Last Updated - 2018-12-04
Rated 4/5 based on 17 customer reviews
Fyers Securities 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, advisory and recommendation services for smart investment.
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Fyers Securities with web portal www.fyers.in is a revolutionary name in discount brokerage space founded in 2015 by young entrepreneurs. The broker is based in Bangalore and the member of NSE India and for demat, Fyers has partnership with IL&FS Securities Services Limited. With Fyers you can trade in Equity, F&O and Currency on NSE. The broker falls right in line amongst the low brokerage discount brokers in India as it offers brokerage of flat Rs 20 per executed order for trading in equity delivery, intraday, F&O and currency derivatives.
Fyers has introduce a new way of investing in stocks called "thematic investing" where bunch of stocks are picked based on certain specific ideas called themes. The idea is to focus on investing in group of shares that suits your preference rather than investing in individual stocks. It is similar to mutual fund investment.
As the broker is a new entrant in the market, we can expect nice and satisfactory customer service from them. The broker provides e-mail and phone support which is pretty much a standard with all the discount brokers. Fyers is leading in market by building a strong online knowledge-base, video tutorials & demo. They also have referral program where you can earn 10% of brokerage generated by the clients referred by you.Fyers Securities has most up to date technologies in the market that can give you a cutting edge for crisp and smooth trading. Their most powerful tools are Option Strategies Calculator, Discipline Diary: A probability algorithm which can help in money management planning, Brokerage Comparison Calculator, Brokerage Calculator, Fibonacci Calculator, Pivot Point Calculator and Referral Earning Calculator.
Here we are comparing Fyers with its 5 close competitors, who are currently market leader in brokerage industry.
| Broker | Fyers | Zerodha | ICICIDirect | Sharekhan | ProStocks |
| Service Type | Discount Broker | Discount Broker | Full Service Broker | Full Service Broker | Discount Broker |
| Brokerage | Rs 20 | Rs 20 | 0.05 to .55% | 0.1 to 0.5% | Rs 15 |
| Account Type | 2 in 1 | 2 in 1 | 3 in 1 | 2 in 1 | 2 in 1 |
| Monthly Plans | No | No | No | No | Yes |
| Rating |
The Brokerage rates of Fyers Securities is competitive and simple. They offer Free delivery trades like Zerodha and Upstox and flat brokerage of Rs 20 per executed order across all the segments.
Their brokerage charges for Equity Delivery is Free whichever is inline with Zerodha, Upstox and lower compare from SAMCO (Rs 20),Prostocks (Rs 15), 5paisa(Rs 10) and SAS Online (Rs 9).
The brokerage for equity Intraday and equity future is flat Rs 20 is almost similar to Zerodha, SAMCO and Upstox and higher than Rs 15 of Trade Smart Online, Rs 10 of 5paisa and Rs 15 with Prostocks.
Option trading can be done at brokerage rate of Rs 20 per executed order which is same as nearby brokers like Zerodha (Rs 20), Upstox (Rs 20).
The brokerage for Currency Future is Rs 20.
The brokerage for currency option is Rs 20.
Call and trade - Rs 20 per executed order.
Admin square off fee - Rs 20 per executed order.
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| Brokerage Plan | Max Rs 20 Per Order Plan |
| Flat Fee | NA |
| Equity Delivery | Free |
| Equity Intraday | 0.01% or Rs 20 whichever is lower |
| Equity Futures | 0.01% or Rs 20 whichever is lower |
| Equity Options | Flat Fee Rs 20 |
| Currency Futures | 0.01% or Rs 20 whichever is lower |
| Currency Options | Flat Fee Rs 20 |
| Commodity | NA |
For complete brokerage charges and trading plans detail please visit Fyers Brokerage Charges.
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:
Fyers supports the most advanced trading platforms for technical traders and fundamental investors and the platforms are geared to support algos, signal generation and lots more.
Terminal Based Platform : Fyers One is the power pack downloadable trading software of Fyers Securities. The advance features of this trading terminal are technical indicators, charts for indices, technical screeners, end of the day reports etc.
Web Based Platform: Fyers Web Trader is the robust web portal of Fyers for seamless, smooth and flexible trading from home or work.
Mobile App Based Platform: Fyers Mobile is the smart phone app of Fyers Securities with all the basic features and it even works at very low band width.
For detail review of mobile app and download please visit Fyers Trading Platform Review.
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The broker is new to the Stock Broking 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 suited for people looking for some advice on investment, trading in IPOs and Mutual Funds along with Equity and Derivative Trading.
On and on a better Broker at a decent brokerage and services.
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.
Ratings:
Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent