Fyers Review:

Fyers broker
Fyers broker

Fyers came into being in Bangalore 2015 a company started by a young entrepreneur who thought about building the best platform for trading. This company is known for its transparent functioning and low brokerage. It’s an online stock broker offering a trading platform. 

They offer you services in equity cash, future, and option as well as derivatives. FYERS full form is- “Focus Your Energy & Reform the Self”. 

This company is great at offering you a platform that gives you return converting sites. Being a low brokerage broker it becomes affordable for all classes of the community.

It charges you a brokerage fee of Rs. 20 per executed order and the trading can be done on- Website, mobile application as well as desktop trading.  A company offering free investment in equity delivery. 

It’s a world-class trading platform offering stock broking that helps Investor Bridge to returns. Join the largest community of traders and investors worldwide only with Fyers.  

It also offers you with a school of stocks to give you in-depth knowledge about trading and help you understand the market better. The owner of Fyers Tejas Khoday was hooked to the share market at just 16 years of age. 

So he designed a platform that is the growing platform of this market type. The benefit of trading with them is that you are not supposed to pay any brokerage on equity delivery and can also avail a refund on brokerage in 30 days.

Fyers broker rating & review
Fyers broker rating & review
Fyers Review 
Fyers Pricing & Charges
           #1 Account Opening Charges & Annual Charges
           #2 Fyers Brokerage Charges
           #3 Transaction & GST Charges
Fyers Products & Amazing Features
Leverage / Exposure / Fyers Margin / Limit 
Fyers Trading platform
            #1 Fyers One
            #2 Fyers Markets
            #3 Web Trader
            #4 Thematic Investing
Fyers Customer Rating
Office / Branches in India
Advantages/pro & Disadvantages/Cons
How to open Fyers Demat and Trading account
Contact Support customer care
Fyers FAQ

Fyers Pricing & Charges Review

Fyers doesn’t charge any account opening charge for both trading and AMC account and so there are no charges on account opening. While there is a charge of AMC worth Rs. 400 on Demat Account.  It’s easy to start an account rather than being worried about how to start when you do it with Fyers.

#1 Account Opening Charges & Annual Charges

Fyers offers Demat account services through Infrastructure Leasing & Financial Services – (IL & FS). Here are some Transactions that are payable while some are FREE. So let’s have an understanding of the transactions that you might encounter after signing up with the DEMAT account.

  • DEMAT Account Opening Charges = Rs.0 Free
  • Trading Account Opening Charges = Rs. 0 Free
  • DEMAT Account Annual Maintenance  Charges (AMC)=Rs. 0 Free
  • Trading Account Annual Maintenance  Charges (AMC) = Rs. 400

#2 Fyers Brokerage Charges

When you trade-in equity intraday you are meant to pay a brokerage of 20 per executed order. While trading in equity delivery is free from the brokerage. 

Also when you trade-in equity future and equity option you are bound to pay brokerage of 20 per executed order. While trading in currency future as well as currency option you are bound to pay 20 per executed order.

Let’s learn about the brokerage rate applicable on trading in various options of security market-

Trading InBrokerage FEE Applicable
Trading in Equity DeliveryBrokerage FREE
Trading in Equity Intraday20/- executed order
Trading in Equity Future20/- executed order
Trading in Equity Option20/- executed order
Trading in Currency future20/- executed order
Trading in Currency option20/- executed order
Commodity Future_
Commodity Option _

 #3 Transaction & GST Charges

There is Change in brokerage when you choose Equity Delivery, Equity Intraday, Trading in Future AND options are as follows-

CHARGESTrading in Equity DeliveryTrading in the FutureTrading in OptionTrading in Equity Intraday
Broker -Fyers Charges(if any)No charge, it’s absolutely free20 per executed order or 0.01% (whichever is lower)20 per executed orderWhile lower of 20/- executed order or0.01% is payable.
Security transaction tax (STT)0.1%  for both buying and selling side0.01% on Sell Side0.05% on Sell Side(on Premium)While 0.025% is payable on selling Side
Transaction / Turnover ChargesNSE: 0.00325% payableNSE: 0.0021%NSE: 0.053%NSE: 0.00325% payable
Goods and Services Tax (GST)18% on (Brokerage + Transaction Charge)18% on (Brokerage + Transaction Charge)18% on (Brokerage + Transaction Charge)18% on (Brokerage + Transaction Charge)
SEBI Charges15/Crore15/Crore15/Crore15/Crore

Note: – The stamp charges will apply state wise for all four trading options – trading in equity delivery, trading in equity intraday, trading in future as well as trading in option.

