Started in 2015 by Shreyas Khodey, Tejas Khodey, and Yashas Khodey, Fyers Demat Account is one of the best in the Industry.

They have more than 1.62 lakh clients from various parts of the country. They need to manage their operation online and with a back-office team.

Their support team is accessible anytime and has been helping clients with their queries within the provided TAT.

A Fyers account allows traders to monitor their activities, and their platform helps them with all the accessible tools.

In this Fyers demat account review, we will know their charges, account opening and closing procedure, documentation required, etc. Let’s start.

Broker Type Discount Broker
Active Demat Accounts 1.62 Lakh+
Account Opening Charges Free
AMC Free (limited period offer)
Free Account Opening Yes
Free AMC Yes

Fyers Demat Account Review by

Overall Rating

8.20 / 10

Account Opening Process

8.16 / 10


8.29 / 10


8.23 / 10

Products & Service

8.15 / 10


8.13 / 10

Fyers Demat Account – Top Features

The discount broker offers impressive features for the demat account holders. Here is the list of the key features you need to know before opening your Fyers demat account; it will help you make the decision.

  • There are no charges for account opening, and the AMC is also waived. It is an excellent opportunity to encash the users who want to start their career in trading.
  • Having more than a million active demat accounts is an outstanding achievement. Their strategies are unique and received a good response from the clientele.
  • Another earning opportunity you can encash for a lifetime is making money through referral income. With Fyers, it is 20% of the revenue.
  • This demat account can be managed online; the user receives periodic statements to check their holdings and can access the transaction history for taxation purposes.
  • A 2-in-1 account is offered here and includes a demat and trading account linked together to provide a better user experience.

Fyers Demat Account Opening Charges

Account Opening Charges


Annual Maintenance Charges (AMC)

Free (limited period offer)

DP Charges

Rs.15 per Scrip on Sell

Account Closure Charges


Reactivation Charges


Dematerialisation Charges


Call & Trade Charges

Rs.50 per Trade

Before initiating the Fyers account opening procedure, you should know their charges. To start with the account opening fees, there are no charges that any user needs to pay; yes, it is free!

Also, the company is not charging any AMC fees. The fee waived for Fyers AMC is the limited-time edition.

Also, there are no charges for account closure, dematerialisation, and reactivation. The call and trade charges are also 50 INR per trade.

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Fyers Demat Account Offers

Free Account Opening


Free AMC


Free Brokerage

Yes, Limited

Free Research Reports


Free Trading calls


Referral Offers

20% of Revenue

Fyers Demat Account Opening Process – Step-by-Step

Fyers offers a demat account opening procedure via online medium. If you are looking forward to opening your account, you can follow the step-by-step process mentioned in this section.

Keep your KYC documents ready to help you unlock your demat account easily. Let’s know about the Fyers demat account opening procedure.

How to open a Demat Account in Fyers? – Online Process

The online demat account opening procedure is straightforward; anyone can follow it without issue. Here is a quick guide on how to open a demat account with the Fyers.

  1. Hit the “open demat account” tab at the web page’s end.
  2. A form will open up; mention all your personal details and submit.
  3. Upon submitting the details, you will receive a call shortly from the company executive.
  4. They will guide you and provide all the required details and account opening forms.
  5. The KYC document should also be uploaded as mentioned in the list in the form.
  6. On submission, you will receive a confirmation from the company along with the login details.

How to Open a Fyers Demat Account? – Offline Process

Regrettably, the stockbroker no longer processes applications for new offline Individual Demat Accounts.

Following recent regulatory updates mandating Aadhaar linkage with PAN for all Demat Accounts, they have transitioned to an exclusively online account opening process to enhance compliance and streamline procedures.

Eligibility Criteria to Open Fyers Account




18+ Years

Active Bank Account


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Documents required to Open Fyers Account

PAN Card Copy


Identity Proof Copy

Any One (PAN Card, Aadhaar Card, Voter ID Card, Driving License, Passport)

Address Proof Copy

Any One (Aadhaar Card, Voter ID Card, Driving License, Passport)

Bank Account Proof Copy

Any One (Cancelled Cheque, 3 Months Bank Statement, Bank Passbook)

Copy of Income Proof for F&O

Any One (IT Return Certificate, Net Worth Certificate, Salary Slip, 6 Month Bank Statement)

Passport Size Photo


Signature on White Paper


IPV (In-person Verification)


The documents required for opening a Fyers account are listed below.

