Fyers – An Overview
Fyers Securities is an online broker company based in Bangalore. They provide free stock delivery and discounted brokerage structure for investing in Equity, Commodity, and Currencies.
Fyers Securities was founded a few years back by a group of young entrepreneurs. They are dedicated to providing the latest technology for facilitating the smooth and easy trading experience for the customers.
Fyers Mobile Trading App is the most secure mobile trading platform available in the market right now. Fyers Securities also ensure a handsome margin and leverage offers for their customers. Their mobile app is known as Fyers Markets on the Google Play Store.
This article is about the mobile app review provided by Fyers Technology. We will also cover a comparison of the benefits and limitations of Fyers Mobile App.
Fyers Markets – Mobile App
FYERS Markets is a stylish and stable mobile trading app that works perfectly, even on low internet connectivity. It brings a lot of features on your fingertips and enables you to trade on the go.
It comes in a small package of 12 MB file, which makes it fast and furious. Currently, this app has over 50,000 active users, who have rated the app at 3.7 stars on Google Play Store.
Although the FYERS Markets is loaded with refreshingly new features,
Here are the top attractive features of this platform.
- Trading across various segments such as Equity, Commodity and Derivatives is possible with the use of a single app.
- Real-time data is available through a customizable market watch.
- You can get more than 20 years of historical data of your favourite scrips
- Smooth and Secure Fund Transfer process ensures the safety of your money.
- Variety of charts and 65 technical indicators for extensive research of the stocks.
- Stock Screener can spot trading opportunities in different industries and sectors.
- Free equity delivery.
- Fyers Mobile App comes with the Heat Maps feature, which is a great tool for quickly understanding the market situations.
- Heat Map is a graphical display of performance using color codes. Green means good, Red means bad and mixture of colors between them. Here is how it looks.
- Graphical representation of scrips details such as Put-Call Ratio, Support, and resistance, etc. Here is a screenshot of how it looks.
- Such a representation is very helpful and saves time while making a decision. It comes handy while trading intraday.
Fyers Brokerage, Fees & Charges
Being a discount broker, their fee structures are very affordable. If you are paying high brokerage with a traditional full-service broker till now, you must consider Fyers Securities as your savior.
You can save up to 60% of additional charges.
- Account Opening – No account opening fee is charged at Fyers.
- Annual Maintenance Charge – Zero Annual Maintenance charge on both Demat as well as Trading Accounts.
- Brokerage – Discounted brokerage structure of flat Rs. 20 per executed order. Be it Equity, Commodity, Intraday or Derivatives, brokerage remains the same.
- Call and Trade – For every executed order through a phone call, you pay Rs 20.
- Other Charges – DP charges (when you sell delivery-based equity) are Rs 10 + 5.5 CDSL Charges.
Read Also: Sharekhan Vs Fyers: Detail Comparison On, Different Factors
Fyers Mobile App Pros And Cons
Here is a comparison of the pros and cons of using Fyers Mobile App.
Pros
- Zero Account Opening and AMC Charges on Demat and Trading Accounts.
- Advanced order types such as Bracket orders, Cover Orders and Stop Loss Orders.
- The maximum brokerage is Rs 20 and zero brokerage for delivery transactions.
- Fyers Mobile App supports more than 24 nationalized banks for funds-in and fund-out.
- Innovative and professional trading platforms which are developed in-house and provide prompt error resolution.
Cons
- Fyers Mobile App does not provide the facility to invest in Mutual Funds.
- Depository charges are comparatively high.
- Fyers Mobile App does not show charts in portrait mode.
Conclusion
Fyers Markets is a decent app with the required features in the place. It is very affordable in terms of service charges and does not surprise you with hidden charges at all.
One may have to consider if they are especially interested in Mutual Funds or IPOs. However, for professional traders, tools like option strategy stimulation and market screeners are like an extra edge over others.
Fyers Mobile App FAQ
Q. Is Fyers Mobile App available for free?
Yes. The Fyers Markets is available on both Android and iOS users. It is completely free to be downloaded.
Q. Can I use Fyers Mobile App?
For using Fyers Mobile App, you will require a Demat and Trading Account with Fyers Securities. They facilitate instant account opening which is a completely online process. A set of login credentials will be provided upon successful activation of your account, which can be used for logging in to the mobile app.
Q. I want to open an account, how much will it cost? Is there a maintenance cost as well?
Demat and Trading account is provided for free at Fyers Securities. There are no annual maintenance charges as well on any of the accounts. Fyers only charge you when you make a buy or sell order.
Q. Can I trade in the Options segment using this app?
Yes, the Mobile App of Fyers comes with derivative trading enabled. Users who have a trading account with Fyers Securities can trade in Futures and Options (F&O) Segment. Flat Rs 20 will be charged as a brokerage for option trading.
Q. How to download this app?
The Fyers Mobile App is available on Google Play Store and Apple iTunes Store for free. You can easily get the app on your smartphone by following these steps:
- Open Play Store or iTunes Store (whichever applicable) on your smartphone.
- Type ‘Fyers’ in the search bar.
- The app is available with full name as FYERS MARKETS
- Click on the ‘Install’ button and follow the steps shown on your phone’s screen.
Q. Do they offer Call and Trade?
Yes, Fyers offer Call and Trade Facility. However, the facility is not free. You will be charged rs 20 per executed order.
Stockquantum was founded by Dharmendra Mukati in 2018. I am a Trader and Investor in the last 10 years.
I am writing here about stock broker review, broker comparison, IPO investment, Crypto currencies, technical analysis, fundamental analysis, sub brokership, mutual fund, personal finance, and our experiences.