Hello,
I invested in good faith with a BSE broker named SIC Stocks & Services(INB 0111180339) about 6 months ago. I signed up with this brokerage on the recommendation of a friend. Boy! was that a mistake!
I started noticing transactions where the broker was doing day trades on my account and making commission while I was losing money. When I tried to close the account and recover the money, he sent me a closing statement with transactions on stocks that were priced much above the trading prices at any time during the last six months the account was active! When I ask for contract notes and explanation he simply refuses!
What is the redressal mechanism for dealing with an uncooperative broker like this? I am afraid I am not the only case...How do I recover my money and at the same time put this broker out of business?
Suggestions extremely appreciated!
I invested in good faith with a BSE broker named SIC Stocks & Services(INB 0111180339) about 6 months ago. I signed up with this brokerage on the recommendation of a friend. Boy! was that a mistake!
I started noticing transactions where the broker was doing day trades on my account and making commission while I was losing money. When I tried to close the account and recover the money, he sent me a closing statement with transactions on stocks that were priced much above the trading prices at any time during the last six months the account was active! When I ask for contract notes and explanation he simply refuses!
What is the redressal mechanism for dealing with an uncooperative broker like this? I am afraid I am not the only case...How do I recover my money and at the same time put this broker out of business?
Suggestions extremely appreciated!
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