asking to check with him.
I also tried to contact on Molilal oswal helpline number and they also not able to help me in this case.

Please refer to transaction ID[protected]. Very pathetic service from Motilal Oswal team. Issues

I have 2 concerns

1. I have 2200 shares of Aarti industries in my older DP and these need to be transferred to the new DP id immediately, I have been following up on this for the last 2 week and no resolution on the same
2. On my client code I can still see my old email id, bank details and new details are not updated, How much more time it will take to update it? The CML copy showed the correct bank details but this is not updated in their system correctly due to which i am not able to do any transactions

My mom client id is BLSB40, since today close to 81 Lakhs worth shares are not showing in her account which were available yesterday... Please check in this urgently and resolve the issue asap.. I have checked and no transactions were made so not sure where are these shares now

Hi, I had been contacted by Motilal Oswal representative for demat account opening on 11/06/21 . After lot of marketing I decided to open an account with Motilal Oswal. on 12/06/21 the procedure started and that representative asked me to provide funds first, I was concerned about this and for safety he provided me his Motilal Oswal employee card. Trusting this ID card I transferred funds. From that day till now I have been given false promises that by this time and this time it will be done.
I can provide you the screenshots of conversation and the ID card provided to me.
Please look into this and help in getting my money back.
Attaching the whatsapp chat with screenshots and documents send / received.

11/06/21, 1:58 pm - Messages and calls are end-to-end encrypted. No one outside of this chat, not even WhatsApp, can read or listen to them. Tap to learn more.
11/06/21, 1:58 pm - This chat is with a business account. Tap to learn more.
11/06/21, 1:58 pm - +[protected]: Hello
11/06/21, 1:58 pm - This chat is with a business account. Tap to learn more.
11/06/21, 1:58 pm - +[protected]: Sir
11/06/21, 1:58 pm - +[protected]: Rahul here from motilal oswal services
11/06/21, 1:58 pm - +[protected]: Dear sir,

"Zero Brockrage Account"

👉🏻 1 year brockrage free in equity and commodity segments.

👉🏻 Amc and Services life time free.

👉🏻Delivery brockrage charges free in life time.

👉🏻 Demat Opening process free.

👉🏻No any Hidden charges.

👉🏻 NEXT year brockrage Charges in 10 rupees per order.

👉🏻FREE Tips, PMS Good Quality and support.

Thanks and Regards
Team MOFSL
11/06/21, 1:58 pm - +[protected]: Document list:-
* Adhar card (front and back)
* Pan card
* E-mail I'd
* Passport photo
* Bank detail
* Mother name
11/06/21, 1:59 pm - +[protected]: Send this documents sir
12/06/21, 7:37 am - Amar: Hi
12/06/21, 7:37 am - Amar: Will send the documents today
12/06/21, 8:35 am - +[protected]: Ok sir
12/06/21, 12:31 pm - +[protected]: Sir send your documents
12/06/21, 12:32 pm - Amar: IMG[protected]WA0009.jpg (file attached)
12/06/21, 12:32 pm - Amar: IMG[protected]WA0008.jpg (file attached)
12/06/21, 12:32 pm - Amar: IMG[protected]WA0010.jpg (file attached)
12/06/21, 12:32 pm - Amar: [protected]@yahoo.com
12/06/21, 12:32 pm - Amar: Mother name - Shivkanya Ukhalkar
12/06/21, 12:34 pm - Amar: IMG[protected]WA0011.jpg (file attached)
12/06/21, 12:34 pm - Amar: IMG[protected]WA0005.jpg (file attached)
12/06/21, 1:35 pm - +[protected]: Dear Mr. AMAR DINKAR UKHALKAR,

Zero brokerage account.

Thank you for choosing Motilal Oswal for trading online. We are pleased to inform that the password for your online trading ac-count has been activated as per detailsmentioned below:

User Name / User ID: ESAPP15525
Login Password: After first payment through bank details.

