FYERS – Margin Policies

The following write-up gives you our margin policies which will help you out trading equity intraday, equity delivery, F&O and currency on National Stock Exchange (NSE).

Equity Trading:

1. CnC/Delivery – When you take a position & hold the same overnight, it is called as Cash N Carry or a delivery trade. You will need to choose CNC in the buy order entry screen. The settlement for delivery transactions happens on T+2 days. The shares purchased in delivery will reflect in your T1 holdings on the next day and your demat account on T+2 days.

Fyers One - Buy Order (CNC)

2. Intraday/MIS – When you take a position in equity & square off the same in trading hours of the same day, it is known as intraday equity trading. We at Fyers do provide a margin of 10 to 15 times on more than 250 liquid stocks based on market conditions. In an Intraday trade, your positions will be auto squared off at around 3:20 PM.

Intraday buy order window - Fyers One

Futures Trading:

1. Equity (Stock futures & Index futures) – Futures are derivative instruments which allows traders to take overnight leverage of up-to 10 times in the Indian stock market. With intraday positions, traders can avail an even higher leverage. This changes from time to time. It is explained in further detail below. Usually, NIFTY has more leverage than stock futures due to higher volatility. This margin requirement is decided by NSE which is called as SPAN Margin. At Fyers, settle our trades on T+1 day.

Product types:
a. Intraday – Intraday positions taken on 9:15 AM is set for auto squared off by 3:20 PM. Since intraday trades are not carried forward, we provide a higher leverage component. Basically, you can get a leverage of 2.5X of an overnight position for intraday trades. Example: Let’s say you have Rs. 1,00,000 in your trading account, you can only buy 2 lots of Nifty futures since each lot requires Rs. 49,499. However, if you are going to buy with the INTRADAY product type, you can buy 5 lots. Here is a screenshot to help you understand better:

Margin calculator to calculate leverage

Margin calculator showing difference in intraday trading and positional margins

The margin required and the number of lots you can trade with are clearly mentioned in the table above. To trade in futures, you will need to choose the appropriate product type as shown in the screenshot below. Needless to mention, you must do the same in case you are shorting as well. Use our Margin Calculator to get the latest margins required to trade in stock markets. If you need step by step explanation on how to use it, then read our post for more information on margin calculator.

Buy order window Futures - Fyers One

b. Margin – MARGIN product type applies for overnight positions which can be held till expiry of the contract. Margins will be prescribed by the exchanges. For this product type, you must have entire exchange stipulated amount in your account & you can hold the same till expiry.

2. Currency – Currently, SEBI allows trading in only INR pairs (USDINR, EURINR, JPYINR, GBPINR). There has been communication from NSE regarding their cross-currency product launch, but currently there is no deadline provided by them. To learn more about the possibility and details cross currency pair trading, read my recent post on Forex trading in India.

a. Intraday – Get up to 40% of margin benefits for intraday trades. So, positions taken on 9:15 AM are auto squared off by 4:50 PM. You can trade 1 lot with just about Rs. 500 to 600. The intraday product type in currency futures gives you a leverage of 124 times!

Buy order window currency intra day trading

b. Margin – When you select Margin product type, it applies for overnight positions which can be held till expiry of the contract. Margins will be as prescribed by the exchanges known as SPAN margin + Exposure margin. You can track the margin requirements by using our Currency Margin Calculator. Make sure you choose the correct product type to avoid intraday square off.

currency buy order window fyers one

Options Trading: Equity (Stocks & Indices) and Currencies:

a. Option buying – When you buy options (both calls & puts), there is no additional leverage provided. So if you are buying calls or puts of any contract, the premium required to buy them has to be present in your trading account. You can choose either of Intraday or margin product types available from buy order entry screen.

Options Buy Order sample for intraday

All the intraday order will be automatically squared off at 3:20 PM with respect to equities whereas 4:50 PM with respect to currencies. Whereas when you take a Margin position, you had to have total amount of margin requirement in your trading account.

Buy Order for Options for overnight positions

b. Option Shorting/Writing – Margins for shorting an option depends on various factors like volatility, underlying, expiry & more. We at Fyers do provide margins for intraday orders, where you will need only 40% of overnight margin requirement. But these intraday orders will be automatically squared off at the end of the day.

Sell order window on Fyers One futures contracts

Things to remember:

1. For all intraday positions, even though we run square offs automatically, the client should ensure that the same is done with regards to his/her account.
2. Keep track of settlement days. Equity derivatives expire on the last Thursday of every month. The recently introduced Bank Nifty weekly expiry contracts expire on every Thursday.
3. Track stock market holidays on a regular on our Holiday Calendar.
4. Margins will slightly vary for hedge positions. To experience the most efficient way of trading options, I suggest you try out our Options Strategies Lab.

