Samco – Indian Trading League – Review

Fellow Traders and Investors,

All these advertisements by Kapil Dev for Indian trading league spawned my curiosity. I gave them a call which ended at Samco securities, the execution broker for Indian trading league. That is when I realized that this entire initiative is by Samco and Kapil Dev has invested into Samco.

We have already added Samco on our list of 70+ brokers where you can see everything from financials to hidden charges to everything else. Click on this link to check the review about Samco.

Samco seems to have been inspired by Zerodha, not just in terms of their pricing model, but also the Indian trading league being an extension of the Zerodha’s 60 day challenge. They have also gone one step ahead seemingly infringing the copyright violations by copy pasting a few of the pages from Zerodha whose website has been live for the last 4 + years. A couple of examples are given below:

Zerodha.com

zerodha1

Samco.in

Note that even the savings number shown by default matches Zerodha

samco1Zerodha.com

zerodha2

Samco.in

samco2

My verdict on Samco, and should you start a relationship with them? 

1. Samco is erstwhile Samruddhi Securities, and this is their rebranded initiative. The financials of the company even after being in business for a very long time is quite ordinary. If you visit the link on comparebrokerages for Samco, you will see that profits are less than Rs 10lks/year for the last 3 years. The entire balance sheet size for last year (equity and commodity business together) is only around Rs 15 crores, which is the least among all the discount brokers out there. So the question arises if all these prizes – especially Rs 1 crore for the winning trader is actually for real, or just a marketing gimmick to get leads. Yes, they have a new investor in the business, but the question still arises on why would someone invest in a business like this which has quite a bad track record.

2. When this news article was released by ET on May 6th, the website Indiantradingleague.com by mistake was open for public for a few minutes. I guess they realized the folly and shut it down within 5 mins. I was one of the lucky few to have checked out what it was all about even before the launch. They were running a marketing blitz under #eknayileague to give away Rs 1lk to whoever could guess what it was all about. Since I knew what it was, entered into the contest just to see if I am able to win anything( atleast meet Kapil Dev if not for the cash prize). My submission was not even acknowledged forget any prize, the only thing I got from them were spam emails  asking me to open an account with Samco the last two days.

Considering that there are not many reviews available on the trading platform and considering that they seem to be blowing this prize money out of proportion, I think it is best to avoid. Smells a little like the “Hometrade scam” back in 2002 when cricketers and actors started advertising for Hometrade which eventually collapsed and caused losses of over Rs 600 crores to the investors. 

If you are looking at discount brokers, I’d advise you to choose between Zerodha or RKSV

Empowering Indian retail investors/traders,

Comparebrokerages

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25 thoughts on “Samco – Indian Trading League – Review

  1. its really a life time experience opening account with samco . The experience from start has started to give a view that its not gonna last long . No one is clear about documentation required , slowest service , and many times calls will go unanswered. I would better suggest pay a bit and use a service where your money is safe and at least people follow TAT. Don’t waste time with samco , first your account opening will be one big wonder and then the id mappings and funds payout all will be messed up .

  2. The biggest mistake of my life trying to trade with Samco. Account opening took forever, money went missing from my account, platform not working, phone support not there. I got tempted by the Rs 1 crore advertisement, but back to Zerodha now. Zerodha has to be the best in the business today.

  3. Money went missing from my acount platform not woerking phone support not there.igot tempted by the rs 1 crore advertisement but back to zerodha now zerodha has to be the best in the busines today

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  4. samco staff is very careless
    not interested in customers
    i want to open d account
    but facing many problems
    i request to cricketer kapil dev
    dnt ad again to these people
    ur image will spoil
    kapil collecting amount by ads to those people money who lost in trading
    this is gimmick how to loot d people hard earn money tku

  5. Guys, I have a concept of trading tournament , which be a new trend-setter for the clients . I am searching for a broking house, which will atleast have a look , I assure no one can refuse my project.

  6. very bad service ,i will suggest do open account in this ..bad terminal and bad service and brokarege is also very high ..and telling lie that only 20 rupes…

  7. India/s one the best broker in nse/bse, mcx, cds market. I am very happy to open an account with samco. i like there all services and facilities.

  8. Opening an account with samco have really relieved me from heavy brokerage amounts. now i can save and invest much better way

  9. Opening an account with samco have really relieved me from heavy brokerage amounts. now i can and invest much better way.

  10. Hi,

    I was very much interested in trading with your company. However your service has let you down. I am writing to you about this.

    I registered 15 days ago. I was promised pickup of docs. After I followed up the pickup man came last week to collect docs. All docs were given but did not hear from you. I received call yesterday and for my surprise I was told that you are sorry for not collecting the docs and would arrange again.

    Can anyone tell me what’s going on? There looks to be no Co – ordination among your team.

    Please can someone clear the mess and call me.

    ALL THIS IS CREATING DOUBT IN THE MINDS OF PEOPLE

    john Pais

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