Fyers Stock Trading, Demat, Brokerage and Reviews 2021


25.14% 45,003 Clients

Incorporated in 2015, Fyers Securities is a Bangalore based online discount stock broker. Fyers offers trading in Equity Cash, F&O and Currency Derivatives segments at NSE. FYERS word is an acronym of "Focus Your Energy & Reform the Self", representing the core values of the company.

The company is founded by young entrepreneurs who believes in building the best trading platforms, being transparent and keeping the cost of trading at its lowest in India.

Fyers is a low brokerage stock broker in India. They are among the cheapest stock broker online. Fyers simple pricing model offers trading across segments for same flat brokerage fee of maximum Rs 20 per executed order. No matter how big your order, Fyers charge maximum of Rs 20 per executed order. Fyer doesn't charge any brokerage in Equity Delivery segment.

Fyers offer in-house build web trading platform, installable desktop trading terminal and mobile trading app, all for free to its customers.

Thematic Investing at FYERS

Thematic (pronounced as THe'madik) Investment is about "investing in ideas" (i.e. group of stocks related to the idea) instead of choosing individual stocks. Fyers offers 100's of predefined themes (or portfolios) which customer can choose from to invest in stock market. Each theme has set of stocks which relates to the idea.

The closest comparison of thematic investment is Exchange Traded Funds (ETF's). The thematic investment offers lot more flexibility over etf's as the companies to invest in a theme are identified by the broker, fund-manage or even a group of people in a community.

How does Thematic investing works?

  • The broker provides set of themes representing ideas i.e. I want to invest in industries in Gujrat.
  • The broker identifies a list of companies matching the theme. Each theme includes number of stocks.
  • Investor choose a theme and invest in it.
  • The broker invest the money in to the individual stocks part of the theme in the proposition identified in theme.

Example:

  • Theme: Muthoot Group of Companies
  • Stocks in this theme:
    • Muthoot Finance Limited - 50%
    • Muthoot Cap Serv Ltd - 50%

If customer invests in this theme, the money gets invested in 2 stocks, 50% in each one of them.

Fyers Thematic Investing platform is a unique offering by Fyers. The key features includes:

  • Themes are available for free to use for Fyers customers. Customer pays only the brokerage at regular price.
  • A theme can be bought and sold in a single click. Investors can also sell or buy by modifying the theme and its constituents.
  • 100+ themes are available
  • Each theme has less than 20 stocks
  • Over 1500 stocks are covered

Fyers Special Offers

Free Equity Delivery Trading and Mutual Funds

  • Brokerage-free Equity Delivery. Flat Rs 20 per trade for Intraday & F&O.
  • Brokerage-free Direct Mutual Fund investment.
  • Trade with one of the best trading platforms in India.

This is a limited-time offer. Open FREE Fyers Account online and start trading today.


Fyers Charges 2021

Fyers Account Opening Charges

Trading and Demat Account Opening Charges

Rs 0 (Free)

Demat Account Annual Maintenance Charges (AMC)

Rs 300 per year*

* Demat AMC waived for 1st quarter of year 1.

Fyers Brokerage Charges

SegmentBrokerage Fees

Equity Delivery

Free (No Brokerage)

Equity Intraday

Rs 20 per executed order of 0.01% whichever is lower

Futures (Equity, Currency, Commodity)

Rs 20 per executed order of 0.01% whichever is lower

Options (Equity, Currency, Commodity)

Rs 20 per executed order

Fyers Equity Brokerage Charges Explained

Fyers ChargesEquity DeliveryEquity Intraday
Brokerage Rs 0 (Free) Rs 20 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 5/Crore Rs 5/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 ChargesFuturesOptions
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 5/Crore Rs 5/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 5 per Crore.

Other Charges (Fyers Hidden Charges):

  1. Call & Trade is available at an extra cost of Rs 20 per order.
  2. 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.
  3. 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.
  4. DP transaction charges for delivery based equity selling - Rs 10 per transaction + depository charges.

Visit Fyers Brokerage Charges Review for more detail.

Special Offer: Invest brokerage-free Equity Delivery and Direct Mutual Funds (Zero brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open FREE Demat Account online with Fyers and start trading today.

