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Fyers Review 2022

Rated 4 stars Rated 4/5 by Top Share Brokers Team
Last updated on: 22-Sep-2022
Fyers Securities Review
Open Fyers account online and enjoy Free Equity Delivery, Flat ₹20/trade for F&O, and Intra-day. Avail special offer with us and Get Your AMC Waived Off Forever!

Fyers Review 2022 - Quick Summary

Rs. 0 delivery trade, Rs. 20 per order brokerage plan, zero brokerage mutual fund investment, & Fyers One, Fyers App, and Fyers Web-based advanced technology trading platform make Fyers the best broker for traders and investors.


Rated 4 stars

Fyers Top Highlight for 2022

  • Lifetime Zero Demat AMC Account.
  • Zero brokerage delivery trading.
  • 100% online account opening process at zero charges.
  • Max Rs. 20 brokerage charges across segments.
  • Fyers Direct, is a commission-free direct mutual fund investment platform.
  • Excellent online trading platforms; Fyers Web, Fyers App, and Fyers One.
  • Start Algo Trading with Fyers API for free.
  • Fyers Thematic investing, invest in an expert-made basket of stocks for free.
  • Fyers 30-day challenge: Trade profitably for 30 days and get upto Rs. 5,000 brokerage refunds.

About Fyers

Fyers Securities, incorporated in 2015, is a Bangalore-based online discount brokerage firm. It is a member of BSE, NSE, and MCX to facilitate customers to trade online in equity, derivatives, commodities, and currency segment.

Fyers is a competitive brokerage name in the industry with its Rs. 20 flat discount brokerage model offering free delivery trading, and Rs. 20 flat brokerage fee on intraday and F&O trades. Open Free Fyers Demat & Trading Account in just 15 minutes and experience the lowest-brokerage online trading.

It also provides zero brokerage or commission-free investment in direct mutual funds on the Fyers Direct platform. Fyers Thematic Investing is a platform to invest in a theme-based basket of stocks for free. You can invest in a ready-made portfolio based on pre-defined themes or create a customized portfolio.

Despite the low-cost brokerage structure, it also has the best in-house free trading platforms; Fyers Mobile App, Fyers Web, and Fyers desktop trading terminal. Fyers platform has a complete charting package solution for traders with many impressive features.

The discount broker has a dedicated customer service desk to resolve client queries over mail and helpline number. Let’s move through the detailed Fyers Review 2022 including account opening charges, account opening process, brokerage charges, trading platforms, and pros & cons of trading with Fyers.

Fyers Promotion Offer

Current promotion offer from Fyers for TopShareBrokers Visitors:

  • Free Delivery Trading
  • Max Rs 20 per order brokerage on intraday,F&O,Commodities and Currency
  • Free Direct Mutual Funds and IPO Investment
  • Lifetime "ZERO" Fyers Demat AMC Account
  • Open Instant Fyers Account Now!

Request call back from Fyers

Fyers Brokerage Plan, Fees and Charges

Rated 3.5 stars Brokerage and Commission Rated 3.5/5

Fyers has an Rs. 20 flat discount brokerage plan that charges lifetime zero brokerage on investment in stocks (Delivery trading) and Max Rs. 20/order brokerage on equity intraday, futures & options, commodity, and currency trading services.

Fyers Account Opening Charges

Trading Account Opening Charges: Free
Trading Account AMC: Free
Demat Account Opening Charges: Free
Demat Account AMC: Free

Fyers Brokerage Plan with closest competitors

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

Broker Fyers 5paisa Zerodha Upstox Paytm Money
Service Type Discount Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 20 Rs 20 Rs 20 Rs 20 Rs 15
Account Type 2 in 1 2 in 1 3 in 1 3 in 1 2 in 1
Equity Delivery Free Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower 2.5% or Rs 15 whichever is lower
Equity Intraday 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.05% or Rs 15 whichever is lower
Equity Futures 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 15 whichever is lower
Equity Options Flat Rs 20 per order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 15 per order
Commodity 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Currency Futures 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower NA
Currency Options Flat Rs 20 per order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Rating
Rated 4 stars
Rated 4 stars Rated 4.5 stars Rated 4.5 stars Rated 4 stars

