5Paisa.com — activation of margin trading and quarterly settlement | |||||
I had opened an account with 5 paisa.com last year which was a pure Demat account . I have a total of 75K deposited in my account and last month I bought one share for 14K . I was not aware that I have crossed my account balance, and this was also not intimated to me by the system . later on the customer service tells me that the if the share is from a particular category it allows the purchase. Now since I am not aware I have overshot my balance, when I receive a SMS of debit adjustment I totally clueless and the next day they deduct the shares from my account when the market is at the rock bottom . Now today I get a message regarding Quarterly adjustment and it is telling me POA ( power of attorney ) is not active . Now they would initiate Quarterly Settlement of the stocks and same will transfer to DP account .Telling me to adjust the debit immediately . Frankly speaking being a layman in this share terminology, I feel the company is fleecing novice customers like myself . I also have a Demat account with ICICI bank for the last 10 yr however never faced such issues . Please suggest what can be done Was this information helpful? | |||||
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