Discount Broker Depository: CDSL
31

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 1,69,386 till February 2023.

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
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 infuses a highly tech-driven approach to advanced trading by providing an array of tools and trading platforms for desktop and mobile devices. It also offers online brokerage service under multiple financial instruments such as equities, mutual funds, and derivatives. 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

  • Zero charges for account maintenance.
  • FYERS Thematic Investing platform to prompt theme-based investment.
  • Easy analysis and management of holdings through portfolio analyzer.
  • Courses and webinars for conceptual improvement.
  • FYERS Direct platform for mutual fund schemes.

If you are a trader, the broker provides you with

  • Well-researched reports for better buy/sell decisions.
  • Convenient trading with charting tools, real-time market data, etc.
  • Webinars and blog articles for market insights.
  • Price alert tool for opportunity and risk analysis.
  • Drawing tools and over 100 technical indicators.

Trading Tools

Fyers offers an array of trading tools and features to ease the trading experience. Some of them are:

Fyers Web

With a Tradingview Library, Fyers Web is known for its unique features and uptime rate. It makes trading convenient with it advanced tools and features such as:

  • Direct trade, trade modification, and cancellation via charts,
  • Real-time ticker for bids/offers through Price Ladder,
  • 24+ years of EOD data for advanced charting,
  • Readymade watchlist for quick trade decisions,
  • Ease of viewing up to 8 charts on one screen,
  • Real-time configurable option chain.

Fyers App

Fyers App eases direct trade and investing with multiple unique facets and convenient syncing of data with Fyers Web. The light app quickens the trading and investing process with the following features: 

  • Direct placing, modification, and cancellation of orders from the charts,
  • Two-factor authentication for secure transactions,
  • Customizable watchlists to track favorite stocks,
  • Customizable dashboard for a user-friendly interface,
  • Advanced charts, technical indicators, and multiple drawing tools for efficient trade.

Fyers One

Fyers One is a desktop trading platform equipped with trading features like:

  • Heat Map, Market Dynamics, & Index Meter to get clarity on the market-wide movements and trends,
  • Stock screeners to gauge the trend, intraday movements, support and resistance levels, circuit breakers, etc.,
  • Market data on equity, commodities, currencies, & ADRs,
  • FII & DII data, newest bulk deals, block deals, and delivery data.

Fyers Direct

Fyers Direct allows users to invest in mutual funds without paying any additional commission. The mutual fund platform has features like:

  • You can invest in mutual funds directly from your Demat Account,
  • Traders have the opportunity to invest in top companies and international stocks,
  • All details of your mutual fund's holdings are visible in one place,
  • With a single click, traders can redeem their mutual fund corpus. 

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. Some of its features are:

  • Zero Joining or Signup Fees,
  • Create and track portfolios based on specific themes or sectors, such as technology, healthcare, or renewable energy,
  • Set customized alerts for specific themes or sectors, so they can be notified when there are changes or developments in these areas.

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

Overall Rating

5

Based on 2 reviews

Rating Summary

5
100%
4
0%
3
0%
2
0%
1
0%

Review Analytics

Platform 0 votes

Charges 0 votes

Transparency 0 votes

Features 0 votes

Customer Support 0 votes

anjuma begum

(5)

Posted on 04 Sep 2022

Nice

gourab paul

(5)

Posted on 22 Aug 2022

Everything Free , Heaven for investors .