FYERS

[Tejas Khoday]

@FYERS_Team What is the problem with Fyers Support Team, They Do not do the work what they are supposed to do.

First Fyers Support Team does not respond then we have keep on reminding and Why you write them and send them the coorect data, then they will send you and email that we have not sent the required data, without doing their homework means checking their inbox first. Pathetic. (#2827144, #9942395)

Hi @shabbirhasan,

The support executives have replied that your POA has been rejected due to the following reasons:

1) Witness to be entered.
2) DP ID is entered incorrectly.

My team has given me feedback that they have already communicated with you today to make the necessary changes and re-submit it. Please note that what you sent us was not correct as you have claimed in the message. We have done our homework to the best of my knowledge and feedback that I have received. We look forward to having you onboard soon.

Tx.

 

[Traderjeet1]

We undertake immense technology costs as a percentage of our revenues to give you a good experience. Yes, I am very well aware of the fact that there are other discount brokers in the market and that you are free to choose. Despite that, we introduced a bare minimum fee for a reason. This will ultimately benefit you and all other clients in the long-run. Let's say for testing you buy and sell 1 share of 100 rupees. Without a minimum brokerage, your brokerage will be 3 paise on each side and 6 paise on the whole. Let's say you do this a couple of times for testing. Did you know that the cost of sending you the contract note alone is higher than the brokerage in such cases? This is not including the various other costs that we incur as I don't even want to get into those details. This is just to give you a perspective. To continue to be able to invest in technology and resources to give you a good experience, the fees have to justify the expenditures, right?

Anyways, let's not forget that we give up to ₹10,000 as brokerage refunds to clients that win the FYERS 30 Day Challenge. Why don't you attempt to win and earn back all the brokerage that you incurred? We're the only ones in the market to encourage profitability by putting our own revenues at stake. Think about it! One has to be rational at the end of the day.

Happy Trading!

Dear Tejas sir, kindly address my post regarding api users and the challenge.
I used it because although TV and One are very good i have charting tool and data vendor so running those two apps is cpu/data intensive for no purpose.
i punch only a couple of orders a day (max brokerage generating ones), i'm not a huge algo, but the api is more convenient.
apart from them some small trades which are not viable.

 

[shabbirhasan]

Hi @shabbirhasan,

The support executives have replied that your POA has been rejected due to the following reasons:

1) Witness to be entered.
2) DP ID is entered incorrectly.

My team has given me feedback that they have already communicated with you today to make the necessary changes and re-submit it. Please note that what you sent us was not correct as you have claimed in the message. We have done our homework to the best of my knowledge and feedback that I have received. We look forward to having you onboard soon.

Tx.

Thanks @Tejas Khoday, Indeed i had been contacted by Fyers Representative Early Morning, And i have send them the revised modified version of POA as well. Thank you for your prompt response and actions.

 

[kaly422000]

We undertake immense technology costs as a percentage of our revenues to give you a good experience. Yes, I am very well aware of the fact that there are other discount brokers in the market and that you are free to choose. Despite that, we introduced a bare minimum fee for a reason. This will ultimately benefit you and all other clients in the long-run. Let's say for testing you buy and sell 1 share of 100 rupees. Without a minimum brokerage, your brokerage will be 3 paise on each side and 6 paise on the whole. Let's say you do this a couple of times for testing. Did you know that the cost of sending you the contract note alone is higher than the brokerage in such cases? This is not including the various other costs that we incur as I don't even want to get into those details. This is just to give you a perspective. To continue to be able to invest in technology and resources to give you a good experience, the fees have to justify the expenditures, right?

Anyways, let's not forget that we give up to ₹10,000 as brokerage refunds to clients that win the FYERS 30 Day Challenge. Why don't you attempt to win and earn back all the brokerage that you incurred? We're the only ones in the market to encourage profitability by putting our own revenues at stake. Think about it! One has to be rational at the end of the day.

Happy Trading!

any way ur company can consider raising a brokarage for delivery trade . o brokarage is not sustainable also. any way contact note cost u can charge as like many broker and that may be .05 to .1 percent as charged in case of delivery brokrage. as i am talking of this minimum brokarage as i prefer the dartstock u r giving ,though web interface has syill to improve ,more over trading view type buy/sell interface is not so ok

 

[suchandra]

We undertake immense technology costs as a percentage of our revenues to give you a good experience. Yes, I am very well aware of the fact that there are other discount brokers in the market and that you are free to choose. Despite that, we introduced a bare minimum fee for a reason. This will ultimately benefit you and all other clients in the long-run. Let's say for testing you buy and sell 1 share of 100 rupees. Without a minimum brokerage, your brokerage will be 3 paise on each side and 6 paise on the whole. Let's say you do this a couple of times for testing. Did you know that the cost of sending you the contract note alone is higher than the brokerage in such cases? This is not including the various other costs that we incur as I don't even want to get into those details. This is just to give you a perspective. To continue to be able to invest in technology and resources to give you a good experience, the fees have to justify the expenditures, right?

