Fyers Brokers Review

Fyers is an online discount stock broker based in Bangalore. Fyers was consolidated in 2015 and is a low stockbroker firm, that is, it is one of the cheapest online stock brokers in India. Fyers promotes Thematic investing, meaning investing in ideas, that is, an investment made in a group of stocks and not in individuals. Fyers has organized 100s of portfolios based on themes from which customers can choose and invest Thematic Investing has features such as:
  • Themes are free of cost for fyers’s customers.
  • Provides more than 100 themes.
  • Each theme constitutes less than 20 stocks.
  • Overall 1500 stocks included.

Overall Summary

LIKES

  • No brokerage is charged by fyers on cash and carry trades and hence provides free equity delivery trading.
  • Trading softwares are free of cost.
  • Mobile app available for Android and iOS devices as well.
  • Trading platforms are flexible and can adapt to changes quickly.

DISLIKES

  • Commodity trading is not available.
  • Fyers does not offer toll-free customer service.
COMMISSIONS AND FEES

FYERS ACCOUNT OPENING CHARGES

Online trading account opening feeRs 0
Trading Account Annual Maintenance Charge Rs 0
Online demat account opening feeRs 0
Demat account annual maintenance chargeRs 400

FYERS BROKERAGE CHARGES

SEGMENTSBROKERAGE FEE
Equity DeliveryNo brokerage charged
Equity IntradayRs 20/executive order
Equity FuturesRs 20/executive order
Equity OptionsRs 20/executive order
Currency FuturesRs 20/executive order
Currency OptionsRs 20/executive order

FYERS TRANSACTION CHARGES

SEGMENTSTRANSACTION FEE
Equity DeliveryRs 325/crore (0.00325%)
Equity IntradayRs 325/crore (0.00325%)
Equity Futures Rs 240/crore (0.0024%)
Equity OptionsRs 5900/crore (0.059%)(on premium)
Currency FuturesRs 240/crore (0.0024%)
Currency OptionsRs 5900/crore (0.059%)(on premium)
CommodityNA

LEVERAGE GIVEN BY FYERS

  1. Intraday Trading- In equity intraday segment, fyers provides up to 16 times leverage. No leverage is given on delivery trades.
  2. Futures (Index or stocks)-
  • Equity and Index futures- 4x of Normal Margin
  • Currency Futures- 2x of Normal Margin
  1. Options- 4x of Normal Margin

RESEARCH

FYERS- Focus your energy and reform the self.

Fyers is an online discount stock broker based in Bangalore. Fyers was consolidated in 2015 and is a low stockbroker firm, that is, it is one of the cheapest online stock brokers in India.

Through Fyers’s services, one can invest in the following:

  • Equity
  • Currency
  • Mutual funds
  • Derivatives
  • IPO

Fyers promotes Thematic investing, meaning investing in ideas, that is, an investment made in a group of stocks and not in individuals. Fyers has organized 100s of portfolios based on themes from which customers can choose and invest

Thematic Investing has features such as:

  • Themes are free of cost for fyers’s customers.
  • Provides more than 100 themes.
  • Each theme constitutes less than 20 stocks.
  • Overall 1500 stocks included.

Platforms & Tools

FYERS TRADING PLATFORM

Fyers has developed its own trading platforms and this trading platform has 3 applications-

Fyers One (Trading Terminal)

The trading terminal has been inculcated by standard features such as flexible workspaces, F&O analysis tools, advanced charting, portfolio tracker etc. This trading platform adheres to high performance, speed, and amusing features. This can be downloaded and installed on desktop or laptops. Fyers One provides different charts, display and number features that help users to perform technical and fundamental analysis. These features are exclusive and not been observed in any other trading platforms.

FEATURES

Charting available with more than 60 indicators for technical analysis. These charts can be used for spot indices. Charts are provided in the following time frames:

  • 1 minute
  • 5 minute
  • 10 minute
  • 15 minute
  • 30 minute
  • 60 minute
  • Custom time framesThe platform displays historical data of the last 5 years and also intraday data for the last 30 days.
  • Users can add up to 10 market watch lists across different segments, industry, etc.
  • Constant market information available on the news, world market, IPO performance and more.
  • A feature called Stock Screeners will help you find specific information from a bunch of market information.
  • Trading signals are given so that users can make desired investment decisions.

DISADVANTAGES

  • Mac iOS version not available hence cannot be used by apple desktop users.
  • Newly introduced in the market when compared to other prominent brokers’ platforms, hence not fully trusted.
  • Heavy size

ADVANTAGES

  • Shows more authentic and accurate data when compared to other stockbrokers in India.
  • Considered one of the best softwares to carry on technical analysis.
  • Crash reports are minimum.
  • Provides intraday recovery feature that enables users to acquire insights into the performance of stocks.

