The website shows 100% brokrage return https://wisdomcapital.in/100-days-challenge/ But I am in profit and asking them refund they are saying its not valid now :(
It was really a bad experience for me today when the company Squareoff all my position (in 100%) at 12:31 PM.
I purchased 390000 shares of Ashokleyland at Buying average rate of Rs 87.73
and Shares prices falls down continuously and reached below Rs 86.
Whenever share price falls by 5-10 paisa, I am getting reminders/popup of MTM Margin above 75% etc and I also received a call from Support team (around 12:20PM) in which I clearly instructed him - that I will square off my position before 3:20 today which is normal company practice.
My question is that: When I had clearly instructed to executive that I will clear it myself, then How can the company square off all my position at 12:27 PM (in between the day) by squaring off all my 100% position (390000 shares of Ashokleyland squareoff by HO). See the screenshot attached.
Due to it, I resulted to a loss of Rs 8.15 Lakh rupees.
After 12:30 PM, Share price.. reaches above Rs 86 many times and I will be in better position to square off my position. You can see the Share Share Price at 3:01 showing MTM Loss of Rs. 6.36 Lac, Share Price at 3:12 PM showing MTM loss of Rs. 5.58Lac, Share price at 3:15 PM showing MTM loss of 4.80 Lac, Share Price at 3:18PM showing MTM loss of Rs 4.61 lac, Share Price at 3:24PM showing MTM loss of Rs 4.41 lac, Share Price at 3:25PM showing MTM loss of Rs 4.22 lac, Share Price at 3:26PM showing MTM loss of Rs 4 lac).
It clearly shows that if I square off my position manually or company will auto-squareoff as per their standard timings, My actual loss was below Rs. 5 lac but due to company auto-squareoff at 12:30PM (between the day), I resulted to actual loss of Rs. 8.14 lac. Who will compensate this loss difference (Rs 8.14 Lac - Rs 5 Lac = Rs. 3.15 Lac in total)?
Also, If square off is really needed, then company can square off half of my position so that I will have half shares available with me to square off at better price and by doing so, company Margin percentage goes down below 50%.
It really hurts me a lot when all of my investment gone to "zero" because of company''s silly mistake.
I never forgive Ashlar / Wisom capital for this silly mistake and will highlight the issue with SEBI / Consumer Court / Social media.
Can you please give me any Justified reason for why company squareoff all my 100% position at 12:30 PM and not waited upto 3:20 PM (which is normal company squareoff time)?
Amit Nanda Mb : 9872xxxxxxx User/Customer ID : Wxxx
Ratings:
Brokerage - Very Poor Account Maintenance Fees - Very Poor Website Usability - Very Poor Customer Service - Very Poor Overall Experience - Very Poor
9.1.Vinay JainMar 26 2019 11:28:24 PM
Sir, I am very sorry to hear about your losses, but you should trade in such big trades with cover order or bracket order. In this complete details, you have not mentioned your margin information. Please chk the margin requirement document and make sure you had sufficient fund to hold such position before going to the next level. No broker can trust on your words if you don''t have sufficient margin.
Please make trading website user friendly including web and mobile application. Refer zerodha trading platform for better understanding. Your Google review is not genenue because during the contact to your help desk of IT team they are forcefully suggesting us give 5 star ratting .
Ratings:
Brokerage - Excellent Account Maintenance Fees - Excellent Website Usability - Very Poor Customer Service - Excellent Overall Experience - Average
Brokerage - Above Average Account Maintenance Fees - Above Average Website Usability - Above Average Customer Service - Excellent Overall Experience - Above Average
Very poor trading platform, dosent have back testing facility, poor charts of nothing, dosent have auto trading facility, but still displays it provides fully automated trading facility, they need to upgrade lot in this competitive word
Ratings:
Brokerage - Above Average Account Maintenance Fees - Above Average Website Usability - Very Poor Customer Service - Below Average Overall Experience - Below Average
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Ratings:
Brokerage - Excellent
Account Maintenance Fees - Above Average
Website Usability - Above Average
Customer Service - Excellent
Overall Experience - Above Average