Fyers Refer and Earn

Fyers, a discount stock broker that runs on a flat fee brokerage charge model, has a very simplified refer and earn policy. With that, it aims to bring more and more customers and grow its already existing active customer base of 98,458. In this article, we are going to discuss what Fyers refer and earn program is in detail. 

Let’s dive in to know the detail of how to earn additional money with the broker?

How to Refer and Earn in Fyers? 

Now before you learn about this program, it is important to have a Fyers demat account. Once you activate your account, you can further use the services provided by the broker, including the accessibility to the referral program.

To generate the referral link in Fyers, one needs to follow the simple steps given below:

• Go to the Fyers refer and earn page and enter the client ID that you received after opening your account with Fyers. 
• Your referral link is generated.
• Share the link with your friends on WhatsApp or copy it to share on other social media platforms. 

Once your friend or colleague or family member opens a demat account with Fyers using your link, it is counted as a successful referral. 

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Fyers Refer and Earn Amount

Every time someone joins and makes an account on Fyers using your link and trades on the platform, you get 20% of the Fyers brokerage they generate for the first year. 

For example, if your friend generates a total brokerage of ₹ 1000 while trading in trading segments other than Equity delivery (the brokerage charges are zero here), you will get ₹200 as your share of refer and earn a reward for the first year. 

Now, apart from this, there are a few benefits for referees as well. Some of these are:

1. Free demat account
2. No AMC for life if the account is opened till March 31, 2022
3. No brokerage on equity delivery
4. Flat ₹ 20 fees as brokerage charge across trading segments

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Fyers Refer and Earn Terms & Conditions

Even though Fyers has a simplified refer and earn demat account policy, it comes with a couple of terms & conditions. 

• You can only get a refer and earn a reward when your referrals exceed a minimum amount of ₹500 per month, i.e, your referred friends must generate a total brokerage of at least ₹500 per month to make you eligible to get a referral payout. 
• The refer and earn a reward for the current month will be processed in your account by the 10th or on 10th of the next month. 

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Conclusion

With a combination of attractive refer and earn programs, brokerage charges model, and Fyers account opening for free, the broker aims to acquire a bigger customer base. For its clients, it serves as a perfect opportunity to make some side income by only sharing a link. However, the need to generate a minimum brokerage amount through referrals every month might be a little hindrance in the mind of the clients. 

In a nutshell, if you want some side income alongside the income you generate by trading, referring Fyers to your friends or family members isn’t a bad idea.

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Want to earn instant cash using refer and earn demat account program? Fill in the details of the referral in the form below and earn the instant cash directly in your bank account.