500/600/700 fixed charges for APIs and brokerage? Come on @lemondew that is not at all reasonable. There are hardly any users who would be interested in APIs and the ones that are interested usually have a lot of demands. It requires dedicated resources.
Hopefully FYERS APIs will be better than Zerodha and if you believe so, you can charge more than them. Just make sure that your platform should work not like theirs which always crashes.
 

lemondew

Well-Known Member
No am not being unreasonable. You must be knowing interactive brokers give api free. They only charge brokerage. I have used it but one can trade only index futures and stock futures. Also their api is reliable. Amibroker has plug in and functions to directly call ib api. Ib has some strange rules wrt intraday stock trading.

Your api will be meant for those who wish to trade stocks. But if your charges are nil then it can serve anyone and it can become unique proposition. Provided its error free. Otherwise for index traders why would should they pay extra when its available free. Those who trade nifty via kite api simply dont know a better and reliable api exist in ib.





500/600/700 fixed charges for APIs and brokerage? Come on @lemondew that is not at all reasonable. There are hardly any users who would be interested in APIs and the ones that are interested usually have a lot of demands. It requires dedicated resources.
 
Is there any particular reason why you choose to trade on FYERS One?
I am addicted to EXE based execution systems. Dont like the lag that Web based interfaces provide.
Thats why, even with Zerodha, other than logging in for Fund transfers, I never use Kite. Maybe because I am used to customising my display with order book, trade book, etc in particular places. Maybe because have been using EXE based software for more than 15 years is making it hard for me to use a web based interface. But mostly for the speed.
 
Hi @Sakthiganesh,
  1. Yes, you can open an account in paperless mode. No you won't require to send any documents physically.

  2. You can activate your trading account in - Equity Intraday, Equity F&O, Currencies & Commodities.

  3. Account opening is free. There is no AMC either.

  4. Completing the online process won't take you more than 15 minutes if you have all the docs ready. The activation will take a few days at the moment as we are migrating to a new office.
Hope this helps.
OMG! you guys got your DP activated??
i mean i am dying to convert my trading account into a dmat one.
 
Tejas,

Do you trade derivatives or commodities in proprietory accounts either under the company or its directors and if so how do you ensure that risk associated in such trades do not affect the broking operation and safety of your clients margins.This question is more relevant when you will get your DP licence and the clients should have faith in keeping their shares in your DP...

Technically broker cannot move shares from his clients Demat accounts unless it is for pay in obligation but I am told that in past there have been instances when brokers moved shares in their clients accounts and sold them to fund their trading losses....how do you assure your clients.?

ST
 

Tejas Khoday

Co-Founder & CEO, FYERS
No am not being unreasonable. You must be knowing interactive brokers give api free. They only charge brokerage. I have used it but one can trade only index futures and stock futures. Also their api is reliable. Amibroker has plug in and functions to directly call ib api. Ib has some strange rules wrt intraday stock trading.

Your api will be meant for those who wish to trade stocks. But if your charges are nil then it can serve anyone and it can become unique proposition. Provided its error free. Otherwise for index traders why would should they pay extra when its available free. Those who trade nifty via kite api simply dont know a better and reliable api exist in ib.
Hey @lemondew, You said 500/600/700 including APIs and brokerage. That is unreasonable. Thanks for your feedback about IB. We will explore your suggestions. Let's see what can be done. I'll revert this month w.r.t APIs.
 

Tejas Khoday

Co-Founder & CEO, FYERS
OMG! you guys got your DP activated??
i mean i am dying to convert my trading account into a dmat one.
We have received the DP license :). Integrations are in the process. Almost done! We're gonna go live soon. I don't want to give any dates but this will surely happen in the very near future this month.
 

Tejas Khoday

Co-Founder & CEO, FYERS
Tejas,

Do you trade derivatives or commodities in proprietory accounts either under the company or its directors and if so how do you ensure that risk associated in such trades do not affect the broking operation and safety of your clients margins.This question is more relevant when you will get your DP licence and the clients should have faith in keeping their shares in your DP...

Technically broker cannot move shares from his clients Demat accounts unless it is for pay in obligation but I am told that in past there have been instances when brokers moved shares in their clients accounts and sold them to fund their trading losses....how do you assure your clients.?

ST
Hey @Smart_trade,
  1. No, we don't and we have made this very clear since our inception! FYERS hasn't even applied for a Proprietary Trading License. We do not intend to have a prop license in our broking entity in the future either. I am personally committed to this. This is one of the things that differentiates us from other brokers out there! We don't have any conflict of interest with our clients.

  2. Even when we used to deal with IL&FS DP, we were very clean in the way we operated. Client shares were always stored in the client beneficiary accounts and not the FYERS pool Account. At FYERS, the clients never faced any issues during company corporate actions such as dividends and bonus issues unlike with other brokers. All dividends & bonus shares have been duly received by the demat account holders.

  3. Ideally, yes you are right. But there are provisions that allow brokers to transfer shares for pay-in obligations. The exchange looks at obligations at a Trading Member (TM) / Broker Level To the best of my knowledge, many brokers store the client holdings in the broker pool account for whatsoever reasons. At FYERS, we transfer all shares to the respective client accounts on the settlement to avoid such situations at all costs.
By the way, regulations are becoming tighter. We have not felt the pinch since the start of our business because we were following the best practices anyway. I want you to know that we are on your team. I understand that that it's a valid fear but we will continue to be transparent with our clients at all times. Btw, I recently wrote an article on Financial Express about how to safeguard your Demat account. We want to increase awareness about this.