Fyers employees squaring off clients' positions without consent?

newtrader101

Well-Known Member
#51
A new branch of Trading study is necessary- Dealing with brokers and exchanges. Perhaps even a book. (Atleast a thread listing brokers' malpractices;.)
For the time being, taking prior precautions may be the only way. Like time usage record of brokers' apps everyday (from pc/mobile). A screenshot of the order/trade, and an EOD screenshot.
One of the questions the Fyers executive asked me was what proof do you have to show that your trade was intraday?
That they're able to delete data in their apps on our phone is evident from the screenshots above:
https://www.traderji.com/community/...positions-without-consent.110102/post-1439380
 
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newtrader101

Well-Known Member
#52
The Government has banned forex trading and bitcoin trading. How better is regulated trading here, in the light of experiences with brokers such as there?
Yesterday the MCX person called again, to ask when I'd be withdrawing my complaint against Fyers. I said there was no qn.
Can somebody advise on escalating the issue. I'd posted on pgportal earlier but no response.

Fraud is stealing with a smile.
 

newtrader101

Well-Known Member
#53
I went through all these processes with complaints against both nse and mcx trade issues with broker. complained to sebi . mcx , nse , the broker etc. after months of fighting nothing happens. if at all the so called entities created to " protect" our entities respond it will be in favour of the brokers and not us. i had fights with mcx officials , sebi officials. nothing happens. nse did not bother to respond. it went on for months and i finally got fed up
Which one? Fyers ?
 
#55
Grievance redressal committee hearing by video conference scheduled on 10/2/21
Be prepared for extreme aggression from their side. If possible, shift it to audio hearing, saying that your phone isn't working well these days.

Keep everything ready and stick to your points, don't get sidetracked by aggressive allegations and name calling and blaming you for everything.

Record everything at your end, without informing them, and ask them to send you the complete recording of the meeting. They have to maintain a complete record, but it doesn't mean that they will send you the whole recording.

Confirm this in writing. Again, make your case point by point and mention that it will be the only agenda for the meeting.
 

newtrader101

Well-Known Member
#58
How ?
did they give proof that u punched in the MIS order ?
No. The hearing officer said it was carelessness on their part that they'd made contradictory statements. He asked me for proof that my order was margin.
It was all scripted. Actually it felt like one vs four. A Fyers representative, their lawyer, and two MCX officials- the senior was the hearing officer.
When I tried to show how they'd deleted the history from their app on my phone, he hastily concluded.
Their attorney interrupted me while I was responding to the hearing office', (I questioned the timing of auto-squareoff), the officer did nothing to stop him and listened to him.
When I pointed out this, he said he had asked the question to him, not me!
Then I realised it was a farce.
 
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