Who is a custodial participant and how does it relate to NRI trading with FYERS?
A Custodial Participant (CP) is a member of a clearing corporation who facilitates trade validation and clearing on behalf of investors. For NRIs looking to participate in Equity Derivatives (F&O) trading in India, a CP is mandatory.
At FYERS, NRIs can trade in both Equity Delivery and Futures & Options (F&O) segments through a streamlined setup using a Non-PIS NRO Account. To comply with regulations, FYERS has partnered with Orbis Financial Corporation Limited, which acts as the CP for NRI F&O trades.
How the CP model works at FYERS?
| Process | Description |
|---|
| CP code generation | FYERS assists NRI clients in obtaining a CP code from Orbis during account setup |
| Validation of trades | Orbis validates each F&O trade executed by the NRI and clears it through the clearing corporation |
| Equity vs F&O | Custodial setup is required only for F&O. Equity Delivery trades do not require CP involvement |
What if...
| Scenario | What you should know |
|---|
| You only want to invest in Equity Delivery | No CP setup is required; a Non-PIS NRO account is sufficient |
| You want to trade F&O | You must obtain a CP code from Orbis via FYERS before starting |
| You already have a CP code from another custodian | Only CP codes issued through FYERS' partner (Orbis) can be mapped for F&O trading here |
If you're planning to explore F&O trading as an NRI, it's best to start the CP onboarding process early, as it involves document verification and coordination with the custodian.
To begin your FYERS NRI account and CP setup, submit your details here.
Last updated: 24 Jun 2025
Related Articles
Can an NRI pledge shares to trade in F&O with FYERS?
Yes, NRIs trading in the Futures & Options (F&O) segment at FYERS through a custodial setup with Orbis Financial can pledge shares to receive trading margins. Although the pledging isn’t processed directly through FYERS platforms, it is fully ...
Does FYERS offer reduced brokerage for high-volume NRI traders?
At FYERS, we believe in fairness, transparency, and equal treatment for all our clients—including Non-Resident Indians (NRIs). That’s why we maintain a consistent brokerage policy regardless of trading volume or account value. Brokerage policy for ...
Is a new trading account required if an NRI becomes a resident or if a resident becomes an NRI?
Yes, a new trading account is required when your residency status changes — from Resident to NRI or from NRI to Resident. This is mandatory under SEBI and RBI guidelines to ensure correct classification of trading accounts based on the investor's ...
How does TDS work for NRI accounts at FYERS?
TDS (Tax Deducted at Source) for NRI accounts at FYERS is processed in accordance with Indian income tax laws. FYERS ensures compliance by deducting TDS on capital gains arising from the sale of securities, following a systematic two-step settlement ...
Is FYERS API accessible to NRIs for trading?
Yes, Non-Resident Indians (NRIs) can access and trade using FYERS APIs after successfully opening an account with FYERS. The APIs offer a flexible and powerful way to place and manage trades, integrate with custom strategies, or automate trading ...