got a refund from nse F&O but waiting for mcx…Ticket number #20221015534221
More tickets raised:
#20221020820023
#20221020370540
#20221020600045
#20221020720238
#20221020587391
#20221020411850
#20221020911830
I’ve created ticket 7 days back but still no resolution. My ticket id - 20221013144996
Having this checked, Hritik. You’ll have an update on the ticket.
Will have this checked, Jason. You’ll have an update on the tickets.
Sorry to hear this, Gautam. Having this checked.
Jason bhai should officially be declared as the brand ambassador of exchanges. 
Hey @Gautam_Gothia, we reversed the margin penalty on 17th October itself. You can check for the reversal of margin penalty entry on Console ledger.
Thank u for ur prompt response. Yep it got credited on 17th October.
Lol. Am little confused. What makes you say this. ? 
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You made the exchanges very rich with all these penalties. 
Hahaha. But I think it goes to investors education fund. I make revenue department rich. GST is charged on penalty. 
Again that’s adjusted against output gst. Hmmmm. So only increase amount in investors fund.
i didn’t get my refund for mcx segment …its already been 4 working days
Hritik, apologies for the delay. We’re processing this and will be done shortly. You’ll have an update on the ticket once this is done.
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First of all. Circular clearly mentioned at that time about it so why all brokers charging penalties to “clients” till date?
“You are not free to pass the penalty to cleint”
Because you have to ensure that no trade executed without full margin.
You are at fault and you are liable to pay penalty.
You should have to make such “system” to ensure this.
Your trading system is not updated to cope with it and using that faulty system, customer is being charged “huge” penalties.
But you failed , why should any trade happen if there is not full margin in client account?
And if it still happens then why “client” is liable to pay penalty?
Client didn’t told you forcibly to execute order without norm.
And Why any trader wants it and pay 0.5 or 1% penalty which is higher then the full profit of trade!!!
I also charged many times and I reversed all penalties
by complaining on “nice plus nse”.
The nse executive clearly told to broker that , “as per circular broker is liable to pay penalty and the penalty could not pass on to client”
I charged 1.5k to 5k penalty in option selling trade in which my profit is not more than 1-2k.
Many other traders also charged up to 10-20k penalty that I heard
And another thing , Whenever your “customer” was charged hefty penalty without any fault
You are not doing anything to stop it and you was okay and happy ,
not feeling guilty for them ,
not fighting with exchange/sebi on behalf of your customer.
Whenever I call customer care , they tell “it’s charged buy exchange and we can’t do anything in this
We deducted and you have to bear it , that’s all , no solution”
But you didn’t care about customer that how huge that loss is and also without any fault.
We have to ensure every time and check the margin continuously.
Every hour exchange will take screenshot and if you caught red handed you will be charged “brutally”.
But that all these rule was for broker not for customer or traders and that was clearly mentioned in circular of year before.
Now the situation has “reversed” and
all penalty is lied on you , you can’t bear it and you are thinking to change business model and all cry!!!
You being billionaire can’t bear then how a small retail customer of yours was bearing since a year???
Being a small trader , I personally shocked and beaten down by those hefty huge penalties which was deducted without any notice to me
Thankfully a nice plus portal complaint saved me.
Moreover whenever short fall happens, you guys didn’t promptly called the customer to close trade immediately.
We came to know in ledger that I was looted.
2 Likes
I have already answered these before. Until now all brokers thought that if the margin goes up after entering a trade, it is a non-upfront margin penalty, which I still think how it should be as it is the customer who is in complete control of the account and can enter/exit to ensure the margins aren’t ever short. We have sent emails to all customers to whom a penalty was charged before asking them to exit positions carefully to avoid penalty.
Explained in detail here.
Any businessman has to do what is right for the customer while also ensuring those decisions don’t take the business down. By the way, all billionaire talk is based on a certain valuation of a business and all of that is “Notional” and not “Real”.
4 Likes
Thanks for this clarification that, “as per current regulations it (penalty on this EOD margin shortfall) can’t be passed on to client”.
I have exactly same situation and I have raised ticket #20220809832147 on Aug 9th, 2022. I have received refund of penalty for peak margin. However, even after continuous follow up of 4 months, I have not yet received refund for the penalty for EOD margin shortfall. Behavior of your support team is increasingly becoming rude and non-responsive.
Out of shear frustration, I had written to you about this sordid saga today (5th Dec. 2022) at [email protected], however, your system turned it into another ticket #20221205364600. Looks like emails written to you at [email protected] are not reaching to you. Since your are active on this forum, I am approaching you for the same. I sincerely hope you will respond positively.