₹20 Intraday & F&O (or 0.03%)		₹0 AMC — lifetime		₹0 MF & IPO brokerage
₹12.50 DP charge/scrip (lowest)		NRI Accounts available		4.1/5 CSB Rating

Fyers — an acronym for Focus Your Energy & Reform the Self — is a technology-first discount broker founded in 2015 in Bangalore by three brothers: Tejas Khoday (CEO), Yashas Khoday (CTO), and Shreyas Khoday. In a market dominated by established names, Fyers has carved a distinct niche by prioritising platform quality over customer acquisition volume. Its most prominent differentiator is arguably the best charting experience in Indian retail broking — powered natively by TradingView, the global standard for professional-grade technical analysis. This is not a basic TradingView widget bolted on; Fyers is an official TradingView broker partner, meaning users get the full TradingView charting environment within the Fyers platform.

Fyers serves approximately 2.45 lakh active clients (as of November 2024) and generated revenue of ₹313 crore in FY2025. It is a smaller broker in terms of client count compared to Zerodha, Groww, and Angel One, but its active trader base is disproportionately made up of technically sophisticated traders who value charting depth, API flexibility, and platform speed over mass-market features. For this audience, Fyers consistently ranks among the top 3 choices alongside Zerodha and Upstox.

Key structural advantages Fyers has over peers: DP charge of just ₹12.50 per scrip — cheaper than Zerodha's ₹15.34, Groww's ₹20, and Angel One's ₹20. Tiered MTF interest starting at 12.49% p.a. for large borrowers — the lowest among major discount brokers. NRI accounts available at a flat ₹50/order. GTT orders supported. Free API with no monthly fee. And the 30-day challenge program — where Fyers refunds up to ₹10,000 in brokerage if you trade profitably for 30 consecutive days.

Brokerage charges

4.1

Trading platform & charts

4.5

Mobile app

4.0

Customer support

3.4

Research & tools

3.6

API & algo trading

4.3

Account opening

4.3

Transparency

4.2

Overall Rating

4.1

Ratings based on independent testing, verified user reviews, SEBI complaint data, and platform benchmarking. Updated March 2026.

All charges below are verified directly against Fyers' official charges page (fyers.in/charges-list) as of March 2026. One important clarification: Fyers' delivery brokerage is ₹20 or 0.3% (not 0.03% as many review sites incorrectly state). This distinction matters at lower trade values. Intraday and F&O are correctly 0.03%.

Fyers offers one of the most transparent and competitive MTF structures among Indian discount brokers — a tiered interest rate that gets cheaper as you borrow more. Large borrowers above ₹25 lakh get 12.49% p.a., significantly below Angel One (14.99%) and Groww (14.95%). The tiered model rewards scale, making Fyers particularly attractive for traders who use MTF actively with meaningful capital.

Fyers Web is where the platform truly shines. As an official TradingView broker partner, Fyers integrates TradingView's full charting suite natively — meaning every indicator, drawing tool, Pine Script strategy, and TradingView feature is available directly within your Fyers account without switching platforms. This is materially different from brokers that show a stripped-down TradingView embed. Multi-timeframe analysis, 100+ indicators, depth of market, replay mode, and custom Pine Script alerts all work as they would on tradingview.com itself. For technical traders, this is the best charting environment in Indian broking.

Fyers One is a downloadable desktop trading terminal built for active traders. It offers multi-monitor layouts, advanced order management (bracket, cover, AMO, GTT, basket orders), real-time market depth, and fast keyboard-based order entry. Preferred by high-frequency intraday traders who need the speed and stability of a dedicated desktop application over browser-based platforms.

Insta Options is Fyers' dedicated options trading tool designed for strategy execution. Features include live option chain with Greeks, strategy payoff visualiser, basket order placement, and quick strategy templates. While not as deep as 5paisa's FnO 360 in terms of live Greeks analytics, Insta Options integrates better with Fyers' TradingView charts for a unified charting-to-execution workflow.

Fyers API is free with no monthly subscription — same as Angel One's Smart API, and in contrast to Zerodha's ₹2,000/month Kite Connect. The Fyers API is well-documented, Python-friendly, and actively maintained. Fyers API Bridge adds third-party platform integration (Amibroker, MetaTrader, TradingView alerts, Nest, etc.) with no extra monthly fee. For retail algo traders this combination is among the best available in India.

