FYERS

[Tejas Khoday]

@ tejas khoday
Can you implement moving chart using left click mouse button (like FYERS WEB) using arrow key different experience

Hi, didn't understand your message. Can you re-phrase?

 

[TraderGYO]

Hello Tejas it seems SEBI has rolled out new rules regarding lot size , F&O exposure based on income and etc. can you kindly simplify those regulations for us?
Also Tejas , if you could explain in simple terms what are ramifications of the new regulations on a student trading in F&O

 

[timepass]

Hello Tejas it seems SEBI has rolled out new rules regarding lot size , F&O exposure based on income and etc. can you kindly simplify regulations those for us?

Second that.

 

[neo.mx]

Is there any plan to provide NEST as alternative trading software?

Sent from my Redmi 4A using Tapatalk

It's easy to do but no we don't want to.

I requested you earlier to implement apply ltp option in basket order window. Can you please also add some keyboard shortcuts in basket order window to avail all the options, like apply ltp to all scripts, placing the order etc. In Fyers one, I did not find any keyboard shortcut to place the order. Moreover, clicking the place order button opens an additional confirmation page which seems to slow down the order placement process.

Currently I have to use my second broking account with some other broker just to use the bracket order functionality of NEST which is very inconvenient.

Thanks





Sent from my Redmi 4A using Tapatalk

 

[Tejas Khoday]

Hello Tejas it seems SEBI has rolled out new rules regarding lot size , F&O exposure based on income and etc. can you kindly simplify those regulations for us?

As per the SEBI press release today on Page No. 4, point no. 3 (V), this was what was mentioned:
"To reflect global initiatives on product suitability, a framework has been approved. Individual investors may freely take exposure in the market(cash and derivatives) upto a computed exposure based on their disclosed income as per their Income Tax Return(ITR) over a period of time. For exposure beyond the computed exposure, the intermediary be required to undertake rigorous due diligence and take appropriate documentation from the investor."

So far, the framework has not been made public yet. According to me, the implementation or rather the efficiency of this seems questionable because of the following reasons:

1. Traders can possibly open an account in their fathers/father in law's names and trade just because their ITR is higher.

2. Traders can open an account with multiple brokers and submit the same ITRs and take positions thereby circumventing regulations.

3. Traders may partner with someone whose ITR is higher than theirs and come into a profit-sharing arrangement.

4. Traders may start a company and try to circumvent regulations by accepting capital by way of fresh issuance of shares.

5. Traders may simply get fake ITRs fabricated for the purpose of trading etc.

The possibilities are plenty. We'd have to wait and see the fine print whenever it is made available to us. An important point which I think has been overlooked is that most people in India don't pay much Income taxes. This is a widely known and accepted fact. Thus, by linking the position size of a trader to his overall income, it may severely hinder participation. I highly doubt that traders will start filing for higher taxes just because they can get higher exposure in the F&O market. Anyways, let's wait it out and see. We'll discuss this as it unfolds.

 

[Tejas Khoday]

I requested you earlier to implement apply ltp option in basket order window. Can you please also add some keyboard shortcuts in basket order window to avail all the options, like apply ltp to all scripts, placing the order etc. In Fyers one, I did not find any keyboard shortcut to place the order. Moreover, clicking the place order button opens an additional confirmation page which seems to slow down the order placement process.

Currently I have to use my second broking account with some other broker just to use the bracket order functionality of NEST which is very inconvenient.

Thanks





Sent from my Redmi 4A using Tapatalk

I understand. It is on our list and it will be done in the future.

 

[timepass]

With PAN linked to the trading accounts, fabricating the ITR won't be possible. Also, for the same reason, there shouldn't be any need to submit the ITR to the brokers, can be taken straight from the ITO.

Sounds like over-regulation to me.

What's that about the lot size. If an increase comes, when it is likely to be ?

