Zerodha vs Fyers | Broker Comparison

Zerodha vs Fyers

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

Zerodha

Zerodha

Active Clients: 68,62,233

Zerodha holds the position of India's top stockbroker, ranking among the largest and most esteemed brokers providing online **flat fee discount brokerage** services for investments in Equity, Currency, Commodity, IPO,...

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	Zerodha	Fyers
Basic Details	•Broker Type: Discount broker •Founded: 2010	•Broker Type: Discount broker •Founded: 2015
Charges & AMC	•Trading and Demat Account Opening: Rs 0 •Trading AMC: Rs 0	•Trading and Demat Account Opening: Rs 0 •Trading AMC: Rs 0 (lifetime as stated)
Brokerage	•Equity Delivery: Rs 0 •Equity Intraday: Flat Rs 20 or 0.03% (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	•Statutory charges apply across segments: STT, exchange charges, GST, SEBI charges, stamp duty. •DP and depository-side transactional charges apply for applicable sell-side delivery flows.	•Call and Trade: additional charge (referenced as Rs 50/order) •Admin square-off charges may apply for auto close positions.
Leverage (Margin)	•Intraday leverage can go up to around 20x in selected contexts. •Margin remains subject to segment-wise risk and exchange rules.	•Margin products include MTF offerings in promotional messaging. •Practical leverage and margin depend on segment, risk, and exchange norms.
Features	•Market-leading client base and volume share. •Transparent flat-fee pricing model.	•In-house built trading stack. •Insta Options for strategy building and payoff analysis.
Trading Platforms	•Zerodha Kite (web and mobile) •Coin (mutual funds)	•Fyers App (mobile) •Fyers Web
Reviews & Ratings	•Widely regarded as one of the top discount brokers in India. •In this extract, no single combined numeric rating table is displayed.	•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, limit, and intraday order flows •Derivatives execution and strategy-linked tools via ecosystem partners	•Standard equity and derivatives order types •Intraday and delivery order handling
Suitable For (Investor Type)	•Investors seeking transparent low brokerage and direct MF investing. •Active traders preferring robust charting/tool ecosystem.	•Active traders focused on low brokerage and platform tools. •Users who prefer in-house charting and options strategy interfaces.
Pros and Cons	•Pros: •Zero delivery brokerage and low flat intraday/F&O fees.	•Pros: •Very competitive flat-fee structure.

Detailed Comparison

Basic Details

Zerodha	Fyers
•Broker Type: Discount broker •Founded: 2010 •SEBI Registration: INZ000031633 •NSE Member Code: 13906 •Net Worth: Rs 14374.75 Cr	•Broker Type: Discount broker •Founded: 2015 •SEBI Registration: INZ000008524 •NSE Member Code: 90061 •Net Worth: Rs 175.61 Cr

Charges & AMC

Zerodha	Fyers
•Trading and Demat Account Opening: Rs 0 •Trading AMC: Rs 0 •Demat AMC: Rs 300 per year	•Trading and Demat Account Opening: Rs 0 •Trading AMC: Rs 0 (lifetime as stated) •Demat AMC: Rs 0 (lifetime as stated)

Brokerage

Zerodha	Fyers
•Equity Delivery: Rs 0 •Equity Intraday: Flat Rs 20 or 0.03% (whichever is lower) •Equity Futures: Flat Rs 20 or 0.03% (whichever is lower) •Equity Options: Flat Rs 20 per executed order •Mutual Funds (direct): Rs 0	•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

Zerodha	Fyers
•Statutory charges apply across segments: STT, exchange charges, GST, SEBI charges, stamp duty. •DP and depository-side transactional charges apply for applicable sell-side delivery flows.	•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)

Zerodha	Fyers
•Intraday leverage can go up to around 20x in selected contexts. •Margin remains subject to segment-wise risk and exchange rules.	•Margin products include MTF offerings in promotional messaging. •Practical leverage and margin depend on segment, risk, and exchange norms.

Features

Zerodha	Fyers
•Market-leading client base and volume share. •Transparent flat-fee pricing model. •Strong ecosystem: Kite, Coin, Varsity, and partner tools.	•In-house built trading stack. •Insta Options for strategy building and payoff analysis. •Low-cost fixed brokerage proposition.

Trading Platforms

Zerodha	Fyers
•Zerodha Kite (web and mobile) •Coin (mutual funds) •Ecosystem tools: Streak, Sensibull, Smallcase, and more	•Fyers App (mobile) •Fyers Web •Fyers One desktop terminal

Reviews & Ratings

Zerodha	Fyers
•Widely regarded as one of the top discount brokers in India. •In this extract, no single combined numeric rating table is displayed.	•Marketed as a low-brokerage technology-first platform. •In this source extract, a single numeric overall rating is not prominently presented.

Investment Options

Zerodha	Fyers
•Equity •F&O •Currency and commodity •IPO, bonds, G-Secs •Direct mutual funds	•Equity cash •F&O •Currency derivatives •Mutual funds (direct)

Order Types Offered

Zerodha	Fyers
•Standard market, limit, and intraday order flows •Derivatives execution and strategy-linked tools via ecosystem partners	•Standard equity and derivatives order types •Intraday and delivery order handling •Option strategy workflow through Insta Options tools

Suitable For (Investor Type)

Zerodha	Fyers
•Investors seeking transparent low brokerage and direct MF investing. •Active traders preferring robust charting/tool ecosystem. •Beginners and advanced users due to education plus platform depth.	•Active traders focused on low brokerage and platform tools. •Users who prefer in-house charting and options strategy interfaces.

Pros and Cons

Zerodha	Fyers
•Pros: •Zero delivery brokerage and low flat intraday/F&O fees. •Strong product ecosystem and technology maturity. •Trusted and transparent pricing structure. •Cons: •No branch-heavy assisted full-service model. •Some advanced workflows rely on external integrated tools.	•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.