Does NSE Listen to genuine complaints about brokers?

#11
Thank you , your words give me little hope that they will set an enquiry to find out what exactly happened that day. 3 days holiday so I will post replied from nse here.
I have not gone through the merits of the case but if you are on sound footing...NSE will make a broker pay up.....but order nor getting transmitted, some issues with brokers trading platform etc these are the risk which are inherent in any online trading......so NSE wont help you in that.....We have signed a risk disclosure document to that effect while opening online trading account.

NSE is very good in investigating a complaint...they understand the trading mechanism.....and brokers cannot fool them ...In fact most brokers are very scared of NSE /SEBI investigation and audit if they do some hera feri in their operations.....they really take the broker to task...

ST
 
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MSN1979

Well-Known Member
#12
1. You bought under CNC ...fine
2. How did you place SL order..is it a CNC order or Mis order ?

Will it allow stop loss CNC against CNC buying of same day ..am not sure ..
did you keep the order screenshot ?
Sir I have been doing it for over 2 years now, sl orders for cnc works , same as mis order. Why would i buy in CNC and put sl in MIS? Not sure what is your question.

Yes I have screen shots. but not all , I did manage to save a few
 

MSN1979

Well-Known Member
#13
I have not gone through the merits of the case but if you are on sound footing...NSE will make a broker pay up.....but order nor getting transmitted, some issues with brokers trading platform etc these are the risk which are inherent in any online trading......so NSE wont help you in that.....We have signed a risk disclosure document to that effect while opening online trading account.

NSE is very good in investigating a complaint...they understand the trading mechanism.....and brokers cannot fool them ...In fact most brokers are very scared of NSE /SEBI investigation and audit if they do some hera feri in their operations.....they really take the broker to task...

ST

Thanks, I will keep these things in mind. I am frustrated by them but I will wait for NSE enquiry.
 

mohan.sic

Well-Known Member
#14
Sir I have been doing it for over 2 years now, sl orders for cnc works , same as mis order. Why would i buy in CNC and put sl in MIS? Not sure what is your question.

Yes I have screen shots. but not all , I did manage to save a few
why would you do is because … anyone can make order entry errors... very common.

why I asked is bcz in point.7 you said the error is something like" not accepting......" generally this kind of not accepting messages come, for example when we are entering/modifying an Intraday order type after the intraday time limit.

*As per your post you placed a SL but could not modify/trail it even once. You tried doing it, but dint go through. It is good if you have screen shots of these error messages saved.

As ST said nse is very strict towards brokers and will not tolerate such issues yet the same it will not consider minor network & technical issues as we already agreed to brokers documentation.

Also NSe/sebi will not consider your point no.11. that price went up by 55-60 rs.
Notional/Estimates will not work. That is, had if you placed a order above 50 rs and your pending order is not executed due to broker network then you have a good case .... but this is a claim of opportunity loss.
Generally in issues like yours, sebi would order the broker to compensate the loss by fixing the square off order at cost price so that client can be at break even. But here you are in profit deal. So chances are less for your case if I understood the issue correctly.

But you must not leave. try hard....
 

The Pig

Active Member
#15
Zerodha is worst when it comes to integrity.Things like this keep happening. i tried closing position once, it didn’t show any order, after sometime,something like order rejected, I placed sell order again and then both orders got executed..! I didn’t observe and had to close position again later, my posts were deleted, they just said I placed wrong orders, no screen shots or proofs,couldn’t complain
 

MSN1979

Well-Known Member
#16
why would you do is because … anyone can make order entry errors... very common.

why I asked is bcz in point.7 you said the error is something like" not accepting......" generally this kind of not accepting messages come, for example when we are entering/modifying an Intraday order type after the intraday time limit.

*As per your post you placed a SL but could not modify/trail it even once. You tried doing it, but dint go through. It is good if you have screen shots of these error messages saved.

As ST said nse is very strict towards brokers and will not tolerate such issues yet the same it will not consider minor network & technical issues as we already agreed to brokers documentation.

Also NSe/sebi will not consider your point no.11. that price went up by 55-60 rs.
Notional/Estimates will not work. That is, had if you placed a order above 50 rs and your pending order is not executed due to broker network then you have a good case .... but this is a claim of opportunity loss.
Generally in issues like yours, sebi would order the broker to compensate the loss by fixing the square off order at cost price so that client can be at break even. But here you are in profit deal. So chances are less for your case if I understood the issue correctly.

But you must not leave. try hard....
I am more able to relate to your previous question after reading this message. It makes sense now. But I would like to point out few things. I hope that it will be clear to you.

Problem will only come If I try to sell from CNC when I don't have shares in Holding, It will still allow me to short in MIS till 3.20. ( I hope you understood what I am trying to say here), my case was quite the opposite. I was long in CNC. I could have shorted in both CNC and MIS till 3.20( and later used convert option) hope you are aware.

I agree NSE should not accept point no 11. But I think you are again missing the crux of the story here. I am not claiming that. I am asking zerodha to send screen shots of those orders. When they do they will fall into a catch 22 situation. If they don't they will be in big trouble by NSE (hopefully). So if they do send then nse will be able to see how I tried to trail my order. If they don't send, I hope they give a good reason to nse why they can't.

Basically, zerodha computers should have 3 TSL orders I enter for each bar and final exit order. My focus is only that right now.

Basically what I feel is zerodha has dig a hole for itself. I just hope NSE gives me a chance for a fair opportunity and simply ask zerodha for the things I am requesting i:e only the orders that were not executed that day, rest I expect the story to unfold automatically.

