Is penalty charged by broker is genunine.

Discussion in 'Investors Grievances' started by tradertrader, Dec 11, 2016.

  1. tradertrader

    tradertrader Active Member

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    Hi guys. Last few days my broker telling me that I have margin short fall. That may be 1-2 times as shown in margin report send by broker himself in mcx. But most of time I transferred fund same day and broker given credit of same but charged penalty. They use to call me but I was unaware of rule said ok. But I found penalty of rs 1536 approx deducted. I was shocked. And on the same day no margin short fall as per report. Is my broker doing right. I am posting here image of report. Please help.http://www.traderji.com/brokers-trading-platforms/103335-finvasia-13.html#post1192835
     
  2. travi

    travi Well-Known Member

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    where is the image?

    Edit: got the link, what does Finvasia have to say about this ?
     
  3. tradertrader

    tradertrader Active Member

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    Hi Ravi. This is image http://www.traderji.com/brokers-trad...ml#post1192835. Actually many times they have deducted penalty though statement showing 2 times negative balance. Can u ask your broker that if margin available same day is liable to penalty.
     
  4. tradertrader

    tradertrader Active Member

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    Due to weekend not able to talk I have mailed them to give illustration.But pirma facie reading circular and on net it is showing that if at the end of day margin available then no penalty. If this then matter of worry how they are earning more than brokerage.
     
  5. OneThatGotAway

    OneThatGotAway Well-Known Member

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    yes they can charge penalty even if u have R.s 1 short.

    this year i have penalty of -0.7 paise and i am not even kidding :(
     
  6. osho343

    osho343 Member

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    As per rule penalty will charged.you must have full margin for carry over next day.after p/l and taxes ur ledger must have no debit
     

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