Compalint against the broker

Ritesh (Business) (62 Points)

10 January 2008  

Dear Sir,

I am aggrieved by my broker

Fact of the case:

I bought 1000 shares of a company on January 01, 2008 with the expectation rise in the price. However my expectations went wrong and price of that stock started falling. So after two days I went to my broker's office and told him to sell back those shares at market price and he said that ok I will do that. That time price of the stock was by just 4 rupees.

However, next week when he called me to pay for shares I have bought on 1st January, I came to know that he did not sell my shares. On my argument, he said that your order was not preceded only. By now the price of the stock has fallen steeply and now it is traded at 15 Rs. Down than the price at which I had bought it. Finally, I sold these shares today and booked the losses.

Earlier, in one instance, I found a sell entry of some shares in my account which I never bought or sold short.

Please advice me whether I can file a complaint against my broker. If yes, on what grounds..?

 

Ritesh