While GST of 18% (total cost of brokerage + transaction charges) is payable in the form of goods and service tax. You are only bound to pay STT when there is selling for intraday trading or trading of future or option. It also includes some hidden charges namely-

  • A cost of 20/order provides you with Call and Trade.
  • If you want to have a physical copy you need to pay an extra charge of 20 per contract and will also stand payable if you want the same to be sent to you by courier.
  • You are bound to pay a DP transaction charge worth 20 per transaction and also pay a depository charge. 

Other Charges / ISIN (Market Trades):

For Buying (Credit)No charge
For Selling (Debit)20 + 5.50 payable for Debit Transactions
For Buying (Credit)No charge
For Selling (Debit)20 + 5.50 payable for Debit Transactions
Dematerialization (Per certificate)2 / certificate
Remat (Per ISIN)25
Courier charges per Demat / Remat request35
Pledge/ ISIN0.05% of the transaction value subject to a minimum of 50 and a maximum of 250
Unpledged/ ISIN0.05% of the transaction value subject to a minimum of 50 and a maximum of 250
Pledge Invocation/ ISIN0.02% of the transaction value subject to a minimum of 50 + depository charges at actually
EmailFree
Physical50 (Courier Charges)
First Delivery Instruction BookFree (10 leaves)
Every Additional Booklet100 (10 leaves)
Cheque Bounce/ Per chequeAs per the bank
Failed Transactions30 per transaction

Fyers Products & Amazing Features Service

Fyers offers you many services by offering you products to invest upon that include the following. With this Broker, you get product offering like- equity trading, commodity trading, currency trading, option, future, mutual funds and SIP (systematic investment plan). 

With them, you get a vast range of products to invest in and avail returns in the form of (ROI) return on investment. Dealing in various deliverables offers you returns in the form of margin that might vary from deliverable to deliverable. 

But you can still know how much you can earn on your investments. Fyers don’t deal in a few services like- Forex, banking, and insurance. So if you are planning to avail those services don’t choose them and rather go with a broker that offers you with these services.

Products : 

Products : Services:
Demat Account Equity Trading
Brokerage Calculators Future Trading
Trading Account Option Trading
Fyers Web Currency Trading
Fyers One Commodity Trading
Thematic Investment Depository Services
Fyers Markets Stock Research Reports
fyers Margin Calculators Customer Support
Equity fyers Margin Calculator Online webinar
SPAN Calculator Advanced Charts
Call & Trade FYERS 30 Day Challenge
School of Stocks Real-time Screeners & Analytics

Fyers Leverage / Exposure / Fyers Margin / Limit 

This broker offers you the opportunity to earn a margin on your investment. Which means if you spend 500 shares you earn 1000 shares? 

As margin allows you to multiply shares, as a result, you get more shareholding in the company. So you also earn a margin up to 10 times when you trade in intraday. 

By investing in an equity future you can earn up to 2.5 times in intraday. While you don’t get margin on equity option. Intra-day trading is a time slot of 9.15am to 3.20pm. This time slot offers you the opportunity to earn a 40% margin overnight.

DeliveryMargin
intradayUpto 2 times
Equity futuresUpto 5 times
Equity optionsUpto 4 times
Currency futuresUpto 5 times
Currency OptionsUpto 3 times
CommoditiesUpto 3 times

Fyers offers you with borrowing funds to finance your assets. Use of debt to purchase or invest in assets. These help you with market exposure and tell you about the ratio of investment for trading to the total proportion of portfolio involved. 

So when you invest in intraday you earn up to five times of return. But for trading in equity, you earn an exposure of two times. When you trade-in equity derivative future you earn four times of exposure. 

And trading in equity derivative option you get five times exposure. While trading in currency future or option you earn three times of exposure. But investing in the commodity will offer you three times exposure. 

Fyers Open demat account
Fyers Open demat account

Fyers Trading platform

Fyers has come up with a trading platform that offers all the investors with trading platform benefits. You get front as well as backend features that offer you risk management and order management. So let’s learn about the platforms that can guide you on the same:

When you trade with this broker you get an opportunity to initiate a trade from any place. For users looking for a dedicated platform, you get “Fyers one” as a Trading Platform or Software. 

