Upstox Vs Fyers, Brokerages Charges, Mobile & Trading Platform
It might be confusing to choose between two discount brokers. But our comprehensive comparison between Upstox and FYERS will help you to choose the best.
Major Difference between Upstox Vs Fyers
Everybody would want their brokerage firm to provide unmatched services at lowest rates coupled with high speed trading platform for seamless trading experience.
A side by side comparison might help to unveil the best among the two and thereby help the traders to take an informed decision.
Well, if you are wondering which one suits you best, then analyse the comparison and match it with your trading objective and risk appetite.
Both Upstox and FYERS are popular discount brokers in the country that offers a flat fees of Rs 20 for trading. The charge of Rs 20 per trade is irrespective of trade volumes.
They both have their own set of advantages and offerings which should be considered while choosing the right one for you.
Upstox vs FYERS:- A Completed Overview
| Upstox | Fyers | |
| Year of Establishment | 2012 | 2015 |
| Broker Typ | Discount Broker | Discount Broker |
| Valid Exchanges | BSE, NSE and MCX | NSE and MCX |
| Number of Branches | 4 | NIL |
| Head Office | Sunshine Tower, 30th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400013 | No. 19, 20, 3rd Main, Gandhinagar, Bangalore – 560009 |
| URL | Upstox.com | Fyers.in |
Upstox vs FYERS:- Account Opening Charges
When it comes to account opening fees, demat account opening charges and AMC; both Upstox and FYERS charges their client more or less similarly with not much of a difference.
Let’s have a comparative look.
| Upstox | FYERS | |
| Trading A/C opening charges | Rs 249/- | Rs 400/- |
| Trading A/C AMC | FREE | FREE |
| Demat A/C opening charges | FREE | FREE |
| Demat A/C AMC | Rs 300/- | Rs 300/- |
Brokerage Plans and charges of Upstox Vs Fyers
There are various plans that these brokerage firms offer to their clients and not all are comparable. We have picked up certain plans from both Upstox and FYERS to give a clear picture on their fees.
| Upstox | Fyers | |
| Plan Type | Upstox Basic | Flat Brokerage Plan |
| Equity Delivery | FREE | FREE |
| Equity Intraday | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order or 0.03% whichever is lower |
| Equity Futures | ||
| Equity Options | Rs 20 per executed order | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order or 0.03% whichever is lower |
| Currency Options | Rs 20 per executed order | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order or 0.03% whichever is lower |
| Commodity Options | Rs 20 per executed order | Rs 20 per executed order |
FYERS charges Rs 7 or 2.5% (whichever is lower) for intraday, whereas Upstox’s minimum brokerage charge is 0.05%. For call and trade, you will be charged Rs 20 per executed order both in Upstox and FYERS.
Upstox vs FYERS : Transaction Charges
| FYERS | Upstox | |
| Equity Delivery | Rs 325 per Cr (0.00325%) | NSE Rs 325 per Cr (0.00325%)(each side) |
| Equity Intraday | ||
| Equity Futures | Rs 240 per Cr (0.0024%) | NSE Rs 210 per Cr (0.0021%) |
| Equity Options | Rs 5900 per Cr (0.059) (on premium) | NSE Rs 5500 per Cr (0.055%) (on premium) |
| Currency Futures | Rs 240 per Cr (0.0024%) | NSE Rs 130 per Cr (0.0013%); BSE Rs 26 per Cr (0.00026%) |
| Currency Options | Rs 5900 per Cr (0.059%) (on premium) | NSE Rs 2900 per Cr (0.029%); BSE Rs 2600 per Cr (0.026%) (on premium) |
| Commodity | NA | Group A : Rs 290 per Cr (0.0029%) |
Margins comparison of Upstox & Fyers
| FYERS | Upstox Basic Plan | |
| Margins for Intraday | ||
| NSE / BSE Cash | Upto 16X | 15X |
| Index Futures | 4X | 3X |
| Stock Futures | 4X | 3X |
| Index Option | 4X | 3X |
| Stock Option | 4X | 3X |
| NSE Currency | 2.5X | 4X |
| MCX Futures | NA | 2.5X |
| NSE / BSE Cash | Does not disclose upfront. You need to use BO & CO margin calculator |
20X |
| Index Futures | 20X | |
| Stock Futures | 5X | |
| Index Option Sell | 3X | |
| Stock Option Sell | 3X | |
| NSE Currency | 4X | |
| MCX Futures | 3X | |
| NSE Option Buy | 1.33X |
Fyers vs Upstox : Main Features of Discount Broking
While Upstox offers a host of versions as per its client’s preference, FYERS doesn’t have much option to offer other than FYERS One, their in-house build trading platform.
Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola trading software are the ones offered by Upstox.
| Fyers | Upstox | |
| Trading Platform | FYERS One, Web, App, Direct, API, API Bridge | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola |
| 3 in 1 Account | No | Yes |
| Charting | Yes | Yes |
| SMS Alerts | No | No |
| Automated Trading | Yes | No |
| Online Demo | No | Yes |
| Online Portfolio | Yes | No |
| Availability of Margin Trading Funding | No | No |
| Margin Against Shares (Equity Cash) | No | Yes |
| Margin Against Shares (Equity F&O) | Yes | |
| Referral Program | Yes | Yes |
| Time for Intraday square-off | 3:20 PM | 3:15 PM |
FYERS vs Upstox : Investment Options
| Fyers | Upstox | |
| Stocks / Equities | Yes | Yes |
| Commodity | Yes | Yes |
| IPOs | No | Yes |
| Mutual Funds | No | Yes |
| Bond / NCD | No | No |
| Debt | No | No |
Please note that, neither FYERS nor Upstox provide daily market reports to their clients. News alerts, Quarterly results, and free tips are also not shared among their subscribers.
FYERS vs Upstox : Customer Support
| Fyers | Upstox | |
| Dedicated Dealer | No | No |
| Offline Trading | No | No |
| Online Trading | Yes | Yes |
| 24 / 7 Support | No | No |
| Email Support | Yes | Yes |
| Chat Support | No | No |
| Toll Free Number | No | No |
FYERS vs Upstox : Pros and Cons
Let’s first look into the pros of FYERS and Upstox.
| Fyers | Upstox |
| Free equity delivery trades along with thematic investments. Absolutely no brokerage charged for this segment | Basic plan offers brokerage free trading in Equity Delivery segment |
| In-house developed trading platform is available for free and provides seamless trading experience | No brokerage for equity delivery trades |
| Flat fee of upto Rs 20/- charged for each trade undertaken | Trading software for mobile and web trading app is free of any charges |
| Referring your friends can help you earn 20% of the revenues generated by them, for life | Advance orders including AMO, CO and BO are available |
| Under “30 day challenge” one stands a good chance to get 100% refund on the brokerage | Margin Against Share and Trailing-Stop/Stop- Loss (SL) are available to all |
| Pricing structure across all platform is reasonable and competitive |
MFs are available for investment |
| Good number of technical analysis tools are available that can help traders to gain insights before trading | Higher leverage is available under different brokerage plan |
| Online IPO, FPO, Bonds and NCDs are available |
Now the cons of both the brokerage firms are given below.
| Fyers | Upstox |
| Depository services are offered through IL&FS with higher demat charges. | No margin funding |
| It has no branch offices | Unlimited monthly plans not available |
| No GTC orders | Call & Trade attracts additional fees |
| MF investment option isn’t available | Additional fee for square off done by the broker |
| Through FYERS platform one cannot invest in bonds and insurance | Higher demat debit transaction charges |
| The customer care numbers aren’t toll free and the calls are chargeable | Stock tips, Research reports or Recommendations aren’t provided |
| FYERS doesn’t have NRI trading facilities | Doesn’t offer NRI Trading and Demat Account |
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