FYERS

[Mukr]

20 rs flat per trade, free equity delivery and full brokerage refund if you win the 30 day challenge..so,i don't see any problem.It will not immensely effect my trading with that brokerage .. when people can accept high brokerage changes to lower whats the problem when it was increased. .Like it or dislike it their is no such thing as free lunch for brokers or traders ..it can only make brokers to improve on their side such as implementing new features,stability of data and more productive service..so i have no problem increase 0.01 to 0.03 since 20 rs is capped.

 

[AMIT PANDEY]

20 rs flat per trade, free equity delivery and full brokerage refund if you win the 30 day challenge..so,i don't see any problem.It will not immensely effect my trading with that brokerage .. when people can accept high brokerage changes to lower whats the problem when it was increased. .Like it or dislike it their is no such thing as free lunch for brokers or traders ..it can only make brokers to improve on their side such as implementing new features,stability of data and more productive service..so i have no problem increase 0.01 to 0.03 since 20 rs is capped.

you don't have problem doesn't mean that nobody else has problem. think from point of view of small trader, trader who uses BO mostly, trader who exits at multiple level, trader who scalp in small quantities etc . brokerage is one of the major reason because of which traders are moving from full service broker to discount broker espically new and small traders. If these discount broker start increasing thier brokerage then where will these trader will go. Hope you will understand it.

 

[Tejas Khoday]

I am not surprised that some people have raised an issue with the minimum brokerage because you are not looking at the other side of the coin. Please note that we have fixed costs and many times, the costs are much higher than the brokerage itself. For a long time, we have been subsidizing the cost of micro trades even though the infra utilization is higher than the amount we charge per trade. However, considering the changing environment, the brokerage charges must justify the investments we make in the future. If you are on the other side, running the brokerage, you will realize the enormous costs we undertake in technology, human resources, compliance & ops to make it happen. We're charging a small minimum fee to ensure that we can maintain quality going forward. During the lockdown when most brokers have faced untold issues, support desks were not operational, many stopped services altogether, some even went bankrupt, we continued to operate without any hindrances or issues. I have published all this in our recent notice.

Having said that, why are you worried? We are openly offering a brokerage refund if you win the 30 Day Challenge. Take the challenge and win. You can effectively trade without brokerage charges.

Good luck.

 

[Tejas Khoday]

Latest blog post on Brainstorm - FYERS Ties Up with TrueData

FYERS is harnessing the fast-growing Systematic/Algo trading ecosystem in India. Our launch of free Trading APIs and API Bridge brought a great response from our clients. Therefore, to take our agenda of providing preferred access to Algo trading and reliable data feeds to the trading fraternity further, we have tied up with TrueData, the leading data vendor in the country.

 

[superman]

Tejas, this is quite a shocking and impactful change.
I am not talking about the 0.03% - That was bound to change. Slowly everyone will change it to say 0.05%
I am talking about minimum brokerage of 7rs per order if i get that right !

We are going back to old ways of Geojit, Kotak etc. Off course the minimum amount is less than 20rs or something they used to charge! . Min brokerage was the signature mark of traditional full fledge brokers and you have just made yourself that.

You effectively have moved out from discount brokerage category and have upgraded yourself. Whether this is a good move or not only time can tell. Guess now you will now have a clientele of F&O , Delivery , HIgh ticket size intraday customers.

Scalping , Low ticket size customers will surely go somewhere else.

 

[kaly422000]

as i think this step of introducing minimum brokarage for intraday cash will encourage other discount broker to go to the same way. any way in that case if u intro delivery trade brokerage to .1 or if some lower wud be better . zerodha increased slightly as they have maximum no of clients. .03 will not be a matter but if u rethink about minimum brokarage wud be better. nowadays traders has many account and they will trade where they will get maximum benefit. fyers has introduced amc charge and increased brokarage too at the same time. this step may creat doubt about fyers. this is just my view. i think max clients engaged in intraday cash trade

 

[AMIT PANDEY]

I am not surprised that some people have raised an issue with the minimum brokerage because you are not looking at the other side of the coin. Please note that we have fixed costs and many times, the costs are much higher than the brokerage itself. For a long time, we have been subsidizing the cost of micro trades even though the infra utilization is higher than the amount we charge per trade. However, considering the changing environment, the brokerage charges must justify the investments we make in the future. If you are on the other side, running the brokerage, you will realize the enormous costs we undertake in technology, human resources, compliance & ops to make it happen. We're charging a small minimum fee to ensure that we can maintain quality going forward. During the lockdown when most brokers have faced untold issues, support desks were not operational, many stopped services altogether, some even went bankrupt, we continued to operate without any hindrances or issues. I have published all this in our recent notice.

Having said that, why are you worried? We are openly offering a brokerage refund if you win the 30 Day Challenge. Take the challenge and win. You can effectively trade without brokerage charges.

Good luck.

Tejas sir how easily you are saying that win the 30 days challenge get the brokerage refund. but in reality how many trader wins the challenge? Trader who are profitable are not going to effected by it much firstly bcz of 30 days challenge and secondly they mostly trade in FNO segment and/or in large quantities natuarlly generating RS.20/-brokerage on each trade.
Only the small trader ,new trader, loss making trader, who is testing strategies in real market with small qty, trader you use to enter and exit at multiple levels in small quantities, trader using BO mostly are going to effect.
So i please request you to atleast remove that RS.7/- minimum brokerage for equity trader and make the brokerage structure simple again.

 

[Bro]

7rs is very less fees for experiments and market studying , that you are doing on a wonderful platform. It can't stay 1 rs for the end of the world. Come to senses guys. Stock market learning is an expensive practise for a trader. Because it rewards too well. So just be ready to spend some to get a large some. Don't think it all as negative as it may seem. Also we as the other gentleman said , Its never going to be a geojit or kotak era. We have options. If you need zero brokerage , we have finvasia for example. So if we are following Fyers, then the reason is never about brokerage . Plus they allow you to earn the brokerage back.

 

[sumosanammain]

Fyers has one of the best charting tools, that they offer free of cost. I say this with experience of more than 18 years of online trading and a decade more of offline trading.
As Tejas said, even under lockdown, their Technical Team went out of the way to solve a tech issue in a friends Computer. That too, they arranged for a whatsApp call, as there was no mobile range at my friends place.
As someone mentioned, testing a system, is an expensive process. This 7 rs might make you more diligent in testing thoroughly before deployment.

 

[sumosanammain]

By tying up with Truedata, they have taken their game up by one more notch. Kapil is a very good friend, and I can vouch for the quality of service that Truedata provides.