Finvasia

[soft_trader]

Transferred funds for the first time, made 3 calls, and now they are saying that funds are updated, but still margin showing as 0 in scalpert. orders are getting rejected. kya lafra hai?

 

[soft_trader]

Transferred funds for the first time, made 3 calls, and now they are saying that funds are updated, but still margin showing as 0 in scalpert. orders are getting rejected. kya lafra hai?

problem solved after 1.5hrs. can you make this process automatic like zerodha or upstox?

 

[OneThatGotAway]

Today i sold option worth xx lakhs i.e squared off position
i bought futures worth xx lakhs

in night just few minutue ago i got email

Greetings from Finvasia!
This is to inform that your margin is short for Your Trading Code :FAxxx8 Rs.xxxxxxxx1 in FO/CDS/NCDEX/MCX for date: 27-May-2019 For any further clarifications you can reach us at below details

So that only means you will Charge me Penalty for margin short for xx lakhs while you hold my option money
Great

i am chat with you in morning . your RMS is shit finvisa
i have emailed them on
Email: [email protected]
no response yet nor help ticket is replied in prism lol

 

[soft_trader]

problem solved after 1.5hrs. can you make this process automatic like zerodha or upstox?

No reply from finvasia. In the meantime faced several problems with scalpert. The mobile app is joke to be honest. Position and order book just vanishes as per its whims. Some order goes through some do not, but still "order placed successfully" is displayed. Unable to modify position type (MIS to NRML) from scalpert web or app, but after calling their support desk they promptly modified to NRML.

Kite 3.0 is so smooth. I am wondering whether compromising on platform just for free brokerage is worth or not.

Every check list is ticking for finvasia except for the mobile platform. I may opt for NOW/NEST/BEST but that is not solving the mobile platform problem, which I believe is one of the prime requirements among traders. Sadly both BEST and NOW are not built for android 9 (pie).

 

[Finvasia]

@Finvasia please allow us to login to scalpert from both mobile and web simultaneously.

Hi Soft_trader!

Currently, you can only log in to one application between web and mobile. Your suggestion is well noted and we shall try to work on it.

Thanks

 

[Finvasia]

problem solved after 1.5hrs. can you make this process automatic like zerodha or upstox?

We are working on accounts integrations. All funds transferred using NEST/Scalpert from Atom Tech provides limits instantly. However, NEFT/RTGS to our bank accounts take additional time. Apologies, if this caused any inconvenience.

 

[Finvasia]

Today i sold option worth xx lakhs i.e squared off position
i bought futures worth xx lakhs

in night just few minutue ago i got email

Greetings from Finvasia!
This is to inform that your margin is short for Your Trading Code :FAxxx8 Rs.xxxxxxxx1 in FO/CDS/NCDEX/MCX for date: 27-May-2019 For any further clarifications you can reach us at below details

So that only means you will Charge me Penalty for margin short for xx lakhs while you hold my option money
Great

i am chat with you in morning . your RMS is shit finvisa
i have emailed them on
Email: [email protected]
no response yet nor help ticket is replied in prism lol

Hi Onethatgotaway,

As per exchange policy, the credit of Option sell has to be given on the next working day whereas to buy Futures, client needs upfront margin. In your case, when you sold the options, there was no credit to buy the futures since the pay out of Option sell is available on the next day from the exchange. Hence, margin short for future buy position.

Thanks

 

[traderhardrock]

Hi Onethatgotaway,

As per exchange policy, the credit of Option sell has to be given on the next working day whereas to buy Futures, client needs upfront margin. In your case, when you sold the options, there was no credit to buy the futures since the pay out of Option sell is available on the next day from the exchange. Hence, margin short for future buy position.

Thanks

my 2 queries
1. If the credit of option sell has to be given next day, then why and how he was allowed to buy Futures, when there was no credit in his account.
2. When we square off a position in options trade, the credit (of sale value) is provided (by my broker) immediately, so as to trade further using that amount. How so.

Thanks

 

[monkeybusiness]

Hi Onethatgotaway,

As per exchange policy, the credit of Option sell has to be given on the next working day whereas to buy Futures, client needs upfront margin. In your case, when you sold the options, there was no credit to buy the futures since the pay out of Option sell is available on the next day from the exchange. Hence, margin short for future buy position.

Thanks

What if trader is having positions (say he is in from last few days a swing trade) in nifty futures and wants to rollover before expiry, will he need upfront margin or margin from squared off nifty futures will suffice, also instead of nifty futures if he is creating position in Reliance futures, what will be scenario.

 

[Finvasia]

my 2 queries
1. If the credit of option sell has to be given next day, then why and how he was allowed to buy Futures, when there was no credit in his account.
2. When we square off a position in options trade, the credit (of sale value) is provided (by my broker) immediately, so as to trade further using that amount. How so.

Thanks

Hi traderhardrock,

When client sells the options, they get the credit immediately. This credit can be used for further trading with exception to buy fresh over night position in future segment. For e.g . after selling options, you can buys/sell options again or buy/sell cash segment. In case you buy Futures and carry forward, there shall be a margin short.

Thanks