3 Responses to “My trading experience with Brokers..”

  1. 1 Moz
    May 19, 2015 at 12:56 pm

    Thank you so much for your inputs and it helped me a lot as I have an account with BMA from the last one year. Like you I was also new when I got the account opened with BMA Wealth Creators but with the series of bad experiences I had with them , I will never ever recommend BMA Wealth Creators to anyone. I was never informed that my Advance Brokerage Plan (for which I paid Rs30,000 to them) will be valid for only one year. Recently , I got a call from BMA and they told me to get it renewed otherwise I will loose my Rs29,900 . But when I said I was not informed about it by your reps , they said it was my mistake as I have to go by agreement wherein they already procured my signature without letting me know about it. I told them I have not made more than one transaction in the last year hence as an exception the whole amount shall be transferred. But to my surprise , they asked for consideration and told me only If I take an additional product like Religare Accidental Insurance Policy or Exide Life Insurance or any Pension plan , then only they will waive it off the renewal amount of Rs5000 from my existing account and if I do not get any additional product from them or get it renewed by paying Rs 5000 more as a renewal charge , they will close my Advance Brokerage Plan and the money stuck there will be lapsed. I don’t know what to do now as neither I liked their products which they offered me , neither I trust BMA as they never assisted me when I required their help and lastly I dont want to pay any more money to them to renew my existing acccount. Any suggestions ?


    • August 1, 2015 at 7:12 pm

      As I had written in my blog…My experience with BMA had been pathetic..now I am done with BMA..will never ever trade with BMA or advise anyone to open account with them..
      In your case, as per agreement signed by you..legal recourse for you is limited..even though you had not traded. Best thing you can do is not to go for any additional product with BMA. You have already lost 30k..don’t lose any more money with them.


  2. 3 Deena
    September 13, 2015 at 10:50 pm

    ICICI Direct is the worst and they just rip you off in brokerage

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