Quick Summary: Fyers, a leading brokerage in India, is renowned for its cutting-edge technology platforms, including the Fyers 2.0 app, Fyers Next, and Fyers One terminal. The broker offers ultra-low brokerage fees of Rs 20 per order, the lowest NRI trading charges at Rs 50 per order, and provides free investment opportunities in stocks and mutual funds. Fyers is highly regarded for its user-friendly interface and transparent pricing model, making it an attractive option for traders and investors in the Indian market.
Introduction
Are you in search of a brokerage that offers a unique blend of cutting-edge technology, transparent pricing, and a user-friendly interface?
Look no further than FYERS.
As a personal finance expert, I understand the significance of choosing the right brokerage to enhance your trading experience.
In this comprehensive FYERS review, we will delve into the company’s offerings, from its state-of-the-art trading platforms to its 100% transparency and thematic investing features.
By the end of this review, you will gain valuable insights into the advantages, strengths, and potential areas for improvement, empowering you to make informed decisions and elevate your trading journey.
About FYERS
FYERS is a technology-driven online brokerage firm headquartered in India, offering a wide range of investment and trading solutions across equities, currencies, and commodities.
Founded in 2015 by young entrepreneurs with a passion for innovation, FYERS has steadily carved its niche with a focus on simplicity, transparency, and cutting-edge technology.
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Why Choose FYERS?
FYERS Review: Pros
FYERS is a prominent brokerage in India that provides a variety of features and perks to its customers. Here are some reasons why you might prefer FYERS over other brokers:
- FYERS charges a fixed price of ₹15 per executed order, which is lower than most other brokers in India.
- No minimum balance requirement: FYERS does not demand a minimum balance or margin to start a trading account, making it more accessible to a diverse spectrum of investors.
- Advanced trading platforms: FYERS offers a range of trading platforms, including a web platform, desktop platform, and mobile platform, as well as support for TradingView.
- Educational resources: FYERS provides a range of educational resources, including modules on basic and technical analysis, commodities, currencies, options, futures, and more.
- Wide range of products: FYERS offers a wide range of products, including equities, intraday trading, futures, options, commodities, currencies, ETFs, mutual funds, thematic funds, IPOs, bonds, insurance, PMS/advisory services, digital gold, US stocks, fixed deposits, and loans.
If you see, overall, FYERS offers a competitive brokerage fee, advanced trading platforms, and a wide range of products and educational resources, making it a good choice for investors looking for a comprehensive trading experience.
FYERS Review: Cons
While FYERS has many advantages, there are also some potential drawbacks to consider:
- Limited physical presence: FYERS is primarily an online broker, which means that it may not be as accessible to investors who prefer to have a physical branch or office to visit.
- Limited research and analysis tools: While FYERS does offer some educational resources, its research and analysis tools may not be as comprehensive as those offered by other brokers.
- Limited customer support: Some users have reported that FYERS’ customer support can be slow to respond or unresponsive at times.
- Limited margin funding options: FYERS offers margin funding only through a few banks, which may limit the options available to investors.
- Limited international trading options: While FYERS does offer trading in US stocks, it may not be as comprehensive as other brokers that offer a wider range of international trading options.
So, it’s important to consider both the pros and cons of any broker before making a decision, and to choose a broker that best fits your individual needs and preferences.
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FYERS Trading Platforms
To meet the various demands of traders and investors, FYERS provides a range of trading platforms.
These platforms aim to offer a smooth and user-friendly trading experience. Among the major trading platforms that FYERS provides are:
FyersWeb
Thisplatformhasspecialfeatureslikedraganddroptradingandisbasedoncutting-edgeTradingViewtechnology.
Traditionaltradershavealwaysloveditfortradingandinvesting.
FyersApp
Withitsmanydistinctivefeaturesandeasydatasyncing,theFyersappstreamlinesdirecttradeandinvesting.
Becauseofitsintuitivecharacteristics,tradingandinvestingarecompletedmorequickly.
FyersOne
Withcutting-edgeanalyticalcapabilities,FyersOneisapowerfuldesktoptradingplatform.
Ithasaplethoraoffunctionsthatareintendedtobenefittheuser,givingtheminsightintotrendsandmovementsinthemarket.
FyersThematic
Usingthisplatform,investorsmaypurchasepre-madeportfoliosthatareorganizedaccordingtospecificthemes.
