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Fyers Securities Review 2022

Rated 4 stars Rated 4/5 by Top Share Brokers Team
Last updated on: 2-Apr-2022
Fyers Securities Review

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Open Fyers account online and enjoy Free Equity Delivery, Flat ₹20/trade for F&O, and Intra-day. Avail special offer with us and Get Your AMC Waived Off Forever!
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Fyers Review 2022 - Quick Summary

One of the lowest discount brokerages offering free delivery trading, zero brokerage direct mutual fund investment, and trade at flat Rs. 20/order in other segments.

Rated 4 stars

Fyers Top Highlight for 2022

  • Trade-in equity, futures & options, commodity, and currency.
  • Free equity delivery trading and a maximum of Rs. 20 per order in other segments.
  • Open free Fyers demat and trading account and 1st quarter Demat AMC is zero.
  • 100% online account opening process without a POA.
  • Free direct mutual fund investment at zero brokerage.
  • Open Fyers single margin account to trade across segments.
  • Best trading platforms; Fyers Mobile App, Fyers One, and Fyers web.
  • Free Fyers Thematic investing (Investing in ideas).
  • Get 100% brokerage refund under Fyers 30 Day challenge.
  • Advanced orders like bracket order and cover order.
  • Free Fyers API to create your trading platform.
  • Online Fyers brokerage and Fyers margin calculator.

About Fyers

Incorporated in 2015, Fyers Securities acronym for Focus Your Energy & Reform the Self is one of the cheapest discount brokers in India. The Bangalore-based online discount broker is a member of BSE, NSE, and MCX offers online trading & investment in equity, futures & options, commodity, and currency segments. Fyers is a Depository participant with CDSL and facilitates a Free demat and trading account opening facility.

In terms of brokerage, Fyers offers free equity delivery trading and charges flat Rs. 20 per order across all segments. It further allows Free direct mutual funds investment at zero brokerage through Fyers Direct Platform. It also has an innovative product called “Fyers Thematic Investing” which is a bunch of several stocks of a particular theme or investing idea. Thematic investing with Fyers is completely free. The technology-focused discount brokerage firm offers all kinds of possible trading platforms such as Fyers mobile app, Fyers One trading software, and Fyers Web trading platform.

It also has a Fyers 30 Day Challenge reward program, wherein if you are in a profitable position at the end of 30 days period, then you will get a 100% brokerage refund during the particular period. The reward program is active for trading in stocks as well as commodity trading. Furthermore, refer & earn, call and trade, online customer support, access across its trading platforms are the value-added services available with Fyers. On this page, we are providing you a complete Fyers Securities review including brokerage charges, account opening fee, margins, trading platforms, and more.

Fyers Promotion Offer

Get FREE Equity Delivery Trading and trade at Flat Rs 20 per order in other segments.

Advance trading platform and Mobile App.

Lifetime Free Demat AMC

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Fyers Brokerage Plan with closest competitors

Here we are comparing Fyers with its 5 close competitors, who are currently market leader in brokerage industry.

Broker Fyers 5paisa Zerodha Upstox Paytm Money
Service Type Discount Broker Discount Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 20 Rs 20 Rs 20 Rs 20 Rs 10
Account Type 2 in 1 2 in 1 3 in 1 3 in 1 2 in 1
Equity Delivery Free Flat Fee Rs 20 Free 2.5% or Rs 20 whichever is lower Free
Equity Intraday 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.05% or Rs 10 whichever is lower
Equity Futures 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 10 whichever is lower
Equity Options Flat Rs 20 per order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 10
Commodity 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 NA
Currency Futures 0.03% or Rs 20 whichever is lower Flat Fee Rs 20 0.03% or Rs 20 whichever is lower 0.05% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Currency Options Flat Rs 20 per order Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 20 Flat Fee Rs 10
Rated 4 stars
Rated 4 stars Rated 4.5 stars Rated 4.5 stars Rated 4 stars

Other Charges

  • Call & Trade Charges: Rs 20 Per Order
  • RMS Auto Square Off Charges: Rs 20 Per Order
  • Hidden Charges: No

For complete brokerage charges and trading plans detail please visit Fyers Brokerage Charges.

Please refer unique and accurate Fyers Brokerage Calculator

How to open Fyers Securities Account online?

