FYERS

[Tejas Khoday]

Yes, but that was last year, I think you are talking about this reply from @Tejas Khoday
https://www.quora.com/Which-Indian-...trading-account-for-both-equity-and-commodity

This is almost 1 year back and I think Angel Broking now has only one payin Account which you can use to Trade Equities and Commodities both. . In the same quora feed , there was a Tradejini doing it . I think Fyers should stay ahead of all these Old Grandpas.

What is the definition of staying ahead? I would love to implement it but we cannot ignore the possible adverse consequences in the name of innovation. The compliance standards in our industry are perhaps the most stringent and equivalent to banking. You will be surprised to know the kind of procedures that we have to follow to provide what we are currently. If you can point out to an exchange circular or SEBI circular then I am happy to take it forward.

 

[Tejas Khoday]

Okay Guys,
Let me be transparent. No personal attacks please.

I am trading since 2006. My broker moved from ICICI>Religare>Zerodha>SAS> Fyers

Might be I had expectations higher and hence my observations sound disappointing. The account opening process was not smooth and I accepted that as an individual/isolated occurrence. When I opened the trading platform of Fyers for the first time I was elated. I am already a pro customer of tradingview. Despite that I was happy to see a single trading window with DOM, order status and profit/loss on the chart. Only that it didn't last a week.

I had done extensively trading on Fyers for past two weeks and here are my observations:

1. Data Stops updating occasionally and you need to refresh the whole page, not only the chart. At first I thought it was due to interruption on my network, but along side Tradingview was running smoothly. When this happen, sometimes you don't come to know unless you keep on eye on the watchlist ticker.

2. At least 20 occasions I had seen some error messages, while placing an order or modifying an order. The message is not valid because anyway order gets placed and I failed to note them as they disappear in seconds. This creates hell lot of confusion and sometimes I end up placing double order in Panic.

3. At least 3 times my orders on chart and notification was not realtime after execution causing me to place double order.
4. Order reversal was not at all reliable for quick trade, and failed twice for no reason.

5. With 5 or so indicators on the chart, when I switch the chart from 5 minutes to hourly, it took about 8-10 seconds during market hours. Similarly, when switching chart from one script to another it took approx 5 seconds every time.
6. It doesn't support Indicator on Indicator. However this might be rather a Tradingview issue.

7. No commodity contract notes arrived from day 1. After complaint a support guy sent 3 CN together. And nothing thereafter.

8. Support guys are unreliable. They keep giving different answers for same question everytime.

9. Backoffice is not not upto my taste. Okay, this is my personal view and I can live with it.

@Tejas Khoday has a great vision and seems very positive. However I feel, this is no 'one man Army' game. A great team is required to march ahead the competition.

The above observations are absolutely personal and these doesn't mean I am giving up on Fyers yet


regards

Hi @jyotixxx,

Thanks for opening an account with us. Here are my responses to your observations:

1. Data Stops updating occasionally and you need to refresh the whole page, not only the chart. At first I thought it was due to interruption on my network, but along side Tradingview was running smoothly. When this happen, sometimes you don't come to know unless you keep on eye on the watchlist ticker.
Initially, we were fetching data from the exchange. This used up a lot of bandwidth and server capacity. Hence, we developed and moved to streaming data using TCP/IP wherein, we receive data in real-time without having to fetch from the exchange. When we did this, the speed went up dramatically. One of the pitfalls of this is that the data transmission comes in spurts if incase there is a connectivity fluctuation at the leased line level. This could happen at different intervals for different brokers/platforms. However, we will have this checked to see if there are any looming issues. If this happens, please click the refresh trading details button or reload the page.

2. At least 20 occasions I had seen some error messages, while placing an order or modifying an order. The message is not valid because anyway order gets placed and I failed to note them as they disappear in seconds. This creates hell lot of confusion and sometimes I end up placing double order in Panic.
What was the error message? I can't comment on this until I know what the error message was. It can be due to lack of account balance, order type etc.

