Reported By: Keval Agrawal
Contact information:
Eqwires Research Analyst – SEBI Reg no – INH000007465 Ahmedabad
https:// www.eqwires.com/
I approached the Eqwires for help and guidance in trade investments. As per the procedure, I paid for my services agreed to the risks involved, and accepted the condition to give a 30% share to Eqwires when there’s a profit incurred. All this with the trust that I will be guided personally and even if I incur any loss it will not leave a deep dent in my pocket, however, my experience with these services turned out to be extremely bitter and left me in heavy debts.
In October 2021, I incurred an approximate loss of 1 lakh Indian Rupees during the PFC future trade. With my continuous observation of my loss amount increasing, I persistently kept asking my then-relationship Manager, Vishal Rana to release the hold but he kept insisting on holding the same, but this just shows the incompetency and lack of respect from the employees of Eqwires towards the customers who believe in their services. At the end of it all the stocks never came up, I did not mind the loss, the issue is the amount of loss Mr. Vishal Rana made me go through and it didn’t stop there. On December, 22, my second relationship manager Mr. Parshwa got me in the same situation and I incurred a loss of 62 thousand Indian Rupees. I am failing to understand if these traits qualify me to be a research analyst.
To make my experience further worse with Eqwires, I would like to inform you that the company is also refusing to repay me the money I paid for the services I haven’t utilised. I made a transaction of 45, 600 Indian Rupees for the 3rd service but having incurred a major loss of almost 2 lakhs in my first two services with them I chose to withdraw from the same. The company is leaving me with no choice but to take their services for the third time and they don’t refund the fee, I need an answer, on what basis are they seeking my trust to risk my hard-earned money after two major losses and many more losses.
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