October 24, 2019
Technology-focused stock brokerage firm, FYERS.in launches Demat Accounts for Traders to help them take delivery of stocks and give them better investing experience on the platform. The Demat Account will make the process of trading simple & hassle-free.
There are no hidden terms & conditions with regard to opening a Demat account as this will be completely free of cost for both existing and new clients. FYERS is also now at par with the well-established stockbrokers in terms of the important licenses, namely NSE, BSE, MCX & CDSL DP. The organization has also decided to completely nullify AMC charges altogether for both regular & BSDA accounts and levy the same DP charges for both types of accounts.
FYERS, makes sure to transfer the purchased securities to the clients’ Demat accounts on the settlement. This is to ensure that the holdings are safe in an individual Demat account and it is not misused in any manner and all the benefits of corporate actions will be received by the trader directly.
Launching this initiative for traders, Mr. Tejas Khoday, Co-founder & CEO, FYERS said, "Considering the nature of our business, a large part of it involves the management of client funds, we are committed to staying away from prop-trading activities which can potentially put the clients’ capital at risk at some point if the broker’s risk management fails on their own trades."
FYERS is India’s fintech stock broking firm and it is known for its superior trading platforms. The company is primarily focused on solving the problems faced by traders & investors in India with their platform centric approach. Their business model is fully online where anyone can open an account for free and get started without paying any fixed charges. Unlike any other stockbrokers in India which outsource their technology to third party software vendors, FYERS builds their trading platforms in-house. One of their signature platforms, Thematic investing is a menu-driven investing platform which makes it easy for millennial to invest their savings in an efficient & hassle-free way. fyers.in