Disclaimer: Fyers Margin Policies can change without prior notice as we dynamically manage risk as per prevailing market conditions and regulatory requirements.

Tejas Khoday

Tejas Khoday

Tejas is the Co-Founder & CEO @ www.fyers.in, the youngest team to get NSE’s broker license. FYERS was started as a mission to enhance the terrain for traders and investors in India. He previously worked at Zerodha, Futures First & has been a professional trader for several years.

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Showing 40 comments
  • Intraday Guru
    Reply

    Although the intraday leverage is great, there are some small brokers which are giving more.

  • Roshan choudhary
    Reply

    Hi Tejas,
    I’m a a new user of Fyers.
    Need to know about delivery margine available with fyers in detail.
    1. Times of exposure allowed on the available cash for delivery.
    2. Rate of interest calculated on delivery exposure and how it is calculated.
    3. interest starts after delivery or after T 1?
    4. At what percentage the exposure gets auto square off in case of loss.

  • Roshan
    Reply

    Hi Tejas,
    I’m a a new user of Fyers.
    Need to know about delivery margine available with fyers in detail.
    1. Times of exposure allowed on the available cash for delivery.
    2. Rate of interest calculated on delivery exposure and how it is calculated.
    3. interest starts after delivery or after T+1?
    4. At what percentage the exposure gets auto square off in case of loss.

  • nilesh
    Reply

    sir I want to know which magazines which are really helpful for stock traders and which they always read?

  • dinesh mohan
    Reply

    where to get the info of intraday margin …list of stocks that u provide margin for intrady trading …any link to that page in your website?

  • AMIT KUMAR PANDEY
    Reply

    sir how can we the check the leverage provided for each scrip?
    i found the u only provide margin calculator for derivatives.

  • AMIT KUMAR PANDEY
    Reply

    sir how can we check the intraday leverage for each scrips?

  • AMIT KUMAR PANDEY
    Reply

    sir sry by mistake i sended the message twice. bcz when i checked my msg after msging you it is not showing my msg.

  • AMIT KUMAR PANDEY
    Reply

    sir how to place a stoploss on POSITIONAL trade?
    i have heard in many news channel asking to place a stoploss on positional trade, But i don’t know how to place stoploss on positional trades.

  • AMIT KUMAR PANDEY
    Reply

    sir how can we place a stoploss for swing trading?
    means if i buy a stock and put a stoploss order , will that STOPLOSS will be effective till i sqareoff for about 10-15 days OR the stoploss will be canceled at the end of the day?

  • Rishi
    Reply

    Does the equity margins remain same or does it change? For example, will i get same leverage for equity intraday for infosys everyday or is it fixed?

  • Lohit Mukherjee
    Reply

    Hi please add equity margins to your margin calculator soon.

  • kalyan dasgupta
    Reply

    fyersone dont have stop loss order in the order column with market and limit as like other trading platform like nest trader and odin.
    done a first step to open an account and some doubt how to place stop loss order eg for a buy order.
    as per my idea after buy order triggered have to press f2 and put a trigger price for sl-m order and for sl-l order also have to place limit price and trigger price both?
    am i correct.
    for such a good software u need to look about stop loss order atleast first. also waiting for ur renovated aeb trader

  • kalyan
    Reply

    in telegram chanel saw that u r giving 5 times margin for equity delivery . is it true?

  • Nirajan kumar shah
    Reply

    Hi tejas!
    I am your new client.
    Your trading platform is great but
    please provide the bse data’s too in fyers one and as soon as possible please allow your clients to trade in bse too.
    I have a great expectaton with fyers one.

  • NandaKumar Jothi
    Reply

    send me the link to calculate equity MIS Margin Levarage calculator, do you provide BO and CO also?

  • Souro
    Reply

    Hello Tejas !

    First of all thanks for Fyers, You are a boon to the retail trading sphere. Congratulations for Fyers Web it’s certainly at per with our expectation if not more.

    I have some queries regarding leverage, suppose you want to hold certain stocks for weeks or months on end is there is any leverage available in this case.

    In case of trading Stock Futures what is the upper limit of leverage that is provided for Intraday (3:20pm Sq Off).

    Can a scanner be provided similar to the New High / New Low scanner which shows stocks which are close to breaking their R1 resistance or their S3 support. Basically a scanner which shows stocks which are within 1% CLOSER to breaking their monthly, weekly resistance or support in live time. (Similar to the one showing within x% of 52 week high low), it would of great help.

    Thank you for the Hotkeys and new Updates, however when we open the admin, orderbook or tradebook the maximized version seems to be of the same proportion as the restored down version, no difference. It would be of assistance if the default size can be reduced( or the ‘restore down’ version can be a small one) for better access to the screen, when trading.

