About FYERS
FYERS Securities Pvt. Ltd. is a Bengaluru-based discount stockbroker founded in 2015 by brothers Tejas Khoday and Yashas Khoday. The company is known for its strong focus on technology, native TradingView integration, and transparent pricing. FYERS operates under SEBI Registration No. INZ000008524 and holds memberships with NSE, BSE, and MCX. It also functions as a Depository Participant with CDSL and NSDL.
FYERS is particularly popular among technical traders due to its native TradingView integration, free API access, and modern desktop terminals.
Why Choose FYERS?
FYERS stands out for traders who value advanced charting and technology. As an official TradingView broker partner, it offers full native TradingView integration — a significant advantage for technical analysts. It also provides competitive capped brokerage, low DP charges, free API, and dedicated NRI support.
With zero account opening charges and lifetime zero AMC, FYERS is a strong choice for chart-driven, algo, and NRI traders.
Key Features of FYERS
- Native full TradingView charting integration across platforms.
- Capped brokerage — max ₹20 per order across most segments.
- Zero brokerage on Direct Mutual Funds and IPOs.
- Zero account opening charges and lifetime zero Demat AMC.
- Free Trading API with strong algo support.
- GTT orders valid up to 1 year.
- Bracket & Cover Orders with trailing stop-loss.
- Tiered MTF interest as low as 12.49% p.a.
- Dedicated NRI portal with PIS & Non-PIS support.
- 30-Day Brokerage Challenge (up to ₹10,000 refund).
Trading Platform Review
Mobile App (FYERS App 2.0)
Modern mobile app with biometric login, basket orders, and TradingView-powered charts. Focused on clean execution and charting.
Web & Desktop Platforms
FYERS Web, FYERS One, and FYERS Next offer full native TradingView integration, multi-chart layouts, Price Ladder, and advanced tools — ideal for serious technical traders.
Brokerage Charges
| Segment | Brokerage (Individual) |
|---|---|
| Equity Delivery | ₹20 or 0.3% (whichever lower) |
| Equity Intraday / Futures | ₹20 or 0.03% (whichever lower) |
| Options | Flat ₹20 per executed order |
| Direct Mutual Funds & IPOs | ₹0 |
Delivery, Intraday, F&O, Currency & Commodity — Explained
FYERS uses one of the simplest pricing logics in the industry: a hard cap of ₹20 per executed order across virtually every segment, with delivery, intraday, futures, and MTF additionally capped by a percentage-of-trade-value alternative (whichever works out lower for the client). This means brokerage scales down automatically for very small trades and never exceeds ₹20 for larger ones. Currency and commodity derivatives follow the identical structure to equity F&O.
DP & Other Transaction Charges
| Charge Type | Amount |
|---|---|
| DP Debit (Sell) | ₹12.5 + GST per scrip (₹3.5 CDSL + ₹9 FYERS + GST) |
| DP Credit (Buy/Receive) | ₹0 |
| Margin Pledge Request | ₹5 + GST |
| Margin Unpledge Request | ₹0 |
| MTF Pledge / Unpledge | ₹12 + GST each |
| Off-Market Transfer | ₹12.5 + GST per scrip |
| Physical Contract Note | ₹20 per note + courier |
Margin Trading Facility (MTF) Review
FYERS offers MTF on eligible stocks with brokerage at the same capped rate as equity delivery (₹20 or 0.3% per order, whichever lower). Interest is tiered and becomes cheaper with higher funded amounts.
| Funded Amount Slab | Interest Rate (p.a.) |
|---|---|
| Up to ₹1,000 | 0% |
| ₹1,000.01 to ₹1,00,000 | 16.49% |
| ₹1,00,000.01 to ₹10,00,000 | 15.49% |
| ₹10,00,000.01 to ₹25,00,000 | 14.49% |
| Above ₹25,00,000 | 12.49% |
Hidden Charges Analysis
FYERS maintains good transparency with a detailed public charges page. However, the following charges are often overlooked by new users:
- DP Charges: ₹12.5 + GST per scrip on sell-side delivery trades.
