Conspiracy by brokerages not to allow buying?

[deepakraam]

I faced a lot of problems in sharekhan.I wasn't able to place any order in sharekhan.Even worse when I transferred money from my ICICI accnt to sharekhan accnt the transaction failed and still the money hasn't reached me.Having a very hard time with Sharekhan.Anyone facing the same problem?


-Deepak.

 

[qa_y2k]

no..yesterday I was able to buy few stocks using sharkhan...did you checked your orders correctly..?

Yes,i had the same problem...thanks to sharekhan i couldnt even log on to the system till like 2.30....anyways,i know these suckers well thts why i have my capital equally distributed in 3 brokerages....i did get to buy the scripts through religare which was functioning all day....my sincere advice is instead of relying on a single brokerage try to go for atleast 2...if one fails u know u can get the job done by the second one.
all the best

 

[jrfab]

Hi guys ,,, having read comments on this thread and also having heard experience of many of my friends and colleagues , one thing is clear that the brokers clearly are making a fool of their clients ,,,, many of my friends who had credit balance in their account were not allowed to purchase stocks when the market crashed yesterday ,,

What I wld advise people to do is to open accounts at the head office branches and not with franchisees ,,, often what happens is that these fran, do not have adequate limits and hence all accounts with such fran are suspended when there is a market crash or a similar crisis ,,,

Even I faced a similar prob but to be frank I didnt have much left in my bank to take advantage of the crash

 

[vasa1]

No problem with Geojit silver platform. I transfer money from Axis Bank to Geojit but avoid doing the transfer during business hours.

 

[WildFire]

I had the same problem with Sharekhan. I had funds to buy 50 shares but everything was rejected until the numbers came down to 10. But by the time i got a successful order placed, the script price went 5rs up and i never got any yesterday.

So bad!!!!!!!

 

[ellisprem]

Hi, Fellow board members! Me too affected ! My icicidirect never opens till 2.30pm! I did a trick when market Haulted in the morning, I placed off line orders on cash market! All orders are executed but i came to know this at 3.00 pm only! When i try to buy GMR infra at 115Rs my order verification page hanged for an hour! Thank u Mr.KAMATH what a wonderful trading platform u have???????!!!!!! So all icicidirect board members sent your greetings to Mr. KAMATH!

 

[Czar]

During a bloodbath allowing short-sell can make the situation worse, as in a falling market everyone will speculate on a further fall and try to short-sell which will obviously increase the selling pressure and hence promoting the nose-dive of markets.

I'm not sure if this is a regulatory requirement or the brokers do it due to some capital adequacy constraints...All I know is that not allowing short-selling is good for investors whose money is in there And one day one of us can be among those!

that's a very amateur view, someone holding a few crore worth of stocks in cash market & in such crash cannot sell due to lower lower circuits, need to hedge & sell nifty instead to salvage the losses, later when markets stabilize he can cover nifty & sell his cash scripts, with your psychology he lands up loosing heavily...

this would even apply for small investors stuck in cASH scripts..

 

[sillu_m]

today i used india bulls and sharekhan but i have no problem in buying and selling even today i buy share worth 4 lacks in morning instantly.

 

[uasish]

It is always prudent to select a reputed Broker having National footprint with High credibility.

 

[Raj_sachdev]

It is always prudent to select a reputed Broker having National footprint with High credibility.

HI uasish, cud u plz name 1 broker who is like that?

I use Indiabulls and ICICI, I bgt in indiabulls near 4525 nifty fut., it was quite easy to buy as compared to icici, but in the evening i got the call that my position has been squared off, without even asking me at 4809.

and the caller told me "humne sirf aapki nahin sabki position tod di" and I said who gives a damn i was in profit maybe others were not. I had all margin money also as I hadnt utilised all my cash by then. Now i dont need to tell what happened to nifty on 23rd. So all of them r the same. They sqaured off profitable positions, and created more selling. Most of the panic according to me was created by brokers selling.