Anyways, let's not forget that we give up to ₹10,000 as brokerage refunds to clients that win the FYERS 30 Day Challenge. Why don't you attempt to win and earn back all the brokerage that you incurred? We're the only ones in the market to encourage profitability by putting our own revenues at stake. Think about it! One has to be rational at the end of the day.

Happy Trading!

Let me give you an example of what I have been actually facing since last two trading sessions:

1. Suppose I place a Bracket Order for 200 shares of Rs.100 each.
2. When executing, it is split into 20 non-equal lots and gets filled.
3. These 20 lots are assigned 20 different Order Numbers.
4. After executing the second leg, I have been charged Rs.7 x 20 towards Brokerage.

Please do not tell me that I will be able to win 30-day-challenge after paying such exorbitant Brokerage.

Whoever designed this revised scheme, his intention is very clear, i.e., to exclude small intraday traders from your domain.

Hope you will look into the problem of small traders and withdraw this Rs.7 minimum brokerage.
Looking forward to a favorable action from you so that I can continue trading on your lovely platform.

Regards.

 

[Tejas Khoday]

Dear Tejas sir, kindly address my post regarding api users and the challenge.
I used it because although TV and One are very good i have charting tool and data vendor so running those two apps is cpu/data intensive for no purpose.
i punch only a couple of orders a day (max brokerage generating ones), i'm not a huge algo, but the api is more convenient.
apart from them some small trades which are not viable.

Hi @Traderjeet1,

Currently, those who are using APIs can create & delete apps whenever they want so there is no tracking mechanism to enable/disable the 30 Day Challenge simultaneously depending on whether or not the client is using APIs. However, we have taken note of the same and will implement this feature in the future.

Thanks for your feedback.

 

[Tejas Khoday]

Thanks @Tejas Khoday, Indeed i had been contacted by Fyers Representative Early Morning, And i have send them the revised modified version of POA as well. Thank you for your prompt response and actions.

Thanks for choosing FYERS. Welcome aboard!

 

[Tejas Khoday]

Let me give you an example of what I have been actually facing since last two trading sessions:

1. Suppose I place a Bracket Order for 200 shares of Rs.100 each.
2. When executing, it is split into 20 non-equal lots and gets filled.
3. These 20 lots are assigned 20 different Order Numbers.
4. After executing the second leg, I have been charged Rs.7 x 20 towards Brokerage.

Please do not tell me that I will be able to win 30-day-challenge after paying such exorbitant Brokerage.

Whoever designed this revised scheme, his intention is very clear, i.e., to exclude small intraday traders from your domain.

Hope you will look into the problem of small traders and withdraw this Rs.7 minimum brokerage.
Looking forward to a favorable action from you so that I can continue trading on your lovely platform.

Regards.

Hello @suchandra, Thanks for writing.

Please note that if you have placed an order for a value of ₹20,000/-, you probably have used ₹2,000-3,000 of your capital assuming that the stock which you're trading in has a leverage of 7-10x, Please note that to be profitable in trading or to make your efforts worthwhile, you must trade with an amount of money that makes sense. I understand a few trades can be of small value but if you think you are going to sustain in trading, such a small capital will do more harm than good in the long-run. Just my 2 cents. At the end of the day, it is completely up to you.

I am not against you or any other traders trading with smalls sum of capital. In fact, we don't differentiate between big & small traders at FYERS and provide the same services regardless of how much revenues we receive from each client. I am just clarifying that we undertake immense efforts and costs to give you a good trading experience. We are now expanding our IT infrastructure to help make the platform more robust. At the end of the day, our ability to provide a good experience depends on us being revenue positive. Trading with a very small capital is good for testing purposes only and if you are putting invaluable hours of your energy into trading, please consider trading slightly more capital per trade to justify the costs. This is for your own good. Since we have already defined an upper cap of ₹20 per executed order, we have no vested if you trade with a bigger capital as we will continue to make only 20 rupees.

Yes, if you win the 30 Day Challenge, we will refund your brokerage. Since all traders aim to be profitable and that's the most obvious goal, you must be happy that I am openly offering a brokerage refund. No other brokerage in India will give you back a penny of what is earned from you. You can check with others or go through some threads on Traderji. We have refunded crazy amounts and there are numerous clients that have been trading for free with us since inception because they keep winning every single time.

All the best!

 

[backbench]

Sir,
If I place buy order for 100 shares of Grasim @ 500 for intraday and say I get it in 10 parts.Same way over selling in single order I get it sold in 10 parts.What is the brokerage will you charge for these trades?Please clarify.

 

[soft_trader]

@FYERS_Team @Tejas Khoday do you have clearing charge? It is not clearly mentioned in the brokerage calculator. If yes, what is the clearing charge?

Also, in your brokerage calculator currency stamp duty for west bengal is 0.000% so are you not charging any stamp duty or is it a mistake?

What are the intraday margin you are providing 'currently'?