Zerodha vs Fyers
Zerodha and Fyers both serve active traders through flat-fee discount models, but Fyers has positioned itself around TradingView-integrated charting and a developer-friendly API as primary differentiators. Zerodha was founded in 2010 and is India’s largest retail broker. Fyers Securities Private Limited was incorporated in 2015 by Tejas Khoday and Shreyas Khoday and focuses on traders who prioritise advanced charting and algorithmic trading capabilities.
Data reflects May 2026; verify current charges at zerodha.com/charges and fyers.in/pricing before transacting.
Background
Fyers was founded in Bengaluru in 2015 with an explicit focus on the active trading community. The firm built its platform around TradingView charts from an early stage, preceding several larger competitors who adopted TradingView integration later. Fyers provides a REST API (Fyers API v3) and has cultivated a developer community around algorithmic trading. NSE active client data placed Fyers at approximately 0.3 to 0.7 million active clients in late 2024.
Brokerage charges
| Charge head | Zerodha | Fyers |
|---|---|---|
| Equity delivery | Zero | Zero |
| Equity intraday | Rs 20 or 0.03% | Rs 20 flat |
| Equity futures | Rs 20 or 0.03% | Rs 20 flat |
| Equity options | Rs 20 flat | Rs 20 flat |
| Currency futures | Rs 20 or 0.03% | Rs 20 flat |
| Commodity (MCX) | Rs 20 or 0.03% | Rs 20 flat |
| Account opening | Zero | Zero |
| Demat AMC | Rs 300/year | Rs 0 (as of 2024) |
| Call-and-trade | Rs 50/order | Not offered |
Fyers waived its demat AMC. Per-order brokerage is identical on active segments.
Platform and charting
Fyers’ primary platform, Fyers One, integrates TradingView charting natively on web and mobile. This gives users access to TradingView’s full indicator library, drawing tools, and multi-timeframe analysis. Fyers One also includes a market scanner, options chain, and multi-leg strategy builder.
Zerodha’s Kite uses ChartIQ-based charts. ChartIQ is a professional charting engine used by major institutional platforms globally, with over 100 indicators. However, TradingView’s broader indicator library and user-contributed scripts are not available in Kite. For traders who rely on TradingView indicators or community-contributed scripts, Fyers’ native TradingView integration is a substantive platform advantage.
API access
Zerodha’s Kite Connect charges Rs 2,000 per month and has the largest open-source community and library set (Python, Node.js, Java, R) among Indian retail broker APIs.
Fyers API v3 is free of charge and provides order management, market data, and historical data. Fyers also maintains Python and JavaScript SDKs. For traders building algorithmic strategies who want to avoid the Rs 2,000 monthly API cost, Fyers is a relevant option.
Mutual funds
Fyers introduced mutual fund investing in 2023, offering direct-plan funds within the Fyers platform at no additional charge. Zerodha’s Coin charges Rs 50 per month after year one.
Regulatory standing
Fyers is registered with SEBI as a stockbroker and depository participant (CDSL). SEBI SCORES data for recent quarters reflects Fyers’ smaller client base. The firm has not been the subject of major SEBI enforcement actions as of May 2026.
Summary comparison table
| Dimension | Zerodha | Fyers |
|---|---|---|
| Founded | 2010 | 2015 |
| Headquarters | Bengaluru | Bengaluru |
| NSE active clients (approx.) | ~7 million | ~0.3-0.7 million |
| Delivery brokerage | Zero | Zero |
| Intraday brokerage | Rs 20 or 0.03% | Rs 20 flat |
| Options brokerage | Rs 20 flat | Rs 20 flat |
| Demat AMC | Rs 300/year | Zero |
| Charting | ChartIQ (100+ indicators) | TradingView (native) |
| API | Kite Connect (Rs 2,000/mo) | Fyers API v3 (free) |
| Mutual funds | Coin (Rs 50/mo after yr 1) | Free, direct |
See also
- Zerodha
- Zerodha vs Dhan
- Zerodha vs Upstox
- Best broker for intraday in India
- Discount brokers in India
- Indian retail brokers comparison
References
- Zerodha charge schedule. zerodha.com/charges (accessed May 2026).
- Fyers pricing. fyers.in/pricing (accessed May 2026).
- NSE active client data. nseindia.com (accessed May 2026).
- Fyers API documentation. myapi.fyers.in (accessed May 2026).
- SEBI SCORES grievance data, Q3 FY 2025. sebi.gov.in.