
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 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.
Would you be supporting NCDEX also for agri-commodities?
Currently, we don’t as the volumes on NCDEX are very less in comparison and our clients haven’t asked us for NCDEX contracts yet. So…
Is there a certain limit on the number of times a commodity can be traded on MCX; for instance gold.
Hey, No there are no limits as such. You can trade without limits but just make sure you don’t overtrade for your own good. 🙂
Yesterday i placed a cover order in mcx crudeoil by 8.30 p.m.it was rejected whereas i did three trades from the morning. Is there any time limit upto which cover order is available ? Just want to know why order was rejected.
Hi, Please check the reason for order rejection. It could either be because of lack of funds available in your account or that you have other open orders which have blocked margins as they are not yet executed etc. The order rejection reason is mentioned in the order book. Thx.
Make a more new posts please 🙂
___
Sanny
Hi Tejas,
First of all, a big thank you for bringing such a state-of-the-art trading technology at an affordable price. I have a quick question. Why does it take so long for 60-minutes chart to load in Fyers Web as compared to other time frame charts like 1-minute and 5-minutes which gets loaded with a blink of an eye? If you can fix this one issue then I can confidently say that Fyers Web has the potential to give Sharekhan Trade Tiger (the most preferred trading platform in the day trading community) a run for its money.
Hope you will come up with an appropriate solution.
Thank you once again for providing such a great trading experience.
Thanks for wishing us well Vishal.
Hi Tejas,
First of all, a big thank you for bringing such a state-of-the-art trading technology at an affordable price. I have a quick question. Why does it take so long for 60-minutes chart to load in Fyers Web as compared to other time frame charts like 1-minute and 5-minutes which gets loaded with a blink of an eye? If you can fix this one issue then I can confidently say that Fyers Web has the potential to give Sharekhan Trade Tiger (the most preferred trading platform in the day trading community) a run for its money.
Hope you will come up with an appropriate solution.
Thank you once again for providing such a great trading experience.
Hey Vishal, Just checked at our end and the 60 minute chart doesn’t take anymore time than any other time frame at my end. It barely takes a second. Make sure you’re not using multiple applications at the same time which maybe consuming your internet bandwidth. Also, if you are using multiple instances of FYERS web on your platform, this could happen. Please do check this and revert. Thanks.
Hi Tejas, This issue got resolved after my first my first complain but I’m facing this issue once again after the recent update of Fyers Web. Can you please check 60 minute charts of NSE cash stocks at your end? I’m sure you will notice a substantial delay in loading of NSE cash charts on 60 minute time frame. Btw this issue is limited to NSE cash charts only. Both NSE futures and MCX charts are working fine.
Thank You
For 1Hr 4Hr we will provide 1 minute data for the entire duration and the candles are created depending on the data we provide. Since we have to provide data for entire duration there will be a lot of data that has to be sent from the server. So it takes some time to load all the data.
WILL BO BE AVAILABLE ON MCX ALSO??
Yes, very soon Syed.
Save option is not working from over 9 days now. The charts don’t get saved after the analysis. Also the user created watchlist disappears randomly.
Hi Keerthan, We are fixing the watchlist issue. The issues you reported will be fixed this week. Thanks for reporting. Happy Trading!
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.
Not understood your views on MCX
can you please introduce volume profile indicator on fyers web??
Ashish, this can be done when TradingView makes it available.
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.
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.
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?
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/
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
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
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
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.
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?
Thanks, Senthil. Yes, it is true that you get 5-10 times margin in commodities under Cover/Bracket orders.
Sir I am still waiting for BO in fno. Since all MCX stocks are fno and we cannot place bo there.
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.
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?
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.
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.
Hi Rakesh, we are among the highest commodities margin providers. Kindly refer this link to know the exact figure: https://fyers.in/margin-calculator/equity-futures/
Hey Tejas, can you tell how do I register for mcx trading? Btw I already have an account with Fyers. Thanks in advance.
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
Hey Fyers, thanks for introducing commodities trading. Finally I can shift to Fyers. Waiting so long. Can I access these charts on tradingview?
Hi Snehal, yes you can access the MCX scrips on Fyers web which has a user-interface of TradingView.
I am not able to see MCX charts on Fyers one. Can you please help.
