[Resolved]  Indiabulls Securities — Brokerage Charges - Not Fulfilling commitment

I have opened a Trading account with Indiabulls after there repeated followup.However i was more than happy with my ICICI Direct Account -(Trading with them since last couple of years) but since they charge more brokerage as compared to others hence was looking to open another account.

These guys follow-up and promised me brokerage of 0.2% on delivery and 0.02% on intra-day - irrespective of amount of trade or quality of trade.I repeatedly ask them to send me this in writing/mail-they said that they are giving this from there special rights and hence can not give you on mail.Asked me to believe on them and on the last page of the application form they mentioned the same brokerage.

Out of faith i didnot get photocopy of the same as a proof.

When i got my userid and password and asked them to now confirm me my brokerage on mail as now i am part of your family - they still not mailed me.

every time I write a mail they used to talk over phone - keeping no scope of any written proof with me.

However based on there verbal commitment i traded first for Bharti Airtel - I got the brokerage committed to me i.e. 0.2% for delivery.I was very happy that at least what they commited is being reflected here.

Now comes the bad part.In my very second trade with Anulabs for which i bought 1000 shares they charges enormous brokerage.

When contacted over mail to (RM/BM and help desk) every body is passing ball here and there and no body is responding my mail properyly and addressing my query appropriately.

RM contacted me and said that you have bought shares of low values and hence more brokerage was deducted - i will get it rectified for all types of shares.

I asked her to rollback the extra brokerage charged - she said that is not possible however rest assured me that now onwards you will get the brokerage as committed to you.

I wrote mails to help desk and they simply forwarded that to RM/BM and gave me the email id of VP of the Branch.

Again VP also called me -(He also not responding me on mail).He said that the brokerage charged against Anulabs is right.When i asked him that this is not what committed to me then he said that do you have any written proof.

These guys are simply talking over phone and giving no written response on mail.

I lost my 900/- as account opening charges. Also they blocked 500/- and said that this you will get once you close the account.

I asked them send me the detailed process for account closure so that i may wind up this as soon as possible.

I have such a bad experience with this company.There is no transparancy and they are not doing justice with the client.