Zerodha vs Fyers
Both Zerodha and Fyers are leading discount stock brokers catering to Indian retail investors looking to trade in stocks and derivatives. While Zerodha is the largest stock broker in India with over 5 million clients, Fyers has also been growing rapidly to establish itself as a top choice for active traders. When choosing a broker, pricing and fees are usually the first things investors consider. We will compare pricing, trading platform and other features of both these leading stock brokers in India.
Zerodha overview
Zerodha has cemented its position as one of India's top online stockbrokers within a short span of time. Founded in 2010 by brothers Nithin and Nikhil Kamath and headquartered in Bangalore, this fintech disruptor has brought affordable and flat pricing for trading to Indian retail investors.
From its early days when it competed with traditional brokerage firms like ICICI Direct, Zerodha has now grown to become the second largest stockbroker in terms of active clients. It offers a comprehensive suite of investing products including equity, derivatives, currency, commodities trading as well as mutual funds, competing head-on with giants like Upstox.
Key factors behind Zerodha's meteoric rise are its user-friendly trading platforms, robust technology, and innovations like the Kite connect API and console that appeal to tech-savvy millennial investors. The firm's transparency and flat fee structure have struck a chord with customers when most incumbents followed convoluted pricing models.
Entering the hallowed unicorn club in 2020 with a billion-dollar valuation, this bootstrapped startup's story serves as inspiration for numerous fintech and consumer internet companies mushrooming in India. With many competitors now catching up in terms of product features, Zerodha will need to take its innovation game a notch higher to maintain its leadership position. The company needs to keep evolving offerings that are tailored to an increasingly demanding Indian investor community that now expects superior tools and transparency.
You can read a detailed comparison between zerodha and upstox here Zerodha vs Upstox detailed review
Fyers overview
Fyers is an Innovative Stock Broker Propelling Investors to New Heights. With the digitization of the financial sector in India, online stock and commodity trading have witnessed an unprecedented boom over the last decade. A particularly noteworthy player enabling this revolution is Fyers (short for 'Focus Your Energy and Reform Yourself'), an innovative discount brokerage firm incorporated in 2015.
Led by a young, dynamic founding team comprising brothers Tejas Khoday, Yashas Khoday and Rajesh Khoday, Fyers has rapidly emerged as one of the most sought-after broking platforms in the country. The company's cutting-edge proprietary trading platform and sleek mobile apps packed with powerful features have especially struck a chord with tech-savvy millennials and Gen Z investors across metros and Tier 2/3 cities.
According to industry estimates, Fyers currently serves over 5 lakh active clients with a daily turnover exceeding ₹3000 crores across equity, futures and options, currency derivatives as well as commodities trading. The company's robust and scalable back-end infrastructure has reliably managed peak loads of over 3 lakh concurrent users without any glitches.
With an intuitive interface, margin calculator, advanced charting and over 100 technical indicators, the Fyers trading platform empowers investors to analyze market trends, identify trading opportunities and easily execute complex strategies like iron condors or straddles even from their smartphones. Add-ons like Fyers Bots which support algorithmic trading makes it a versatile platform even for active intraday traders aiming to automate their strategies.
Besides ease-of-use, Fyers also stands out with its transparent pricing and truly ‘zero brokerage’ plans. By adopting lean operations and harnessing technology, the company manages to offer cost arbitrage of 30-70% compared to traditional brokers. With monthly plans starting at just ₹20, Fyers has opened up quality broking services to a much wider retail investor base.
As India ushers in an era of responsible investing with regulators emphasizing investor education, Fyers too has stepped up efforts on this front. Its knowledge portal ‘Fyers School of Stocks’ is packed with stock market primers, trading strategy guides and personal finance resources for newbie investors. Through this content and active social media engagement, the brand continues to foster financial literacy.
With a progressive mindset, customer-centric approach and hunger for innovation, team Fyers seems well-poised to continue disrupting status quo in the stock broking space. As it charts exponential growth in coming years, this tech-led brokerage firm certainly merits the attention of every Indian retail stock market investor looking to maximize value.
You can read a detailed review of fyers in this blog post Fyers Detailed review
Zerodha vs Fyers account opening process
Both of these brokers have online and offline account opening process. If your adhar is linked with mobile number, account opening process in completely online in both zerodha and fyers.
Zerodha vs Fyers account opening charges
Fyers is currently running a free account opening process. You can open a fyers trading and demat account for free in this promotion period. Befor this offer, account opening charge was Rs.400+GST.
In zerodha, account opening charge is Rs.200 for equity and Rs. 100 for commodity segment.
Zerodha vs Fyers annual maintainance charge
Both in zerodha and fyers, annual maintenance charge for trading account is free. Demat account annual maintenance charge is Rs. 300 per year.
In fyers, there is a promo offer running now, where you can get AMC completely free now. They have extended it for some more months. They may stop this free amc offer anytime.