Residents can open a 2-in-1 account (Demat and trading account) with Fyers to trade across all segments; however, the discount brokerage firm doesn’t facilitate NRI trading services.

    Fyers Trading Account

      Opening a trading account with Fyers enables customers to trade or invest in multiple segments like equity, ETF, derivatives, commodity, and currency segment. The broker offers Free Fyers Trading Account at zero fees and its trading AMC charge is zero. Earlier, it was offering separate equity and commodity margin trading accounts, but now, you can open a Fyers Single Margin account to trade in equity and commodity as well.

    Fyers Demat Account

      In Oct 2019, Fyers got a CDSL DP license and started offering Fyers Demat Account opening services. Anyone who wants to trade with Fyers must open a trading cum demat account to secure all the securities purchased through a trading account in the demat account. People can open a free demat account with Fyers at zero account opening charges. Further, from 1st Dec 2020, its 1st year demat AMC charges will be nil, thus the chargeable fee for 1st year would be Rs. 225+ GST whereas from 2nd year onwards, Fyers demat AMC charge will be Rs. 300 + GST.

      Note: Any client who has IL&FS demat account with Fyers, the services will be stopped with effect from 16th January 2021.

    Fyers Mutual Fund Account

      One can open a Free Fyers mutual fund account and start investing in direct mutual funds from 49+ AMCs. Fyers Direct is a platform for online mutual fund investment at zero brokerage charges or subscription fees.

Fyers Special Offer

Avail special offer with us and Get Your AMC Waived Off Forever + Free Account.
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Alternatives to Fyers

 Demat Account
 Demat Account
 Demat Account
 Demat Account

Fyers Mobile App and Trading Platforms

Rated 4 stars Trading Platforms Rated 4/5

The technology-focused discount broker offers an in-house built trading platform including a web trading platform, Fyers mobile app, and Fyers one desktop trading software. Its trading platforms Fyers App and Fyers web are synced with each other and you can access both the platform at a single time.

Fyers Mobile App [Android and iOS App]

    Fyers has come with an all-in-one new, fast, and seamless mobile trading app in its brand name “Fyers App”. The mobile app comes with a host of innovative features like paperless account opening, awesome charting feature, long-term historical data, 65+ technical indicators, intuitive user interface, multiple customizable watchlists, and many more. Fyers mobile app can be downloaded on Android and iOS devices.

Fyers Markets [Old Mobile App]

    Fyers Markets is an ultra low bandwidth mobile app that comes with multiple features such as stock screeners, Heat Maps, real-time market feed, multiple watchlists, advanced technical indicators, 20+ years of EOD charts, 9+ months of intraday data, instant fund transfer, and others. Fyers Markets is an installable mobile app on the Google Play Store and the App Store.

Fyers One [Desktop trading software]

    Fyers One is one of the best trading platforms in India and offers cutting-edge technology benefits to frequent traders. Powerful charting with 10+ years of historical data, 60+ technical indicators, inbuilt technical screener, FnO analysis, world market data, and access to real-time exchange announcement are the key characteristics or benefits of Fyers One installable trading terminal.

Fyers Web [Web-Trading Platform]

    Fyers web is a NextGen web trading platform that is accessible across many platforms such as desktop, laptop, mobile, and tablets. Advanced charting with 70+ indicators, various technical drawing tools, 20+ years of historical data, price ladder trading, Trade from the chart, and multiple chart settings are the key features of Fyers Web platform.

Fyers API

    Fyers offers Trading APIs that allows its customers to build their own customized trading applications in integration with its trading platform. It is especially designed for algorithmic traders or platforms to expand their trading ecosystem.

Fyers GoCharting

    Fyers has a collaboration with GoCharting which is an advanced order flow charting and trading app for multiple asset classes like Stocks, Futures, Options, Commodities, Forex and Cryptocurrencies.

    GoCharting also has an advanced options trading platform for web and mobile users named Options Desk. It supports traditional Options markets such as NSE, NYSE, NASDAQ, etc. as well as all crypto options markets such as Deribit and Binance. Options Desk features advanced Options Chain, Orderflow and Technical Analysis, Strategy Building, and Backtesting with PayOff charts. It comes with 40+ built-in Option Strategies, 120+ Technical Indicators, 100+ Drawing Tools, 12+ Chart Types and many more.

