Tejas Khoday

Co-Founder & CEO, FYERS
Today I placed a cover order to buy ,jet airways at price 322 for 1000 qty.

My order was shown in transit. I was not able to cancel or modify the order.
The order got filled at 352 & now I am in loss position.

In the transit period we should have atleast the option to cancel the order
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Hi, let me clarify this.

1. When you place an order on our platform, the order details are stored on our system.

2. The order request is then sent to the exchange.

3. The exchange needs to respond to the relevant order request with an order number and status.

4. Until then, the order remains in transit. It means that our system has not yet gotten a response from the exchange.

The reason we don't allow order modification or cancellation of transit orders is because the system does not yet know the status of the order.
 

Tejas Khoday

Co-Founder & CEO, FYERS
Transit period?

Is there such one transaction status available in our markets?

Are we sending spaceship from earth to Mars?

322 to 352 that is so horrible and funny. :):):):)
Hello @simplebuthard,

Transit means that our system is waiting for the order confirmation from the exchange after we have successfully submitted the order details. The status will change automatically once we receive a response from the exchange.
 

Tejas Khoday

Co-Founder & CEO, FYERS
So just trading account for derivaties is possible to open online or need any physical documents to send ?
You can open a trading account if you want to transact in derivatives only. But please note that our policies might change since the physical settlements of stock derivatives have been implemented by the exchange.
 

Tejas Khoday

Co-Founder & CEO, FYERS
1. I was talking about the apply ltp option in basket order window. NEST has this feature. But I guess it is not so popular.

2. I was referring to equity cash segment. If you block full amount (buy or sell value) for such volatile scrips, then I don't think there will be any risk from your end. Then clients who wanted to trade in such scrips in cash, would get an opportunity.
Hello @neo.mx,

1. Yes, we do have the basket order functionality. It is possible to place basket orders on FYERS One. You can place orders as per your preferences.

2. Yes, this makes sense. Maybe we'll consider removing leverage but enabling the INTRADAY product type for those who want to take positions without leverage in those stocks. Thanks for your feedback.