As a client have the right to know how much @Finvasia loss during Crude episode.
Angel Broking ban CrudeOil trading due to their losses during Crude episode, same goes for Finvasia, I guess.
Is there any clause in the sign document that we provide during account opening give @Finvasia the right to ban trading on any symbol according to your own sweet will? Is this legal?
For your reference: FYERS enable BO/CO for Crude Oil with 3x leverage
So give us a date when @Finvasia allow us to trade in crude.
Angel Broking ban CrudeOil trading due to their losses during Crude episode, same goes for Finvasia, I guess.
Is there any clause in the sign document that we provide during account opening give @Finvasia the right to ban trading on any symbol according to your own sweet will? Is this legal?
For your reference: FYERS enable BO/CO for Crude Oil with 3x leverage
So give us a date when @Finvasia allow us to trade in crude.
We have been experiencing enhanced (in some sense, unprecedented) volatility across equity and commodities over several weeks. Crude was an exceptional event and it impacted a lot of brokers in India including Finvasia. We have a few accounts that went into negative but it was insignificant to us with respect to our net worth and/or balance sheet.
Finvasia is among very few brokers in India who provides access to all the exchanges from a same single entity i.e. Finvasia Securities Pvt Ltd. So, whether you are trading stocks, FnO or Commodities, you have a single segregated account where one ledger covers the margin requirements across all exchanges.
Like every other broker in India, we also had traders who held positions in Crude Oil but that didn't happen to be the only position in their book, they also had positions in Equity, or had cash margin available in their account, since its a "single account" for all exchanges. In such accounts, even though the crude position went significantly in debit, the over all account was not in debit. At the same time, there were very few accounts that were long crude oil and had no other position or balance in their account and those accounts obviously are in negative. For Finvasia, the number of such accounts is extremely small and did not impact our balance sheets in any meaningful way.
Thanks
Finvasia is among very few brokers in India who provides access to all the exchanges from a same single entity i.e. Finvasia Securities Pvt Ltd. So, whether you are trading stocks, FnO or Commodities, you have a single segregated account where one ledger covers the margin requirements across all exchanges.
Like every other broker in India, we also had traders who held positions in Crude Oil but that didn't happen to be the only position in their book, they also had positions in Equity, or had cash margin available in their account, since its a "single account" for all exchanges. In such accounts, even though the crude position went significantly in debit, the over all account was not in debit. At the same time, there were very few accounts that were long crude oil and had no other position or balance in their account and those accounts obviously are in negative. For Finvasia, the number of such accounts is extremely small and did not impact our balance sheets in any meaningful way.
Thanks
