Motilal Oswal Complaints & Reviews

My client code is eaope2747. I had purchased share for around rs.33, 000/- in intraday. But held the share for some months. After selling the share at a loss, i am still getting the rms selling. My account is showing negative, though the margin amount shown is positive. I have been trying to call the advisor but after long hours of trying, when i get through, the person who picks up the call will say "i will tell your advisor to call back."...

I have open an account in motilal oswal securities on 29 January 2020 .My client id is BK1419 . I didn't even receive any POA the broker deal with me only by call .I opened that account only for trade in commodity . The broker takes 50000 rs on 30january2020 and start trading by himself without taking my permission .He loose all the money by 3 days and after asking him about losses broker demands more 50000 to recover the loss and gave profit. Again I gave 50000 on 6 February 2020 and he showed all losses again and the whole amount of 1lakh rupees wiped out .Broker only trade by his own without let me know about the sale and purchase and now he is not even receiving my calls I want my money back and account to be closed plz help me out of this.

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...

They are really fraud without our permission there executive did transaction wid our money and then our balance goes in negative, and again sending mail to deposit loss amount. When i did not performed any trading myself for long time then how can they demand such amount to me.

Guys motilal oswal is a great cheaters don't believe them. How dare they are.

I have sent email to close my account and refund all of money then i have received the email to send the closure form through post and i have done the same and i have received the conformation for the same from the postal office. But what the hell no body cared to process my request it's been 20 days.
Some girl called me and told that she's the agent for me i said i'm not interest very decently but she shouted on me and hung the phone what the #. Close my account and give back my money you suckers.

All the these #ers asking me my registered email and id that i have sent so many times these guys are really cheaters.

[protected]@gamil.com
[protected]
Eaope69204

Today on 30 apr 2020

I have done transaction in application for intra day in demat ac rajac 102 and rajac180
I was unable to order and cancel order and also one order was no5 being done than its done 3 times.
It caused so much loss in both account.
When i tried to solve it by agent it was problem from ho

Why i bear that loss i[censored]r server and application not working

I want to complain for that

My Issue still remains unresolved. It seems we have to chase Motilal Oswal for our issues to be resolved.
I am dissatisfied with overall service and response. We would have to look for other alternatives if it continues to remain like this

Client i'd : eaope7841
While opening account mofsl confirm me the account will be opened at no cost and no any future charges applicable to me except brockarage charges.
Now company applied do charges to my account and no any resolution provided on mail. Interaction id :[protected]
I have frequently contact to customer care but every time they give some new no to contact and new no always busy.

They are really fraud without our permission der transact wid our money and then our balance goes in negative... We have an option on app call to trade when we call on tht number dey r only available for trading rest dey don't have any answer regarding our account and gives us customer service number which is [protected] which never pick up nor revert... Pls do not invest in tht app or trade...

My account was opened in august, 2019 with motilal oswal. As soon as the account was opened, the representatives of the firm lost interest in the account, why i don't know. They stopped attending my phone calls. I was not informed about my client i. D. And other particulars. After a long follow up i could get only the i. D. I have still not been informed about other particulars, online app, or any instructions to enable me to start my trading. Tired with the experience i decided to close the account and asked them to forward their a/c closing form through net. This also required much follow up. After receiving the form, i submitted the closing form on 30/1/2020 and from then continuously following the matter. But till today nothing has been conveyed to me. However, some charges have been recovered from me, may be the charges are for giving this kind of trouble to me.. Now i expect that the account may be closed immediately and my deposit amount in full should be refunded without requiring further follow-up.

I am demat holder with motillal oswal financial securities. My client code is eaop7178.
The company often threats me that my account with them will be revoked. I have hdfc tax sving mutual fund under demat with them. If they revoke my account i will not be able to encash my above mutual fund. I have written to them thrice but of no use as they again n again send me email that my account will be revoked.
Latest email being dt 27.02.2020 from the company.
Thanking you
Ravindra baji

Really paining with motilal oswal master plan..!!

I have told you multiple times that i don't have any knowledge on the trade happened with my account and i was begging her (Neeti) that i don't want to trade which i don't know anything. However she told me (Assurance talk) that she will take care and participate the call and make only profit.

Also, i have told multiple time to that lady that "i...

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...

Client code-eaope33033
I started trading just à few months back for the very first time with motilal oswal. I believed in every advice they gave me. One of their sales executive guy presented me tgs software with sugar coated words and i purchased it on emi basis. However after purchasing i realised that this software is not at all meant for me and my investment style and since the very next day i have been contacting them to stop...

I have a motillal account with client code eaope13453.

I am purely into investment. I got a call from the motilal customer care during aug-sep 2019 for the trading and they introduced me the cheat software trade guide signal (Tgs). They made me to purchase the software with the sugar coated words, after subscription i found the software is not useful for me also i made some loss due to the software. Later i asked them to stop...

