[Resolved]  IIFL — F&O ACCOUNT ACTIVATION AND EXCESS BROKERAGE CHARGES LEVIED

Address:

Mumbai Suburban, Maharashtra

Hi

I had submitted my documents for brokerage account opening on around 20th March. I had also submitted a copy of my salary slip to my Relationship Manager Mr. Mukund Khanore on 31st March 2011 (which is required for Futures & Options trading account activation). It has been more than a month and the account has not been activated yet. I had spoken to the customer service helpline and they said mail the documents to IIFL office at Chennai which I did on April 15th or so. However they have still not activated my account . Every day they keep on passing the case from one agent to another and tell me we would get back. This whole bureaucratic behaviour has been extremely frustrating and painful.

Also my Relationship manager had told me that the brokerage charges for F&O trading would be 50 per lot however they are still charging me 100 Rs per lot . The excess money was supposed to be reversed in my account but its been a month and it has not been reversed. The customer care executives tell me to talk to my RM and my RM tells me to get in touch with the customer service.

This whole thing has been frustrating and I would be considering closing my account with them. But since I have a lot of open positions I cant before closing them on a decent note.

Please help me get justice in this case