Fyers Securities Review 2021

Rated 4/5 by Top Share Brokers Team
Fyers Securities Review

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Incorporated in 2015, Fyers Securities acronym for Focus Your Energy & Reform the Self is one of the cheapest discount brokers in India. The Bangalore-based online discount broker is a member of BSE, NSE, and MCX offers online trading & investment in equity, futures & options, commodity, and currency segments. Fyers is a Depository participant with CDSL and facilitates a Free demat and trading account opening facility.

In terms of brokerage, Fyers offers free equity delivery trading and charges flat Rs. 20 per order across all segments. It further allows Free direct mutual funds investment at zero brokerage through Fyers Direct Platform. It also has an innovative product called “Fyers Thematic Investing” which is a bunch of several stocks of a particular theme or investing idea. Thematic investing with Fyers is completely free. The technology-focused discount brokerage firm offers all kinds of possible trading platforms such as Fyers mobile app, Fyers One trading software, and Fyers Web trading platform.

It also has a Fyers 30 Day Challenge reward program, wherein if you are in a profitable position at the end of 30 days period, then you will get a 100% brokerage refund during the particular period. The reward program is active for trading in stocks as well as commodity trading. Furthermore, refer & earn, call and trade, online customer support access across its trading platforms are the value-added services available with Fyers.

Fyers Review 2021 - Quick Summary

One of the lowest discount brokerages offering free delivery trading, zero brokerage direct mutual fund investment, and trade at flat Rs. 20/order in other segments.


Benefits

  • Trade-in equity, futures & options, commodity, and currency.
  • Free equity delivery trading and a maximum of Rs. 20 per order in other segments.
  • Open free Fyers demat and trading account and 1st quarter Demat AMC is zero.
  • 100% online account opening process without a POA.
  • Free direct mutual fund investment at zero brokerage.
  • Open Fyers single margin account to trade across segments.
  • Best trading platforms; Fyers Mobile App, Fyers One, and Fyers web.
  • Free Fyers Thematic investing (Investing in ideas).
  • Get 100% brokerage refund under Fyers 30 Day challenge.
  • Advanced orders like bracket order and cover order.
  • Free Fyers API to create your trading platform.
  • Online Fyers brokerage and Fyers margin calculator.

Considerations

  • You can’t open a 3-in-1 account (Demat + trading + bank account) with Fyers.
  • NRI trading is unavailable.
  • It doesn’t offer an online IPO investment facility through UPI.

Special Offer

Get FREE Equity Delivery Trading and trade at Flat Rs 20 per order in other segments.

Simply leave your contact information here and get a callback from Fyers Representative.

Request call back from Fyers

Fyers Investment Options Compare

Here we are comparing Fyers with its 5 close competitors on investment options.

Broker Fyers Sharekhan 5paisa Zerodha SAMCO
Equity Trading Type Yes Yes Yes Yes Yes
Currency Trading Yes Yes Yes Yes Yes
Commodity Trading Yes Yes Yes Yes Yes
Mutual Funds Yes Yes Yes Yes Yes
MF SIP Yes Yes Yes Yes No
ETF Investment Yes Yes Yes Yes Yes
Banking No No No No No
Insurance No Yes Yes No No

Fyers Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 3.5/5

Fyers Account Opening Charges

      »»  Trading Account Opening Charges: Free
      »»  Trading Account AMC: Free
      »»  Demat Account Opening Charges: Free
      »»  Demat Account AMC: 1st year: Rs. 225, 2nd year onwards: Rs 300 PA

Fyers Brokerage

Fyers has a clear, simplified, and competitive brokerage model to trade at a flat brokerage of just Rs. 20 per order across all the segments. Its brokerage charges are in line with the other discount brokerage firms like Zerodha, Upstox, and 5paisa.

