How to file an online complaint against your stockbroker

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The National Stock Exchange (NSE) allows investors to file a complaint against securities brokers or trader members in the event of fraud through its online investor service – Nice Plus. Investors can file their claims in the format prescribed by the exchange with supporting documents.

Generally, complaints of the following nature are taken up for resolution by the NSE:

Complaints against members of the exchange:

Capital Markets Futures and Options Segment:

  • Non-issuance of documents by the merchant member
  • Non-receipt of funds / securities
  • Non-receipt of margin / security deposit given to the Negotiator (TM)
  • Non-receipt of social benefits (dividend / interest / bonus etc.)
  • Auction value / closing value received or paid
  • Execution of transactions without consent
  • Excess Brokerage Charged by Business / Sub-Broker Member
  • Non-receipt of the credit balance according to the account statement
  • Non-receipt of funds / securities held in margin
  • Excess brokerage fees charged (other than on the option premium)
  • Complaints against listed companies may also be filed in certain cases of public offerings / renewal of offers, corporate actions and transfer of securities.

    Here are the steps to file a complaint online on Nice Plus:

    Step 1: Register with Nice plus – Investorhelpline.nseindia.com – via Permanent Account Number (PAN) and details such as name, contact number and permanent address.

    2nd step: Log in with the username and password sent to the email address.

    Step 3: Click on the Services tab and select ‘New Claim’ and ‘Claim Against TM’ one by one.

    Step 4: In part A of the complaint form, enter details such as category and unique customer code.

    Step 5: In parts B and C, mention the type of claim such as the name of the guarantee, the date of the contract note and the amount of the claim.

    Step 6: Submit and note the generated Unique Reference Number (URN) at the end to track compliance status.

    First publication: STI


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