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.
A Broker Has to 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.
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 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 Do You Get Your Funds Back?
If your broker has executed unauthorized trades or ignored your direct instructions, you do not have to accept the financial loss.
You can take systematic legal steps to escalate the issue and recover your misplaced funds:
1. Complaint Directly to the Firm
File a formal, written grievance with your broker’s internal compliance officer, clearly highlighting the unauthorized trade details.
Demand an immediate reversal or compensation by providing concrete proof, like call recordings or system order logs. You can also file an NSE complaint against a stockbroker if it is registered with the National Stock Exchange.
For this register on the NICE portal of NSE and fill details along with the proof.
2. File a Complaint in SCORES
If the broker rejects your claim or fails to resolve it within 30 days, raise a complaint against stock broker on SEBI’s official SCORES portal.
This forces the brokerage firm to submit an official response that is directly monitored and evaluated by the market regulator.
3. Register a Complaint in Smart ODR
For a swift and independent resolution, register your dispute on the Smart ODR platform to initiate online conciliation.
Neutral arbitrators will review your submitted evidence and trade logs to pass a legally binding verdict on your recovery claim.
4. Stock Market Arbitration
If online dispute resolution fails, you can formally apply for arbitration through the respective stock exchange (NSE/BSE).
A dedicated arbitral tribunal will thoroughly evaluate your documentary evidence to pass a final decree for your fund recovery.
Need Help?
Collecting trade records, reviewing evidence, and navigating regulatory portals can be overwhelming.
Register with us today, and our team will help you build a strong case, prepare the necessary documentation, and guide you through the complaint process from start to finish.
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.
