Zerodha and FYERS both are leading discount brokers in India. Let’s talk about them one by one.
Zerodha, the first broking firm, that introduced the flat brokerage fee in India. Before zerodha introduced, you had to pay a specific percentage of brokerage to the broker you are trading through.
FYERS started its operation in August 2015 and get popularity due to its low brokerage along with free equity delivery.
FYERS which is still emerging if we talk about platforms and customer service, while Zerodha has improved a lot in terms of platforms, customer-centric services and customer support.
Let’s compare Zerodha and Fyers briefly before moving to the detailed review
Fyers vs Zerodha
Briefly comparison of zerodha and FYERS.
|A flat fee of Rs. 20/order.|
Equity Delivery Free
|A flat fee of Rs. 20/order.|
Equity Delivery Free.
|Facility to invest in IPO, mutual funds and bonds.||No such facility|
|Get a 3-in-1 account facility if you have an IDBI savings account||No 3-in-1 account option available|
|Zerodha offers direct mutual funds investment.||No mutual funds investment available|
Let’s have a detailed review of both Zerodha vs Fyers discount brokerage firms in India
Zerodha Demat & Trading Account Review
By the end of 2019, Zerodha claimed to become the largest broker in India with a huge customer database of 1.5 million active clients.
Zerodha Brokerage Charges
Zerodha offers free delivery. Cost effective if you are a long-term investor as you won’t have to pay any brokerage on equity delivery.
For intraday, trading charges are Flat Rs. 20 or 0.01%, whichever is lower.
Intraday trading includes equities, currency, and commodity trading.
|Equity Intraday Trading||Rs. 20 or 0.03% (whichever is lower)|
|Equity Options||Flat Rs. 20 per executed order|
|Equity Futures||Rs. 20 or 0.03% (whichever is lower)|
|Currency Options||Rs. 20 or 0.03% (whichever is lower)|
|Commodity F&O||Rs. 20 or 0.03% (whichever is lower)|
Zerodha Margin Provided
The margin provided on all products is 3-12.5% that is up to 8x depending on the script.
For Intraday orders in F&O –
- For Index, the margin required is 35%.
- For Stocks, the margin required is 45%.
- For Commodities & Currency, it is 50%.
As per SEBI’s new guidelines, Brokers can’t give high leverage to their customers.
Zerodha Account Opening Charges
Account opening charges for Trading & Demat account is Rs. 200 and for commodity account is Rs. 100. Free for the first year.
Zerodha’s Annual Maintenance Charge is Rs. 75 per quarter.
Depository Participant (DP) charges = Rs. 13.5/scrip.
Zerodha Trading Platforms Review
#1. Zerodha Kite Review
Kite is a fast & intuitively designed trading platform that allows you to trade equities, F&O, commodities, and currency. You receive updated information with live streaming of the latest market trends without any lag.
You can search across 90,000+ stocks across multiple exchanges instantly. You get multiple MarketWatch and live market depths up to level-3.
Kite’s level-3 data gives you deeper insights into market liquidity and allows you to set trading strategies accordingly.
You get 100+ indicators with an advanced charting interface.
#2. Zerodha Kite Connect Review
Kite Connect is a tool to create powerful trading platforms using simple HTTP/JSON APIs.
You can build your own investment app using these APIs and showcase that to Zerodha’s client base. Coin, SmallCase, and Streak are examples of investment/trading apps built over Kite Connect.
#3. Zerodha SmallCase Review
SmallCase allows you to build a diversified, low-cost portfolio for long-term investment purposes. A small case diversifies your portfolio with multiple stocks and protects you against market volatility of the market.
You have to pay fees only when you transact for mutual funds without paying any maintenance fee. You can invest in stocks and hold them in your account.
You can also invest in SIPs for regular & less risky investments if you are a newbie.
#4. Zerodha Streak Review
Streak is the world’s first platform for traders to create, backtest, and deploy trading strategies without any coding skills.
You can track real-time market trends, get alerts, and manage positions.
Streak work in 3 steps:
1. Create – You can create trading strategies by typing technical indicators, selecting stocks you want to trade, and targeting profit percentage.
2. Backtest – Backtesting allows a trader to simulate a strategy using previous years’ data to analyze risk and profitability before putting actual money at risk.
3. Deploy – Once you have done backtesting, you can deploy that without any need to track the stock manually.
#5. Zerodha Sensibull Review
Zerodha has collaborated with Sensibull to provide customers with the ‘Options Trading’ platform. You can trade Nifty Options, Bank Nifty Options, Stock Options, and many more.
You get expert advice in real-time on Whatsapp.
You can also learn trading with video lessons and practice virtually without investing real money.
Sensibull has three plans; Free, Lite, and Pro.
#6. Zerodha GoldenPi Review
Golden Pi is India’s first online platform to invest in bonds and debentures. You can invest in bonds & debentures to get fixed returns on your investments.
3 steps to start investing using GoldenPi-
- Choose bonds that match your goals
- Complete KYC online
- Make the payment online and receive bonds in your Demat account.
Zerodha Best For
Zerodha is best for both newcomers as well as professional traders. You can get free equity delivery & low-cost trading.
Professional traders can leverage not only the flat fee structure but they can also get detailed market analysis with different tools to create trading strategies.
If you want to invest in mutual funds, you can invest in mutual funds directly and save money there as well.
Another benefit of Zerodha is that you can also apply for IPOs using UPI (BHIM).
