I had raised a ticked with fyers support "ticket- 711570 Short penalty charges levied by fyers" wherein Short penalty Charges of 92.55/- was levied from my trading account. On enquiring it was mentioned that for overnight holding of positions, there was a margin shortfall and because of that penalty is charged.
However according to NSE circular reference '60/2022' brokers are not supposed to passon the penalty charges on account of "short/non-collection of upfront margins" and are advised to refund any such penalty charged on clients.
When i contacted the fyers support, they replied that my margin penalty willnot come under upfront margin and that upfront margin is fixed amount, change of margin requirement during market movement will not come under upfront margins.
I don't think the point you are trying to tell is correct. Upfront margin consists of Span margin and exposure margin which is not a constant magin, the margin requirement due to market volatility is also accounted in upfront margin. The EOD margin penalty charged to me clearly comes under the nse circular of upfront margin and is refundable. Also, fyers is supposed to inform me about the margin shortfall and i should have funded the amount instead, then there shouldn't be any question of shortfall penalty like this.
Please have a look into this issue, as exchange insisted i think i am eligible for the refund for the margin shortfall penalty deducted from my account.
Thanks,
Anoop