Fyers Franchise Review: Is Fyers Worth Your Time And Investment?
Fyers Franchise Overview
‘Fyers broking franchise’ is a very well-known discount broker based in India. It is essentially based out of Bangalore. It has been reviewed as ‘the best online trading broking service’, which provides a transparent and smooth trading experience.
Furthermore, Fyers (which stands for ‘Focus Your Energy and Reform The Self’) is among the cheapest online stock brokers in India. It offers advanced trading technology for the clients. In this Fyers franchise review, it is also important to note that what adds to the platform’s popularity is the ease with which you can register on it. Once you get on board, you can find your way to trading easily.
Founded in 2015, Fyers is a low-brokerage stock broker in India and a ‘Wealthy Advisory Firm’ of young and different entrepreneurs. They are a vanguard of change and alteration in the stock market, providing clear insights to traders once they join the platform.
Providing a revolutionary trading platform, Fyers renders a cutting edge trading experience once you start trading. They do not have proprietary trading and therefore, are a full brokerage firm that lets you operate with low operational costs and no additional extras.
Fyers not only helps traders with trading by providing them a trading platform. It also helps brokers by creating a sub-broker account. Fyers is a multi-purpose platform which offers ease of access to its existing and forthcoming clients.
Use Of Fyers Today
In this Fyers Franchise Review, it is important to understand what adds to Fyers popularity.
Fyers is popular because of its ease of access. It is also popular because of its legitimacy and low operational fee. Finally, it is popular because of its usability and the three different types of trading models that it offers (all which have been discussed below).
Fyers Market Share
Fyers follows a simple business model. It has a simple sub-broker model which is called the ‘Fyers Referral Program’ or the ‘Fyers Sub-Broker model’. The company has 5/10 overall rating on its market share. The ratings are not bad and are expected to rise in the coming time.
Furthermore, keeping in mind that Fyers is a relatively new platform and so popular, there is no doubt to not believe in its success and that its market share will also rise in the forthcoming time.
Fyers Franchise Types
Fyers offers three types of sub-brokerships. One is the sub-broker, the second is the business partner option and the third is the authorized person option.
You can also start earning as a Fyers sub-broker and the process of becoming one is also fairly simple. To become one, you first need to have considerable knowledge about the current stock-broking industry.
To become a Fyers Sub-Broker, follow the steps below:
- Open an account at Demat and then open an account with Fyers
- Submit all KYC documents according to the checklist provided
- After submitting all documents, an executive from FYERS will perform an IPV (either online or in person. They may use a web camera)
- There will also be a person verification which will be quite mandatory when you open a trading account at Fyers
- Once you are done with the personal verification and the account opening form plus when documents are sent for processing, your trading account will open at Fyers.
Other documents that you will need for registering yourself at Fyers as a sub broker include identify proof, age proof, address proof, bank details via a ‘cancelled cheque’ and passport size photographs.
Fyers Business Partner Option
Fyers business partner option simply involves you registering yourself as a business with the entity. You will be able to do business as a stock broking franchise on Fyers as a result and as per their policy, share brokerage commissions with them, as agreed mutually.
Fyers Authorized Person Option
Fyers authorized person option is similar to the business partner option. In business, you register as a business and in authorized person option, you register as an authorized person and share commissions based on mutual agreement. Fyers authorized person option is when you get authority to do business as an authorized person on the exchange. This helps the authorized person get recognition and allows them to create an identity and work independently to create a name for themselves and operate as a sole entity on the platform.
Fyers Revenue Sharing Model
Fyers offers three types of trading platforms including Fyers Web Trader, Fyers One (Trading Terminal) and Fyers Market (Mobile Trading App).
Fyers has a 30:70 revenue sharing model. This means that they allow the sub broker to keep 30% of the brokerage generated. However, their revenue model is expected to go up to 40:60. The sharing model might be a little biased but they charge quite low on their brokerage. For instance, they just take 0.01 and 0.10 for intraday trading or Rs. 20 flat, which is close to nothing. Keeping their brokerage low, they tend to extract the revenue from their sub brokers. They do this to encourage new clients. Furthermore, they don’t charge for their Demat account opening, providing cheap and quality services.
Fyers revenue sharing model has a 7.5/10 rating which is fairly decent.
Fyers Trading Options
You can trade in various options at Fyers including equity trading, commodity trading, future trading, currency trading, option trading, systematic investment plan, futures, depositary services, options and mutual funds. With these products, you can enjoy a decent return on investment. Fyers does not deal in Forex, insurance or banking.
Advantages Of Trading At Fyers
Fyers provides you with free trading on equity and it prevents you from paying for brokerage on trading. It offers accurate data and is very transparent in its operations. Furthermore, you can transfer your funds very easily through Fyer. This includes different payment measures and many ways of transferring funds online as well. Fyers offers quick operations with very low latency.
Registering At Fyers
Registering at Fyers is fairly easy. It offers both a stock trading account and Demat account services. Customers pay the fee commission and taxes when they trade with Fyers.
You can open a free ‘demat’ account which encourages online trading at zero cost. The company offers world class trading platforms a transparent platform and zero brokerage fees.
To open an account, you need to fill the form online. You will have to enter the needed KYC and trading account requirements. The next step is to upload the documents (scanned copies of the required documents) and finally, you need to e-sign your applications which can be done by using the “Aadhar OTPs”.
To open an account with Fyers, you need to pay an annual Demat account opening charges (AMC) – which has a yearly fee of Rs. 400, annual maintenance charges of Rs. 300 but the costs of opening are fairly negligible. The cost of trading in equity intraday, equity futures, equity options, and currency futures and so on is Rs. 20 per execution. There are other certain charges that you need to pay but the charges are low. These include charges such as (Rs. 100 per certificate and so on).
The process of registering at Fyers is fairly easy and you do not need much to get started on trading at the platform.
Fyers seems to be a very inviting platform for traders and brokers a like. It offers transparency which is uncommon on many trading platforms. Fyers offers a chance for young minded individuals to join and showcase their talent in trading and broking. Furthermore, registering at the platform is also very easy and simple, hence and therefore, it doesn’t require much to get you started on the platform. In platforms where the registration platform is hefty, traders shy away naturally. However, Fyers offers a chance for individuals to get on board immediately and an automatic incentive to make money. Fyers has a zero security deposit. It is a fast trading platform that allows trading on most segments. It provides good wealth management advisory and is safe for trading.