Expertlycrafted,thesebasketsletusersquicklyandsimplyapplypre-madeportfolios.
ThirdPartyIntegratedPlatforms
FYERSoffersavarietyoftradingtoolsandanalyticsfortradersandinvestorsthroughinterfaceswithsomeofthetopthird-partyplatforms.
These platforms are designed to provide users with the tools and resources they need to make informed trading decisions and execute trades with ease.
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FYERS Review: Charges Details
Its super easy to calculate charges at FYRES.
Just notice the below images. You will find four different tabs: Equity, F&O, Currency and Commodity
You have to select NSE or BSE and enter the required details to get exact charges both for delivery and intraday.
Fyers Account Opening Charges
FYERS does not charge any account opening fees for trading or Demat accounts. Here are the specific charges for account opening and annual maintenance charges (AMC):
- Trading Account Opening Charges: Rs 0 (Free)
- Trading Annual Maintenance Charges (AMC): Rs 0 (Free)
- Demat Account Opening Charges: Rs 0 (Free)
- Demat Account Annual Maintenance Charges (AMC): Rs 0 (Free)
However, FYERS does charge a Demat debit transaction fee of ₹7 + ₹5.50 flat for every debit transaction.
Additionally, there are some other charges for services like call & trade services, admin square off charges, and Demat debit charges.
Fyers Brokerage Charges
FYERS charges the following brokerage fees:
- Equity Delivery: Free
- Equity Intraday: ₹20 per executed order or 0.03% whichever is lower
- Equity Futures: ₹20 per executed order or 0.03% whichever is lower
- Equity Options: ₹20 per executed order
- Currency Futures: ₹20 per executed order or 0.03% whichever is lower
- Currency Options: ₹20 per executed order
- Commodity Futures: ₹20 per executed order or 0.03% whichever is lower
- Commodity Options: ₹20 per executed order
FYERS also collects government taxes and fees, which are reflected in the contract note provided to the consumer at the end of the day.
FYERS does not impose an account opening fee for trading or Demat accounts.
. However, there are various extra charges for services such as call and trade services, administrative square off expenses, and Demat debit charges.
How to open FYERS Account online?
You can initiate the signup process here. You will land at the above screen.
However, the detail process is as under:
- Visit the FYERS website and click on the ‘Open An Account’ tab on the home page.
- Enter your mobile number, email, and name, and click on ‘Submit’.
- Fill out the online application and upload scanned copies of documentation such as a PAN card, address proof, and income proof (for derivative trading).
- FYERS will verify your online account opening application and send you a welcome email within 24 hours with your client ID and password.
- Complete the in-person verification (IPV) process, in which an FYERS approved employee verifies your identity by seeing you or using a webcam.
- Once your account has been opened and activated, you will receive a welcome email with the necessary information to begin trading with FYERS.
It’s worth noting that FYERS offers 100% paperless account opening, and you can also download the PDF forms for trading and Demat accounts from their website if needed.
Additionally, if you are an existing trading account holder, you can open a FYERS Demat account by visiting the Demat account opening page on their website.
Fyers Customer Care info
FYERS has several ways to contact their customer support service. Here are several ways to reach FYERS customer support:
- Email: You can email FYERS customer support atsupport@fyers.infor any queries or issues.
- Phone: You can call FYERS customer support at +91 806 000 1111 for any assistance.
- Help Center: FYERS has a help center on their website where you can find answers to frequently asked questions and submit a support ticket for any issues.
- Sales Team: If you are new to FYERS, you can contact their sales team by calling +91 80 4569 9999.
FYERS does not charge any account opening fees for trading or Demat accounts, and their customer assistance is available Monday through Friday, 9:00 a.m. to 5:00 p.m.
Conclusion
In conclusion, FYERS is an excellent solution for investors seeking a low-cost, all-encompassing trading environment.
FYERS provides significant value to its clients through low brokerage costs, modern trading platforms, and a diverse choice of products and educational materials.
While there are certain negatives to consider, such as minimal physical presence and customer service, they are surpassed by the numerous benefits that FYERS offers.
FYERS has provided me with excellent service.
The account opening process was quick and simple, and their customer service team was always there to answer any queries I had.
I appreciate FYERS’ instructional offerings, which have helped me enhance my trading skills.
Furthermore, the reduced brokerage fees have enabled me to save money on my trades, which is always beneficial.
Overall, I would strongly suggest FYERS to anyone searching for a dependable and reasonably priced trading platform.
