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Should I use FYERS?

Start trading in equities, f&o, etc. Access advanced charting, fast order execution, and APIs for smart trading by opening your free demat account with FYERS. - fyers.in

Depends. A strong fit for active Indian traders who want flat cheap brokerage, advanced charts, and algo APIs. Passive buy-and-hold investors and beginners needing hand-holding should look elsewhere.

Confidence

Medium. Based on 30+ public sources; review snippets were truncated in the source data.

Ratings

  • Value for money
  • Ease of use
  • Feature depth
  • Support qualityNo reliable support evidence found
  • Security posture

Pricing

Standard

₹20 or 0.03% per executed order

ModelNot disclosed
Monthly feesNot disclosed
HardwareNot disclosed
Free tierYes
FYERS PrimePaid subscription (two plans)

Best for

  • Active F&O traders
  • Algo and API traders
  • Cost-sensitive frequent traders
  • TradingView-style charting users

Not for

  • Buy-and-hold investors trading twice a year
  • First-time investors wanting guided onboarding
  • Full-service advisory seekers wanting research calls
  • Mutual fund and SIP-first investors

Gotchas - check before you buy

medium

Cheaper rates require paid FYERS Prime subscription; standard plan is ₹20/order

medium

SEBI fine for peak-load and DR norms suggests past infrastructure strain

medium

Algo traders: documented refresh-token validation bug was acknowledged on FYERS community

medium

One public account alleges big losses via a faulty system; verify order safeguards

Pros and cons

Pros

  • Flat ₹20 or 0.03% per executed order; rated among cheapest brokers
  • Free demat account opening
  • Advanced charting, fast execution, and APIs for algo trading
  • Free advanced charting pitched as answer to paid TradingView in India
  • Runs a bug bounty; paid ₹2.4 lakh for a critical security find

Cons

  • SEBI fined FYERS ₹4 lakh over peak-load and disaster-recovery norms
  • Trader publicly alleges heavy losses from a faulty FYERS trading system
  • Community-reported API bug: refresh token skipped appIdHash validation
  • Users remain torn between FYERS and Zerodha; no runaway winner

Sources & method

Analyzed 9/27/2026 - 13 sources - Active bug bounty with paid rewards; SEBI fined FYERS ₹4 lakh (2025) for peak-load/DR violations; no breach found in sources reviewed.

official x3review x5security x3news x2
  • SEBI fine for peak-load and disaster-recovery norms, SEBI fined FYERS ₹4 lakh in February 2025 for violating peak-load and disaster-recovery norms.
  • API refresh token bug, Community report (Jul 2024): refresh token flow did not validate appIdHash; acknowledged by FYERS staff.

Key stats

  • Value for money: 5/5

    Rating

  • ₹20 or 0.03% per executed order

    Starting price

  • 13

    Sources

  • Analyzed

  • Value for money: 5/5. Flat ₹20/order; called among the cheapest
  • Ease of use: 3/5. Called beginner-friendly, but UX critiques published
  • Feature depth: 4/5. Advanced charts, APIs, algo tools, order flow
  • Support quality. No reliable support evidence found
  • Security posture: 3/5. Bug bounty pays; SEBI fine, API token bug
  • ₹20 or 0.03%/order Brokerage per executed order, standard plan
  • 2016 Founded Bengaluru, India
  • 3.4/5 AmbitionBox rating 100+ employee reviews
  • Free Account opening demat account

Pricing

Standard

₹20 or 0.03% per executed order

  • Flat brokerage across segments
  • Free demat account opening

FYERS Prime

Paid subscription (two plans)

  • Lower brokerage than standard
  • Premium features for heavy traders

Security

Active bug bounty with paid rewards; SEBI fined FYERS ₹4 lakh (2025) for peak-load/DR violations; no breach found in sources reviewed.

  • SEBI fine for peak-load and disaster-recovery normsSEBI fined FYERS ₹4 lakh in February 2025 for violating peak-load and disaster-recovery norms.⁴
  • API refresh token bugCommunity report (Jul 2024): refresh token flow did not validate appIdHash; acknowledged by FYERS staff.10

Alternatives

Compare FYERS with each alternative.

Full analysis

Based on 30+ public sources; review snippets were truncated in the source data.

Cheap, feature-heavy broker for active Indian traders; overkill for buy-and-hold investors and beginners needing hand-holding.

Methodology

Based on 30+ public sources; review snippets were truncated in the source data.

Sources

  1. FYERS Pricing — Trading Charges & Brokerage Feesfyers.in
    official
  2. FYERS Prime Subscriptionfyers.in
    official
  3. FYERS Homepagefyers.in
    official
  4. SEBI fines broker FYERS Rs 4 lakh — Moneycontrolmoneycontrol.com
    news
  5. Fyers — Verified Reviews from Actual Traders (TradingView)tradingview.com
    review
  6. Fyers Stock Trading, Demat, Brokerage and Reviews (Chittorgarh)chittorgarh.com
    review
  7. Best broker for F&O in 2025? — Redditreddit.com
    review
  8. My Trading Broker Review — Redditreddit.com
    review
  9. FYERS Bug Bounty Programfyers.in
    security
  10. Bug — Refresh Token — Not validating appIdHash (FYERS Community)fyers.in
    security
  11. ₹2.4 lakh critical bug reward — LinkedInlinkedin.com
    security
  12. Trader alleges losses from faulty FYERS system — LinkedInlinkedin.com
    news
  13. FYERS Securities Employee Reviews (AmbitionBox)ambitionbox.com
    review

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