Incorrect Capital requirement shown
Complain ID : JGJN046577 40
Stock Market Complaint
Complaint Date : July 17, 2020
- State : Maharashtra
- City : Mumbai
- Address: 503 B Wing Vikas Galaxy Badlapur
Capital and margin requirement shown by 5Paisa on own platform as well as on Sensibull platform was incorrect than what was actually required. i wanted to enter in a spread derivatives strategy for which both platform showed that the margin/capital requirement is around 4 lakhs, i entered the trade the first leg gone through and second leg did not go through when i called 5Paisa they said that the actual requirement for writing option is 10 lakhs and later our system will see that the position is a hedge position, it will refund the remaining 6 odd lakhs margin.
Why was this not mentioned while entering into trade, if this was mentioned I wouldn’t have entered as I did not have that much initial margin, I have lost more than 1,50,000 because of this misinformation. I want either 5Paisa or sensibull to refund the amount as both gave wrong information before entering into trade.
Why was this not mentioned while entering into trade, if this was mentioned I wouldn’t have entered as I did not have that much initial margin, I have lost more than 1,50,000 because of this misinformation. I want either 5Paisa or sensibull to refund the amount as both gave wrong information before entering into trade.
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