As per the SEBI press release today on Page No. 4, point no. 3 (V), this was what was mentioned:
"To reflect global initiatives on product suitability, a framework has been approved. Individual investors may freely take exposure in the market(cash and derivatives) upto a computed exposure based on their disclosed income as per their Income Tax Return(ITR) over a period of time. For exposure beyond the computed exposure, the intermediary be required to undertake rigorous due diligence and take appropriate documentation from the investor."

So far, the framework has not been made public yet. According to me, the implementation or rather the efficiency of this seems questionable because of the following reasons:

1. Traders can possibly open an account in their fathers/father in law's names and trade just because their ITR is higher.

2. Traders can open an account with multiple brokers and submit the same ITRs and take positions thereby circumventing regulations.

3. Traders may partner with someone whose ITR is higher than theirs and come into a profit-sharing arrangement.

4. Traders may start a company and try to circumvent regulations by accepting capital by way of fresh issuance of shares.

5. Traders may simply get fake ITRs fabricated for the purpose of trading etc.

The possibilities are plenty. We'd have to wait and see the fine print whenever it is made available to us. An important point which I think has been overlooked is that most people in India don't pay much Income taxes. This is a widely known and accepted fact. Thus, by linking the position size of a trader to his overall income, it may severely hinder participation. I highly doubt that traders will start filing for higher taxes just because they can get higher exposure in the F&O market. Anyways, let's wait it out and see. We'll discuss this as it unfolds.

 

[TraderGYO]

As per the SEBI press release today on Page No. 4, point no. 3 (V), this was what was mentioned:
"To reflect global initiatives on product suitability, a framework has been approved. Individual investors may freely take exposure in the market(cash and derivatives) upto a computed exposure based on their disclosed income as per their Income Tax Return(ITR) over a period of time. For exposure beyond the computed exposure, the intermediary be required to undertake rigorous due diligence and take appropriate documentation from the investor."

So far, the framework has not been made public yet. According to me, the implementation or rather the efficiency of this seems questionable because of the following reasons:

1. Traders can possibly open an account in their fathers/father in law's names and trade just because their ITR is higher.

2. Traders can open an account with multiple brokers and submit the same ITRs and take positions thereby circumventing regulations.

3. Traders may partner with someone whose ITR is higher than theirs and come into a profit-sharing arrangement.

4. Traders may start a company and try to circumvent regulations by accepting capital by way of fresh issuance of shares.

5. Traders may simply get fake ITRs fabricated for the purpose of trading etc.

The possibilities are plenty. We'd have to wait and see the fine print whenever it is made available to us. An important point which I think has been overlooked is that most people in India don't pay much Income taxes. This is a widely known and accepted fact. Thus, by linking the position size of a trader to his overall income, it may severely hinder participation. I highly doubt that traders will start filing for higher taxes just because they can get higher exposure in the F&O market. Anyways, let's wait it out and see. We'll discuss this as it unfolds.

I have closely followed your success story as trader, futures first and then entrepreneurship. After months of backtesting and successfully ending this month in profit I just feel at a lost today.Dreams of becoming a trader is shattered. Might just be my bad luck. Thanks bureaucracy.

 

[naveen_talkin]

It's easy to do but no we don't want to.

i am using NSE now from past 6 years and fyers one from 3 months, I want to say that fyers one is no way near to nse now in terms of order execution and also noticed quote freeze many times. All fancy indicator n scanner are not basic requirements of trading software but what we are missing is execution speed.

 

[Tejas Khoday]

With PAN linked to the trading accounts, fabricating the ITR won't be possible. Also, for the same reason, there shouldn't be any need to submit the ITR to the brokers, can be taken straight from the ITO.

Sounds like over-regulation to me.

What's that about the lot size. If an increase comes, when it is likely to be ?

We don't have clarity at the moment so can't comment on what the method of regulation will be. The thing is, that if customers fill in their income levels in the account opening form, that may not be correct here onwards because everybody will likely overreport their incomes to get F&O exposure and as a broker, we need access to the ITR to verify if it's correct. If we don't have access to the ITR, then how can we impose limits on the client? It's all speculation now. Let's wait it out.