For detail review of mobile app and download please visit Fyers Trading Platform Review.

Fyers Trading Cons

  • You can’t open a 3-in-1 account (Demat + trading + bank account) with Fyers.
  • NRI trading is not available at Fyers.

Fyers Customer Care info

Final thought about Fyers

Rated 4 stars Rated 4/5 by 20 users

Fyers is one of the cheapest discount brokers offering free delivery trading and low brokerage of Rs. 20 per order across all segments. Thus, people who are looking for the lowest brokerage charges must open Fyers account. The brokerage house is providing the best in-house trading platforms like Fyers One, Fyers Web, and Fyers App. Fyers customer care and online support are up to the mark and of industry standard. Further, mutual fund investors can undertake free direct mutual fund investment through Fyers Direct Platform.

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Last updated on: 2022-04-02

Fyers FAQs

You can add a secondary bank account at Fyers by filling out a secondary Bank Account Addition Form. After signing it, scanned copy of the form along with any bank proof among scanned copy of the cancelled cheque, self-attested latest 1-month bank statement or latest passbook statement need to be mailed to [email protected] Then, you will receive a unique ticket number on your respective mail through which you can track the progress online.

Download Change Bank Detail Form


Fyers Back Office provides users access to the contract notes, trade details, contract notes, and other information. If you have opened an account with Fyers then you can login to the back office through Fyers Web.

Steps to Login Fyers Back Office

  • Go to Fyers website
  • Tap on the "Sign In" option and click on the 'Account' tab.
  • Enter client ID, password, and PAN number and press "Submit" option.
  • Now, you have successfully logged into your Fyers account, on the top, Click on the "Accounts" to access Fyers back office.


Yes, Fyers offers cross currency trading facilities.


Yes, both the trading platforms Fyers App and Fyers Web are synchronized to each other henceforth, any order placed through Fyers mobile app will be shown on the Fyers Web platform or vice-versa.


In Nov 2020, Fyers Securities has introduced Fyers Single Margin Account, as the name itself, it is a one single account to trade across segments including equity, futures & options, and commodity segments with a single limit. Earlier, margins for the equity and commodity account were separate but now, single margin account allows single limit for trading in all segments.


Clients can add or transfer money to his Fyers Trading Account using following ways:

  1. Zero cost UPI-based fund transfer process.
  2. Add funds to your trading account through net-banking.
  3. NEFT/RTGS based fund transfer process.


Likewise many brokers such as Zerodha, Paytm Money, etc. Fyers Securities facilitates UPI-based fund transfer process at zero charges through Fyers mobile app and Fyers web platform. To transfer funds through UPI, make sure your UPI ID is mapped with the linked bank account.

Steps to add funds to Fyers Trading Account through UPI:

  • Log in to your account on Fyers Market app and Fyers web.
  • Tap on the “Fund Transfer” option.
  • Click on the “Add Funds” option and select “UPI” payment mode.
  • Now, enter the amount, UPI ID and click on the “Continue” option.
  • Accept the fund collection or fund transfer request sent to the UPI App.
  • Once accepted, a confirmation message of “Fund Transfer Payment done successfully” will be shown to you.


Customers can withdraw funds from their Fyers Trading account across all the trading platforms like Fyers Web, Fyers Markets, and Fyers One platform.

Steps to withdraw funds from Fyers Trading Account

  • Login to your Fyers Trading Account.
  • Click on the “Fund Transfer” Menu and press on “Pay-out” option.
  • Enter the amount, you want to withdraw.
  • Finally, press the “submit” button to place the fund withdrawal request.


Fyers Securities Ltd offers online trading and investment in equity, futures & options, commodity, currency, and direct mutual funds. Here are the steps to start online trading with Fyers:

  • Open Fyers demat and trading account through Fyers app or Fyers Web.
  • Login to your trading account on any of the Fyers trading platform.
  • Add your favorite stocks to the watchlist and start placing online orders as per your wish.


Fyers Margin orders, as the name itself, are the orders placed through using margin facility offered by the broker. The discount brokerage firm offers margin facility on equity intraday and futures & options (F&O) trading. The margin order provides the freedom to customers to get rid-off the requirement of paying full amount as they can pay a small percentage and rest amount will be paid by the broker, that customers have to repay later.