I opened a demat & trading account online with motila oswal (Mosl). I have not traded last two year. The account was opened online and i requested them to close it online. But they are insisting on sending physical signed account closure form. I had emailed them telling i will not send account closure form as the account was opened online and should be closed online. I again requested them to close my account but they not closing and threatening to send legal notice to home. Two years ago i had sent email stating your services are poor and i made my balance zero and requested to close my account, but now they added amc for two years and telling me to clear the dues.

I have not trading last one year in motilal oswal. And i have booked so many losses with their tgs service. But last one year i told them to close my account but they not close and they threatning to me about legal notice sending to home. Last year my account was zero balance but now they add charges and told me to pay more 963rs. Worst service i have never seen. And today they mail me to reactivate my tgs service automatically on 7th oct which will cost 18000/year.

So i need to close my account asap.

I had only rs. 5000 as capital in motilal oswal and wanted to do intraday training but next day they deducted rs. 4600 for value packs and amc laifetime free service. I have told them previously that i want to make use of rs. 5000 to trade but still they deducted the money and while filling up the form their sales executive ms. Dimple did not tell that fully that my money will get deducted if i use value packs and before that when she tried to convince me i clearly said i want my full money to be utilised in trading. This is unethical and worst form of cheating.

All the advisory services provided by motilal oswal are fraud and only earn money from small investors in terms of high brokerage and put investors into big loss. Never subscribe for such services.
Tgs subscription cost me 5lacs loss in 1month.
Ace cash cost me 5.5lacs in 1year.
Please be aware of mosl trap.
Advisor is a big cheating game in this trade with mosl. They got percentage of brokerage so they call you to get their profit against brokerage. Not to call you for tgs or so called any high conviction call. It's a big cheating and gambling to earn more brokerage from small investors. Please keep away your self from this cheater company and don't put your hard earn money with mosl.

I tried to setup an account with Motilal oswal to start mutual fund trading. at first they were helpful, assigned an advisor to me by the name of disha varia.

I wanted to set up an SIP in 2 schemes for 3000 each. they sent me the paperwork, I signed and sent them back. easy right? NO.

The SIP that was set up, was for 15, 000 instead of 6, 000. On asking my agent what caused this, her reply was the authorisation letter was signed one too many times, so that's why. I never really understood the logic, but anyways she assured me it was nothing and will be resolved shortly.

THIS WAS over 4 months ago. I have been following up with them almost every other day.

After about a month of talking. I tried to sell my holding because I was so fed up with Motilal. I tell my agent this, and she did not make the sale for a MONTH.

At first, she kept assuring me it will be done soon. Then she stopped taking my calls. Then one day after almost a month of calling with no response, another agent picked up and told me to email their mutual fund department.

I MEAN IF I HAVE TO DO THAT, WHY DO I GET AN AGENT? WHAT THE ACTUAL HELL IS HER JOB?

anyways I proceed to sell my holdings. BUT oh, theres more.

the SIPs need to be cancelled separately. which I did not know since I am an amateur trader. they never told me this, for this month, I have paid 3000 into a MF I do not want, and I have been charged 1200 by my bank for not maintaining minimum balance for the rest of the 4 SIPs WHICH AGAIN, I DID NOT WANT.

I don't know how this company has any customers.

Dear all it is complaint about motilal tgs services and as per advisor of motilal oswal i subscribe tgs services and payment have to be done in two installment after first installment paying
I work on advisor recomandation who gave tip with reference of tgs and also work on tgs massages do you know friend in this one month i lasted 170000 rupees and in one day as per advisor call i losted around 60000 and i requested to motilal oswal please unsubscribe me this and also please delete my account so here now result is motilal did not unsubscribe this and also demanding money and also sold my security of portfolios

So threw this platform i request you motilal please delete my account

Eaope10783 is my account

This is regarding my tgs activation in my demat account with client code as eaope14142.

I was surprised to see the email in the morning that i have to pay 29382 for activation of tgs service. I attended the seminar to know more about it. I mentioned my client code there to know more about the product as it is not possible to ask individual query in a large audience.
There was a call from the call centre after the seminar to brief me about the product.in course of the discussion, otp was asked from me. I told the otp thinking that it was meant for authentication purpose.
I got another two emails to make the payment through the credit card as that was the preferred means communicated by me to them. However i ignored the emails for making the payments assuming that service will be activated post payment of money. I was really surprised to see today morning that my demat account was charged for the service which i was not interested.

I am working professional with limited time and internet access during office hours that make it difficult to do active trading and hence i didn’t opt for it.

Client code - eaope7066
Name : elan waskar
I am a client of motilal oswal since long time. I received a call from their advisor (Amit shah) to buy tgs, i told him very clearly that i am not a trader & not interested in the same, but he told me that i will help you by giving frequent trading tips where you can confirm and will take trade on your behalf. As per his communication i bought tgs. After buying tgs, i didn't received any calls from him. When i called their customer service i have been told that he is not available, therefore i called their customer service and told that i would like to discontinue with the tgs as i am not getting frequent calls for trade from advisor. They made me talk with their tgs head mr. Karan who said amount paid is not refundable but we will recover your amount by giving you trading tips but again it's the same situation where you didn't get frequent calls from them once you buy software. They also change their advisor without giving them a proper handover. This how it's a big trap where you receive calls from them to buy tgs & after buying there is no response. I very disappointed with them and looking forward to discontinue with them. Hope the management reads by review and understand my concern and revert back.

