Fyers is a Bangalore-based discount brokerage firm providing users with online trading and investing services. It was established in 2015 to offer brokerage services in various segments, including equity cash, F&O, derivatives, and currency. This online discount brokerage firm was founded by young founders to introduce the best stock trading platform in India, transparent about brokerage and other services it provides.
Fyers is also known for its low-cost brokerage and seamless trading facilities. You can say it’s one of the cheapest stock brokers in India and has a very simple brokerage model. It has various trading platforms, including a mobile app, trading terminal, and official website.
Fyers Brokerage Fees
Fyers charges very low brokerage charges compared to other discount brokerage firms in India. Below we have shared a detailed overview of the brokerage charges and other fees you might have to pay while using its trading and investing services.
Fyers Account Opening Charges
- It charges Rs 0 for trading and Demat account opening.
- There is no trading account opening fee on Fyers.
- Fyers charges Rs 300 per annum for Demat account maintenance.
Fyers Brokerage Charges
- The platform does not charge any brokerage on equity delivery.
- It charges Rs 20 per trade or 0.03% on equity intraday trades.
- Fyers levy Rs 20 per trade or 0.03% on equity, currency, and commodity futures.
- It has Rs 20 per order brokerage on equity, currency, and commodity options.
- The platform charges Rs 20 per order additional for the call and trade option.
- There is Rs 20 per order for square-off trades.
Fyers Stock Trading Platforms
There are many tech-driven trading platforms and mobile apps from Fyers, so its traders and investors can efficiently perform the trades. Below are some major stock trading platforms of Fyers.
1. Fyers One
This trading terminal is designed for professional traders who perform large-scale trades in the Indian stock market. Fyers’ trading terminal is easily installable on desktop computers and laptops. It packs several features, including advanced charting, analysis tools, and reporting. It also has a portfolio tracker to help traders manage their portfolios efficiently.
2. Fyers Market
Fyers Market is a mobile app for Android and iOS users. This feature-rich mobile app allows users to access multiple watchlists, use stock screeners, and utilize technical indicators to make relevant trading decisions.
3. Fyers Web Trader
Fyers Web Trader would be an ideal trading platform for traders or investors who prefer web-based stock trading. It’s a fully functional platform with all the features and options you need to participate in the stock market. You can access auto-screened option strategies and live data feed to decide your further trades.
4. Fyers Direct
It’s a mutual fund investment platform that you can use for free. Through this app, you can invest in various mutual fund schemes and get opportunities to invest in international stocks. Moreover, you get all details about your portfolio within this platform.
5. Fyers Thematic
If you are a beginner investor or willing to invest in expert-suggested stocks, you must use Fyers Thematic. This trading platform allows you to invest in pre-made portfolios. The great thing about these stock baskets are they are created by experts to help investors get a higher return on their investment. You don’t need to pay for this platform, as it’s free for Fyers users. Moreover, you can create and track your investment portfolio easily. There are also category-wise stock baskets that you can select and start investing your money.
How to Open Demat Account on Fyers?
Fyers, one of the fastest growing online discount brokers in India, offers a quick and instant Demat account opening facility to traders. The Demat account opening process is 100% paperless and easy. Look at below mentioned steps to understand how you can open your Demat account with this tech-driven discount broker.
- First of all, you need to visit the official website of Fyers.
- Click on the “Open Account” option and proceed with account registration.
- Complete account registration by verifying details by OTP.
- After verifying details during account registration, Fyers will send login credentials to your Email ID.
- When you receive login credentials, log in to your account and proceed with further steps.
- Upload PAN, Aadhaar, and other documents to complete KYC.
- Once you complete the KYC process, you can start trading and investing in various financial instruments.
Advantages of Fyers
Fyers offers several benefits to its users and provides the best trading platforms to make their trades easier. Below are some major benefits of Fyers, an online discount broker, to help you understand if it fits well according to your trading needs.
- The account opening with Fyers is free and totally online.
- It does not charge any brokerage fee on delivery trades.
- It has ultra-low brokerage charges compared to competitors.
- There are no hidden charges, as the company claims to be very transparent.
- It has a dedicated team to introduce and launch new trading features to help investors.
- Fyers’ trading platforms and mobile apps are freely available for registered users.
- Fyers’ Thematic platform helps investors to invest in a group of stocks.
- It provides a single margin account to use the fund for various asset classes.
- The discount broker has a large set of historical data on listed stocks.
Disadvantages of Fyers
Fyers also have some limitations that may affect investors’ trading decisions. Below are some major disadvantages of using Fyers for stock trading and investing.
- Its tools do not offer candlestick indicators to help traders make trading decisions.
- Fyers does not have a separate mobile app for mutual fund investors.
- You don’t get a 3-in-1 account if you open your Demat account with Fyers.
- Fyers also does not provide NRI trading and a Demat account.
- This online discount broker does provide trading tips, research reports, or advisory services to its users.
Conclusion
Fyers is one of the popular online discount brokers in India with highly competitive brokerage charges. This discount broker also has technology-enabled stock trading platforms and mobile apps to ensure a safe and secure trading experience. It provides users with a large set of historical data on selected stocks and advanced tools. Moreover, it also allows registered users to quickly trade in multiple financial instruments.