@Tejas Khoday Now, I am fed up with fyers. Daily there happens some issue with your platform what's point providing better feature than other if your platform is not stable enough.
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ORDER PLACEMENT ISSSUE TODAY
ORDER PLACEMENT ISSSUE TODAY
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pls share account closure procedure..
There was an issue at NSE today. It had a marketwide impact as Clearing Members & Trading Members (Brokers) including us faced tech issues. While the majority of intraday positions were closed, some remained open. We'll post updates about this on the notice board.
I don't see any news or notice related to this on nse website or any other place. And I also have account in zerodha ,I din't receive any messege regarding early square off from zerodha , not even anything related to this on there bulletin board. So how do I believe you that every broker is facing this issue.
Outages and issues are part and parcel of every technological company..but trying pass on the blame? Really, you guys lost all my respect
Dear tejas frankly when I opened account with fyers I thought that I will always trade with fyers only but you people have spoiled your image.
I am a big lover of trading view platform. I am having a lot of trouble that I have to close the account with fyers.
Such a irresponsible statement @Tejas Khoday . Atleast you guys learn to accept your mistakes, always blaming others.
Please share proof of compliant to NSE, no other broker has faced the said issue. DON'T LIE.
No one responding emails, no one picking calls, notice board is as clueless and vague as CEO. After 3:30 my positions are getting changed and loss is increasing like hell. Please compensate at the earliest.
DD00721. Support ticket has been raised 100 times
Hey Guys, I totally understand your frustration but the issue was indeed caused by an erroneous order cancellation by NSE. You can read more about it in this article. Well, we are just trying to keep you informed.
@Koti y, Not trying to pass the blame. It's the truth. Our RMS got compromised as NSE canceled pending orders without any prior intimation or valid reason.
@Tejas Khoday In that who is responsible for the reverse trade and the losses from this glitch? I have already submitted a complaint against this issue and requested my initial fund.
@Brainandmoney, In the last 5 years, our platform has been robust while many large broking platforms failed on mega-event days such as Brexit, Demonetization, Crude OIl debacle, Coronavirus market crash, lockdown phase that plagued brokers systems, etc. It's always been a first priority to provide a stable trading environment to clients. What happened on 21st was precipitated by NSE's erroneous order cancellation that sent RMS into a tailspin as the platforms went into a hang state. This is not an excuse! We could have done better to avoid failures but judging us by just one event may give you the wrong impression about us.
@Tejas Khoday one more query - how the trade reversed from buy to short which requires a huge margin and you have deducted 1% penalty the next day from my trading account around 29,000. when I put a buy order 30600PE @ 365, from that to next day morning all trades are controlled by your RMS team and my account showing -29000 from 4.3 Lakh.
there was a glitch due to which pending orders were canceled. But there was no glitch that did not allow existing positions to be squared off. I was able to square off my existing position manually in other brokers However your initial blame was that exchange isn't allowing squaring off of existing position, which is totally a lie. And now you are trying to hide behind a totally irrelevant news. SHAME
my position book is showing random positions, with many positions which I have not taken, and it's showing huge losses in those. I will file a case and recover every single penny from you guys
Don't blame your company's mistake on exchange and think we are fools. I trade in other brokers also. All fno orders were going through, both existing as well as new. Even my friends faced no problem's with other brokers. It was your company's technology issue. Which led to a hell lot of loss for me. and even as of now i am unclear about my net positions and fund balance. Kindly tell us the procedure for account closing
@Vivek agrawal, Please read this article. We squared off open positions on the 22nd as soon as markets opened. We're not blaming the exchange but merely informing you that it was caused by their erroneous order cancellation that impacted our RMS on that day.
As a matter of fact only FYERS is affected and blaming it on NSE. Fund position and PL still changing after 3:30, these guys are gonna get sued. Close my account immediately and refund losses
I understand how annoyed you are. Please read this article. We're not blaming the exchange but merely informing you that it was caused by their erroneous order cancellation that impacted our RMS on that day. Fund positions were changing as transit orders and orders placed during outage were getting placed so that they can be reconciled. This is not a justification. We acknowledge that there was an issue at our end and we've done our best to resolve it at the earilest. While majority of the positions got squared off, few of them were left open and were subsequantly squared off on the next day as soon as the market opened.
Simply go with Zerodha at least these guys take responsibility and respond timely. recently I have switched from zerodha to fyers because of trading view love but now I realize that I made a big mistake.
My dear Tejas can I close my account through online????
exactly same here. plus the greed of brokerage refund. i switched from Zerodha to fyers 1 month back. and today i have suffered huge losses due to them. they are constantly changing my positions since 3:30
I support you.. Please reach out to me @ 9900474944. And Let me know what actions you are taking.
