Fyers Review 2020

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

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Incorporated in 2015. Fyers is an acronym of Focus Your Energy & Reform the Self, that is founded by a young entrepreneur, Tejas Khoday. Fyers Securities with web portal www.fyers.in is a revolutionary name in discount brokerage space. The broker is based in Bangalore and a registered member of NSE, BSE, and MCX. The broker is one of the low brokerage discount brokers in India and among the cheapest stock brokers online as it offers brokerage of flat ₹20 per executed order for trading in equity intraday, F&O, currency, and commodity. In 2018, the broker moves to a free investment zone by offering FREE equity delivery trading. Earlier, Fyers has a partnership with IL&FS Services Limited for Demat account opening but in October 2019, Fyers introduced Fyers Demat Account by becoming a Depository Participant with CDSL.

Fyers has introduced a new way of investing in stocks called "Thematic Investing" where a bunch of stocks is picked based on certain specific ideas that are called themes. The idea is to focus on investing in a group of shares that suits your preference rather than investing in individual stocks. Fyers Thematic Investment is also the part of free trading.

Fyers also have a Fyers 30 Day Challenge product, as per which, if a traders stands in profitable position at the end of 30 days period, then the trader will be entitled to get refund of the 100% brokerage paid during that period. Earlier, the challenge was only available on BSE and NSE but recently (in January 2020), Fyers Securities incorporated MCX as well under the Fyers 30 Day Challenge. They also have a referral program where you can earn 20% of the brokerage generated by the clients referred by you.

Review Summary

Fyers (Focus Your Energy & Reform the Self) is the fresh breeze in the online discount brokerage industry that differentiates themselves from others in line by taking one step ahead by introducing thematic investing.


Benefits

  • Free delivery trading and max Rs 20 for all other segments.
  • Zero AMC on Demat and Trading Account
  • 100% brokerage refund under FYERS 30 Day Challenge.
  • Thematic investing at zero brokerage.
  • Innovative and advance in-house trading platforms across web, terminal and mobile.
  • High leverage, in-line with other top discount brokers.
  • No hidden cost and subscription charges.
  • Referral program and up to the mark customer support.
  • Advance order types cover orders and bracket order available.
  • Fyers trading and Demat account opening are free and no minimum balance is required to open the account.
  • Brokerage and Margin Calculator to calculate costs & margin requirements upfront.
  • Earlier, the broker had tie-up with IL&FS for Demat account opening but now, it obtained CDSL License and offers its own DP services

Considerations

  • DP charges on selling are higher compared to other discount brokers.
  • No NRI Trading Facility
  • No Mutual Fund Investment Services

Special Offer

Get FREE Trading for Limited Time + FREE Equity Delivery Trades (No Brokerage) + Rs 20 Max Trade in all other segments.

Simply leave your contact information with us and Fyers representatives will contact you.

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 No Yes Yes Yes No
MF SIP No 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: Free

Fyers Brokerage

Fyers offer only one brokerage plan which is a flat brokerage of ₹20 per executed order across all the segments. Equity delivery trading is free, the same as offered by Upstox (₹20) and Zerodha (₹20). The brokerage for currency future, currency option and commodity is also ₹20.

Although Fyers stopped NRI trading but already existing NRI customers can trade in all segments at ₹100 per executed order.

Benefits

  • Max ₹20 per executed order.
  • No limitation of order size and no hidden charges.

Considerations

  • No margin funding facility.

Fyers Other Charges

  • Call & Trade is ₹20 per executed order.
  • Payment Gateway with 24+ Bank @ ₹10 + GST.
  • DP charges for delivery based equity selling at ₹10+ 5.5 CDSL charges.
  • RMS square off charges of ₹20 per executed order.

Account Type

Fyers mainly offer 2-in-1 account and commodity trading account.

  • Fyers Trading and Demat Account

    Fyers offers trading account to trade in equity cash, intraday, derivatives, and currency trading. Demat account is offered by IF&LS.

  • Fyers Commodity Only Account

    You can open only commodity trading account with Fyers.

  • Mutual Fund Account

    At current, Fyers doesn’t offer Mutual Fund Account.

  • Fyers NRI Trading Account

    Although Fyers stopped NRI trading services, however, already existing NRI customers can still trade at discount brokerage price. A flat fee of ₹100 per executed order for NRI customers in all segment. This is one of the lowest brokerage plans for NRI customers.

