Cheating by a wrong tips by stock broker (99%accuracy)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2011 I have took a tips from special broker (The KB Stock)as on dated 16th December 2011, as per his confirmation i short in Gold Feb at 27431, and he insist to hold till target 27050, now the price was not move on same date so he told to hold till monday.............since i called him 20 to 25times the price was moving against his opinion but he still insist to hold till monday night........and i booked a loss around 47000INr...........Kindly suggest what shall i do........can i book a complaint against him

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
Follow

21 December 2011 Firstly we should remember is Stock markets are associated with risks. Brokers only suggests based on their workings/experience, they cannot increase or decrease the price. It is upto you to take decision and your risk profile.

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2011 Yes its right but if i paying to external agency whos charging Monthly Payment for 99% accuricy............so there should be law if we could loss so broker should bear the loss........

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
Follow

21 December 2011 they will be putting some * at the advices and it varies based on market fluctuations. Do you have any written commitment by broker? If so try to find whether consumer forum will help you?

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
Follow

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2011 there will be no written commitment............so thats why we cannot claim ............but we need to find solution..........

Guest

Guest (Expert)

04 May 2012 If this being the case then all brokers would have got stuck into litigations. We cannot file cases like this. Its all about speculation and we have to determine our risk appetite

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now