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Fyers Review
Fyers is a SEBI registered discount broker in Bangalore for Indian stocks, derivatives and currency futures, built mainly for local traders, not global forex clients.
Min Deposit
$0
Spreads From
Not applicable, Fyers routes orders straight to NSE, BSE and MCX order books
Max Leverage
Up to 4x through its Margin Trading Facility on equity delivery shares
Platforms
FYERS Web & App, FYERS One
Pros
- SEBI registered stockbroker with NSE, BSE and MCX membership since 2015
- Free account opening and a free yearly maintenance charge on demat accounts
- ISO 27001 certified, with FYERS One, FYERS Trader and a free trading API
- TradingView shows a 4.3 out of 5 rating from more than 11,000 traders
- Margin Trading Facility gives up to 4x leverage on delivery stocks
Cons
- SEBI fined Fyers 4 lakh rupees in 2025 over gaps in its disaster recovery planning
- Fyers only trades Indian markets, so it does not suit traders who want spot forex or global CFDs
- Referral payouts ended in 2024 after a new SEBI rule on authorised persons took effect
- It offers exchange listed rupee currency derivatives only, not spot forex or CFD trading
Fyers is an Indian stock and derivatives broker based in Bangalore. Brothers Tejas, Yashas and Shreyas Khoday started the business in 2015. The current company, FYERS Securities Private Limited, was registered in 2018 and holds SEBI registration INZ000008524 as a member of the NSE, BSE and MCX.
Account opening and yearly maintenance are free. A standard order costs up to 20 rupees, or a small percentage of order value, whichever is lower. Traders get FYERS Web and App, the FYERS One desktop terminal, a TradingView powered FYERS Trader platform, and a free API for automated strategies.
SEBI fined Fyers 4 lakh rupees in February 2025 over gaps in its disaster recovery planning, and issued a separate order against the firm in March 2024. Fyers also opens NRE and NRO accounts for Non Resident Indians in more than 50 countries, but it does not serve retail clients outside India.
Min. Deposit
USD 0
Max Leverage
Up to 4x through its Margin Trading Facility on equity delivery shares
Spreads From
Not applicable, Fyers routes orders straight to NSE, BSE and MCX order books
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