Fyers Market- Mobile App

Fyers has launched a mobile trading app for investors or traders who prefer mobile apps for trading and are convenient for them. This mobile app has many amusing features that help traders in trading effectively and quickly. The app is available on Android and iOS devices. The features of this app consist of multiple watch list, stock screener, pre-loaded options strategies, live stock quotes and more. This app also facilitates the transfer of funds to and from fyers.

Upstox pro web is a browser-based application launched by upstox. There is no need to download or install this application and users can get access to trading through this application on any screen such as a laptop, mobile or tablet.

Upstox pro web possesses highly advanced features such as API integration with third-party applications, advanced charts, algo trading and much more that enable users to carry on their analysis and understanding of the market in a proper way, gaining insights into a market in depth.

This also provides an interactive user interface through the use of HTML 5. Also, this application is lightweight and the broker ensures regular updates so that new features and advancements are introduced frequently.

FEATURES

  • After logging in, this app displays the current market situation. Also, provides an option to look at specific indices.
  • Graphical representation of Put/Call ratio, R&S etc. of information within a scrip.
  • Historical EOD charts available for the last 20 years and historical intraday charts available for the last 9 months.
  • Heatmaps are there to help users in performing quick market analysis.
  • Different types of charting functionalities available to enable users to perform technical and fundamental analysis better.
  • There are various technical indicators that can be used by users to undergo advanced analysis and gain deeper insights into specific scrips or indices.

ADVANTAGES

  • Online funds transfer available with 25 banks.
  • Screeners, heatmaps, technical indicators, and many other features make it a reliable option for technical analysis.
  • Rich resources in data feed and scrip information.
  • Provide highly secured layouts and features.

DISADVANTAGES

  • Do not offer historical charting
  • Alerts and notification feature to keep users updates is not present.
  • Guest OTP stops working a few times

UPSTOX PRO MOBILE APP

Upstox provides a mobile-based application through which users can trade and invest in Equity, currency, future and options segment at Bombay National exchange (BSE) and National Stock Exchange (NSE). The mobile app also offers 100 technical indicators, charting flows and some other features desired for users who perform technical analysis in intraday trading. The app is available on both iOS and Android devices.

FYERS WEB TRADER

Fyers web trader is a web-based trading platform for traders who access trading through web browsers. Fyers web trader is available on every web browsers, hence accessible to almost everyone. The features of this platform consist of portfolio tracker, live tracker, and auto-screened option strategies

FEATURES

  • Users are required to put in User ID, Password and either PAN card number or Date of birth on the login screen.
  • Afterward, the screen will display an overview of holdings, news, research, market gainers or losers, information on the stock market and more.
  • Users can look through the status of market indices with the help of the market tab.
  • Online funds transfer can take place. Users can transfer their funds to the trading account from 21 banks.
  • Stock details under market tabs show full details and information about a specific stock and its performance for the trading day.
  • With the ‘What’s new’ option, the user can acquire the latest updates being added to the application.

ADVANTAGES

  • Does not need any download or install.
  • Comprehensive data points to enable users to make quick and efficient decisions.

DISADVANTAGES

  • When compared to other Fyers’s trading platform, this platform does not have as much as features.
  • Basic features tend to be complex.

CUSTOMER SERVICE

Following communication channels are offered by Fyers:

  • Email
  • Phone (9am to 8pm)
  • Webchat
  • Social media
  • Play store

Fyers provide great customer service to its customers. Resolution for the concerned issue is given well on time and turnaround time is quick as well.

OTHER NOTES

HOW TO OPEN AN ACCOUNT

The following documents are required to open an account with fyers:
  • Address proof
  • PAN card
  • Income Proof
  • Photographs
  • Canceled Cheque

There are 5 steps you need to follow to open a trading and demat account:

  • Email or send fyers require documents (mentioned above)
  • Then you will receive a filled account opening form
  • Afterward, you need to sign the form as mentioned in the form.
  • Courier all the documents again to fyers’s address
  • That is all, you will get the login details via email for your trading and demat account.

FINAL THOUGHTS

Fyers has really grown toward one of the best stockbrokers in India real quick. It shares immense goodwill due to its great customer service and trading platforms that constitute high performance. To add, fyers should introduce monthly brokerage packages for its customers. However, fyers remains on one of the top growing and performing stockbrokers in India, proving to be an ideal selection for beginners and small traders.