Terms & Conditions for API Usage

The following are terms of a legal agreement between you and FYERS.

The following are the terms and conditions (the “Terms”) for the use of API (Application Programming Interface) between the client and FYERS (defined herein).

FYERS Securities Private Limited (hereinafter referred to as “FYERS”) and its affiliates having its registered office at 901 and 902, 9th Floor, A Wing, Brigade Magnum, Amruthahalli, Kodigehalli Gate, Hebbal, Bangalore - 560092. FYERS may be referred to as “We”, “Our”, or “Us”.

FYERS is registered with the Securities and Exchange Board of India (“SEBI”) as a ‘stock broker’ having SEBI registration No.INZ000008524. FYERS is also a member of the National Stock Exchange of India (“NSE”), having NSE Member Code: 90061, the Bombay Stock Exchange of India (“BSE”), having BSE Member Code: 6697, Multi-Commodity Exchange of India (“MCX”), having MCX Member Code: 56100, National Securities Depository Limited (“NSDL”) having NSDL Member Code: IN304502 and Central Depository Services Limited (“CDSL”) having Member Code: 12089400.

NSE, BSE, and MCX shall be collectively referred to as the "Exchanges", and NSDL and CDSL shall be collectively referred to as the "Depositories".

The 'Client' is any individual or entity with FYERS assigned UCC (Unique Client Code) account approved by the Exchanges and Depositories. Clients can trade various securities through FYERS. The Client may also be referred to as “You”.

“FYERS Trading API” is a suite of APIs, developer services, and associated software offerings collectively referred to as “APIs”. The APIs provide programmatic access (including, but not limited to: placing, modifying, and canceling orders; managing funds and portfolios; accessing order and account-related information, etc.) to various exchanges via FYERS using a Client account.

The terms described in this document, and any additional terms, terms within the accompanying API documentation, and any applicable policies and guidelines concerning the use of the APIs are collectively referred to as the “Terms”. The terms described for the FYERS clientele mentioned here will be applicable as and so. Entities shall include, as the case may be, body corporates, ‘Partnerships’ under the Indian Partnership Act, 1932, ‘Companies’ under the ‘Companies Act 1956’ or the ‘Companies Act 2013’, where applicable.

These Terms shall be applicable to “the Client”. The Client shall mean, as the case may be in singular or plural, the client of FYERS or an entity (Authorized Persons) offering the APIs in turn to other Clients as end-users.

1. Account and registration  

In order to access certain APIs, the client will hold a valid FYERS account. The information provided by the client to FYERS will be deemed to be authentic, accurate, and up-to-date. In the event of any change in the same, the Client shall inform FYERS promptly.

2. API usage  

The APIs are meant to be used for building innovative investment and trading platforms to facilitate IBT (“Internet-Based Trading”) with the goal of increasing capital market participation in India. This may be for personal use, where the Client, as a client of FYERS, develops a private interface exclusively for customizing personal trading and investment experience, or this may be used for building a trading platform which in term will be offered to the public or other Clients of FYERS. The development of trading platforms is bound by various rules and regulations issued by the Government of India, SEBI, Exchanges, and Depositories. The Client is responsible for ensuring that he/she adheres to these above-mentioned rules and regulations, and seeking appropriate regulatory approvals, as the case may be.

3. Permitted access  

The Client will only access (or attempt to access) an API by the means described in the documentation of that API. Any circumvention of the methods described in the documentation may result in automatic termination of access to the APIs.

4. API rate-limiting  

  • FYERS may set limits and restrictions on the use of the APIs (for example: limiting the number of requests sent to a particular API) manually or automate checks to ensure the stability of the APIs.

  • If the Client needs to use the APIs beyond the limits imposed by FYERS, the Client shall apply and obtain express consent from FYERS by writing to the relevant department. FYERS may decline such a request without any reason.

5. Tracking and monitoring  

By using the APIs, the Client agrees that FYERS may monitor, track, and record all interactions and requests happening via the API, including the Client and the Client's end-users, to ensure the stability, security, and reliability of the API. FYERS is also mandated by law to report any suspicious activities under the Prevention of Money Laundering Act 2002 and other laws, rules, regulations, and circulars issued and passed by the Government of India, SEBI, Exchange, Depositories, or any statutory authority.

6. Automated trades  

The APIs are not meant for placing fully automated trades (trades placed without any manual intervention). If the Client proposes to use the APIs for full automation, the Client shall directly seek necessary approvals from the relevant statutory authorities/exchanges/regulators.

7. Uptime

  • The API response and account access times may vary due to a variety of factors, including, but not limited to, trading volumes, market conditions, system performance, technical and other factors. Market volatility, volume, and system availability may delay account access and trade executions.

  • The uptime and availability of the APIs may be affected by technical or other factors within or outside of FYERS’ or unforeseen circumstances, including natural disasters. 

8. End-users of the Client  

The Client may use the APIs to build platforms to offer it to other clients of FYERS (after obtaining the required approvals from the relevant exchange and statutory authorities). Neither FYERS nor anyone affiliated with the APIs shall be responsible for the losses suffered by the Client and/or any third parties that may arise from technical malfunctions of the platform built by the Client or using the APIs. The end-users of the Client and FYERS’ clients are bound primarily by the terms and conditions they agreed to at the time of their account registration with FYERS.

