upstox stole my 20,000

[timepass]

Ok. So you wrote to them, did their auto responder give you a ticket number ?? Do you have a copy of that mail in your sent folder ??

All the while, please remember that Traderji members can only offer some guidance, but you have to pursue the matter yourself, vigorously.

 

[chaku101]

Ok. So you wrote to them, did their auto responder give you a ticket number ?? Do you have a copy of that mail in your sent folder ??

All the while, please remember that Traderji members can only offer some guidance, but you have to pursue the matter yourself, vigorously.

yes i have multiple ticket number.
Yes I understand that, I was just looking for my options if they don't refund my money. Thanks for your answers.

 

[timepass]

yes i have multiple ticket number.
Yes I understand that, I was just looking for my options if they don't refund my money. Thanks for your answers.

Cool, now you can escalate this issue. Mail them informing that you intend taking it up with higher authorities.

Then you can write to scores.gov.in

Keep us updated about it.

 

[imfine]

yes i have multiple ticket number.
Yes I understand that, I was just looking for my options if they don't refund my money. Thanks for your answers.

There are two issues.

1. is that you have got loss upto the margin of what you have kept with them ie 20k. In this case if its proved that your position goes against you.
2. There is no need to pay anything above 20k in any case.

You have to fight for case 1 and they will fight for 2.

 

[imfine]

What do u mean by OCO ?

 

[newtrader101]

@chaku101
Sorry about this
It had happened a few times for me with Zerodha. After squaring off, my positions would still show balance, and in panic I thought the order had not executed and manually executed the order again. But it was for smaller amounts.

• You said you placed the order through OCO. Was the second order of 5300 also OCO?
• If you accessed their platform through your browser, it would be a good idea to save the history for that particular day and time.
• Btokers are supposed to keep record of every order for a stipulated period of time (not sure how long). They may not show you this, but if SEBI directs them, they have to. So make your case quickly.

 

[timepass]

What do u mean by OCO ?

One cancels other - like BO/CO where the SL order is cancelled if the target is executed.

 

[timepass]

@chaku101
Sorry about this
It had happened a few times for me with Zerodha. After squaring off, my positions would still show balance, and in panic I thought the order had not executed and manually executed the order again. But it was for smaller amounts.

• You said you placed the order through OCO. Was the second order of 5300 also OCO?
• If you accessed their platform through your browser, it would be a good idea to save the history for that particular day and time.
• Brokers are supposed to keep record of every order for a stipulated period of time (not sure how long). They may not show you this, but if SEBI directs them, they have to. So make your case quickly.

Very important points. Very important to take prompt steps and approach SEBI.

 

[cloudTrader]

I only had enough margin to buy 3000-3500 quantity Even if I had enough margin, my argument is that I only placed a single OCO buy order of 3000 quantity and I didn't do any modifications after that. So selling 5300 quantities when I only bought 3000 quantities doesn't make sense at all.

You have a very valid point.

 

[jagankris]

It had happened a few times for me with Zerodha. After squaring off, my positions would still show balance, and in panic I thought the order had not executed and manually executed the order again. But it was for smaller amounts.

And you ended up with loss those few times ? What was your follow up actions with Zerodha ? and What was Zerodha's response ?