Overview
Fyers
Fyers is a discount broker that caters primarily to active traders and technical analysts. It has quickly gained a reputation for its advanced charting tools and seamless trading experience. Fyers supports trading in equities, derivatives, and commodities, offering zero brokerage for delivery trades and a flat fee for intraday and F&O trading.
Upstox
Upstox is another leading discount broker in India, backed by prominent investors like Ratan Tata. It offers a user-friendly platform with a focus on affordability and accessibility. It provides trading services across multiple segments, including equities, commodities, and currencies, with a flat brokerage fee for all trades.
Comparison Table
| Criteria | Fyers | Upstox |
|---|---|---|
| Platform & Interface | Clean, intuitive, designed for in-depth technical analysis. | Simple, fast, and user-friendly, suitable for all levels of traders. |
| Charting Tools | Advanced charting with over 65 indicators, multi-chart views, and multiple timeframes. | Decent charting tools, sufficient for most traders but less advanced than Fyers. |
| Order Types | Supports cover orders, bracket orders, and after-market orders. | Similar order types as Fyers, with additional focus on speed and efficiency. |
| Brokerage Fees | ₹20 per trade for intraday & F&O; zero brokerage on delivery trades. | ₹20 per trade for intraday & F&O; zero brokerage on delivery trades. |
| Product Offerings | Equities, derivatives, and commodities; lacks mutual funds and digital gold. | Equities, commodities, currencies, and digital gold; also offers mutual funds via a separate platform. |
| API for Algo Trading | Robust API for algorithmic trading, ideal for advanced traders. | Available API, suitable for those looking to implement algo trading strategies. |
| Mobile App | Powerful mobile app with advanced features and smooth performance. | Lightweight, fast, and efficient mobile app, popular among retail traders. |
| Customer Support | Responsive, but can experience delays during peak trading times. | Good support with multiple channels, but some users report occasional delays. |
| Additional Features | Zero brokerage for delivery trades, advanced charting, strong API. | Multiple investment options including digital gold and mutual funds, strong focus on mobile trading. |
| Research & Insights | Limited research tools, more focused on technical analysis and charting. | Provides basic research reports and market insights, sufficient for general traders. |
| Target Audience | Best for active traders, technical analysts, and day traders. | Suitable for a wide range of traders, from beginners to those looking for cost-effective trading solutions. |
Key Takeaways: When to Choose Fyers or Upstox
When to Choose Fyers:
- You’re an active or technical trader: Fyers’ platform is designed with advanced charting and analytical tools that cater to traders who rely heavily on technical analysis.
- You want robust algo trading capabilities: Fyers offers a powerful API for algorithmic trading, making it a great choice for those who need custom trading strategies.
- You prefer a focus on core trading activities: Fyers is ideal for traders who want a platform focused on trading essentials without additional features like mutual funds or digital gold.
When to Choose Upstox:
- You’re looking for an affordable and accessible trading platform: Upstox is known for its ease of use and low costs, making it suitable for beginners and casual traders.
- You want a broader range of investment options: Upstox offers access to digital gold and mutual funds, alongside traditional trading options, making it a versatile choice for investors who want to diversify.
- You prefer mobile trading: Upstox’s mobile app is particularly strong, providing a fast and efficient trading experience on the go, which is ideal for traders who prefer or need mobile access.
