Can I Open an Account for Someone Else with My Details at FYERS?

Is it possible to open a trading account for someone else using my own contact information?

At FYERS, opening an account on behalf of someone else using your personal contact details is not permitted. Each individual must open their own account using their unique contact information. This policy aligns with KYC (Know Your Customer) norms and is crucial for safeguarding the account holder's funds and investments. Additionally, accessing or trading in another person's account is strictly prohibited. This stance is in response to regulations from SEBI (Securities and Exchange Board of India), which emphasize preventing unauthorized access and trading in client accounts. To ensure compliance and account security, we implement several measures, including:
  1. Keeping records of signed documentation.
  2. Recording telephone conversations for verification purposes.
  3. Maintaining logs of online trades.
  4. Using an authorized Email ID for all communications related to your account.
  5. Documenting written communications.

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