Other Charges

  • Call & Trade Charges: Rs 50 Per Order
  • RMS Auto Square Off Charges: Rs 50 Per Order
  • Hidden Charges: No

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

Please refer unique and accurate Fyers Brokerage Calculator


Type of Account offered by Fyers

Fyers offers Trading & Demat Account opening services to Indian resident customers only to enable them to kickstart their online trading & investing journey.

Fyers Trading & Demat Account

    Fyers is a CDSL depository participant to enable customers to open a free Fyers Demat Account online. You can open an integrated 2-in-1, Fyers Demat & Trading account online at zero charges in just a few minutes.

    Fyers 2-in-1 account is a Single Margin Account (Equity Trading A/c + Commodity Trading A/c) to allow customers to trade-in equity intraday (MIS), equity delivery (CNC), equity derivatives, commodity, and currency trading segment at a flat brokerage.

Fyers Mutual Fund Account

    If you are an existing Fyers customer and have a Demat Account, you just need to activate the BSE-MF segment to start investing in mutual funds on the Fyers Direct platform. Fyers offers free access to the mutual fund platform to its customers. Fyers offers 49+ top fund houses direct mutual funds such as HDFC, Axis, ICICI, DSP, Nippon, and Tata mutual funds.


How to open Fyers Account online?

Open a Fyers Demat & Trading Account for free in a 100% digital paperless manner and start trading within 24 hours.

Steps to open Fyers Demat & Trading Account Online;

  1. Go to the official Fyers website.
  2. On the top menu, click on the “Sign Up Now”
  3. Enter your email and mobile number.
  4. Click on the “Send an OTP” option, and verify the details by entering OTP.
  5. Now, enter identity details by uploading your PAN card photo or submit KYC documents from DigiLocker.
  6. Enter your aadhaar card number and OTP to fetch KYC documents from DigiLocker.
  7. Enter basic details like father name, mother name, gender, and marital status.
  8. Provide your address proof.
  9. Now, add bank account details & select your choice of segment/s to activate.
  10. To trade in the derivatives segment, you have to upload a financial income proof.
  11. Provide additional info and add a nominee to your account (optional).
  12. Go through the in-person/live video verification process by recording a video of yourself with a clearly written OTP on plain white paper.
  13. Upload your photograph and signature.
  14. Proceed to the e-sign now option by entering your aadhaar number and then verify it with OTP.

Note: Once all steps are completed, your application will go under review and the Fyers team will notify you through a welcome email containing your Fyers Demat Account ID and login credentials.

Avail special offer with us and Get Your AMC Waived Off Forever + Free Account.

Alternatives to Fyers

 Demat Account
 Demat Account
 Demat Account
 Demat Account

Fyers Mobile App and Trading Platforms

Rated 4 stars Trading Platforms Rated 4/5

Fyers offers in-house built technologically advanced and user-friendly trading platforms across a website, mobile trading app, and desktop trading software. All of the platforms are available for free to use at zero charges for Fyers customers.

Fyers App [Mobile Trading App]

    Fyers has a lightweight, fast, easy to use, and feature-rich trading & investing app on iOS and Android phones. The app offers advanced charting features with a historical EOD of 24+ years, 4+ years of historical intraday charts, over 100+ technical indicators, multiple drawing tools, Trade Directly from charts, TradingView charting library, and view upto 8 charts on a single screen. You can create unlimited watchlists, view real-time option chains, place basket orders, create price alerts, and more.

Fyers Web [Web Trading Platform]

    Fyers Web is a world-class web trading platform built by using the TradingView chart library. Users can access the web platform through any compatible browser on their desktop, laptop, and mobile phone. 25+ pre-defined watchlists, one-tap order placement, real-time option chain, price ladder trading, multiple chart setup, 24+ years of historical EOD, 100+ charting indicators, and multiple drawing tools make Fyers Web one of the top-ranked platforms by traders.

