Why order modifications are slow in Fyers Web? Placing orders are good. But whenever I modify orders it takes a while.
I was very excited when I opened my account almost a year ago. But after that it never became my primary trading account.
i) I was looking for some specific features of NEST trader (feature requested a year ago) , which is not provided by Fyers Web or One.
ii) RMS policy of fyers. Some volatile stocks are blocked for intraday trades. Shorting is also blocked on such stocks. If stock is risky by the standard of RMS team, then at least allow us to trade on that. I wouldn't mind blocking full 1x margin for such scripts. But blocking altogether is a wasted opportunity for me.
However charting is very good in Fyers Web.
Hi
@neo.mx,
1. Our platform has a come a long way since the last one year. Please try trading again on Fyers Web. You will most certainly feel a big difference. Which features of NEST trader? Let me know so I can give my comments.
2. We have blocked a few scrips because the volatility and movement in them can exceed the margin requirements very easily. As on date, we have only blocked only 9 of the 200+ stocks
(Click here to get the list) which have equity derivatives and for very real reasons. I will give you a brief explanation on why we did this.
A. PC Jewellers - After the Nirav Modi scam broke out this year, the stock has fallen more than 80% since 1st January 2018! After the market discovered that there was an issue with the disclosures by the company's management, On 2nd Feb 2018 alone, there was a 55% movement! This stock doesn't deserve to be in the F&O segment according to our risk management team and could pose big risks to us as a broker. Right now the contract value has reduced substantially so we could consider re-enabling it.
B. BPCL, GAIL, HPCL, IOC, ONGC - A random announcement by Arun Jaitley that the oil firms will have to absorb a 1 rupee fuel price reduction on October 4th led to an immediate sell-off to such an extent that the SPAN + Exposure Margins of derivative positions of traders were exceeded in barely 10 minutes
(Overnight positions). Since we provide Intraday leverage of 3x, the margin of safety is approximately 5%. The next day, these stocks gapped down by more than 10% and ended the day lower by another 15%. In such circumstances, we have no choice but to reduce remove leverage from such stocks altogether. If other brokers haven't done it, then their risk management policies are questionable.
C. Indiabulls Housing Finance & Ujjivan - After there was a panic sell-off from DSP mutual fund's debt scheme, the market thrashed DHFL, Indiabulls and many other NBFCs including Bajaj FInance. The nature of the sell-off was extreme as DHFL crashed by more than 50% and Indiabulls had a 25% movement that day with huge volatility in the coming days. Ujjivan Finance was blocked for other reasons.
You may have looked at it as a wasted opportunity, but if you look at it from the above perspective it made sense to do it. Please note that we block and unblock based on our perception of the upcoming risks.