  • The client must provide their PAN card photocopy, which is compulsory.
  • For address and identity proof, they can submit documents like an Aadhar card, voter ID, Passport, etc.
  • Income proof is also required, like Income tax, salary slips, etc.
  • Bank account proofs must also be submitted so that they can bring a Bank passbook, cancelled cheques, etc.
  • Passport-size photographs

The above-listed KYC documents are compulsory and are required for submission to open a Fyers demat account.

How to Close Fyers Demat Account?

There is no online procedure to close your Demat account. Here are the steps that you need to follow for your query about how to close your Fyers Demat account.

  1. Open the official website of Fyers.
  2. Hit the support button and look for the downloads tab.
  3. Look for the “others” tab and hit on download “demat closure form.”
  4. Print it, then fill in all the particulars, and sign it off.
  5. You can courier it to the address mentioned in the form.

If you have made up your mind to close your Fyers demat account, then you should note the below listed particulars:

Before starting the closure procedure, you should clear all your dues, open a position, and transfer or sell securities to any other demat account.

The broker used to offer demat account services through a partnership with IIFL Securities, allowing customers to open CDSL and NSDL demat accounts.

Fyers exclusively serves as a depository participant (DP) with CDSL, providing only Demat Accounts.

The website offers three demat account closure forms, and users should download the form corresponding to the central depository through which their account was initiated.

Fyers Demat Account Review – Conclusion

Fyers is one of the premium service providers in the trading industry. The company was incorporated recently in 2015 but has penetrated almost every part of the country.

There are no charges for AMC and opening your account with them. In this review, we have covered everything about this demat account and hope it will help with the required information.

FAQs on Fyers Demat Account Review

Here is the list related to the Fyers Demat account.

How to create a Demat Account in Fyers?

To open a demat account, users can opt for online and offline modes. To extend online, you can hit the “open a demat account” button at the end of this webpage.

You will be guided further. For offline, you must visit the office to open your demat account.

How to delete a Fyers Account?

Download the closure form from the website to close your demat account. Please fill it out, sign it, and courier it to the organization to process it further.

What is AMC in Fyers?

Right now, the AMC is also waived off, and he sure does not need to pay anything to Flyers. But do know it is just a limited-period offer with them.

What are Fyers Account Opening Fees?

The user does not need to pay any account opening charges here.

How to find a demat account number in Fyers?

You can check the Demat account number from your account:

  • Login through My Account, then reach out to your profile and hit the “Manage Account” tab.
  • You can find your BO ID, also known as the demat number. The initial eight digits are the DP ID, while the last eight are the client ID.

How to get a Statement of Demat Holdings in Fyers?

The user can download the statement from the Fyers login account. You can go to my account section and find an option to download.

What documents are required to open a demat account in Fyers?

The KYC documents required for opening a demat account in Fyers are the Aadhar card, PAN card, income proof, bank account proofs, passport-size photographs, etc.

How long does opening a Demat Account in Fyers take?

The account verification process can take upto 5-6 days with Fyers.

How to change your bank account in Fyers?

  1. Access the ‘My Account’ Portal, proceed to the ‘Manage Account’ section, and view current bank details. To add another, select ‘Add New Bank(s)’.
  2. Enter the required bank details as prompted, referring to the indicated sections in the accompanying image.
  3. Confirm authenticity with a ₹1 credit to the added account. To set it as primary, check ‘Default Account’ (as highlighted).
  4. Allow confirmation pop-ups by selecting ‘Always allow’ to proceed.
  5. Visit the e-sign page, review document details, and ‘Proceed to sign’.
  6. Verify details, click ‘Sign Now’, input the Aadhaar number, and click ‘Send OTP’. Enter the received OTP and click ‘Verify OTP’.
  7. Your request is successfully submitted.
  8. New bank details take up to 48 working hours to be added.

Accepted Bank Proofs:

  • Bank passbook with six months entry (Latest)
  • Latest 6-month bank account statement
  • Cancelled cheque leaf

How to transfer shares from a Demat Account to a Fyers Demat?

To transfer your demat account to Fyers, you must submit a DIS copy to the branch and ensure the document is signed off.

Upon submitting the document, it will be sent for review, and you will receive the confirmation.


Customer ratings and reviews of Fyers Demat Account

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