- Call & Trade: ₹50 + GST per order via support desk.
- Admin Square-Off: ₹50 + GST per order for auto square-off.
- MTF Pledge/Unpledge: ₹12 + GST each (higher than regular pledge).
Services Offered
| Service | Availability |
|---|---|
| Customer Support | Phone (080-6000 1111), Email, Ticketing |
| 3-in-1 Account | Not Available |
| Mutual Funds | Yes — Direct Plans at ₹0 commission |
| IPO Platform | Yes — ₹0 brokerage |
| MTF | Yes — Tiered interest from 12.49% p.a. |
| NRI Services | Yes — Dedicated portal with PIS & Non-PIS |
Is FYERS Safe?
FYERS Securities Pvt. Ltd. is registered with SEBI under registration number INZ000008524, and holds active trading memberships with the NSE (Member Code 90061), BSE (Member Code 6697), and MCX (Member Code 56100). It is also registered as a Depository Participant with CDSL (DP ID 12089400) and NSDL (IN304502), meaning client securities are held electronically in the client's own demat account rather than pooled with the broker's own holdings — a structural safeguard mandated by SEBI for all Indian brokers. FYERS is ISO 27001:2022 certified for information security management. Clients can verify the broker's registration directly via the SEBI Intermediary database, and can escalate unresolved complaints through SEBI SCORES (scores.sebi.gov.in), the exchange investor helpline, or the SEBI-mandated Online Dispute Resolution (ODR) portal at smartodr.in. The company has operated since 2015 with no widely reported major regulatory suspension on record as of this review. As with any broker, client funds and securities benefit from exchange-level Investor Protection Fund coverage, but investors should always read the official Investor Charter documents published on the FYERS website before opening an account.
Pros and Cons of FYERS
Pros
- ✓ Native TradingView charting across FYERS Web, FYERS One, and FYERS Next platforms.
- ✓ Simple, capped brokerage structure — never more than ₹20 per order on any segment.
- ✓ Zero brokerage on Direct Mutual Funds and IPO applications.
- ✓ Zero account opening fee and zero Demat AMC for Individual, Non-Individual, and NRI accounts.
- ✓ Among the lower DP charges in the industry at ₹12.5 + GST per scrip.
- ✓ Tiered MTF interest dropping to 12.49% p.a. for large funded positions.
- ✓ GTT orders available with up to 1-year validity, a feature some peers lack.
- ✓ Free, well-documented trading API supporting third-party algo-trading bridges.
- ✓ Dedicated NRI portal with both PIS and Non-PIS account support.
- ✓ ISO 27001:2022 certified information security; SEBI, NSE, BSE, MCX, CDSL and NSDL registered.
- ✓ 30-Day Brokerage Challenge offering refunds for consistently profitable trading.
Cons
- ✗ Equity delivery is not free — ₹20 or 0.3% per order applies, unlike several peers offering ₹0 delivery brokerage.
- ✗ No 3-in-1 banking + trading + demat account, unlike ICICI Direct or other bank-backed brokers.
- ✗ Active client base (~2.25 lakh) is materially smaller than Zerodha, Groww, or Angel One, meaning a smaller community and fewer third-party tutorials.
- ✗ No WhatsApp callback support channel, unlike some competing discount brokers.
- ✗ Mobile app has fewer built-in fundamental research/screener widgets compared to some competitors.
- ✗ NRI clients cannot trade equity intraday, currency derivatives, or commodity derivatives.
- ✗ Call & Trade and Admin Square-Off charges (₹50 + GST each) can add up for clients who rely on assisted order placement.
- ✗ MTF Pledge/Unpledge charges (₹12 + GST) are marginally higher than the standard margin pledge fee (₹5 + GST), which can confuse new MTF users.
