FYERS Securities vs SBI Securities

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

FYERS Securities
FYERS Securities
Discount Broker · since 2015
VS
SBI Securities
Full-Service Broker · since 2006
SBI Securities

FYERS Securities vs SBI Securities — quick verdict

Choose FYERS Securities if

You want low-cost, self-directed trading

Built for Those Who Are Born to Trade.

Choose SBI Securities if

You want research and offline support

Investing Made Easy.

Company overview

FYERS Securities is a discount broker incorporated in 2015; SBI Securities is a full-service broker incorporated in 2006.

ParameterFYERS SecuritiesSBI Securities
Type of broker Discount Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX
Year of incorporation 2015 2006 older
Number of branches 98+ 1,000+ SBI Investor Service Centres & Ba wider
Active clients 10 Lakh+ ~13.7 lakh larger

Charges & AMC

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

ParameterFYERS SecuritiesSBI Securities
Trading a/c opening ₹0 ₹0 (Free)
Trading a/c AMC ₹0 ₹0 (Free)
Demat a/c opening ₹0 ₹0 (Free)
Demat a/c AMC ₹0 ₹0 (Free for the first year), thereafter as per applicable tariff plan
DP charges (per ISIN, sell) ₹12.5 + GST per ISIN on sell transactions lower ₹15.34 per debit transaction

Brokerage charges

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

ParameterFYERS SecuritiesSBI Securities
Equity Delivery ₹0 (Free) 0.50%
Equity Intraday ₹20 or 0.03% per executed order (whichever is lower) 0.05%
Equity Futures ₹20 or 0.03% per executed order (whichever is lower) 0.05%
Equity Options ₹20 per executed order ₹50 per executed order
Currency F&O ₹20 or 0.03% per executed order (whichever is lower) 0.05%
Commodity F&O ₹20 or 0.03% per executed order (whichever is lower) 0.05%
Call & Trade ₹50 per executed order ₹50 per executed order

Transaction charges (exchange turnover)

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

ParameterFYERS SecuritiesSBI Securities
Equity Delivery NSE: 0.00297% • BSE: 0.00375% NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Intraday NSE: 0.00297% • BSE: 0.00375% NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Futures NSE: 0.00173% NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%)
Equity Options NSE: 0.03503% (on premium) NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%)
Currency Futures NSE: 0.00035% NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%)
Currency Options NSE: 0.03110% (on premium) NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%)
Commodity Futures MCX: 0.00210% MCX ₹260 per Cr (0.00260%)
Commodity Options MCX: 0.04180% (on premium) MCX ₹5,000 per Cr (0.05%)

Demat & DP charges

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

ParameterFYERS SecuritiesSBI Securities
Demat Account Opening ₹0 ₹0 (Free)
Annual Maintenance Charges (AMC) ₹0 ₹0 (First Year), thereafter as per tariff
Debit Transaction Charges ₹12.5 + GST per ISIN on sell transactions —
Pledge / Unpledge Charges ₹12.5 + GST per ISIN —
Dematerialisation (Demat) ₹150 per certificate + GST —
Rematerialisation (Remat) ₹150 per certificate + GST —
Failed Transactions Nil Nil
Transaction Charges (Sell) — ₹15.34 per debit transaction
Pledge Creation / Invocation — ₹25 + GST per request
Remat — ₹25 per certificate + applicable charges

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by FYERS Securities and SBI Securities.

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

Features & account

Account type and feature availability across FYERS Securities and SBI Securities.

ParameterFYERS SecuritiesSBI Securities
3-in-1 account ✕ No ✓ Yes better
Automated / API trading ✓ Yes better ✕ No
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✕ No ✓ Yes better
Trading platforms FYERS Web, FYERS Mobile App, FYERS One SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Intraday square-off 3:15 PM 3:15 PM
Other TradingView Charts, Free Trading API, Algo Trading, Option Chain, Basket Orders, Market Scanner, Advanced Charting, Price Alerts, eDIS, Margin Trading Facility (MTF) 3-in-1 account, MTF, research reports, IPO investment, mutual funds, ETFs and fixed-income products.

Trading platforms & apps

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

ParameterFYERS SecuritiesSBI Securities
Trading platforms offered FYERS Web, FYERS Mobile App, FYERS One SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Number of platforms 3 3
Platforms (summary) FYERS Web, FYERS Mobile App, FYERS One SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Mobile / desktop apps Web, Mobile, Desktop Web, Mobile, Desktop

User ratings

User ratings for FYERS Securities and SBI Securities across the key parameters.

Rated onFYERS SecuritiesSBI Securities
Fees 4.9 better 4.2
Brokerage 4.9 better 4.2
Trading platform 4.9 better 4.3
Customer service 4.4 4.4
Research 4.2 4.5 better
Overall 4.7 better 4.3

Investment options

Which investment products FYERS Securities and SBI Securities let you access.

ParameterFYERS SecuritiesSBI 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 FYERS Securities and SBI Securities.

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

Safety & credibility

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

ParameterFYERS SecuritiesSBI Securities
SEBI registration INZ000166137 INZ000200032
NSE member code 12768 13018
Year of incorporation 2015 2006 longer track record
Net worth ₹1,348+ Cr stronger ₹1,000+ Cr
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX
Latest complaint ratio 0.002% fewer complaints 0.088%

Complaints record

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

ParameterFYERS SecuritiesSBI Securities
Latest financial year 2025–26 2025-26
Exchange NSE NSE
Active clients 10,87,436 13,69,945 larger base
Complaints filed — 1,208
Complaint ratio 0.002% fewer complaints 0.088%

Pros & cons

The main advantages and drawbacks of each broker.

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.
SBI Securities

▲ Pros

  • ✓ Integrated 3-in-1 account with SBI Bank.
  • ✓ Trusted SBI Group full-service broker.
  • ✓ Comprehensive equity research and investment recommendations.
  • ✓ Trade in Stocks, F&O, IPOs, Mutual Funds, ETFs and Bonds.
  • ✓ Advanced web and mobile trading platforms.
  • ✓ Margin Trading Facility (MTF) available.
  • ✓ Wide branch network and customer support.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Demat AMC may apply after the promotional period.
  • ✕ Call & Trade service is chargeable.
  • ✕ Advanced trading tools are limited compared to some competitors.
  • ✕ Certain services and brokerage plans have eligibility conditions.
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Explore more comparisons

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Compare SBI Securities with

SBI Securities vs Zerodha SBI Securities vs Angel One SBI Securities vs Upstox SBI Securities vs Groww SBI Securities vs ICICI Direct SBI Securities vs Kotak Neo SBI Securities vs HDFC Securities SBI Securities vs Motilal Oswal SBI Securities vs Paytm Money SBI Securities vs Mirae Asset Sharekhan SBI Securities vs Axis Direct SBI Securities vs 5paisa SBI Securities vs Choice Broking SBI Securities vs m.Stock SBI Securities vs Sahi SBI Securities vs SMC Global SBI Securities vs Anand Rathi SBI 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.