On 21st Dec, With capital of 38,000, I placed 13800 Buy PE @ 120 for a brief movement It went up and I initiated an exit @ market from Fyers web system but it kept giving me message unable to exit and within few minutes brokers web trading platform was completely frozen and down. Tried calling helpdesk but phone was down. all communication was through twitter from Fyers mentioning it to be NSE order fault. To my surprise @ 4.30 when system was up & running I see position log with 6 Short PE, 3 Long PE ( all 13800 PE). Next day (22nd Dec) in the morning I squared off remaining 3 qty. Please find attached contract note for details:-
Shocking for me and question I had was, how can a system initiate High Leverage order with a capital of 38,000, also recently introduced Margin requirement was not considered, so was the RMS system of the broker did not stop any of it. In a way it was an open playground for unlimited qty to be trade and traders were exposed to unlimited risk. I went along with all of the question and they repeatedly blamed NSE for order issue bluntly ignoring their system issue, RMS and no customer support.
For RMS non functionality they said, we had to deactivate the RMS, since order rejection at NSE (Which does not make sense). Today I am in negative with a ledger balance of -90,000 (In total - 1,28,000 -> -90000(+38,000 my capital). It always haunt me with one question and many other traders of fyers, How can RMS be put off
and traders put to slaughter. I have raised a complaint with NSE on NICE and planning to do so with SEBI as well. Your advice in this matter would be appreciated. I just need my capital back, not even asking the compensation for the mental trauma I had and have been going through.
Thanks In Advance!!!
Shocking for me and question I had was, how can a system initiate High Leverage order with a capital of 38,000, also recently introduced Margin requirement was not considered, so was the RMS system of the broker did not stop any of it. In a way it was an open playground for unlimited qty to be trade and traders were exposed to unlimited risk. I went along with all of the question and they repeatedly blamed NSE for order issue bluntly ignoring their system issue, RMS and no customer support.
For RMS non functionality they said, we had to deactivate the RMS, since order rejection at NSE (Which does not make sense). Today I am in negative with a ledger balance of -90,000 (In total - 1,28,000 -> -90000(+38,000 my capital). It always haunt me with one question and many other traders of fyers, How can RMS be put off
and traders put to slaughter. I have raised a complaint with NSE on NICE and planning to do so with SEBI as well. Your advice in this matter would be appreciated. I just need my capital back, not even asking the compensation for the mental trauma I had and have been going through.
Thanks In Advance!!!