Fyers is one of the most renowned discount brokers in the Indian Stock market industry which has provided a new way for stock market trading to clients and also opened various new possibilities using new technologies.
This article below is a Fyers Review which has all the aspects of the firm, starting from its history to its present condition and the customer’s review as well.
The article will give you a detailed idea about the brokerage charges and the other charges for the products and services offered by the firm.
|Broker Type||Discount Broker|
|Demat Account AMC||1st Year Free & Rs.300 per Annum|
|Margin Required||Zero Margin|
|Intraday Brokerage||0.01% or Rs.20 per Executed order|
What do you know about Fyers?
Fyers is a discount broker that started operating in year 2015 which makes it only a 4 years old company. However, in these four years, it has carved a niche for itself and made a name for itself.
This private firm has its own set of brokerage and other products and services to attract customers and the main attraction point is the cutting-edge technology that it provides to the customers. The Fyers Review will incorporate all such details.
The firm was incorporated by Tejas Khoday, Shreyas Khodey, and Yashas Khodey in the city of Bangalore and then they spread across the country and now have a Pan India presence. The headquarters of the firm is in Bangalore city of Karnataka at present and it operates in all the cities of the country.
|Know a few details about Fyers|
|Which type of Company is it? – Public / Private||Private|
|Which type of Broker is it? – Full Service / Discount||Discount Broker|
|Where is the registered office of the Company Located?||Bangalore, Karnataka|
|Who is the Founder of this Company?||Tejas Khoday, Shreyas Khodey & Yashas Khodey|
|When did the company start?||2015|
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What are the various Demat Account Opening Charges levied by Fyers?
Fyers Demat Account is linked to both the depositories of the country NSDL and CDSL and the Fyers Account Opening charges are nil. You can open the Demat and trading account with the firm for free.
This is one of the first things that catches everyone’s eye obviously. The maintenance of the Demat account is also free for the first year then it is chargeable at Rs. 300 per year which is quite nominal.
So, you are saving a lot of amounts here, with no account opening charges, no maintenance for the first year, and no maintenance at all for the trading account.
On top of that, you have to keep no balance in the trading account. Yes, there is no minimum margin requirement by the firm, you can keep it as per your wish and your trading requirement.
|Fyers Demat Account Opening Fees|
|Check out the various fees charged for Opening a Demat Account with Fyers|
|Which is the Depository Participant involved?||CDSL & NSDL|
|What are the Demat account opening charges?||Free|
|How much is the Demat AMC?||1st Year Free & Rs.300 per Annum|
|What is the Trading AMC?||Free|
|What is the initial Margin amount required?||Zero Margin|
|Is dematerialization available?||Yes|
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Do Fyers provide any Offers to their Clients?
Fyers Offers a free Demat account as you have read above, along with the trading account. However, the most important offer of this firm is the discount it provides on your brokerage of yours. So, with these discounts, one can reduce their brokerage amount to a great extent, and that increases the return on the investment.
|Here are the various offers provided by Fyers|
|Does the broker provide a Free Demat A/C offer?||Yes|
|Does the broker provide Free Trading A/C offer?||Yes|
|Is this broker offers a Discount on Brokerage?||Yes|
|Does the broker offer Happy hour trading to their clients?||No|
|Is the broking house provides a flexible brokerage plan?||No|
|Does the broker offer 1-month Free brokerage?||No|
|Are the Holiday offers provided by the broker?||No|
|Are there any referral offers shared by the broker?||No|
|Zero Brokerage for Loss-Making Trades||No|
What are the Brokerage Charges levied by Fyers on various Segments?
Fyers Brokerage Charges are obviously low as it is a discount broker. The brokerage charges are Rs. 20 at a max whether you trade equities or options. Moreover, the delivery trades are done for free which gives immense benefit to the clients of the firm.
The brokerage plan as you see above in the table given is either 0.01% of the executed order value of Rs. 20 and the lower of the two is taken as the real brokerage charge for each of the orders.