ACCOUNT NAME:- MOTILAL OSWAL SECURITIES.
ACCOUNT NUMBER:- [protected]
IFSC- ESMF0001102
BANK NAME- ESAF BANK

Assuring you of our best services at all times
12/06/21, 1:35 pm - +[protected]: IMG[protected]WA0020.jpg (file attached)
12/06/21, 1:36 pm - +[protected]: Fund transfer karke screen shot send kar dijiyega ok sir
12/06/21, 1:43 pm - +[protected]: IMG[protected]WA0015.jpg (file attached)
12/06/21, 1:43 pm - +[protected]: Okkk👍
12/06/21, 1:52 pm - Amar: IMG[protected]WA0016.jpg (file attached)
12/06/21, 1:52 pm - Amar: IMG[protected]WA0017.jpg (file attached)
12/06/21, 1:52 pm - +[protected]: Welcome
12/06/21, 2:42 pm - Amar: IMG[protected]WA0021.jpg (file attached)
12/06/21, 2:42 pm - Amar: IMG[protected]WA0022.jpg (file attached)
12/06/21, 2:43 pm - Amar: Deduction sms nahi aya hai
12/06/21, 2:43 pm - +[protected]: Okkk
12/06/21, 3:20 pm - Amar: Hi
12/06/21, 3:20 pm - Amar: Koi update?
12/06/21, 4:10 pm - +[protected]: Nichal shivhare researcher head conference miting h islye time lag raha h
12/06/21, 4:14 pm - Amar: Ok.. do you know when that will be over?
12/06/21, 7:10 pm - Amar: Hi.. I am very sorry if I am troubling you by contacting again but the activation part and confirmation on mail would have been done by now as I have already did my part of documents sending and payment transaction on said account.
12/06/21, 7:12 pm - Amar: I can understand that there are other things as well because of which you would be busy but do not you have a customer as priority?
14/06/21, 9:29 am - +[protected]: Gm sir
14/06/21, 9:31 am - Amar: Gm
14/06/21, 10:56 am - Amar: Hello, I would like to cancel the account opening and therefore would like to get the ammount back. I am extremely sorry for causing you this much of trouble as well as wasting your and mine time. Thanks. Amar.
14/06/21, 11:07 am - Amar: IMG[protected]WA0008.jpg (file attached)
14/06/21, 11:07 am - Amar: IMG[protected]WA0009.jpg (file attached)
14/06/21, 12:00 pm - Amar: DOC[protected]WA0010. (file attached)
[protected]WgFmNh9NczNujeoi.pdf
14/06/21, 1:45 pm - +[protected]: Otp
14/06/21, 1:45 pm - +[protected]: Mail waha dijiye
14/06/21, 2:08 pm - +[protected]: Signature photo bhejiye
14/06/21, 2:08 pm - Amar: IMG[protected]WA0004.jpg (file attached)
14/06/21, 3:02 pm - +[protected]: Your client code is
AVKR2223 & password has been sent on your registered email ID.
14/06/21, 3:06 pm - +[protected]: https://play.google.com/store/apps/details?id=mosl.powerapp.com
14/06/21, 3:22 pm - Amar: IMG[protected]WA0017.jpg (file attached)

I am Karam Mallikarjuna Rao Account No: ANVS0034.

I am getting emails repeatedly from your company about ledger debit and RMS selling from 11/7/20. Please note that I have never traded with your company or deposited any amount for trade. Your local franchise had informed me that account opening is free and never informed me about this RMS selling. You are a reputed company so I did not expect you to adopt such methods to make money. Please stop doing this and close my account. Hence I am not liable to pay the dues as you claimed.

During the Second Wave of Covid, my income was reduced suddenly therefore I asked to my Agent (Yashika) on 13 April 2021 that I want to cut down the investment value by 50% when I did not get any response till 26 April. An email sent at [protected]@motilaloswal.com that i want to close the Account due to the worst service.

Then after i got a revert in my inbox so I tried to follow the instructions after spending sometime thought to call and ask how to do it. On customer care it was told you will get a call back soon. After some time i tried again when i did not receive any call.

Now today i saw "ACH D- INDIAN CLEARING CORP-D5830750X013 " for SIP and ".ACH Debit return charges[protected]MIR[protected] " charges of Rs. 548.78.

I want the refund debited from my bank account and complete solution to get rid of this pathetic company.

Share trading on Motilal oswal is complex. It never becomes clear as to why you recently purchased share, why cant you sell. They ask margin. Why there is need for margin. Customer care is always busy and never respond. Email has returned back. How should we communicate and get redressal is problem.

I have opened account with motilal oswal but now i have to close it so i tried to close.it but they are saying your demat account is having some shares so i checked then i called them and said that i dont even add fund in that account so how can i buy shares so they told me we given you some free shares of our company and when i called them to close account they are saying to sell it so i done it now that account showing you have still that share and there are some RM assigned to me whos phone never get starts it always says not reachable and this customer care number of motilal company is too much chutiya and ghatiya it is never get reachable so close this account as soon as possible and sue that ghatiya company.

AMC charges was told that it is nill for life time while opening the account
and i was being charged AMC and along with it RMS
Hope my issue gets resolved at the earliest
[protected]@rediffmail.com
e704322 client id

Added money in motilal oswal demat account and haven't used for trading but now i am not able to get my money back using money transfer to bank .. the request keeps rejecting .
Please resolve this issue as they keep postponing the transfer

Dear sir/mam,
my broker Nikesh bhatiya trades without my acceptance or direction and there is a loss of Rs 20400 approx should I file suit against my broker and MOTILAL OSWAL
I AM GOING TO FILE SUIT PLEASE ADVISE
without permission he trades, now i have Rs 25000 approx. please guide me for the same.
And please refund my amount .
Nikesh bhatiya given worng information to me me about a brokerage plan and cheated me.
So I requested you please take action against your broker and refund my amount within 15 minits . Other wise I am complaint to SEBI regarding this fraud against Motilal Oswal company and broker also .

Thanks
Pawan Gupta
[protected]
Client I'd - EMUM027259