Most Complained Stock Brokers

Check All Kinds of Top Stock Brokers

When one wants to know the Most Complained Stock Brokers in the industry, it implies that a person is doing due research before opening a demat account for him/herself. This is a good thing to do for it helps you to stay away from brokers that might be a problem for you in the future.

Furthermore, while making sure that you stay away from such lousy stockbrokers, you are definitely leading yourself towards smart investments too.

Like every other industry, Stock Broking space in India also has a mix of top and worse performing players. There are different metrics to decipher the quality of the stockbroker, such as:

  • Trading Platforms
  • Value for money brokerage
  • Exposure
  • Customer Service
  • The range of trading products
  • Research and recommendations

There may possibly be other factors too, but more or less these are primarily some of the facets which clients look into.

Although the stock market industry is tightly regulated by SEBI followed by its registered indices NSE (National Stock Exchange) and BSE (Bombay Stock Exchange), still there could be situations where clients get some bad taste in their mouth.

In such cases, clients can directly complain against the broker either by following the online process or they could carry it forward in the traditional offline way.

For people who don’t know how to take things forward, they can check out this detailed article on What to do when your Stockbroker goes bust!

In this review, we have compiled a list of 10 most complained stockbrokers that have received the highest number of complaints in this financial year. The industry complaint average is 0.06% which basically means for every 1000 clients across stock brokers, 6 of those have registered complaints against one stockbroker or the other.

The criteria of this list is that the Stock Broker must be registered with SEBI and must have at least 1000 active clients for the financial years 2017-18, 2018-19 & 2019-20.

List of Most Complained Stock Brokers for June 2019

Industry Average: 0.01%

List of Most Complained Stock Brokers for October 2018

Industry Average: 0.02

List of Most Complained Stock Brokers for September 2018

Industry Average: 0.02

List of Most Complained Stock Brokers for January to June 2018

Industry Average: 0.02

This list gives you an idea that what percentage of the clients of these stockbrokers are not happy with their stockbroker.

Higher the percentage, worst the experience provided to the clients by the broker. In the next part, we will come up with a list of stockbrokers with the highest number of active clients but the lowest percentage of complaints against them.

The list does not talk about the highest number of complaints simply because bigger stockbrokers have a higher number of active clients in total and correspondingly high “number” of complaints. But this does not imply that their percentage of complaints are high too.

At the same time, there are few stockbrokers such as Samco, that offer reasonably low-quality services but their overall percentage is still intact. Furthermore, you can also refer to this article on Worst Stock Brokers in India from other perspectives too.

Broker Name
Most Complaint Stock Brokers
Overall Rating

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