The complaint report from FYERS brokerage provides the details about the number of complaints received by the stock exchange from the customers. The consumer complaint report analyses the online complaint data provided by BSE and NSE. This helps to determine the health of the broker.
Customers files these legal complaints with the stock exchange when the broker is not able to resolve the issues for a long time. The broker report also shows the number of active clients.
Below we have the details of FYERS consumer complaints:
FYERS Consumer Complaints
Exchange
Financial Year
Number of Clients
Total Complaints
BSE
2020-21
491
2
NSE
2020-21
23,846
36
NSE
2019-20
7,099
3
NSE
2019-20
14,189
24
NSE
2018-19
4,805
4
NSE
2017-18
1,827
6
FYERS Complaints at NSE
Particulars
2020-21
2019-20
2019-20
Defaulter Yes/No
No
No
No
No. of clients at the beginning of the year
No. of active clients
23846
7099
14189
No. of complaints received *
36
3
24
Resolved through the exchange
29
2
19
Non actionable **
5
0
0
Advised / Opted for arbitration
0
0
0
Pending for redressal with exchange
2
1
5
No. of arbitration filed by clients
1
Decided by arbitrators in favour of the clients
0
Decided by the arbitrators
0
Pending for redressal with arbitrators
1
% of No. of complaints as against No. of active clients
0.15
0.04
0.16
% of complaints resolved as against complaints received
94.44
66.66
79.16
FYERS Complaints at BSE
Particulars
2020-21
Defaulter Yes/No
No
No. of clients at the beginning of the year
7757
No. of active clients
491
No. of complaints received *
2
Resolved through the exchange
1
Non actionable **
0
Advised / Opted for arbitration
0
Pending for redressal with exchange
1
No. of arbitration filed by clients
0
Decided by arbitrators in favour of the clients
0
Decided by the arbitrators
0
Pending for redressal with arbitrators
0
% of No. of complaints as against No. of active clients
0.41
% of complaints resolved as against complaints received
Derivative contracts which are going to expire in the current month are called ‘Near Month Contracts’, those which expire next month are called ‘Next Month Contracts’ and those which expire after the month are called ‘Far Month Contracts’.
When a customer places an order over the phone through a dealer, Fyers charge an additional ₹20 as Call & Trade Fee. Being an online stock broker, it prefers that the customer uses its online trading platform to execute orders. All trading software including an installable trading terminal, website and mobile application are made available free of charge to customers.
Yes, Fyers allow investors to take Intraday future positions with lesser margin requirements than carry forward future transactions. But it is mandatory to square off such positions on the same day.
IPV (In-Person Verification) is conducted through web camera after either collecting the account opening form or once all necessary documents are received by the FYERS’ executive.
Traders can only nominate one person per mutual fund folio. In case, a client holds more than one folio then different nominees can be appointed for each folio.
It is a facility that enables the investor to carry forward his/her futures positions beyond the expiry of contract. Basically, it’s a two-legged transaction. In the first leg the investor needs to square off the near month position, subsequently in the second leg he/she will have to take a fresh position in the same direction in the next or far month.
Fyers API Bridge is designed for Algo Trading. With this API, clients can develop and execute their trading strategies using their choice of 3rd party trading platform or design their own trading software.
This cycle refers to the period in which the buyer and seller of shares settle their obligation to each other. In India, we follow the T+2 settlement cycle. So, if the transaction takes place on Monday, the settlement will be done on the second trading day, which is Wednesday, if the transaction takes place on Tuesday, the settlement will take place on Thursday, so on and so forth.
Minimum margin is the margin amount that the investor should have allocated towards the open positions. If the minimum margin level is breached, the system will automatically block further funds. In case an investor does not have sufficient funds in his/her account, the position will be squared off.
It charges only for an executed order. So even if an order is executed in 5 different trades then it is considered only 1 executed order and you need to pay only ₹20.