To operate your FYERS demat account, you can give a POA to your broker to credit and debit securities in and out of your demat account.
As a user you have 2 options:
- Submit your POA request with a broker- which is an offline process. You need to download the POA application form, sign it, and send a physical copy to Fyers Corporate office address. Once the account team receives this request, it will take 7 working days to activate this process.
- Second option - You can use an online process which is EDIS (Electronic Delivery Instruction Slip). In this process, you will generate 6 digit TIPN on the CDSL website [One time]. Whenever you sell your holdings, you need to authorize the request on the CDSL platform via TPIN.
It's completely up to you, how you wish to operate your demat account. FYERS as a broker prefers users to use the second option so the company doesn't have any liability of your demat holdings.
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