So, you can trade in bulk and pay only Rs. 20 as the highest possible brokerage for each of the orders. In the case of the options as you can see the minimum and maximum are the same and it is fixed at Rs. 20.
|Fyers Brokerage Charges|
|Here you will find details of brokerage levied by Fyers on all segments|
|What are the Equity Delivery Charges?||Free|
|What are the Equity Intraday Charges?||0.01% or Rs.20 per Executed order|
|How much brokerage charged for Commodity Trading?||0.01% or Rs.20 per Executed order|
|What is the brokerage on Equity Futures?||0.01% or Rs.20 per Executed order|
|How much brokerage charged for Equity Options?||Rs.20 per executed order|
|What is the brokerage on Currency Futures?||0.01% or Rs.20 per Executed order|
|What is the brokerage on Currency Options?||Rs.20 per executed order|
|How much is the Minimum Brokerage required?||Rs.20 per executed order|
|What is the Demat AMC?||Free for 1st year & Rs.300|
|How much is the Trading AMC?||Free|
|What is the Minimum Margin Required?||Zero Margin|
Does Fyers levy any other charges apart from Brokerage?
Apart from the brokerage charges, the other Fyers Charges are the statutory charges which are charged by all the stockbrokers as they are mandated by the SEBI and the government.
You have to pay GST at 18% on the brokerage and the transaction charges and all the other charges as mentioned in the above table. The only charge in this table which varies is the transaction charge and it is comparatively lower as well.
|Get a deep understanding of all other charges levied by Fyers|
|How much are the Transaction Charges levied?||0.00275% of Total Turnover|
|What are the STT charges?||0.0126% of Total Turnover|
|What are the SEBI Turnover charges?||0.0002% of Total Turnover|
|How much is the Stamp Duty levied?||Depends on State (very minimal)|
|How is the GST charged?||18% of (Brokerage + Transaction Charges)|
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What is the Limit or Exposure offered by Fyers?
As a discount broker, it provides quite a good leverage for the intraday segment and equity options segments as well. The Fyers Margin requirement is nil as you read above and against that, Fyers Exposure can be said to be really good. The firm provides 4 times leverage for the equity futures as well which is not even provided by many traditional brokers.
|Fyers Exposure or Leverage|
|Here you will find the exposure or limit provided by Fyers|
|How much is the limit on Equity Delivery?||Upto 2X|
|What is the limit on Equity Intraday?||Upto 5X|
|How much is the limit on Equity Futures?||Upto 4X|
|What is the limit on Equity Options?||Upto 5X|
|What is the exposure on Currency Futures?||Upto 3X|
|How much is the leverage on Currency Options?||Upto 3X|
|What is the limit on Commodity Trading?||Upto 3X|
How To Open Fyers Demat & Trading Account?
To open the Open Fyers Demat Account you have to
- Click on the link given below that says “Open Demat Account” which is for the application for the Fyers Demat account. The link will pop up a form for application.
- Fill out the form duly with the necessary details as asked in it. Make sure all the details are correct.
- Then you have to submit the form and you will get to another page where you have to upload documents related to the details.
- On this page, you have to upload the scan copies of the documents like PAN, Address proof, income proof, bank statement, and obviously AADHAAR card copy in order to verify your details and background.
- Once you submit these documents, you will receive a call from the executives of the firm who will confirm all the details and verify the details.
- Once the verification process is over, you will receive your account details and login credential, and then you can start trading.
It is simple to Open Fyers Trading Account and Demat account with Fyers using this article.
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What are the various Trading Platforms provided by Fyers?
As a discount broker, its main motto is to provide the best possible technology for trading apart from providing cheap brokerage plans.
The Fyers Trading Platforms are well designed and well thought off and made for the trading experience which is rich in both quality and quantity. The firm offers all three platforms which are Fyers Mobile App, Fyers Trading Terminal, and also the online trading platform.
Fyers Trading Terminal: Fyers One Trading Terminal
Fyers Trading Terminal is known as Fyers One which is a desktop-based software that you need to download on your desktop or laptop. It is a platform that is made for both kinds of investors who trade daily and who trade not so often and also for the fundamental and technical investors if you categorize them in that way.
Fyers Mobile Trading App: Fyers Markets Mobile App
The mobile application offered by the firm is known as Fyers Markets which requires internet with low bandwidth will also work and requires minimal space on your phone. The application is quick and can be sued for all kinds of trading needs.