Fyers Trading Software (Fyers Trading Platforms)

Unlike most other brokers, Fyers has developed its own trading platform. This includes front end as well as backend (including risk management engine and order management system). The trading platform is still in evolution and tons of new features are being added every month.

Fyers trading platform has 3 major applications:

  1. Fyers One (Trading Terminal)

    Build for profession traders, Fyers installable trading terminal is loaded with industry standard features including advanced charting, flexible workspaces, F&O Analysis tools, stock screeners, advanced end-of-day reporting and portfolio tracker.

  2. Fyers Markets (Mobile Trading App)

    Built for traders and investors who likes to trade on the mobile phones, Fyers Markets is an advance mobile trading app with rich features. The mobile app is available for Android and iOS devices. Key feature of Fyers trading app includes multiple watch list, stock screener, pre-loaded options strategies, technical indicator and live stock quotes. Customers can also transfer funds to & from Fyers through this mobile app.

  3. Fyers Web Trader

    Build for investors/traders who are comfortable with website based trading, the Fyers Web Trader is fully functional online trading application. The Fyers Web Trader can be accessed from any web browsers. The feature of this application include portfolio tracker, auto-screened option strategies (multi-leg Orders) and live data feed.

 

Visit Fyers Trading Software Review for more detail.

Fyers Pros and Cons


Fyers Pros (Advantages)

The following are the advantages of Fyers. You must read Fyers advantages and disadvantages before opening an account with Fyers. Fyers pros and cons help you find if it suits your investment needs.

  1. Free online account opening.
  2. Free equity delivery trading. No brokerage for cash & carry trades.
  3. 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.
  4. No hidden charges. Very transparent fees/charges.
  5. In-house build trading platform offers flexibility to quickly implement new features/services.
  6. All trading software's are available for free of charge.
  7. Single margin account.
  8. Refer your friends and earn 20% of the revenues generated by your friends, for life!
  9. 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).
  10. Demat account without POA.

Fyers Cons (Disadvantages)

The following are the cons of Fyers. Check the list of Fyers drawbacks.

  1. Exchange transactions charges are higher than other discount brokers.

Open Instant Account with Fyers

Fyers Margin Exposure

Fyers margin for intraday trading is up to 6x based on the stock. Fyers F&O intraday trading margin is 1.3x across Equity, Currency, and Commodity trading at BSE, NSE, and MCX. There is no additional margin offered for Fyers F&O carry forward positions and equity delivery trades.

SegmentMargin
Equity Delivery1x (no margin)
Equity IntradayUp to 6x (based on the stock)
Equity Futures & OptionsIntraday - 1.3x, Carry forward - 1x of NRML margin (Span + Exposure)
Currency Futures & OptionsIntraday - 1.3x, Carry forward - 1x of NRML margin (Span + Exposure)
Commodity FuturesIntraday - 1.3x, Carry forward - 1x of NRML margin (Span + Exposure)

Note: As per the new margin policy by SEBI, the margin for trading will be decided by the exchange from Sept 01, 2021. Brokers cannot offer 'additional margin' like 20x in any segment at BSE, NSE, and MCX. All full-service and discount brokers will provide the same margin exposure to customers.


Fyers Ratings

Overall Rating Rated 3.2 stars 3.2/5
Fees Rated 3.3 stars 3.3/5
Brokerage Rated 3.7 stars 3.7/5
Usability Rated 3.2 stars 3.2/5
Customer Service Rated 3.4 stars 3.4/5
Research Capabilities Rated 1.7 stars 1.7/5

Based on 21 Votes by Fyers Customers

Do you trade with Fyers? Rate Fyers


Fyers Complaint

The number of Fyers customer complaint received by the exchanges. The Fyers consumer complaint report helps understanding the Fyers Securities Ltd quality and relibility of service.

Exchange Financial Year Number of Clients* Complaints** %
NSE 2021-22 45,003 36 0.08%
NSE 2020-21 35,963 129 0.36%
BSE 2020-21 491 2 0.41%
NSE 2019-20 14,189 24 0.17%
NSE 2019-20 7,099 3 0.04%
NSE 2018-19 4,805 4 0.08%
NSE 2017-18 1,827 6 0.33%

* The number of active customers reported by the broker.

** The total number of complaints received against the broker at the given exchange.

Visit Fyers Complaints at BSE, NSE and MCX for detail report.


