Fyers Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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I deposited $10,000 at the beginning. When my balance was higher than $55,000, I had to verify my email but I could not receive the code when it remained unavailable. Please help me.
Fyers, a Bangalore-based discount broker, has rapidly gained popularity in the Indian trading landscape since its inception in 2015. This review synthesizes various user experiences and expert opinions on Fyers, highlighting its strengths and weaknesses along with key features that define its service. Notably, Fyers offers zero brokerage on equity delivery, a flat fee structure for other trades, and a range of advanced trading platforms.
Note: The performance and features of Fyers may vary depending on the region and specific trading needs. This review aims to provide a balanced perspective based on diverse sources to ensure fairness and accuracy.
How We Rate Brokers: Ratings are derived from a comprehensive analysis of user feedback, expert reviews, and factual data regarding the broker's offerings.
Fyers was founded by the Khoday brothers and has positioned itself as a technology-driven discount broker. With a focus on providing low-cost trading options, Fyers allows users to trade across various segments, including equities, derivatives, and currencies. The broker is regulated by the Securities and Exchange Board of India (SEBI) and is a member of the NSE and BSE, ensuring compliance with the highest standards in the industry.
Fyers offers a suite of trading platforms, including the Fyers One desktop application, a mobile app, and a web-based platform. Each platform is equipped with advanced features, catering to the needs of both casual investors and professional traders.
Fyers operates primarily in India and is regulated under SEBI, ensuring that it adheres to the guidelines set for stock brokers in the country. This regulation provides a layer of security for users, as it mandates compliance with operational standards.
Fyers supports transactions in Indian Rupees (INR). Users can deposit funds using various methods, including UPI, NEFT, RTGS, and online banking. Notably, Fyers does not charge for fund transfers, making it a cost-effective option for traders.
Fyers does not impose a minimum deposit requirement, which is particularly appealing for beginner traders looking to start with smaller amounts.
Fyers currently offers several promotions, including free equity delivery trading and a flat brokerage fee of ₹20 for intraday and derivatives trades. Additionally, the "Fyers 30 Days Challenge" allows traders to earn back their brokerage fees if they remain profitable for 30 consecutive days.
Fyers provides access to a wide range of asset classes, including:
Fyers has a transparent fee structure:
Additional costs include transaction fees, STT, and GST, which are standard across the industry.
Fyers offers competitive leverage options, allowing up to 16x exposure for intraday trades, which can significantly enhance trading potential. However, users should be cautious as higher leverage also increases the risk of substantial losses.
Fyers supports multiple trading platforms:
Currently, Fyers primarily serves Indian residents and does not offer services to international clients, which may limit access for Non-Resident Indians (NRIs) in certain trading segments.
Fyers primarily offers customer support in English and Hindi, accessible via phone and email. However, some users have reported delays in response times and challenges in reaching customer service, indicating room for improvement in this area.
In conclusion, Fyers presents a compelling option for traders seeking low-cost and efficient trading solutions. However, potential users should weigh the pros and cons, especially regarding customer service and platform reliability, before making a decision. The Fyers review indicates that while the broker has made significant strides, there are areas that require attention for continued growth and user satisfaction.
