When choosing a stockbroker, traders and investors often compare Zerodha and Fyers, two of India’s leading discount brokers. While both offer competitive brokerage rates and feature-rich trading platforms, they differ in various aspects such as charges, services, and trading tools.
In this comparison, we will analyze Zerodha vs Fyers based on brokerage fees, account charges, trading platforms, features, and more to help you make an informed decision.
About Zerodha
Zerodha is India’s largest and most reputed discount stock broker. Founded in 2010, it offers trading across Equity, Currency, Commodity, IPO, Futures & Options, Bonds, Government Securities, and Direct Mutual Funds.
- Brokerage: Rs 0 for equity delivery and direct mutual funds. Intraday and F&O charges are Rs 20 or 0.03% per trade (whichever is lower).
- Exchange Membership: NSE, BSE, MCX, NCDEX
- Branches: 22 across India
- Trading Platforms: Kite Web, Kite Mobile, Coin
- Leverage: Up to 5x for intraday trading
About Fyers
Founded in 2015, Fyers is a Bangalore-based discount stock broker known for its innovative trading platforms and transparency.
- Brokerage: Rs 0 for equity delivery, Rs 20 or 0.03% per trade for intraday and F&O.
- Exchange Membership: BSE, NSE, MCX
- Branches: 2 across India
- Trading Platforms: Fyers App, Fyers Web, Fyers Next
- Leverage: Up to 5x for intraday trading
Zerodha Vs Fyers: Key Comparisons
Account Opening & AMC Charges
| Feature | Zerodha | Fyers |
|---|---|---|
| Trading Account Opening Charges | Rs 0 | Rs 0 (Free) |
| Trading Account AMC Charges | Rs 0 | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 | Rs 0 (Free) |
| Demat Account AMC Charges | Rs 300 | Rs 0 (Free AMC for Lifetime) |
Brokerage Charges
| Account Type | Zerodha | Fyers |
|---|---|---|
| Equity Delivery | Rs 0 | 0.03% or Rs 20, whichever is lower |
| Equity Intraday | Rs 20 or 0.03% per trade | 0.03% or Rs 20, whichever is lower |
| Equity Futures | Rs 20 or 0.03% per trade | 0.03% or Rs 20, whichever is lower |
| Equity Options | Rs 20 per executed order | Rs 20 per executed order |
| Currency Futures | Rs 20 or 0.03% per trade | 0.03% or Rs 20, whichever is lower |
| Currency Options | Rs 20 per executed order | Rs 20 per executed order |
| Commodity Futures | Rs 20 or 0.03% per trade | 0.03% or Rs 20, whichever is lower |
| Commodity Options | Rs 20 per executed order | Rs 20 per executed order |
Margin (Leverage)
| Feature | Zerodha | Fyers |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Up to 5x | Up to 5x |
| F&O, Currency, Commodity | 1x | 1x |
Trading Platforms & Features
| Feature | Zerodha | Fyers |
|---|---|---|
| Trading Platforms | Kite Web, Kite Mobile, Coin | Fyers App, Fyers Web, Fyers Next |
| 3-in-1 Account | No | Yes |
| Automated Trading | Yes | Yes |
| SMS Alerts | No | Yes |
| Online Portfolio | No | Yes |
| API for Algo Trading | Yes | Yes |
Pros & Cons
Zerodha
Pros:
- Free account opening for under-25 investors.
- India’s largest broker by active clients and trading volume.
- Flat fee brokerage with free equity delivery.
- Excellent trading platforms (Kite Web & Mobile).
- Offers direct mutual funds and GTT orders.
Cons:
- No stock tips, research, or recommendations.
- Call & Trade charges Rs 50 per order.
- No unlimited monthly trading plans.
Fyers
Pros:
- Free account opening and no AMC charges.
- Low brokerage (maximum Rs 20 per trade).
- Advanced trading platforms with API trading.
- Referral program with lifetime earnings.
Cons:
- Fewer research and analysis tools.
- Customer service ratings are lower than Zerodha.
- No 3-in-1 account.
Who Should Choose What?
| Investor Type | Zerodha | Fyers |
|---|---|---|
| Casual Investor | Yes | No |
| Active Investor | Yes | Yes |
| Trader | Yes | Yes |
Final Verdict
- Choose Zerodha if you are looking for a well-established broker with a robust trading platform and free direct mutual funds.
- Choose Fyers if you prefer a cost-effective broker with free AMC, thematic investments, and API trading features.
