FYERS Securities is a Bangalore based discount broker, offering trade in Equity cash, F&O and Currency Derivatives segments at NSE,BSE and MCX. Being incorporated in 2015, the firm focuses on providing services at low brokerage rates. In fact, FYERS is an acronym of “Focus Your Energy & Reform the Self” which reflects the values of the company. This organization is built by young entrepreneurs with a belief of providing the best trading platform with lowest possible cost of trading in India.
The simple pricing model by FYERS offers trade among different segments for a standard brokerage fee of maximum ₹20 per executed order. Irrespective of the size of order, FYERS charge a maximum of ₹20 per executed order. There are no brokerage fees charged by FYERS in the Equity Delivery segment. Moreover, a variety of other services like in-house build web trading platform, installable desktop trading terminal and mobile trading app, are provided free to the customers. The broker moved to a free investment zone in 2018, by offering Free Equity Delivery trade.
Thematic Investing by FYERS
A new way of investment in stocks has been introduced by FYERS called “Thematic Investing” which is all about investing in ideas. Money is invested in a group of stocks related to that idea rather than choosing individual stocks. Hundreds of portfolios are offered by FYERS to invest in the stock market. Exchange Traded Funds (ETF’s) is the closest comparison of thematic investment. Thematic investment has a little edge over ETF’s as the broker or fund manager identifies the companies to invest in a theme.
Working of Thematic Investing
1. A set of themes representing ideas is provided by the broker.
2. List of companies matching the theme is identified by the broker. Each theme has a number of stocks.
3. Investment is made by the investor after choosing a theme.
4. As per the proposition identified in the theme, the broker invests money in individual stocks.
i. Free usage of themes for FYERS customers. Only brokerage has to be paid at a regular price by the customers.
ii. Buying and selling of themes through a single click.
iii. Availability of more than 100 themes.
iv. Less than 20 stocks in a theme.
v. Almost 1500 stocks are covered.
FYERS 30 Days Challenge
FYERS have this unique product called “FYERS 30 Day Challenge” as per which if a trader is in a profitable position at the end of 30 days period, then he will be eligible to get complete return of the brokerage he paid during that period. Earlier the challenge was available only on BSE and NSE but recently, FYERS securities incorporated MCX as well under FYERS 30 days challenge. In addition, they have a referral program where traders can earn 20% of brokerage generated by clients referred by the existing customers.
Advantages of FYERS
i. Free equity delivery trading is offered by FYERS which means they don’t charge any brokerage for cash and carry trades.
ii. The brokerage rate charged by FYERS is ultra-low. Flat ₹20 per trade brokerage is charged across all the trading segments without considering the size of the trade.
iii. Quick implementation of new features and services through in-house build trading platform.
iv. Referral plan helps to earn 20% of the revenue generated by the referred friend for life time.
v. Investment opportunities in group of stocks through Thematic Investing.
vi. Transparency in fee charging i.e. there are no hidden charges.
vii. Availability of trading software’s that too completely free.
Disadvantages of FYERS
i. Higher exchange transaction charges in comparison to other discount brokers.
ii. Lack of professional team for market analysis.
iii. Depository Services are not provided.
iv. FYERS does not provide commodity trading services.
FYERS is providing a fresh and technically sound online platform free of cost, along with relatively inexpensive costs. Though the visuals and functions might look similar, this terminal is way better in comparison to other terminals in terms of stock testing. A 100% free trading platform with zero account opening charges makes clients to just open get their Demat account opened and start trading.
Derivative contracts which are going to expire in the current month are called ‘Near Month Contracts’, those which expire next month are called ‘Next Month Contracts’ and those which expire after the month are called ‘Far Month Contracts’.
When a customer places an order over the phone through a dealer, Fyers charge an additional ₹20 as Call & Trade Fee. Being an online stock broker, it prefers that the customer uses its online trading platform to execute orders. All trading software including an installable trading terminal, website and mobile application are made available free of charge to customers.
It is a facility that enables the investor to carry forward his/her futures positions beyond the expiry of contract. Basically, it’s a two-legged transaction. In the first leg the investor needs to square off the near month position, subsequently in the second leg he/she will have to take a fresh position in the same direction in the next or far month.
Fyers API Bridge is designed for Algo Trading. With this API, clients can develop and execute their trading strategies using their choice of 3rd party trading platform or design their own trading software.
This cycle refers to the period in which the buyer and seller of shares settle their obligation to each other. In India, we follow the T+2 settlement cycle. So, if the transaction takes place on Monday, the settlement will be done on the second trading day, which is Wednesday, if the transaction takes place on Tuesday, the settlement will take place on Thursday, so on and so forth.
Minimum margin is the margin amount that the investor should have allocated towards the open positions. If the minimum margin level is breached, the system will automatically block further funds. In case an investor does not have sufficient funds in his/her account, the position will be squared off.