Stock broker error in my favour

[Gmtsweb]

Hi all
Not sure where I stand here so can you please advise

I purchased some shares on friday at a cost of 0.29 per share now I wanted 3k worth to which my broker bought
I received my contract note and he purchased 1 million at a cost of .0029 which equates to nearly 400k in value to a cost of my 3k

Morally I feel bad but the deed is prob done, and the plus side I'm 400k richer

Do I advice them there error ?

 

[eighteen]

erm, I'm pretty sure you need to settle the account with him..

 

[Gmtsweb]

Hi
I have settled my account of 3k. To which the purchases should have been 10000 shares aprox
He put the . Point in wrong place. 0.0029 instead of 0.29
Im sure after the initial trade ( end of day ) no changes can be made.
There is no way I can afford the 1 million shares but this is his error.
If I advise on Monday really would it make any difference.

Or do I keep quiet and see if they spot there error

 

[barjon]

Gmtsweb

You're only 400k richer on paper!! You'd better get it unscrambled because there's no way your broker is not going to notice a 397K hole in his accounts if he's made an error in the contract note.

 

[YouAreNotFree]

Just do the right thing.

Simples.

 

[wackypete2]

If you ignore it or feel it's justly yours because the broker made an error you are going to get screwed up the @zz bigtime.

Peter

 

[wackypete2]

Do you mind telling us what the stock was?
Just curious. I'm always highly suspicious of penny stocks. Way too easy for market makers to manipulate them.

Peter