In this FYERS Securities review, I will talk about their background, brokerage charges, trading platforms and any other charges associated with the account.
About FYERS Securities:
FYERS is the acronym chosen by its founders which stands for Focus Your Energy & Reform Self. They entered the discount broking industry lately compared to Zerodha and Upstox.
They are based out of Bangalore and founded in year 2015. The company is headed by team of young people and has start up like environment.
They are the member of NSE and MCX and offer service in following segments;
- Mutual Funds
FYERS Brokerage Charges:
FYERS brokerage charge structure is simple and almost similar to Zerodha. They charge flat Rs 20 per every executed order.
When the company was started, they used to charge Rs 100/ executed order. But they changed the brokerage structure in between.
|Equity Delivery||Rs 20 per Executed Order|
|Equity Intraday||Rs 20 per Executed Order|
|Equity Futures||Rs 20 per Executed Order|
|Equity Options||Rs 20 per Executed Order|
|Currency Futures||Rs 20 per Executed Order|
|Currency Options||Rs 20 per Executed Order|
Account Opening Charges:
- Trading Account opening charges: Zero
- Demat Account opening charges: Zero
- Trading Account Annual Maintenance charges: Zero
- Demat Account Annual Maintenance charges: Rs 400
FYERS Trading Platforms:
Trading platforms is USP of FYERS and they offer lot of features in their platform.
This is a installable software and you need to download from their website and install in your laptop/desktop.
It is particularly helpful for traders and also investors. For investors, it has lot of fundamental parameters.
Some of the other salient features of this platform are;
- “Heat Map” to understand who is gaining and who is losing in the market
- Get a 360 degree view of the world market within few clicks
- Stock screeners – which helps in tracking , filter and research the stocks
- Some of the advanced charting features such as, upto 30 days of intraday and upto 5 years of EOD data.
- More than 60 indicators and technical studies
It is mobile trading app from the broker. It uses minimum internet bandwidth and not resource heavy.
It is available for both Android and iOS versions.
Some of the salient features are;
- Stock screener to find and track the trading opportunities across the markets
- Minimal interface with less clutter and maximum information
- Fund transfer with more than 25 banks is possible within mobile app
- Access to multiple options strategies is provided.
FYERS Web Trader:
As name suggests, it is browser based trading application. So you can trade the markets using this without installing anything and from anywhere.
It comes with minimal features and less clutter to avoid confusion.
Some of the other features are;
- Innovative equity SIP calculator
- Some of the options strategies are in built and can be screened within the application
- Portfolio information and tracking.
FYERS Contact Details:
No 19 & 20, 3rd Main,
FYERS Pros and Cons:
Disadvantages of FYERS:
- Company is new and hence not established yet
- It is not a 3-in-1 Demat Account
- No support for commodity segment
- Customer service lines are not toll free
- Investment in bonds and Insurance is not possible
Advantages of FYERS:
- Excellent trading platforms with advanced features
- Automated trading is possible
- Pricing structure is reasonable and competitive
FYERS Review – Conclusion:
FYERS is one of the very few stock brokers who have emphasized on trading platforms. It can be easily seen that, they have put lot of efforts on developing the competitive trading software and that have been their USP.
They are still in growing stage and it should be seen how they keep up the customer service as they grow.