For the past two months I have started trading actively in Fyers. I will share my honest experience about their customer support.
First issue happened in April, I bought 97 LIQUIDBEES out of which 93.545 quantity got delivered to my demat account. 3.455 quantity was not credited to my demat account. They have refunded Rs. 3000 to my ledger. But rest 455 amount equivalent to 0.455 of LIQUIDBEES was never received. I have created a ticket 665672 with my demat statement and ledger. After creating the ticket, more than one month has passed, it was not solved yet. They tried to close the ticket twice marked it as solved without solving the actual problem. Everytime I call them they say their team is working on it. Everything is digital now, I am wondering how long do they need to figure out the details.
Second issue happened this week, I sold pledged shares of RAIN on 06/06/2022 without unpledging. My open position in Option segment had sufficient margin from other collateral. Today (10/06/2022) when I checked my demat account, I found that Fyers have not debited the shares from demat account and it was still pledged. I also checked the ledger to found Rs 34150.50 was debited as a margin block for this transaction. I created a ticket 678407 mentioning all the details. I also talked to their support team during the day. But support team has no idea about how my shortfall of sold shares will be settled now. At first they told me it will not go to auction, it will be settled from my shares from my demat account. Then shortly after that he told me it will go to auction. Normally auction happens at T+3 days. But it was already T+4 days without any settlement. So I asked him about the auction date, he failed to give any answer.
No brokerage platform is perfect. But as a customer I expect customer support to be well informed with all the rules and regulations and to be prepared for situations like these. I felt their support team was not trained properly and too keen to mark the tickets as solved without solving the actual isuue. I don't know when my above problems will be solved But I have lost confidence in Fyers to trade with decent capital. I am also feeling guilty of the fact that I recommended Fyers to some of my friends.