Reviewed by Neil, Founder, PaisaTrade.in · Updated 2026-09-29
Fyers Review 2026
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Brokerage
₹20
AMC
₹0
Active Clients
3.5 Lakh
Founded
2015
About Fyers
Fyers is one of India's most recognized stock brokers, registered with SEBI (Registration No: INZ000005032). Founded in 2015 and headquartered in Bangalore, Karnataka, Fyers has built a strong reputation in the Indian capital markets. With over 3.5 Lakh active NSE clients, a growing broker with a loyal client base in terms of registered clients.
As a discount broker, Fyers offers trading across Equity, F&O, Currency, Commodity, Mutual Funds segments. The broker operates a app-first, mobile-native trading infrastructure, catering primarily to chart traders, algo traders, technical analysts.
The brokerage model at Fyers is straightforward: flat fees with zero delivery brokerage. This model favours active traders and long-term investors alike, as delivery (holding) trades incur no brokerage — only SEBI charges, STT, stamp duty, and exchange fees apply.
Account Opening Process
Opening an account with Fyers is a fully online, paperless process. You need your PAN card, Aadhaar, bank account details, and a signature image. The KYC verification is Aadhaar-based (eKYC) and typically completes within 24–48 hours. Account opening fee is ₹200.
Brokerage Calculation Example
Let's say you buy 100 shares of Reliance at ₹2,800 (total value = ₹2,80,000):
Margin & Leverage
For intraday equity trades, Fyers provides Up to 5x leverage. For F&O, margin requirements follow SEBI's SPAN + Exposure framework set by the exchanges. Note: As per SEBI regulations, naked short selling in options requires full premium upfront, and margin pledge requirements were updated in 2021.
Fyers offers a Margin Trading Facility (MTF) for select stocks, allowing you to hold leveraged positions for more than one day by paying daily interest.
Tax & Compliance Features
Fyers provides detailed P&L statements, tax P&L reports (for ITR filing), and SEBI-compliant contract notes for every executed trade. These are accessible from the web platform and downloadable as PDFs. For mutual fund investments, Fyers provides capital gains statements aligned with LTCG/STCG tax brackets.
SEBI Registration & Safety
Fyers is registered with SEBI under registration number INZ000005032. Client funds are held separately from the broker's own funds as per SEBI's client asset segregation norms. Fyers is also a registered member of NSE, BSE, MCX, and NCDEX (where applicable). Your demat account is held with NSDL or CDSL — separate from the broker — ensuring your securities are safe even if the broker faces financial difficulties.
Active Client Base
3.5 Lakh
Active NSE Clients (2026)
#14
NSE Rank by Active Clients
Fyers ranks #14 among all NSE-registered stockbrokers by active client count. NSE publishes this data monthly — Fyers's consistent presence in the top 20 reflects strong client retention and new account growth. The broker primarily serves chart traders, algo traders, technical analysts.
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