Subject: MarketMagnify – launched a complaint in SEBI
My Name: Kedar Kulkarni
My City: Pune
My Complaint Against: MarketMagnify.com
Complaint Category: Stock Brokers
Claim Amount (Approx.): 450000
My Complaint Description:
Firstly if you shown some interest then they show their tracing sheet which surly not true which is on their website
This is my real personal experience with them, so this is my personal request to you, please do not start business with MarketMagnify, If you shown some interest, then their sales persons calls, confirming for more and more return, if you paid for services then begging for more and more money and looting after giving more information your investment, Also confirms you will get best service, returns and good market expert. if you not having money then also asking to put more trade money by arranging the money from relatives from credit card, after we make additional trading fund they again started begging more & more service fees.
if you ask for refund, firstly they confirming to refund the money, they said they have some refund plans or if the money is not returned then you will get some free services or service person, for that we have to place a bid, for bidding if we paid money, then said you are selected for the better service and you will get the proper service person and to get that better service we have to remain in bid and paid more have to remain in bid, if you not paid more more you will not get back your money or not get the proper service or better market researcher,
But at the end you will not surly getting better market researcher or refund for your money and now you are in beg debt and also loss from market.
They are moving your profile to each and every so called market expert, they also saying if you paid more money they could make you profit sure.
I paid them Rs 1, 00, 000 as service fees and loss all the trading balance.
If you loss between SMS/calls then moving your profile to another so called market expert, giving calls from which you have confirmed loss, then saying we want to recover your loss for which you must have to follow proper way in the market.
They confirms me returns of 4.5 Lacs in 3 months, but had a 2 calls which gives me total loss and my balance is zero now, had a more personal loans and also had a relatives money, which will be given back to them.I used the services for 1 month.
I stopped my service and following them to refund but they denying to refund.
So please don't fall in trap which are created to loot the peoples.
Recently launched a complaint in SEBI on website: scores.gov.in
Thanks and regards.