Samco Securities has built its reputation on being an accessible, technology-first broker for everyday investors.
But behind the promise of affordable trading lies a pattern of complaints that has been quietly growing year on year.
From unauthorised trading concerns to service-related grievances, the data raises some questions worth sitting with before you commit your money to this platform.
This blog takes an honest look at what investors have been experiencing and what you can do if you find yourself in a similar situation.
Samco Securities Complaint Overview
Samco Securities is an Indian stockbroking firm that has positioned itself as a technology-driven, low-cost trading platform, offering services across equities, derivatives, and mutual funds to retail investors across the country.
Despite its focus on making investing accessible and affordable, the complaint data tells a story that deserves a closer look.
Exchange Complaints Data
The following analysis examines Samco’s Exchange Complaint Data across four financial years, from 2022-23 to 2025-26, to understand how grievances have trended over time and what that means for investors on the platform.
| Financial Year |
Total clients |
No. of complaints | % of complaints w.r.t. Total clients | Resolved complaints | % of resolved w.r.t. complaints |
Arbitrations |
| 2022-23 |
89861 |
42 | 0.04 | 36 | 85.71 |
1 |
| 2023-24 |
89861 |
58 | 0.06 | 57 | 98.27 |
0 |
| 2024-25 |
80038 |
74 | 0.09 | 74 | 100 |
0 |
| 2025-26 |
52626 |
49 | 0.09 | 45 | 91.83 |
0 |
The complaint numbers here are relatively modest, but what stands out is the steady upward climb from 42 complaints in 2022-23 to 74 in 2024-25, even as the client base was actually shrinking during that same period.
This means a growing proportion of active clients were unhappy enough to formally complain.
The resolution rates tell a mixed story, too, starting at a concerning 85.71% in 2022-23, improving to a perfect 100% in 2024-25, and then slipping back down to 91.83% in 2025-26, leaving 4 complaints unresolved with no clear explanation.
What makes this particularly worth watching is that the client base has dropped significantly from nearly 90,000 to just over 52,000 in 2025-26, and yet complaints as a percentage of total clients remain unchanged.
This might suggest that whatever is driving dissatisfaction has not been addressed, even as the platform gets smaller.
Types of Complaints Against Samco Securities
These categories offer a closer look at the specific issues investors have reported, helping identify recurring problem areas within the platform.
| Complaint type |
Description |
2022-23 | 2023-24 | 2024-25 |
2025-26 |
| Type I |
Delay in payment |
6 | 6 | 5 |
2 |
| Type II |
Non- receipt/ delay in securities |
– | – | 2 |
– |
| Type III |
Non-receipt of documents |
1 | – | 2 |
– |
| Type IV |
Unauthorised trading |
1 | 7 | 21 |
13 |
| Type V |
Service related |
6 | 37 | 21 |
19 |
| Type VIII |
IPO related |
– | – | 1 |
2 |
| Type IX |
Others |
7 | 9 | 22 | 15 |
-
Delay in Payment and Non-Receipt or Delay in Securities
Payment delay complaints have been consistently present across all four years, and securities-related complaints appeared in 2024-25 before disappearing again.
The numbers are small, but clients waiting on their own money or securities is never acceptable, regardless of how few cases there are.
-
Non-Receipt of Documents
This category appeared briefly in 2022-23 and 2024-25 before dropping to zero, suggesting an inconsistent rather than systemic problem.
Even so, clients not receiving their documents when they should is a basic service failure that points to process gaps.
-
Unauthorised Trading, Service Related and IPO Related
These three together tell the most concerning story.
Unauthorised trading jumped from 1 to 21 in just two years, and service complaints spiked dramatically to 37 in 2023-24 before partially settling.
Together, they account for the majority of complaints and suggest serious ongoing issues with how the platform serves and respects its clients.
-
Others
“Others” category is for complaints that are too minuscule to give them their own section.
The Others category has grown steadily from 7 to a peak of 22 before settling at 15, pointing to a consistent stream of grievances that do not fit existing categories.
Impact of These Complaints on Investors
Such complaints can lead to direct financial losses, especially in cases involving unauthorised trades or delayed fund access.
They also create uncertainty and erode trust, making investors hesitant to rely on the platform for critical transactions.
Over time, repeated issues can disrupt investment strategies and affect overall confidence in the market.
When to Take Action Against Brokers?
Not every issue requires escalation, but certain warning signs should prompt immediate action. Acting early can protect your funds and strengthen your case if the situation worsens.
You should consider taking action in the following situations:
- The broker is unable to provide valid order records or transaction proof
- Trades appear in your account that you did not authorise
- There are unexplained charges, delays in fund withdrawal, or missing securities
- The broker fails to respond to your complaint within a reasonable timeframe
In such cases, do not wait or assume the issue will resolve itself. Escalating promptly through the proper channels can make a significant difference in the outcome.
Delaying action can reduce your chances of recovery and weaken your position in any formal dispute.
How to Complain Against a Stock Broker?
Facing issues with your broker can feel confusing, especially when money is involved and responses are unclear.
Having a structured approach ensures you stay in control and take the right steps without missing anything important.
Step 1: Gather and Organise Evidence
Begin by collecting all relevant documents- trade confirmations, account statements, emails, call recordings, and screenshots.
A well-structured record not only strengthens your case but also speeds up the resolution process.
Step 2: Verify the Issue Carefully
Before escalating, double-check your transactions, charges, and communication history to confirm the discrepancy.
Sometimes confusion arises from misunderstood charges or delayed updates, so clarity at this stage is crucial.
Step 3: Raise a Formal Complaint with the Broker
Contact your broker’s official support or grievances team with a clear and detailed explanation of the issue.
Attach all supporting evidence and ensure your complaint is acknowledged with a reference number.
Step 4: File a Complaint in SCORES
If the broker fails to respond or provides an unsatisfactory resolution, lodge a complaint in SEBI.
This brings the complaint under regulatory oversight and enforces a structured response timeline.
Timely escalation shows seriousness and increases accountability on the broker’s end.
Step 5: Opt for Arbitration if Needed
If the issue remains unresolved, proceed with arbitration in the stock market through NSE or BSE.
An independent panel reviews both sides of the case and evaluates the submitted evidence.
Need Help?
Finding out that something has gone wrong in your trading account is unsettling, and the road to resolution can feel long and complicated, especially when you are trying to manage it alongside everything else.
Getting the documentation right, identifying what actually went wrong, and presenting it effectively to the right authorities takes time and attention to detail.
A misstep anywhere along the way can slow things down or hurt your chances.
If you would rather not navigate this alone, register with us. Our team will also help you in tracking SEBI complaint status online.
We will handle it with the seriousness it deserves.
Conclusion
When you entrust your capital to a brokerage, you are paying for both market access and professional integrity.
However, Samco’s recent performance metrics suggest a widening gap between those expectations and the actual investor experience.
As can be understood from the data, many users have raised alarms regarding Samco unauthorised trading, where positions are allegedly opened or squared off without explicit client consent.
Apart from that, delay in payment and service-related issues also raise concerns.
If you notice discrepancies in your ledger or trades you didn’t authorise, the “wait and watch” approach is your greatest enemy.
Regulatory data shows that the likelihood of fund recovery drops significantly the longer an investor waits to flag an issue.
