Discount Broker Depository: CDSL
3

Fyers is a discount broker founded by the Khoday brothers in 2015. It is one of the newer entrants in the discount broking industry with active client base of 1,47,779 till July 2022.

Product Basket

The segments in which you can invest (includes Equity, Commodity, Currency, Futures and Options) through this broker

Equity
Commodity
Currency
Futures
Options
Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charges

Free

Account Maintenance Charges

Free

Call & Trade Charges

₹50
Brokerage

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

0.03%

Equity Futures Brokerage

0.03%

Equity Options Brokerage

₹20

Currency Futures Brokerage

0.03%

Currency Options Brokerage

₹20

Commodity Futures Brokerage

0.03%

Commodity Options Brokerage

₹20
Margins

Equity Delivery Margin

1x

Equity Intraday Margin

5x

Equity Futures Margin

1x

Equity Options Margin

1x

Currency Futures Margin

1x

Currency Options Margin

1x

Commodity Futures Margin

1x

Commodity Options Margin

1x
Trading Platforms Learn More

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.

Fyers Web Fyers App Fyers One Fyers Direct Fyers Thematic My Account School of Stocks (SOS)
Pros

Advantages and Strengths of this broker.

  1. Fyers provides a single margin account which allows users to use funds from the same pool for various asset classes.
  2. Fyers allows traders to place orders, track P&L, support & resistance right and corporate action from the charts.
  3. The platform provides the largest collection of historical data on stocks. The data goes as far back as 25 years.
  4. Fyers provides a wide selection of time frames for highs and lows of stock prices. The time frames consist of 1 day, 5 days, 1 month, 3 months, 6 months, 1 year and Year to Date.
Cons

Disadvantages of this broker that it needs to improve upon.

  1. Fyers doesn’t have candlestick indicators for trading.
  2. The platform doesn’t provide screeners for investors or traders.
  3. In options trading, greeks are not shown on the chart itself.
  4. While some competitors have Whatsapp support to assure customers of a callback, Fyers does not provide this feature.
Additional Features

Extra features provided by the broker at little or no extra cost. Like research reports, SMS alerts etc.

3 in 1 Account
Free Trading Calls
Free Research Reports
SMS Alerts
Margin Funding
Margin Against Share
Other Investment Options

Services provided by the broker for investing in other financial assets such as Mutual funds, Insurance, Bonds etc.

Mutual Funds
IPO Platform
Bonds & Debt
Exchange Traded Funds
Insurance
Finology Ratings & Reviews for FYERS

Ratings are provided based on customer service, usability, charges and overall average. Reviews are based on positive and negative aspects of the broker that help you understand this broker better.

Charges

(3)

Usability

(3.8)

Customer Service

(3)

Charges Review

  • Fyers provides its customers with a very affordable offering as it does not charge A/c opening charges or Maintenance Charges.
  • Fyers also does not levy gateway charges, pledge charges, dematerialization charges, or cheque bounce charges.

Customer Service Review

  • Call support is available to users of the platform. However, based on the user review, the response is not satisfactory.
  • Customers have faced issues like unhelpful responses and delays in resolution.

Ease of Use Review

  • Fyers has an easy-to-use interface. Users can access all the information available on charts by right-clicking said chart.
  • Fyers also has both web and app-based platforms to allow its users to access their portfolios from multiple devices.
  • Fyers also has an education platform called School of Stocks that allows users to learn various aspects of the stock market with active feedback to its comments.

Account Opening Procedure Review

  • Account opening with Fyers can be done online and offline. The offline procedure is slow due to the need for document verification which takes time. However, it is suitable for people who are not very tech-savvy.
  • The online account opening process is fluid and can be done through the Fyers app. The account opening is validated through In-Person-Verification. This makes the account opening process streamlined and clutter-free.
  • Currently, Fyers does not provide NRI account opening.

Why Choose FYERS? Know Everything about FYERS here.

Verdict

Fyers has an economic model with no account opening or maintenance charges. It has a user-friendly interface as well as an education platform (School of Stocks). The platform provides a mobile app as well as a web-based interface.
Based on the features provided by the platform, Fyers is more suitable for traders than investors.

If you are an investor, the broker provides you with

  • Free Demat Account

  • Zero Account Maintenance Charges

  • Various direct mutual fund schemes through their FYERS Direct platform

  • Several theme-based investments through their FYERS Thematic Investing platform

  • Portfolio analyzer report to analyze and manage your holdings risk.

  • Pre-apply for IPOs

If you are a trader, the broker provides you with

  • TradingView charts where you can trade on charts

  • Drawing tools and 100+ technical indicators

  • FYERS One trading terminal.

  • Single margin account where you can trade in Equity and Commodity segments with a single fund allocation

  • 30 Day challenge where you can get a brokerage refund of up to ₹5,000

  • Enterprise-Grade Trading APIs for Free

Trading Tools

Fyers Web

A web trading platform built using the TradingView library. It has various features, including trading directly from charts & price ladder, exit orders, 24+ years of EOD data, 100+ chart indicators, drawing tools, corporate action, etc.

Fyers App

This is Fyers’ app-based trading and investing platform. All trading-related functions are integrated between the App and the Web. Users can create watchlists, set price alerts, and other functions as well.

Fyers One

This is Fyers’ desktop application for trading and investing. Users can access information regarding market-wide movements and trends with the help of heat maps, market dynamics, & index meters.

Fyers Direct

Fyers Direct allows users to invest in mutual funds without paying any additional commission. The mutual fund platform has features like one-click investing, portfolio tracker, instant redemption, etc.

Fyers Thematic

Fyers Thematic allows users to invest in ready-made portfolios that either follow a particular investment style. These baskets are created by experts and allow users to easily implement pre-made portfolios.

My Account

“My Account” is Fyers’ user account dashboard. It gives users insights into their portfolio with segment-wise P&L, a summary of their holdings, and more.

School of Stocks (SOS)

“School of Stocks (SOS)” is a learning platform by Fyers. SOS has 11 modules covering topics around trading as well as investing.The modules contain chapters by various industry experts, and the platform does not levy any fees or charges.

Charges Details

For Equity

CHARGES

DELIVERY

INTRADAY

FUTURES

OPTIONS

Transaction Charges

0% 

0% 

 

0% - NSE

0.05 

Demat Transaction Charges 

Sell-side, ₹ 7 & ₹ 5.5 CDSL 

-

-

-

GST

18% on Brokerage + Exchange Turn over Charges

18% on Brokerage + Exchange Turn over Charges

18% on Brokerage + Exchange Turn over Charges

18% on Brokerage + Exchange Turn over Charges

STT

0.1% 

0.025% Sell-side

0.01% Sell-side

0.05% Sell-side

SEBI Charges

 â‚¹ 10/Crore

₹ 10/Crore ₹ 10/Crore ₹ 10/Crore

For Commodity

CHARGES

FUTURES

OPTIONS

Transaction Charges

0%

0.05%

Clearing Charges 0% 0.05%

GST

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

STT

 0.01%, Sell Side

 0.01%, Sell Side

SEBI Charges

₹ 10 per crore

₹ 10 per crore

For Currency

CHARGES

FUTURES

OPTIONS

Transaction Charges

0%
 

0.04% 
 

GST

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

STT

-

-

SEBI Charges

₹ 10 per crore

₹ 10 per crore

 

FYERS Complaints & Stats

Company name:

Fyers Securities Private Limited

Contact:

080-66251111

Email:

support@FYERS.in
FYERS Customer Reviews

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