Problem with selling! is my broker a thief?

uanuradha · 21 Re: Problem with selling! is my broker a thief? Sat Aug 20, 2011 8:54 pm

uanuradha

Senior Equity Analytic

Posts : 77
Join date : 2011-02-07

According to my knowledge only STL charges will apply when selling it in same day, am I correct? any one please...

karu · 22 Re: Problem with selling! is my broker a thief? Sat Aug 20, 2011 9:17 pm

karu

Senior Equity Analytic

Posts : 53
Join date : 2011-02-08

investor1984 wrote:

Roboticfx wrote:Thanks all! Now I know my broker is a thief. Once my adviser told me the same thing what all have said. I think account division is doing a secret program. They have only removed gov cess. Not other fees such as broker fees from sold stocks. They don't know who am I. I'm small in age but I'm not small in wisdom. I get immediate actions against this very soon.

Cmon people, this guy is just trying to get the attention.. Those settlements are not manual , they are system generated. If such a colossal error is happened on the side of the broker they must have already rectified it ( bcoz this guy is saying the CESS is not deducted ) , i dont think even if a broker want to cheat, he will choose to not pay taxes to government.

Hey Brother i think if he want to get attention he can get it in lot of other ways....like i want to hang my self or I'm in huge lost ect Very Happy

.... i have a story to tell you....if you believe me or not it doesn't matter .....last week i calculate some of my trades by calculator & got different figures then i checked their charges one by one & found BROKERAGE & CDS fees were wrong....then i called to my broker & told about this case...He also wonder about it & told me "ITS YOUR RESPONSIBLE TO CHECK THOSE NOTES" ( i think he is right)....anyway he told me to send copies of those notes. last Friday i send those to him. still no any message form him....those are not manual generated so can anyone tell me how its happen Question

Kithsiri · 23 Re: Problem with selling! is my broker a thief? Sun Aug 21, 2011 9:05 am

Kithsiri

Senior Vice President - Equity Analytics

Posts : 1758
Join date : 2011-03-25

karu wrote:

investor1984 wrote:

Roboticfx wrote:Thanks all! Now I know my broker is a thief. Once my adviser told me the same thing what all have said. I think account division is doing a secret program. They have only removed gov cess. Not other fees such as broker fees from sold stocks. They don't know who am I. I'm small in age but I'm not small in wisdom. I get immediate actions against this very soon.

Cmon people, this guy is just trying to get the attention.. Those settlements are not manual , they are system generated. If such a colossal error is happened on the side of the broker they must have already rectified it ( bcoz this guy is saying the CESS is not deducted ) , i dont think even if a broker want to cheat, he will choose to not pay taxes to government.

Hey Brother i think if he want to get attention he can get it in lot of other ways....like i want to hang my self or I'm in huge lost ect .... i have a story to tell you....if you believe me or not it doesn't matter .....last week i calculate some of my trades by calculator & got different figures then i checked their charges one by one & found BROKERAGE & CDS fees were wrong....then i called to my broker & told about this case...He also wonder about it & told me "ITS YOUR RESPONSIBLE TO CHECK THOSE NOTES" ( i think he is right)....anyway he told me to send copies of those notes. last Friday i send those to him. still no any message form him....those are not manual generated so can anyone tell me how its happen

Computer programmes are only capable of doing what they have been instructed to do.

If there is a deliberate attempt to swindle unsuspecting, the same instructions can be given by the programmers.

Such issues are to be reported promptly and if found guilty, their brokers licence should be revoked.

maalinda · 24 Re: Problem with selling! is my broker a thief? Sun Aug 21, 2011 3:41 pm

maalinda

Manager - Equity Analytics

Posts : 254
Join date : 2011-01-27

Talk to the Account section. But wait when did you Bought and sold ??? Friday ?

if Yes wait till Monday and see. they may have not updated the account statement yet...

If they have updated the statement and still it shows same figures ask them the reason and ask them explain the thing..

it wont be a issue buddy. Talk in a decent way and see how it goes.

Good luck.

brokers are culprits. Everyone Must check the Buy Sell figures daily basis...

Dileepa · 25 Re: Problem with selling! is my broker a thief? Sun Aug 21, 2011 6:57 pm

Dileepa

Senior Manager - Equity Analytics

Posts : 346
Join date : 2011-03-21

Roboticfx wrote:Thanks all! Now I know my broker is a thief. Once my adviser told me the same thing what all have said. I think account division is doing a secret program. They have only removed gov cess. Not other fees such as broker fees from sold stocks. They don't know who am I. I'm small in age but I'm not small in wisdom. I get immediate actions against this very soon.

Man, do not jump in to conclusions that fast. Your broker may not have any thing to do with that.
As some of other members have pointed out broker fee has to be applied only one transaction.
As for the system it is considered as two transaction and fee will be applied accordingly.
But later on it is automatically adjusted. You should give some time for the system to update.
I have had the same experience before. I believe this is the first time you have done day trading.

mtserasi1952 · 26 Re: Problem with selling! is my broker a thief? Sun Aug 21, 2011 9:10 pm

mtserasi1952

Stock Trader

Posts : 5
Equity Stars : 4640
Reputation : 0
Join date : 2011-08-21

Hi all.....Brokers can't manipulate systems....some online systems are updated the following day or the same day.....All Broker companies who have online systems have to spend millions to give the service to their clients....some have only 1 system....some have two.......still some have 2 and in the process of introducing the third option as well....all you IT savvy guys know how costly to keep an online trading system going let alone 2 or 3 systems......remember for the broking company to keep the broker license with the SEC is not an easy task.....so they are not stupid to manipulate systems to earn money....and these online trading systems are not developed by in house people......CDAX, DirectFN, ATRAD they are independent software developing companies.....so if the broking company is robbing you they must do it with those guys as well....can that happen.....NO.

What has happen here is that you have done a Day Trade....the buy side on a day trade has a total cost of 1.12% and the sell side has a cost of .3% that's it....also note if you sold a stock in your portfolio and bought it the same day the cost works the other way around.....that's known as shorting your own stock.