FYERS

4 Overall

Fyers is the recent addition to the list of stockbrokers. Though it is a newbie, it has evolved with a big number of clients they have revolutionary trading platforms, cutting-edge tools, and competitive brokerage structure. They have introduced a new concept called the thematic investing, which is a huge feature of attraction.

Brokerage Charges3.5
Platforms & Tools 4.5
Customer Service 3.0
Cons
  • Don't provide commodity trading
  • No own DP service
  • Initial deposit of Rs 10,000 is required while account opening

FYERS Overview

FYERS is an acronym for Focus Your Energy & Reform the Self (FYERS) is a revolutionary name in Discount Brokers fraternity. It was founded in the year 2015 by Tejas Khoday and other crew having a primary focus of providing retail traders with top class trading platforms for less brokerage.

Fyers is headquartered at Bangalore and is a member of NSE India. Fyers has partnered with IL&FS Securities Services Limited. Fyers allows you to trade in Equity, F&O, and Currency on NSE.


FYERS Brokerage Charges

The Brokerage rates of Fyers Securities are simple and low but not as cheap as other discount brokers. They will charge a maximum of Rs.20 per executed trade.

Equity Delivery

0.1% or Rs 20 Whichever is lower per Executed Order

 Equity Intraday

0.01% or Rs 20 Whichever is lower per Executed Order

 Equity Futures

0.01% or Rs 20 Whichever is lower per Executed Order

 Equity Options

Rs 20 Per Executed Order

 Currency Futures

0.01% or Rs 20 Whichever is lower per Executed Order

 Currency Options

Rs 20 Per Executed Order 

 

Fyers Securities charges a maximum of Rs 20/ executed order for all segments, which is equal to Zerodha (Rs 20), RKSV (Rs 20), Tradejini (Rs 20) but slightly expensive than SASOnline(Rs 9) RK Global (Rs 9), Prostocks(Rs 9), and Trade Smart Online(Rs 15)


FYERS Other Charges

  • DP charges for delivery-based equity will be charged only on the sell side, which is flat Rs.20 along with Depository Charges
    Digital Contract notes will be sent by Email. Physical copies of contract notes can be received at Rs 20/- per contract and courier charges extra
    Instant payment gateway charges will be Rs 10/ fund transfer

     

  • Account Opening Charges

  • Trading Account Opening Charges (One Time) will be Zero?Demat Account

  • Opening Charges (One Time) will be Zero? Trading Annual Maintenance Charges (AMC) will be Zero? Demat Account Annual Maintenance Charges (AMC) will be Rs 400 Per Year


FYERS Platforms & Tools

FYERS has all three types of trading platforms, Web-based trading platform, Desktop-based trading platform, and Mobile-based applications, for executing trades hassle-free and on the go.

  • Desktop Terminal: Fyers One
  • Web-based: Fyers Web Trader
  • Mobile App: Fyers Market

Fyers One: Fyers One is an installable desktop trading terminal with advanced charting and next-generation trading options which will have constant updates for client comforts, like Amibroker, MT4, Spider, Falcon, which will cost the client money to use, FYERS ONE is free of cost and is available for FYERS clients exclusively.

Characteristic features of Fyers One

  • Stock screeners, heat maps, advanced charts are available 
  • Buy and sell signals, FII/DII data, RBI interest rates on the trading screen for better understanding
  • World market data, Macro-Economic data, quarterly results, and company announcements, etc., are all provided in real-time
  • You can get historical charts of five years of any company. It is the only trading platform in India that shows spot charts for both historical and intraday trading

Fyers Web Trader: Fyers Web Trader is a web-based lightweight trading platform that allows the client to carry out trading practices without any prior installation. If you are not allowed to install any software for trading in your office computer or you might be using an old personal computer, then Fyers Web Trader is your best bet to consider.
It is intentionally designed with minimal features to keep things easy and smooth for traders. Some of the basic features of this application include:

  • Options Strategies Calculator
  • Margin Calculators
  • SIP Calculators
  • Brokerage Calculators
  • Buy or sell signals 
  • Advanced Charting 
  • Tips and value suggestion
  • World market data, Macro-Economic data, quarterly results, and company announcements, etc., are all provided in real-time
  • You can get the historical charts of five years of any company. It is the only trading platform in India that shows spot charts for both historical and intraday trading.

Fyers Market: Fyers market is the mobile trading app of FYERS is sculpted to the core perfection with a lot of features. The highly responsive charts can be used just by rolling your fingertips on the screen. The application uses lesser bandwidth so there are no connection and execution delays. Fyers market application is no less of a fully loaded desktop trading terminal with different indices, heat maps, and charts, which helps you to follow the market action.

The corporate action of companies listed on the exchange can be observed for better decision making. Overall, it is heavyweight when it comes to features but functions better than a lightweight.


FYERS Education & Research

Fyers don't provide any free tips service. They also don't provide any educational initiation about the stock market for new customers. But you can read a lot about their Thematic Investment Initiation.

Thematic investment is a great visionary where you can find a bunch of thoroughly researched company stocks that fit the criteria. So the client will not have any hassle as the research team has already concluded the best picks.

Apart from Thematic investment, Fyers doesn't provide any other recommendation service.


FYERS Customer Service

There is no toll-free number for Fyers; however, they do have a helpline number where the customers can ask their queries. They are also very responsive to emails. You can also walk in to their registered office located in Bangalore. 
Contact Phone Number/helpline: 080–4625-1111/9591-82-1111
Contact email: sales@fyers.in
Registered Office: No. 19 & 20, 3rd Main, Gandhinagar, Bangalore - 560009


FYERS Closing Thoughts

Fyers achievement till date is the only Thematic Investment model. It has outperformed all the mutual fund investments by 50%. However, we have seen so many mutual funds who give 50% growth in a year but will show only 9- 15% in the long run. 
The Thematic investment is only 1 year old so we need to look at the future. 
No doubt that Fyers is evolving day by day but is an infant for now. 
Trading terminal and mobile application bugs are a common scenario and need improvement. 
Even Zerodha, the online discount broker giant in the Indian market is also a newbie in 2010. But now it is one of the top 5 brokers. Time will see if Fyers might be next Big broker. 
For now, Fyers is not highly recommended as they cannot handle high volatile markets.