Dec 06, 2007 11:34 AM
4575 Views
(Updated Dec 06, 2007 01:52 PM)
Very poor website, especially for the amount that we pay for their service. As I write this review, the ICICIDirect site is down and the market is booming today(Dec 6) and not able to make any money today! It says "Site down due to technical reasons. Contact site administrator" and does not give me any contact information or any other information on when it will be up again. This is a joke.
ABSOLUTELY not reliable website and you will not be able to buy or sell when you want. Few examples and points -
For day trading - I do not understand their concept of margin trading at all. Why do they automatically "square off" or sell anytime after 1:30 PM everyday, even if I have enough balance allocated for stock trading? If I do not sell my margin stocks, they can convert to delivery as I have enough balance allocated. Why sell at some rate that they like that too at any time in a 2 hour band from 1:30 to 3:30 PM? And if you want to manually convert your margin stocks to delivery, it is extremely difficult to get that page working from 1:00 PM. How can I decide if I need to take delivery by 1:00 PM?
For long term investors - Very limited features for the charges that we pay. Examples - you cannot look at your order book for a date range during the trading hours. You cannot look at your stock details(when bought, brokerage, etc) form your portfolio page during trading hours. Website will be down and they will not let you know in advance even for planned outages. Why cant they send emails in advance about planned outages so that at least we can download some data earlier? I do not accept the argument that the outage is on weekends. As long term investors, We get time only during weekends to analyze and look at stock/MF performances and if the site is down, you cant do anything at all.
The portfolio page is also a very strange thing. When I do a buy or sell of a stock, it will not appear in the portfolio page immediately. And if you have bought anything via IPO, you will have to include the details manually in the portfolio page and you will not know what to enter in most of the fields here. Another example of poor design - when you want to buy without having enough allocation, why cant I be allowed to change my allocation, in a small new window, rather than losing all the data in my buy screen? And this site will automatically chuck you out every 2 minutes. If you keep your "Click to gain" window open, it will keep you partially signed in but you cannot buy or sell.
I do not know who designed this site and what technology they use to run their website and top of all this, who are the people who run this site? These are the guys who are responsible for all my loses.
They do not bother at all for their customers as we cannot do anything. Do NOT try to call their help desk as you will only be wasting your time and phone call charges. You will never get the line or if you get the line, you will hear tons of options and you will get disconnected after waiting for 1.5 hours. I have written to their help desk couple of times and I always a generic message back, giving some lame excuses and that everything is alright in their site. At least, they respond back - so be happy!