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 2 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 0.01% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 0.01% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Futures 0.01% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 0.01% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Options Flat Fee Rs 20 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 NA 0.1% or 10 paisa Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20
Currency Futures 0.01% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 20 0.01% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Currency Options Flat Fee Rs 20 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


Open Trading and Demat Account with Fyers Securities

For online trading with FYERS, investor has to open 2-in-1 account(Trading and Demat). Following are the ways to open an account with FYERS:

Contact Fyers

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Fyers Trading Platform and Tools

Trading Platforms Rated 4/5

    Fyers has the most advanced and in-house built trading platforms across web, mobile, and software-based at no additional fee for technical traders and fundamental investors. The platforms are geared to support algos, signal generation and lots more.

    • Fyers One (trading software)

      Fyers One is the power pack downloadable trading software of Fyers Securities. The advanced features of this trading terminal are heatmaps, stock screeners, intraday scanners, support & resistance filters, real-time market-wide analytics and other key information like FII/DII data, RBI key rates, global markets performance,etc.

    • Fyers Web Trader (web-browser)

      Web Trader (login.fyers.in) is the robust web portal of Fyers for seamless, smooth and flexible trading from home or work. The platform has advanced charts with 70+ indicators, 300+ interactive icons, and historical EOD data of 20+ years. Advance features like price ladder trading where clients can visualize price action before placing an order in intraday. The trading facility from charts, multi-charts setup, intuitive dashboard, and simple user interface.

    • Fyers Markets (mobile-app)

      Fyers Markets is the smartphone app of Fyers Securities with all the advanced features and it even works at very low bandwidth. The features include adding up to 25 scrips in the watchlist and can create up to 5 different watchlists. Screeners like resistance and support, high/low breakers, trending screeners, etc. are available.

    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

The broker is new to the stockbroking industry but entered in the market with all the important tools and ideas to make investing a smooth and easy experience for its clients.

Fyers will mostly suit people looking for some advice on investment, investment in IPOs and Mutual Funds along with Equity and Derivative Trading.

On and on a better broker at a decent brokerage and services and definitely falls under the cheapest online stockbroker.

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 2020-01-24


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

    Discuss this question

  2. 2. What is the Fyers School of Stocks?

    Fyers Schools of Stocks is Fyers free online stock market learning portal that aims to promote financial literacy and educate people about trading & investment.

    Discuss this question

  3. 3. What is Fyers AMC charges?

    Fyers AMC charges is zero for both the demat and trading account means Fyers offer zero AMC demat and trading account.

    Discuss this question

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

    Login to your Fyers Account, go on the top menu of Fyers Web and click on “Accounts” to directly access Back office.

    Discuss this question

  5. 5. Does Fyers offer cross currency trading?

    Yes, Fyers offers cross currency trading facilities.

    Discuss this question

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

    Yes, you can easily check the order placed on Fyers mobile app on Fyers Web because all the trading platforms are synchronized.

    Discuss this question

Compare 3 Brokers

Compare Fyers

Find out how Fyers stacks up against other brokers

Fyers Securities User Reviews

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
avatar
11. sambhaji 9/30/2018 11:28:05 PM Reply
sir i need information about mcx crudoil margin normal and mis order in 1 mega and 1 mini lot. Thanks
avatar
11.1. CA Sachin jain 10/2/2018 9:54:51 AM
As of now, fyers is not in commodity trading. So for commodity account, you need to open an account with Zerodha or Upstox.
avatar
10. Rameshwar A. Shelke 5/15/2018 12:17:15 AM Reply
Now free brokerage For Equity Delivery & Thematic Investments.
avatar
9. Sanjay Nakrani 8/24/2017 12:07:52 AM Reply
very good app for mobile and also web trading platform is very good ...

Ratings:

Brokerage - Above Average
Account Maintenance Fees - Excellent
Website Usability - Above Average
Customer Service - Above Average
Overall Experience - Above Average
avatar
8. Ayush 8/12/2017 9:25:42 AM Reply
Fyers Tading account was superb with much comprehensive tools but they are not updating there app and also charge excess in name DP charge and hidden cost charge over ₹980 for nothing fyers is trustworthy but there demat is not they deducted a hell lot of amount directly from my bank account on call they do not provide sufficient reply and did not understand the concern seriously

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Very Poor
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor
avatar
7. jawed 4/9/2017 1:55:09 AM Reply
its wonderful experience

Ratings:

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

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