Beginner-level traders look for the lowest trading charges therefore, Fyers is the best broker for beginners who provides cheapest brokerage model. The discount offers free delivery trading and trading at flat Rs. 20 per order brokerage across segments. Further, it offers fast, seamless, and easy to use online trading platforms like Fyers Markets, Fyers App, Fyers One, and Fyers Web. Apart from this, mutual fund investors can undertake free direct mutual fund investment on the Fyers Direct platform.


You can convert intraday open positions to CNC means delivery trading in Fyers. Here is the process to convert intraday to CNC through Fyers:

  1. Login to your Fyers account.
  2. Click on the "Positions" tab.
  3. Now, click on the "convert" option respective to the trade that you want to convert to delivery.
  4. A pop-up will appear to convert your positions, submit the order.
  5. Now, you have successfully converted your positions to delivery.


Fyers facilitates bracket order placement on all of its trading platforms like Fyers Web, Fyers One, and Fyers Markets. Here are the steps to place bracket order on Fyers:

  1. Login to the Fyers App.
  2. Add the scrip to the Fyers watchlist.
  3. Go to the order entry window.
  4. Select the “BO” (Bracket Order) option under the product type and mention stop Loss and target price.
  5. Now, press the “Submit” option to successfully place the bracket order on Fyers.


Fyers being a discount broker does not offer its own research services, but in July 2020, the broker made a tie-up with MarketSmith India - globally recognized research company to provide high quality research reports to investors. MarketSmith India is a one-stop-shop to get stock recommendations, stock fundamental and technical research reports, proprietary ratings and rankings, and others.


Fyers through collaboration with MarketSmith India, a research company offers research report to customers. The organization, MraketSmith India with 60+ years of existence in the market offers various types of research reports such as Special reports, Pre-Market Commentaries, Daily and Weekly Big Picture, learning articles, and Model Book (Top Stocks Book).


No, Fyers doesn’t offer free MarketSmith India research reports. Fyers customers can subscribe to the research reports by paying a chargeable subscription fee of Rs. 5000 + GST for year or Rs. 2,000 + GST for quarterly plan.


No, Fyers as a discount broker offers only one plan - The flat Rs 20 plan. The company doesn’t offer any other plan like an unlimited trading plan to fix the monthly plan.

For an unlimited trading plan – Please contact Prostocks which offers a Rs 899 trading plan for Equity Segment.


For traders and investors Fyers offer all 3 trading platforms – Mobile App, Web and Downloadable EXE. Fyers App, FYERS Web and FYERS One (Fyers Terminal) are the in-house developed trading platform by Fyers.

FYERS Direct is online mutual fund investment platform for direct mutual fund investing.

Fyers still offers a desktop platform where Zerodha and Upstox has phased out the desktop platform. Fyers offers all its platform Free of cost for its clients.

Fyers Instant Account


Square off is the end of the day process where RMS team closes all open Intraday positions. Generally this process starts from 3:15 PM (15 minute before market close).

Traders can close their Intraday position before 3:15 pm. After that Fyers RMS team will close the position and charge Rs 50 + GST. To avoid such scenario, one need to close all Intraday positions before 3:15 pm.

Position closed by RMS team is usually considered as Call and Trade. A broker charges same fee, which is Rs 50 + GST per order.

Fyers Instant Account


For online brokers, customer support is the most important part. Fyers has kept all its support options open for customer. Clients can reach support team via email, phone or use online support portal for quick query resolution.

Best way to find answers of your queries are Fyers Support Portal. They have classified support under different categories with a detail article on each topic. In case you need second level support then Fyers Support Email is the second best choice. The last option is Fyers Phone support, available on working days between 9 to 11:55 pm and Saturday till 5 pm.


Yes, Fyers give you a facility to close your account online. Usually, no broker wants to let go of their customer. But when you made up your mind to exit the broker, Fyers has given you the option to submit an online application to close your account.

    Steps to close your account online with Fyers:
  • Visit My Account Portal
  • Go to the account details section
  • Click on Close Account
  • Upload your signature and validate OTP
  • After your request, Fyers team will take up to 7 days to close your account and confirm with you over email

After Zerodha, Fyers is the second broker who is taking account closure requests online.

