fyers introducing mcx

It’s a pleasure to announce that Multi Commodity Exchange (MCX) is now available on FYERS. It got a bit delayed because at the time of our membership application, RBI and SEBI allowed bank’s subsidiaries to trade/deal in commodities for the first time. This led to a flurry of new applications at the exchange that stretched their turnaround time. Other than that, the process of lengthy compliance, dealing with the telecom providers, getting our in-house trading platforms tested, fine-tuned and approved by the exchange and auditors used up more time than we anticipated. But all said and done, we are happy that we are live on MCX.

MCX Margins / Leverage

We have been working on our margin policies to provide traders with the most suitable leverage and reducing risks associated with the price volatility in the commodity markets. Keep in mind that providing high leverage involves cost of financing which is only feasible if the brokerage charges are higher. Since MCX contracts are already highly leveraged, it is best avoided from a risk management perspective. To learn more about the margins required for commodity contracts, visit the MCX section of our Margin Calculator. Please note that the margins required for each commodity can change from time to time without prior notice due to various factors like MCX requirements and our risk management policies. We have kept your expectations in mind and the leverage provided is reasonably high.

MCX Pricing

We have adopted the same pricing model for MCX futures & options as other segments like the equity & currency segments without making any changes. For more information on this, you can refer to our pricing page. You can also refer to our Brokerage Calculator. Please note that the FYERS 30 Day Challenge will be applicable for MCX too. So, if you have taken up the challenge, we will be considering the P&L of your commodity account to calculate your win.

Trading on MCX

We are the only broker in India to provide MCX trading on the world-renowned TradingView charts. It is available on Fyers One, Fyers Markets and Fyers Web. The order types which will be available on MCX are Intraday, Margin and Cover Orders. Leverage provided on cover orders will be higher than the Intraday product type. For more details about this, refer to our Margin Calculator.

FYERS Policies on MCX Risk management & Settlements

Our risk management team will be square off Intraday trades 25 minutes before the market closes. These timings are subject to change from time to time and we will keep you informed about these changes if we make any, in the future. Since the settlements of commodities are tedious, we will resort to squaring off positions from our end if the clients don’t square off by themselves before the delivery intent day/expiry date whichever is applicable to the specific contract to avoid a delivery situation where the client will have to take/give physical delivery of the underlying goods. To learn more about our Policies & Procedures, you can go through our Terms & Conditions.

MCX Options

After receiving SEBI’s approval, MCX has introduced options contracts in 5 commodities as on date. They are Gold, Silver, Crude Oil, Copper and Zinc. We will be enabling commodity options contracts only in the MARGIN product type (Margins required as per the Exchange’s requirements). Currently, we do not provide leverage on these contracts due to risk management reasons. If we do provide any leverage in the future, we will notify everyone about it.

Fund transfers for MCX trading

To add funds (Pay-in) to your account to be able to trade on MCX, you need to add funds via NEFT/RTGS/IMPS. You can learn more about that in our fund transfers page. To withdraw funds, you’ll need to place a withdrawal request (Pay-out) from the Fund Transfer tab by selecting “Withdraw Funds”.

Timings

MCX will be open all weekdays except on the trading holidays which are mentioned in our Trading Holiday Calendar. Each trading day is divided into 2 trading sessions, morning and evening. The morning sessions are between 10:00 AM to 5:00 PM and the evening session is from 5:00 PM to 11:30 PM (Summer) / 11:55 PM (Winter). The evenings sessions are subject to change based on the seasons to account for US daylight savings. These timings are decided by MCX. As a broker, we comply with the exchange’s timings. Please note that clients will have to stay updated about any changes in market timings as they may change without notice. Below are the timings as on date.

  • The market timings for Non-Agri commodities are between 10:00 AM to 11:55 PM.
  • For Internationally linked Agricultural commodities the timings are between 10:00 AM to 9:30 PM.
  • For other Agricultural commodities the timings are between 10:00 AM to 5:00 PM.

How to enable MCX for existing clients

All existing clients who are interested in trading commodities on MCX need to sign new forms. Unfortunately, there is no way around it because these are regulatory requirements which cannot be avoided by us. The good news is that we’re among the few brokers in India to have both Equities & Commodity Exchange licenses in the same business entity. This can help to save valuable time, efforts and some paper as of now. In the future, I’m sure this will help us to seamlessly integrate other things as well. You can get in touch with us here to enable MCX segment.

