One of my trades was executed when the stock was at LC (20%). I went long, and the trade was intraday, so I had to buy all the positions. The stock went on to hit lower circuits for the whole next week, and my capital was reduced to 50%(in this stock).
I want to know if I can hold the broker (groww) responsible and get a refund for the order.
Are you saying that the broker sent order on its own ?
If not, it seems to be your fault. When prices are hitting circuits everyday, its almost impossible to get in or out as you have a bunch of orders ahead of you and not much liquidity.
groww cannot be trusted. I reported around six major flaws in their system, including one in the brokerage calculation, with all supporting evidence before switching to zerodha a few years back. the issues were never resolved, nor did they make any effort to address them. I am not saying in your case it is their fault, my point being that too is a valid case.
5 paisa was like this few years back, before i moved to Zerodha. Lots of issues and brain dead CS.
One thing i remember - idiots would square off shorts when price approached lower circuit ( at -8%) and vv. Total waste of time broker.
I executed the trade but the stock was at lower circuit. Usually, after lower circuit the intraday is disabled by the brokers. I was wondering if I can contest why the trade was allowed at that time.
I don’t think there is a case, you cant depend on broker to protect you from everything.
But i am not an expert in this.
Logically, new buy positions with leverage at lower circuit is risky even for broker.
Maybe there is something, i dunno. But atleast take this as a lesson for future, We need to check a lot of things before entering an intraday trade, esp for stocks that are not in fno.