Segment Fyers Brokerage
Equity intraday Rs. 20 per order or 0.03%, whichever is lower
Equity Delivery Free
Equity futures Rs. 20 per order or 0.03%, whichever is lower
Equity Options Rs. 20 per order or 0.03%, whichever is lower
Currency futures Rs. 20 per order or 0.03%, whichever is lower
Currency options Rs. 20 per order
Commodity futures Rs. 20 per order or 0.03%, whichever is lower
Commodity options Rs. 20 per order
Direct Mutual Fund Investment Free
Fyers Thematic Investment Free

Fyers Other charges

  • Call & trade: Rs. 20 per order.
  • Auto Square off charges: Rs. 20 per order.
  • Net-banking fund transfer with 24+ banks: Rs. 10 payment gateway charges.

Fyers Trading Pros and Cons

Pros [Benefits] Cons [Disadvantages]
  • Zero brokerage delivery trading.
  • Trade at a flat brokerage of Rs. 20 per order in other segments.
  • Zero demat AMC charge for 1st quarter.
  • No monthly trading plans.
  • Unavailability of traditional percentage-based brokerage plan.

For complete brokerage charges and trading plans detail please visit Fyers Brokerage Charges.

Fyers with closest competitors

Here we are comparing Fyers with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Fyers Sharekhan 5paisa Zerodha SAMCO
Service Type Discount Broker Full Service Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 20 0.1 to 0.5% Rs 20 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 2 in 1 3 in 1 2 in 1
Equity Delivery Free 0.5% or 50 paisa Flat Fee Rs 20 Free 0.2% or Rs 20 whichever is lower
Equity Intraday 0.03% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Futures 0.03% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Options Flat Rs 20 per order 2.5% of Premium or Rs 250 per lot whichever is high Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Commodity 0.03% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Currency Futures 0.03% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Currency Options Flat Rs 20 per order 2.5% of Premium or Rs 30 per lot whichever is high Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Rating

Please refer unique and accurate Fyers Brokerage Calculator


Fyers Securities Margin Details

Segment Fyers Margin
Equity intraday Upto 16x margin (varies upon stocks)
Equity Delivery Up to 1x means no margin
Equity futures Upto 4x leverage
Equity Options Sell 4x, Buy 1X (without CO), Buy 1.3x (with CO)
Currency futures Upto 2.5x margin
Currency options Upto 2.5x margin

Note: Margin exposure is not available on delivery trading and only available for intraday trading.


Open Trading and Demat Account with Fyers Securities

Residents can open a 2-in-1 account (Demat and trading account) with Fyers to trade across all segments; however, the discount brokerage firm doesn’t facilitate NRI trading services.

    Fyers Trading Account

      Opening a trading account with Fyers enables customers to trade or invest in multiple segments like equity, ETF, derivatives, commodity, and currency segment. The broker offers Free Fyers Trading Account at zero fees and its trading AMC charge is zero. Earlier, it was offering separate equity and commodity margin trading accounts, but now, you can open a Fyers Single Margin account to trade in equity and commodity as well.

    Fyers Demat Account

      In Oct 2019, Fyers got a CDSL DP license and started offering Fyers Demat Account opening services. Anyone who wants to trade with Fyers must open a trading cum demat account to secure all the securities purchased through a trading account in the demat account. People can open a free demat account with Fyers at zero account opening charges. Further, from 1st Dec 2020, its 1st year demat AMC charges will be nil, thus the chargeable fee for 1st year would be Rs. 225+ GST whereas from 2nd year onwards, Fyers demat AMC charge will be Rs. 300 + GST.

      Note: Any client who has IL&FS demat account with Fyers, the services will be stopped with effect from 16th January 2021.

    Fyers Mutual Fund Account

      One can open a Free Fyers mutual fund account and start investing in direct mutual funds from 49+ AMCs. Fyers Direct is a platform for online mutual fund investment at zero brokerage charges or subscription fees.

