[Resolved]  SMC Global Securities — SMC eats up my money in Brokerage

Address:

Howrah, West Bengal

Hi,

I,a beginner in investment (Mobile#: [protected]), have been cheated by SMC Kolkata and its agent Nandan Kumar Sharma(Mobile#: [protected])in the following ways in Commodity Futures trading.

1. The SMC agaent Nandan Kumar Sharma(Mobile#: [protected]) convinced me in the first week of July'10 to trade through him rather than myself as the charges would be higher in the later but once I received documents just a few days ago I got to know that they have charged huge commissions
e.g., the total brokerage charged was Rs. 8400 in total out of Rs. 15000(invested money) i.e, more than 56% of the money is eaten up by SMC brokerage. No positions were hold in Future! Just random intra-day trading in Future Market swallowed up my investment!! If there was a way, I can share the docs here too!

2. Within only 4 days, almost all the money(more than Rs. 12000 out of Rs. 15000) in my account(SMC User ID: CVZ0168) was lost, which I came to know quite later as they delayed those informations purposefully.

3. The SMC agent Nandan Kumar Sharma told me he has sold Gold Mini in Futures and waiting for getting a position to buy back for the last 2 months but I couldn't find any document narrating the same.

4. They delayed the sharing of online login credentials by showing foul excuses till the starting of August'10.

5. They delayed the sharing of documents of transactions which were all kinds of Intra-day trading without holding anything in Futures!

6. I got only 2 phone call related to trading from some SMC guys and the agent Nanadan Kumar Sharma never called me or replied back me after 7th July'10 once he received
the check of Rs 15040 from me at my office (Saltlake,Sector-V).

7. How an experienced person(Nandan Kumar Sharma) in India sells GOLD and waits for its price to sink! - as we all know that GOLD has high demand in India and its price would surely rise.
So, it was just a false excuse, which I understood quite later being novice in this field and even he didn't poses any document on the same.

8. I emailed all these details to SMC Kolkata (Email Id: [protected]@smcindiaonline.com) and called them over phone on 24th Sep'10 but they kept quiet.

We need to take necessary actions against those organized cheaters otherwise the faith of the investors like me wouldn't be in Share/Commodity investment any more.

Please help me with advise how to rescue my hard-earned money!!