When I posted that message, obligation pay-ins & pay-outs were going on without any glitches whatsoever. Currently, there is a liquidity shortage due to some trade settlement issue between ISSL & NSE which is why F&O segment is blocked at their end as a result of that, over 40-50 brokers are affected. I doubt if NSE will refund anybody's incidental losses but you can write to them asking not to punish other brokers & their clients as a result of wrongdoing/mismanagement by someone else.
@Tejas Khoday Have you written the same for your clients?

How we do things differently:
  1. ***
    rat
  2. We don't do proprietary trading activities and thus, do not take a risk in our business entity which may jeopardize the safety of clients' funds/securities.

  3. ***
@Tejas Khoday Pls post the link of such declaration available at Fyers.in website
 

Tejas Khoday

Co-Founder & CEO, FYERS
wow, .sometimes we cry for right reasons and for wrong reasons..problem occurred from exchange side but now brokers taking a toll for it..well getting no objection letter also a made-up task. hope fyers get it asap.I still wonder why Sebi then allowing ILand FS after the crisis knowing their wrongdoings..Yesterday after this incident they should have not allowed trading and who took fresh positions are worried today..This spinless Exchange has no clue what they are up to.i came across 2 types of traders here. who really got caught and worried and others who didn't even have a position but argue i missed huge profit due to this and these peoples mouths are so loud & amplified pointing fingers .i can hope fyers come out of this getting no-objection certificate .your efforts of making better infrastructure will not go in vain ..maybe you might lose some junk who are lazy enough to watch out messages you posted like how to exit your position in this case and not even bother whats the problem behind....few smartholes started spreading that these brokers did not paid hence they were not allowed..Crazy,
Hi @Mukr,

Thanks for understanding the situation, I really appreciate it. However, I understand the clients' frustrations too. I don't blame them because the National Clearing Corporation, NSE, media, IL&FS and the concerned parties have not helped communicate the situation exactly and thus when terminals of brokers are suddenly blocked overnight without giving any reasons to either the brokers or their clients, it feels like shit! Since they are directly in touch with brokers, they will blame us.

I hope I have communicated to help you understand better. We'll do everything in our power to accelerate the transition process and finally disassociate ourselves with IL&FS both in terms of clearing and demat services.

You can expect a message very soon.
 

Tejas Khoday

Co-Founder & CEO, FYERS
@Tejas Khoday Have you written the same for your clients?



@Tejas Khoday Pls post the link of such declaration available at Fyers.in website
I have written letters & communicated to:
  1. MD of the National Clearing Corporation (NCL)
  2. MD of the National Stock Exchange (NSE)
  3. Securities & Exchange Board of India (SEBI)
Yes, I have spoken about the fact that we don't do prop trading for a long time on this thread and we have even mentioned it on our website.

Hope this clarifies.
 
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@Tejas Khoday Great to hear from your team that you have come out from IL&FS. In spite of your hectic situation you have written to the clients and clarified their queries which gives a great positivity.
Supporting staff carried on the situation very well, don't worry @FYERS_Team this could be a lesson to fight back and I am sure that you will become the number 1 stock broker in India.
 

Mukr

Active Member
So, people who want to move out are JUNK?

Its your money and your risk and can decide to stay or not.

But people who are losing their hard earned money due to issues which are out of their control have their own decisions to make. Calling them JUNK is not cool.

Take care.
I am a retail trader too..seen whats the problems and took my precaution not to enter the trade and my mouth isn't loud..is urs? what's bothering about you..did you felt ur are one?. How many issues did you faced from fyers and do you know what was the problem at present...look at your answer before discouraging people not to be here and you say you're proud of it ..yeah its people money right everyone has their own mind and its none of your business asking others to move away.
 
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sach007

Impatient Trader
@Tejas Khoday I really appreciate the way you are answering and handling the situation..

This increased confidence in Fyers as a Firm.. Even though 2 days I traded with my other broker...

I will keep an eye on the further updates...so that would continue trading with fyers.

PLz keep this transparency continued... the way you are keeping as of now... it needed at such times...

Thanks
 

anildnr

Well-Known Member
I am a retail trader too..seen whats the problems and took my precaution not to enter the trade and my mouth isn't loud..is urs? what's bothering about you..did you felt ur are one?. How many issues did you faced from fyers and do you know what was the problem at present...look at your answer before discouraging people not to be here and you say you're proud of it ..yeah its people money right everyone has their own mind and its none of your business asking others to move away.
Hi Mukr..here almost everyone is retail trader and I feel we have the right to ask broker about the issues whether it Is the first time or not . Because when everything is working fine and we are getting losses no broker will give you money back by showing sympathy on us. It's just competitive business for them thats it.
Watever the messages posted that is because of frustration of platform issues and no one is abusing fellow traders.
Some people tell aggressive and some may keep calm its their wish as they are the ones paying their own money . But abusing is not correct I feel. Let's stop this and happy trading.
 
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jyotixxx

Well-Known Member
I am a retail trader too..seen whats the problems and took my precaution not to enter the trade and my mouth isn't loud..is urs? what's bothering about you..did you felt ur are one?. How many issues did you faced from fyers and do you know what was the problem at present...look at your answer before discouraging people not to be here and you say you're proud of it ..yeah its people money right everyone has their own mind and its none of your business asking others to move away.
This shows your maturity !! Mods please have a look ! At least this forum doesn't deserve junks! @timepass
 
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