Samco Securities Limited — False order executed

Address:	Mumbai City, Maharashtra, 400013
Website:	www.samco.in

I have been trading in share markets since last 5 years. Since starting, I was using ICICI demat account. Last month, I came accross Samco Securities through the advertisement done by Shri Kapil Dev. Since the brokerage was very less, I decided to switch my trading account to Samco. Everything was going good and I was making descent money with my trades. Yesterday when I did my last trade, my position book showed 0 net quantity and day profit of approximately 7500. Today morning when my fresh orders were getting rejected, I called them and to my surprise, I was told that I was holding 2400 shares of nifty 7200 PE. I had 1200 units by 3:04 pm yesterday and I squared all the quantity at 3:05 pm. Now they say that instead of squaring off, I had bought 1200 shares. If this was the case, My net quantity in positions would have been 2400 and not zero. And today I am losing around 1 lakh due to some fault in their system which they are not ready to accept and unfortunately I cant prove it also. I have never faced such issue in five years of my trading experience and now I feel its better to use trusted and established brokerage firms even if they charge more. I feel so helpless right now. I had suggested more than 50 people in my network for opening account in SAMCO. But now I have to stop them.