[Resolved]  Indiainfoline - 5PAisa.com — 5Paisa.com - how irresponsible a broker can be in India

Hello, 5paisa has forcefully implemented TTADVANCE on all its users and has discontinued the TT5 software, totally ruining the overall business of most of their "TEHNICALLY EDUCATED" stock traders whether they do day trading or delivery based trading..... Now, we traders are forced to use the new TTADVANCE software since December 10th, 2007, which is totally impossible to do... and which is truly not an advanced software but a real worst software, a real slow one.

Since yesterday, I'm completely out of business and can not trader through the TTADVANCE.... I visited the local office of 5paisa and found more than 100 people there fighting with the customer care there and the customer care was just helpless to answer any of their problems.... Customer care just said.... "Sir please be sure everything will be alight by tomorrow.... please be sure...." .... and even they themselves did not know what the company will do by tomorrow....

I believe no one can trade through it... The data gets updated very slowly and the graphs rarely open up.... And when you go to apply moving averages on your graph, you find that the software has been coded in such a way that all moving average graphs will be shown in one common color... so that you can not distinguish between each moving average line....

I believe some headless programer has created this software for the company... lots of bugs and misinformative operations all across the application....

One more joke, if you use the software from behind some proxy, then you can not define the port through which the application should connect to the servers.... You only can define the IP address of the proxy.... And in the HELP, it says you can open any of the 3 ports including 10116, 25000 and 25002 on the proxy PC so that the application can work! Isn't this headless planning for creating an application? A massive hassle to somehow get the required port opened on the proxy PC!

I believe the company SHOULD HAVE beta tested the application in the phase-1 before forcefully launching it for all its clients... Without knowing how its functioning, how come they implemented it for all clients.... I'm sure they would have registered losses worth millions in a single day due to people unable to operate the software and their software and their servers not able to cater to all customers....

I ask.... aren't these Brokers being regulated by SEBI? Can these brokers force their user traders to switch over to another application without any prior written signed approval from each user that they have successfully switched over to the new application and now they can comfortably trade through the new application!? We have not been provided any training or help in order to set up our softwares on our systems and use the same for real successful trading..... How come and how can a non technical person or even a computer guru person can successfuly switch over to a totally inefficient TTADVANCE applicaiton in a matter of a few days email intimation and no personal customer support?

I ask..... Do not these brokers need a SEBI approval for implementing such a drastic change in their operations? In such a scenario, who is the care taker of the small traders on which this whole stock market makes money?

I put this incident in "highly irresponsible category" and I believe if this was executed in USA by a US company, then the company would have received hundreds of legal notices for lawsuits against the company from its users.... Here in India,,,, anyone can do anything even overnight and no one even questions! India is really great!

Sanjay.