FYERS Review

Yes, account opening is free with Fyers. For a limited time, Fyers is also giving free AMC for life to new account openings.

Upon submission and verification of necessary documents, your account will be opened within 24 working hours.

The following documents are required for opening a Demat account with Fyers:

1. Proof of Identity (PAN card)

2. Proof of Address (Passport, Electricity bill, etc.)

3. Any one of these documents, if the customer wants to trade in derivatives; Copy of ITR acknowledgement / Salary Slip, Copy of Form 16 / Bank account statement for the last 6 months / Copy of Demat account holding statement / Networth certificate / Relevant documents substantiating ownership of assets/self-declaration with relevant supporting documents.

4. Photo or scanned copy of cancelled cheque/passbook/bank statement with IFSC/MICR code.

Upon verification of documents, your account will be activated and you will receive your login credentials (Unique Client Code & Password) on your registered email. In case of delay of more than 24 hours, you can check the status by calling 91-8046251111 or 91-9591821111.

Fyers 30 Days Challenge is a reward program focused on profitability in trading. Traders who stay profitable for 30 consecutive days, brokerage upto ?10,000 will be refunded to the trader by the company. The challenge is applicable to all trades in NSE, BSE and MCX.

Fyers does not charge an account opening fee.

Fyers does not charge brokerage on equity delivery. Fyers does charge ?20 per executed order for the equity intraday and derivatives categories.

The charges for equity intraday, futures, and options are Rs. 20 per executed order.

Fyers and Zerodha are both discount brokers. Both the platforms have their positive and negative factors and are suitable for different users based on their requirements.

No, customers need to open a Demat account and a trading/investment account. A Demat account is compulsory to be able to buy or sell securities.

Yes, users can sell T1 shares as long as they are not in the T2T category. T1 shares are those shares which have been bought, but which haven’t been delivered to the investor’s account as delivery is made on T+2 days.

Fyers offers upto 16x margin. The actual limit depends on the instrument. Margin is available only for intraday trades and no other order type.

Yes, Fyers is safe as it is a regulated stock broking platform, operating under the regulations & guidelines of SEBI & Stock Exchanges.

Yes, Fyers is registered with SEBI. It is also a Depository Participant (DP) with CDSL.

Proceed with the following steps to close your Fyers account.
1. Login to your account.

2. Click on the left corner of the screen where your name and client ID is shown.

3. Go to “Account Details” and select the “Close Account” option.

4. Click on “No thanks” to proceed with account closure.

5. Upload your signature and enter the OTP received on your registered mobile number.

Note: Your account will be closed within 7 working days of completion of the submission.

The process for IL&FS Demat account closing is offline. Clients need to fill out the IL&FS Demat Closure Form and mail it to:

No. 225,14th Cross Rd, 1st Block,

Rahmath Nagar, RT Nagar, ?Bengaluru,

Karnataka 560032.

Upon placing a withdrawal request with FYERS, here's what you need to know:

1. Same-day Processing: If you make a request between 5:30 AM and 6:00 PM, we process it on the same day. However, if you have open commodity positions/orders in the MCX segment, it will be processed on the following trading day.
2. Next Day Processing: Requests made between 6:00 PM (Previous Day) and 5:30 AM (Next Day) will be processed by 04:00 PM on the next day.

Note: Withdrawal requests are not processed on weekends, trading holidays, and clearing/settlement holidays.

Good Till Trigger (GTT) is an order type where you can set a Target or Stop-Loss, remaining valid for up to one year from its placement. In essence, you determine a price to Buy or Sell a particular scrip, and this order remains active until that price is achieved.

Transferring funds to your FYERS trading account is convenient and can be done via NEFT/RTGS/IMPS/UPI. If you're interested specifically in the UPI method, you can refer to our article – "How do I add money instantly to my trading account using UPI?".

For the other methods, follow these steps:

Access Your Bank's Portal: Log in to the netbanking portal of your registered bank.

Add Beneficiary: Add 'Fyers Securities A/c' as a beneficiary using the details below:

Virtual ID (Enter under Account No.): 358111358111

Bank: HDFC Bank

Account Name: Fyers Securities Pvt Ltd Client AC

IFSC Code: HDFC0000523

Branch: Richmond Road, Bangalore

Account Type: Current Account

Transfer Funds: You can now initiate your funds transfer using your chosen method (IMPS/NEFT/RTGS). Once the transaction is successful, your trading account will be updated automatically. You'll also receive an email confirmation and an instant push notification for your records.