Hello
I am a retail investor and a stock broking firm cheated me by advising trades in F&O (I don't have any knowledge in this domain) and get it punched by dealer by getting a confirmation from me. Eventually they make me suffer heavy losses out of which trading loss was approx 20% and brokerage was 80% of losses.
Certain pratice stock brokers RM use to follow are
Call me from his mobile to advice the trade
Dealer call me from recorded line to ask my trade and i use to repeat whatever RM suggested me
Incase of loss, RM kept on suggesting trade to recover past loss.
They are proffesionals and hence they made a recorded welcome call, told me about the risk and role of the broker, made me sign PoA
Eventually when my loss reached alomost 80% of my portfolio, they asked me to pay otherwise they never asked for any payment nor they sold my stocks.
When i was unable to pay they sold my stocks to recover the debit amount.
In the entire loss approx 20% was trading loss and 80% was brokerage fees.
When i reached NSE IGRP, they also favored the stock broker stating that i have agreed to trade by signing certain documents and i have to use my intelligence to trade. Next option given to me is file an arbitration with NSE.
In IGRP, i was clearly seeing that panel is supporting stock broker.
In the past NSE has given variuos awards to the same stock broker.
I want to understand what is the appropriate forum for Retails investor to raise unethical trading practice just to earn brokerage by stock brokers.
Whether NSE arbitration will be an unbaised forum for retail investor?
