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Fyers Review 2024 Demat, Brokerage Charges, Trading Platforms, Pros & Cons

January 3, 2024 by Ankit kumar
fyers review

Hey There! Are you looking for a Reliable stockbroker to invest in the Indian stock market? ๐Ÿค” Fyers might be the right choice for you. ๐Ÿš€ Fyers, was founded in 2015, is a rapidly growing online discount brokerage firm that offers a wide range of trading and investment services to retail and institutional investors. ๐Ÿ’ฐ In this Fyers review, we will provide a detailed analysis of their demat account, charges, brokerage, pros and cons, and recommended users based on our personal experience and expertise. ๐Ÿ”

Table of Contents

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  • Overview of Fyers
  • Fyers Demat Account Opening and AMC Charges in 2024
  • Fyers Brokerage Charges Explained
  • Fyers Trading Platforms
  • Fyers Pros and Cons
  • Customer Reviews and Ratings of Fyers
  • Steps to Open Fyers Account Online
  • ๐Ÿ“ Documents Requirements For Online Fyers Account Opening
  • Fyers Licenses & Registrations
  • Fyers Review Final Verdict
  • Frequently Asked Questions (FAQs)
  • Also Read our in depth Reviews on other Stock Brokers

Overview of Fyers

๐Ÿ“… Year of Incorporation 2015
๐Ÿ›๏ธ Products Investment products such as equity, derivatives, commodities, currency, mutual funds, IPOs, and bonds.
๐Ÿท๏ธ Broker Type Discount Broker
๐Ÿข Headquarters Bangalore, India
๐Ÿ‘ฅ Founder Tejas Khoday, Shreyas Khoday & Yashas Khoday
๐Ÿ“ˆ Active Exchange Memberships NSE, BSE, MCX, NCDEX

Fyers Demat Account Opening and AMC Charges in 2024

Fyers offers ๐Ÿ†“ free demat account opening that is entirely ๐ŸŒ online, with no account opening fees, and that takes less than 15 โฑ๏ธ minutes to complete. It has No Annual maintenance charges (AMC) for life. ๐Ÿ’ฐ

Type Account Opening ๐Ÿ“ (One Time) Annual Maintenance Fees ๐Ÿ’ฐ (Yearly)
Trading Account ๐Ÿ“ˆ Zero Charges ๐Ÿ’ธ Zero 0๏ธโƒฃ
Demat Account ๐Ÿ“Š Zero Charges ๐Ÿ’ธ โ‚น0 (Free AMC For Life) ๐Ÿ†“

Fyers Brokerage Charges Explained

Fyers – Equity Delivery & Intraday Charges

Equities delivery brokerage is Zero in Fyers . intraday brokerage is Rs 20 per executed order or 0.03%. (whichever is lower).

Charges Equity Delivery Equity Intraday
Brokerage Free โ‚น 20 / Executed Order Or 0.03% (Whichever Is Lower)
STT 0.1% ON BOTH Buy & Sell 0.025% On the Sell-side
Transaction / Turnover charges NSE : 0.00325% | BSE 0.00375% NSE : 0.00325% | BSE 0.00375%
SEBI Charges 10 Rs/Crore 10 Rs/Crore
GST 18% on (Brokerage + Transaction Charges + DP + SEBI Charges) 18% on (Brokerage + Transaction Charges + SEBI Charges)
Stamp Duty 0.015% Of Turnover Value (Buyer) 0.003% Of Turnover Value (Buyer)
DP Charges โ‚น 12.5 / Scrip Only On Sell No Charges
NSE IPFT Charges Rs 10 /Crore Rs 10 /Crore

Fyers – Futures & Options Charges

For Futures, the brokerage fee is Rs 20 (0.03%) for each executed trade (whichever is less). however options Are charged Flat at Rs.20/ order

