Hi traders
I have an account with CD Equisearch. I had purchased some stocks in the equity account and had a debit of Rs 18000 in my account. I also had some 42000 cash in my MCX account with the same broker. I had requested an internal transfer which was not possible due to obvious reasons. How ever when I requested a payout of Rs 42000 I was not honoured with the same and Rs 18000 which was equal to the shortage in my equity account as on that day was held back.
I have been trying to clarify this with the management of the firm but to no avail. I was planning to raise a complaint with MCX in this regard, but thought to first check with all the experienced guys out here if some one has faced some thing similar and has raised a complaint on such an issue.
This issue is important as this might create a lot of confusion and problem when I have a few positions open and there is some crash in the markets and a debit occurs in equity. If on that day I have a credit in MCX and NSEL and if I request for a payout I would not be given the payout from my MCX and NSEL accounts saying that I have a debit in my equity account. My money in my MCX and NSEL account would lie a dead amount which I will not be able to use to fulfil margin defeciency and neither would I get a complete payout. If this happens then stocks would be sold by the broker, fine by NSE for not being able to fulfil my margin requirement and so on and so forth.
warm regards
ranadagger
I have an account with CD Equisearch. I had purchased some stocks in the equity account and had a debit of Rs 18000 in my account. I also had some 42000 cash in my MCX account with the same broker. I had requested an internal transfer which was not possible due to obvious reasons. How ever when I requested a payout of Rs 42000 I was not honoured with the same and Rs 18000 which was equal to the shortage in my equity account as on that day was held back.
I have been trying to clarify this with the management of the firm but to no avail. I was planning to raise a complaint with MCX in this regard, but thought to first check with all the experienced guys out here if some one has faced some thing similar and has raised a complaint on such an issue.
This issue is important as this might create a lot of confusion and problem when I have a few positions open and there is some crash in the markets and a debit occurs in equity. If on that day I have a credit in MCX and NSEL and if I request for a payout I would not be given the payout from my MCX and NSEL accounts saying that I have a debit in my equity account. My money in my MCX and NSEL account would lie a dead amount which I will not be able to use to fulfil margin defeciency and neither would I get a complete payout. If this happens then stocks would be sold by the broker, fine by NSE for not being able to fulfil my margin requirement and so on and so forth.
warm regards
ranadagger