Rohan (name changed) was not a beginner. He traded actively, knew his strikes from his stops, and understood exactly how an order was supposed to work.
So when things started feeling off with his registered broker, he did something most people never think to do: he checked the records.
The setup was routine. His broker’s dealer would call with a view, momentum looks good today; let’s take a position, and Rohan would say the obvious thing: “Execute at market price.”
Fast, simple, no ambiguity. You buy at the going rate, right now.
Then he started asking a basic question after each trade: at what price did it actually fill?
The answers wandered. “We sold at 70.” The numbers never quite lined up with what the market was doing when he gave the instruction.
So he pulled the order logs. And there it was: he had said market order on a recorded line, but the orders sitting in the system were limit orders. The instruction he gave and the order the broker placed were two different things.
When the broker stalled on handing over the call recordings, Rohan filed a complaint to force them out. He got them. On the recording, you can hear him clearly say buy at market price. In the log, a limit order.
The mismatch is right there, in their own records.
And then the broker did something: annoyed at the complaint, they closed his account. “It’s our right,” they told him.
We have taken up his case. And the reason it holds is that he kept the one thing most people throw away, the evidence.
Your Broker Must Execute What You Instructed
This is the core of it, and it is simple.
When you give a clear instruction market order, the broker has to execute that. Quietly placing a limit order instead, or reporting a fill price that does not match what you asked for, is a failure to execute as instructed.
That is not your trading mistake. It is the broker’s conduct, and it is on them.
The difference is not academic. A market order fills at the going price immediately; a limit order may fill somewhere else, or differently, or in a way that quietly works against you.
When the order type you receive is not the order type you gave, every outcome that follows is built on something you never authorised.
The Legal Reality: You Are Entitled to The Proof
Here is what Rohan understood and most people do not: the evidence exists, and you can get it.
- Dealer calls are recorded. If the broker drags its feet on sharing them, a formal complaint can compel them, which is exactly how Rohan got his.
- Order logs and contract notes are yours. They show the order type, the price, and the timing of every trade.
Put the recording next to the order log, and the case writes itself: here is what I said, here is what they did, and they do not match.
That single pairing is worth more than any amount of arguing on the phone.
The True Culprit: The Brokerage Was the Real Engine
Underneath the execution problem sat the usual motive.
Rohan was trading enormous volume, on the order of 1,500 lots in a single day. Think about what that means: for roughly every ₹40,000 he earned taking all the risk, the broker earned about ₹40,000 in brokerage taking none.
When a broker’s income from your account rivals your own profit, the account is being run for fees, not for you.
The relentless activity is not a strategy. It is the business model.
Closing Your Account Doesn’t Erase the Claim
Deactivating Rohan’s account after he complained did not make the conduct disappear, and the retaliation itself is worth documenting.
A broker shutting you out the moment you push back is not a sign you were wrong.
It is a sign you touched something they would rather you had not.
How to Get Your Funds Back?
You have the recording. You have the order log. You have the mismatch.
Here is exactly where to report a stock broker:
- Complain to the Broker’s Compliance Officer: Submit a written complaint naming the execution mismatch, the recordings, the order logs, the brokerage charged, and the account closure. Be specific about each one. This is the document that opens the case.
- Register a Complaint with SCORES: If there is no satisfactory resolution within 15 working days. Escalate the matter through the official SEBI SCORES platform. This is also how recordings often get prised loose if the broker is still stalling.
- Register a Complaint with SMART ODR: If SCORES does not resolve it, move to the SMART ODR platform for mediation and conciliation.
- Arbitration in Stock Exchange: If mediation fails, an independent arbitration panel will hear the case and issue a binding decision.
A registered broker is accountable for executing your instructions faithfully. The claim covers the losses tied to mis-executed trades and the excessive brokerage, and the recordings and logs are what carry it.
The line worth keeping: what you said is on the recording, what they did is in the log, and when those two don’t match, the gap is the case.
Ready to Act?
Register with us, and we will help you file the complaint the right way, the right platform, the right detail, the right pressure. Our team will review your documents, identify the violations, and guide you through every step of the process.
The sooner you start, the stronger your case.
Frequently Asked Questions
1. Can a broker place a limit order when I clearly said market?
No. The broker must execute the instruction you gave. A different order type, or a fill price that doesn’t match your instruction, is a failure on the broker’s side, and it is claimable.
2. How do I get my broker’s call recordings?
Brokers record dealer calls. If they refuse to share them, a formal complaint can compel them. Those recordings, placed against your order logs, are the strongest proof of what you actually instructed.
3. Can a broker close my account because I complained?
Closing your account does not erase your claim. Document the timing; a broker shutting you out right after you complained is itself worth putting on record.