Kindly reach us at –
Phone: 080 4625 1111
Email: support@fyers.in
I have been waiting for this since a very long time. Thanks Fyers for finally introducing MCX.
How much margins are you proving for CO/BO in mcx?
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 Shilpam, Thanks! :-). Make sure you try our 30 Day Challenge regularly.
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.
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.
I got feedback from my team this morning that you have been contacted today.
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.
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)
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.
@Tejas – Thanks for the update and the details.
Probably the most trending news across all the traders. But, I am unable to view the leverage provided. Could you please explain it ?
Hi Karthi, The margin calculators are being updated. Will be visible on the website this week.
Great initiative by FYERS. Thanks for the team for making all the trading possible in a single platform.
Yes, however we wish that the regulations were easier to unite the ledgers! But we’re glad we are live with MCX finally.
Great news from FYERS. Are BO and CO enabled for MXC as well?
Hi Parmesh, Cover Orders are enabled at the moment.
Superb!! It’s a Great News. Finally, My wish Fulfilled.:-)
Great News!!! kudos to Fyers Team.
The wait has come to an end. Excited to trade in mCX.
Glad you are. Remember to use this link to register if you are an existing client – https://fyers.in/introducing-mcx/
can I trade in commodity without opening demat account?
Yes, you can.
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
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.
Hi Mani, which platform are you referring for custom indicators?
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.
Thanks Govind.. these things take time due to regulations but we have been working on them every single day at the back-end.
Thanks Govind!
Finally…. TradingView commodity trading on Fyers.. Kudos tejas
Do you have cover order for mcx?
@Sandeep, Yes we do have Cover Orders for MCX.
Looooooooooong pending! Finally I can trade MCX with TradingView charts
Yeah, that sounded kinda longer than it was. All the best trading on MCX with us.
Arrey Bajjaooo!
🙂
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.
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.
Now only thing I’m waiting for is leg2 of bracket order to use sl entry
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.
can I use trading view chart for commodity trading using Fyers Web?
Of course! We wouldn’t launch it without making it available on Fyers Web.
will i be able to trade in commodity using Fyers Markets(App)?
Yeah, You can trade MCX contracts on the app and other platforms.
Finally ! I was waiting for it from a long time.
Hi Naveen, if you are an existing client, leave your client ID here and we’ll get back in touch with you to complete the enablement process – https://docs.google.com/forms/d/1ulHxUB8oOeBIY48AM8ORvNeonVBSwZE-ganIeDrhpAI
I am glad finally FYERS has started commodity trading.
Hey Amit, make sure to enroll soon. Thx!
Use this link to leave your details – https://docs.google.com/forms/d/1ulHxUB8oOeBIY48AM8ORvNeonVBSwZE-ganIeDrhpAI
Also, tell your friends about it. A lot of people haven’t opened an account with us yet because we didn’t have MCX. Now we finally do.
What is different while trading in MCX and NCDEX markets?
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?
Hi Mukesh, we don’t give any trading tips or get rich quick solutions.
Wow, the wait has come to an end. Happy to the good news.
Thanks Karthik. Make sure you enroll using the link in the blog.
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..
Was waiting for this from long time …..
Hi Ajay, Register your details here if you are already a client. Our team will call you today EOD or on Monday – https://docs.google.com/forms/d/1ulHxUB8oOeBIY48AM8ORvNeonVBSwZE-ganIeDrhpAI
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
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
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.
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..
Hi Avinash, Yes you’re right. We’re the only broker in India to have introduced MCX with TradingView charts!
Congratulations Team FYERS! I have a quick question. Can I use the limit available in NSE for trading in MCX?..
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.
its a great news….
Thx! If you’re a registered client already get the MCX segment enabled by entering your details in this link. Our team will get in touch with you shortly. https://docs.google.com/forms/d/1ulHxUB8oOeBIY48AM8ORvNeonVBSwZE-ganIeDrhpAI/
Hi, happy to hear that Fyers are introdoced mcx .
Finally, right? Anyways I’m glad it has happened now since equity markets have become turbulent.
Its a great news to hear.
Glad, Remember to enroll using this link if you’re an existing client – https://docs.google.com/forms/d/1ulHxUB8oOeBIY48AM8ORvNeonVBSwZE-ganIeDrhpAI/