[Resolved]  HDFC Bank Securities — Transaction loss because of stupid online software

Address:

South 24 Parganas, West Bengal

On 14th March 2011 I sold 100no ICICI bank @1014 around 10.39 am through NSE. I was a margin call in which I didn’t give mention any stop loss. Around 11 am I gave a fresh call to purchase 100no ICICI bank @1018 through NSE around 11.09 am. It was again a margin call.
I wanted to minimised my risk exposure hence 2nd call was given and it was not a square off call against the first order. But HDFCSEC’s most intelligent software did that for me and in the process I lost huge amount.
When I called their customer care executive she couldn’t even explain me the reason. After keeping me on hold couple of time she only told me that their software was designed like that. They could accept it as a fresh margin call in case if I would have placed that order in different exchange.
In HDFCSEC, we need to transfer money from our account in order to go for any margin call. So every purchase I made, sufficient margin money was there in my account. Even after that HDFCSEC took decision on my behalf without even asking any consent from my side there I want to square off or not. Their software don’t allow customers to place fresh margin order in the same exchange!!! That’s the most weird thing I have ever heard.
My trading account no is 507706.
Exchange reference no of the 1st order is [protected]
Exchange reference no of the 2nd order is [protected]
I am sure like me many customers are annoyed with bad trading software of HDFC Securities backed by poor customer support. Our money is going down the drain and there is no effort to correct it.

regards