Why is income proof necessary for F&O trading?
When trading futures and options (F&O) in any segment, it's imperative, as per exchange norms, to provide evidence of your income. This stems from the understanding that F&O is a leveraged derivative product. It's not best suited for individuals with limited resources or a low-risk appetite. We, at FYERS, align with these exchange guidelines to ensure our customers have the adequate financial standing for trading such high-risk products.
To validate your financial condition, here's a list of documents you can submit:
- Income Tax Return (ITR): A copy of the ITR you've filed with the Income Tax Department.
- Holdings statement: Your most recent holdings statement if you have a Demat account with any brokerage.
- Bank account statement: A statement from your current bank showing income activity over the last six months.
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What are the brokerage charges for NRIs trading in the F&O segment?
The brokerage fee for NRIs trading in the Equity Futures & Options (F&O) segment is ₹50 per executed order. There are also monthly clearing charges imposed by Orbis Financials Private Limited, our appointed custodian for clearing F&O trades, which ...
Can NRIs trade in the F&O segment?
Absolutely, NRIs have the privilege to trade in the Equity F&O (Futures & Options) segment when they open an NRO Non-Portfolio Investment Scheme (Non-PIS) Account. FYERS takes pride in being among the select brokerages that enable NRIs to actively ...
How long does it take to activate F&O for an NRO Non-PIS account?
The time frame for activating the Futures & Options (F&O) segment for NRO Non-PIS accounts primarily hinges on the KYC status of the NRI client. If the KYC status is marked as 'Non-Resident', the F&O segment is typically activated within 7-10 working ...
How to re-activate my trading account?
If your trading account has been inactive for more than two year, it may be deactivated according to SEBI guidelines. The process of reactivation is as follows: Log in to app.fyers.in. Click on 'Reactivate Account'. Select your Employment type and ...
Who issues the contract note for NRO F&O trades?
FYERS is responsible for issuing the contract notes for your NRO F&O trades. It's important to note, however, that these contract notes will not include the specifics of trade obligations. The details pertaining to trade obligations are recorded and ...