Anand Rathi vs FYERS Securities

A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.

Anand Rathi
Anand Rathi
Full-Service Broker · since 1994
VS
FYERS Securities
Discount Broker · since 2015
FYERS Securities

Anand Rathi vs FYERS Securities — quick verdict

Choose Anand Rathi if

You want research and offline support

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Choose FYERS Securities if

You want low-cost, self-directed trading

Built for Those Who Are Born to Trade.

Company overview

Anand Rathi is a full-service broker incorporated in 1994; FYERS Securities is a discount broker incorporated in 2015.

ParameterAnand RathiFYERS Securities
Type of broker Full-Service Broker Discount Broker
Exchange membership NSE · BSE · MCX · NCDEX · MSEI NSE · BSE · MCX
Year of incorporation 1994 older 2015
Number of branches 1,200+ wider 98+
Active clients 6 Lakh+ 10 Lakh+ larger

Charges & AMC

Account-opening and maintenance charges for Anand Rathi and FYERS Securities compared side by side.

ParameterAnand RathiFYERS Securities
Trading a/c opening ₹0 (Online) ₹0
Trading a/c AMC ₹0 ₹0
Demat a/c opening ₹0 ₹0
Demat a/c AMC ₹450 + GST per year ₹0 lower
DP charges (per ISIN, sell) ₹15.93 per debit transaction (including GST) ₹12.5 + GST per ISIN on sell transactions lower

Brokerage charges

How Anand Rathi and FYERS Securities price each trading segment, per executed order.

ParameterAnand RathiFYERS Securities
Equity Delivery 0.30% ₹0 (Free)
Equity Intraday 0.03% ₹20 or 0.03% per executed order (whichever is lower)
Equity Futures 0.03% ₹20 or 0.03% per executed order (whichever is lower)
Equity Options ₹20 per executed order ₹20 per executed order
Currency F&O 0.03% ₹20 or 0.03% per executed order (whichever is lower)
Commodity F&O 0.03% ₹20 or 0.03% per executed order (whichever is lower)
Call & Trade ₹20 per executed order ₹50 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by Anand Rathi and FYERS Securities, per segment.

ParameterAnand RathiFYERS Securities
Equity Delivery NSE: 0.00297% • BSE: 0.00375% NSE: 0.00297% • BSE: 0.00375%
Equity Intraday NSE: 0.00297% • BSE: 0.00375% NSE: 0.00297% • BSE: 0.00375%
Equity Futures NSE: 0.00173% NSE: 0.00173%
Equity Options NSE: 0.03503% (on premium) NSE: 0.03503% (on premium)
Currency Futures NSE: 0.00035% NSE: 0.00035%
Currency Options NSE: 0.03110% (on premium) NSE: 0.03110% (on premium)
Commodity Futures MCX: 0.00210% MCX: 0.00210%
Commodity Options MCX: 0.04180% (on premium) MCX: 0.04180% (on premium)

Demat & DP charges

Depository (demat) charges for Anand Rathi and FYERS Securities — AMC, debit transactions, pledging and remat.

ParameterAnand RathiFYERS Securities
Demat Account Opening ₹0 ₹0
Annual Maintenance Charges (AMC) ₹450 + GST per year ₹0
Debit Transaction Charges ₹15.93 per debit transaction (including GST) ₹12.5 + GST per ISIN on sell transactions
Pledge / Unpledge Charges ₹25 + GST per request ₹12.5 + GST per ISIN
Dematerialisation (Demat) ₹150 per certificate + GST ₹150 per certificate + GST
Rematerialisation (Remat) ₹150 per certificate + GST ₹150 per certificate + GST
Failed Transactions Nil Nil

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by Anand Rathi and FYERS Securities.

ParameterAnand RathiFYERS Securities
Equity Delivery 100% of trade value (1x) 100% of trade value (1x)
Equity Intraday VAR + ELM Margin (Up to 5x*) VAR + ELM Margin (Up to 5x*)
Equity Futures SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)
Equity Options (Buy) Premium Value (Not Applicable) Premium Value (Not Applicable)
Equity Options (Sell) SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)
Currency Futures & Options SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)
Commodity Futures & Options SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (As per available margin)

Features & account

Account type and feature availability across Anand Rathi and FYERS Securities.

ParameterAnand RathiFYERS Securities
3-in-1 account ✕ No ✕ No
Automated / API trading ✓ Yes ✓ Yes
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✓ Yes better ✕ No
Trading platforms AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop FYERS Web, FYERS Mobile App, FYERS One
Intraday square-off 3:15 PM 3:15 PM
Other Research Reports, Trading Calls, Advanced Charting, Option Chain, Basket Orders, Price Alerts, eDIS, Margin Trading Facility (MTF), PMS, AIF, Wealth Management TradingView Charts, Free Trading API, Algo Trading, Option Chain, Basket Orders, Market Scanner, Advanced Charting, Price Alerts, eDIS, Margin Trading Facility (MTF)

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by Anand Rathi and FYERS Securities.