Fyers Web Trading Platform: Fyers Web Trader
Fyers Web Trader is the online trading platform of Fyers which is one of the most advanced web-based trading platforms in the industry. The platform is having minimal features but all are fundamental and important and this has been done purposefully to keep the platform fast and easy to use and quick for trading.
|Fyers Trading Platforms|
|Here you will find all the essential trading platforms available with Fyers|
|Do they have Trading Terminals for Windows?||Yes|
|Do they have Trading Terminals for Mac?||Yes|
|Are they providing Web Trading Platforms?||Yes|
|Do they have a Mobile Web Platform?||Yes|
|Does this broker provide Mobile Trading App for Android?||Yes|
|Does this broker provide Mobile Trading App for iOS?||Yes|
|Are they having Mobile App for Windows OS?||No|
|Do they have Mobile Trading App for Other OS?||No|
What are the features available in Fyers Trading Applications?
The features of these platforms are varied and are detailed below –
Trading Terminal Fyers : Fyers One Trading Terminal Features
- You get thirty days of intraday data and historical data of 5 years and the charts are interactive and integrated with all these data to make your research foolproof.
- You are getting more than sixty technical analysis indicators and that keeps you updated about the price movements and aware of your moves.
- There are stock screeners which help you automatically filter the stocks that you want to see and track and this is done as per your preferences.
- With just a few clicks you get the world’s market updates
- Real-time data, market updates, and not only that various news about the businesses, economy, and market are always up on the screen for keeping you updated about the market happenings
- There are “Heat Maps” to provide you with specified information
Fyers Mobile Trading App: Fyers Markets Mobile App Features
- Relevant information with the help of Data Analytics
- There are fewer data cluttering
- The stock screener is present in the mobile application as well for you to choose the stocks automatically that you would like to track and invest in
- There are more than forty-three options strategies which are huge and really helpful
- Charts are available with proper real-time integration
Web Trading Platform Fyers: Fyers Web Trader Features
- You can track your portfolio on a real-time basis
- There are SIP calculators available on the site for calculating your profit and loss and the investment value of your investment
- There are various options and strategies available on this platform as well
- The platform is lightweight and has a huge responsive interface
|Fyers Trading Application Features|
|Here you will find various features available in Trading Platforms provided by Fyers|
|Are these platforms capable of Real-time Updates?||Yes|
|Do these Applications provide Portfolio Details?||Yes|
|Is this software providing Online MF Buy?||Yes|
|Do these platforms have News Flash?||Yes|
|Are these platforms providing Research Reports?||No|
|Are these platforms Easy to Install & use?||Yes|
|Do these Apps have Global Indices?||Yes|
|Are these platforms having Stock Tips?||No|
|Does this software provide Personalized Advisory?||No|
|Are these platforms capable of Interactive charting?||Yes|
|Do these Apps provide Live Markets data?||Yes|
|Do they provide SMS Alerts?||No|
|Are they providing Email Alerts?||Yes|
|Do these platforms have a Multi-Account Management solution?||No|
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What are the various Products provided by Fyers?
The range of Fyers Products is quite vast compared to other discount brokers who only provide the basic stock market instruments to trade.
The firm provides those fundamental instruments like equities, currencies as well as mutual funds, and SIP investment instruments as well. So, it is not that you are trading with a discount broker and thus you cannot invest in different asset classes. With Fyers you can trade all of them.
|Here are the various products provided by Fyers|
|Does the broker allow Equity Trading?||Yes|
|Does the broker allow Commodity Trading?||Yes|
|Do they have Currency Trading products available?||Yes|
|Do they provide Options trading?||Yes|
|Are the clients allowed to trade in Futures?||Yes|
|Do they have Mutual Funds as a product?||Yes|
|Does the broker allow Forex trading?||No|
|Does the broker have Banking products?||No|
|Is SIP allowed by the broker?||Yes|
|Do they have Insurance as a Product?||No|
What are the various Services offered by Fyers?
Fyers Services includes Demat services and trading services as the basic services that are offered by any stockbroker. It also provides IPO and intraday services to clients. Apart from these, it provides a margin trading facility which is another service.
However, it might seem that the number of services is less but it is a discount broker that we have to keep in mind as a discount broker, it provides all of the required services efficiently.
|Check out the various services provided by Fyers|
|Does the broking house provide Demat Services?||Yes|
|Does the broking house provide Trading Services?||Yes|
|Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C?||No|
|Do they provide Intraday Services?||Yes|
|Are they offering IPO Services to the client?||Yes|
|Do they have Stock Recommendations available?||No|
|Are they providing tools for Robo Advisory?||No|
|Does the broker provide PMS?||No|
|Do they have Trading Institution available?||No|
|What is the Trading Exposure this broker provides?||Upto 5X|
Does Fyers provide Research & Advisory to their clients?