9. Ownership  

  • As the APIs are restricted to and only work with the accounts of FYERS, all end users of the Client's API-enabled platforms are exclusively client of FYERS.

  • The existing Clients may promote the services offered by FYERS to any third party who shall become a 'Client'. Clients shall have exclusive ownership only over their respective data and the API. FYERS may offer any service or offer to any of its Clients at any time.

10. User Privacy

All Clients and Authorized Persons will adhere to FYERS’ privacy policy and applicable data privacy laws and regulations and provide a privacy policy for their end-user that is clear and accurate.

11. Prohibitions  

When using the APIs, the Client shall not, in an individual capacity or acting on behalf of any other person or entity:

  • Permit the use of the APIs by any third party.

  • Perform an action of introducing to FYERS’ products and services any viruses, worms, defects, Trojan horses, malware, or any software/code/items of destructive nature;

  • Defame, abuse, harass, stalk, or threaten others;

  • Interfere with or disrupt other APIs or the servers or networks providing the APIs;

  • Promote, instigate, induce, or facilitate unlawful online gambling or illegal, immoral, or unwarranted activities, commercial messages, or advertisements.

  • Reverse engineer or attempt to extract the source code from any API or any related software, except to the extent that this restriction is expressly prohibited by FYERS and the applicable law.

  • Use the APIs to process or store any data that will, in turn, invade the privacy of the end-user or/and Clients.

  • Remove, obscure, or alter any FYERS terms of service or any links to or notices of those terms.

12. Confidentiality

  • The Client’s credentials (such as passwords, API keys and secrets, and Client IDs) are intended to be used only by the Client and nobody else. The Client shall keep the credentials secure and confidential and shall not share the same with any third party, including other API clients or other Clients.

  • FYERS may communicate to the Client confidential information, which may include any materials, discussions, and information that are marked “confidential” or that would typically be considered confidential under the circumstances. In the event the Client receives any such information, then the Client shall not disclose the same to any third party without FYERS’ prior written consent.

  • Only upon the written consent of FYERS, the Client may permit itself, its end users, or others acting on the Client’s behalf to, do the following with content returned from the APIs:

  • Scrape, build databases, or otherwise create permanent or temporary copies of such content or keep cached copies with the intent of redistribution.

  • Copy, translate, modify, create a derivative work of, sell, lease, lend, convey, distribute, publicly display, or sub-license to any third party.

  • Disclose the source or ownership.

  • The Client shall not remove, obscure, alter or infringe any copyright, trademark, or other proprietary rights notices; or falsify or delete any author attributions, legal notices, or other labels of the origin or source of the material.

13. Warranties    

  • FYERS does not make any promises, commitments, guarantees, or issue any warranties regarding the operation and/or success of any APIs. Further, FYERS will not be liable or responsible for any loss of profits, revenues, data, or financial losses; or damages, whether indirect, special, consequential, exemplary, or punitive.

  • The Client warrants that any content, data routed into or used with the APIs by the Client are acting on their behalf or their end-users.

  • In the event the Client is representing an entity, the Client warrants to have the necessary authority to bind that entity to these Terms and warrants that the Client has the necessary authority to accept these Terms on behalf of the said entity.

  • For the purpose of these Terms, all warranties, guarantees, conditions, representations, and undertakings issued under the General Terms and Conditions or under any other document are excluded.

14. Exclusivity  

The Client acknowledges that FYERS may develop products or services that may be similar and may be in direct or indirect competition with any platform that is built using the APIs. The ownership of such products or services developed shall belong exclusively to FYERS.

15. Termination  

  • These Terms shall be effective until terminated by FYERS. The user rights of the Client under these Terms will stand automatically terminated and cease to be effective without prior notice from FYERS if the User fails to comply with any of the terms and conditions mentioned herein in the Terms.

  • In the event, the Client violates any of the Terms, conditions or obligations under these Terms and fails to rectify/correct such breach or default within one (1) day after a written notice is issued by FYERS, your relationship with FYERS shall be terminated. Upon termination, FYERS does not hold any liability towards the Clients.

  • In the event, the Client intends to terminate these Terms, the Client must provide FYERS with seven (7) days prior written notice.

  • In any case mentioned hereinabove, upon termination, the Client shall cease the use of the applicable APIs. Further, FYERS shall delete all cached and stored content that was permitted by FYERS.

16. Surviving Provisions

  In the event of termination of these Terms, those terms that by their nature are intended to continue indefinitely will continue to apply.

17. Indemnification  

1. The Client agrees to indemnify and hold FYERS, its affiliates, service providers, officers, directors, and employees against all liabilities, damages, losses, costs, fees (including legal fees), and expenses relating to any allegation or third-party legal proceeding to the extent arising from:

  • Technical faults or the limitations of the APIs;
  • The misuse or illegal use of API by the Client or their end-users;
  • Violation or breach of these Terms by the Client or their end-users;

2. FYERS will not be responsible for loss of profits, revenues, or data; financial losses; or damages whether indirect, special, consequential, exemplary, or punitive damages.

18. Governing Law/Forum 

Notwithstanding the adjudication process provided by the SEBI or the Depositories or the Exchanges, these Terms shall be governed and interpreted by the laws of the Republic of India. Only courts in Bengaluru Urban, Karnataka, shall have the sole and exclusive jurisdiction to resolve any disputes hereunder.

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