ParameterAnand RathiFYERS Securities
Trading platforms offered AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop FYERS Web, FYERS Mobile App, FYERS One
Number of platforms 3 3
Platforms (summary) AR Invest Web, AR Invest Mobile App, Anand Rathi Trade Mobi / Desktop FYERS Web, FYERS Mobile App, FYERS One
Mobile / desktop apps Web, Mobile, Desktop Web, Mobile, Desktop

User ratings

User ratings for Anand Rathi and FYERS Securities across the key parameters.

Rated onAnand RathiFYERS Securities
Fees 4.1 4.9 better
Brokerage 4.2 4.9 better
Trading platform 4.5 4.9 better
Customer service 4.6 better 4.4
Research 4.8 better 4.2
Overall 4.4 4.7 better

Investment options

Which investment products Anand Rathi and FYERS Securities let you access.

ParameterAnand RathiFYERS Securities
Stocks / Equity ✓ Yes ✓ Yes
Commodity ✓ Yes ✓ Yes
IPO ✓ Yes ✓ Yes
Mutual Funds ✓ Yes ✓ Yes
Bonds / NCD ✓ Yes ✓ Yes

Order types offered

Advanced order types supported by Anand Rathi and FYERS Securities.

ParameterAnand RathiFYERS Securities
Bracket Order ✓ Yes better ✕ No
Cover Order ✓ Yes better ✕ No
BTST ✓ Yes ✓ Yes
After Market (AMO) ✓ Yes ✓ Yes
GTC / GTT ✕ No ✓ Yes better

Safety & credibility

SEBI registration, financial strength and complaint record for Anand Rathi and FYERS Securities.

ParameterAnand RathiFYERS Securities
SEBI registration INZ000170832 INZ000166137
NSE member code 09280 12768
Year of incorporation 1994 longer track record 2015
Net worth ₹2,300+ Cr stronger ₹1,348+ Cr
Exchange memberships NSE · BSE · MCX · NCDEX · MSEI NSE · BSE · MCX
Latest complaint ratio 0.003% 0.002% fewer complaints

Complaints record

Exchange complaint data for Anand Rathi and FYERS Securities — the ratio matters more than the raw count.

ParameterAnand RathiFYERS Securities
Latest financial year 2025–26 2025–26
Exchange NSE NSE
Active clients 6,48,217 10,87,436 larger base
Complaints filed 22 —
Complaint ratio 0.003% 0.002% fewer complaints

Pros & cons

The main advantages and drawbacks of each broker.

Anand Rathi

▲ Pros

  • ✓ Strong equity and commodity research with expert advisory.
  • ✓ Comprehensive wealth management and investment solutions.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, AIFs, and insurance.
  • ✓ Large nationwide branch and relationship manager network.
  • ✓ Advanced web, mobile, and desktop trading platforms.
  • ✓ Personalized investment recommendations for retail and HNI clients.

▼ Cons

  • ✕ Brokerage charges are generally higher than discount brokers.
  • ✕ Annual Demat AMC is applicable.
  • ✕ Advanced wealth management services are primarily targeted at premium clients.
  • ✕ Call & Trade charges may apply.
  • ✕ Frequent traders may find discount brokers more economical.
FYERS Securities

▲ Pros

  • ✓ Zero brokerage on Equity Delivery.
  • ✓ TradingView-powered advanced charting.
  • ✓ Free API access for algorithmic trading.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, and ETFs.
  • ✓ Fully digital and paperless account opening.
  • ✓ Powerful web and mobile trading platforms with advanced order types.

▼ Cons

  • ✕ No physical branch network comparable to full-service brokers.
  • ✕ Research and advisory services are limited.
  • ✕ Call & Trade service is chargeable.
  • ✕ Margin availability depends on SEBI peak margin regulations.
  • ✕ Beginners may find the advanced trading interface slightly complex.
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Compare FYERS Securities with

FYERS Securities vs Zerodha FYERS Securities vs Angel One FYERS Securities vs Upstox FYERS Securities vs Groww FYERS Securities vs ICICI Direct FYERS Securities vs Kotak Neo FYERS Securities vs HDFC Securities FYERS Securities vs SBI Securities FYERS Securities vs Motilal Oswal FYERS Securities vs Paytm Money FYERS Securities vs Mirae Asset Sharekhan FYERS Securities vs Axis Direct FYERS Securities vs 5paisa FYERS Securities vs Choice Broking FYERS Securities vs m.Stock FYERS Securities vs Sahi FYERS Securities vs SMC Global FYERS Securities vs Jainam Broking Limited
Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.