Contact Fyers

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Alternatives to Fyers

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Fyers Trading Platform and Tools

Trading Platforms Rated 4/5

    The technology-focused discount broker offers an in-house built trading platform including a web trading platform, Fyers mobile app, and Fyers one desktop trading software. Its trading platforms Fyers App and Fyers web are synced with each other and you can access both the platform at a single time.

    Fyers Mobile App [Android and iOS App]

      Fyers has come with an all-in-one new, fast, and seamless mobile trading app in its brand name “Fyers App”. The mobile app comes with a host of innovative features like paperless account opening, awesome charting feature, long-term historical data, 65+ technical indicators, intuitive user interface, multiple customizable watchlists, and many more. Fyers mobile app can be downloaded on Android and iOS devices.

    Fyers Markets [Old Mobile App]

      Fyers Markets is an ultra low bandwidth mobile app that comes with multiple features such as stock screeners, Heat Maps, real-time market feed, multiple watchlists, advanced technical indicators, 20+ years of EOD charts, 9+ months of intraday data, instant fund transfer, and others. Fyers Markets is an installable mobile app on the Google Play Store and the App Store.

    Fyers One [Desktop trading software]

      Fyers One is one of the best trading platforms in India and offers cutting-edge technology benefits to frequent traders. Powerful charting with 10+ years of historical data, 60+ technical indicators, inbuilt technical screener, FnO analysis, world market data, and access to real-time exchange announcement are the key characteristics or benefits of Fyers One installable trading terminal.

    Fyers Web [Web-Trading Platform]

      Fyers web is a NextGen web trading platform that is accessible across many platforms such as desktop, laptop, mobile, and tablets. Advanced charting with 70+ indicators, various technical drawing tools, 20+ years of historical data, price ladder trading, Trade from the chart, and multiple chart settings are the key features of Fyers Web platform.

    For detail review of mobile app and download please visit Fyers Trading Platform Review.

Fyers Trading Platform Compare

Here we are comparing Fyers with its 5 close competitors on Trading Platform.

Broker Fyers Sharekhan 5paisa Zerodha SAMCO
Desktop Windows Yes Yes Yes Yes Yes
Desktop Mac No No No No No
Web Trading Yes Yes Yes Yes Yes
Android Tablet App Yes Yes Yes Yes Yes
Android Mobile App Yes Yes Yes Yes Yes
iPhone App (iOS Mobile App) Yes Yes Yes Yes No
iPad App Yes Yes Yes Yes No
Mobile Site No Yes Yes Yes Yes

Final thought about Fyers

Rated 4/5 by 20 users

Fyers is one of the cheapest discount brokers offering free delivery trading and low brokerage of Rs. 20 per order across all segments. Thus, people who are looking for the lowest brokerage charges must open Fyers account.  The brokerage house is providing the best in-house trading platforms like Fyers One, Fyers Web, and Fyers App are the key advantages of online trading with Fyers. Further, mutual fund investors can undertake free direct mutual fund investment through Fyers Direct Platform.

If you like what you have read and want to open an trading and demat account with Fyers, leave your contact information with us and we will guide you.

Last updated on 2021-01-12



Fyers FAQs

  1. 1. How to add or change Bank Details Online with Fyers?

    You can add a secondary bank account at Fyers by filling out a secondary Bank Account Addition Form. After signing it, scanned copy of the form along with any bank proof among scanned copy of the cancelled cheque, self-attested latest 1-month bank statement or latest passbook statement need to be mailed to [email protected] Then, you will receive a unique ticket number on your respective mail through which you can track the progress online.

    Download Change Bank Detail Form

     

     

  2. 2. How to access Fyers Back Office on Fyers Web?

    Fyers Back Office provides users access to the contract notes, trade details, contract notes, and other information. If you have opened an account with Fyers then you can login to the back office through Fyers Web.

    Steps to Login Fyers Back Office

    • Go to Fyers website
    • Tap on the "Sign In" option and click on the 'Account' tab.
    • Enter client ID, password, and PAN number and press "Submit" option.
    • Now, you have successfully logged into your Fyers account, on the top, Click on the "Accounts" to access Fyers back office.