As a discount broker, the firm needs not to provide any research services however, the Fyers Research team provides free Fyers Tips on stocks.
This is really a unique service provided by any discount broker. Fyers advisory services are not available and that is justifiable as well.
|Fyers Research, Advisory & Stock Tips|
|Here are the various research activities are done by Fyers|
|Does the broker share Fundamental Reports?||No|
|Does the broker share Research Reports?||No|
|Do they provide Company Reports to their clients?||No|
|Are they analyzing the Annual Reports of Companies?||No|
|Do they share Company Stock Reviews?||No|
|Are they sharing Free Stock Tips with their clients?||Yes|
|Do they analyze & share IPO Reports?||No|
|Does the broking company provide Top Picks?||No|
|Are they sharing Daily Market Review?||No|
|Do they have Monthly Reports?||No|
|Does the broker provide Weekly Reports?||No|
|Are they having Offline Advisory?||No|
|Do they provide Relationship Managers to clients?||No|
What are the Customer Care details of Fyers?
Fyers Customer Care is online all the time to assist you in regard to your online trading issues. They are available on chat and you can also shoot them a mail or call them.
They are one of the most dedicated customer support and help customers with dedication and with thorough professionalism.
|Fyers Customer Support|
|Let’s have a better understanding of the Customer Care Service of Fyers|
|Are they providing Dedicated dealers to their clients?||No|
|Do they allow Offline Trading?||No|
|Do they have facilities for Online Trading?||Yes|
|Are they providing 24*7 Support?||Yes|
|Does this broker provide Email Support?||No|
|Does this broker have Chat Support?||No|
|How many Branches the stock broker has?||No Branch|
Are there any Complaints filed against Fyers by their clients?
Though it is new in the market it got quite a few Fyers Complaints on both NSE and BSE. As you can see from the above table, there were 45 complaints on the BSE out of which 40 got resolved and on NSE there were 64 out of which resolved 58.
Though the numbers are comparatively negligible compared to its active client base it needs to develop its customer support and services in order to deal with the issues the clients are facing.
|Here you will know about the Complaints lodged against Fyers|
|What is the total number of Complaints Lodged in BSE?||45|
|How many of these complaints have been Resolved in BSE?||40|
|What is the total number of Complaints Lodged in NSE?||64|
|How many of these complaints have been Resolved in NSE?||58|
What Are The Advantages / Benefits Of Fyers Trading Account?
The advantages you get using Fyers Trading Account are –
- Lowest possible brokerage – you pay one of the lowest brokerages with Fyers and can trade for better profits
- There are trading platforms that are super advanced, they have been developing and upgrading them as well on a day-to-day basis. So, you get the best possible trading technologies.
- You have to keep no margin and you can get exposure to a certain level then as well which is a unique feature
- The online method of opening an account and everything more or less being online makes the processes easier and more transparent
- There are no account opening charges as well
What are the Fyers reviews & Ratings as per their Customer?
Fyers Ratings suggest that clients are super unhappy with the research and advisory services but they need to understand that discount brokers are called discount brokers because they are primarily for trading at low cost and thus they cannot have such infrastructure that is required for research and advisory services.
Apart from that, the Fyers Review by customers suggests that they are super satisfied with the brokerage charges and averagely satisfied with the trading platforms. All the aspects are rated average so they also need improvements.
|Fyers Ratings & Reviews|
|We are looking at Company’s Ratings on various parameters|
|Stock Market Research & Broking Advisory||3.0/10|
|Brokerage & other Charges like – Turnover, Transaction Charges, etc.||8.5/10|
|Types of Products & Services the Brand provides||5.9/10|
|Performance Mobile App, Trading Terminal & Web Trading Platform||6.0/10|
|Experience in the Broking Business||5.6/10|
|Total Avg. Rating of Broking House||5.7/10|
|Star Rating is given to Stock Broker||★★★☆☆|
|Number of People Contributed to These Ratings||123|
Fyers is a place where you can trade for the lowest brokerages in the industry and trade all kinds of instruments. This Fyers Review has been a comprehensive one and hopes it answered all your queries related to Fyers.
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