Fyers

Overview

Established in 2015, Fyers Securities is a Bangalore-based online discount stock brokerage firm. Fyers facilitates trading in Equity Cash, F&O, and Currency Derivatives segments. The term FYERS stands for "Focus Your Energy & Reform the Self", embodying the company's core principles.

The company was established by young entrepreneurs who are committed to developing top-notch trading platforms, maintaining transparency, and minimizing trading costs in India.

Fyers is recognized as a low-cost stock broker in India, offering highly competitive pricing. They are among the most affordable online stock brokers. Fyers' straightforward pricing structure allows for trading across various segments at a flat brokerage fee of no more than Rs 20 per executed order. For the Equity Delivery segment, Fyers charges a brokerage fee of 0.03% or Rs 20, whichever is lower.

Fyers provides its customers with a range of free trading platforms, including an in-house developed web trading platform, a downloadable desktop trading terminal, and a mobile trading app.

Fyers Member Code and SEBI Registration

Insta Options

Fyers provides Insta Options, a sophisticated platform designed to optimize Futures and Options evaluation and execution, serving both beginner and seasoned traders. It offers a broad range of features to develop, evaluate and implement trades, enabling you to make well-informed decisions and identify lucrative opportunities.

The following are the primary features of Insta Options by Fyers:

• Strategy Builder with Payoff Graph: Design and visualize customized trading strategies with projected profit and loss outcomes.
• Predefined Strategies Aligned with Market Trends: Leverage pre-designed strategies tailored to current market conditions, whether bullish, bearish, or neutral.
• Combined Premium Charts with In-Depth Analysis: Evaluate and compare strategy price charts with aggregated premium data.
• Comprehensive Options Dashboard: Obtain a unified view of the market with detailed index data and stock buildup insights.
• Multi-strike Open Interest Analysis: Compare contracts across various strike prices for enhanced market sentiment insights.
• Open Interest Statistics: Access key metrics like Put-Call Ratio and option charts to refine trading strategies.

Fyers Brokerage Charges

Fyers adheres to a fixed brokerage model, where it imposes a flat fee of Rs 20 or 0.03% (whichever is lower) per executed order. For equity delivery, the brokerage charge is 0.03% or Rs 20, whichever is lower. The maximum brokerage charge per order is capped at Rs 20.

Fyers Equity Brokerage Charges Explained

Fyers F&O Brokerage Charges Explained

The Fyers F&O brokerage charge is a flat Rs 20 per executed order or 0.03% (whichever is lower). Additionally, taxes such as STT, transaction fees, GST, SEBI charges, and stamp duty are applicable.

Fyers Fee Structure Explained

• The Securities Transaction Tax is only applicable on the sell side for intraday and F&O trades, while it is charged on both sides for equity delivery trades.
• The Goods and Services Tax is levied at 18% of the total brokerage and transaction charges.
• SEBI Charges are imposed at a rate of Rs 10 per crore.
• The Stamp Duty for equity delivery is 0.015% on the buy-side, while for equity intraday, it is 0.03% on the buy-side.

Other Charges

Fyers has additional brokerage charges, including call and trade charges, position squared off by the broker, and SMS trade alerts, as outlined below:

1. Call and Trade services are available for an extra fee of Rs 50 per order.
2. Admin Square Off charges incur an additional Rs 50 per executed order, applicable to all MIS, BO, and CO positions not squared off by the customer.
3. Digital contract notes are sent via email, while physical copies can be ordered at an additional Rs 20 per contract, with courier charges extra.
4. DP transaction charges for delivery-based equity selling are Rs 10 per transaction, plus depository charges.

Fyers Account Opening Charges

The charges for opening a Fyers account are Rs 0 when completed online. Additionally, the Annual Maintenance Charge (AMC) for the Demat account is Rs 0, applicable for a lifetime.

Fyers Trading Software

Fyers has designed a comprehensive trading platform, encompassing both the front-end and back-end components, including a risk management engine and order management system. The platform is continually evolving, with numerous new features being introduced on a monthly basis.

Fyers trading platform major applications:

1. Fyers App

Developed for traders and investors who prefer to trade using their mobile devices, the Fyers App is a sophisticated mobile trading application offering a wide range of features. The app is compatible with both Android and iOS devices. Key features of the Fyers trading app include multiple watchlists, a stock screener, pre-loaded options strategies, technical indicators, and real-time stock quotes. Additionally, customers can transfer funds to and from Fyers directly through this mobile app.

