Upstox vs Fyers | Broker Comparison

Upstox vs Fyers

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

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...

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 ...

Side-by-Side Compare Table

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

Detailed Comparison

Basic Details

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

Charges & AMC

Upstox	Fyers
•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	•Trading and Demat Account Opening: Rs 0 •Trading AMC: Rs 0 (lifetime as stated) •Demat AMC: Rs 0 (lifetime as stated)

Brokerage

Upstox	Fyers
•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	•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

Other Charges

Upstox	Fyers
•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	•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.

Leverage (Margin)

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

Features

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

Trading Platforms

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

Reviews & Ratings

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

Investment Options

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

Order Types Offered

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

Suitable For (Investor Type)

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

Pros and Cons

Upstox	Fyers
•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.	•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.

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.