Fyers is another growing discount broker in India with a 4 Lakh client base. Fyers offers one of the lowest brokerage fees of flat Rs. 20 for intraday trading in India.
You’ll come to know about all the charges Fyers collects from its customers.
Fyers Charges Details
Fyers Account Opening Charges
Fyers offers free demat and trading accounts.
Fyers Annual Maintenance Charges
Fyers doesn’t charge any annual maintenance charges. Fyers is among the few top stock brokers in India who don’t charge any account opening charges as well as AMC. Upstox and Groww are the only other stock brokers that provide free accounts with zero AMC.
Fyers Brokerage Charges
Fyers has the lowest brokerage charges system similar to Zerodha. The brokerage charges are 0.03% or Rs. 20 per trade, whichever is lower. Delivery trades are free in Fyers
Let’s have a look at the brokerage charges
|Equity Intraday||Rs. 20 or 0.03% per executed order whichever is lower|
|Equity Futures||Rs. 20 or 0.03% per executed order whichever is lower|
|Equity Options||Flat Rs. 20 per executed order|
|Currency Futures||Rs. 20 or 0.03% per executed order whichever is lower|
|Currency Options||Rs. 20 per executed order|
|Commodity Futures||Rs. 20 or 0.03% per executed order whichever is lower|
|Commodity Options||Rs. 20 per executed order|
You can also check out Zerodha’s annual charges and other charges in this article.
Fyers Delivery Charges
Fyers charge zero brokerage on stock delivery. Fyers is one of the rare stockbrokers who provide free stock delivery.
Fyers Intraday Charges
Fyers charges a lower of Rs. 20 or 0.03% per executed order irrespective of the trading volume.
For example, if you trade worth Rs 20000 then Fyers will charge Rs 6 for stock intraday, not Rs 20.
But if you place an order for 5,00,000 then a fixed charge of Rs 20 will be charged.
Fyers Futures Trading Charges
Fyers charges a lower of Rs. 20 or 0.03% per executed order irrespective of the trading volume among all the segments.
For example, if you trade worth Rs 10000 then Fyers will charge Rs 3 for Futures, not Rs 20.
But if you place an order for 1,00,000 then a fixed charge of Rs 20 will be charged.
Fyers Options Trading Charges
Fyers charges a flat fee of Rs 20 per options order for all the segments (equity, currency, and commodity).
Fyers Call and Trade Charges
Fyers charges a fee of Rs. 50 per executed order for all trades executed through Call and Trade.
Call & Trade charges include –
- successfully placed orders
- executed orders
- rejected orders
- canceled orders
Fyers Charges for Mutual Funds
Fyers charges zero fees for mutual fund investments through its platform. You can also go through our list of best brokers for mutual funds investments.
Fyers Charges for IPO Investment
Fyers charges zero fees for IPO investments through its platform.
Fyers Plegde and Unpledged Charges
Fyers doesn’t charge any pledging and unpledging fee from its customers making it an attractive deal for traders.
Fyers Margin Shortfall Penalty
Fyers charges a penalty on the debit balance in the trading account.
|(< Rs 1 lakh) and (< 10% of applicable margin)||0.50%|
|(>= Rs 1 lakh) or (>= 10% of applicable margin)||1%|
A penalty of 5% will be applicable
- For every further instance of the shortfall is applicable, If there are more than 5 instances of a shortfall in a calendar month.
- For each subsequent instance of the margin shortfall, If the margin shortfall continues for more than 3 consecutive days.
- For MCX, from the 4th instance of the shortfall, if the margin shortfall is reported 3 times or more during a month.
Fyers Charges For Auto-square Off
Fyers charge Rs. 50 per auto-squares off all open intraday positions at or after the cut-off time.
|Segment||Equity intraday||Equity F&O||Currency F&O||Commodity F&O|
|Cut-off time||3.15 pm||3.15 pm||4.40 pm||25 mins before close|
Fyers CMR Physical Copy
First CMR request is free. Rs 20 + Rs 100 (courier charge) for subsequent CMR physical copy requests.
Fyers Off-Market Share Transfer Charges
You would need to pay Rs 12.5 per scrip for off-market share transfers.
Fyers Funds Add Charges
Fyers doesn’t charge any fee for funds deposits across all payment methods.
Fyers Funds Withdraw Charges
Fyers doesn’t charge any fee for withdrawing funds from your trading to your bank account.
