Fyers review

The account fee is INR 0 and the minimum deposit is INR 0, so opening the account does not cost anything. Fyers runs a low-fee pricing model, which means the money that matters sits on the trade itself rather than on a monthly charge.

A stock trade costs INR 20 and an options trade costs INR 20, a flat amount per order rather than a share of the trade value. For comparison, eToro lists a stock trade fee of $0.

Fyers lists stocks, etfs and futures among the markets it covers, so equities, exchange traded funds, futures, options, bonds and fund holdings sit under the same account. Its demo account and mobile app also give you a mobile app and a demo account to practise before committing money.

Fyers targets experienced and day traders, so it fits people who already follow the markets and trade through the day rather than people making an occasional purchase. The demo account lets a new user size up the platform before funding it.

Margin is priced at 12.49% to 16.49%, charged on the borrowed part of a position, and it stacks on top of the INR 20 stock trade fee. Anyone using the margin facility should weigh that rate against the flat per-order charges.

Fyers ranks 1 on account fee out of 142 brands and 1 on minimum deposit out of 218, yet 101 on stock trade fee out of 166. Holding an account is cheap, the order is where you pay.

Trading is risky whatever the fee. 70.15% of retail accounts across the site lose money, and the investing ranking puts its figure at 72.05%. A flat INR 20 charge keeps costs down but leaves that risk in place.