Fyers is one of the recently launched discount brokers in India from its inception in 2015. The broker is based out of Bangalore and claims to offer the best online trading experience through its trading platforms. The team comprises of young entrepreneurs and that is why they have carefully chosen the brand name.
Fyers stands for "Focus Your Energy & Reform the Self" and thus, reasonably better services can be expected from the broker, at least initially. The discount broker is a member of NSE and MCX.
"Your Demat Account will be internally opened through IL&FS, a prominent depository services provider in India."
You can trade or invest in the following segments using its service:
- Mutual Funds
Fyers Trading Platforms
The discount broker offers some unique and one-of-its-kind features in its three trading platforms. Here are the details:
It is a trading terminal software that can help technical traders as well as fundamental investors at the same time. Clients need to download and install this application on their desktop or computer. Some of the features the trading application provides are:
- Advanced charting functionality with up to 30 days of Intra-day and of up to 5 years of historical EOD data with more than 60 indicators. The platform also provides intra-day charts for indices (they claim to be the only one to do that).
- "Stock Screeners" functionality helps to track, filter and research stocks as per user's preferences.
- Get a 360-degree view of the world market with minimal clicks.
- Real-time exchange updates and announcements of crucial board meetings and market happenings
- Advanced features such as "Heat Maps" can save a good amount of time that might get wasted in going over the numbers one by one at crucial moments.
This mobile app comes with a proposition that it uses minimal of internet data to provide maximum information and trading at real quick speed. The mobile app is available in Android as well iOS versions and comes with the following features:
- Data Analytics with maximum relevant information and less data cluttering that can be confusing
- Stock screener allows to analyze and find trading opportunities across different sectors and indices at the same time.
"Fyers is known to provide some of the best trading platforms to its clients, especially in the desktop and mobile-based trading softwares."
- Get access to more than 43 different options strategies
- Funds transfers with more than 25 banks allowed using the mobile app
- Highly interactive charting available
The broker can certainly work to quicken up its update frequency cycle, especially if you look at the competition and the kind of cutthroat mobile apps they provide to their clients.
Fyers Web Trader is a browser-based lightweight trading application that allows you to trade online. It is intentionally designed with minimal features to keep things easy and smooth for traders. Some of the basic features this application provides include:
- Portfolio tracking available with fund allocation
- Innovative equity SIP calculator
- Inbuilt option strategies that are auto-screened to make it easy to understand
There are a couple of concerns with this web application as follows:
- A limited number of features provide you with an around basic trading experience.
- If you are looking to perform your technical and fundamental analysis using this web app, then you are better off using the desktop-based trading solution rather than using this application.
Apart from the trading platforms mentioned above, the discount stock broker provides multiple tools as well for the usage by the clients and users:
- Calculator for Option Strategies
This tool is useful for beginners or small investors that are looking for some assistance in setting up strategies for their investments. With this tool, clients can find the most optimal strategies that may go well with their preferred industry and stock types. Clients have the option to choose from 44 possible option strategies including 2,3 as well as 4 legged option strategy.
By the look of this, it might be looking a lot technical - which is true. But the way, a beginner can learn and understand these strategies is simply amazing.
- Margin Calculators
These calculators take in minimal inputs from the users and assist with the calculation of margin across different segments. These exposure values can also be calculated at specific stock levels at a given price.
Then there are other tools such as:
- Brokerage calculator
- Fibonacci calculator
- Pivot point calculator
- Brokerage comparison calculator
Fyers Customer Service
Fyers offers the following communication channels for customer service:
- Phone (9am to 8 pm)
- Web Chat (intermittent)
- Social Media
- Play Store
The overall turnaround time in case of Fyers is good and users can expect a quality resolution to the raised concern in quick time.
Fyers offers themantic investing to clients, using which clients can just invest algorithmic based stocks from different themes (or industries) offering consistent long-term returns.
The broker is pretty much transparent with its pricing.
Fyers Brokerage Charges:
Brokerage charges are flat across trading segments. Here are they listed:
For more information, you can check this detailed Fyers Review