Fyers One [Desktop Trading Software]

    Fyers One is one of the best installable desktop trading terminals that can be downloaded on windows devices. The desktop trading software comes with a lot of unique & advanced analytical tools such as Market Heat Map, Market Dynamics, & Index Meter, Portfolio Simulation, F&O analysis tools, technical screeners, advanced EOD reports, and access to resourceful data; FII & DII Data, bulk & block deals, and more.

Fyers Direct

    Fyers Direct is a free direct mutual fund investment platform at zero brokerage or commission. The web platform offers equity, debt, solution-oriented, and debt category of mutual funds. You can start SIP or invest a lumpsum amount in your choice of direct mutual fund across top mutual fund houses. You can earn a 1-1.5% greater return and create a huge wealth by investing in direct mutual funds online.

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


Fyers Trading Pros

  • Brokerage free delivery trading and investment in mutual funds.
  • Pay Rs. 20 flat brokerage fee on intraday and F&O trades.
  • Zero brokerage direct mutual fund investment.
  • Invest in an idea or theme-based portfolio with Fyers Thematic Investing.
  • Best-class trading platforms across web, app, and desktop software.
  • Advanced orders like bracket order, cover order, after-market order, and basket order.
  • Win upto Rs. 5,000 brokerage refund with Fyers 30-day challenge.
  • Fyers School of Stocks, a free stock market learning platform.
  • Get free access to Fyers API.
  • Zero payment gateway charges.
  • Zero pledge charges.
  • No proprietary trading.
  • No hidden cost.

Fyers Trading Cons

  • Fyers Direct mutual fund platform is not available as a mobile app.
  • Fyers does not provide intraday tips, research, and advisory services.
  • It does not offer a 3-in-1 account opening facility.
  • Currently, it does not offer NRI trading services however, expected to launch soon.

Fyers Customer Care info

Fyers has a dedicated account opening desk, dealing desk, and customer service support desk that offers online customer care via mail and helpline number. All lines close at 5 PM on Saturday thus, 24/7 support is not available. It only offers online customer care and offline or branch-based support is not available.


Final thought about Fyers

Rated 4 stars Rated 4/5 by 20 users

Fyers is a popular name in the discount brokerage space that charges highly competitive brokerage charges of Rs. 20 per order flat brokerage same as top discount brokers like Zerodha, and Upstox.

It is also among one of the few stockbrokers that offer great technology-enabled and fast online trading platforms for free. The platform comes with unique functionality, powerful charting, 24 years+ historical data, and 4+ years of intraday data that are extremely useful for traders for advanced analysis.

Request call back from Fyers

Last updated on: 2022-09-22

Fyers FAQs

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

 

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.

 

Yes, Fyers offers cross currency trading facilities.

 

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.

 

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.

 

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.

 

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.

 

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.

 

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.

 

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.

 

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.

 

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.

 

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.

 

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.

 

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).

 

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.

 

No, Fyers as a discount broker offers only one plan - The flat Rs 20 plan. The company doesn’t offer any other plan like an unlimited trading plan to fix the monthly plan.

For an unlimited trading plan – Please contact Prostocks which offers a Rs 899 trading plan for Equity Segment.

 

For traders and investors Fyers offer all 3 trading platforms – Mobile App, Web and Downloadable EXE. Fyers App, FYERS Web and FYERS One (Fyers Terminal) are the in-house developed trading platform by Fyers.

FYERS Direct is online mutual fund investment platform for direct mutual fund investing.

Fyers still offers a desktop platform where Zerodha and Upstox has phased out the desktop platform. Fyers offers all its platform Free of cost for its clients.

Fyers Instant Account

 

Square off is the end of the day process where RMS team closes all open Intraday positions. Generally this process starts from 3:15 PM (15 minute before market close).

