FYERS

[iTrade]

But is it a "competition" as such given that people aren't really "competing"?

No clue dude. I am just asking in the interest of traders.

 

[headstrong007]

Does SEBI promote/support such contests? Somewhere I read this:
"And, there is no recourse with Sebi for when things go wrong in such competitions. Reportedly, in December last year, stock exchanges communicated to brokers (at Sebi’s behest), that they should not sponsor such competitions, and organisers for such competitions should get written consent from the players that in case of a dispute, they would not be entitled to dispute redressal mechanism under Sebi’s investor protection schemes."

No this is not competition, this is only self-challenge to be profitable which is every trader's goal.
Such 60day-30day challenge doesn't come under SEBI rule as there is no comparison with other traders, hence no competition is offered.

 

[ankur07090]

Now I am going to open an account with FYERS

 

[Newbie Day-Trader]

Now I am going to open an account with FYERS

Sorry, unrelated but for a while now, I've wondered why it says "Banned" under your nickname, & you're still able to post.

 

[cloudTrader]

Sorry, unrelated but for a while now, I've wondered why it says "Banned" under your nickname, & you're still able to post.

It is intentionally done by Ankur. He has written the word himself in his profile settings.

 

[Newbie Day-Trader]

It is intentionally done by Ankur. He has written the word himself in his profile settings.

Haha, actually, I was wondering that as well but didn't bother to check whether one could change it because almost everyone else seems to have generic labels like New Member, Well-Known Member, etc. given by the forum itself. Anyway, thanks.

 

[thanku]

Thank you very much for the
FYERS 30 Day Challenge

 

[timepass]

Now just to wait for Bracket orders.

 

[bpr]

It's December 1st already and I'm making the big announcement on Traderji first.

Welcome to the FYERS 30 Day Challenge! From today onwards all our customers can get a 100% brokerage refund if you are profitable for a period of 30 trading days. This is not a limited period offer! We intend to make it permanent for the benefit of our growing number of users. Yes, I know some of you might have used a similar thing before but ours comes with no baggage of T&C and is half the no. of days so it enhances your chances significantly. Learn more about it here: https://www.fyers.in/fyers-30-day-challenge/.

I look forward to the Traderji community who I interact with to spread the word to other members. Word of mouth means everything to us! I would love it if you could refer your friends to us if you'd like them to try this out too.

my suggestion based on my experience with other such challenges at other brokers.

1)30 days is good but Why not do it monthly based on calendar months (January , February ..etc )...this way tracking is so easy for both parties ... ..it is roughly 21/22 days. The reason I say this because there is always confusion with end date ...end date calculation is always wrong ...keep changing ...and it is very confusing .. I have raised many tickets with those broker because of such challenge issues.

If it is calendar wise no confusion of start and end dates. everybody has same start and end dates makes it simple for everyone.

2) Auto enroll feature ..because everybody wants to enroll with the challenge as there is no negative not to enroll why won't you enroll .....by giving explicit enroll button it is headache to make sure u start the next one as soon as one finishes it is chore .....sometime I forget I miss 2/3 days before start the next challenge ...
Also I have seen calculation issues when u have a running swing trade and one challenge ends and another challenge starts ....and there is a gap of 2/3 days in between...it gets complicated very soon ...

3) Last but not least Auto Credit if you are winner

So that everything is automatic and trader can focus on his trading not on this. All trader has do is visit challenge history from time to time track his performance.

Please remember u r likely to get all such above issues and a flurry of tickets to solve these issues it is in your interest to implement in such a manner so that no additional support work is needed as this is not core trading support.

 

[timepass]

Yeah, that monthly is a very good suggestion. Even the payout is on 5th of every month, so maybe the end date would also do good.

Make it possible for a member to start on the first of every month, and auto roll it over. So if someone joins on, say 10th of the month, he can start the challenge on the 1st of the next month.