FYERS Account Opening Review
Fyers Track Record Of Best Online Stock Broker In India
FYERS Account Opening Charges and Procedure
FYERS Securities Capital Limited is an Indian stock broker company based in Bangalore which was officially established in August 2015. It has created a benchmark by providing discount brokerage services at 90% less brokerage than traditional full-service brokers.
The flat fee brokerage plan is the center of attraction for traders as flat ₹20/- per order is charged irrespective of trading segment or size of trade. FYERS has earned 50,000+ clients over the globe. The customers can open their account and can avail more than 95% savings on brokerage.
FYERS Account Opening Charges:
Trading Account opening charges
Trading Account Annual maintenance charge (AMC)
Demat Account opening charges
Rs.400/- + GST
Demat Account Annual maintenance charges (AMC)
Rs.300/- + GST/year
Note – Demat AMC is charged quarterly Rs.77 + GST.
Documents required to open an account at FYERS:
Following documents are required for account opening:
1. PAN Card.
2. Address Proof (Aadhar card/ Driving license/ Passport/ Telephone Bill/ Electricity Bill/ Bank Statement).
3. Income Proof (Bank statement of last 6 months/ Latest Salary Slips/ Copy of ITR acknowledgement/ Copy of Net Worth duly signed by Chartered account).
4. Passport size photographs.
5. Cancelled cheque.
FYERS Account Opening Procedure:
FYERS provides both online and offline methods to open an account. Steps for the same are given below:
• Online Method
i. Visit the official website of FYERS.
ii. Click on the “Open an account” button on the top-right corner.
iii. Fill in the required details like mobile number and E-mail address.
iv. Upload scanned copies of all the required documents.
v. E-sign your application form with Aadhar OTP.
• Offline Method
i. Email soft copies of all above required documents to FYERS or send hard copies of all above required documents to FYERS.
ii. You will receive a filled application form.
iii. Sign the application forms.
iv. Send the signed application forms to FYERS.
v. You will receive your login ID and Password by email shortly after your form submission.
FYERS Account Opening Status
Account with FYERS is opened and activated on the same day when the organization receives the signed account opening form. Clients can also check the status of account opening by calling the customer support.
Once the account is activated, the customer would receive a welcome mail which provides all the information he needs to begin the trade.
FYERS trading platform is among the most advanced trading platforms in India. The platform includes an in-house developed installable trading terminal, websites and mobile application. It provides a 2-in-1 account facility in which both the accounts i.e. trading and a demat account of a customer links with each other. This makes customers carry their transactions seamlessly and fluently. The customer can easily manage both of these accounts online.
Frequently Asked Questions
To buy either calls or puts, the margin requirement is only to the extent of the premium. Margin for buying options = Premium * Total Quantity.
Derivative contracts which are going to expire in the current month are called ‘Near Month Contracts’, those which expire next month are called ‘Next Month Contracts’ and those which expire after the month are called ‘Far Month Contracts’.
Fyers offers multiple modes to add funds in the traders trading account. They can add funds via IMPS/NEFT/RTGS, UPI and internet banking.
Proof of Identity, Proof of Address, PAN card, Bank statement, cancelled cheque and photographs are required to open an account with Fyers.
No, fund withdrawal is only processed through bank transfers.
No, fund withdrawals are credited only to the primary bank account.
When a customer places an order over the phone through a dealer, Fyers charge an additional ₹20 as Call & Trade Fee. Being an online stock broker, it prefers that the customer uses its online trading platform to execute orders. All trading software including an installable trading terminal, website and mobile application are made available free of charge to customers.
In that case, the client is obligated to clear all the dues to the broker immediately. Failing which, the client will be charged a penalty.
Yes, Fyers provides algo trading.
Yes, with Fyers you can place MIS order.
Yes, the minimum balance amount can be utilized to enter into any position.
Yes, Fyers allow investors to take Intraday future positions with lesser margin requirements than carry forward future transactions. But it is mandatory to square off such positions on the same day.
Anyone who has an account with Fyers is eligible for Thematic investments. It can be used by new and experienced investors alike.
Yes, FYERS provides "Good till Canceled" (GTC) or "Good till Date" (GTD) or "Valid till Date" (VTD) order.
IPV (In-Person Verification) is conducted through web camera after either collecting the account opening form or once all necessary documents are received by the FYERS’ executive.
A theme index represents the value of the particular theme/portfolio of stocks.
It is a mutual contract between two parties which derives its value from an underlying asset.
Yes indeed, as it is a regulatory requirement.
Yes, already existing Demat accounts can be linked with FYERS trading accounts. For further details, customers can contact their sales executive.
Yes, It provides market updates and news alerts.
Yes, it is mandatory to have a Demat account in order to make Thematic investments.
Traders can only nominate one person per mutual fund folio. In case, a client holds more than one folio then different nominees can be appointed for each folio.
Yes, Fyers offer advanced technical charts on its free trading terminal.
It is a facility that enables the investor to carry forward his/her futures positions beyond the expiry of contract. Basically, it’s a two-legged transaction. In the first leg the investor needs to square off the near month position, subsequently in the second leg he/she will have to take a fresh position in the same direction in the next or far month.
Yes, Fyers provides After Market Order (AMO).
The details will be communicated to the traders within 3 days from the date of transaction.
Fyers API Bridge is designed for Algo Trading. With this API, clients can develop and execute their trading strategies using their choice of 3rd party trading platform or design their own trading software.
This cycle refers to the period in which the buyer and seller of shares settle their obligation to each other. In India, we follow the T+2 settlement cycle. So, if the transaction takes place on Monday, the settlement will be done on the second trading day, which is Wednesday, if the transaction takes place on Tuesday, the settlement will take place on Thursday, so on and so forth.
Minimum margin is the margin amount that the investor should have allocated towards the open positions. If the minimum margin level is breached, the system will automatically block further funds. In case an investor does not have sufficient funds in his/her account, the position will be squared off.
It charges only for an executed order. So even if an order is executed in 5 different trades then it is considered only 1 executed order and you need to pay only ₹20.