I ran into an issue with Dhan where it Rejected my trades stating Insufficient funds.
Scenario
I had 50 quanities BankNifty FUT Sell Positions.
Now I when I am placing a reverse trades by Buying 100 quanities BankNIfty FUT positions.
Dhan should allow my to Trades because I already have 50 sell positions in my account.
ISSUE : Dhan Says Isufficient Funds due to margin shortfall which is not the case because
Logically Its a 50 quanities Buy order only.
Dhan says you have to manully exit 50 sell positons and then take 50 buy positions. Why I cant place 100 buy reverse order directly. Like I do with almost brokers.
This is basic feature that should be there is DHAN.
Hi @sudhirsuri When you are placing a reverse order, it is going to exchanges as a fresh order and not a part order. Hence margin requirements of fresh orders will be applicable.
If some brokers are sending these platforms as two orders (50 + 50) in the scenario you mentioned, they your brokerage is 2x as it sends them as multiple orders. In case of Dhan, reverse order is a single leg of 100 quantity in your case.
When I have a 50 Short Positions and I click on Exit trade . What broker does is Broker places a buy order of 50 Long positions to exit my open trade.
So I believe I have a 50 sell positions and I take a reverse Trade of 100 Buy positions.
Or
I exit my 50 sell(means broker will execute a 50 buy to exit prev trade) and Now I enter new 50 buy positions.
Whats the difference. Wont the brokerage be the same in both the cases ??
and Dhan has also given a reverse position option but it does not work.
You should add this feature and leave it up to the Client whether the Client want to use it or not
Yes. In case where two separate orders are sent to the exchange, then you are charged brokerage separately. On Dhan, we send it as a single leg to avoid extra brokerage charges for the user.
Features like this cannot be built on custom user settings, as they become difficult to scale.
This is not a custom user setting , It is generic. Zerodha, Icici direct checks margin requirements at runtime and allows reverse trade.
Please build this feature of allowing reverse trades . As simple as that and Let client decide whether He wants to take Reverse trade or Exit and then take Fresh Trade.
Reverse Trade is feasible with Trading View else Trading view integration does not makes sense for FNO Users.
its more like your existing feature of Reverse Position in single Tap… modification required are reversal with SLM/SL.
Problem with Existing Reversal Position Feature is that its have to do on CMP. where as it must be allow to place reversal order with SL/SLM.
and Moreover to earlier Comments regarding extra Brokerage… then its just one order… not separate order… no additional brokerage charged only statuary tax since Turnover will 2X.
Request you to please look into this feature. I have send email to concern team in March 2023 since than no Reply.
Kindly loo into this very very tiny and basic feature missing in Dhan.