Issues with Unicon Securities

[finch]

NSE openly says for refund upto 15 lakh, without any terms and condition

though I never faced this condition personally

Its not openly without any terms and condition. They have lot of requirement like 2 years contract notes, ledger accounts etc. Now if broker itself is absconding how is investor supposed to supply these documents especially if someone an online trader and website also not functioning to download all these docs. In one complaint filed in april I had submitted a screenshot from the unicon website showing my account balance with Unicon and NSE rejected that complaint saying its not sufficient proof. I mean its not my website. Its brokers website and its showing that amount still they are not accepting. One wonders if they want to help investors or harass them more.

 

[tradedatrend]

2 years contract notes,

Not just 2 years, we receive contract notes on our mail, we can provide
contact note for lifetime



ledger accounts

Ledger accounts are mailed to us on weekly basis




Not sure if you delete your mails willingly!

 

[ram2010]

Its not openly without any terms and condition. They have lot of requirement like 2 years contract notes, ledger accounts etc. Now if broker itself is absconding how is investor supposed to supply these documents especially if someone an online trader and website also not functioning to download all these docs. In one complaint filed in april I had submitted a screenshot from the unicon website showing my account balance with Unicon and NSE rejected that complaint saying its not sufficient proof. I mean its not my website. Its brokers website and its showing that amount still they are not accepting. One wonders if they want to help investors or harass them more.

Its totally unfair from nse.

its not advisable to keep more than 20000 with any broker in trading account.

 

[ram2010]

2 years contract notes,

Not just 2 years, we receive contract notes on our mail, we can provide
contact note for lifetime



ledger accounts

Ledger accounts are mailed to use on weekly basis




Not sure if you delete your mails willingly!

Whether most traders were saving their contract notes with their pc on day to day basis.

what would be the situation, if their hard disk crashed for any reason?

 

[tradedatrend]

Whether most traders were saving their contract notes with their pc on day to day basis.

what would be the situation, if their hard disk crashed for any reason?

I never delete my mailbox, Hard-disk is immaterial for me

 

[finch]

2 years contract notes,

Not just 2 years, we receive contract notes on our mail, we can provide
contact note for lifetime



ledger accounts

Ledger accounts are mailed to us on weekly basis




Not sure if you delete your mails willingly!

I know that but unicon used to send only daily trade confirmation mails and contract notes you could go to the website and download any time...whenever i had any issue i used to log in to the site and download but now website itself not working then what to do....no one anticipate anything like this...but why should screenshot from broker website not be accepted....if u read order of sebi against unicon they had said that unicon didnt cooperate in furnishing details...if they are not giving anything to sebi how nse expect investors to get from broker all these details....the point is investors losing money for no fault of their...effort should be made to help them...its all very well to say why u didnt save contract notes and all but if there is alternative proof that should be considered ....

 

[lemondew]

I use zerodha. I know zerodha sends daily contract notes. It also sends daily margin statement. I guess that would be the ledger.

Traded,
Other brokers might or might not be sending as stated by the user finch. One thing is that we need to use mail like gmail to take all our contract notes not use some company emails which may provide limited storage and save it. Thats an important lesson. As a rule its important to save all your contract notes.

I never delete my mailbox, Hard-disk is immaterial for me

 

[lemondew]

I also know my father does investment. He doesnt get contract notes on email. He uses old fashioned call and trade. It may be difficult for such people to produce 2 years physical contract notes. Also the last one month ledger should suffice. Why they need ledgers of 2 years back.

 

[lemondew]

I want to add 10 lacs Rs in fixed deposit means 7500 Rs / month. 0.75% in FD. If 10 lac is all a person has and he is a trader. If that money is taken and NSE gives back after 2 years. It means he lost 7500 *24 = 180000 Rs plus his trading job for 2 years lost as he has no capital 2 trade for 2 years

 

[finch]

I use zerodha. I know zerodha sends daily contract notes. It also sends daily margin statement. I guess that would be the ledger.

Traded,
Other brokers might or might not be sending as stated by the user finch. One thing is that we need to use mail like gmail to take all our contract notes not use some company emails which may provide limited storage and save it. Thats an important lesson. As a rule its important to save all your contract notes.

i also started using zerodha now...and saving contract notes also