But if you prefer desktop access you get Web-based (fyers security login) and for mobile users, this broker has a mobile application named Fyers Mobile. 

When you sign up with this broker you get access to benefits like- online trade report, online PNL report, 30 days chart of the intraday facility, 3 years end of year chart facility. And you also get instant funds to withdraw the facility. 

But what you don’t get from this broker is relationship manager and opportunity to have access to 3 in 1 account. You also get tools like fyers Brokerage calculator, fyers margin calculator, user guide, order management system and charting. 

#1 Fyers One

It’s a trading terminal that offers you the facility of flexible working, getting a chart about service, screening the stock, portfolio tracker, Future and options analysis and end of day reporting. 

This eases you with trading, so go for it- if you want to get access to live updates. Take informed decision about trading and also provide you with- heat maps, stock screener, intraday scanner and real-time market help with respect to the analysis of option, market as well as a stock plan.

#2 Fyers Markets

An application named “Fyers Market” is available for download to keep track of your investments. It’s a trading application that offers trade aid in the form of devices compatible with android and iOS. 

You can avail features- stock screener, pre-loaded option, watch list, etc. You can transfer funders to and via this application. Using this application you can trade on the go and get real-time results. Which helps you with initiating on the go transactions offering the market opportunity for best returns?

#3 Fyer Web Trader review

It is designed to help you keep track of your investments and also provide you with a portfolio tracker, live data tracking and auto screened about investment options. 

Website traders and investors can use this web trader platform for their investment decision. Web trader is a website viewing platform that gives you eight charts at the same time. 

This helps you in many ways from knowing the price of intraday of future and the option to knowing the price since inception. It adds a lot of value in the life of investors which serves them with the information they need.

#4 Thematic Investing

This is an investment type that helps you with superior returns that focus on the idea of allocating capital accordingly and offer you returns. You take away from thematic investing are as follows-

  • You get access to great ideas.
  • Get an opportunity to invest in a diversified portfolio.
  • You don’t need to pay for hidden charges or subscriptions.
  • Helps you with a rebalancing of portfolio without facing hassle. Which means buying and

selling of portfolio will take place to create a balance? And ensure the original limit is kept intact. And balance of stock and bond or the securities you invested upon.

Fyers Customer Rating

People who invest in the market are the ones that know about trading. So, if we compare Zerodha with fyers here are the results. Zerodha leads when we compare the same with fyers. As Zerodha earns 95/100 while fyers only earns 90/100.

ProductRating
Overall Rating☆☆☆☆☆ 90/100
Fees ☆☆☆☆☆ 95/100
Brokerage ☆☆☆☆☆ 90/100
Usability ☆☆☆☆☆ 80/100
Customer Service ☆☆☆☆☆ 85/100

Fyers Office / Branches in India

It doesn’t have a physical office but it does have a corporate office in Bangalore and here it can be reached. Office Address – 

Fyers Securities: No. 19 & 20,3rd Main, Gandhinagar, Bangalore – 560009.

Contact Support customer care:  [email protected] 9:00am to 11:30pm

Fyers Advantages & Disadvantages

Fyers Advantages

  1. Fyers provides you with FREE Trading on Equity and prevents you to pay brokerage on trading.
  2. You earn a benefit of approx 20% by referring Your Contacts and earn extra bonus on your
    investment.
  3. The in-house platform allows you to implement new features quickly and effectively.
  4. Thematic investment is the most rewarding offering offered to the investor that helps you with investing in a group of stock.  
  5. Service and Transparent Management will help you takes effective decisions for you.
  6. Trading platforms make life easy and are free to use so no need to pay for the platform offered to you for trading.
  7. Best performing software that offers you all facilities relating to trading.
  8. Technical analysis is the base of this broker.
  9. It offers you only accurate data.
  10. Get free access to market information by using Fyers one.

Fyers Disadvantages

  1. It prevents you from paperwork when you choose to open an account with Fyers.
  2. It doesn’t have any depository service; therefore it’s yet to be provided by this broker. So it only offers you with IL&FS.
  3. Exchange transaction rates are a bit higher as compared to other brokers like Zerodha, Motilal, etc.
  4. They only have one negative and that is they have higher charges than discount brokers.
  5. The company is new and doesn’t have 3 in1 accounts or it supports trading in the commodity market.
  6. Investment in bonds and insurance segment is yet to arrive so far it’s not offered by this broker.
  7. You don’t get toll free number so every advice you get is chargeable. 