Fyers Exposures (Margin)

  1. Intraday Trading: Fyers offers upto 16 times margin (or leverage or exposure) in Equity Intra-day segment. Margins are given only for Intraday trading. The actual margin depends on the script. Fyers doesn't offer any margin on delivery trades.
  2. Fyers Exposure for trading in Futures (Index or stocks) - Fyers lets clients take MIS (Margin Intraday Squareoff) positions with following margin:
    • Equity & Index futures - 4 times of NRML(Normal) margin (Order squared off at 3:20pm)
    • Currency futures - 2 times of NRML(Normal) margin (Order squared off at 4.30pm)
  3. Fyers Margin for Options - 4 times of NRML(Normal) margin (Order squared off at 3:20pm)

Fyers Margin Examples

  1. Equity: For example, assuming the leverage/margins is 16x on TCS stocks, it means that with ₹10,000 in your trading account, you can take a position of up-to ₹1,60,000.
  2. Futures & Options selling: Let's assume that the SPAN + Exposure margins for 1 lot of Nifty futures are ₹60,000. A leverage of 4 times (4x) means that you will be able to take a position with just ₹15,000 (15,000*4 = 60,000).
  3. Options Buying: For option buyers, SPAN + Exposure margins are not applicable. To initiate a trade, you will have to pay the entire premium for 1 lot. However, Fyers provided some leverage for near-month Nifty contracts. Normally, to buy Nifty 10800CE you'll have to pay the entire premium of ₹5250. (70 Price* 75 Lot Size). However, if you use cover orders to buy, you will get some margins/leverage and you can buy it for a lesser amount. With a leverage of 1.3x, you will be able to buy 1 lot with just ₹4040 (5250/1.3).

Fyers Membership Information

  1. Fyers SEBI Registration Number: INZ000008524 (Aug 06, 2015)
  2. Fyers NSE Member ID: 90061 (Aug 24, 2015)

Frequently Asked Questions

  1. 1. How to open Fyers account online?

    Fyers offers an instant account opening process when you have your Aadhar card linked to your current phone number for OTP authentication. This 100% online and paperless account can be online in just 1 day.

    Steps to open Fyers account

    • Visit the Fyers website
    • Click on 'Open An Account' tab on the home page
    • Enter mobile number, email and name and click on 'Generate OTP'
    • An OTP will be sent to your mobile phone
    • Enter the OTP and follow the process

    You will receive the newly created account details with login credentials to your registered Email ID within 24 hours.

    Keep photos/scanned copies of the following documents while opening your account.

    • Proof of Identity (PAN Card)
    • Address Proof: Passport / Voter ID / Ration Card / Driving License / Lease Agreement / Driving License
    • Income Proof (For trading in derivatives)- ITR acknowledgement / Salary Slip, Copy of Form 16 / Bank account statement for the last 6 months / Copy of demat account holding statement / Networth certificate
    • Bank Account Proof: Cancelled cheque leaf/passbook/bank statement with details of IFSC / MICR code.

     

     

  2. 2. What does Fyers 30 day challenge?

    Fyers 30 day challenge is a reward program intended to keep traders focused on profitability. As a part of the program, if you trade profitably for 30 days, the brokerage (up to Rs 10,000) charged during the period will be refunded by the company.

    The challenge is open for all trades across NSE, BSE and MCX.

    How Fyers 30 Day Challenge works?

    1. Click on FYERS 30 Day Challenge link available on your trading platform and click on 'Start'. The panel will display your start time, end time and days left.
    2. Keep trading for 30 days.
    3. After 30 days, if you are in net profits after accounting for brokerage charges and all the transaction costs, the brokerage charged up to Rs 10,000 during the 30 days will be refunded to you.

    Note:

    • You can participate in the challenge at any time. You can take the challenge consecutively throughout the year.
    • Profitability will be calculated across all segments and exchanges.
    • Stock dividends are not considered.
    • The brokerage refund will be processed on the 5th of every month or the next working day.

