Are you looking for a Reliable stockbroker to invest in the Indian stock market? 🤔 Fyers might be the right choice for you. 🚀 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. 💰 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. 🔍
Overview of Fyers
| 📅 Year of Incorporation | 2015 |
| 🛍️ Products | Investment products such as equity, derivatives, commodities, currency, mutual funds, IPOs, and bonds. |
| 🏷️ Broker Type | Discount Broker |
| 🏢 Headquarters | Bangalore, India |
| 👥 Founder | Tejas Khoday, Shreyas Khoday & Yashas Khoday |
| 📈 Active Exchange Memberships | NSE, BSE, MCX, NCDEX |
Fyers Demat Account Opening and AMC Charges in 2023
Fyers offers 🆓 free demat account opening that is entirely 🌐 online, with no account opening fees, and that takes less than 15 ⏱️ minutes to complete. It has No Annual maintenance charges (AMC) for life. 💰
| Type | Account Opening 📝 (One Time) | Annual Maintenance Fees 💰 (Yearly) |
|---|---|---|
| Trading Account 📈 | Zero Charges 💸 | Zero 0️⃣ |
| Demat Account 📊 | Zero Charges 💸 | ₹0 (Free AMC For Life) 🆓 |
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 | ₹ 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 | ₹ 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 | ₹ 20 / Executed Order Or 0.03% (Whichever Is Lower) | Flat ₹ 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 ₹ 20 Per Executed Order for options
| Charges | Futures | Options |
|---|---|---|
| Brokerage | ₹ 20 Per Executed Order Or 0.03% (Whichever Is Lower) | ₹ 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 ₹ 20 Per Executed Order for options
| Charges | Futures | Options |
|---|---|---|
| Brokerage | ₹ 20 Per Executed Order Or 0.03% (Whichever Is Lower) | ₹ 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 | ₹10/Crore + GST (Non-Agri) | ₹10/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 💻
Fyers Web is a web-based platform that provides advanced trading tools and features. It includes a Tradingview Library 📊, direct trading via charts 📈, real-time ticker for bids/offers 💰, and readymade watchlists 📜. It also offers advanced charting with 24+ years of EOD data 📉 and real-time configurable option chains ⛓️.
Fyers App 📱
Fyers App is a mobile trading platform that offers direct trade and investing with features like two-factor authentication 🔒 for secure transactions, customizable watchlists 📋, and advanced charts with technical indicators 📈 and multiple drawing tools 📏.
Fyers One 💻
Fyers One is a desktop-based trading platform that provides features like a Heat Map 🌡️, Market Dynamics 📊, and Index Meter 📈 to help users understand market-wide movements and trends. It also includes stock screeners 🔍, market data on equity 📈, commodities 💰, currencies 💱, and ADRs 💹, and FII & DII data 📊.
Fyers Direct 💰
Fyers Direct is a mutual fund investment platform that allows users to invest in mutual funds directly from their Demat Account 💳 at no extra cost. It also offers the opportunity to invest in top companies and international stocks 🌍, view all mutual fund holdings in one place 📈, and redeem mutual fund corpus with a single click 💰.
Fyers Thematic 🌱
Fyers Thematic allows users to invest in ready-made portfolios that follow specific investment styles or themes, such as technology 💻, healthcare 🏥, or renewable energy 🌞. It offers zero joining or signup fees 🆓, the ability to create and track portfolios based on specific themes or sectors 📈, and customized alerts for specific themes or sectors 🔔.
Fyers Pros and 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..
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 | ★★★★★ |
Steps to Open Fyers Account Online
If you want to open a Fyers Demat & Trading Account online, you can follow these steps: 📈
- Go to the official Fyers website 🔍
- Click on the Signup Now 📝
- Enter your email and mobile number 📱
- Click on the “Send an OTP” option and verify your details by entering the OTP 🔑
- Upload your PAN card photo or submit your KYC documents from DigiLocker to provide your identity details 🆔
- Enter your Aadhaar card number and OTP to fetch KYC documents from DigiLocker 🔑
- Provide basic details such as father name, mother name, gender, and marital status 👨👩👧👦
- Submit your address proof 🏠
- Add your bank account details and select your choice of segment/s to activate 💳
- If you want to trade in the derivatives segment, you’ll need to upload a financial income proof 💰
- Provide additional information and add a nominee to your account (optional) 👤
- Record a video of yourself with a clearly written OTP on plain white paper to go through the in-person/live video verification process 📹
- Upload your photograph and signature 📷
- Enter your Aadhaar number and verify it with OTP to proceed to the e-sign now option 🔑✍️
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 📧
📝 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:
- ✅ Aadhaar ID
- ✅ PAN Card ID
- ✅ A bank account
- ✅ Your signature and photograph
- 🔍 *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 🇮🇳 Indian Discount Broker that offers trading and investment products such as 📈 equity, 📉 derivatives, 🌾 commodities, 💱 currency, 🧑🤝🧑 mutual funds, 📈 IPOs, and 💰 bonds.
For Investors, Fyers offers zero charges for account maintenance, 🌟 thematic investing platform, easy analysis and management of holdings, 📚 courses and webinars, and a direct platform for mutual fund schemes. For traders, Fyers provides well-researched reports, convenient trading with 📊 charting tools and real-time market data, 📖 webinars and blog articles for market insights, 💹 price alert tool for opportunity and risk analysis, and 🎨 drawing tools and over 100 technical indicators.
Fyers offers an array of trading tools and features to ease the trading experience, such as 🖥️ Fyers Web, 📱 Fyers App, 🚀 Fyers One, 💹 Fyers Direct, and 🎭 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. 💯
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
| Stock Broker | Review |
|---|---|
| Upstox | Read Review |
| Zerodha | Read Review |
| Angel Broking | Read Review |
| Groww | 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.