Fyers Charges for Cancelled Orders
Fyers does not charge any fees for canceling orders.
Cancellation can be due to –
- Canceling orders manually
- Auto-canceled by the system
- Order rejected for short of funds or any reason
Fyers Charges for GTT
Fyers does not charge any fees for setting up GTT (Good Till Triggered) orders. However, a normal brokerage fee of up to Rs. 20 is charged when the order is triggered.
Fyers Charges For BTST
Fyers charges Rs 0 for BTST trades as this order comes under delivery product.
Fyers Charges for Debit Account Balance
If your account is in debit balance, any order placed will be charged Rs 40 per executed order instead of Rs 20 per executed order.
Fyers Delayed Payment Charges
- Fyers charges an Interest at 18% a year or 0.05% per day on the debit balance in your trading account in the following conditions
If the utilized funds cross the available balance in the Fyers account, it will lead to a debit balance. Additionally, if charges are debited without sufficient balance, it could result in a debit balance.
- For overnight F&O positions, 50% of the margin needs to compulsorily come in cash or cash equivalent collateral, and the remaining 50% can be in terms of non-cash collateral margin. If sufficient cash margin is not maintained and the shortfall is funded by the non-cash collateral, there will be a delayed payment charge of 0.035% per day or 12.5% per annum on the shortfall in the cash margin requirement.
Government Taxes and Regulatory Charges
Fyers SEBI Charges
Fyers charges a fee of Rs 10 per crore traded as SEBI charges that it has to pay to SEBI on behalf of its customers.
GST (Goods and Services Tax)
18% GST needs to be paid on all the charges like brokerage charges, SEBI charges, and transaction fees.
Fyers Transaction Charges
Fyers charges transaction charges for every trade executed on the exchange. The charges are levied by the exchange and vary from one exchange to another. The charges are as follows:
|NSE Equity (intraday/ delivery)||0.00345%|
|BSE Equity (intraday/delivery)||0.00375%|
|NSE Equity Futures||0.0020%|
|NSE Equity Options||0.053%|
|NSE Currency Futures||0.0009%|
|NSE Currency Options||0.035%|
|BSE Currency Futures||0.00022%|
|BSE Currency Options||0.001%|
Fyers STT Charges
STT (Securities Transaction Tax) is levied by the government on securities and commodities on all trades executed on the exchange. The charges are as follows:
|Equity Delivery||0.1% on both buy & sell|
|Equity Intraday||0.025% only on sell|
|Equity Futures||0.01% only on sell|
|Equity Options||0.05% only on sell|
|Currency Futures||No STT|
|Currency Options||No STT|
|Commodity Futures||0.01% on sell (Non-Agri)|
|Commodity Options||0.05% on sell|
Fyers Stamp Duty
Stamp duty is a tax levied by the state government on the transfer of securities. Stamp duty is charged only on the buy side.
The stamp duty charges are as follows:
|Equity Delivery||0.015% or Rs 1500 / crore|
|Equity Intraday||0.003% or Rs 300 / crore|
|Equity Futures||0.002% or Rs 200 / crore|
|Equity Options||0.003% or Rs 300 / crore|
|Currency Futures||0.0001% or Rs 10 per crore|
|Currency Options||0.0001% or Rs 10 per crore|
|Commodity Futures||0.002% or Rs 200 per crore|
|Commodity Options||0.003% or Rs 300 per crore|
Fyers DP Charges
Fyers charges a DP charge of Rs. 13.5 per scrip for each Demat debit transaction(sell). There are no charges for Demat credit transactions. This is charged only on stock delivery.
Fyers NRI Charges
NRI Fyers Account Opening Charges
You can open an NRI account only through offline mode. NRI cannot open the commodity (MCX) account with Fyers.
- Account opening fees – Rs. 500.
- AMC charges – Rs. 500
Fyers NRI Brokerage Charges
|PIS Account||Non-PIS Account|
|Equity||Lower of 0.5% or Rs 200 per executed order||Lower of 0.5% or Rs 100 per executed order|
|Futunre & Options||Rs 100||Rs 100|
Fyers Accounts Opening Partnership, LLP, HUF, or Corporate
|Equity (for trades on Equity, F&O, and Currency)||Rs 500|
|Equity (for trades on Equity, F&O, and Currency) and Commodity (MCX)||Rs 800|
I have tried to add the details of all the Fyers charges. If I missed any details, let me know in the comments.