Fyers: Trading & Demat Account, Reviews, Charges: 2024
Fyers Securities is a team of young, enthusiastic business people with over 10 years of trading and security industry experience. They are also associated with IL&FS Securities Services Limited for their demat account services and mutual fund services.
One interesting fact about this stock broker is that it pioneered a new method in investing stock called ‘Themed Investment’ providing the ability to invest in similar category of stocks. The closest similar practice would be with Exchange Traded Funds (ETFs). However, Thematic Investment offers more flexibility than ETFs, because the companies to invest in a particular theme are identified by the broker, even the community sometimes.
Fyers : Overview
Based out of Bangalore, Karnataka, Fyers was launched in 2015, and in this limited time period, it has become one of the popular discount brokers in India. Found by Tejas Khoday, Shreyas Khodey & Yashas Khodey, FYERS is basically an acronym for ‘Focus Your Energy & Reform the Self’. The firm is a registered member of NSE, BSE, and MCX.
Fyers also introduced a ‘Fyers 30 Day Challenge’ product, in which, if a trader stands in green at the end of 30 days period, then the trader would get entire brokerage paid during that time refunded back, 100%. During inception, the challenge was limited to BSE and NSE but subsequently, in January 2020, the firm has also included incorporated MCX. Along with that, Fyers also has a referral program in which you can earn 20% of the brokerage generated to the firm, by the clients referred by you.
Fyers was basically created with the idea to change the way India trades, after bad experiences in this segment by the founders. In the past few years, Fyers has developed an active community of traders/investors who are willing for change in the capital markets. Fyers has a team of 100 employees, with 50,000+ customers trading seamlessly.
Fyers: Trading Platforms
Fyers probably has one of the most advanced trading platforms, built in house. Its platforms serve technical and fundamental investors alike, along with catering to traders with add-ons like algo-based trading with no additional fee.
1. Fyers One:
Fyers One is a downloadable trading software providing advanced features like stock screeners, intraday scanners, support & resistance filters, etc. This software is for computer platform and is for frequent traders and advanced users.
2. Fyers Web Trader:
This the web based platform, for investors and non-frequent traders. The platform has advanced charts along with 70+ indicators and 300+ interactive icons.
- Fyers Markets:
This is the smartphone application of Fyers securities, having up to 25 scrips in the watch list, for traders who want to trade on the go.
Fyers Account Opening Process
The account opening process is quite simple and similar to other discount brokers in India. You must have your PAN card copy, AADHAR card copy, income proofs, etc. handy while opening a demat and trading account.
Fyers: Types of Accounts
Like the account opening process, Fyers keeps it simple in the type of accounts it offers to its clients:
1. Fyers Trading and Demat Account: This is a 2-in-1 kind of account offering, with an option to trade in equity cash, intraday, derivatives, and FOREX trading. However, the Demat for dematerialised securities is offered by IF&LS.
2. Fyers Commodity Account: As the name
Fyers Account Opening Charges: 2024
| Charge | Amount |
|---|---|
| Demat Account Opening Charges | ₹0 |
| Trading Acc Opening Charges | ₹400 |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹300 |
Fyers Account Brokerage Charges: 2024
Fyers :Flat Fee Plan Brokerage Charges
| Charge | Amount |
|---|---|
| Plan Name | Flat Fee Plan |
| Equity Delivery | ₹0 |
| Equity Intraday | ₹20 per executed order or 0.03% whichever is less |
| Equity Futures | ₹20 per executed order or 0.03% whichever is less |
| Equity Options | ₹20 per executed order |
| Currency Futures | ₹20 per executed order or 0.03% whichever is less |
| Currency Options | ₹20 per executed order |
| Commodity Options | Futures: ₹20 per executed order or 0.03% whichever is less, Options: ₹20 per executed order |
| Mutual Fund |
Fyers Currency Trading
Fyers is among the few brokers in India to provide Cross Currency trading, because this was not possible until recently due to regulations. So now, traders who want to participate in popular trades pairs like EUR-USD or USD-JPY can do so without opening an account with a shady companies not
Fyers Commodity Trading
Fyers is the only broker in India, currently, to provide MCX trading on TradingView charts, available on all platforms. On MCX, you can place Intraday, Margin and Cover Orders. However, leverage provided on cover orders is higher than the Intraday orders. Also, Fyer’s risk management team squares off intraday trades