I have a complain to HDFC Security regarding one trading.
I do trading with HDFC Security telephonic as HDFC Security site is not accessible in my office.
The details of the complain is given below:
On 10th December I called HDFC Security and ordered to buy 1 lot of TCS share in future in open position at the rate of 706.90 per share.
I called again on 16th December in the morning and put a bid to sell this 1 lot TCS share in future at the rate of 706 per share.
After the call when I saw that TCS share rate is still decreasing then in the day time I called again and ordered to sell my this 1 lot of TCS share in future at market rate. That time the TCS rate was 699. It was asked to me by the executive that “is it for close position? ”. I said “yes”.
Now after that they didn’t sell my that 1 lot of TCS share but in place of that they placed a new request this way “sell 1 lot of TCS as an open position”.
This was the big mistake taken by HDFC Security system because there is a big difference between selling future share as close position and selling future share as open position. If “sell future share as close position” order executes that means profit can only come if the share rate will increase and if “sell future share as open position” order executes that means profit can only come if share rate will decrease.
I was unaware of this change and also it was not conveyed to me.
When I checked my account on 22nd December I found that there is a deduction of 8, 455 Rs from my account. When I enquired about it then I came to know that all this blunder happened.
I talked to HDFC Security and explained everything but they are not ready to accept the mistake. Finally I squared up this position on 24th December at the rate of 744.
There is a straight loss of 45, 000 Rs Brokerage which comes final total loss nearly 55, 000 Rs.
Please help me to resolve it.
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