Jun 05, 2010 08:39 PM
11932 Views
Last review here about Indiainfoline Premia or IIFL premia on mothshut.com forced me to sign up and write what Indiainfoline is. Let me tell you my story which goes like this:
I opened demat cum trading account with Indiainfoline in January 2009 after closing my account with ICICI Direct. I had shares worth Rs 9.5 lacs at that time and for me demat account used to be a bank account where I used to buy good stocks for investment purposes since I was not a trader. One fine day in Feb 2010 Indiainfoline started IIFL premia to finally loot the customers who have shares worth Rs 5 lacs in kitty. I got a call from a lady regarding there IIFL premia wealth management product, I was not that much interested but the lady followed me up for 14 days and above I finally said "Yes" and infact "yes" to the misfortune. They reduced my Rs 9.5 lac portfolio to just Rs 3 lac by over trading in my account just to generate brokerage, I ended up generating Rs 1.7 lac of brokerage for Indiainfoline. I never used to trade in futures and options but they did everything in my account infact a guy told me that they train equity advisers on client's portfolio by allowing him to trade any stock which he feels like.
Please stay away from this company for god sake. Indiainfoline is a piece of junk.