3. At least 3 times my orders on chart and notification was not realtime after execution causing me to place double order.
When an order is placed, we make the order appear on the chart, DOM, Open positions window and All positions window using TradingView APIs. It takes a second to do that and I believe the delay shouldn't be more than that. If you want to see instantly before 1 or 2 seconds, it is available in the order book. In such cases, I encourage you to refresh the page before entering double orders in panic. You can also disable the trading from chart feature if it confuses you. It can be done from the settings window.

4. Order reversal was not at all reliable for quick trade, and failed twice for no reason.
Reverse orders can fail if there is insufficient margin. This can happen if there are pending orders in the order book. Kindly cancel pending which can be blocking your margins.

5. With 5 or so indicators on the chart, when I switch the chart from 5 minutes to hourly, it took about 8-10 seconds during market hours. Similarly, when switching chart from one script to another it took approx 5 seconds every time.
Yes, I acknowledge this. At FYERS we handle data differently. Everything is derived from 1-minute data and to convert it into hourly data takes up some time to compute at our server. We are changing this btw. Work in progress.

6. It doesn't support Indicator on Indicator. However this might be rather a Tradingview issue.
Yes, it's a Tradingview thing. They haven't provided that to any third parties.

7. No commodity contract notes arrived from day 1. After complaint a support guy sent 3 CN together. And nothing thereafter.
I guess this is happening in very few cases. If this reoccurs, please download it from the back office. It is available there. I believe our team has communicated this to you.

8. Support guys are unreliable. They keep giving different answers for same question everytime.
Support requirements have suddenly shot up. We have hired new staff recently and we're training them. We're also re-allocating tasks which will help them focus on their core activities more. It'll get better for sure.


9. Backoffice is not not upto my taste. Okay, this is my personal view and I can live with it.
We are upgrading it. I recently met up with the back office provider to speed up the migration from old back office so that clients can get a better experience. Post that, we will take your feedback and make it better

@Tejas Khoday has a great vision and seems very positive. However I feel, this is no 'one man Army' game. A great team is required to march ahead the competition.
We're definitely not a "one-man army". I am the visible face at FYERS and there are many behind me. In total, we are a team of 60+ and the team strength is growing.

The above observations are absolutely personal and these doesn't mean I am giving up on Fyers yet
Thanks @jyotixxx

 

[Tejas Khoday]

@Tejas Khoday
Sir, this seems to be a common problem for all the users. could you please personally look into this?

Agreed. Will solve this in a week or two when the migration is complete.

 

[Dev Meena]

Hi @jyotixxx,

Thanks for opening an account with us. Here are my responses to your observations:

1. Data Stops updating occasionally and you need to refresh the whole page, not only the chart. At first I thought it was due to interruption on my network, but along side Tradingview was running smoothly. When this happen, sometimes you don't come to know unless you keep on eye on the watchlist ticker.
Initially, we were fetching data from the exchange. This used up a lot of bandwidth and server capacity. Hence, we developed and moved to streaming data using TCP/IP wherein, we receive data in real-time without having to fetch from the exchange. When we did this, the speed went up dramatically. One of the pitfalls of this is that the data transmission comes in spurts if incase there is a connectivity fluctuation at the leased line level. This could happen at different intervals for different brokers/platforms. However, we will have this checked to see if there are any looming issues. If this happens, please click the refresh trading details button or reload the page.

2. At least 20 occasions I had seen some error messages, while placing an order or modifying an order. The message is not valid because anyway order gets placed and I failed to note them as they disappear in seconds. This creates hell lot of confusion and sometimes I end up placing double order in Panic.
What was the error message? I can't comment on this until I know what the error message was. It can be due to lack of account balance, order type etc.

3. At least 3 times my orders on chart and notification was not realtime after execution causing me to place double order.
When an order is placed, we make the order appear on the chart, DOM, Open positions window and All positions window using TradingView APIs. It takes a second to do that and I believe the delay shouldn't be more than that. If you want to see instantly before 1 or 2 seconds, it is available in the order book. In such cases, I encourage you to refresh the page before entering double orders in panic. You can also disable the trading from chart feature if it confuses you. It can be done from the settings window.

4. Order reversal was not at all reliable for quick trade, and failed twice for no reason.
Reverse orders can fail if there is insufficient margin. This can happen if there are pending orders in the order book. Kindly cancel pending which can be blocking your margins.

