FYERS

[Newbie Day-Trader]

@Tejas Khoday
Hi, is the 30 Day Challenge & brokerage-refund applicable to NRI's as well?

I'm also confused about repatriability of profits. If an NRI trades Futures with the local Indian funds, could the profits be sent to the US? I'm confused because on one hand, it is said that India-based income can't be repatriated but then there's the fact that up to 1 million dollars can be repatriated annually through an NRO. So, what is it?

 

[soft_trader]

@soft_trader , thanks for writing.

1. We have improvised the search functionality in the recent update. Please have a look. This was done after others told us that it was slightly time-consuming to add options scrips to the watchlist.

2. White theme for charts?

For charts and for mobile app interface.

 

[Tejas Khoday]

typically yes, i want to know what is the margin requirement if i write BN 24200 CE for positional and intraday basis, Z is asking nearly 75000 for positional and 30000 for intraday(not checked on expiry days) and same for RK (on expiry day margin requirement for intraday is nearly 15000 rs.)

@raj_singh , I can't comment so much about other brokers all the time but here's the thing: Any broker who gives too much leverage without having the technological prowess to take care of risk management is rolling the dice. For instance, we are now able to give high margins in Futures and intraday equity because of cover orders (CO). If we started doing that without the execution algos, then things can get out of control. I am not saying the above-mentioned broker is not technologically capable. I don't know that and I am not the right authority to say that or pass a judgement but I am just making you aware of the potential repercussions of overemphasizing on leverage. My statement is just to help you understand that leverage should not be looked as the key factor to decide a broker. There are other things to analyze. I speak from experience as I am dealing with these things on a daily basis.

 

[Tejas Khoday]

@Tejas Khoday
Hi, is the 30 Day Challenge & brokerage-refund applicable to NRI's as well?

I'm also confused about repatriability of profits. If an NRI trades Futures with the local Indian funds, could the profits be sent to the US? I'm confused because on one hand, it is said that India-based income can't be repatriated but then there's the fact that up to 1 million dollars can be repatriated annually through an NRO. So, what is it?

Nope. NRI trading, clearing and settlements have become very cumbersome due to non-fund based settlements which is highly inefficient. The process of onboarding an NRI client is not easy either. The documentation process is more complex and it a major downer. Hence, 30 Day challenge will not be applicable for NRIs.

I will find out exactly and let you know soon about repatriability. Please give me your client ID.

 

[raj_singh]

@raj_singh , I can't comment so much about other brokers all the time but here's the thing: Any broker who gives too much leverage without having the technological prowess to take care of risk management is rolling the dice. For instance, we are now able to give high margins in Futures and intraday equity because of cover orders (CO). If we started doing that without the execution algos, then things can get out of control. I am not saying the above-mentioned broker is not technologically capable. I don't know that and I am not the right authority to say that or pass a judgement but I am just making you aware of the potential repercussions of overemphasizing on leverage. My statement is just to help you understand that leverage should not be looked as the key factor to decide a broker. There are other things to analyze. I speak from experience as I am dealing with these things on a daily basis.

@Tejas Khoday, please check PM

 

[TraderGYO]

Does someone know why 10 minutes chart on FyersWeb and FyersOne does not match?

 

[afin]

Correction: The maximum charges applicable for Cover Orders is 20 rupees regardless of how many pieces the order is executed in. (Apologies for the incorrect explanation last time. Multiple charges are applicable for bracket orders only. I was writing the answer in a hurry and mistook the question for bracket orders instead of cover orders).

Thanks a lot for the clarification, Tejas! Btw, are the cover orders applicable for bank nifty and nifty options also?

 

[Newbie Day-Trader]

Nope. NRI trading, clearing and settlements have become very cumbersome due to non-fund based settlements which is highly inefficient. The process of onboarding an NRI client is not easy either. The documentation process is more complex and it a major downer. Hence, 30 Day challenge will not be applicable for NRIs.

I will find out exactly and let you know soon about repatriability. Please give me your client ID.

I can understand.

Alright. I've private-messaged you my client ID.

 

[Tejas Khoday]

Thanks a lot for the clarification, Tejas! Btw, are the cover orders applicable for bank nifty and nifty options also?

@afin , Currently, we have disabled Cover Orders for Options. This is primarily because we want to study the impact of liquidity and bid/ask spreads during adverse price movements. Since the target and stop loss are market orders, the execution price can pose threats to risk management. We are inclined to introduce it but haven't yet done so. However, please feel free to suggest what you have in mind.

 

[afin]

@afin , Currently, we have disabled Cover Orders for Options. This is primarily because we want to study the impact of liquidity and bid/ask spreads during adverse price movements. Since the target and stop loss are market orders, the execution price can pose threats to risk management. We are inclined to introduce it but haven't yet done so. However, please feel free to suggest what you have in mind.

Thanks for clarifying. What I was thinking is that Fyers could probably introduce Nifty options with intraday leverage, given that it has a lot of liquidity. I am personally of the opinion that in combination with your price ladder tool, the nifty option with some bit of leverage would be a seriously unbeatable combination. Again this is strictly a personal opinion! There could be other day traders who might disagree outright with me