This is Vinutha A P from Delhi. I would like to share my bitter experience with Anand Rathi Securities. My client id GBN50P034 with Anand Rathi
On 04/03/2009 I put a AMO in JP associates. It was a sell order for 10000 shares in NSE segment under MIS category ( Trading) at the rate Rs. 68.50. Next morning when the market opened, this particular scrip opened at Rs.67 and within seconds it reached a value of Rs.69 and again reached a level of Rs.66.50 and was trading even below that.
Later on the scrip value still came down to even Rs.62.70. My question is that when the value quoted by me was Rs.68.50 and it had reached Rs.69 crossing the value quoted by me and again it came below crossing the level of Rs.68.50 why was it that my order was not executed? I contacted customercare service of Anand rathi who gave me 2 reasons for this order not getting executed. fIrst is that there were no buyer at that moment since I was trying a sell order.
If there were no buyers at Rs.68.50 how was that the scrip reached Rs.69 after that? Then they gave me one more reason saying that MAY BE my order had not reached the exchange in time from Anand Rathi. Now let me know whether it is my fault if my order was not sent in time by them? Because of this I lost a good chance of earning a handsome profit. This is not the only problem with them. They reduce the margin as they wish. Funds transferred by me from the bank account doesnt get updated unless you contact them for getting it updated.
The very purpose of trading gets defeated by such mistakes or delay..We get such chances once in a while to earn profit in intraday trading. When we are paying so much commission I it not their duty to provide a reliable service? And the customercare executives dont have polite attitude. I will never recommend anyone to open an account with them else the one who openes the account will land up in the nearby Anand Rathi branch asking for closure of the account.