5. With 5 or so indicators on the chart, when I switch the chart from 5 minutes to hourly, it took about 8-10 seconds during market hours. Similarly, when switching chart from one script to another it took approx 5 seconds every time.
Yes, I acknowledge this. At FYERS we handle data differently. Everything is derived from 1-minute data and to convert it into hourly data takes up some time to compute at our server. We are changing this btw. Work in progress.

6. It doesn't support Indicator on Indicator. However this might be rather a Tradingview issue.
Yes, it's a Tradingview thing. They haven't provided that to any third parties.

7. No commodity contract notes arrived from day 1. After complaint a support guy sent 3 CN together. And nothing thereafter.
I guess this is happening in very few cases. If this reoccurs, please download it from the back office. It is available there. I believe our team has communicated this to you.

8. Support guys are unreliable. They keep giving different answers for same question everytime.
Support requirements have suddenly shot up. We have hired new staff recently and we're training them. We're also re-allocating tasks which will help them focus on their core activities more. It'll get better for sure.


9. Backoffice is not not upto my taste. Okay, this is my personal view and I can live with it.
We are upgrading it. I recently met up with the back office provider to speed up the migration from old back office so that clients can get a better experience. Post that, we will take your feedback and make it better

@Tejas Khoday has a great vision and seems very positive. However I feel, this is no 'one man Army' game. A great team is required to march ahead the competition.
We're definitely not a "one-man army". I am the visible face at FYERS and there are many behind me. In total, we are a team of 60+ and the team strength is growing.

The above observations are absolutely personal and these doesn't mean I am giving up on Fyers yet
Thanks @jyotixxx

Hi Tejas : I m also victim of "Point No 5" Since last year.. pls make it priority becasue in intraday we need to switch between script on hourly timeframe but it take a lot of time to load. Thanks in advance.

 

[mevaibhav]

many good stable discount brokers offering it ( Single fund for NSE/MCX) from Apr'2018 on-wards without any issues.. PM me if want to brokers list.

Thanks, Can you please name a few ?

 

[SelfTrader]

Hi @SelfTrader,
We have informed this to the concerned team to review and soon the statement will be provided.
Thanks!

Two weeks have passed since I raised the complaint on your support portal but the issue is still unresolved. Even there is no detailed reply from your side till date. How long a client is supposed to wait to get the issue resolved at Fyers?

 

[SelfTrader]

Not received a single penny? If this is true and the client is mapped under you and there is oversight from our end, every single penny will be paid. I cannot comment on it since I don't have the information at the moment but @FYERS_Team will definitely look into this and resolve it at the earliest.

Thx.

Two weeks have passed since I raised the complaint on your support portal but the issue is still unresolved. Even there is no detailed reply from your side till date. How long a client is supposed to wait to get the issue resolved at Fyers?

This is happening even when the issue has been highlighted to the founder.

 

[Teja.]

@Tejas Khoday Hii,
I have order query.
Say I have to buy 1200 quantity of 10600CE @ 68 and I want all to be filled at 68,68.05
I use BO order.So how to achiieve abv without much slippage??

This remained unreplied @Tejas Khoday Ji

 

[mevaibhav]

What is the definition of staying ahead? I would love to implement it but we cannot ignore the possible adverse consequences in the name of innovation. The compliance standards in our industry are perhaps the most stringent and equivalent to banking. You will be surprised to know the kind of procedures that we have to follow to provide what we are currently. If you can point out to an exchange circular or SEBI circular then I am happy to take it forward.

@Tejas Khoday Thanks for Replying to this, I have found a Sebi Article. Not sure if its the same .
https://www.sebi.gov.in/legal/circu...atives-markets-under-single-entity_36012.html

I know at least 3-4 Brokers which are using Unified Ledger for Stocks and Commodities and since all Brokers Follow SEBI Norms , I am pretty sure they know what they are doing .

I agree reading SEBI Documents is quite a Technical Task and It took me a while to find this one too . I will keep looking until I find the correct one . I will get back to you with the Correct one If I when I find it.

 

[newtrader101]

How do we find out the reason these orders are rejected. The price panel cannot be pulled back beyond a limit..