Broker Comparison: Zerodha vs Fyers


Logos of Fyers and Zerodha with "vs" indicating a broker comparison between the two companies.

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Zerodha

One of India’s biggest and most trusted providers of online flat-fee discount brokerage services. It offers opportunities to invest in Equity, Currency, Commodity, IPO, Futures & Options, Bonds, and Govt. Securities, and Direct Mutual Funds.

Zerodha offers zero brokerage for equity delivery trades and direct mutual funds, thereby saving you a significant amount of money on commissions and fees. In addition, for intraday and Futures, it applies a flat rate of Rs 20 or 0.03% (whichever is lower) per trade. For options trades, there is a fixed charge of Rs 20 per executed order. With Zerodha, the maximum brokerage for any transaction is Rs 20 regardless of the order size, amount, or segment.

Zerodha is currently the best stockbroker out there. It provides an exceptional online trading platform, offers low brokerage fees, and is renowned for its transparency. Its continuous improvement and innovation have propelled it to become the fastest-growing fintech company in India. Here are the key strengths of Zerodha:

  • A leading stockbroker in terms of active clients, market volume, and new customer acquisition.
  • One of the safest, most reliable, and trustworthy brokers in the industry.
  • Offers the most advanced online trading tools.
  • No brokerage fees for buying stocks and mutual funds.
  • The maximum brokerage fee is Rs. 20 per trade, saving you 60% to 90% compared to traditional brokers.
  • Offers up to 20x leverage on intraday trading.
  • Offer direct mutual funds with zero commission.
  • Suitable for all types of investors, whether they are active or passive, beginners or experienced traders, including those who use algo trading strategies.

Zerodha Brokerage Charges

Zerodha follows a fixed brokerage model wherein it charges a flat Rs 20 or 0.03% (whichever is lower) per executed order. It charges zero brokerage on equity delivery. The maximum brokerage chargeable per order is Rs 20.

Zerodha Pros and Cons

Zerodha Pros (Advantages)

  • Most popular Broker – Zerodha is the leading stockbroker in India (based on the number of active clients and daily trading volume).
  • Safest, most reliable & trustworthy broker in India
  • The best trading platforms & tools in the industry – Kite, Console and Coin
  • Brokerage free Equity Delivery Trades – No brokerage is charged when you buy shares using cash-and-carry (CNC). Delivery trading does not use leverage. When you buy shares, they are delivered to your demat account. If you sell the shares, they will be debited from your demat account.
  • Cheapest share broker in India – They offer services with a simple pricing model: charging 0.03% or Rs 20 per order, whichever is lower, regardless of the trade size. The maximum brokerage paid by the customer is Rs 20 per trade.
  • Zerodha Referral Program – Refer a friend and earn 10% of brokerage share.
  • Self-Clearing Broker – Zerodha is a broker that clears trades on its own. They do not charge customers for clearing.
  • Pay as you go Brokerage Plans – Zerodha has a simple pay-as-you-go brokerage plan. There are no prepaid brokerage plans available.
  • Zerodha GTT orders – Set long-standing stop loss and target orders for your stock investments.
  • Zerodha Kite 3 mobile – Designed for all types of investors and traders, offering improved speed and user experience.
  • Online IPO Application – You can apply for IPOs online with Zerodha.

Zerodha Cons (Disadvantages)

  • Does not offer stock tips, research reports, or recommendations. Monthly unlimited trading plans are not available.
  • There are no plans for a lifetime free AMC demat account.
  • There is a charge of Rs 50 for each order that the customer does not close for MIS/BO/CO positions.
  • There is an extra fee of Rs 50 per executed order for using Call & Trade.
  • Zerodha does not offer banking services, so a 3-in-1 trading account is not available.
  • Zerodha Back Office (console) is not integrated with its trading platform like other 3-in-1 accounts providers. The data in the back office is updated overnight.
  • BSE SME IPOs are unavailable.

Fyers

Fyers Securities is an online stockbroker located in Bangalore that started in 2015. Fyers provides trading services in Equity Cash, F&O, and Currency Derivatives segments at NSE. The name Fyers is an acronym for ‘Focus Your Energy & Reform the Self’, which represents the company’s main values. The company was founded by young entrepreneurs who strive to create top-notch trading platforms, maintain transparency, and offer low trading costs in India.

Fyers is a cheap online stockbroker in India. They charge a flat fee of up to Rs 20 per executed order, regardless of the order size. They do not charge any brokerage for equity delivery. Fyers provides a free web trading platform, desktop trading terminal, and mobile trading app to its customers.

Fyers Brokerage Charges

Fyers follows a fixed brokerage model wherein it charges a flat Rs 20 or 0.03% (whichever is lower) per executed order. It charges zero brokerage on equity delivery. The maximum brokerage chargeable per order is Rs 20.

Fyers Pros and Cons

Fyers Pros (Advantages)

  • Free account opening.
  • Trading equity without paying brokerage fees for cash & carry transactions.
  • Fyers is a discount stock broker that offers very low brokerage fees. They charge a fixed rate of Rs 20 per trade for all trading segments, regardless of the trade size.
  • No hidden fees, just transparent and clear charges.
  • Our in-house trading platform can easily add new features and services.
  • All trading software’s are available for free of charge.
  • Single margin account.
  • Refer your friends and get 20% of their generated revenues for life!
  • Thematic investment, offered by Fyers, lets customers invest in groups of stocks. The stocks are grouped together based on specific ideas or criteria.
  • Demat account without POA.

Fyers Cons (Disadvantages)

  • Exchange transactions charges are higher than other discount brokers.
  • Depository services are offered by another company called IL&FS, and they have higher demat charges.
  • No branch offices.
  • No good ’til canceled (GTC) orders.
  •  No team of experts for market research.
  • Rs. 50 Admin square-off Charges
  • Call & Trade services at a flat rate of Rs 50.