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Bangalore based stock trading platform FYERS on Thursday announced the launch of the ‘Single margin account’ feature for the customers.
FYERS in its issued statement said, “The Single Margin account will allow traders to trade across all the segments while maintaining funds in a single account, hence empowering customers to capitalize on opportunities, instantly.”
“Moreover, the Single Margin account will eliminate the possibility of delays in funds transfer from commodity to capital segments, and vice versa. In this process, customers will not have to incur additional fund transfer charges between segments, by deploying capital from a signal account,” The statement added.
Commenting on the launch, Tejas Khoday, CEO and Co-Founder, FYERS, said, “To ensure that our customers have the flexibility to leverage opportunities, instantaneously, we have introduced the Single Margin Account at FYERS. We want to simplify the trading experience for the community, by allowing our traders to instantly invest in the right opportunities, as they see fit, without having to worry about fund transfers delaying the process and incurring additional transfer charges, for the same.”
“This move will ease the trading process, will and allow fund deployments from a single account for trading across segments,” Tejas added.
“For existing customers, who have funds in both capital and commodity segments, the single margin account will reflect the combined funds across the two segments, without bifurcation. While the procedure to add funds will remain the same, only one account will be displayed instead of separate capital and commodity segments. FYERS is one of the few brokerages in India to have enabled this offering,” it added.