2. Fyers Web

Designed for investors and traders who are comfortable with web-based trading, Fyers Web is a fully functional online trading application. Fyers Web can be accessed from any web browser. The features of this application include a portfolio tracker, auto-screened option strategies, and a live data feed.

3. Fyers One (Trading Terminal)

Built for professional traders, the Fyers installable trading terminal is equipped with industry-standard features, including advanced charting, flexible workspaces, F&O analysis tools, stock screeners, advanced end-of-day reporting, and a portfolio tracker.

4. Fyers Next

Fyers Next is a desktop terminal for trading, offering a 360-degree analysis of stocks with a snap ratio, market depth, and more. Fyers Next provides a fast and accelerated trading experience.

Below are the key features of Fyers Next Trading Terminal:

• Real-time widgets.
• Trade and execute orders as soon as the market opens.
• Convert large trade data to Excel format instantly and in real time.
• Option strategies with accurate theoretical prices and implied volatility calculations.
• Real-time 360-degree quotes for each instrument.
• A dedicated order book to look up and study your GTT orders.
• Margin requirements for futures and options positions.
• Price Ladder provides a visual representation of the order book to gain insight into market depth.

5. Tradingview integration

The platform includes a powerful charting and analysis feature, historical data for testing different strategies, creating and sharing your indicators and strategies, and trading with 15 highly interactive chart types, 100 indicators, and 50 drawing tools.

6. OFS, SGB and Debt Markets

The platforms for safe investment in Sovereign Gold Bonds, Offer for Sale, and Bonds.

7. FYERS Community

The community is a platform to interact with thousands of active traders and investors to learn and share your knowledge on the company's buzzing forum. Be an active member of the community and earn reward points when you answer others' queries.

8. School of Stocks

This platform app is a comprehensive and user-friendly School of Stocks app, allowing you to discuss individual lessons with the community, ask questions, take quizzes, and resolve your questions on the go.

Fyers Pros and Cons

Fyers Pros (Advantages)

The following are the benefits of Fyers. It is essential to review Fyers advantages and disadvantages before creating an account with Fyers. Fyers pros and cons enable you to determine if it meets your investment requirements.

1. Online account opening is available at no cost.
2. No brokerage fees are charged for cash and carry trades.
3. As a discount stock broker, Fyers offers extremely low brokerage rates, with a maximum flat fee of Rs 20 per trade across all trading segments, regardless of trade size.
4. There are no additional fees, and the fee structure is highly transparent.
5. The in-house trading platform allows for rapid implementation of new features and services.
6. All trading software is provided at no extra charge.
7. A single margin account is available for use.
8. You can refer friends and earn 20% of the revenue generated by your referrals, for life.
9. A demat account can be opened without a Power of Attorney (POA).

Fyers Cons (Disadvantages)

The following are the drawbacks of Fyers. Review the list of Fyers limitations.

1. Exchange transaction charges are higher than those of other discount brokers.

Fyers Margin Exposure

Fyers offers margin funding for intraday trading of up to 20% of the trade value, with a maximum leverage of 5x based on the specific stock. The Fyers F&O intraday trading margin is set at 1.3x across trading in Equity, Currency, and Commodity segments on the BSE, NSE, and MCX exchanges. No additional margin is provided for Fyers F&O positions that are carried forward or for equity delivery trades.

Fyers Ratings

Based on evaluations from Fyers clients.

Fyers Complaints

The volume of Fyers customer grievances submitted to the exchanges is a key metric. The Fyers consumer complaint report provides valuable insights into the Fyers service quality and dependability.

*The number of active customers reported by the broker.

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

Frequently Asked Questions

1. How to open Fyers account online?

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

Steps to open Fyers account:

• Visit the Fyers website.
• Click on the Open An Account tab on the home page.
• Enter mobile number, email and name, then 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 or 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.
• 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, or Networth certificate.
• Bank Account Proof: Cancelled cheque leaf, passbook or bank statement with IFSC or MICR code.

2. What does Fyers 30 day challenge?

Fyers 30 day challenge is a reward program intended to keep traders focused on profitability. As 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 the 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.