Serious Issues With Samco

[newtrader101]

Dear Traderji members,
Kindly advise on the course of action to follow in this issue with this broker:

I discovered this error upon (luckily) going through the ledger and contract notes. With my other broker Sharekhan I never had to check the ledger for errors. And they'd readily clarify any doubt I raised. No serious issue so far like this with Zerodha either.

Error in C/F for a EURINR FUT long position bought on 290818:

The contract note for 290818 shows the C/F rate of my FUTCUR EURINR 26Sep2018 LONG position of
290818 as 82.62. This is correct as per my records.

However in the contract note for 310818 (when I sold that position) they showed the B/F as 83.0650,
a difference of 0.445. which comes to .445x1000 = 445 Rs.

The ledger calculation is also based on this. Instead of crediting 445, they have debited 370.34.

Total loss= 445 + 370.34= 815.34
I wrote to them yesterday asking to rectify the error. Till now, there has been no response at all.

Kindly advise.

 

[newtrader101]

Today a Samco representative called. After listening to him, I felt I should check the ledger again to see if I've received the amt due to me, for the final sale of this contract was on 060918 for 83.82. The figure in the contract note is based on MTM, he said. But couldn't check the ledger, the site is under maintenance since morning. Waiting.

 

[newtrader101]

Well here is the record of trades on their site which shows the profits received:

The ledger is still under maintenance, but as this record is on their site, I'm assured it is there on their ledger as well.
Apparently Samco responds first to Support tickets raised through their app.
Apologies to all concerned. Admin please close or delete this thread.

 

[Master-mind]

Dear Traderji members,
Kindly advise on the course of action to follow in this issue with this broker:

I discovered this error upon (luckily) going through the ledger and contract notes. With my other broker Sharekhan I never had to check the ledger for errors. And they'd readily clarify any doubt I raised. No serious issue so far like this with Zerodha either.

Error in C/F for a EURINR FUT long position bought on 290818:

The contract note for 290818 shows the C/F rate of my FUTCUR EURINR 26Sep2018 LONG position of
290818 as 82.62. This is correct as per my records.

View attachment 28505

However in the contract note for 310818 (when I sold that position) they showed the B/F as 83.0650,
a difference of 0.445. which comes to .445x1000 = 445 Rs.


View attachment 28507

The ledger calculation is also based on this. Instead of crediting 445, they have debited 370.34.
View attachment 28510

Total loss= 445 + 370.34= 815.34
I wrote to them yesterday asking to rectify the error. Till now, there has been no response at all.

Kindly advise.

SAMCO is worst broker , They never reply for password reset , fund credit, fund withdraw .. very irrisponsible broker team . every one stay away from this irresponsible broker ..

 

[newtrader101]

SAMCO is worst broker , They never reply for password reset , fund credit, fund withdraw .. very irrisponsible broker team . every one stay away from this irresponsible broker ..

I don't know about this, but they have an edge that no other broker has. Once you login to their mobile app, you stay logged in till end of the day, i.e.11:59 pm.
Haven't found this in tradetiger, kite, tradejini, fyers, or angel.

 

[newtrader101]

Issues with Samco while placing orders today. Couldnt trade Banknifty futures when it was on a trend and in the evening, Current futures of Goldpetal, Goldguinea, and Silver micro are not available, even though expiry is only on 31082020, so more than 5 days to go. So no commodity contracts in these, as they offer only current month. Support is not answering.