    Thank You content with the experience at Fyers 🙂

  • Amit
    Reply

    What is leverage for option short writing

  • Souro
    Reply

    Hello ! Thanks for the earlier clarifications, eagerly looking forward to new features, as usual! 🙂

    What i intended to say is that, the current Net Position, Tradebook, opens up as Fullscreen ( as the maximized version) but when we press the square box to resize it, it basically remains the same size. So it poses some difficulty in viewing the charts as we have to manually resize it by dragging the corners. Would it be possible to resize the minimized version and restore it to the size as it was previously ( the size before the update), while the maximized version remains the same size ( fullscreen).

    Thanks for being considerate towards your clients. Good luck

  • Tejas Khoday
    Reply

    Hi, yeah some brokers do give more leverage. But there is a level of risk which is optimal for a trader & broker. Beyond that it becomes unsustainable. Overleveraging is not healthy.

  • Tejas Khoday
    Reply

    Hi Roshan, do you have an account with us? please call us on 080-46251111 for more info.

  • Tejas Khoday
    Reply

    Guess you sent the message twice by mistake 🙂

  • Tejas Khoday
    Reply

    Hi Dinesh, we are working on a page to display the list of stocks and margins. It should be up soon.

  • Tejas Khoday
    Reply

    We will need to add that functionality yet. Will do it soon Amit. Thanks for the reminder.

  • Tejas Khoday
    Reply

    You’d have to get in touch with us currently but we’ll upload it soon.

  • Tejas Khoday
    Reply

    Yes we’re coming out with it online soon.

  • Tejas Khoday
    Reply

    I understand.

  • Tejas Khoday
    Reply

    Amit, the best way to place a stop loss for positional trades is by buying options. For example, if you have bought a stock and expect it to go up, then buying an OTM put option makes sense & vice versa (If you are short, then buying an OTM call option makes sense). The other way to do it is by manually placing stop losses everyday. Overnight stop losses (GTC – Good Till Cancelled) are not allowed on Indian exchanges as of now.

  • Tejas Khoday
    Reply

    All stop losses are valid only till the day and will get automatically canceled before 3:30 PM. In order to place a stop loss for more than a day, the ideal solution would be to buy options.
    1. If you are long, then buying OTM put option makes sense as a hedge.
    2. If you are short, then buying OTM call option makes sense as a hedge.

  • Tejas Khoday
    Reply

    Rishi, this is dependent on the volatility and the risk we perceive in the stock. It is subject to change from time to time but not everyday.

  • Tejas Khoday
    Reply

    Will look into this and get this done soon.

  • Tejas Khoday
    Reply

    Yeah, that’s margin funding for equity delivery. You could call us for more information.

  • Tejas Khoday
    Reply

    Hi Kalyan, Yes you can place stop loss order by entering a trigger price in the Sell order window. If you want to place a SL-L then you need a trigger price. For SL-M, you will have to just enter a trigger price.

  • Tejas Khoday
    Reply

    Hi Niranjan, thanks for writing. Yes, we will in the near future. Initially, when we started our business we went ahead with NSE as it has a near monopoly in India.

  • Tejas Khoday
    Reply

    We’re developing that tool. Will be done soon Mr. NandanKumar.

  • Tejas Khoday
    Reply

    Hello Souro, Thanks for acknowledging our efforts and glad you like Fyers Web.

    1. We’re currently not funding delivery trades (Margin Funding). However, if there is enough demand we’ll certainly do it.

    2. For intraday trading in stock futures we give a margin of 2.5 times of what’s required (Margin required is 40% of SPAN + Exposure).

    3. The scanners you’re talking about are already there in Fyers One. We’ll add some extra features soon.

    4. We implemented new hotkeys upon feedback from several clients. Didn’t quite understand what you mean about the restored down version though. Please re-explain.

    Will do more stuff soon 🙂

  • Tejas Khoday
    Reply

    2.5 times for intraday positions.

  • Tejas Khoday
    Reply

    Ah, I understand your query. Well, we’ll take it up in the future. Basically, we got many requests to ensure that these windows open in full screen so we went ahead and did it according to clients’ popular demand. But I get your point, will look into it.

    Hey, it’s our job to be considerate. We’re looking forward to improving the traders’ experience in India by a lot.

  • NandaKumar Jothi
    Reply

    Hi Tejas, Howmany times of leverage you provide for Intraday equity? i cannot find this is in your website at all. please help.

  • Tejas Khoday
    Reply

    Hi, it can go upto 15 times but it depends on each stock and the underlying risk/volatility. Yes, we will soon launch a margin calculator for equity segment. It’s been pending for a while. thanks for the reminder.

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