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Master Trust Complaints

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Master Trust is a discount brokerage company part of the Master Capital Services Ltd. Incorporated in 1985; Master Capital Services Ltd (part of Master Trust Group) is a leading financial services company in India. Master Trust Group entered in to discount brokerage business in Aug 2014. Master Trust offers both flat fees per trade and standard trading plan. They have PAN India presence with a client base of 2,50,000 which covers 300+ locations across 22 states of India Master Trust has f... Know more about Master Trust

Complaint against Master Trust Broker

Master Trust brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Master Trust customers. The Master Trust complaints report analyzes the Master Trust online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Master Trust broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Master Trust complaint no. report also provides Master Trust’s number of active clients. This shows the growth of the broker year on year.

Master Trust Complaints

Exchange Financial Year Total Complaints Active Clients
NSE 2024-25 14 64,498
BSE 2023-24 3 21,517
NSE 2023-24 21 61,273
BSE 2022-23 4 12,447
NSE 2022-23 30 52,754
NSE 2021-22 21 53,867
NSE 2020-21 26 48,645
BSE 2019-20 2 12,239
NSE 2019-20 11 40,021
NSE 2018-19 17 41,710
BSE 2017-18 7 21,207
NSE 2017-18 24 45,757
BSE 2016-17 4 15,412
NSE 2016-17 32 34,623
BSE 2015-16 6 16,346
NSE 2015-16 19 32,003
BSE 2014-15 11 11,835
NSE 2014-15 27 34,161
BSE 2013-14 6 116,335
NSE 2013-14 22 28,596
BSE 2012-13 7 107,285
NSE 2012-13 43 108,443
BSE 2011-12 5 96,268
NSE 2011-12 19 99,656

Master Trust complaint at NSE

2024-252023-242022-23
Active Clients644986127352754
Complaints142130
Resolved through the exchange111825
Non actionable033
Advised / Opted for arbitration001
Pending for redressal with exchange301
No. of arbitration filed by clients012
Decided by arbitrators in favour of the clients010
Decided by the arbitrators000
Pending for redressal with arbitrators002

Master Trust complaint at BSE

2023-242022-232019-20
Active Clients215171244712239
Complaints342
Resolved through the exchange242
Non actionable120
Advised / Opted for arbitration000
Pending for redressal with exchange000
No. of arbitration filed by clients000
Decided by arbitrators in favour of the clients000
Decided by the arbitrators000
Pending for redressal with arbitrators000

Note:

  • * Including against its sub brokers, authorised persons, employees, etc.
  • ** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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6 Comments

6. Binoy   I Like It. |Report Abuse|  Link|July 24, 2024 1:34:52 AMReply
I am a retired person and have invested all my life time hard earned money in Mastertrust through the App called Mastertrust provided by the Group Admin (Melissa) and Account Manager of the group with logo of Mastertrust group. Melissa was the assistant of Professor Puneet Singhania in the group. I was enrolled as a member of “Primary trading account” for Stock Market Investments through Mastertrust.
I have paid huge amount of Brokerage fee (15%) and 50% of taxes in the bank accounts provided by the Account manager. Initially they told me that I can withdraw my money immediately after payment of brokerage fees. After payment of Brokerage fees, they said that I have to pay entire tax to withdraw the money as per new recent SEBI notification. I told them that my bank balance is empty and that too with multiple loans. Then they told me that unless I pay at least 50% of the tax, I will not be able to withdraw my money. So, I paid 50% of taxes by taking further loans. Then, they told me that unless I pay entire tax, I have to wait till 1st November 2024 as my Primary Trading Account under Mastertrust is frozen by SEBI. When I asked them to provide proof/documents, they told me that they cannot provide documents to “Primary Trading Account” holder like Secondary Account as it is between SEBI & Mastertrust. I told them that I can not pay the remaining taxes now due to my horrible financial crisis. The assistant Melissa exited the group first without information. The Account Manager also exited few days back without any information. Now I can not contact with anyone. Now my family is facing terrible financial crisis. I do not know what to do. Can anyone help me?
6.1. Elizesherbuja   I Like It. |Report Abuse|  Link|August 22, 2024 8:48:06 PM
I m also in same situation as yours .
5. Mounika   I Like It. |Report Abuse|  Link|July 6, 2024 7:54:44 PMReply
I have invested all my money in the master trust. I was forced to buy the stock in the group.Now I can't able to withdraw the money.customer care is not responding.Melissa the assistant last time send me the message that she is not responsible for the fund.Unable to call anybody.No one is responding.Any one please tell me who is responsible for this company.
4. SHIVA KUMAR   I Like It. |Report Abuse|  Link|January 1, 2018 11:35:46 AMReply
worst services ,,,Pls don''t trust Master capital services ltd..
4.1. Monika Pathak   I Like It. |Report Abuse|  Link|May 21, 2024 2:22:56 PM
One of the cheaters it seems as are operating in the name of Professor Puneet Singhania, with assistant Melissa, i am not getting my funds back only excuses made funds have been withdrawal and will be credited within 24 hrs. since 17 May 2024, still no funds received. Now the customer manager is telling new story that the funds were invested in illegal fundraising to boost stock prices, is now under investigation. All funds have been frozen. See what the bull shit they mention, seems no. 1 fraud
4.2. Soumya   I Like It. |Report Abuse|  Link|May 21, 2024 3:43:56 PM
I am the one who have all the investment put in the master trust group.Now I can't able to withdraw the money.customer care is not responding.Melissa the assistant last time send me the message that she is not responsible for the fund.Unable to call anybody.No one is responding.Any one please tell me who is responsible for this company.
3. Kishor   I Like It. |Report Abuse|  Link|June 7, 2022 10:57:51 AMReply
i have opened a account with master assuming the service to be good but it was the most pathetic experience i had with them, i have transferred all my shared from one broker to master trust and now when i am trying to close it they are giving excuses since 25th May and two of my stocks are still not transferred to another account
2. Vipin Khandelwal   I Like It. |Report Abuse|  Link|February 12, 2022 6:18:58 PMReply
Master trust payment gateway is one of the worst gateway, every time transfer failed and amount is debited from the account and one another worst thing is there tech team always say we can't do anything on it, you have to collect the statement and again mail them 5-7 time then they consider the transfer failure and start refund, it also takes 3-7 days. so now you think these 10 days you cant' trade. terrible
1. Vipenjeet Kaur Banger   I Like It. |Report Abuse|  Link|September 13, 2021 3:28:14 PMReply
Master Capital Services are the worst nobody know's what are the doing specially the Chandigarh Branch people Ms. Richa Bandra and Mr. Vipan they are just misguiding and are not able to provide the correct information they have no coordination with Noida branch of Master Trust, I highly recommend never trust on master Master trust.