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sr_v@user (ACCOUNTANT)     26 September 2022

Currency option trading position squared off by broker

I've been holding a demat account with broker Motilal Oswal  & have been trading currencies(Futures & Options) from June-2022. I've always been maintaining sufficient margin when short of funds but today when market opened at 09.00 am, I was at a loss of Rs.3 Lakhs & was short of margin but broker without even intimating me squared off all my currency making my position to zero by 09.20 am. Now i'm at a loss of almost 04 lakhs. Can i take any legal action on broker? Kindly guide


 1 Replies

Sourav Das (Advocate Supreme Court of India)     26 September 2022

Issue legal notice through advocate, stating your greviences.  Then complaint before consumer forum. 

Generally these kind of matters are settled amicably after issuing legal notice itself, do not worry.

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