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Zerodha vs Fyers - A detailed comparison

Zerodha vs Fyers

 Zerodha and fyers are discount stock brokers in India. Zerodha is number one broker in terms of customer base. Fyers is one of the fastest growing discount broker. We will try to compare zerodha and fyers based on brokerage and other charges, trading platform and other features.


Zerodha overview

Zerodha is India's no.1 stock broker, founded in 15th August 2010 by brothers Nithin Kamath and Nikhil Kamath. Zerodha is head quartered in Bangalore, Karnataka. In June 2020, Zerodha entered the unicorn club with a self-assessed valuation of about $1 billion. 

Their services include Equity trading, Derivatives trading, Currency trading, Commodity trading , Mutual funds.

You can read a detailed comparison between zerodha and upstox here Zerodha vs Upstox detailed review

Fyers overview

Fyers is a discount broker incorporated in 2015. Fyers have one of the best trading platforms available in India.

Fyers is acronym of focus your energy and reform yourself. It was founded by 3 brothers, Tejas Khoday and Yashas Khoday.

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 first quarter (3 months) AMC completely free.  

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

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 run 60 day challenge and fyers have 30 day challenge for its treders. You have to be in net profit in this period to win this challenge. Main difference between fyers 30 day challenge and zerodha 60 day challenge  are,



Zerodha  60 day challenge

Fyers 30 day challenge

Duration

60 day

30 days

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. 

API is free in fyers. Zerodha charges a monthly fee for API.

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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