FYERS

[Fyers Tech]

Hi @Newbie Day-Trader, @kharikumaar, @onequorauser,

So we have multiple databases where we store the historical data to ensure redundancies. In the last couple of days, we have observed one of these databases seemed to be malfunctioning in random spurts.

So whenever that happened, some of the following requests were not being serviced properly:
1. History
2. Search
We have identified the issue after scrutiny and we would be discarding this database and replacing it with another without impacting the data.

 

[Fyers Tech]

@onequorauser,

For every order request which is sent from the application to the server, the server responds with an acknowledgment that the order has been received. In your case, the orders were placed but the front end did not receive any acknowledgment and hence the order pop-up was displayed saying that there was an error. Since you tried to place the order again, the order was again sent to the server. Your orders were received in the order logging queue and were successfully placed but there was an error with the response time which was why the pop-up was displayed.

We are moving a fix for this issue by end of today so this issue should not repeat again.

 

[Tejas Khoday]

I meant for trade in F&O only ...intraday purpose

So far, opening a trading account is not an issue at all because all the contracts are cash settled. But starting July series, physical delivery of derivatives contracts will begin in such circumstances, one cannot do without a demat account. Since you are only going to trade on an intraday basis in the F&O segment, you can open a trading account only. However, we might be forced to change our policies according to the regulator environment. This is for your information.

 

[Tejas Khoday]

@Tejas Khoday

I already have Demat account with ILFS through another broker, if I link that existing ILFS demat, will I be able to:

1. Trade in EQ intraday?
2. Take delivery?
3. Sell from from my holdings in ILFS demat as well through Fyers?

If you already have a demat account with IL&FS, you can change the POA to us.

1. Yes, you can trade in EQ intraday.

2. Yes, you can take delivery.

3. Yes, you can sell from your IL&FS demat (As long as the POA is held with us).

 

[Tejas Khoday]

I just received a notification from Traderji Team for a Trophy of participation and apparently, I'm Addicted to the forum. Good stuff!

 

[ragsid]

If you already have a demat account with IL&FS, you can change the POA to us.

3. Yes, you can sell from your IL&FS demat (As long as the POA is held with us).

@Tejas Khoday

How do I change the POA to you guys? I understand I need to give CMR for mapping, but to give POA, how do I do that?

 

[ragsid]

3. Currently, our Back-office provides FY returns. You can share the P&L statement with your Chartered Accountant to help you file returns. In the alternative, you can also file returns through ClearTax. We are tied up with them to provide you easy tax filing services. You can use this link. We don't make any money out of this and don't have any vested interests in promoting ClearTax.

@Tejas Khoday

I have not seen the P&L statement (FY returns) from Fyers, but if you guys could generate the year end P&L like Zerodha does (they call it as TaxP&L), would be really great. Which basically has all segments you traded in for the FY:

1. Under EQ, you have:
a) EQ intraday P&L calculated, turnover for EQ intraday and the total charges (brokerage, STT, exchng, etc)
b) EQ ST (holding <1 year) P&L Calculated, Turnover for the same and Total changes
c) EQ LT, same as above P&L calculated, etc.

2. Under derivatives you have:
a) Futures P&L, turnover calculated for futures, and the total charges (brokerage, STT etc)
b) Options P&L, turnover calculated for options and charges

3. Same with currency F/O

4. Same with commodities F/O

I am not lazy to calculate, but this helps a lot, especially EQ if you have to separate intraday and ST and LT.

I understand there are easy tax filing services (online and offline), but most of these people hand over calculations/statements to CA aspirants (happens more with online ones), who do not do a good (some do good job, but we dont know who is handling and have to be lucky ) job and have to be corrected (then I can calculate myself ).

Basically it generates one excel file with different sheets (one for each segment) and the turnover calculations are as per 44AD for each product/segment/instrument.

As you guys have all the above details with you in the backoffice, would be good if you could generate them at the click of a button for the FY selected (if you guys are doing it already, in that case ignore everything above ).

 

[Gopinath Munde]

@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.

Changed my mind. I'm opeing account with FYERS. This way I will be able to get fimiliar with the platform before I start trading in commodities. I'll trade in the cash market to get a hang of FYERS Web. Also, when I called your representative, he told me that once MCX is introduced, I won't have to courier the MCX form again. A simple consent letter will be enough. Signing the forms now.

 

[Tejas Khoday]

@Tejas Khoday

How do I change the POA to you guys? I understand I need to give CMR for mapping, but to give POA, how do I do that?

The requirements are as follows:

1. POA Revocation Letter from Client
2. NOC Letter from Broker
3. FYERS Rate Sheet
4. FYERS Power Of Attorney (POA)
5. FATCA
6. CKYC along with Pan card and address proof with self attest
7. NACH along with Bank proof
8. Change of Address along with Pan card and address proof with self attest
(If address changes)

9. Change of Bank details
(If bank details changes)

10. Change of Mobile no and Email id Updation form
11. Demat out standing amount
( if any)

12. Rs 150/ Franking and Notary Charges
13. Kra modification required

As you can see, it's quite a cumbersome procedure and hence most people just open a new account. All these hassles will be resolved once we become a member of the depository ourselves.

 

[bluewolf]

Is Fyers Web server down? am not able to see any price chart just one candle. did hard refresh on both chrome and Firefox, but nothing's working. please check @Tejas Khoday .