FYERS

[Tejas Khoday]

Hi Mr. Tejas Khoday

I used to trade with Zerodha. Few days back I opened Fyers account. After my first trade in MCX through Fyers, I noticed that the CM charges levied in contract note is almost double than that of Zerodha.
Due to my trading volume, this higher CM charge makes a big difference for me.
Can you do something about it?

Surprisingly in brokerage calculater at Fyers website CM charge is shown at per with Z.
However, the Contract Notes tell a different story.

Thanks and regards.

Hi @SelfTrader,

1. Thanks for opening an account with us. The clearing member charges are inversely proportional to the volumes generated. As you know, we just acquired the MCX license recently and in comparison to many other traditional brokers, our charges are already much lower. This is likely to change with the passage of time. Although it may come across as double, the absolute number is very small in comparison to industry standards.

2. No, we show the breakup differently. If you still feel that it is different, please write to us at [email protected] and we'll have it checked in case of any discrepancies and if we have charged you more than what is shown as clearing/transaction charges on our margin calculator, we will refund that amount accordingly. We don't believe in saying one thing and doing another. Be rest assured that have straightforward business practices.

Thanks.

 

[Riskyman]

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

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.

The order was in transit period for long duration. I was not able to cancel or modify the order. I called Fyers Support also but they were busy.

I had similar problems on fyers web platform where the order I had placed were executed but the status showed the order as open. For a good 20-25 minutes I had no clue about this. Its only when I tried to cancel the order I learnt it had been executed long back.
I posted the problem here but instead of accepting it as a problem and fixing it , I was given a load of 3 layered tech talk, all of which had nothing to do with my problem.
At the moment I have stopped trading with Fyers as I see no point risking my money.

 

[timepass]

I had similar problems on fyers web platform where the order I had placed were executed but the status showed the order as open. For a good 20-25 minutes I had no clue about this. Its only when I tried to cancel the order I learnt it had been executed long back.
I posted the problem here but instead of accepting it as a problem and fixing it , I was given a load of 3 layered tech talk, all of which had nothing to do with my problem.
At the moment I have stopped trading with Fyers as I see no point risking my money.

How about Fyers One ?? Looks like a stable software. I have always been charry of web-based softwares because there are too many links between our desktop and the exchange and back.

 

[Riskyman]

How about Fyers One ?? Looks like a stable software. I have always been charry of web-based softwares because there are too many links between our desktop and the exchange and back.

Same problems everywhere.
Kite is not so bad. It has its share of dud once in a while but nothing compared to fyers web which gives problem everyday. It cant even modify an order in time.

 

[Tejas Khoday]

Recent Updates:

1. MCX Brokerage Calculator is available.

2. We have unblocked a few scrips which were previously blocked in Intraday & derivatives segment.

 

[Tejas Khoday]

I had similar problems on fyers web platform where the order I had placed were executed but the status showed the order as open. For a good 20-25 minutes I had no clue about this. Its only when I tried to cancel the order I learnt it had been executed long back.
I posted the problem here but instead of accepting it as a problem and fixing it , I was given a load of 3 layered tech talk, all of which had nothing to do with my problem.
At the moment I have stopped trading with Fyers as I see no point risking my money.

@Riskyman, I share everything in detail to give you an angle on what and why things happen the way they do on our platform. Why? So that you can use it better. In the meanwhile, we are doing our work. It's not like I'm trying to show you all smoke and mirrors. Please understand that. Secondly, I don't believe in forcing anyone to trade with us. We can only refine our platform, take feedback, criticism and work on it continuously. The tech talk definitely had everything to do with your problem. Otherwise, I wouldn't have given you an explanation.

Imagine this: I just say, yeah yeah we have taken your feedback and go missing. Then what? Would you appreciate that? For sure, you will have other things to say about our response rate and whatnot.

FYI, many people have migrated from other brokers like Zerodha (since you mentioned them) to trade with us for several reasons. It appears that you are being intentionally negative from your previous posts. I will say this again: Please trade with a broker who makes you comfortable after giving us your feedback. But it doesn't help if you start maligning our reputation even after taking all efforts to explain what exactly happens. We have already noted your feedback and will get it resolved.

 

[Tejas Khoday]

Same problems everywhere.
Kite is not so bad. It has its share of dud once in a while but nothing compared to fyers web which gives problem everyday. It cant even modify an order in time.

You are entitled to your opinions but I don't agree with it. I'm sorry but your attitude is seemingly negative and ill-intentioned. I hope you understand our perspective instead of simply criticizing everything we do. I am willing to take all kinds of feedback and improve upon our platform but it if it is rude and disrespectful, then it doesn't feel good. I understand that as a trader it can frustrate you at times, but I am giving you confidence that it will be done. That's all I can say.

 

[sanju005ind]

Dear @Tejas Khoday there are still minor glitches in the way things are executed in mcx.thrice my orders were not executed but margin blocked. i had to call the help desk to release it.Though there was no loss. I wish you understand the opportunity cost. I seriously am rooting fyers to become the top broker.

 

[timepass]

Recent Updates:

1. MCX Brokerage Calculator is available.

2. We have unblocked a few scrips which were previously blocked in Intraday & derivatives segment.

Speaking of MCX, there was a mail a few days ago asking whether the customer was interested in MCX trading. The mail promised a callback/contact within 24 hours. I did express an interest, but no response so far Just a reminder.

 

[sekpalani]

Hi @sekpalani, There are 4 different kinds of 3 window layouts on FYERS Web. Which one are you referring to? It would be helpful if you can send the screenshot so that our team can look into it. It works just fine here.

In center window only S1/R1 is getting plotter others are grayed could not turn on other two windows are fine.