[Resolved] ICICI Direct.com — Manipulation of share prices during trading specially on margin plus orders

[Resolved] ICICI Direct.com — Manipulation of share prices during trading specially on margin plus orders

M M.R.Sharat Kumar from Mumbai, Maharashtra

I am holding the demat account with ICICI for eight years and trading in shares since then primarily in the equities. Since december 2008 when I am trading frequently in Margin Plus option provided by icicidirect.com, I noticed unusual change in the share prices.When the order is placed the share price suddenly starts falling to the stop loss triger price and the order is executed. But very next moment the stock prices immediately rises. if its happens once or twice it can be ignored, however I have consistantly seen this happening with me in hte last six months. even when the stock price is altered the price falls to the corrected price and then jumps up. I feel that this is intentially manipulated. Was this information helpful? No (0) Yes (0)
Aug 14, 2020 Complaint marked as Resolved
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Nazia Sayeed

from Pune, Maharashtra

Dear Mr. Kumar,

Kindly write to us at [protected]@icicidirect.com, with the subject line as ‘Customer Service – Demat’. Request you to provide the relevant details of your account, along with your full name and contact details.

We will be glad to assist you.

Regards,

Nazia Sayeed
Office of the Nodal Officer
ICICI Bank

Satish Dhiman

Thats true. In MarginPlus trading your order always gets executed +/- 0.5 to 1 %, instead of getting executed at the market price. And ICICIdirect gives first priority to hitting the stoploss. Just put a SLTP of around 1% and your order will get executed with a loss.