Reasons to open an account with Fyers

It’s important to understand the WHY of opening an account with Fyers. So let’s learn about the offerings offered by this broker to its investor and traders when they sign up with them –

  • Brokerage FREE Account opening for stipulated tenure.
  • Transparent functioning of the company.
  • Implementing new ideas for innovative investor experience.
  • Get never experienced trading journey with them.

How to open Fyers Demat and Trading account

Account opening is as easy as opening a Facebook account. All you need to do is fill the form mentioning all your details pertaining to KYC and trading account. Then you need to upload the required scanned copy of a document and photo. 

Then all you need to do is sign the document digitally using your Aadhar card details and you are all set to start your trading journey. Or you can also open the account by visiting the office physically.  

But filling the application form will remain constant.  As a new investor, you get eligible for availing free account opening for a stipulated period of time. On the account is successfully opened, you get an email confirming the information you need to

begin your trading journey. As an investor, you can download the trading and Demat account and

fill the same and sent the same back to the company. Thematic investment – This kind of investment helps you with more lucrative long term opportunity that helps investor earn long term gains. In this kind of investment you get researched portfolios to help you focus on ideas rather than focusing on stocks. Investing in the stock market has never been so Flexible and hostile. Earn best returns by allocating capital without any hassle.

Steps involved in opening a DEMAT and Trading Account with Fyers

For opening this account you need to ensure that you follow these steps and provide all necessary details asked by broker-

  • For account opening you need to provide us with some documents like- PAN Card, Address proof, income proof, photograph for ID proof and canceled cheque for bank proof.
  • You get an account opening form from the broker that needs to be filled and send back to their office.
  • Ensure the form is signed on a required portion of PDF and you agree to the terms mentioned.
  • Then send the completely filled document to Fyers via courier.
  • And get trading credentials for your trading account on your registered email ID with Fyers.

Fyers Backoffice Review

The back office plays an important role in the life of the user. So when you have back-office you have this portal provided to all types of login users be it client fyers login, branch login, admin login, sub-broker login, employee login, and referral login. 

Here you get access to check the last five years’ data. All you need is a user ID and password to have access. This portal is specific to people investing in Fyers securities and fyers commodities

Making an account registered with this broker will provide you with access to the account via ID and password that will help you log in to the portal and check the last five years’ data. For login, you must be registered with fyers to know about investing in various securities and commodities.

How to Close Fyers Demat Account

For those who are planning to close the DEMAT account by filling a form that mentions all the steps needed to comply with account closing. You need to fill the account opening form and once received by broker request will be processed. The PDF format of the Trading/DEMAT account is available for download from the Fyers website. Ensure that you know the basics-

  • For account closure, its important all your dues are cleared before closing the account. As the broker doesn’t close account until all dues are paid.
  • Signed application stating your intention of closing the account has to be mentioned. Therefore you can’t expect the closure of the account on call or email.

It offers you with satisfying customer service that helps you attain your investment goals. So in the financial year 2018-19, it only received 1 complaint out of 550 clients of BSE and 1 out of 2718. Being a solution provider it didn’t receive much complains and ended up serving more clients, therefore, less complains were reported against this broker

Fyers Compare With Discount Broker

Investment option Compare with Competitor

OfferingFyersZerodha
Trading in EquityIts offered by FyersIts offered by Zerodha
Trading in  Commodity It’s NOT offered by FyersIts offered by Zerodha
Trading in CurrencyIts offered by FyersIts offered by Zerodha
Mutual FundIts offered by FyersIts offered by Zerodha
MF SIPIt’s NOT offered by FyersIts offered by Zerodha
ETF InvestmentIts offered by FyersIts offered by Zerodha
InsuranceIt’s NOT offered by FyersIt’s NOT offered by Zerodha
BankingIt’s NOT offered by FyersIt’s NOT offered by Zerodha

Fyers Partner, Sub Broker and Franchise in India

For becoming a Sub broker of Fyers all you need to do is comply with the following. It all starts

with opening and Trading Account and DEMAT Account. Then you need to submit all KYC documents then an IPV will be done through a web camera or in person. Then your account opening will be processed and will be up and running in 4 to 5 days. Documents you need

to submit include- Passport size picture for ID proof, Aadhar, voter ID and driving license for address proof, PAN card for age proof and bank details to confirm your account verification.