I really appreciate your patience regarding the launch of MCX on our platforms. We’ll make it worth the wait by giving you the best trading experience. As we go ahead, feel free to give us your feedback so that we can evaluate and make the necessary changes wherever possible. Our goal is to solve the real problems faced by traders and we are uncompromising in our approach. All good things take time but we’re working round the clock to give you a hassle-free trading experience.

Tejas Khoday

Tejas Khoday

Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.

95 Comments

  • Er. Ashok Pal says:

    thanks and appreciation for FYERS team

    i like to see option strategy trading like upstox .like if we are using long straddle strategy then order of both leg can be placed on same time with single click with predefined quantity.

  • ashish says:

    can you please introduce volume profile indicator on fyers web??

  • Tirumala Rao says:

    Hello Mr Tejas, been hearing good things about Fyers, but couldn’t join, as i trade both NSE FNO N MCX. Trading with other discount broker who is offering combined ledger for both FNO & MCX trading. Feel not good to mention name of broker here. I hope it will be easy to implement combined ledger in initial state of adding new segment please consider it. If already there means i am ready to signup . That may increase new client base as well.

    • Tejas Khoday Tejas Khoday says:

      Hi Tirumala Rao,

      To be honest, I would love to unify the ledgers but is it compliant? That’s a question that needs to be answered by MCX, NSE, BSE and the regulators. Currently, there’s grey area regarding this. I have been following up on this matter and as soon as we get clarity I can respond to it in more detail. The back-end is complicated Mr. Rao. You wouldn’t like it if the exchange imposes penalties on your account for cross-utilization of funds or some other levies. We’ll take our time with this. But be sure of one thing, we are among the handful of brokers who have all the exchange licenses in the same business entity. This is more easily achievable for us than other brokerages.

      Hope this clarifies. I encourage you to start trading with us.

  • Sandip says:

    Since MCX is enabled for same business entity, does that mean pay in once and use the same amount to trade in both NSE and MCX with out payin payout like we have to do for other brokers?

    • Pratik Parthe Pratik Parthe says:

      Hi Sandip, even though the entity is same, according to the statutory guidelines you cannot use the common funds for both the NSE and MCX trading. You need to deposit the funds into different accounts. Find our bank details here: https://fyers.in/fund-transfer/

  • Kunal Aggarwal says:

    Thanks for introducing this Fyers. I wanna have an account in mcx. How shall I get a form? It’s not update in the website yet

    • Pratik Parthe Pratik Parthe says:

      Hi, if you are our existing client and wish to apply for the MCX account then kindly register here: https://goo.gl/A15H2F
      You can also get in touch with us to our direct phone line: 080 4625 1111

  • PV Rajkumaran says:

    Why I am still not able to see mcx charts on Fyers one? While other two platforms Web and mobile app it is showing. Please check

    • Pratik Parthe Pratik Parthe says:

      Hi, just make sure that you have applied for the MCX account with us. Once that is opened you will be able to see the MCX charts on Fyers One platform as well.

  • Senthil D'souza says:

    I should thank fyres for giving mcx on trading charts and also making us get more margins on commodities. I think it is 5 to 10 times as told by one of your support guys right?

    • Pratik Parthe Pratik Parthe says:

      Thanks, Senthil. Yes, it is true that you get 5-10 times margin in commodities under Cover/Bracket orders.

  • Prajapati Babu says:

    Sir I am still waiting for BO in fno. Since all MCX stocks are fno and we cannot place bo there.

    • Pratik Parthe Pratik Parthe says:

      Hi Prajapati, happy to inform you that now the Bracket orders are available in the FNO segments. Now you can use that for MCX as well.

  • Satya Mohite says:

    Congrats Fyers. One thing, I am not able to see brokerage charges on mcx trading on your website. Are you going to make it official?

    • Pratik Parthe Pratik Parthe says:

      Hi Satya, the brokerage charges for the MCX segment are already mentioned on the website. You may refer to pricing policies for the Futures & Options segment.

  • Rakesh Dholakia says:

    Hey great to see that MCX is finally here. I want to how much margin is provided on Gold mini futures. Under co/bo and regular order both.

  • Puneet Kumar says:

    Hey Tejas, can you tell how do I register for mcx trading? Btw I already have an account with Fyers. Thanks in advance.

    • Pratik Parthe Pratik Parthe says:

      Hi, if you are our existing client and wish to apply for the MCX account then kindly register here: https://goo.gl/A15H2F
      You can also get in touch with us to our direct phone line: 080 4625 1111

  • Snehal Parmar says:

    Hey Fyers, thanks for introducing commodities trading. Finally I can shift to Fyers. Waiting so long. Can I access these charts on tradingview?

