FYERS Demat Account Opening Charges and Details
Fyers Track Record Of Best Online Stock Broker In India
FYERS Demat Account Opening Charges and Details
FYERS is a Bengaluru based online discount broking company. The firm charges zero brokerage and provides flat fee brokerage trading services to traders. It allows the customers to trade in equities, currencies, derivatives and thematic investing at NSE with Fyers. The firm provides a wide range of high-end technology platforms to make trading faster and reliable.
A trading and a demat account are necessary to initiate trading in the Indian Stock Markets. Trading is almost impossible without having your own trading and demat account.
Documents Required to open a Demat Account with FYERS
To open a demat account with FYERS, one must carry and attach or upload some documents along with their application. The documents required are:
1. PAN Card- A self-attested photocopy of PAN Card is to be submitted with the demat account opening application form. The signatures are marked as a valid document.
2. Address Proof- An address proof is also required to open a demat account with Fyers. You can attach any document that shows your address such as Aadhar card, Passport, Driving License, Telephone Bills, Electricity Bills and a bank statement.
During the account opening procedure, you are required to provide your correspondence and permanent address. If both the addresses are the same then you will have to submit one address proof. However, in case you have different addresses then you are required to submit a proof for each address separately.
3. Income Proof- If the customer wishes to trade in the F&O or Commodities segment then he is required to submit an income proof. The documents that can be submitted as income proof are a copy of ITR acknowledgement submitted to the IT department, a copy of Net Worth Certificate duly signed and certified by a CA, a Form-16 copy, Bank account statement for the last 6 months and a demat account holding statement.
4. Passport Size photographs- Two passport size photographs are to be attested with the account opening application form. If you wish to add a nominee then his/her id proofs are also to be attached with the form.
5. Cancelled Cheque- In order to confirm the bank details, you are required to provide a cancelled cheque that shows account holder’s name, bank account number and an IFSC code.
Steps to open a demat account with Fyers
Demat Account Opening Charges
FYERS has a tie up with IL&FS (Independent, third-party depository participant). There is no account opening charge for opening a demat account but the upfront fee is charged by the firm as Rs.400+taxes for FYERS clients.
FYERS is providing a fresh and technically sound online platform free of cost, along with relatively inexpensive costs. Though the visuals and functions might look similar, this terminal is way better in comparison to other terminals in terms of stock testing. A 100% free trading platform with zero account opening charges makes clients to just open their Demat account opened and start trading.
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.