Is it possible to open a trading account for someone else using my own contact information?
At FYERS, each investor must open and operate their own account using their personal contact details. For security and regulatory reasons, it's not permitted to open an account on behalf of another person using your mobile number, email ID, or credentials.
Why personal details must match?
As per SEBI’s guidelines on preventing unauthorized trades, all account-related information—such as login credentials, trade instructions, and fund transfers—must be tied directly to the individual account holder. This ensures both legal compliance and the safety of the investor's assets.
FYERS implements the following safeguards:
- Verification of documentation signed by the account holder
- Recording of all telephone conversations
- Logging of all online activity and trade history
- Account actions only from the registered email address
- Archiving of all written communications
Warning: Trading or accessing another person’s account, whether with or without consent is a regulatory violation and may lead to permanent account suspension or legal action.
What if...
| Scenario | Resolution |
|---|
| You want to help a family member open a FYERS account | Guide them through the self-onboarding process using their own mobile number, email, and documents. |
| You're operating someone else's account with consent | This is not allowed. Each account must be operated solely by the account holder. |
| You're unable to use your contact details due to verification issues | Reach out to FYERS support for help in verifying and updating your personal contact credentials. |
Last updated: 27 Jun 2025
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