     

     

  3. 3. Does Fyers offer cross currency trading?

    Yes, Fyers offers cross currency trading facilities.

     

     

  4. 4. Can one check details of order placed on Fyers app on Fyers Web?

    Yes, both the trading platforms Fyers App and Fyers Web are synchronized to each other henceforth, any order placed through Fyers mobile app will be shown on the Fyers Web platform or vice-versa.

     

     

  5. 5. What is Fyers Single Margin Account?

    In Nov 2020, Fyers Securities has introduced Fyers Single Margin Account, as the name itself, it is a one single account to trade across segments including equity, futures & options, and commodity segments with a single limit. Earlier, margins for the equity and commodity account were separate but now, single margin account allows single limit for trading in all segments.

     

     

  6. 6. What are the fund transfer options available with Fyers?

    Clients can add or transfer money to his Fyers Trading Account using following ways:

    1. Zero cost UPI-based fund transfer process.
    2. Add funds to your trading account through net-banking.
    3. NEFT/RTGS based fund transfer process.

     

     

  7. 7. How to add funds to Fyers Trading Account through UPI?

    Likewise many brokers such as Zerodha, Paytm Money, etc. Fyers Securities facilitates UPI-based fund transfer process at zero charges through Fyers mobile app and Fyers web platform. To transfer funds through UPI, make sure your UPI ID is mapped with the linked bank account.

    Steps to add funds to Fyers Trading Account through UPI:

    • Log in to your account on Fyers Market app and Fyers web.
    • Tap on the “Fund Transfer” option.
    • Click on the “Add Funds” option and select “UPI” payment mode.
    • Now, enter the amount, UPI ID and click on the “Continue” option.
    • Accept the fund collection or fund transfer request sent to the UPI App.
    • Once accepted, a confirmation message of “Fund Transfer Payment done successfully” will be shown to you.

     

     

  8. 8. How to withdraw funds from Fyers account?

    Customers can withdraw funds from their Fyers Trading account across all the trading platforms like Fyers Web, Fyers Markets, and Fyers One platform.

    Steps to withdraw funds from Fyers Trading Account

    • Login to your Fyers Trading Account.
    • Click on the “Fund Transfer” Menu and press on “Pay-out” option.
    • Enter the amount, you want to withdraw.
    • Finally, press the “submit” button to place the fund withdrawal request.

     

     

  9. 9. How to start online trading with Fyers?

    Fyers Securities Ltd offers online trading and investment in equity, futures & options, commodity, currency, and direct mutual funds. Here are the steps to start online trading with Fyers:

    • Open Fyers demat and trading account through Fyers app or Fyers Web.
    • Login to your trading account on any of the Fyers trading platform.
    • Add your favorite stocks to the watchlist and start placing online orders as per your wish.

     

     

  10. 10. What is Margin order in Fyers?

    Fyers Margin orders, as the name itself, are the orders placed through using margin facility offered by the broker. The discount brokerage firm offers margin facility on equity intraday and futures & options (F&O) trading. The margin order provides the freedom to customers to get rid-off the requirement of paying full amount as they can pay a small percentage and rest amount will be paid by the broker, that customers have to repay later.

     

     

  11. 11. Is Fyers good for beginners?

    Beginner-level traders look for the lowest trading charges therefore, Fyers is the best broker for beginners who provides cheapest brokerage model. The discount offers free delivery trading and trading at flat Rs. 20 per order brokerage across segments. Further, it offers fast, seamless, and easy to use online trading platforms like Fyers Markets, Fyers App, Fyers One, and Fyers Web. Apart from this, mutual fund investors can undertake free direct mutual fund investment on the Fyers Direct platform.

     

     

  12. 12. How to convert MIS intraday positions to CNC in Fyers?

