Back
28 Jun, 2023
4 mins read
Rajesh has always had a strong inclination toward stock markets. He has been a perpetual trader for a long time and knows much about trading from a nascent stage of his life. He had mastered the art of intraday trading and placed orders seamlessly through desktop trading platforms.
Now, you might be wondering why he was fond of desktop trading platforms?
Well, Rajesh started trading 10 years ago in 2013. He is accustomed to using EXE terminals that are well-known for their fast order placement functionality and hotkeys (F1 to Buy, F2 to Sell, F3 to check order status, F11 for positions, etc.). Although he is aware that web and mobile platforms offer trading, he prefers using the EXE terminal because he believes these features add value to jobbing and intraday scalping for his discretionary trading style.
He has been using NEST trader, a well-known platform that is used widely by brokers across the board. However, he expects more in terms of latency and other value-added services which may or may not be available with other brokers.
Much to the delight of Rajesh and many others like him, we've launched FYERS Next, a powerful and efficient desktop trading platform. NEXT helps traders invest in equity, futures, options, commodities, and currency across India's major exchanges (NSE, BSE, MCX). Moreover, the platform has a wide range of features that is best suitable to customize the trading experience.
So, now Rajesh and traders like him can take advantage of a robust and stable trading platform and execute trades quickly.
With the platform, you can track the trends across multiple exchanges (NSE, BSE, NFO, MCX, CDX). Bid Price, Ask Price, LTP (Last traded value), % change, and other details are readily available over the platform. Moreover, you can easily customize watchlist with columns for scrips across all the exchanges and symbols.
Access to vital information at the eyeshot will help you make well-informed trading decisions and trade effectively and efficiently.
You can find a pre-defined watchlist under the tab 'Groups'. There are varied pre-defined watchlists categorized under NIFTY 100, NIFTY50, NIFTYAUTO, NIFTY ENERGY, NIFTYFINANCE, and more. The pre-defined watchlists are created on the basis of some specific criteria that align with the trader's interest and strategy and saves a lot of time and effort in the research process.
The platform has real-time widgets that generate price alerts, script alert, triggers, quotes, etc. This feature will help you stay ahead of the curve and stay in control of your trades.
The platform provides an opportunity to use shortcut keys, thereby making the platform efficient, effective, and easy to use. For instance, for placing a basket order(CTRL+B), Market Depth(SHIFT+V), and Report Generator (CTRL+SHIFT+R). You can access varied Shortcut keys by clicking the 'HELP' tab. For more details, click here.
FYERS Next also has an exciting feature of an options calculator, which enables you to compute Options Greeks like Theta, Gamma, Delta, Vega, and Rho. The platform helps compute the options' theoretical price and implied volatility. This feature is increasingly useful to traders as it helps to get a deeper and more insightful view to create option strategies.
For example, if you decide to trade in options and place an order in NIFTY at a particular strike price. You can easily draw an understanding about the Option Greeks and plan your strategy. Have a look at FYERS Next Options Calculator.`0
As a trader, you can take the positions by seeing the Options Greeks value in the calculator. For instance, a trader can take the position on the basis of delta value, representing the probability of the strike price becoming ITM (In the money).
FYERS Next provides a 360-degree analysis of stocks using a snap quote, market depth, etc. This feature helps you get a comprehensive view of the market and aid in making informed trading decisions.
As a trader, you can swiftly place orders in desired stocks and save time and effort using the FYERS Next platform. The speed and efficiency of the platform empower you to place orders in real-time and capitalize on market opportunities as and when they arise.
With the basket order feature incorporated in FYERS Next, you can easily place multiple orders for different securities in just one click. Basket Order placement predominantly saves time by eliminating the need to place separate orders for each Security.
This is an interesting feature to help traders that allows to convert a large amount of trading data into the excel format in real time. You can immediately analyze the data using various tools, understand market trends and patterns, and make an informed decision.
Heat Map displays the performance of your watchlist or other predefined watchlists in a card view, with different colors (Green or Red) and percentage changes in value arranged in an ascending or descending order or in a grid view showing green/red arrows for the increase/decrease in the value. It will help you know immediately which stocks are performing well or underperforming, and you can make the changes accordingly.
