Hi @Tejas Khoday,
I was looking to open an account with Fyers today but there were few questions that were left unanswered by your support team, so I thought I will post them here to get quick answers.
1. Whats your margin policy for options selling on the last 2 days of monthly expiry and on the day of expiry?
2. Do you have any plans to change the margins in near future (how frequent)?
3. Do you allow 'trading' only account opening?
I trade with significant amounts and its difficult to switch brokers due to margin changes. Hence, I would like some genuine answers to the above questions.
Regards,
I was looking to open an account with Fyers today but there were few questions that were left unanswered by your support team, so I thought I will post them here to get quick answers.
1. Whats your margin policy for options selling on the last 2 days of monthly expiry and on the day of expiry?
2. Do you have any plans to change the margins in near future (how frequent)?
3. Do you allow 'trading' only account opening?
I trade with significant amounts and its difficult to switch brokers due to margin changes. Hence, I would like some genuine answers to the above questions.
Regards,
Thanks for writing to me.
- Our Margin policies are standardized across the month/expiry week as mentioned in our Margin Calculators. We do not provide any additional margin for option sellers on or before expiry day. Frankly, I believe that any broker that provides excessive margin on expiry day to traders for option selling is asking for trouble and is inviting black swan events to wreck their business one a fateful day. We follow conservative risk management practices and avoid too much leverage.
- We do not change the margins for option selling and it has stayed the same for over 2 years. We intend to keep it in a range that is manageable depending on the market volatility.
- Yes, you can open a trading account with us without having to open a demat account as long as you trade in F&O. If you trade in equity (Intraday equity included), you will have to open a demat account. It's free to open and maintain a demat account with us. For more information, read this post.