FYERS
- Thread starter Tejas Khoday
- Start date
- Tags broker in india brokerage demat account discount brokerage fyers trading account trading platform
Hi
Could anyone please clarify and explain on how to make sure our money transferred to trading account and kept in trading account are safe? There are lot of brokerage houses in the market. How to makesure our money is safe. Does exchange provide any kind of guarantee for our money kept in trading account? What happens to our money kept in trading account if brokers go bankrupt?
Could anyone please clarify and explain on how to make sure our money transferred to trading account and kept in trading account are safe? There are lot of brokerage houses in the market. How to makesure our money is safe. Does exchange provide any kind of guarantee for our money kept in trading account? What happens to our money kept in trading account if brokers go bankrupt?
@thanku, Please ensure that you have not exceeded 30 scrips in the watchlist. Once your watchlist reaches 30 scrips, we send you a notification informing you that speed can reduce if you exceed the limit. Other than that, also double check your internet speed. We checked today and the utilization was very low and didn't effect anything despite simultaneously running youtube videos.
@rrrajguru, Today Fyers One was given the following updates:
1. Increased the eod data availability to 10 years.
2. Automatic update of corporate actions.
3. Initial download of data has been optimized.
2. Selected candle's values are displayed on top of the chart.
3. Drawing tool preferences are saved by default.
4. Resizing of order book, trade book, net positions, limits will get saved as per preference.
5. Menu related changes.
6. Increased the frequency to check the status of broadcast connectivity.
7. Minor bug fixes.
These days, we try not to update the system too often so we clubbed all of this together.
1. Increased the eod data availability to 10 years.
2. Automatic update of corporate actions.
3. Initial download of data has been optimized.
2. Selected candle's values are displayed on top of the chart.
3. Drawing tool preferences are saved by default.
4. Resizing of order book, trade book, net positions, limits will get saved as per preference.
5. Menu related changes.
6. Increased the frequency to check the status of broadcast connectivity.
7. Minor bug fixes.
These days, we try not to update the system too often so we clubbed all of this together.
Hello @john302928, Good question. First of all, I'd like to let you know that even bank deposits are not guaranteed by the government beyond a sum of ₹1,00,000/- . So the perception that your money is safe in your savings bank/fixed deposit is by the virtue of RBI regulations and the fact that the banking industry has not gone bankrupt. Also, to safeguard the faith in the system, whenever a bank is stressed or in deep trouble, larger banks acquire them thereby providing immunity to deposit holders. Otherwise, deposit holders would be exposed to the risk of banks going broke too.
Stockbrokers are tightly regulated by SEBI, the exchanges & Depositories (Regulated by SEBI & monitored/overseen by the exchanges & the concerned Depository). You may say that they can go absconding or bankrupt but that can happen with a bank too. A case in point is Amanat Co-operative Bank. At the end of the day, the integrity of the brokerage matters. At FYERS, client deposits are safely stored without using it for any speculative/untoward activities which can jeopardize the value of your deposits. We follow compliance to the highest standards and have been routinely audited by NSE compliance team who are very strict about these things. Also, an additional element of safety if you choose us, is that we don't do any kind of prop-trading activities. It means that there is a zero chance of us being exposed to financial indiscipline in that regard. Why don't we do prop-trading? To avoid conflict of interest with clients. Many professional and serious traders do not like to trade with brokers who are also taking positions on their prop book. This is because these brokers have access to the order/trade book and there is a chance for front-running of trades. Although this may or may not happen, it is a concern that goes silently unexpressed by most of them because there is barely any broker who refrains from prop trading.
Another important thing to consider is the risk management practices of a broker. If a broker is giving unreasonably high leverage, then they are exposing themselves. We don't do this. As you already know by now that we are conservative about providing unreasonable leverage and our systems will be able to manage volatility without jeopardizing ourselves. We are in this for the long haul and we don't believe in taking unworthy risks if that is your concern. Apart from that, your investment in shares is in custody of the depository (CDSL/NSDL) as the case may be. So even if the broker goes bankrupt, your holdings will not be affected.
However, if you still are concerned about losing your deposit, then I suggest you start small. Also, you can take payouts whenever you want. So when you feel like you're not going to trade, you don't have to leave your deposits overnight. Hope this makes sense.
Stockbrokers are tightly regulated by SEBI, the exchanges & Depositories (Regulated by SEBI & monitored/overseen by the exchanges & the concerned Depository). You may say that they can go absconding or bankrupt but that can happen with a bank too. A case in point is Amanat Co-operative Bank. At the end of the day, the integrity of the brokerage matters. At FYERS, client deposits are safely stored without using it for any speculative/untoward activities which can jeopardize the value of your deposits. We follow compliance to the highest standards and have been routinely audited by NSE compliance team who are very strict about these things. Also, an additional element of safety if you choose us, is that we don't do any kind of prop-trading activities. It means that there is a zero chance of us being exposed to financial indiscipline in that regard. Why don't we do prop-trading? To avoid conflict of interest with clients. Many professional and serious traders do not like to trade with brokers who are also taking positions on their prop book. This is because these brokers have access to the order/trade book and there is a chance for front-running of trades. Although this may or may not happen, it is a concern that goes silently unexpressed by most of them because there is barely any broker who refrains from prop trading.
Another important thing to consider is the risk management practices of a broker. If a broker is giving unreasonably high leverage, then they are exposing themselves. We don't do this. As you already know by now that we are conservative about providing unreasonable leverage and our systems will be able to manage volatility without jeopardizing ourselves. We are in this for the long haul and we don't believe in taking unworthy risks if that is your concern. Apart from that, your investment in shares is in custody of the depository (CDSL/NSDL) as the case may be. So even if the broker goes bankrupt, your holdings will not be affected.
However, if you still are concerned about losing your deposit, then I suggest you start small. Also, you can take payouts whenever you want. So when you feel like you're not going to trade, you don't have to leave your deposits overnight. Hope this makes sense.
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