    • Pratik Parthe Pratik Parthe says:

      Hi Snehal, yes you can access the MCX scrips on Fyers web which has a user-interface of TradingView.

  • Jojen L Rao says:

    I am not able to see MCX charts on Fyers one. Can you please help.

  • Danial Marks says:

    I have been waiting for this since a very long time. Thanks Fyers for finally introducing MCX.

  • Srikanth K V says:

    How much margins are you proving for CO/BO in mcx?

  • Shilpam Dubey says:

    Hi Tejas,

    I have been trading with Fyers for last two years and have witnessed the astounding growth of your company and its commitment towards providing its clients the best services. I must say that it’s an amazing platform.

    Congratulations to you and your team for introducing MCX. Finally, the wait is over, and I know you make the wait worth it. 😉

  • Hi Tejas, I am enjoying the Fyers equity trading account immensely Code FP0702). I am elated to trade in mcx commodity also. I have submitted the request to open commodity trading n dmat account 7 days back, however I have not received any call back. Please help.

    • Tejas Khoday Tejas Khoday says:

      Hi Priya, Glad you enjoy trading with us. That’s strange. Are you sure you received all calls? You’ll get a call-back tomorrow. Thanks for writing.

    • Tejas Khoday Tejas Khoday says:

      I got feedback from my team this morning that you have been contacted today.

  • Nitin says:

    Thank you Tejas sir for providing one of the best charting platforms through Fyers! I am surely going to promote/recommend Fyers to other traders.
    However, a small workout on below things can make the fyers experience more user Friendly :
    1. Portrait-mode charts with all drawing tools on Fyers mobile app. (currently, we can use only in Landscape-mode).
    2. Smooth and speedy scrolling from right/left & up/down in charts (all platforms)
    3. Whatever the lines/drawings we draw there on charts using drawing toolbar, it should be auto saved.. so that even on the next day or next week, we will get all those things (drawings) intact.
    4. BO SL-M & SL for first leg of order (urgent)
    5. (If possible).. Professionally designed detailed demo video which explains every feature of Fyers one, Fyers web & mobile app. It will help the new Fyers-traders to start their trading quickly.

  • Rito says:

    This is good news. I have filled up the form on Friday itself – but am still waiting for a call back from the team. Hope to get it soon.

    Also – MCX quotes do not seem to be appearing on Fyers one (though it does get updated on Fyers Web and the mobile platform)

    • Tejas Khoday Tejas Khoday says:

      Hi Rito, you can expect a call tomorrow. A lot of our clients have opted to trade in commodities so there’s a long list to follow-up on. The team will get in touch with you at the earliest.

      With regards to the quotes, FYERS ONE back end works differently. It will be enabled after the account is enabled for MCX.

  • Karthik says:

    Probably the most trending news across all the traders. But, I am unable to view the leverage provided. Could you please explain it ?

    • Tejas Khoday Tejas Khoday says:

      Hi Karthi, The margin calculators are being updated. Will be visible on the website this week.

  • Adhiraj Randhawa says:

    Great initiative by FYERS. Thanks for the team for making all the trading possible in a single platform.

    • Tejas Khoday Tejas Khoday says:

      Yes, however we wish that the regulations were easier to unite the ledgers! But we’re glad we are live with MCX finally.

  • Parmesh Singh says:

    Great news from FYERS. Are BO and CO enabled for MXC as well?

  • Ayush Jadhav says:

    Superb!! It’s a Great News. Finally, My wish Fulfilled.:-)

  • Ankita says:

    Great News!!! kudos to Fyers Team.
    The wait has come to an end. Excited to trade in mCX.

  • Ritesh Sharma says:

    can I trade in commodity without opening demat account?

  • kaulash says:

    good news to hear sir.thumps uppp
    fully automatic trading r semi automatic trading possiable sir
    if trading time extanded it will be very useful one

  • Mani says:

    Dear Tejas,
    Thanks for Trading view charting in commodity. But I have on request to you. If you provide the editable options on your indicators ( just like Trade tiger) that will be more beneficial.
    Thank you.

  • Govind says:

    Tejas I joined long back when you have only NSE. That time you had promised BSE and MCX. Now you are making it happen.. proud to be associated with a broker who speaks and does. I will recommend my friends to trade with FYERS instead of Zerodha now.

  • Madhu G says:

    Finally…. TradingView commodity trading on Fyers.. Kudos tejas

  • Sandeep T says:

    Do you have cover order for mcx?