Charges Equity Future Equity Options
Brokerage โ‚น 20 / Executed Order Or 0.03% (Whichever Is Lower) Flat โ‚น 20 / Order
STT 0.0125% on the Sell-side 0.0625% on the Sell-side (ON PREMIUM)
Transaction / Turnover charges NSE : 0.0019% On Total Turnover Value NSE : 0.05% on Premium
SEBI Charges Rs 10 /Crore Rs 10/Crore
GST 18% on (Brokerage + Transaction Charges + SEBI Charges) 18% on (Brokerage + Transaction Charges + SEBI Charges)
Stamp Duty 0.002% Of Turnover Value 0.003% On Premium
NSE IPFT Charges Rs 10 /Crore Rs 50 /Crore (On Premium Side)

Fyers – Currency Charges

Fyers Currency’s Charges is Rs 20 per executed order, which is 0.03%. (whichever is lower) for Futures and โ‚น 20 Per Executed Order for options

Charges Futures Options
Brokerage โ‚น 20 Per Executed Order Or 0.03% (Whichever Is Lower) โ‚น 20 Per Executed Order
STT/CTT Zero Zero
Clearing Charges 0.0005% 0.0005%
SEBI Charges Rs 10/Crore Rs 10/Crore
GST 18% on (Brokerage + Transaction Charges + Sebi Charges ) 18% on (Brokerage + Transaction Charges + Sebi Charges )
Stamp Duty 0.001% On Turnover Value (Buyer) 0.001% On Turnover Value (Buyer)

Fyers – Commodity Charges

Fyers Commodity Charges is Rs 20 per executed order, which is 0.03%. (whichever is lower) for Futures and โ‚น 20 Per Executed Order for options

Charges Futures Options
Brokerage โ‚น 20 Per Executed Order Or 0.03% (Whichever Is Lower) โ‚น 20 Per Executed Order
STT/CTT 0.01% sell side (Non-Agri) 0.05% sell side
Exchange Transaction Charges 0.0026% (Non-Agri) 0.05% (Non-Agri)
Clearing Charges 0.0018% 0.05%
SEBI Turnover Fee โ‚น10/Crore + GST (Non-Agri) โ‚น10/Crore + GST (Non-Agri)
GST 18% on (Brokerage + Transaction Charges + Sebi Charges+Clearing Charges etc ) 18% on (Brokerage + Transaction Charges + Sebi Charges+Clearing Charges etc )
Stamp Duty 0.002% on Buy Side 0.003% on Buy Side

Fyers Trading Platforms

Fyers Web ๐Ÿ’ป

Fyers Web

Fyers Web is a web-based platform that provides advanced trading tools and features. It includes a Tradingview Library ๐Ÿ“Š, direct trading via charts ๐Ÿ“ˆ, real-time ticker for bids/offers ๐Ÿ’ฐ, and readymade watchlists ๐Ÿ“œ. It also offers advanced charting with 24+ years of EOD data ๐Ÿ“‰ and real-time configurable option chains โ›“๏ธ.

Fyers App ๐Ÿ“ฑ

Fyers Application

Fyers App is a mobile trading platform that offers direct trade and investing with features like two-factor authentication ๐Ÿ”’ for secure transactions, customizable watchlists ๐Ÿ“‹, and advanced charts with technical indicators ๐Ÿ“ˆ and multiple drawing tools ๐Ÿ“.

Fyers One ๐Ÿ’ป

Fyers One

Fyers One is a desktop-based trading platform that provides features like a Heat Map ๐ŸŒก๏ธ, Market Dynamics ๐Ÿ“Š, and Index Meter ๐Ÿ“ˆ to help users understand market-wide movements and trends. It also includes stock screeners ๐Ÿ”, market data on equity ๐Ÿ“ˆ, commodities ๐Ÿ’ฐ, currencies ๐Ÿ’ฑ, and ADRs ๐Ÿ’น, and FII & DII data ๐Ÿ“Š.