- ✗ No dedicated relationship manager or bundled advisory — purely self-directed, discount-broker model.
- ✗ Candlestick pattern recognition tools and on-chart options Greeks are limited compared to some specialised trading platforms.
FYERS Ratings Breakdown
Capped pricing with good transparency, though delivery is not zero.
Excellent native TradingView integration across web and desktop platforms.
Clean and fast FYERS App 2.0 with good charting support.
Responsive but typical discount broker ticket/phone support.
Tiered interest structure that becomes attractive at higher amounts.
Fully SEBI registered with strong security certifications.
FYERS vs Competitors: Detailed Comparison
FYERS vs Zerodha
| Parameter | FYERS | Zerodha |
|---|---|---|
| Equity Delivery Brokerage | ₹20 or 0.3% (lower) | ₹0 (Free) |
| Intraday / F&O Brokerage | ₹20 or 0.03% (lower) | ₹20 or 0.03% (lower) |
| Demat AMC | ₹0 for life | ₹300 + GST/year |
| Charting | Native TradingView | Proprietary (Kite) |
| DP Charges | ₹12.5 + GST | ₹15.34 (incl. GST) |
Who Should Use FYERS?
- Technical/chart-driven traders who want native TradingView charting without paying separately for a subscription.
- Algo-trading and API users who want a free, well-documented API with multiple third-party bridge integrations.
- NRI investors who want a dedicated, largely-online NRI onboarding process with both PIS and Non-PIS options.
- Traders who actively use MTF and want a tiered interest structure that gets cheaper at higher funded amounts.
- Cost-conscious traders comfortable with a capped, simple ₹20-per-order pricing model.
Who Should Avoid FYERS?
- Investors seeking completely free equity delivery brokerage (Zerodha, Angel One, Dhan offer ₹0).
- Clients who want a 3-in-1 banking + trading + demat account.
- Beginners who want bundled research, advisory, or a dedicated relationship manager.
- NRI clients needing equity intraday, currency, or commodity trading.
- Traders who prioritise the largest user community and ecosystem over advanced charting tools.
Expert Verdict on FYERS
FYERS occupies a clear niche in the Indian discount-broking landscape: it is not trying to be the cheapest broker in the country, nor the largest, but it makes a credible case for being one of the most technically capable. The native TradingView integration across its web, desktop, and to a lesser extent mobile platforms is a genuine differentiator that few Indian brokers can match without forcing users into a separate paid TradingView subscription or a third-party bridge. Combined with a free, actively-used trading API, a tiered MTF structure that rewards larger positions, and one of the more competitive DP charge structures in the market at 12.5 + GST per scrip, FYERS is well suited to traders who treat₹ charting and execution tools as a primary decision factor rather than an afterthought. Where FYERS is less competitive is on headline pricing optics and breadth of bundled services. Equity delivery is not free, which puts it at a perceived disadvantage against Zerodha, Angel One, and several newer entrants that lead with 0 delivery marketing, even though the real-world cost difference on the₹ 20-or-0.3% structure is modest for most retail trade sizes. The absence of a 3-in-1 banking account, a₹ comparatively smaller active client base of roughly 2.25 lakh users, and the lack of WhatsApp-based support are reasonable trade-offs for a technology-focused discount broker, but they do matter for investors who value an all-in-one financial relationship or the reassurance of trading on India's largest platform by user count. On safety and regulatory standing, FYERS checks every required box: SEBI registration, NSE/BSE/MCX trading memberships, CDSL and NSDL depository participant status, ISO 27001:2022 certification, and a transparent, single-page public charges list that holds up well under independent verification. For a self-directed trader who wants serious charting tools, API access, and a fair (if not the absolute lowest) cost structure, FYERS is a strong, defensible choice. For a beginner who wants hand- holding, bundled advisory, or the absolute cheapest delivery brokerage on the market, one of FYERS's larger discount-broker peers may be a better fit. ShareBazaar Online's overall assessment places.