     

     


37 Comments

karme
37. karme  Jul 12, 2021 20:36 I Like It. | Report Abuse Reply
FYERS is useless app, very slow and not useful for day trading. Stop looting customers those who open account where you guys tell all charges are waived, then trap them with debit note. Cheaters in fyers team. I have used the chart of fyer for some time, very slow does not refresh, delayed by atleast few minutes inspite of having 200 mbps optic fibre net. Be honest, learn from big guys like zerodha. Atleast few important requirement of new traders if you guys meet would be great. Shamelessly dont rob people. Your support team is dummy bunch of jokers where they dont respond to any mails.

Ratings:

Brokerage - Average
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Majanu Thomas
36. Majanu Thomas  Jun 18, 2021 18:14 I Like It. | Report Abuse Reply
Fyers is my 6th brocker....In my experience only Zerodha is better than Fyers. Fyers Trading Platform far better than Zerodha. So far I am 100% satisfied with Fyers.
Rohith Ramanna
35. Rohith Ramanna  Jun 3, 2021 13:34 I Like It. | Report Abuse Reply
fyers web platform sucks even with high speed connections, terminal hangs during price spikes, causing delay in executing orders, fyers one platform is most pathetic platform with frequent disruptions

Ratings:

Brokerage - Below Average
Account Maintenance Fees - Below Average
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Below Average
Overall Experience - Very Poor
Abhijit Ghosh
34. Abhijit Ghosh  Apr 8, 2021 16:36 I Like It. | Report Abuse Reply
Simple Horrible. Sebi should ban them from operating. I am NRE customer. Had to go through so many processes to open the account. Things were going okay for the first year but things changes after the yes bank issue came up. Now all my balances are blocked with Fyers. They are not doing anything to resolve the issue. Taking advantage of the fact that I am staying outside of India. I would like to warn people to stay away from this company to avoid my situation.
Ankit mehta
33. Ankit mehta  Mar 12, 2021 18:23 I Like It. | Report Abuse Reply
Guys save your self.
This fyers broker is the worst.
The UI sucks big time
The support team is not at all supportive
I had to follow up with them 10 times to get my account closed.
They did not have hedge benefits in place
They messed up big time on 21 december.
They messed up GST collection for Jan and Feb month.
All in All not a broker that you want to trade with.
arun babu
32. arun babu  Mar 3, 2021 17:06 I Like It. | Report Abuse Reply
one bracket order executes as may ..fraud..pathentic service..only chart is good
Kanchan Kakkar
31. Kanchan Kakkar  Feb 23, 2021 14:42 I Like It. | Report Abuse Reply
They do not take any responsibility after opening the account. Customer service is pathetic. They never call back after a support ticket is opened. Responses given by different team members are inconsistent. There is no escalation process. Support tickets remain open for weeks and sometimes months with no follow up or closure. Team members keep changing and they was their hands off issues using that as an excuse. Processes are broken. They only say they'll call back, with no response for weeks & months.

Ratings:

Brokerage - Average
Account Maintenance Fees - Below Average
Website Usability - Average
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
KTR
30. KTR  Feb 21, 2021 19:31 I Like It. | Report Abuse Reply
1) Charts are good.
2) Apart from Point #1, nothing is good. You can expect glitches any time during market hours and during even off market hours also.
3) Be ready for any platform freeze/not working anytime and thus losses as a result.
4) TOP CLASS customer service that, you have to forget about customer experience. They don't even care about you. You won't get any respect from the team. They'll treat you like a beggar, begging at their office. This is their attitude right from the top of pyramid (CEO) till the bottom of pyramid.

Ratings:

Brokerage - Average
Account Maintenance Fees - Below Average
Website Usability - Below Average
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
mohanchotara
29. mohanchotara  Jan 27, 2021 16:55 I Like It. | Report Abuse Reply
trade exicute very slow.

Ratings:

Brokerage - Above Average
Account Maintenance Fees - Above Average
Website Usability - Average
Research Capabilities - Below Average
Customer Service - Below Average
Overall Experience - Average
Sudheer
28. Sudheer  Jan 15, 2021 16:27 I Like It. | Report Abuse Reply
They squared off some of my positions without consent. I complained and it happened again. The complaint is pending at MCX now. Their charts are good for back testing.