FAQs
Is FYERS a reliable broker?
Yes, FYERS is considered a safe and reliable stock broker.
The company is founded by young entrepreneurs who believe in being transparent and offering a simple pricing model. FYERS doesn’t do proprietary trading and doesn’t use client deposits for speculative purposes.
The company pays extra attention to risk management at all times.
Additionally, FYERS offers all its services online and has a limited physical presence, which offers a substantial cost advantage in terms of reducing operating expenses.
Is FYERS good for beginners?
Yes, FYERS is suitable for beginners due to its user-friendly platforms, free equity delivery trading, ultra-low brokerage charges, and the 30-day challenge, which encourages discipline and offers a refund of brokerage charges if the trader is profitable for 30 days.
The platform also provides world-class charts, maximum leverage, low latency, and the fastest trade execution, which can be beneficial for beginners.
Additionally, FYERS offers advanced screeners and real-time data analytics, empowering traders and investors.
What are the disadvantages of FYERS?
The disadvantages of FYERS include the absence of candlestick indicators for trading, limited options trading features such as the lack of greeks for options trading, and higher exchange transaction charges compared to other discount brokers.
Additionally, the platform does not offer proprietary trading or a wide range of investment options such as mutual funds, insurance, and bonds
Is my money safe with FYERS?
FYERS is committed to ensuring the safety and security of its users’ funds.
The company uses 256-bit encrypted vaults and other reliable security protocols to protect users’ funds.
Additionally, FYERS’ policy of no proprietary trading and its debt-free status make it a safe broker for trading and long-term investment.
While investing in equities and commodities can be relatively risky, FYERS’ focus on risk management and transparency can help mitigate these risks.
Overall, FYERS takes trust and security seriously and has implemented measures to ensure the safety of its users’ funds
Is FYERS SEBI approved?
Yes, FYERS is SEBI (Securities and Exchange Board of India) approved and registered as a stockbroker with SEBI registration number INZ000008524.
FYERS is also a member of major stock exchanges like BSE, NSE, and MCX, and a depository participant (DP) with CDSL.
As a registered stockbroker, FYERS follows all the regulations laid out by SEBI and the stock exchanges, ensuring a safe and reliable trading experience for its users.
Is FYERS good for intraday?
Yes, FYERS is good for intraday trading.
It offers a range of trading platforms, such as Fyers Web, Fyers App, and Fyers One, which are designed to provide a seamless and intuitive trading experience, empowering users to make informed decisions and execute trades with ease.
Additionally, FYERS offers ultra-low brokerage charges, free equity delivery trading, and maximum leverage, making it a suitable choice for intraday traders
Is FYERS brokerage free?
Yes, FYERS offers free equity delivery trading, making it an attractive option for investors who engage in long-term stock holdings.
Additionally, the brokerage charges a flat fee of Rs. 20 per trade across other segments, making it highly cost-effective for traders
What is the full form of FYERS?
The full form of FYERS is “Focus Your Energy & Reform the Self.”
This acronym represents the core values of the company, reflecting its commitment to empowering traders and investors with best-in-class products and tools while promoting self-improvement and transparency.
Who is owner of FYERS?
Tejas Khoday is the co-founder and CEO of FYERS, a technology-oriented brokerage house in India. He started FYERS in 2015 with the goal of providing a world-class experience and transforming the trading/investment landscape for everyone.
Is TradingView free with FYERS?
Yes, TradingView is free with FYERS. FYERS Web is built on advanced TradingView technology, offering unique features such as drag and drop trading.
All the features offered by TradingView to third parties are available on the FYERS platform.
Is there a minimum deposit for FYERS?
No, there is no minimum balance requirement to open an account with FYERS. However, to start trading or investing, users will need to deposit funds into their account
Is pledging free in FYERS?
Yes, pledging of securities via FYERS platform is completely free of cost.
There are no charges involved when you pledge securities, and you can easily pledge and unpledged your holdings at zero cost.
Additionally, FYERS does not charge any interest on the funds released by pledging your government securities.
What is the 50 50 rule in FYERS?
The 50-50 rule in FYERS refers to the policy that clients must maintain a minimum of 50% in cash or cash equivalents of the total margin required to take any position/s.
If the clients are not maintaining the 50-50 Cash Collateral margins, they will be levied late payment charges at 18% p.a. (0.05% per day) on the debit cash balance in their trading account
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