My agent misguide me that TGS services will less charge for me because i m facing loss with present share and convence me to subscribe this service and collect activation otp from me. But the service will start after next week.

After two days when i want to unsubscribe it they did not recieve my call dont respond my email also

What should i do?

I'm a Trader at Motilal Oswal and my Client Code is EAOPE24984. An Incident compelled me to make a complaint against MOSL. On 18th June I've Bought 130 Shares of Bluestar and waited till the Day End.. As They Said if the Intraday Call is Not squared off they'll make it a Delivery . But they Sold it of their Own. Again on 19th I talked with Shivang Vyas and he asked me to pull that off from Demat Holding Position. All Okay I have suffered a little bit loss.. And Today I got the SMS that I need to Pay Near about 20 Lakhs Payin For the Bluestar Share. Is it a Kind of Joke?
I hardly faced a Loss of 11000 or So but 20 Lakhs!!! I need it to be figured out asap

M/s Motilal Oswal, so called a big name in financial services is a big fraud .
I have opened a account for trading with them in 2018, and has found that the recommendations are so poor, that the losses were piling up and had shared the data that throught one year the fund value never crossed investment value.
When tried to talk to their officer - Khushal Rawal - They have changed the advisor .

New advisor is so pathetic, that he started doing the trading without consent .
Now i made a complaint to their customer service, they have provided half the info - out of two trade one trade sound clip only provided against the mail sent on 7.3.2019
Dear Motilal Oswal team,
Enclosed is the Heavy loss statement on account of poorest services and tips given by Motilal team .
From Jul18 till 3rd Dec 18, I have lost 5.76 lac on account of intraday trading and future .

Hence i need to get the sound clip hearing to be done in your delhi office - if you are unable to send to me personally to my Email.

Following dates are important
26th july 18 - Loss of 2, 28, 890/-
30 Aug 18 -Loss of 71668/-
25 oct 18 -Loss of 80482/-
27 sep 18 -Loss of 1, 95, 117/-
Total loss - 576158/-

Additionally, i need the sound clips for Nov 18 and till 3rd dec 18 to know why so much of trading has been done without consent leading to the losses .
If you hear the tape, you will know that the day there was a loss, the relationship manager has never informed ...
Apart from there is a Net loss of 1.76 lac in equity, which i donot know if you can share the sound clips .??
I also need to have the escalation matrix of your top management - CEO to make him aware of the losses your team is making for me and the way your RM handles the business ??? and how your seniors are supervising further .

Acct -H41541

--
With Best Regards

Client code: eaope24539.
Name: bharath sh

I subscribed tgs on 18th march, 2019 and it was proposed to buy mr. Vikram mehta, and i paid first emi 9765/- debiting my demat accaount.

Now i with to stop this services with immediate effect, i proir intimated them on 12th april, 2019 regarding to stop this services and dont charge anty amount to my demat account and requested for refund what i paid.

But i did not received any reply form motilal and they debited my account on 19th april, 2019.

After i contacted mr. Vikram to stop this services and refund my amount but now he said once it is activated its not possible to deactivate, i was shocked because this lier vikarm didnot told while subscribing this tgs software, now he changed his colour also, further he assigned someone as my advisor with out intimate me and escaped form advisorship also.

Finally am direct to motilal refund my money immediately and stop this service and take action against lier vikram, because he told only lies and cheating the customers.

When customers wants to stop its your duty to act on his wishes.

I open my ac with motilal oswal when a person countinues follow me by phone. So 1 day he come to my home and say within 24 hours your ac will open. So i proceed. But after taking 50000 rs ch. From me he not gave permission to transact me nin future. So i want to close my ac. But regullarlly talk and messages he not interested so i call a man call manager. Name om prakash. He also not gave perfect answer. So what i shiuld do now. They take my 50000 rs cheque.

I maintain a demat account with Motilal Oswal with client code XRP230. I had applied for transfer of shares and closure of the above demat account on October 2018. But the same was not done even after my repeated requests. On contacting the Motilal Oswal customer care I was being directed to contact the local branch.
I visited their branch office on 9th March 2019 and met the Branch head with a request to transfer shares and close my demat account with Motilal Oswal. As per his direction, I re-submitted the closure application form along with CMR of my new demat account on 9th March 2019. I was informed that they will do the needful within a week.
But the same was not done till 4th April 2019. In the meanwhile I made repeated phone calls to the Branch Head and another person for acting upon my written request.

I have start demat account with 1000 and it was been told to me that it would be safe and u can watch how it operate and can when and whenever u want to and i it would be not chargeable but martina mam is saying different now, as to close demat u need to first invest rupees 25000 and u will get back 800 deducting 199 amc charges. But i don't want to invest in any think futher and asked to close but mam is you will not get any amount.