Fyers Direct ๐Ÿ’ฐ

Fyers Direct

Fyers Direct is a mutual fund investment platform that allows users to invest in mutual funds directly from their Demat Account ๐Ÿ’ณ at no extra cost. It also offers the opportunity to invest in top companies and international stocks ๐ŸŒ, view all mutual fund holdings in one place ๐Ÿ“ˆ, and redeem mutual fund corpus with a single click ๐Ÿ’ฐ.

Fyers Thematic ๐ŸŒฑ

Fyers themantic investments

Fyers Thematic allows users to invest in ready-made portfolios that follow specific investment styles or themes, such as technology ๐Ÿ’ป, healthcare ๐Ÿฅ, or renewable energy ๐ŸŒž. It offers zero joining or signup fees ๐Ÿ†“, the ability to create and track portfolios based on specific themes or sectors ๐Ÿ“ˆ, and customized alerts for specific themes or sectors ๐Ÿ””.

Fyers Pros and Cons

Fyers Review 2024 Demat, Brokerage Charges, Trading Platforms, Pros & Cons

Pros

  • Low brokerage Charges
  • Multiple trading platforms, including a mobile app
  • Advanced charting and analytical tools
  • 24×7 customer support
  • Free delivery trading
  • Free Account Opening & No AMC
  • Access to Fyers API.
  • Invest in portfolios based on specific ideas or themes..
Fyers Review 2024 Demat, Brokerage Charges, Trading Platforms, Pros & Cons

Cons

  • Limited educational resources
  • Research & Advisory Services Are not Available
  • 3-in-1 Account Not Available.

Customer Reviews and Ratings of Fyers

Experience 8.7 / 10
Trading Platform 8.9 / 10
Product & Services 9.0 / 10
Brokerage Charges 9.5 / 10
Research 7.0 / 10
Overall Rating 8.89 / 10
Star Rating โ˜…โ˜…โ˜…โ˜…โ˜…

Steps to Open Fyers Account Online

If you want to open a Fyers Demat & Trading Account online, you can follow these steps: ๐Ÿ“ˆ

  1. Go to the official Fyers website ๐Ÿ”
  2. Click on the Signup Now ๐Ÿ“
  3. Enter your email and mobile number ๐Ÿ“ฑ
  4. Click on the “Send an OTP” option and verify your details by entering the OTP ๐Ÿ”‘
  5. Upload your PAN card photo or submit your KYC documents from DigiLocker to provide your identity details ๐Ÿ†”
  6. Enter your Aadhaar card number and OTP to fetch KYC documents from DigiLocker ๐Ÿ”‘
  7. Provide basic details such as father name, mother name, gender, and marital status ๐Ÿ‘จโ€๐Ÿ‘ฉโ€๐Ÿ‘งโ€๐Ÿ‘ฆ
  8. Submit your address proof ๐Ÿ 
  9. Add your bank account details and select your choice of segment/s to activate ๐Ÿ’ณ
  10. If you want to trade in the derivatives segment, you’ll need to upload a financial income proof ๐Ÿ’ฐ
  11. Provide additional information and add a nominee to your account (optional) ๐Ÿ‘ค
  12. Record a video of yourself with a clearly written OTP on plain white paper to go through the in-person/live video verification process ๐Ÿ“น
  13. Upload your photograph and signature ๐Ÿ“ท
  14. Enter your Aadhaar number and verify it with OTP to proceed to the e-sign now option ๐Ÿ”‘โœ๏ธ

Note: Once you have completed all the steps, your application will go under review, and the Fyers team will notify you via a welcome email that contains your account details ๐Ÿ“ง

๐Ÿ“ Documents Requirements For Online Fyers Account Opening

If you want to open a demat account with Fyers, you’ll need to provide the following documents:

  • โœ… Aadhaar ID
  • โœ… PAN Card ID
  • โœ… A bank account
  • โœ… Your signature and photograph
  • ๐Ÿ” *Income proof (Optional): You’ll need to provide proof of income if you want to trade in F&O or commodity.