    You can convert intraday open positions to CNC means delivery trading in Fyers. Here is the process to convert intraday to CNC through Fyers:

    1. Login to your Fyers account.
    2. Click on the "Positions" tab.
    3. Now, click on the "convert" option respective to the trade that you want to convert to delivery.
    4. A pop-up will appear to convert your positions, submit the order.
    5. Now, you have successfully converted your positions to delivery.

     

     

  13. 13. How to place Bracket order on Fyers?

    Fyers facilitates bracket order placement on all of its trading platforms like Fyers Web, Fyers One, and Fyers Markets. Here are the steps to place bracket order on Fyers:

    1. Login to the Fyers App.
    2. Add the scrip to the Fyers watchlist.
    3. Go to the order entry window.
    4. Select the “BO” (Bracket Order) option under the product type and mention stop Loss and target price.
    5. Now, press the “Submit” option to successfully place the bracket order on Fyers.

     

     

  14. 14. Does Fyers offer research reports?

    Fyers being a discount broker does not offer its own research services, but in July 2020, the broker made a tie-up with MarketSmith India - globally recognized research company to provide high quality research reports to investors. MarketSmith India is a one-stop-shop to get stock recommendations, stock fundamental and technical research reports, proprietary ratings and rankings, and others.

     

     

  15. 15. What is Fyers MarketSmith?

    Fyers through collaboration with MarketSmith India, a research company offers research report to customers. The organization, MraketSmith India with 60+ years of existence in the market offers various types of research reports such as Special reports, Pre-Market Commentaries, Daily and Weekly Big Picture, learning articles, and Model Book (Top Stocks Book).

     

     

  16. 16. Is Fyers MarketSmith India research reports free?

    No, Fyers doesn’t offer free MarketSmith India research reports. Fyers customers can subscribe to the research reports by paying a chargeable subscription fee of Rs. 5000 + GST for year or Rs. 2,000 + GST for quarterly plan.

     

     

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Fyers Securities User Reviews

avatar
21. Raj 11/9/2020 11:04:22 PM Reply
I have opened account with fyers in Oct 2020 and within 1 month i had to close my account with bad experience i got. When u call customer service, some times it's never connect even it's connect it disconnects intermediately. Margins also very low compare to any other brokerages and they will not give CO/BO on options where all brokers provide same.
They boast trading view charts can be accessed with fyers, But i don't see significance as now a days most of brokers provide trading view charts.

Ratings:

Brokerage - Average
Account Maintenance Fees - Average
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor
avatar
20. Subrahmanyam Yenamandra 9/8/2020 2:00:40 AM Reply
Fyers levy hidden charges when they trade with them. They loot at least 20 to 30 rupees for a Cash trade of about 1.5 Lakhs using Bracket Order. Their brokerage calculator shows the taxes and brokerage values very similar to Zerodha''s calculator. But, they say that when bracket orders get executed in multiple trenches they charge extra. It is simply cheating, because Zerodha doesn''t do that. They will charge anything extra than what they show in their Brokerage calculator.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Above Average
Customer Service - Below Average
Overall Experience - Below Average
avatar
19. VINEETH VIJAYAN 7/3/2020 5:44:44 AM Reply
better desktop platform

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
avatar
18. Ganesh 6/1/2020 9:12:25 PM Reply
Best Platform for Traders....Pro Platforms..
avatar
17. Trupti Behura 2/18/2020 4:02:59 AM Reply
Overall experience with fyers is excellent. User-friendly software.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
avatar
16. Pradip 12/3/2019 6:12:53 AM Reply
Mast app

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Above Average
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
avatar
15. manish kadam 9/13/2019 3:09:56 PM Reply
Best broker with 99% uptime. Not like zerodha, down all the time.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
avatar
14. Sathishkumar 4/25/2019 9:31:04 AM Reply
Here in available tamil language talk borker
avatar
13. kumar 1/24/2019 8:17:58 PM Reply
wonderful

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
avatar
12. ghghgh 10/20/2018 3:22:14 PM Reply
Best Broker

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent

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