Ratings:

Brokerage - Average
Account Maintenance Fees - Average
Website Usability - Above Average
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Amit
27. Amit  Jan 6, 2021 18:30 I Like It. | Report Abuse Reply
India's biggest FRAUD Broker is FYERS.
It trades from your account and loots you for their commission. Pathetic service. Every alternate days their system is down. You don't get answers from them. They abuse the clients. FYERS do the stop loss hunting and also trades from ur account. Hai na trading aasaan. Sirf account open karo 30 dino mein aapka account khali. Aapko kuch karne ki jaroorat nahin.trading made easy by FRAUD FYERS.
Amit
26. Amit  Jan 6, 2021 18:23 I Like It. | Report Abuse Reply
It is a FRAUD Broker. FYERS trade in your account without clients permission for getting more brokerage and commission.
They LOOT you like anything. The actual brokerage applied by them is very high , as they do your stop loss hunting and fraud trades from your account. If you want to really trade then never ever chose FYERS as a broker.
Ekdum FRAUD Broker

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Binod Choudhury
25. Binod Choudhury  Dec 17, 2020 19:54 I Like It. | Report Abuse Reply
Fyers trading platform is pathetic and they are not support any customer. Not resolve any issue.
Today 17th dec20 I have buy option 31000 CE at 51 with BO .. SL rs 5 target rs 10. Order executed but position was not closed after achieved the target .
I have tried several times and send all attachment to their service centre. The closed my position at 11000 loss.

It can be empty my account. They have not done any help to me.

I request every one to not open account on Fyers . Dont trade please close your account and switch to any other broker. Or your account will be Zero soon.
Koushik Chakraborty
24. Koushik Chakraborty  Nov 3, 2020 21:08 I Like It. | Report Abuse Reply
I opened an account and deposited Rs 5000 and since then they are taking charges after charges. After every trade they are deducting money. I send closer forms 4 times to their address and raised complaint for immediate closing of account. But they are not closing the account and rather sending negative balance in the name of various charges. Do not open account with them.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Bhagyashree Gulhane
23. Bhagyashree Gulhane  Jul 8, 2020 16:55 I Like It. | Report Abuse Reply
Fyers customer service is pathetic. i have open the account with them and provided all the necessary documents still they are not enabling CNC orders.
I have raised this issue multiple times with support@fyers.in , they asked us to call sales person and close the ticket with out resolution
The customer sales assigned to me not even pick my phone and reject it.

Pathetic customer service
Shivaprasad S
22. Shivaprasad S  Apr 23, 2020 08:33 I Like It. | Report Abuse Reply
Charges lot of deductions and cannot acces the bills in app always need to login through computer based website to access our account deductions.
Very poor in trader convinience.

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Research Capabilities - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Abhi
21. Abhi  Mar 11, 2020 16:53 I Like It. | Report Abuse Reply
Stable platform what else u need ?

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Research Capabilities - Excellent
Customer Service - Excellent
Overall Experience - Excellent
Sudarshan Kalsulkar
20. Sudarshan Kalsulkar  Mar 1, 2020 10:07 I Like It. | Report Abuse Reply
Ive used Fyers for about 1.5 years now. Only once I had problems with order placement. That too was solved over phone. So overall happy with my experience.
Their GUI based trading experience is simply fantastic. Not aware of any other broker providing such experience.

Ratings:

Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Research Capabilities - Below Average
Customer Service - Excellent
Overall Experience - Excellent
Raju
19. Raju  Feb 24, 2020 18:57 I Like It. | Report Abuse Reply
In trading what u need at the EOD? ya its profit after all, that one beginner even with zero knowledge can get regular basis in FYERS only. My spouse uses FYER ONE desktop, it has at least 7 great Indicators, thats it, u can get which sector, sectorwise stocks, Indexes, scanners what more u need!! and above all 20x exposure in BO & 9x to 16x exposure in MIS intraday - its enough to get DAILY 10% MIN PROFIT if not more, & NO1 can gv in India a FREE PLATFORM like this, Zerodha BOGUS NEST giving daily losses, no clue for entry, I hp FYERS IN 2020 ONWARDS LL BE OF 10 MILLION MEMBERS
Karan Pillai
18. Karan Pillai  Nov 7, 2019 16:36 I Like It. | Report Abuse Reply
The worst account opening process! Have been waiting since 3 weeks to open a demat account!

Ratings:

Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
Fareen
18.1. Fareen  Feb 12, 2020 08:11 I Like It. | Report Abuse
Sir may adhare card update

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