Thanx for the pointer's, I am also not expecting my money back. If I don't get the money back maximum what will happen is I will loose faith in the system. But I would have tried and maybe my struggle will be an eye opener for zerodha as they would be under scrutiny again,

PS: If anyone read the article in economic times on 19th Zerodha tried to post a cover up ad in economic times trying to prove it was not them at fault. ( search google if you have not already).

I am thinking on lines of maybe it was a paid advert. But honestly I don't know. I wish there was any way to find out the payments made by them.
 

MSN1979

Well-Known Member
#17
This story makes me think a few questions as to exactly what happened. Shall we hold media accountable for such stories? Did they try to find out what really happened?

Few Questions come to my mind

Why would economic times simply print a story from zerodha, without clarifying questions

Was this a cover up or the author had no genuine interest to find out and print the truth?

He claim's that he will send a Reminder message to users but wait!
"WAIT WE ARE TRYING TO EXIT OUR POSITIONS" You are the one who is not allowing us to exit!

Why did economic times did not ask this question to zerodha

We have thousands of tweets on 18th march on twitter and many complaints on Trading QNA that we are trying to exit but zerodha did not let us exit our positions.

Was this article a paint Job?



https://economictimes.indiatimes.co...erload-nithin-kamath/articleshow/74708779.cms
1586014125220.png
 

MSN1979

Well-Known Member
#18
I am pasting a few from trading QNA and Twitter, If NSE is sympethatic towards investor's why this blind eye and no action?

These complaints are just front page, if you scroll them u would see how many pages of complaints are actually present for them. The best thing they do is delete all posts to cover up.
1586015131324.png

1586015111097.png


1586015286211.png
 

mohan.sic

Well-Known Member
#19
I am more able to relate to your previous question after reading this message. It makes sense now. But I would like to point out few things. I hope that it will be clear to you.

Problem will only come If I try to sell from CNC when I don't have shares in Holding, It will still allow me to short in MIS till 3.20. ( I hope you understood what I am trying to say here), my case was quite the opposite. I was long in CNC. I could have shorted in both CNC and MIS till 3.20( and later used convert option) hope you are aware.

I agree NSE should not accept point no 11. But I think you are again missing the crux of the story here. I am not claiming that. I am asking zerodha to send screen shots of those orders. When they do they will fall into a catch 22 situation. If they don't they will be in big trouble by NSE (hopefully). So if they do send then nse will be able to see how I tried to trail my order. If they don't send, I hope they give a good reason to nse why they can't.

Basically, zerodha computers should have 3 TSL orders I enter for each bar and final exit order. My focus is only that right now.

Basically what I feel is zerodha has dig a hole for itself. I just hope NSE gives me a chance for a fair opportunity and simply ask zerodha for the things I am requesting i:e only the orders that were not executed that day, rest I expect the story to unfold automatically.

Thanx for the pointer's, I am also not expecting my money back. If I don't get the money back maximum what will happen is I will loose faith in the system. But I would have tried and maybe my struggle will be an eye opener for zerodha as they would be under scrutiny again,

PS: If anyone read the article in economic times on 19th Zerodha tried to post a cover up ad in economic times trying to prove it was not them at fault. ( search google if you have not already).

I am thinking on lines of maybe it was a paid advert. But honestly I don't know. I wish there was any way to find out the payments made by them.

Problem will only come If I try to sell from CNC when I don't have shares in Holding, It will still allow me to short in MIS till 3.20. ( I hope you understood what I am trying to say here), my case was quite the opposite. I was long in CNC. I could have shorted in both CNC and MIS till 3.20( and later used convert option) hope you are aware.
If you are sure that you placed a cnc stop loss, then we can ignore looking at this point. Also If you saved the error screenshots it would be very useful.

I agree NSE should not accept point no 11. But I think you are again missing the crux of the story here. I am not claiming that. I am asking zerodha to send screen shots of those orders. When they do they will fall into a catch 22 situation.
Zerodha will not have that info in screenshots format, but yes they should have the details.
Every order sent to NSE will have a order number and order modification history along with time stamps and user details. You can get the modification history and all other details from the terminal itself till eod ( customization of screens is to be done to see those details).

NSE will have the complete history of your modifications tagged to original SL order provided if those orders hit nse servers. But in case if the order modifications did not go through brokers servers, then NSE will seek records from broker.

Thanx for the pointer's, I am also not expecting my money back. If I don't get the money back maximum what will happen is I will loose faith in the system.
Regulators will stand for investors against deceit by market intermediate's. Though technical and network issues don't fall under that category, If we have a record of trailing orders, definitely its a case to escalate. Though there are loopholes which broker can take advantage of, you also have a good point to fight.
 

MSN1979

Well-Known Member
#20
If you are sure that you placed a cnc stop loss, then we can ignore looking at this point. Also If you saved the error screenshots it would be very useful.



Zerodha will not have that info in screenshots format, but yes they should have the details.
Every order sent to NSE will have a order number and order modification history along with time stamps and user details. You can get the modification history and all other details from the terminal itself till eod ( customization of screens is to be done to see those details).

NSE will have the complete history of your modifications tagged to original SL order provided if those orders hit nse servers. But in case if the order modifications did not go through brokers servers, then NSE will seek records from broker.



Regulators will stand for investors against deceit by market intermediate's. Though technical and network issues don't fall under that category, If we have a record of trailing orders, definitely its a case to escalate. Though there are loopholes which broker can take advantage of, you also have a good point to fight.

I agree with whatever you say, then why the need for cover up story? When was the last time media was required to do a paint job? Read the article ( in case you haven't)

Also why the CEO himself posting false statements, like sending reminders to user's to exit before 3:20, the case is exact opposite, where everyone is trying to exit and zerodha did not allow people to exit.

They goofed up big time in cover up story. This should be dragged into court. Problem is who will do it?