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

Contact FYERS / Request a Call Back

Get the best deal when you open account through us
 

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 charge a maximum of Rs.20 per executed trade.

Trading Segment Brokerage Charges
Equity Delivery Rs 0 (Free Unlimited Equity Delivery Trades)
Equity Intraday 0.01% or Rs 20 per trade whichever is lower
Equity Future 0.01% or Rs 20 per trade whichever is lower
Equity Options Rs 20 per executed order
Currency Futures 0.01% or Rs 20 per trade whichever is lower
Currency Options Rs 20 per executed order
Commodities 0.01% or Rs 20 per trade whichever is lower

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 Equity Brokerage Charges Explained

Fyers Charges Equity Delivery Equity Intraday
Brokerage Rs 0 (Free) Rs20 per executed order or 0.01% (whichever is lower)
STT 0.1% on both Buy and Sell 0.025% on the Sell Side
Transaction / Turnover Charges NSE: 0.00325% NSE: 0.00325%
Goods and Services Tax (GST) 18% on (Brokerage + Transaction Charge) 18% on (Brokerage + Transaction Charge)
SEBI Charges Rs 15/Crore Rs15/Crore
Stamp Charges* State wise State wise

Fyers F&O Brokerage Charges Explained

Charges for Equity, Currency and Commodity F&O Trading at NSE and MCX.

Fyers Charges Futures Options
Brokerage Rs 20 per executed order or 0.01% (whichever is lower) Rs 20 per executed order
STT 0.01% on Sell Side 0.05% on Sell Side(on Premium)
Transaction / Turnover Charges NSE: 0.0021% NSE: 0.053%
Goods and Services Tax (GST) 18% on (Brokerage + Transaction Charge) 18% on (Brokerage + Transaction Charge)
SEBI Charges Rs 15/Crore Rs 15/Crore
Stamp Charges* State wise State wise

Fyers Fee Structure Explained:

  • STT: Charged only on the sell side for intraday and F&O trades. It is charged on both sides for delivery trades in equity segment.
  • *Stamp Duty for all states in India and NRIs: Charged based on the state where customer lives.
  • Goods and Services Tax (GST): This is charged at 18% of the total cost of brokerage plus transaction charges.
  • SEBI Charges: This is charged at Rs 15 per Crore.

Fyers Demat Account Charges

Fyers offers demat account services through IL&FS. IL&FS's charges for demat account transitions are as below:

S.No Transaction Charges
1 Demat Account Opening Charges  
2 Stamp Charges payable upfront (at actuals)  
3 Annual Maintenance Charges (AMC):
  a. Individuals Rs 400 Per Year (Payable upfront every year)
  b. Corporates Rs 500 (Payable upfront every year)
4 Transaction Charges per ISIN (Market Trades):
  a. Buy (Receive) Rs 0
  b. Sell(Debit) Rs 20 + Rs 5.50 flat for every debit transaction
5 Inter Depository Transfer (Off-Market Trades):
  a. Buy (Receive) NIL
  b. Sell(Debit) Rs 20 + Rs 5.50 flat for every debit transaction
6 Dematerialization (Per certificate) Rs 2 per certificate
7 Remat (Per ISIN) Rs 25
8 Courier charges per Demat/ Remat request Rs 35
9 Pledge per ISIN 0.05% of the transaction value subject to a minimum of Rs 50 and a maximum of Rs 250
10 Unpledge per ISIN 0.05% of the transaction value subject to a minimum of Rs 50 and a maximum of Rs 250
11 Pledge Invocation per ISIN 0.02% of the transaction value subject to a minimum of Rs 50 + depository charges at actually
12 Periodic Statement:
  a. By Email Free
  b. Physical Rs 50 (Couier Charges)
13 Adhoc / Non Periodic Statement Requests:
  a. By Email Rs 10 per request
  b. Physical Rs 25 per request (up to 10 pages). Additional page at Rs 5 + Rs 35 (Couier Charges)
14 Delivery Instructions:
  a. First Delivery Instruction Book Free (10 leaves)
  b. Every Additional Booklet Rs 100 (10 leaves)
15 Cheque Bounce/ Per cheque As per the bank
16 Failed Transactions Rs 30 per transaction
17 Modification in CML -
18 KRA Upload / Download -

FYERS Other Charges

  • Call & Trade is available at an extra cost of Rs 20 per order.
  • Admin Square Off is charges additional at Rs 20 per executed order. This is applicable for all MIS/BO/CO positions which are not square off by the customer.
  • Digital Contract notes are sent via Email. Physical copies of contract notes can be ordered at additional charge of Rs 20 per contract. Courier charges are extra.
  • DP transaction charges for delivery based equity selling - Rs 20 per transaction + depository charges.

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 Advantages
  1. Fyers offer free equity delivery trading. They don't change any brokerage for cash & carry trades.
  2. Discount stock broker offering ultra low brokerage. Fyers charge flat Rs 20 per trade maximum brokerage across trading segments and irrespective to the size of the trade.
  3. In-house build trading platform offers flexibility to quickly implement new features/services.
  4. Refer your friends and earn 20% of the revenues generated by your friends, for life!
  5. Thematic investment (a unique offering by Fyers) allows customers to invest in group of stocks. The companies are grouped together (as theme) based on ideas (certain criteria's).
  6. No hidden charges. Very transparent fees/charges.
  7. All trading software's are available for free of charge.
Fyers Disadvantages
  1. Doesn't offer paperless online account opening.
  2. Doesn't have its own depository services. The demat accounts are offered through IL&FS.
  3. Exchange transactions charges are slightly higher than other discount brokers.
  4. Demat account charges are higher as DP services are offered by another company (IL&FS).

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. 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 brokers. Time will see if Fyers might be next Big broker.