FYERS

[desiwarrenbuffet]

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

 

[simplebuthard]

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
View attachment 30698

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.

 

[timepass]

Yeah, this "In transit" is a new term for me too.

 

[kingkrunal]

You can open a trading account too if you only want to transact in derivatives. However, if you want Intraday equities, then you might have to link vati ea third-party existing demat account by submitting your CMR copy.

So just trading account for derivaties is possible to open online or need any physical documents to send ?

 

[neo.mx]

Hi @neo.mx,

1. Our platform has a come a long way since the last one year. Please try trading again on Fyers Web. You will most certainly feel a big difference. Which features of NEST trader? Let me know so I can give my comments.

2. We have blocked a few scrips because the volatility and movement in them can exceed the margin requirements very easily. As on date, we have only blocked only 9 of the 200+ stocks (Click here to get the list) which have equity derivatives and for very real reasons. I will give you a brief explanation on why we did this.

A. PC Jewellers - After the Nirav Modi scam broke out this year, the stock has fallen more than 80% since 1st January 2018! After the market discovered that there was an issue with the disclosures by the company's management, On 2nd Feb 2018 alone, there was a 55% movement! This stock doesn't deserve to be in the F&O segment according to our risk management team and could pose big risks to us as a broker. Right now the contract value has reduced substantially so we could consider re-enabling it.

B. BPCL, GAIL, HPCL, IOC, ONGC - A random announcement by Arun Jaitley that the oil firms will have to absorb a 1 rupee fuel price reduction on October 4th led to an immediate sell-off to such an extent that the SPAN + Exposure Margins of derivative positions of traders were exceeded in barely 10 minutes (Overnight positions). Since we provide Intraday leverage of 3x, the margin of safety is approximately 5%. The next day, these stocks gapped down by more than 10% and ended the day lower by another 15%. In such circumstances, we have no choice but to reduce remove leverage from such stocks altogether. If other brokers haven't done it, then their risk management policies are questionable.

C. Indiabulls Housing Finance & Ujjivan - After there was a panic sell-off from DSP mutual fund's debt scheme, the market thrashed DHFL, Indiabulls and many other NBFCs including Bajaj FInance. The nature of the sell-off was extreme as DHFL crashed by more than 50% and Indiabulls had a 25% movement that day with huge volatility in the coming days. Ujjivan Finance was blocked for other reasons.

You may have looked at it as a wasted opportunity, but if you look at it from the above perspective it made sense to do it. Please note that we block and unblock based on our perception of the upcoming risks.

Hi @neo.mx,

1. Our platform has a come a long way since the last one year. Please try trading again on Fyers Web. You will most certainly feel a big difference. Which features of NEST trader? Let me know so I can give my comments.

2. We have blocked a few scrips because the volatility and movement in them can exceed the margin requirements very easily. As on date, we have only blocked only 9 of the 200+ stocks (Click here to get the list) which have equity derivatives and for very real reasons. I will give you a brief explanation on why we did this.

A. PC Jewellers - After the Nirav Modi scam broke out this year, the stock has fallen more than 80% since 1st January 2018! After the market discovered that there was an issue with the disclosures by the company's management, On 2nd Feb 2018 alone, there was a 55% movement! This stock doesn't deserve to be in the F&O segment according to our risk management team and could pose big risks to us as a broker. Right now the contract value has reduced substantially so we could consider re-enabling it.

B. BPCL, GAIL, HPCL, IOC, ONGC - A random announcement by Arun Jaitley that the oil firms will have to absorb a 1 rupee fuel price reduction on October 4th led to an immediate sell-off to such an extent that the SPAN + Exposure Margins of derivative positions of traders were exceeded in barely 10 minutes (Overnight positions). Since we provide Intraday leverage of 3x, the margin of safety is approximately 5%. The next day, these stocks gapped down by more than 10% and ended the day lower by another 15%. In such circumstances, we have no choice but to reduce remove leverage from such stocks altogether. If other brokers haven't done it, then their risk management policies are questionable.

C. Indiabulls Housing Finance & Ujjivan - After there was a panic sell-off from DSP mutual fund's debt scheme, the market thrashed DHFL, Indiabulls and many other NBFCs including Bajaj FInance. The nature of the sell-off was extreme as DHFL crashed by more than 50% and Indiabulls had a 25% movement that day with huge volatility in the coming days. Ujjivan Finance was blocked for other reasons.

You may have looked at it as a wasted opportunity, but if you look at it from the above perspective it made sense to do it. Please note that we block and unblock based on our perception of the upcoming risks.

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.

 

[desiwarrenbuffet]

Yeah, this "In transit" is a new term for me too.

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.

 

[timepass]

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.

Is there an order history available, as in Nest ?

 

[SelfTrader]

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.

 

[msdtime]

What are SM charges?

 

[desiwarrenbuffet]

I am again facing problem using Fyers mobile app. I had given buy order for yes bank & it is struck.Its showing this message from last 10 minute. I had called the Fyers Support but All staff were busy. I had emailed to support also