FYERS

[raj98]

@ TEJAS KHODAY sir,

thanks to FYERS support , able to place bracket orders in nifty monthly options. But faced below issues in FLYERS mobile app :

1. tried to place an bracket order with buying price at 105 and stoploss at 75(i.e. willing to take loss of 75 rs or in other words till premium reaches 30) . System didnt accepted the order stating that "Stop loss cannot be greater than 50%" .Checked with support team and they confirmed the restriction.

2. Tried to place another buy LIMIT bracket order at price 80 (market price was around 140 at that time ) . System rejected the order stating that "GAP price is more than the specified range" . Confirmed again with support team on the restriction.

Because of these restrictions, i am unable to implement my strategy . Went back to zerodha and both the orders went through fine without any issues. Is there any possibility to lift these restrictions for OPTIONS? It is more relevant to equity but may not be applicable to OPTIONS due to higher volatility IMO. I had 41k in my account but unable to buy one lot itself. Opened FYERS account with a thought of closing ZERODHA account but seems now cant do the same as I didnt expected these restrictions .

3. When can we expect enabling bracket orders for weekly nifty options and bank nifty weekly options.

 

[sach007]

Today First Time traded on Fyers Web... it was really awesome to Trade Fyers Web.... Took 3 Trades (3 buy 3 sell) all in Profit... very good and accurate data...

That is really awesome Platform.

One observation through which I suggest to change... when after we took the trade then that Line comes on chart... the Rectangle showing Profit/Loss or Entry Price it should be kept on either Left or in the Middle of chart as due to it we are not able to see the candles behind current trade clearly.

 

[Newbie Day-Trader]

@Tejas Khoday Are equity futures available for trading until the expiry-day on Fyers Web? For instance, would March ACC Future be available for trading on this Thursday on 28th of March? Just asking so that I know exactly when I would need to switch to next month's contracts.

 

[sach007]

@Tejas Khoday Are equity futures available for trading until the expiry-day on Fyers Web? For instance, would March ACC Future be available for trading on this Thursday on 28th of March? Just asking so that I know exactly when I would need to switch to next month's contracts.

Sorry to Jump in...

But I think it was not allowed in future where Physical Settelment is required... I received below Mail from Fyers 2-3 days back....

 

[ohenry]

@Tejas Khoday

You seem to be one of the most responsive person on this forum but sadly the same can not be said about your support persons. Any how here are my queries:

I am looking for opening trading account with you but I need a few clarifications:

I do most of my trading using basket orders so do you provide basket order facilities? If yes then which platforms? Can the basket orders be used for AMO and pre open( Placing orders between 9:00 am and 9:07 am) market as well?

For basket orders I need to import from .csv or .txt files. Is that supported? I am looking for something similar to NEST here.

In NEST, I can cancel multiple orders and square off multiple positions by multi selecting rows . Is that possible with your platforms as well?

Your intraday cash margin list is available as a web page which is kind of problematic for automation. Any plans to give that list as a xls or .csv file?

How can I contact any responsible person If I need any more clarifications? Please do not ask to write to support because I already tried that.


Thanks.

 

[Newbie Day-Trader]

Sorry to Jump in...

But I think it was not allowed in future where Physical Settelment is required... I received below Mail from Fyers 2-3 days back....
View attachment 34095

So, they prevent trading in futures 4 trading-days before Expiry? Why? As I see it, the volumes in next month's future don't seem to pick up until the expiry-day of the present month's contract, so we are left with having to trade less liquid contracts.

 

[sach007]

So, they prevent trading in futures 4 trading-days before Expiry? Why? As I see it, the volumes in next month's future don't seem to pick up until the expiry-day of the present month's contract, so we are left with having to trade less liquid contracts.

Read clearly... in that mail... "if you have required account balance and want to carry them unto expiry"

I am not aware how much is excess margin requirement as I am not trading Futures... as I remember read somewhere as per SEBI circular there is need of Increased margin.. or need full contract value margin then can carry till Expiry... I may be wrong..

Below is the Screenshot from Fyers article on Physical settlment.. it states clearly...

"If you don’t want your positions to be squared off, you will have to maintain an account balance which is equal to or more than the contract value of the derivative positions. "

Hope I may be helpfull...

 

[Tejas Khoday]

No broker allows this. If you want you can convert intraday to margin or margin to intraday. Bracket order is a different product.

Thanks for throwing some light on this topic @Dhanish.

 

[Tejas Khoday]

https://zerodha.com/z-connect/zerodha/zero-clearing-charges-from-22nd-march-for-equity-fo your clearing charges are quite high. Will you reduce it. The cost savings for an active intraday trader in terms of clearing charges will be quite high. Posting on this thread because Fyers team seems to be the only broker responding actively on this forum.

Hi @Creep, I encourage you to check the clearing charges of other brokers and you will notice that the clearing charges are significantly higher than ours. Please note that the clearing charges are levied by the Clearing Member (CM) and not us. Clearing Members have different rates for different brokers based on their commercial arrangements. Higher the volumes, lower the transaction costs. This is the rule of the game.

We have been associated with the same clearing member (IL&FS) as Zerodha all this while. Since Zerodha became a Self-Clearing Member, the clearing charges have been erased altogether. This is the eventual future in my opinion but you must note that our charges are lesser than the majority of other brokers out there.

By the way, Clearing Charges to total up to lesser than the brokerage so, in fact, it doesn't make too much difference to your overall transaction costs (Especially for retail traders).

Hope this clarifies.

 

[Tejas Khoday]

Thanks for clearly explaining all...

You're welcome @sach007