
Important Update: We regret to inform you that the 30-Day Challenge has been discontinued until further notice. For more details, refer here.
We've been figuring out how to incentivize the active trading community in India in the best possible ways. As you all know by now, we believe in continuously interacting with our customers and delivering features based on popular demand. We enjoy this interactive way of working with our growing community of clients.
Off late, we conducted closed-door surveys and decided to introduce the "FYERS 30 Day Challenge." It is a simple psychological reward system that will keep traders focused to remain profitable for the duration of the challenge, which is 30 trading days. If you trade profitably for a period of 30 days, your brokerage will be refunded.
The logic: Making money is in itself an incentive to be profitable, it's just that consistency is something that needs to be developed over time and with repeated efforts. If you can measure your own performance over 30 trading days, then there will be a conscious effort to always be diligent. Trading is not a collaborative activity, and hence, certain objective goals like time-bound challenges can help sharpen you up, especially when you can't get feedback on a regular basis from the trading fraternity. Also, various research suggests that it takes approximately 1 month to start developing new habits and break old ones. That's why we decided to keep a time frame of 30 days for the challenge because it coincides with the comfort zone for measuring performance.
How the 30 Day Challenge works: If you have traded profitably for the duration of 30 trading days, your brokerage will be refunded. Keep in mind that you will have to be in net profits after accounting for brokerage charges and all the transaction costs. You can begin the challenge at any time you want throughout the year without any restrictions. Also, you can take the 30 Day Challenge consecutively throughout the year. Upon beginning the 30 Day Challenge, your time starts ticking. Below are some points that you should know about before you start:
1. The end date is calculated based on the number of trading days within the date range.
2. To be eligible for the 30 Day Challenge brokerage refund, the client needs to make a minimum profit of ₹3,000 during the challenge period.
3. Brokerage will be refunded up to a limit of ₹10,000 per challenge. (Introduced w.e.f 1st November 2022. Read more.)
4. Profitability is calculated across all segments except Equity Delivery (CNC) and Mutual Funds. Profits made in these segments will not be considered as we don't levy any brokerage for investments.
5. Dividends won't be considered.
6. Brokerage refunds to the winners will be processed on or before the 10th of every month.
7. Clients who have been given access to Trading API can take up the 30 Day Challenge. However, they will not be eligible to get a brokerage refund from us. We will continue to issue winners’ certificates and recognize their accomplishments going forward.
8. The F&O position/s taken before the start of the challenge or during the challenge (but not closed during the challenge period) will not be considered for calculating the 30-Day Challenge P&L.
How to get started: Visit My Account portal which is accessible from the Fyers Web, Go to "30 Day Challenge" and click on "Start Challenge Now". Your start date, end date, and timeline will be displayed in the panel. Below, you will get a section named "Past Challenges" that shows your previous challenges that were taken and the results therein.
Be recognized as a Winner: Upon winning the FYERS 30 Day Challenge, we will send you a certificate of recognition to your registered e-mail ID for trading profitably during the period. We can also recognize your achievement with your consent by posting your profile on our website in a post and on social media. Completing 30 Day Challenges consistently gives us a chance to observe your skills and it could possibly lead to something positive in the future.
Final notes: This initiative is a result of brainstorming with our clients who have years of experience trading with other stockbrokers. Our aim is to encourage you to be sustainably profitable all year round even if it will impact our revenues. At the end of the day, our long-term sustainability depends on the profitability of our customers. We understand that each challenge may not be a one-way journey to success and all good things require time. At our end, we're taking steps to build a healthy environment for active traders in India. If you appreciate what we are doing, we encourage you to refer your friends to us.
Update in January 2020: We have further refined the challenge and introduced some exciting updates in 2020. For more information, read this blog post.
Latest updates in November 2022: We have implemented a new 30 Day Challenge Policy applicable from 1st November 2022. To know more, refer to this blog post.
25 of 29 replies
This is one of the reason I opened account in Fyers please do keep up. Don't remove after you get huge client base as Zerodha did .
