Hey @maxg,
We have introduced a small account opening and Demat fees to cover the cost of acquisition to some extent. Fyers is technology first brokerage and be least assured on the ease we provide while trading and investing with an exclusive 30 - Day challenge.
Was actively considering shifting base, however now having second thoughts if I am to pay all these charges.Further have asked some clarification from your rep but he has not even replied to my mail.
 

vicky_ag

Well-Known Member
Hi @vicky_ag , We regret the inconvenience caused due to the delay in account opening. We request you kindly mention your registration details by writing to [email protected] or here. We will arrange a callback at earliest. Thanks!
I somehow got through the registration phase and honestly the experience has not been smooth.

Now I received the client id and password email 2 hrs back. and I can't login; I get an error "User doesn't exist". Support tells me that I can login after 12am or before market hours. And the email says - in small font no less - that account activation will take 24 hours.

This is the first time I am seeing a site where the login is generated but is not "activated". I mean how hard it is to send details only after it is activated.

I don't understand how can you guys call yourself technology first brokers when you guys can't do even small tech steps correctly. You are making Zerodha look like Google/Facebook. This might have been the best use of 470 for me, at least I can rest assured I am in best hands with Zerodha for now.
 
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I somehow got through the registration phase and honestly the experience has not been smooth. Now I received the client id and password email 2 hrs back.

Guess what, when I login I get an error "User doesn't exist". I don't understand how can you guys call yourself technology first brokers when you guys can't even generate login info correctly. Just simple procedures suck so bad. You are making Zerodha look like Google/Facebook. Honestly, this might be the best use of 500 Rs for me. At least I wont lose lakhs trying to trade with your platform.
My login id password started working after 24 hrs of receiving it. you can try it tomorrow.
 

Tejas Khoday

Co-Founder & CEO, FYERS
I somehow got through the registration phase and honestly the experience has not been smooth.

Now I received the client id and password email 2 hrs back. and I can't login; I get an error "User doesn't exist". Support tells me that I can login after 12am or before market hours. And the email says - in small font no less - that account activation will take 24 hours.

This is the first time I am seeing a site where the login is generated but is not "activated". I mean how hard it is to send details only after it is activated.

I don't understand how can you guys call yourself technology first brokers when you guys can't do even small tech steps correctly. You are making Zerodha look like Google/Facebook. This might have been the best use of 470 for me, at least I can rest assured I am in best hands with Zerodha for now.
Hey Vicky, I totally understand your frustration. From a technology standpoint, it is easy to implement it. But from an operations standpoint, it takes additional time because it needs an extra layer of work to fulfill the exchanges' requirements. We're trying to do away with the extra time by automating the integration process with the exchange portal.

Broking back-end is cumbersome with many nuts and bolts to it and while we can make it happen, they keep changing the rules every now and then so it takes time. I can't go into the details but I hope you get the picture. Most people are not aware of this, and I don't blame you for not knowing but KYC and account opening procedures have become ever more complex despite being in the digital age. Right now, the industry is grappling with a new set of rules put forth by SEBI which can further slow down account opening. It's not about technology.

Even Facebook/Google will take time to activate an account. It's not as easy as creating an online profile/ID.

Thanks.
 

vicky_ag

Well-Known Member
Hey Vicky, I totally understand your frustration. From a technology standpoint, it is easy to implement it. But from an operations standpoint, it takes additional time because it needs an extra layer of work to fulfill the exchanges' requirements. We're trying to do away with the extra time by automating the integration process with the exchange portal.

Broking back-end is cumbersome with many nuts and bolts to it and while we can make it happen, they keep changing the rules every now and then so it takes time. I can't go into the details but I hope you get the picture. Most people are not aware of this, and I don't blame you for not knowing but KYC and account opening procedures have become ever more complex despite being in the digital age. Right now, the industry is grappling with a new set of rules put forth by SEBI which can further slow down account opening. It's not about technology.

Even Facebook/Google will take time to activate an account. It's not as easy as creating an online profile/ID.

Thanks.
Please do tell which service on Google/Facebook takes time to activate?
 
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vicky_ag

Well-Known Member
I received another email with login details. And now login works fine.
Now I have another issue. I need to update the password before I can use the account. And I keep getting - Something went wrong. Please try again later.

This has to be one of the worst account opening experiences yet.