Your decision to switch from any broker to us is a good one. This issue was a one-off occurrence and has never been of this magnitude. Be rest assured that we have your best interests in mind and we'll make sure that if any issues happen in the future, we'll resolve them at the fastest TAT.
again do not lie that this was one off! how many lies. i went to you notice board and observed that intraday orders didn't get squared off in past also many time. in last 3 months only i could see more than 2 instances on your notice board. in fact saw on community post that due to a fault of yours, customers had to pay margin shortfall. What more, my email queries from support aren't answered too. disgusting.
@Raviprasad Nayak Let us actually take the matter with sebi and consumer court, Let us all form a group and give a complaint in writing to sebi. Since there will be many of us, we can follow up with sebi and consumer court.
Sure @Vivek agrawal
We've done our best to resolve the issue that occurred. We also communicated that penalties & other charges will not be levied. We've been posting notices to keep you updated and the support team also tried reaching all clients on phone on that very night before 12 AM to keep you updated about the action that we were going to initiate the next day as soon as the market opens. It was all done to minimize the damage for those who had a negative P&L impact. We followed through with the action as planned.
As an intermediary, we are also exposed to risks that are out of our control and 21st was one such case. Fortunately, the majority of clients that faced issues actually ended up in handsome profits and others lost. We neither take ownership of profits earned by clients or losses incurred by accident.
@Tejas Khoday I still don't understand how this issue is related to my buy trade of 1000 quantity reversed and shorted 2500 quantity(which requires a high margin of more than my capital) and you guys squared off at the peak high at a total loss of more than my entire capital(4.3Lakh). As per your trade statement my buy order 30600 PE executed @ 365 and it went to high 1600.
But, I'm seeing the trading account from 4.3 lakh to -29000. instead, I should see a profit of 15Lakh on that day.
Fyers must have illegally posted their own positon in ur account since they were in the loss by selling puts
I never short in options also I didn't have enough margin to do so, but terminal shows i'm in -4L.
When I called the support around 3PM IST (as i could not access the app/site) they told me I was having 2 intraday and one margin BNF PE positions. I never do intraday but support engineer told me he cannot close my position as Exchange is having an issue. Now it shows I have 3 short BNF PE positions and 1 buy BNF PE. My profit supposed to be around 2L.
If this is not fixed tomorrow, I will never come back to Fyers.
Other note, none of the other brokers had any issues today. It's only Fyers, we understand it happens but you must own it up and take the responsibility to fix the mess.
anyone care to respond???????
there are two short positions in my account which i never did, also it shows you have deducted 1% penalty for short of margin, this is getting ridiculous.
I'm reaching coz it's the same case with me. I will try to post a complaint with SEBI.
@Kotteeswaran Rajendran, Internet trading has risks and P&L implications if and when the platform goes down. As you know by now, we have taken several measures to contain the risk and resolve the issue at the earliest. This is a one-off and we'll make sure that the next time onwards we'll have a much faster TAT. Btw, other brokers also did have issues. For more information, you can read this. I'm not saying all brokers faced the same issue but essentially RMS was compromised for some clients as a result of the erroneous order cancellation by NSE. We will of course work on more ways to prevent such things from happening in the future. Be rest assured that we have your best interests in mind.
@Kotteeswaran Rajendran, Check this notice. Clients will not be charged penalties on margin shortfall and peak margins. We've also waived off Call & Trade charges on 21st Dec.
Now they will not reply ....##hiding behind NSE# #
Nope, I'm here to take it on the chin, as usual. We were busy working on the resolution while I was away from the community.
At around 12 pm yesterday(12/21/2020) I bought BankNifty 30600 PE at 369 (quantity 1000). I’m not sure if the trade was executed or not as it showed ‘working’ in the status. I tried to cancel the order but it showed some error. My fund before the trade was 4.3L.
I never go for a short position in options but now it's showing 450 quantity is shorted in BN Option for the same strike.
Margin used: 33 Lakh whereas my fund was only 4 Lakh. Net PNL: -3.9 Lakh.
Same issue with me.Bought 30400pe yesterday now it is showing short position.
Do raise a support ticket for clarification.
@Raviprasad Nayak, Do raise a support ticket for further clarifications. You will get a reply with the details and resolution soon. Thx
@Tejas Khoday I have already submitted a lot of tickets. One of the major is #9223357. I would expect a clear explanation.
Hadd ho gyi h Fyers ki, Not a single person from fyers team responded to this discussion, face dikhane layak nhi rah gye h ye log jhoot bol bol k. @FYERS @Tejas Khoday
Here we go again! I was hands-on with the resolution and was busy with that stuff. As soon as I got some free time, I'm back to address queries.
At least apologize @Tejas Khoday
friends any one getting the same error on today trading session ?????