Fyers Licenses & Registrations

Regulatory Body Registration Number
SEBI INZ000008524
DP IN-DP-432-2019
NSE 90061
MCX 56100
BSE 6697
CDSL 12089400
NSDL IN304502

Fyers Review Final Verdict

FYERS is a ๐Ÿ‡ฎ๐Ÿ‡ณ Indian Discount Broker that offers trading and investment products such as ๐Ÿ“ˆ equity, ๐Ÿ“‰ derivatives, ๐ŸŒพ commodities, ๐Ÿ’ฑ currency, ๐Ÿง‘โ€๐Ÿคโ€๐Ÿง‘ mutual funds, ๐Ÿ“ˆ IPOs, and ๐Ÿ’ฐ bonds.

For Investors, Fyers offers zero charges for account maintenance, ๐ŸŒŸ thematic investing platform, easy analysis and management of holdings, ๐Ÿ“š courses and webinars, and a direct platform for mutual fund schemes. For traders, Fyers provides well-researched reports, convenient trading with ๐Ÿ“Š charting tools and real-time market data, ๐Ÿ“– webinars and blog articles for market insights, ๐Ÿ’น price alert tool for opportunity and risk analysis, and ๐ŸŽจ drawing tools and over 100 technical indicators.

Fyers offers an array of trading tools and features to ease the trading experience, such as ๐Ÿ–ฅ๏ธ Fyers Web, ๐Ÿ“ฑ Fyers App, ๐Ÿš€ Fyers One, ๐Ÿ’น Fyers Direct, and ๐ŸŽญ Fyers Thematic. These trading tools provide users with advanced charting, direct trade and investing, customizable dashboards, and real-time market data. Fyers Direct also allows users to invest in mutual funds without paying any additional commission.

In conclusion, Fyers is a great platform for traders due to its advanced trading features and tools. However, it also caters to investors with its range of services. Fyers is a highly recommended platform for those who are looking for a seamless trading and investing experience. ๐Ÿ’ฏ

๐Ÿ‘‰ Open Fyers Account ๐Ÿš€

Frequently Asked Questions (FAQs)

What is Fyers ?

Fyers is an online brokerage firm for equities, mutual funds, and derivatives.

What trading platforms does Fyers offer?

Fyers offers Fyers Web, Fyers App, Fyers One, and Fyers Direct trading platforms.

What is Fyers Thematic?

Fyers Thematic is an investing platform that allows users to invest in theme-based portfolios.

Does Fyers charge any account maintenance fees ?

No, Fyers does not charge any account maintenance fees.

What are the trading tools offered by Fyers?

Fyers offers over 100 technical indicators, charting tools, real-time market data, and a price alert tool.

Does Fyers offer mutual fund investment services?

Yes, Fyers offers mutual fund investment services through Fyers Direct.

What is the Fyers Portfolio Analyzer?

The Fyers Portfolio Analyzer allows easy analysis and management of holdings.

What is Fyers One?

Fyers One is a desktop trading platform that provides market data, stock screeners, and heat maps.

What kind of reports does Fyers offer?

Fyers offers well-researched reports for better buy/sell decisions.

Is Fyers suitable for traders or investors?

Fyers is more suitable for traders than investors due to its advanced trading tools and platforms.

Also Read our in depth Reviews on other Stock Brokers

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Upstox Read Review
Groww Read Review
Angel One Read Review
Fyers Read Review
Upstox Read Review
Paytm Money Read Review
Zerodha Read Review

Disclaimer: The information in this article is only meant to be educational and informative. It should not be taken as financial advice. Investing in the stock market comes with risks. Before making any investment decisions, readers should carefully think about their own investment goals and how much risk they are willing to take. Before making any investment decisions, the reader should talk to a qualified financial advisor.

4.7/5 - (119 votes)
Categories Demat Account, Reviews, Stock Brokers Tags Fyers

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