Why FYERS collects information during account opening?

Why FYERS Collects Information During Account Opening?

We only ask for details we genuinely need to confirm it’s really you, comply with Indian investment-account laws, and move your money safely (deposits, withdrawals, dividends).

PAN & Address — Mandatory

We use your PAN and address to verify identity and prevent duplicates, meet SEBI/KRA KYC rules, match trades and payouts for tax reporting, and keep your address on record with the depository/KRA.

Bank Account Linking — Mandatory

We link your bank so funds move only to/from your verified account, block third-party funding, and credit dividends to the bank registered in your Demat records.

Trading Segments — Optional

Your segment choices let us enable only the markets you want and avoid repeated checks later.

Income Proof for Derivatives (F&O) — Conditional

If you enable derivatives, income proof is required by exchanges/SEBI and helps align leveraged access with your financial capacity.

Nomination & Declaration — Optional

You must either add nominee(s) or formally opt out so securities can be transmitted smoothly if needed and to meet regulations.

Additional Info — Mandatory

We collect basic profile and compliance details (employment, income range, tax residency/FATCA-CRS, PEP) to meet KYC obligations, prevent fraud, and send essential account communications.

Live Verification — Mandatory

A quick selfie/liveness check confirms it’s you for e-KYC, and your signature is stored for Demat authorisations.

Last updated: 29 Sep 2025

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