Also read – UpStox vs Zerodha Comparison 2020
- Free equity delivery
- Flat brokerage is cost-effective for a regular trader
- Hassle-free investments in IPO using UPI payments
- In-depth reports and vast historical data for better analysis
- Enable user to invest directly in mutual funds
- Ease of creating multiple trading strategies & alerts
- Better customer support, they even quickly respond to Google play reviews.
- Server slows down during peak hours
- Limited bank acceptance for NRI account
Fyers Demat & Trading Account
FYERS is a Bengaluru based brokerage firm that started in 2015 to provide cost-effective discount brokerage in India.
FYERS offers a unique thematic investing in which you get multiple options to invest for the long term investment based on different investment themes. Each theme has some set of stocks related to an investment idea rather than having a group of individual stocks.
For example, if you take Consumerism idea as theme investment. Consumerism theme will have shares from retail, FMCG, Food & Beverage space.
Let’s go through their Demat account features below.
Fyers Brokerage Charges
Apart from free brokerage on equity delivery and flat Rs. 20 per executed order brokerage in trading.
In regular investing or trading brokerage charges are as below.
|Equity Intraday Trading||Rs. 20 or 0.01% (whichever is lower)|
|Equity Options||Flat Rs. 20 per executed order|
|Equity Futures||Rs. 20 or 0.01% (whichever is lower)|
|Currency Options||Flat Rs. 20 per executed order|
|Commodity F&O||Flat Rs. 20 per executed order|
In Thematic Investing, buying shares are Free of brokerage but you have to pay Rs. 100 or 2% (whichever is lower) when you sell your shares.
Fyers Account Opening Charges
Account opening is FREE.
Annual Maintenance Charges (AMC) are zero.
Demat Debit Charges – Rs. 10 + Rs. 5.50 (CDSL Charges).
Fyers Trading Platforms
#1. FYERS One
FYERS One is a desktop-based trading application that offers you a real-time analysis of your stocks right from your pc. You can trade seamlessly using this amazing desktop trading software.
The benefits of FYERS One are as below.
- You can create multiple watch lists and track your favorite stocks.
- You can buy or sell your orders without any delay.
- More than 60 technical indicators for better analysis of market trends.
- Advanced charting options available that allow you deeper fundamental and technical analysis.
- FnO analysis tools help you make an informed choice in Futures and Options trading.
- Get real-time updates on the latest market trends, meetings, and other important news.
#2. FYERS Web
You can use FYERS Web on your desktop, mobile, tablet or MacBook using any web browser for advanced trading experience. FYERS web has advanced features like chart analysis, technical indicators, price ladder analysis, and trade from the chart, to enhance your trading experience.
Benefits of FYERS Web Platform are-
- More than 70 technical indicators for better analysis of market trends.
- More than 20 years of data and 300 plus icons for advanced research.
- Get portfolio tracking, auto-screened ‘futures & options’ strategies and live information feed.
- You can execute orders from the charts.
- End-of-Day Analysis gives you a detailed report of your actions when trading is over.
- Price ladder visualization can show you price action before placing orders.
#3. FYERS Markets
FYERS Markets is an advanced mobile trading app that offers you faster trading, multiple screeners, and live feed right on your smartphone.
Benefits of the FYERS Markets-
- You can keep an eyer real time movements of market.
- You can access order history, and trade Positions
- More than 65 indicators to analyze charts for analysis on the go.
- Instant order placement and order book updates
- Stock screeners for informed decision making.
#4. FYERS API
You can create your own trading platforms or you can deploy your trading strategies as per your requirements using FYERS API. It is free of cost.
Benefits of the FYERS API-
- You can automate your trading system by deploying different trading strategies.
- Startups can use the FYERS platform to build innovative trading platforms to expand capital market ecosystems.
- Trading/Investing websites can provide a complete experience to their audience using FYERS API.
- Free brokerage in equity delivery.
- Low-cost brokerage in all trading segments
- Trading platforms available for desktop as well as mobile.
- API universe to create new trading platforms or deploy strategies.
- Average customer support
- Not as powerful trading platforms as Zerodha
- You can’t invest in IPOs, mutual funds or Debentures/Bonds
- No 3-in-1 account facility
- Less established broker as compared to rivals.
FYERS vs Zerodha (Comparison Table)
Let’s compare all the features Zerodha and Fyers in detail
|Only one brokerage for all customers – Flat Rs. 20/order or 0.03% (whichever is lower.)||Flat brokerage – Rs. 20/order or 0.01% (whichever is lower.)|
Thematic Investing – Buying Free.Selling – Rs. 100 or 2% per order
|Zerodha’s Streak platform allows you to deploy trading strategies without any coding skills.||FYERS API strategy deployment platform but you need coding skills.|
|Up to 8x leverage for intraday trading||Up to 7x leverage|
|Zerodha offers direct mutual funds investment.||Doesn’t offer mutual funds investment|
|You can invest in Bonds and debentures online.||No facility to invest in Bonds and debentures.|
|Facility to invest in IPO with UPI||Doesn’t offer IPO investments|
|IDBI bank account holders can contact customer care and get the 3-in-1 account.||Doesn’t offer 3 in 1 account|
|Good Customer Service||Average Customer Service|
Zerodha is a more trustable and stable discount service provider in India. So if you ask me which is better in between fyers and Zerodha then I would suggest you open an account with Zerodha.