Important Update: We regret to inform you that the 30-Day Challenge has been discontinued until further notice. For more details, refer here.
Since we have introduced our flagship offer, FYERS 30 Day Challenge to incentivize the active trading community in India and devised a simple psychological reward system that keeps retail traders focused on remaining profitable, it has had a great response. As per our clients’ testimonials, FYERS 30 Day Challenge has encouraged them to improve their trading discipline to a great extent and in return, FYERS has rewarded them with a 100% brokerage refund and made their trading cost minimal or almost zero. FYERS embraces the active participation from the trading fraternity and we hope the skills you developed could possibly lead to something positive in the future.
To make the 30 Challenge even more exciting, here are the few updates based on the valuable feedback we have received from our active clientele.
- From now onwards, we will mention the number of times a client/participant has won the FYERS 30 Day Challenge. To facilitate this for clients who have already won challenges before, we will consider previous winning records as well and record it in your future certificates. So for instance, if you have already won 2 challenges before and you win the next challenge, the certificate will mention that you are a 3rd-time winner and so on.
- We have introduced Badges of Honour to recognize accomplishments in winning the 30 Day Challenge. This indicates the level of consistency in your trading performance. The Badge levels are as follows:
-
- Rookie - 1 Star (1 time in a row or 1st-time winner)
- Rising Star - 2 Stars (2 times in a row)
- Hattrick Hero - 3 Stars (3 times in a row)
- Prodigy - 4 Stars (4 times in a row)
- Wizard - 5 Stars (5 times in a row)
- We have introduced badges to recognize the consistency of those that are winning the challenge. You can measure consistency in two distinct ways.
- The number of times you have won the challenges - A higher number obviously shows your trading prowess but it could also be because you have taken the challenge several times.
- Your best winning streak - Since consistency is the most challenging feat that needs to be achieved and the badges of honor will record your most consistent winning streak.
Let’s assume you have taken 30 Day Challenge 6 times so far with the following results:
| History | Result |
| 1st time | Loss |
| 2nd time | Loss |
| 3rd time | Win |
| 4th time | Win |
| 5th time | Loss |
| 6th time | Win |
-You successfully completed the challenge for the first time in your 3rd attempt. You have achieved the “Rookie” badge.
- You successfully completed the second challenge in a row in your 4th attempt. You have achieved the “Rising Star” badge.
- You successfully completed the challenge in your 6th attempt but since you lost the previous attempt, you missed the Hattrick Hero badge and your 3rd certificate will still show “Rising Star '' until you work up a hattrick and so on.
- We have introduced the MCX exchange in this offer. Since our new Backoffice is live, From now onwards, your overall P&L will be considered to calculate your 30 Day Challenge result and all your trades i.e. NSE, BSE, and MCX will be considered while calculating the 30 Day Challenge result. This will increase your choice of instruments to trade in to stay profitable for the challenge. We have observed that commodity traders have had a slightly higher profitability ratio in the last 1.5 years. Perhaps this owes to the fact that there are fewer variables to deal with when trading commodities. The addition of MCX is also a boon as it gives you more time to trade during the day after Equity & Currency closing hours.
- In the course of the last 2 years, we have observed an increasing ratio of winners and some of them have become very steady over time. We hope to see increased participation over the next 1 year. Keeping in mind the changing landscape in the regulatory environment and our lean revenue model, we had decided to put an upper cap of ₹10,000/- (refer to this notice) w.e.f 1st November 2022.
- 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. When we introduced the challenge, our intent was to try and instill discipline among discretionary traders. Trading API is a feature that is most useful to enable semi-automated/programmatic trading. Since we offer our trading API for free and that it opens up an array of possibilities to win more consistently, we have decided against providing a brokerage refund to such clients.
- The restriction on the upper cap of ₹10,000/- will be applicable for all clients who have initiated the 30 Day Challenge from 1st November onwards.
- To be eligible for the 30 Day Challenge brokerage refund, the client needs to make a minimum profit of ₹3000 during the challenge period.
- In the past, there were scalability issues with our back office, which caused delays in reconciliation and processing. After we have upgraded to the new software, you can expect a faster turnaround time to issue certificates and brokerage refunds. Considering the increasing participation, we have revised the date to the 10th of every month. For instance, if you have completed your challenge in the month of February, the certificates & brokerage refunds will be processed on or before the 10th of March.
If there are any interim updates regarding this, you can check for the latest updates on our Notice Board.
To know about the New 30 Day Challenge Policy, refer to this blog. We hope to see some trading legends born at FYERS! We encourage you to spread the word! We want the retail traders in India to improve their ability to sustain their trading activities in the long run, and we will do our best to make that happen for you.
Happy Trading!
Where do we check, or how do we confirm the brokerage refunded in the ledger? I am not seeing any entry in my ledger.
@FYERS I was happy after seeing the 30 days challenge until i come across the point no 6
I just started the 30 days challenge and also have access to the trading API but not using the API for any trading. Since am new to the trading things, brokerage refund is the one which sounds exciting here.
