Fyers vs Upstox | Broker Comparison

Fyers vs Upstox

Side-by-side view of features, pricing context, and platform fit.

Fyers

Fyers

Active Clients: 2,00,780

Established in 2015, Fyers Securities is a Bangalore-based online discount stock brokerage firm. Fyers facilitates trading in Equity Cash, F&O, and Currency Derivatives segments. The term FYERS stands for "Focus Your ...

Upstox

Upstox

Active Clients: 20,36,413

Upstox is a technologically advanced low-cost brokerage firm in India, offering trading services in equities, commodities, currency, futures, and options via web and mobile platforms. Upstox has received investment fr...

Side-by-Side Compare Table

Category	Fyers	Upstox
Basic Details	•Broker Type: Discount broker •Founded: 2015	•Broker Type: Discount broker •Founded: Legacy RKSV/Upstox retail broking entity
Charges & AMC	•Trading and Demat Account Opening: Rs 0 •Trading AMC: Rs 0 (lifetime as stated)	•Account Opening: Rs 0 •Demat AMC: Rs 150 per year (first-year concessions may apply in offers)
Brokerage	•Equity Delivery: Rs 20 or 0.03% (whichever is lower) •Equity Intraday: Rs 20 or 0.03% (whichever is lower)	•Equity Delivery: Rs 20 or 2.5% (whichever is lower) •Equity Intraday: Rs 20 or 0.05% (whichever is lower)
Other Charges	•Call and Trade: additional charge (referenced as Rs 50/order) •Admin square-off charges may apply for auto close positions.	•Call and Trade: Rs 20 per executed order •Instant money transfer fee and physical statement fees may apply
Leverage (Margin)	•Margin products include MTF offerings in promotional messaging. •Practical leverage and margin depend on segment, risk, and exchange norms.	•Margin/leverage is segment specific and governed by exchange/risk policies. •Delivery generally follows full margin and intraday can provide lower upfront margins.
Features	•In-house built trading stack. •Insta Options for strategy building and payoff analysis.	•Digital-first execution with mobile/web stack. •Strong derivatives support and low brokerage positioning.
Trading Platforms	•Fyers App (mobile) •Fyers Web	•Upstox Pro web platform •Upstox mobile app
Reviews & Ratings	•Marketed as a low-brokerage technology-first platform. •In this source extract, a single numeric overall rating is not prominently presented.	•Commonly viewed as low-cost, trader-friendly platform. •In this extract, no final single consolidated numeric rating table is shown.
Investment Options	•Equity cash •F&O	•Equity •F&O
Order Types Offered	•Standard equity and derivatives order types •Intraday and delivery order handling	•Standard market and limit orders •Delivery/intraday/F&O execution flows
Suitable For (Investor Type)	•Active traders focused on low brokerage and platform tools. •Users who prefer in-house charting and options strategy interfaces.	•Cost-sensitive active traders. •App-first users who want strong F&O workflow.
Pros and Cons	•Pros: •Very competitive flat-fee structure.	•Pros: •Competitive low-cost brokerage model.

Detailed Comparison

Basic Details

Fyers	Upstox
•Broker Type: Discount broker •Founded: 2015 •SEBI Registration: INZ000008524 •NSE Member Code: 90061 •Net Worth: Rs 175.61 Cr	•Broker Type: Discount broker •Founded: Legacy RKSV/Upstox retail broking entity •SEBI Registration: INZ000315837 •NSE Member Code: 13942 •Net Worth: Rs 839.83 Cr

Charges & AMC

Fyers	Upstox
•Trading and Demat Account Opening: Rs 0 •Trading AMC: Rs 0 (lifetime as stated) •Demat AMC: Rs 0 (lifetime as stated)	•Account Opening: Rs 0 •Demat AMC: Rs 150 per year (first-year concessions may apply in offers) •App/web platform model with low-cost pricing

Brokerage

Fyers	Upstox
•Equity Delivery: Rs 20 or 0.03% (whichever is lower) •Equity Intraday: Rs 20 or 0.03% (whichever is lower) •Futures: Rs 20 or 0.03% (whichever is lower) •Options: Flat Rs 20 per executed order	•Equity Delivery: Rs 20 or 2.5% (whichever is lower) •Equity Intraday: Rs 20 or 0.05% (whichever is lower) •Equity Futures: Rs 20 or 0.05% (whichever is lower) •Equity Options: Flat Rs 20 per order •Currency/Commodity: Similar low-cost flat-fee pattern as per segment tables

Other Charges

Fyers	Upstox
•Call and Trade: additional charge (referenced as Rs 50/order) •Admin square-off charges may apply for auto close positions. •Usual statutory charges apply across segments.	•Call and Trade: Rs 20 per executed order •Instant money transfer fee and physical statement fees may apply •DP sell charges and statutory charges are additional

Leverage (Margin)

Fyers	Upstox
•Margin products include MTF offerings in promotional messaging. •Practical leverage and margin depend on segment, risk, and exchange norms.	•Margin/leverage is segment specific and governed by exchange/risk policies. •Delivery generally follows full margin and intraday can provide lower upfront margins.

Features

Fyers	Upstox
•In-house built trading stack. •Insta Options for strategy building and payoff analysis. •Low-cost fixed brokerage proposition.	•Digital-first execution with mobile/web stack. •Strong derivatives support and low brokerage positioning. •Direct mutual fund access with zero commission.

Trading Platforms

Fyers	Upstox
•Fyers App (mobile) •Fyers Web •Fyers One desktop terminal	•Upstox Pro web platform •Upstox mobile app

Reviews & Ratings

Fyers	Upstox
•Marketed as a low-brokerage technology-first platform. •In this source extract, a single numeric overall rating is not prominently presented.	•Commonly viewed as low-cost, trader-friendly platform. •In this extract, no final single consolidated numeric rating table is shown.

Investment Options

Fyers	Upstox
•Equity cash •F&O •Currency derivatives •Mutual funds (direct)	•Equity •F&O •Commodity •Currency •Mutual funds

Order Types Offered

Fyers	Upstox
•Standard equity and derivatives order types •Intraday and delivery order handling •Option strategy workflow through Insta Options tools	•Standard market and limit orders •Delivery/intraday/F&O execution flows •Call-and-trade assisted execution

Suitable For (Investor Type)

Fyers	Upstox
•Active traders focused on low brokerage and platform tools. •Users who prefer in-house charting and options strategy interfaces.	•Cost-sensitive active traders. •App-first users who want strong F&O workflow. •Investors needing discount pricing across major segments.

Pros and Cons

Fyers	Upstox
•Pros: •Very competitive flat-fee structure. •Lifetime-free account opening and AMC in listed plan context. •Strong options/trader-focused tooling. •Cons: •Assisted channels (call and trade/admin square-off) add extra charges. •Product breadth is narrower than some full-service bank-backed brokers.	•Pros: •Competitive low-cost brokerage model. •Broad segment coverage across equity, derivatives, commodity, and currency. •Free account opening and strong digital onboarding. •Cons: •Assisted services add extra charges. •Some advanced full-service advisory expectations may not be met.

Final Note

Use this side-by-side comparison as a starting point and verify the latest brokerage and compliance details on official broker pages before taking decisions.