Completed challenge successfully but brokerage not received,still it showing pending,how long it will take for you process,4th sept
Before the 10th of the next month.
@FYERS don't think that you are expanding because your services are good... You are expanding because of your 30 day challenge only
Fact
This is a nice initiative to reward the consistent traders and to bring in the discipline into trading.
Does 30 day challenge refund admin square off charges?
In 30 day challenge, do we have to trade for regular 30 days or we can skip some days?
No such restrictions,
Even if you skipped 29 days out of 30 day period, you will still be eligible if you are net profitable during that period.
30 day challenge has not been computed. It was due on 10th May. If it is delayed, please mention it on notice board. I didn't get a reply on support ticket too.
@Sounder Rajan G S @Vanshika Singh @Tejas Khoday
Hey @Koustubh Masurkar , We have informed our team with regards to the same. It'll be done soon. Kindly provide us with the ticket number, we'll update you in sometime.
We regret the inconvenience caused.
@Sounder Rajan G S Ticket number is #9213710
How to raise ticket.
Hi Koustubh, Sorry for the delay in my reply. We hope your issue had been resolved.
Hi @indresha indri ,
Send a mail to support@fyers.in along with your query. A ticket number will be generated and the same will act as the reference.
Hope this helps!
You WON the challenge but since you are an Active API user the refund is not possible.
@Sounder Rajan G S Could you please explain this ? Because I tried to find any point related to usage of API in this article.
not able to find or understand anything related to this. But this is what Fyers guys replied when I asked about my brokerage refund after 30 days challenge. Looks like they just try to find excuses if brokerage if high. Btw thinking to stop trading in Fyers now because of this. Atleast one should be transparent about their policy
https://fyers.in/fyers-30-day-challenge-updates-in-2020/
can i take positional trades in weekly options in index in 30 days challenge
HI Tejas Khoday,
Can you please credit withdraw funds from fyres demat account end of the day(EOD) for eample
I was withdraw funds monday at afternoon 03:45 pm but funds coundn't credit in my bank account till Tuesday(next day) 02:00 PM.
Why I am addressing this issue unable to trade tuesday, why beacuse the funds which are not in my either demat account or in BANK account.
Can plz reslove this tarsfering issue as much as early.
This is a good initiative. Please help with below query.
If we don't succeed in the 30 days challenge after we opt for it, will there be an adverse impact as in any additional charges will be deducted or next challenge will consider the loss from the previous challenge.
No, @Suresh P, nothing like that. If you don't win the challenge, you'd not be incurred any additional charges. The regular brokerage plan would levy though.
Once you start a fresh challenge, the profit and loss from the day you started the challenge will be accounted for and not before.
Hope this helps!
Hi All.. one question.. the "stocks in our Holdings".. their P & L will also be considered or not?
Lets say i have done only 2 trades(equity market - stock buying and selling) in a given month. on one stock trade i made a loss of 500 Rupees and another stock, i still not have sold it.. the 2nd stock is still in my account and my "Holdings P&L" is at 1000 Rupees.
now, to win the competition, i should sell my 2nd stock(so that my P&L will become +500Rs) or not needed?
@KLN Vara Prasad @Vanshika Singh tagging for your suggestions, thanks.
i mean, the "stocks in our Holdings".. their P & L will also be considered or not?
Hey @mangalam sekar,
No, the P&L of your holdings will not be considered in the calculation of your 30-day challenge. It will come under CNC. And hence, will not be taken into consideration for the challenge.
Hope this helps!
Hi @Vanshika Singh @Tejas Khoday ...As per this image(xs14479), i thought my 30Day challenge gets completed on Sep1st(including Sep 1st).. but it seems i was wrong.
on my account i have a stock which gave enough profit so that i can be a winner.. monday and yesterday i was not able to sell that stock, so now i am a loser!
also monday we lost precious 3hrs of trading. could you pls consider this case and accept me as winner of the 30days challenge. thanks.
Dear Fyers Team,I have a doubt, In 30-day challange, would you also count the MTM balance in Net P&L, or you calculate Only booked profit and loss? Because your profit and loss statement is showing, both realized and unrealized in net profit. Kindly clarify please.