Is there way to revoke the access of trading API?
If i revoke the API and be profitable, will i be eligible to get a brokerage refund?
I want to know the same.
I haven't gone for API. But can't find where to go for 30day challenge.
30 Days Challenge is an amazing technique which can help you to improve your trading & focus more on consistency & risk management.
However, it would have been great if the Team at Fyers was a little more honest here about the 30 Day challenge.
Since, you haven't made it clear, so let me take this as an opportunity to reveal the complete fact of this challenge.
So, to all my fellow traders, if you take this challenge & manage to win it with your honest effort then, please don't expect your brokerage refund. If you are lucky enough, then you might get your certificate.
I won this challenge 2 times in a row & I still haven't received my Certificate, neither have I received my brokerage.
As a Matter of Fact, according to their back office I have lost in one challenge but the Global P&L during the same period clearly indicates that I was in Profit.
The funny part is that when I intimated the customer support team about the fact that I didn't receive my brokerage, they asked me to check my bank statement properly. (LOL) How illiterate you thought I was that I can't even read my own bank statement?
I called 3 times & explained about my issues to 3 different people who would listen to everything quite patiently & at the end say that we have asked the relevant team to contact you, so let me get this straight, if you knew that you couldn't have helped me in case of 30 day challenge query, why did you waste my time? you should have told at the very begining that I am not skilled enough to help you so, I'll ask someone else to contact you The best part is that so called "fictional relevant team" never calls, It's been a 15 Days now & I am still waiting for that one call from Fyers.
The most hilarious thing about your customer support team is the fact that they ask at the end of call, "is there anything else that I can help you with?". I feel like saying "Bhai plz yeh ek problem solve karde utna hi kaafi hai!"
Even more interesting is the fact that they respond in the public forum very quickly but when you email them, they choose to ignore quite comfortably!
So, to the extremely efficient, hardworking, highly skilled & productive team at Fyers, if you choose to contact me for this, here is my client ID "FA0900", I hope that you are skilled enough to fetch my contact details with this, but that's only if you chose to help.
Honestly, I am disgusted by the type of service that I have received from Fyers. So, switching to Zerodha right away.
Hasta La Vista Guys!
Your Ex-Client.
Ashish.
They do the same thing with me.
Man , this much ranting about a simple issue of delay !! Please don't demotivate these guys for just a delay. Matter of fact, i am using zerodha from 2016 and we don't need monopoly in discount trading brokers...trust me.
Btw, I have won the challenge couple of times. And I got the refund and certificates. Of course it was delayed. But who cares. I am relying on the 5000 rs , that FYERS giving me back. All I need is the self trust of my trading skill and system.
And you have the right to get the cashback and certificate , once you win the challenge. But give them some time. Delay is mainly due to high growing participation . These are freebies , and above all not many discount brokers gives you 30 days challenge. FYERS is the one who listen to it's users.
Bro whats your definition of delay, it's been 5 months now & still haven't received it.
I had no clue that writing the truth can demotivate someone.
What did U say in the last line, Fyers listens to the users?? I wish I can show you my email chain that I had written for this issue, for which the ticket is closed without resolution. When you call them, they will listen to everything nd just say that I have told the team to look into it, they will contact you but they never contact us.
I also remember the name of the executive who told me this.
And thanks for this comment, recently I came across a new issue that I wanted to mention here. It happened with me in December that my open 30 day challenge was closed automatically, all records were erased from backend as if I never participated, thank to the screenshot that I had taken, I atleast have some proof that I took challenge.
Even for this issue they said they will look into it, guess what bro, no reply.
You are right bro, they listen to every problem, they don't provide resolution.
It would have been ok if I didn't get my brokerage back, but the thing that annoys me is their hidden rules that they never talk about. Look I understand that discount Broking could be a challenging business but atleast give me my certificate don't give the brokerage.
Dear Varun,
I am taking my words back. As I had successfully won the challenge. Got the brokerage refund and the certificate on 12th April 2022.
Thanks,
Team Fyers
I think FYERS should write something more meaningful than just writing " Mr XYZ has successfully completed the Fyers 30 days challenge for n times" on the certificates if you want to use the certificate as a marketing tool also.
The old certificate made more sense to the general public when shared on social media than the current one. Just my thought ...
Dear Sir,
I would like to put one suggestion, which is to kindly change the names of the winners which do not sound so good as to be related to trading. Especially the first name "Rookie" is the worst one, which means 'Novice' and doesn't give the impression at all which it is intended to. If not all, at least change the first one of "Rookie". Also the 4th one of "Prodigy" also is mostly referred to kids having exceptional abilities or qualities, so it also doesn't suit the 4th level in a trading scenario, it seems to be referring to some kid. My suggestions are given alongside the present names as follows:
Is anyone from Fyers team reading this as i see no response from the official team
I have completed my challenge but no response update from fyers ? what should i do ?