How good is Fyers for Stock Trading?

Wanted to put you hard earned money into stock market? In today’s dynamic world environment, this decision is nothing surprising but it can have long consequences if proceeded incorrectly. And the most preferred way to move further is to choose the right stockbroker that can understand your exact investment needs and provide the best investment tool matching the same.

Among various stock brokers available today, one prominent name in the market is Fyers. Let’s get to know more about it in the following Fyers Review.

Fyers started its journey from Bangalore in the year 2015 when it was started by a young entrepreneur who was willing to come up with the best trading platform for today’s investors. This company is known for its translucent operations and competitive brokerage. It’s an online stock broker and offers a trading platform.

Fyers was incorporated by Tejas Khoday, Shreyas Khodey and Yashas Khodey and soon after t they spread across the country and now having Pan India presence. The headquarters of the firm is in the Bangalore at of now and it operates in all major cities of the country.

Fyers Offers free Demat account, along with the trading account. However, the most exciting offer of this firm is the discount it gives in regard to the brokerage. Therefore, in relation to these discounts, one can bring down their brokerage charges to a great level and that shoots up the return on the investment.

Fyers Brokerage Charges

Here you will get details of brokerage charged by Fyers on all sections
What are the Equity Delivery Charges?	Free
What are the Equity Intraday Charges?	0.01% or Rs.20 per Executed order
How much brokerage charged for Commodity Trading?	0.01% or Rs.20 per Executed order
What is the brokerage on Equity Futures?	0.01% or Rs.20 per Executed order
How much brokerage charged for Equity Options?	Rs.20 per executed order
What is the brokerage on Currency Futures?	0.01% or Rs.20 per Executed order
What is the brokerage on Currency Options?	Rs.20 per executed order
How much is the Minimum Brokerage requires?	Rs.20 per executed order
What is the Demat AMC?	Free for 1st year & Rs.300
How much is the Trading AMC?	Nil
What is the Minimum Margin Required?	0

 Other Charges

Transaction Charges	0.00275% of Total Turnover
STT charges	0.0126% of Total Turnover
SEBI Turnover charges	0.0002% of Total Turnover
Stamp Duty levied	Depends on State (very minimal)
GST	18% of (Brokerage + Transaction Charges)

 Fyers account opening procedure

1. Click on the link given stating “Open Demat Account” which refers to the application for the Fyers Demat account. The link will open up an application form.
2. Fill the form duly with the required information. Make sure all the details are error-free.
3. Now, submit the form and you will get on the next page where you need to upload required documents.
4. On this page, you have to upload the scan copies of the documents such as PAN, Address proof, income proof, bank statement, and obviously AADHAAR card copy in order to verify your details.
5. Once you upload the documents, you will get a call from the Fyers’ executives who will confirm all the details and verify the details.
6. Once the verification process is done, you will get your account details, login credential and then you can proceed with stock trading.