I used to be attempting to open an account on-line with fyers. After my paperwork have been verified by their government, he stated he was going to do the e-signing course of and requested me to share aadhar OTPs which I obtained on my telephone. Two OTPs have been generated and I’m guessing one was for an fairness account and one was for a commodities account as i needed to activate each.
I used to be a bit skeptical about sharing the OTPs with him and why he was doing the e-signing course of himself as an alternative of letting me do it alone however I assumed it was going to be effective. Now I’m truly nervous that he might’ve finished some sort of fraud utilizing these OTPs since he additionally has all my paperwork like PAN, and so forth. My fyers account did get created in the long run however is there something fishy he might’ve finished or am I simply being paranoid?
Additionally, I used to be a dumbass and I gained’t do such silly issues once more.
So far as i do know, fyers is honest with every little thing i take care of. What occurred with you can be legit. However nonetheless im questioning what would somebody will achieve with AADHAR OTPS? If its transaction, you have to be nervous.
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Nothing to fret. Not solely fyers many brokers doing this
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Even when it wasn’t a rip-off, it’s fairly dumb. Fyers may not rip-off you as an organization, however a person who works at Fyers can go rogue and rip-off you.
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Thanks for the replies guys. My first thought was that he might’ve modified my aadhar’s telephone quantity to his personal quantity for no matter motive utilizing the OTP. Then I assumed what if he creates his personal buying and selling account with another dealer utilizing my paperwork and OTP to do some buying and selling exercise and the revenue tax from that will get placed on me? I don’t know if that’s even attainable lol. I’m in all probability overthinking this manner an excessive amount of.
Fyers certainly one of worst brokers. They make their very own guidelines. They don’t observe the legal guidelines in india.
Steer clear of them.
They have been extra fascinated by getting my aadhar than opening a account.
They’re a shady firm.
Not attainable, we’ve financial institution accounts linked to our buying and selling accounts. How will he switch cash to that buying and selling account? The checking account must be in the identical identify, and solely you’ve entry to your checking account.
That’s a bolt from the blue.
Thanks for the heads up
I had closed my fyers account again in 2018. I despatched bodily closure kind to them. I assumed they’d closed my account. However since few months I began to obtain Dealer’s report on my telephone. I questioned why fyers is sending me together with Zerodha as I had closed account with fyers. I contacted help and to my shock they advised me that my account continues to be energetic with them in 2023. How is that this attainable even once I had despatched them a closure kind.? Now I ask them to shut my account. They do have facility to shut account on-line which doesn’t work. They’re asking me to once more ship them Demat closure kind by courier. I sincerely doubt about honesty of Fyers.
SJM:
They’re asking me to once more ship them Demat closure kind by courier.
A number of years in the past, brokers have been hesitant to shut accounts even while you requested it. They didn’t need the shopper base to go down.
Not too long ago, after the competitors shifted to counting energetic accounts, brokers are actually pleased to simply accept your account closure request.
Simply resubmit the shape once more; it’s not difficult.
Ship them closure kind once more and protect the courier receipt. In the event that they don’t course of, complain to SEBI SCORES