Zerodha-New Account


For Traders and Investors, Fyers is offering a full range of Order Types. Market, Limit, Stop Loss Market, Stop Loss Limit, After Market Order (AMO), Cover Order, Bracket Orders.

Due to some limitations, CO and BO are not available for all product types.

Missing Order Type: With close competitors Zerodha and Upstox, Fyers is missing GTD or GTC Order type. This is a must requirement for Investors.

One more thing that all discount brokers are missing is Equity SIP. Similar to Mutual Funds SIP, Equity SIP is also a required feature for investors.

Fyers Instant Account


Fyers current focus is the domestic market and not opening demat and trading account for NRI/NRO clients. Prostocks, one of the fastest-growing discount broker has a dedicated team to help NRI/NRO demat and trading accounts.


Fyers Direct is the same as Zerodha Coin, where Mutual Fund Investors can buy commission-free direct mutual funds online or start SIP with direct mutual funds.

No need to pay any hidden charges or commissions to the broker for your Mutual Funds investment.

Fyers Instant Account


Fyers allow user to apply in IPO online with the UPI based transaction. As per current limit of UPI, users can apply up to Rs 2 lacks application with a FYERS IPO Application.

For FYERS user, Appling in IPO is now very simple and hassle free process. You need to select the IPO, number of shares, price on which you wish to apply IPO and UPI ID. After that you need to approve UPI mandate to block your bid amount.

The biggest advantage of FYERS Online IPO Application process is, you can apply in IPO any time of the day. For users process is open 24x7 between IPO open and close window. Fyers internal application will take care the application submission process.

Fyers Instant Account


Fyers Securities User Reviews

23. Jasveer Mar 28 2022 05:16:52 AM Reply
This is Fraud. they sold my share in same days i purchased without my permission and created loss to me. guys please do not use this worse platform


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
22. a Jun 29 2021 08:17:10 PM Reply
Its better than Zerodha, but certainly lacks many important things in an trading platform similar to Tradestation or MetaTrader4 or MetaTrader5.
Execution speed far less than MT4/MT5.


Brokerage - Excellent
Account Maintenance Fees - Above Average
Website Usability - Below Average
Customer Service - Average
Overall Experience - Average
21. Raj Nov 09 2020 11:04:22 PM Reply
I have opened account with fyers in Oct 2020 and within 1 month i had to close my account with bad experience i got. When u call customer service, some times it's never connect even it's connect it disconnects intermediately. Margins also very low compare to any other brokerages and they will not give CO/BO on options where all brokers provide same.
They boast trading view charts can be accessed with fyers, But i don't see significance as now a days most of brokers provide trading view charts.


Brokerage - Average
Account Maintenance Fees - Average
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor
20. Subrahmanyam Yenamandra Sep 08 2020 02:00:40 AM Reply
Fyers levy hidden charges when they trade with them. They loot at least 20 to 30 rupees for a Cash trade of about 1.5 Lakhs using Bracket Order. Their brokerage calculator shows the taxes and brokerage values very similar to Zerodha''s calculator. But, they say that when bracket orders get executed in multiple trenches they charge extra. It is simply cheating, because Zerodha doesn''t do that. They will charge anything extra than what they show in their Brokerage calculator.


Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Above Average
Customer Service - Below Average
Overall Experience - Below Average
19. VINEETH VIJAYAN Jul 03 2020 05:44:44 AM Reply
better desktop platform


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
18. Ganesh Jun 01 2020 09:12:25 PM Reply
Best Platform for Traders....Pro Platforms..
17. Trupti Behura Feb 18 2020 04:02:59 AM Reply
Overall experience with fyers is excellent. User-friendly software.


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
16. Pradip Dec 03 2019 06:12:53 AM Reply
Mast app


Brokerage - Excellent
Account Maintenance Fees - Above Average
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
15. manish kadam Sep 13 2019 03:09:56 PM Reply
Best broker with 99% uptime. Not like zerodha, down all the time.


Brokerage - Excellent
Account Maintenance Fees - Excellent
Website Usability - Excellent
Customer Service - Excellent
Overall Experience - Excellent
14. Sathishkumar Apr 25 2019 09:31:04 AM Reply
Here in available tamil language talk borker