@Jay37, The rumours are false. I guess they are misinformed. Here's how it works:
- Every order placed on the FYERS system is transmitted to exchanges and the exchange assigns an exchange order ID. This is a confirmation code for reference. As a brokerage, we're like a bridge between the client and exchanges.
- Order slicing happens at the exchange level based on the bid/offers. For instance, if you have placed an order to buy 1000 quantity of any stock, how the order gets executed is determined by the buyers & sellers in the market and not by us.
- Bracket Orders (BO) are designed in such a way that, leg 2 & leg 3 orders are placed upon each partial execution of leg 1. This is to ensure that your open position quantity has an equivalent target & SL orders. Btw, this is the only order type where you get charged for partial execution because of the nature of bracket orders.
- Orders are not matched internally by us. Everything happens at the exchange as India is an order-driven market. Order driven markets drastically reduce the scope of malpractices by brokerages.
I hope this clarifies.