FYERS

[anildnr]

Hello @anildnr, Sure, you are welcome to open an account with us. Do leave your details with us and our team will get back to you in 24 working hours.

1. Yes, we do give higher leverages than many brokerages. We don't yet have a margin calculator for options but basically, we give margins similar to futures contracts. We will come up with an update on the margin calculators in the future. Basically, we give 4x leverage for intraday options sellers for all derivative contracts including Nifty & Bank Nifty.

2. No, we don't provide extra leverage for weekly Bank Nifty options on expiry. Moreover, it is not feasible at ₹20/- per executed order as it increases our risk exposure and also there is a cost of financing involved.

Hi tejas..regarding 2nd answer..not providing leverage for weekly options on expiry u mean on expiry day? If yes i am referring to weekly bn options not only on expiry days...normal days as well

 

[onequorauser]

A lot of spurious data seems to be appearing on the web platform. An off instance could be understandable but the number of instances when this happens has increased significantly in the recent past. You can see an example below.

It is not always possible to reload the page in the middle of multiple a trades.

Today morning I could not see anything in adaniports except for the last bar or so. For the record, it not just restricted to me, there are others who are having a similar problem as well.

 

[kharikumaar]

@Tejas Khoday , like certain observations above i was checking the fyers web and had some trouble loading the market watch as the scrips were not showing. after several attempts i gave up on one or two like LT futures etc., subsequently when i was checking the charts from these a few of the charts did not show saying Invalid scrip or something like that, this happened with scrips like PVR, Bajajfin etc. and quite a few times when i invoke the chart the screen will just hand for 5-7 seconds before the chart loads.
all these shouldnt be happening.

 

[Newbie Day-Trader]

A lot of spurious data seems to be appearing on the web platform. An off instance could be understandable but the number of instances when this happens has increased significantly in the recent past. You can see an example below.

It is not always possible to reload the page in the middle of multiple a trades.

Today morning I could not see anything in adaniports except for the last bar or so. For the record, it not just restricted to me, there are others who are having a similar problem as well.


View attachment 26118

First thing in the morning, & this was AFTER reloading the page. I always reload FyersWeb 5-10 minutes before the market opens & this is the first time I noticed this issue. Nest charts & TWS charts were working fine in the meanwhile so it wasn't something related to my Internet connection.

 

[Tejas Khoday]

Hi tejas..regarding 2nd answer..not providing leverage for weekly options on expiry u mean on expiry day? If yes i am referring to weekly bn options not only on expiry days...normal days as well

Hi @anildnr , Yes, on normal days we provide 4x leverage on weekly Bank Nifty options. This includes expiry day too. I thought you were looking for leverage over and above that limit & that's not feasible.

 

[Tejas Khoday]

@Tejas Khoday why don't you acquire some small brokerages which are already having an existing team and merge them into yours? Wouldn't that save your time and efforts than training new joinees?

@rahulsharma17, From an operational perspective, acquiring brokerages doesn't make any sense. The staff of existing brokerages are used to a different work culture from ours and that really impacts our overall performance as a unit. A business is like a family, in some sense. Integrations between 2 families are not as smooth as one imagines. Also, it is a well-known fact that brokerages are riddled with legacy issues which are more hard to untangle than onboarding those clients separately and going the extra distance to build the business organically. All that being said, we are a startup (Albeit, financially stable). Mergers & Acquisitions is for companies which have attained a size & scale from which it is best to grow inorganically. Hope this clarifies.

 

[Gopinath Munde]

Latest Update on MCX - Turn of events are as follows.

1. Finally, 1 out of the 2 leased lines has been commissioned to our dedicated servers in the data center.

2. Once the line has been commissioned, dedicated cabling needs to be done within the data center to reach our dedicated servers.

3. The funny thing is, the router needs to procured as per MCX guidelines from a third party vendor.

4. Once that's done, MCX will provide preliminary configurations to be done on the router which has to be done by the software provider (In this case, since we are an in-house technology platform, we have to take care of this entire lengthy procedure by ourselves).

5. After the preliminary configurations are done from our end, MCX will do all the rest of the configurations in their standard turnaround time on which we have no control of.

6. Once the configuration has been finally completed, MCX will rigorously test the connectivity and uptime.

7. After the above testing has been successfully completed, the control of the router and connectivity will be handed over to the service provider (Telcoms) for management. At this stage, is when the links become usable.

8. The above steps are just for 1 leased line. The same has to be repeated for the backup lines. Considering that both are not provided by the Telcoms at the same time, the entire procedure has to be repeated separately as per the service provider's timelines and the exchange's protocol.

9. Once both the lines have been successfully commissioned by the different Telcoms, there is additional configuration to be done so that auto-failover of the links is enabled.

10. Since all our technology is in-house, we need to get our applications separately certified by the exchange which can begin only after Step No. 7 (Point 7). This is not applicable for other brokers who are conveniently using empaneled software vendors products like Omnesys (NEST) & 63 Moons (ODIN).

We are on the job and our tech team is working overtime to get this through with! Hope this gives you a perspective.

Oh! no. I can't wait for that long Mr. Tejas. Opening my account with Zerodha for now. But I promise to come back to FYERS once MCX is introduced. My best wishes are with you.

 

[ragsid]

@Tejas Khoday

Not sure if you received/checked my DM/PM, hence trying here:

While I was going through this thread - http://www.traderji.com/community/threads/fyers.105097/ I read somewhere in this thread demo account (I understand Opening a trading only account, then account opening and AMC are free?) for some time is possible. Could you please let me know, how can I get the Demo access?

Also, Couple of Q's:
1. Do you give margin against MF holdings etc for trading in Futures/sell options and for Intraday stocks?

2. I was going thru' FAQs https://fyers.in/faqs/ and saw this:
When is IPV done?
Either upon collecting the account opening forms directly from you or once the necessary documents have been received, our executive will conduct the IPV through the web camera.
Q: The collection of account opening forms directly is in Bangalore only?

3. You have mentioned you guys need to improve the backoffice, I know its early to ask this but very relevant. In backoffice do you provide the FY end PnL which is easy to file returns?

Cheers!

 

[Tejas Khoday]

Oh! no. I can't wait for that long Mr. Tejas. Opening my account with Zerodha for now. But I promise to come back to FYERS once MCX is introduced. My best wishes are with you.

@Gopinath Munde, We are currently haflway through the process. Will keep everyone informed. Just make sure you leave your details with us in the open an account page just so that your email is registered with us. I will mail you when we launch MCX. Thank you for your wishes and goodnight.

 

[Tejas Khoday]

@onequorauser , @Newbie Day-Trader & @kharikumaar , I will reply to your posts during working hours in the day time after bouncing your messages with the tech team.