You don’t need any deposit to be a franchise owner. Same is the case with sub-broker you don’t need to pay any deposit to be a sub-broker with Fyers. But if you be a part of the referral program you earn 20% of total revenue generated from your referral in a lifetime. While the remaining 80% will always belong to Fyers. 

Fyers Customer Complaints

It offers you with satisfying customer service that helps you attain your investment goals. So in the financial year 2018-19, it only received 1 complaint out of 550 clients of BSE and 1 out of 2718. Being a solution provider it didn’t receive much complains and ended up serving more clients, therefore, less complains were reported against this broker

Conclusion

Fyers despite being a new broker it has made its place in the security market. And continue to serve many investors with their service and platform that make life easy. So when you sign up with them you also get enrolled in the referral plan. So when you help broker with expansion and help in spreading their business you eventually grow with them. As they value customers that help the business with expansion. If you bring clients that convert with them then you earn a percentage of income for every converted referral. Opening an account with such a broker is not of loss and rather would help you take care of your investments wisely.

Fyers Frequently Asked Questions (FAQ)

1.      How to get In-Person Verification (IPV) done from Fyers?

IPV is a process of in-person verification which deals with verification through a web camera.

2.      Are there any trading plans offered by Fyers?

Fyers offer only one plan and that relates to the trading plan. So for investors planning to invest and open accounts with Fyers need to pay Rs. 20 for every trade of equity, Future and option and currency.

3.      Is it possible to open a trading account using the same PAN card number?

No, it’s against the policy norms so you cannot open multiple accounts with the same PAN card number with the same name and the same broker.

4.      Can I have more than one Demat account with Fyers?

As per the guidelines, an investor or trader can only have one trading account while they can open multiple Demat accounts based on their requirements. But ensure the account opened has the same name and PAN card number.

5.  Does Fyers return you the brokerage charged to them on trade?

Fyers as a broker has come up with a challenge of 30 days profitable where if the trader manages to be profitable then their brokerage cost will be reimbursed to them.

6.  Who can trade with this broker?

Any member can trade that is registered with SEBI (securities exchange board of India), BSE (Bombay stock exchange), NSE (national stock exchange) and AMFI (Association of Mutual Funds of India).

7.  Why should you choose Fyers for trading?

This broker is good at offering you Advanced Screener and trading features that help you make a wise decision. Offers you with good exposure limit facility that actually works. You get to pay only 20 per trade as a brokerage for intraday and future and option trading

8.  What are the trading platforms offered by them?

Fyers offers you three trading platforms namely- Offers you with the trading terminal named Fyers One. For mobile trade lovers, there is an application introduced with the name- Fyers Markets. There is also a website platform designed dedicatedly for website lovers and so for such users, there is a platform with the name Fyers Web Trader.

9.      Is Fyers free?

Opening an account with Fyers is FREE.  They don’t charge on opening a trading account.

10.  How do I get my money back from Fyers?

Yes, you can claim your money back from Fyers in 24 hours’ time.

11.  Is Fyers a genuine broker?

Yes, it’s a genuine broker that makes life easy with its authentic offering to its investors.

12.  Is it safe to sign Fyers POA?

Yes, it’s safe to sign a Power of Attorney to ensure your work gets done in time.

13.  Is Fyers good for intraday trading?

Yes, Flyer is safe and is good for earning higher margins or leverage in the intraday term.

14.  Is Fyers good for long term investors?

Yes, fyers provide you with technical analysis of stock and will make sure to guide you about best option. 

15.  Who is the owner of Fyers?

Fyers was founded by Tejas Khoday and Yashas Khoday in 2015 and is headquartered in Bangalore.

16.  How does Fyers earn?

Fyers offer you with 10% brokerage if you refer clients to them. So it’s their gesture of saying a gratuitous wish.

17.  Can I trade currency in Fyers?

Yes at Fyers you can trade in currency, equity derivatives, commodities, stock, ETF, etc. Therefore it’s possible with MCX that was launched in September 2018 which gives you access to all financial assets in one place. 

18.  How old is Fyers?

This company was found in 2015 and has successfully completed 4 years of service to investors. So you can rely on them and invest in the stock market.