A series of stocks sometimes make it difficult to pay attention to stocks that are relevant. So this is the feature wherein you can easily filter out the stocks based on the specified criteria. Like for instance, you can choose equal to, greater than, less than, begins with, ends with, or more options to filter the stocks. You can see the screenshot of the same below.
Before trading through the Desktop Trading Platform, you must open the FYERS Demat account. Post account opening, follow these steps to install the FYERS Next trading platform successfully.
Here’s a comparative analysis of FYERS Next with Nest Trader.
|
Criteria |
FYERS Next |
Nest Trader |
|
Latency |
Order execution is ten times faster than other desktop trading platforms.Typically, on Next platform, it takes less than 50ms to place an order. |
It is comparatively slower than the FYERS Next. |
|
User Experience |
The platform is an improvised version of Nest Trader. It is well-designed and easy to use from the traders' standpoint. |
The platform is optimized for core trading capabilities, but the platform has the scope for improvement to enhance the overall user experience. |
|
Passwordless Authentication |
FYERS Next has enabled two-factor authentication and enhanced the level of security. |
Passwordless authentication is not available on this platform. |
|
Similar login credentials |
Fyers Next and Web have similar login credentials. |
There is separate login for web and desktop trading platform. |
|
GTT(Good Till Trigger) Orders |
You can place GTT orders from this platform. |
GTT order placement is not available on this platform. |
Here's a comparative Analysis of Web-Based vs. Desktop Trading Platforms.
|
Criteria |
Desktop Trading Platform |
Web-based Trading Platform |
|
Speed |
Faster speed due to being locally installed on the computer. |
Heavy reliance on the internet speed and, therefore, might suffer from latency issues. |
|
Security |
High Security on account of being installed locally. |
Despite the high security and use of encryption techniques, a large set of data is processed through third party applications, which can be susceptible to vulnerabilities. |
|
Accessibility |
It requires installation on the device and can be accessed from that device only. |
Accessible from any device from anywhere, anytime, with a good internet connection and compatible browser. |
|
Cost |
It involves a high initial cost for software and regular updates charges. But it is free of cost. |
Free of cost or low cost with minimal updates. |
|
Compatibility |
It might have a specific operating system and hardware requirements. |
Compatible with the majority of browsers, operating systems, and devices with good internet connection. |
|
Data Analytics features |
The platform is execution focused, so it doesn’t have high-end data analytics features. |
Web-based platforms offer a wide range of data analytics features, such as screeners, market dynamics, market meter, and more. |
|
User Interface |
The user interface is perfectly designed for the institutional dealers, brokers and high-volume day traders catering to their specific need for faster order placement. |
The user interface is designed for novices, buy and hold traders, swing traders with a diversified range of data analytical features. |
Ultimately, the choice of the platform boils down to your trading style and preferences. Experienced intraday traders usually choose desktop platforms for faster order placement and to take advantage of market movements. Conversely, the web-based trading platform has a wide range of tools such as screeners, options chain analysis, index meter, symbol meter, and more to make an informed trading decision.
FYERS Next is more execution-focused, but for other analytical features, it is beneficial to use FYERS ONE or stay tuned for Web 2.O releases.
In a nutshell, FYERS Next is an advanced desktop trading terminal to enhance the trading experience with a wide range of features. With its high-end stability, fast-order placement, options calculator, market depth analysis, and other advanced features, it is an appropriate platform for those who find it more reliable to trade through EXE terminals. So, if that's what you are looking for, your best bet is FYERS Next!
Enhance your speed of order placement with FYERS Next and gain a seamless trading experience. Also, if you are new to FYERS, click here to open a demat account instantly.
FYERS Next is a desktop trading terminal, a software that can be installed on a computer to carry out trading activities on various exchanges. It allows traders to access real-time market data, place orders, monitor positions, analyze charts, and use various tools and indicators.
FYERS Next, a fast and efficient EXE terminal provide features like multiple and pre-defined watchlists, heat map, 360 degree analysis of stocks, options calculator, normal and basket order placements and more.
It takes less than 50ms to execute an order on the Next platform, which is ten times quicker than other desktop trading platforms.
You have successfully submitted your partnership request form. You will be hearing us soon!