  • Alpha trader says:

    Looooooooooong pending! Finally I can trade MCX with TradingView charts

  • Deepak says:

    Arrey Bajjaooo!

  • Micro Himalayan says:

    Great congrats sir
    I am glad that I am a client of Fyers
    I won 30 days challenge for 5 times and it is all because of scanners
    Waiting eagerly for online account opening
    Best of luck for future sir
    You will hit one million clients this year.

    • Tejas Khoday Tejas Khoday says:

      Hey there! How are you? That’s great to know. I guess the challenge has helped you and now we’ll have to put an upper limit on consistent winners perhaps ;-). Thank you! Hopefully.

  • Hitesh says:

    Now only thing I’m waiting for is leg2 of bracket order to use sl entry

    • Tejas Khoday Tejas Khoday says:

      Hitesh, this will be done in Phase 2 of the bracket order launch. You see, there are some risk management checklists which need to be dealt with efficiently before we launch it. That’s next in line after MCX launch.

  • Himanshu Gupta says:

    can I use trading view chart for commodity trading using Fyers Web?

  • Imran says:

    will i be able to trade in commodity using Fyers Markets(App)?

  • Naveen says:

    Finally ! I was waiting for it from a long time.

  • Amith says:

    I am glad finally FYERS has started commodity trading.

  • Suchith says:

    What is different while trading in MCX and NCDEX markets?

  • Mukesh says:

    What is a Secret and trick of Making Profit with no risk and technical knowledge in MCX (Trading in Commodities) in just 10-15 Minutes?

  • Karthik Yadav says:

    Wow, the wait has come to an end. Happy to the good news.

  • Manish says:

    Superb!!! Finally you have started commodity trading. The thing I am quite excited about is I can use TradingView charts to trade in MCX. This is probably the first time in India. Kudos guys..

  • Ajay says:

    Was waiting for this from long time …..

  • soorya hz says:

    AS A FYERS CLIENTS I WAS WISHING TO HAVE COMMODITIES MARKET SEGMENT ON THE SAME PLATFORM, NOW WISH FULFILLED, CONGRATULATIONS FYERS FOR STEPPING AHEAD IN STOCK BROKING INDUSTRY

    • Tejas Khoday Tejas Khoday says:

      Hi Soorya, please note that although we have received the MCX license in the same business entity, you will still have to maintain 2 different sub-accounts (Equity & Commodity separately). This is because there are regulatory constraints. However, I personally expect these hurdles to be resolved because both NSE and BSE are launching commodity trading.

  • Hi Tejas,
    I opened account with Fyers just because it has all the tools like trading view. now i am regretting because of the kind of support from technical team.
    i am price action trader. last night i had marked all my price level(entry,stoploss,target) today morning i do not see them. i raised up ticket early in the morning at 9:14 ticket#: 6357648. no response, i called support they said no technical person is available which is pathetic thing to hear. its a critical system and do not have 24/7 support. till now i do not have solution. my today’s trading activity is ruined just because of this. atleast i need a fix now so that it will not impact my monday trading… i need to start my analysis….
    i have already reffered 3 peopele to Fyers. i am sorry to If i do not see a solution by today. i will have to refrain them from account opening and still more people who want to open account

    • Tejas Khoday Tejas Khoday says:

      Hi Purushotham, The issue you have reported needs to be replicated at our end. I am going to arrange a call-back on priority so that you can perhaps show us the exact issue via remote viewing. Be rest assured that we look into important issues without delay. We have your details so we’ll look into this right away.

  • Avinash D V says:

    Superb!! Finally you’ve started the commodities trading. The thing I am quite excited about is I can use TradingView charts for MCX trading. This is probably for the first time in India. Kudos guys..

    • Tejas Khoday Tejas Khoday says:

      Hi Avinash, Yes you’re right. We’re the only broker in India to have introduced MCX with TradingView charts!

  • Atharv says:

    Congratulations Team FYERS! I have a quick question. Can I use the limit available in NSE for trading in MCX?..

    • Tejas Khoday Tejas Khoday says:

      Currently, there are regulatory hurdles for interoperability of funds between NSE and MCX but I assume that these will be relaxed soon because NSE and BSE are launching commodity segments.

  • anitha banu says:

    its a great news….

  • arun kumar says:

    Hi, happy to hear that Fyers are introdoced mcx .

    • Tejas Khoday Tejas Khoday says:

      Finally, right? Anyways I’m glad it has happened now since equity markets have become turbulent.

  • Maaya Suresh says:

    Its a great news to hear.

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