As per my knowledge and sebi regulations more than 100% margin utilisation penalty is not on client but on broker but still dha
n has charged me more than 7000 for the same.
What is this?
n has charged me more than 7000 for the same.
openly cheating by dhan even SEBI has clear cut direction for penalty on margin
Hi @Saurabh88,
Brokers are in discussion with Exchange/SEBI for the margin penalty. Currently, margin penalty will be levied.
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As per the NSE Circular (dated July 31, 2020) members are not permitted to pass on the penalty on account of ‘short/non-collection of upfront margins’ and exchange has reiterated the same thing through their circular (dated September 02, 2022) after two years once again.
I am sorry to say that not refunding or continue charging margin penalty even after Exchange reiterated, may damage the impression on Dhan. As a good practice, I believe all the brokers should first follow the instructions by Exchange/SEBI. Having discussions with them is okay but first brokers should implement Exchange order.
@PravinJ Please correct me if I am missing any facts here. I am not charged any penalty but replying to this chain just to make sure that no customer should feel bad about Dhan.
@Saurabh88 Meanwhile, you can write an email to central help desk (Email ID in circular). If there is no issue from your end, they might help you in getting the refund.
Thanks,
Ravi
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Complete BS by dhan
They are constantly denying it while sebi has clear cut guidelines.
This has made me to withdraw all my fund.even though i like dhan very much but trust issues here.
May be later.and i will not recommend dhan to anyone.
We operate super transparently and keep our position very clear on this. We haven’t disputed any of this, Brokers and broker associations are discussing this with exchanges, and once concluded we will take the necessary next steps.
The only margin penalties that have been held are ones where brokers have given money from their own pocket for no fault of theirs. Rest all scenarios we do not charge, and if done - we have refunded in compliance with all circulars.
On product side, we already have rolled out alerts for breaking hedge benefits - we do not want our traders to get penalties and lose money for that reason, neither do we want to lose our money for no reason.
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Let me be very very honest.i am super impressed by dhan but the back office is what i dont like a bit.will give you another try.
Thank you dhan for giving me one margin penalty back of rs 5400 approx…
I like this type of transparency
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