Thank you,
Regards,
Chandrasekhar
Hey @Chandrasekhar Nagulapati,
Only your Net P&L would be considered in the computation of 30 Day Challenge reports.
Hope this clarifies!
this initiative is definitely well thought of. frankly, i switched to Fyers not because of 30 days challenge but because of smooth flow of trading using trade.fyers.in interface. and due to no charges towards investing and pledging....but interface is the key reason...all the best...hope you also come up with Margin trading facility (MTF) soon like BajaFinance and AngelOne.
Does holding or carrying forward profit in the f&o segment also count in this challenge?
@KLN Vara Prasad @Vanshika Singh tagging for your suggestions, thanks.
Hi @Hemant Singh,
Your Holdings and Open positions will not be considered for your 30 Day Challenge.
Hope this addresses your query!
Hi Fyers Does the profit needs to be Gross profit or Net profit of Rs 1000/- ?
Your Net Profit shall exceed 1000/- excluding brokerage and all the other transactions charges.
My Gross PL is +Rs 1210/- and my net PL is -Rs 5020/-. Will I get my certificate?
Hi Shubhrajyoti,
Your Net Profit shall exceed 1000/- in order to win the challenge and be eligible for the certificate.
Hope this addresses your query!
Hi,i completed 30day challenge with won on 04/05/2022. But no one email certificate and no refunds till now
Hi If i got the Fyers API access before starting the challenge, and i never punch a single order using Fyers API, will i still be eligible for brokerage refund (ofcourse after crossing net 1000 pnl)
@Vanshika Singh @Sounder Rajan G S
@Vanshika Singh @Tejas Khoday @Sounder Rajan G S could you please take little effort to respond?
What they check is, if your trading API is activated or deactivated, and not if you have actually passed any orders through it during the challenge period.
If you have the trading API activated, you are not eligible for the brokerage refund.
https://community.fyers.in/question/how-to-know-or-find-out-if-api-is-activated-or-not-for-one-s-a-c-624983ec78d8f41d8d652a7f
Hi
While activating the account, Fyers WEB platform requires compulsory activation of API access , and this disqualifies one to participate in 30 day challenge to get the brokerage refund, even when meet all other terms for 30 day challenge.
Do have the option to deactivate API access and get participated for brokerage refund through 30 day challenge?
@Vanshika Singh
@Vanshika Singh @fyers123# @Tejas Khoday I had not traded via go charting but used it for watching open interest.
I had not placed a single order from there.
Shall I be eligible for brokerage refund??
I have the same query. I have not punched orders using API (though I have access to APIs), all were manual orders. Should I be eligible for a brokerage refund if my net profit is above 1000/-?
Even I was rejected from 3 months brokerage refund. When asked they said my API keys are active. Since opening a fyers account, I have not even punched a single order from a third party or any API apps . ALL orders were punched from FyersWeb only.
When Fyers was promoting GoCharting around 6 months ago, I did log on to GO charting and check out the interface( pls note I didn't even place a single order there, both paper or real)
Is that the reason why my API Key is active?
Fyers needs to be more transparent on this. Also when I started participating in the challenge( since August 2021), at that time, terms and conditions didn't even mention API conditions. It was later inserted in terms and conditions of the 30 day challenge
Is it Mandatory to trade everyday after starting the challenge to complete the challenge or it will count only the day when I trade? I'm asking this because I do not get time everyday to trade due to my job schedule. @FYERS
1) Not mandatory to trade every day.
2) 30 days counter starts on the day you activate the challenge. ( excluding weekends )
I completed 30 days challenge and it showed won but I didn't get certificate
Same case , twice won 30 Day challenge, No certificate yet.
Will Fyers take action?
Completed 30 days challenge on 05/04/2022 but no communication yet on certificate or refund yet, here is my challenge details, pls let me know when I will get brokerage refund as mentioned.
I have few questions about 30 days challenge...
These are questions comes to my mind as I have some trade for next challenge which started before start date.
Thanks,
Sajid