Fyers offers thematic investing — a feature that lets you invest in a curated basket of stocks grouped around a common theme (e.g., electric vehicles, defence, digital payments, FMCG, IT exporters) rather than picking individual stocks. This sits between stock picking and mutual fund investing: you get diversification across a theme with direct stock ownership and no fund management expense ratio. One click executes all orders in the basket simultaneously. For investors who have a view on a sector or trend but don't want to analyse individual stocks, this is a practical and cost-efficient approach.

Fyers School of Stocks is a free structured education platform covering market fundamentals, technical analysis, options theory, derivatives, and trading psychology. The content is practical and trader-oriented, making it more relevant for active traders than Groww's SmartMoney. It does not match Zerodha Varsity's 13-module depth but is among the better free education resources from Indian discount brokers.

The 30-day challenge is a unique Fyers program: if you trade consistently for 30 days and are net profitable at the end of that period (after accounting for all brokerage and transaction costs), Fyers refunds all brokerage charged during those 30 days — up to ₹10,000. The challenge is open to all Fyers clients across NSE, BSE, and MCX, can be taken multiple times per year consecutively, and is activated via a single click in the Fyers trading platform. No other major Indian broker offers a comparable brokerage refund based on trading profitability.

Fyers account opening is fully online and claims to take under 5 minutes. Typically activated within 24–48 hours on working days.

1	Visit signup.fyers.in — Enter mobile number, verify via OTP. Email verification in the same step.
2	PAN + Aadhaar eKYC — PAN verified against income tax DB. Aadhaar OTP via Aadhaar-linked mobile for eKYC.
3	Bank account + selfie — IFSC + account number. Penny drop verification. Selfie for IPV compliance.
4	E-sign — Aadhaar OTP-based e-signature for account agreement. Digital and legally valid.
5	Account activation — Within 24–48 hours on working days. Login credentials via email + SMS.

• You need the best charting available in Indian broking — TradingView-native integration with full Pine Script, all indicators, replay mode, and multi-timeframe layout. No other Indian broker offers this depth natively.
• You are an algo trader who wants a free API with third-party bridges — Fyers API + API Bridge (Amibroker, MetaTrader, TradingView alerts) at zero monthly cost is the most flexible free algo setup in India alongside Angel One.
• You are an NRI looking for a modern tech-first broker — Fyers offers NRI accounts at ₹50/order with ₹0 AMC. Better user experience than Angel One's NRI offering for digitally-comfortable NRIs.
• You sell delivery shares frequently and want the lowest DP charge — ₹12.50 per scrip vs ₹20 at Groww, Angel One, and Upstox. For a frequent delivery seller this adds up to significant savings over a year.
• You use MTF with significant capital — 12.49% p.a. for borrowings above ₹25 lakh is the best MTF rate among major discount brokers.
• You want GTT orders — Fyers supports GTT (Good Till Triggered) unlike Groww and Angel One.

• You make frequent small delivery trades — Delivery brokerage is 0.3% on trades below ₹6,667. A ₹2,000 delivery trade costs ₹6 at Fyers vs ₹0 at Zerodha. Zerodha is far better for regular delivery investors.
• You call to trade regularly — ₹50+GST per call is the highest Call & Trade charge among major discount brokers. Always use the app or web platform.
• You are a beginner who wants simplicity — Fyers' platform depth is an advantage for experienced traders but overwhelming for first-time investors. Groww is the right starting point.
• You want ₹0 AMC permanently guaranteed — Fyers' ₹0 AMC is a "limited period offer" with no permanent commitment. Groww guarantees ₹0 AMC with no conditions.

Regulatory standing: Fyers Securities Pvt Ltd is SEBI-registered, a Trading Member of NSE and BSE, MCX and NCDEX member, and a Depository Participant with CDSL. SEBI registration ensures regulatory oversight, margin segregation requirements, and client fund protection rules. Your shares are held in your own CDSL demat account, completely separate from Fyers' business balance sheet.

Financial profile: Fyers generated ₹313 crore revenue in FY2025 and employs ~390 people. It is a private company (not listed), bootstrapped — no institutional VC funding disclosed publicly. The founders (Tejas, Yashas, and Shreyas Khoday) remain in operational control. The company has operated since 2015 with no reported regulatory suspensions or major SEBI penalties.