Good thing is, I can submit/modify/delete my orders myself alone. No verification is needed by the broker. My broker even can not see my orders.

Broker's power is 'setting limit'. A 'Human' does it. I do not like any 'human' interfering in such cases. Their level of responsibility is much lower than a machine.

Buy limit: this is the amount of money that I can spend.

What will happen if my broker does not give me proper buy limit? For example, I have 3 lakh taka cash in my account and 1 lakh taka sell-power, my broker set 3 lakh taka limit, instead of 4 lakh taka. This happened in my life. I sent several emails to them, but they did not correct. Then I phoned ITS-manger, but no result. Then I phoned director of the house, he corrected it within few seconds. By this time, price changed.

Sell limit: this is the list of matured stocks with amount, set and adjusted by the broker before trade starts.

My experience is too bad here too. Today (07-Feb-2010) at 11:25 am, I found my sell items are not adjusted. I have many matured items but these are not shown in the list. I could not submit sell orders. I sent email, no result. At last they corrected after having a mobile-phone conversation. It was 12:45 pm when I found the correct sell limit. How terrible! The ITS-manger was not in the office. He entered office at 12:30 pm. Who will set my limit?

This is our level of responsibility. Who will take the loss that I incurred for their irresponsible acts?

I love my digital country! E-mails have no value here!


No comments: