FYERS

[raj98]

Update on risk management measures for MCX today:

• CO/BO orders are blocked.
• Intraday leverage has been reduced to 2x.

Why MCX bo are blocked ? What volatility is expected in MCX ?

 

[raj98]

A request to FYERS RMS team. Bracket orders are a wonderful product which reduces the risk of a trader as stoploss and targets are well defined during entry itself. It is much needed in current conditions where volatility is expected. If volatility expected, Please increase the gap or reduce leverage of a BO, But please don't block BO, as traders has to trade naked MIS instead of BO which will actually increase the risk for traders. Hope FYERS team will consider this request.

 

[kaly422000]

in high volatility days like now in circuits days etc some intraday regulations imposed by mainly online brokers .zerodha is aggresive enough here ,they also increased call to trade charges to rs 50/ , bo/co orders are blocked. I think others will also follow it. margin reduced to now 100% today. so everyone i think sud have good offline broking account now as well. otherwise u can not have edge when ever there are good chances in intraday

 

[Tejas Khoday]

Latest Notice: Risk Management Measures For 24.03.2020

 

[Sakthiganesh]

Latest Notice: Risk Management Measures For 24.03.2020

Once the volatility over you will revise the margin to 20times ?

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[Tejas Khoday]

Once the volatility over you will revise the margin to 20times ?

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Currently providing high leverage makes no sense. We're watching the markets carefully and will enable leverage when it is feasible.

 

[Tejas Khoday]

in high volatility days like now in circuits days etc some intraday regulations imposed by mainly online brokers .zerodha is aggresive enough here ,they also increased call to trade charges to rs 50/ , bo/co orders are blocked. I think others will also follow it. margin reduced to now 100% today. so everyone i think sud have good offline broking account now as well. otherwise u can not have edge when ever there are good chances in intraday

We have enabled the intraday segment as of now as mentioned in our latest notice - Risk Management Measures For 24.03.2020. Please note that high volatile days have to be managed carefully by brokers. We're seeing some freak trades happening and in this environment providing high leverage or CO/BO orders is not the safest thing to do. Also, the regulator is discouraging leverage & short-selling.

Oh, & Btw, our RMS is managed differently. We provide intraday leverage based on VAR, not fixed leverage. Not fair to say others will follow suit. We act independently.

 

[raj98]

Support for bracket orders is the main reason for Opening trading account with FYERS ...if FYERS is gonna block BO everyday , there is no use in having a trading account which cannot be used for trading. Iam even unable to move my money out as support team is saying it will take 1 day for processing payouts. Worst experience nowadays with FYERS after a beautiful journey of more than a year.

 

[Tejas Khoday]

A request to FYERS RMS team. Bracket orders are a wonderful product which reduces the risk of a trader as stoploss and targets are well defined during entry itself. It is much needed in current conditions where volatility is expected. If volatility expected, Please increase the gap or reduce leverage of a BO, But please don't block BO, as traders has to trade naked MIS instead of BO which will actually increase the risk for traders. Hope FYERS team will consider this request.

Hi @raj98, Not possible now. We have disabled BO/CO until further notice. I think you should be aware that in highly volatile times when freak trades happen, BO is most vulnerable. It's better to trade using the margin product type or intraday.

 

[Tejas Khoday]

Support for bracket orders is the main reason for Opening trading account with FYERS ...if FYERS is gonna block BO everyday , there is no use in having a trading account which cannot be used for trading. Iam even unable to move my money out as support team is saying it will take 1 day for processing payouts. Worst experience nowadays with FYERS after a beautiful journey of more than a year.

If you have requested a withdrawal request before 8 PM, it will be processed EOD. You will get it the credit in your account the next day. That's how it works! Please note that if you are moving out because BO is blocked, you are probably making a mistake and grossly underestimating risk. Leverage is your enemy during such times! Please be careful wherever you trade. We will continue to do what's best for our clients.