Traders can close their Intraday position before 3:15 pm. After that Fyers RMS team will close the position and charge Rs 50 + GST. To avoid such scenario, one need to close all Intraday positions before 3:15 pm.

Position closed by RMS team is usually considered as Call and Trade. A broker charges same fee, which is Rs 50 + GST per order.

Fyers Instant Account

 

For online brokers, customer support is the most important part. Fyers has kept all its support options open for customer. Clients can reach support team via email, phone or use online support portal for quick query resolution.

Best way to find answers of your queries are Fyers Support Portal. They have classified support under different categories with a detail article on each topic. In case you need second level support then Fyers Support Email is the second best choice. The last option is Fyers Phone support, available on working days between 9 to 11:55 pm and Saturday till 5 pm.

 

Yes, Fyers give you a facility to close your account online. Usually, no broker wants to let go of their customer. But when you made up your mind to exit the broker, Fyers has given you the option to submit an online application to close your account.

    Steps to close your account online with Fyers:
  • Visit My Account Portal
  • Go to the account details section
  • Click on Close Account
  • Upload your signature and validate OTP
  • After your request, Fyers team will take up to 7 days to close your account and confirm with you over email

After Zerodha, Fyers is the second broker who is taking account closure requests online.

Zerodha-New Account

 

For Traders and Investors, Fyers is offering a full range of Order Types. Market, Limit, Stop Loss Market, Stop Loss Limit, After Market Order (AMO), Cover Order, Bracket Orders.

Due to some limitations, CO and BO are not available for all product types.

Missing Order Type: With close competitors Zerodha and Upstox, Fyers is missing GTD or GTC Order type. This is a must requirement for Investors.

One more thing that all discount brokers are missing is Equity SIP. Similar to Mutual Funds SIP, Equity SIP is also a required feature for investors.

Fyers Instant Account

 

Fyers current focus is the domestic market and not opening demat and trading account for NRI/NRO clients. Prostocks, one of the fastest-growing discount broker has a dedicated team to help NRI/NRO demat and trading accounts.

 

Fyers Direct is the same as Zerodha Coin, where Mutual Fund Investors can buy commission-free direct mutual funds online or start SIP with direct mutual funds.

No need to pay any hidden charges or commissions to the broker for your Mutual Funds investment.

Fyers Instant Account

 

Fyers allow user to apply in IPO online with the UPI based transaction. As per current limit of UPI, users can apply up to Rs 2 lacks application with a FYERS IPO Application.

For FYERS user, Appling in IPO is now very simple and hassle free process. You need to select the IPO, number of shares, price on which you wish to apply IPO and UPI ID. After that you need to approve UPI mandate to block your bid amount.

The biggest advantage of FYERS Online IPO Application process is, you can apply in IPO any time of the day. For users process is open 24x7 between IPO open and close window. Fyers internal application will take care the application submission process.

Fyers Instant Account

 


Fyers Securities User Reviews

avatar
23. Jasveer Mar 28 2022 05:16:52 AM Reply
This is Fraud. they sold my share in same days i purchased without my permission and created loss to me. guys please do not use this worse platform

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
avatar
22. a Jun 29 2021 08:17:10 PM Reply
Its better than Zerodha, but certainly lacks many important things in an trading platform similar to Tradestation or MetaTrader4 or MetaTrader5.
Execution speed far less than MT4/MT5.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Above Average
Website Usability - Below Average
Customer Service - Average
Overall Experience - Average
avatar
21. Raj Nov 09 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 Sep 08 2020 02:00:40 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 Jul 03 2020 05:44:44 AM Reply
better desktop platform

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
avatar
18. Ganesh Jun 01 2020 09:12:25 PM Reply
Best Platform for Traders....Pro Platforms..
avatar
17. Trupti Behura Feb 18 2020 04:02:59 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 Dec 03 2019 06:12:53 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 Sep 13 2019 03:09:56 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 Apr 25 2019 09:31:04 AM Reply
Here in available tamil language talk borker