Zerodha vs Fyers Brokerage charges
Brokerage charges in both zerodha and fyers are almost same. Both are discount brokers and maximu brokerage is caped at Rs.20.
| ZERODHA | FYERS | |
|---|---|---|
| Equity Intraday | 0.03% or Rs. 20 whichever is smaller per order | 0.03% or Rs. 20 whichever is smaller per order |
| Future | 0.03% or Rs. 20 whichever is smaller per order | 0.03% or Rs. 20 whichever is smaller per order |
| Option | Rs.20 per order | Rs. 20 per order |
Call and trade and auto square off charges
Call and trade charge in zerodha is Rs. 50 and Fyers is Rs. 20. Another major difference is in auto square off charge which is Rs.50 in zerodha and Rs.20 in fyers.
Margin in zerodha and fyers
Margin in both zerodha and fyers is similar after new SEBI margin rule. Margins reduced to 50 % of VAR+ELM in march 2021. I will change to 100% of VAR+ELM once new SEBI margin rules are fully implemented. You can check exact margin in zerodha margin calculator page for zerodha and fyers margin calculator for fyers. You will get margin details of equity, F&O, commodity and currency segments there.
Zerodha vs Fyers : Trading platform comparison
Zerodha's web trading platform is Kite and mobile application is kite mobile. Both have very simple and user friendly interface. Their desktop trading platform in pi. I have explained more about them in our previous posts.
As I said before fyers have some of the best trading platforms available among brokers in India. Fyers web platform in developed based on tradingview platform. You can see many advanced features there. Chart is from tradingview. All drawing tools and indicators are available there. You can also find some unique features like dom there, which I have explained in our youtube video. They are improving it and bringing new features as per traders suggestions.
Fyers recently launched their mobile trading application recently. You can read a detailed review of it here
Fyers mobile trading app detailed review
Fyers desktop trading platform is fyers one.
Both this broker have technologically advanced trading platforms. Zerodha kite is known for its simplicity and user friendly interface. Fyers web have a lot more advanced features for traders.
Fyers 30 day challenge vs Zerodha 60 day challenge
| Zerodha 6 day challenge | Fyers 30 day challenge | |
|---|---|---|
| Duration | 60 day | 30 day |
| Borokerage Refund | No | Yes |
| Certificate | Yes | Yes |
Zerodha vs Fyers other tools and features
Now we will discuss some other features of zerodha and fyers
Zerodha small case vs fyers thematic investing
Both zerodha and fyers have thematic investment platforms. Fyers recently launched an updated version of its thematic investment platform. Thematic Investment is an investment platforms that focuses on a top down investment approach with predefined macroeconomic themes that can be used to pick out valuable investment opportunities.
Direct mutual fund platforms
Both zerodha and fyers have mutual fund platforms which support buying of direct mutual funds. Zerodha mutual fund platform is called zerodha coin. Fyers direct mutual fund platform is called fyers direct.
You can read more about direct mutual funds, its advantages and about fyers direct in this blog post Fyers direct - Direct mutual fund platform review.
Zerodha have algo trading platform called streak (semi automated ). Sensibull is an option analysis tool by zerodha.
Fyers API vs Zerodha API
API is free in fyers. Fyers offers a powerful set of APIs to bring automated trading and investing capabilities to your platform or application. With Fyers APIs, you can enable real-time order execution, algorithmic trading strategies, portfolio management, historical data access, market quotes and more - completely free of cost.
Whether you are an individual developer, startup or enterprise looking to integrate trading and investing functionality, Fyers APIs open up a world of possibilities. Specifically, retail traders and developers building algo-trading systems, robots or platforms will find immense value. The key functionalities offered include order placement across segments like equity, F&O and currencies, order management, portfolio views, scrip information, historical ticks data, streaming quotes and market depth among others.
Unlike traditional brokerage APIs, Fyers has been designed ground-up to serve the needs of algorithmic and high-frequency traders in India. You get dedicated APIs tailored for automated trading, ultra-low latency systems, dedicated hosting solutions and capabilities to handle high order volumes that retail broker APIs cannot match. Fyers also offers paper trading capabilities to test your strategies in real market environments before going live.
So if you have been looking to take your trading platform ideation to execution without complex integration or spending big bucks, Fyers API is your answer. With the trust of over 24 lakh customers, robust systems and dedicated developer support, it provides the most dependable foundation to build innovative platforms and solutions on. Get onboard the Fyers developer platform for free today and unlock the world of algorithm-based trading in India!
Zerodha charges a monthly fee for API. Zerodha Kite Connect APIs are available for retail users as well as startups. For retail users, the charges are ₹ 2000 per app each month. An additional ₹2000 is charged to opt for historical API.
Conclusion
In summary, Zerodha edges past Fyers in many aspects. However, for active traders, Fyers is also a top contender with its fast trading interface. Choosing between the two depends ultimately on an investor's specific trading requirements.
These are the main points I had to mention in this comparison. For more detailed explanations, I have given links of perevious blog posts.
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