FYERS

[vipicorp]

Orders getting rejected in spite of having sufficient funds. Helpdesk saying no problems from their end. Is it just me or anyone else facing this issue?

I was trying to place orders in USDINR

I am sure the order window shows the reason for rejection. Will help if you post it here

 

[soft_trader]

I am sure the order window shows the reason for rejection. Will help if you post it here

Error "RMS:320010XXXXX:FUND LIMIT INSUFFICIENT 0.00|E0001|0.00 "
But I have enough funds

 

[soft_trader]

Error "RMS:320010XXXXX:FUND LIMIT INSUFFICIENT 0.00|E0001|0.00 "
But I have enough funds

Update: issue resolved now

 

[vipicorp]

@FYERS_Team I was trying to execute a BO in cash & bombarded with multi-leg executions; that's understandable. But why Stop & Take profit also gets placed in multi legs? Is there a way we can merge it? Modifying over 25 separate legs seems quite difficult

PS: Also would like to know how the brokerage will be calculated for multi-leg executions as my order placement was in single slot.

 

[tryszu]

@FYERS_Team I was trying to execute a BO in cash & bombarded with multi-leg executions; that's understandable. But why Stop & Take profit also gets placed in multi legs? Is there a way we can merge it? Modifying over 25 separate legs seems quite difficult

PS: Also would like to know how the brokerage will be calculated for multi-leg executions as my order placement was in single slot.

I have found that the BO charges are higher when compared to a CO order in identical conditions. I presume each order is being charged individually as and when it is executed. As far as merging the orders for easier modification is concerned there was a discussion a while back, in fact multiple discussions among traders voicing the same concerns. Here is a link to one such discussion, you will probably have to navigate a few pages back and forth to get the idea. As of now there is no way to merge the orders together, something to do with the mechanics of the said order type I presume.

 

[FYERS_Team]

@FYERS_Team I was trying to execute a BO in cash & bombarded with multi-leg executions; that's understandable. But why Stop & Take profit also gets placed in multi legs? Is there a way we can merge it? Modifying over 25 separate legs seems quite difficult

PS: Also would like to know how the brokerage will be calculated for multi-leg executions as my order placement was in single slot.

Hi,
We have already explained the BO functionality here and the as per the execution multiple orders can occur. If the parent ID is one for the Leg-1 then if cancel any leg of the pending BO it will square off the entire order and you don't require to close them one by one. Also, you can square-off the entire order from the DOM window using Cancel all sell orders. BO functionality doesn't allow one modifies the all.
Hope you find this useful.

 

[asterix]

Hi,
We have informed this to the concerned team to resolve this at earliest. Our team will update you soon.

Thanks!

Could you let me know the status of my ticket. I haven't received any response from your team. Ticket: #3007882

Update: they replied to my ticket, so its all good now.

 

[midhoo]

@Tejas Khoday
@FYERS_Team

Sir,
I think “Filing income tax (For Trading)” is more difficult than profitably trade in F&O.
I have been trading for the last 2 years. First year I made a loss of 1.7 lakhs and when tax filing, I was trying to carry forward the loss. But the CA told me not to do that because I had to spend more money for auditing the account and he said it is a tedious job and better not to do that.
I was trading with another broker and 2 months back I switched to Fyers. I read your article in the Fyers website about F&O taxation. So could you please clear my doubts about F&O trading tax filing.

• What are the procedures for filing F&O trading income?
• As far as I know, less than 8% of profit or more than 1 crore turnover required audit, can the audit be done via online by sending contracts notes?
• Do you have partnership with any CA firm, so we can file tax directly?
• How much will it cost for auditing the same?
• Do I have to keep any account book other than Contract notes?

 

[midhoo]

@Tejas Khoday

Sir,
I think “Filing income tax (For Trading)” is more difficult than profitably trade in F&O.
I have been trading for the last 2 years. First year I made a loss of 1.7 lakhs and when tax filing, I was trying to carry forward the loss. But the CA told me not to do that because I had to spend more money for auditing the account and he said it is a tedious job and better not to do that.
I was trading with another broker and 2 months back I switched to Fyers. I read your article in the Fyers website about F&O taxation. So could you please clear my doubts about F&O trading tax filing.

• What are the procedures for filing F&O trading income?
• As far as I know, less than 8% of profit or more than 1 crore turnover required audit, can the audit be done via online by sending contracts notes?
• Do you have partnership with any CA firm, so we can file tax directly?
• How much will it cost for auditing the same?
• Do I have to keep any account book other than Contract notes?

 

[Tejas Khoday]

All these "per order" brokerage fee charging broking houses are seemingly supporting this new irrational and completely uncalled for changes in the intraday margin policy. Well they may have their own compulsion in supporting this but the fact remains, if these rules are really implemented in the current form , the biggest hit will be taken by these 'discount' brokers. "per order" fee makes sense to futures and option traders who want to trade in bigger lot sizes, at least in the intra-day scenario. And bigger lot sizes invariably incorporate intraday leverage as a package. Why on earth would anyone pay these discount brokers Rs.20/- for 1 lot of Nifty (assuming trading capital of 1 Lac ) when many big broking houses are already offering as low as Rs 2/- to Rs.5/- per lot? Volumes would dry up and to attract volumes many broking houses will be forced to under cut this 20 rs per order model in a big big way.... But biggest question remains --- is the government ready to suffer a big dip in STT collections from the markets , especially in the current fiscal scenario ...?

Hey @deba72, As a brokerage we have to comply with the SEBI regulations. That doesn't mean we wholeheartedly support each and every change in the ruleset. We have made our concerns heard and there is a process of dialogue through the industry bodies that need to make a presentation stating the disadvantages and how it can affect not just the brokers but also the government's revenues (STT, Stamp Duty, GST, Corporate Taxes) liquidity, impact cost, etc.

If it does happen, discount brokers will take a hit as volumes will go down but it will affect everyone else too. There may be a price war again which may cause collateral damage to the ecosystem. Hopefully, there will be a change of mind and they will revert the changes but as a broker, we have to comply with the regulations. Ultimately, we are just a link in the chain.