Fyers review and brokerage charges

We’ll go over the Fyers review, its features, platforms, products, and most importantly, brokerage charges, in this blog post.

About Fyers

Fyers is an online brokerage firm based in Bangalore that was started in 2015 by a group of young skilled traders. Fyers lets you trade stocks, options, currencies, and commodities on the NSE, BSE, and MCX. Fyers also offers a range of services that add value, such as thematic investing, mutual funds, initial public offerings (IPOs), and trading APIs.

Fyers says it is the best platform for traders because it has no fees, advanced charting tools, thematic investing, and more. But should you really use it? Let us find out in this Fyers review.

Why you should use Fyers:

No brokerage fees: For equity delivery trades, Fyers doesn’t charge any fees, so you can buy and hold stocks without having to pay a commission. For long-term investors who want to save money, this is a big plus. In other areas, like intraday equity, futures, options, and currency, Fyers charges a flat fee of Rs. 20 or 0.03% per order, no matter how big or small the trade is. Compared to other brokers who charge a percentage of the trade value, this is also a very good deal.

Powerful charting tools: Fyers has a web-based trading platform called Fyers Web that is easy to use and looks great. It has more than 60 technical indicators, drawing tools, and chart types that you can use to look at patterns and trends in the market. Using the Fyers API, you can also make your own indicators and trading plans. Trade From Charts is another feature of the platform that lets you place orders right from the charts without having to switch tabs or windows.

Thematic investing: Fyers also has a unique feature called “Thematic Investing” that lets you invest in stock portfolios that have already been put together based on different themes, sectors, or strategies. You could, for instance, put your money into a portfolio of stocks in electric vehicles, stocks that pay dividends, or value stocks. You can also make your own themes and give them to other investors to use. It’s easy and quick to diversify your portfolio and follow your interests with thematic investing.

Service: Fyers has a customer service team that is available by phone, email, chat, and social media 24 hours a day, seven days a week. When you have a problem or question, the team responds quickly and is happy to help. You can also go to the Fyers community forum and talk to other traders and investors there. Share your thoughts and ideas, and learn from their mistakes.

Cons of using Fyers:

Technical problems: One of the biggest problems with Fyers is that the platform often has problems and goes down. A lot of users have reported problems, such as login errors, orders not being filled, delays, data mismatches, and so on. Traders who depend on speed and accuracy can get very frustrated and have a lot of trouble with these problems. To keep customers happy and trusting Fyers, it needs to make its technical infrastructure and dependability better.

Few products available: One more problem with Fyers is that it doesn’t offer as many products and services as some other brokers. Fyers doesn’t offer insurance, loans, mutual funds, or bonds. It also doesn’t have trading software for computers or an iOS app for phones. Fyers might not be the best choice for you if you want to take care of all your financial needs in one place.

Margin funding: Fyers does not offer its customers any margin funding or leverage on commodities or currencies. This means you can’t borrow money to trade or use complex strategies like arbitrage or hedging at all. This could make it harder for you to trade and make money. There may be other brokers who offer margin funding that you need to look for if you want more risk and exposure.

Limited product range: Unlike some competitors, Fyers doesn’t offer full-fledged wealth management services or research reports.

Customer support experience: While generally positive, some user reviews point to occasional delays or limited support for non-technical issues.

Visit Fyers customer support here

Fyers Unique features

Fyers’ low and open brokerage charges are one of the company’s key selling points. Fyers charges a flat fee of Rs. 20 for every order that is carried out, no matter how big or small the trade is. You can save up to 95% on brokerage fees if you compare them to traditional brokers who charge a fee based on the value of your trade. Also, Fyers doesn’t charge any fees to open or keep an account, which makes it one of the cheapest brokers out there.

Fyers also has a variety of advanced and easy-to-use trading platforms for traders with different trading styles and preferences. Fyers One is a desktop trading terminal that lets you trade quickly and offers real-time data, advanced charting tools, and different screen layouts. If you want to trade on Fyers Web, you can use any web browser or device without having to download any software. It has features like live market updates, watchlists, a portfolio tracker, and alerts.

There are also some things about Fyers that make it different from other brokers. For example, Fyers Thematic is a platform that lets you buy stocks that are already put together in portfolios based on different themes, like industries, trends, strategies, or goals. You can make your own theme or pick from more than 100 themes that have been hand-picked by experts. Diversifying your portfolio with Fyers Thematic can help you lower your risk and save you time and work.

In conclusion:

Fyers is a good platform for traders who want to avoid brokerage fees while still having access to advanced charting tools and investing in themes. But it also has some problems, such as bugs, a small selection of products, and no margin funding. Before you decide if Fyers works for you, you should think about the good and bad things about it. Have fun trading!

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