Fyers and Anand Rathi are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Fyers is listed as a Private Discount Broker , established in 2015 and headquartered in Bangalore, while Anand Rathi is listed as a Public Discount Broker , established in 1994 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Fyers or Anand Rathi is a better fit for your investment style, platform preference, and budget.
Fyers is listed as a Private Discount Broker established in 2015 with headquarters in Bangalore and founded by Tejas Khoday, Shreyas Khodey & Yashas Khodey. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access, web trading, desktop terminal access and algo trading support and promotes features such as watchlists, real-time updates, research reports, customised recommendations, stock tips and interactive charts. It follows a Standard Plan brokerage structure.
Anand Rathi is listed as a Public Discount Broker established in 1994 with headquarters in Mumbai and founded by Anand Rathi. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading, desktop terminal access and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips. Its brokerage model is structured as Standard Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Fyers vs Anand Rathi — A Comprehensive Company Overview
| Company Overview | Fyers | Anand Rathi |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Bangalore | Mumbai |
| Founder | Tejas Khoday, Shreyas Khodey & Yashas Khodey | Anand Rathi |
| Establishment Year | 2015 | 1994 |
| Brokerage Plan | Standard Plan | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Fyers and Anand Rathi.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Fyers charges Free while Anand Rathi charges 0.30% of Transaction Value.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Fyers charges Rs.20 per Trade or 0.03% (whichever is Low) while Anand Rathi charges 0.30% of Transaction Value.
Equity futures: This charge applies to futures contracts on stocks and indices. Fyers charges Rs.20 per Trade or 0.03% (whichever is low) while Anand Rathi charges 0.30% of Transaction Value.
Equity options: This charge applies to equity option contracts. Fyers charges Rs.20 per Trade while Anand Rathi charges Rs.50 per Lot.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Fyers charges Rs.20 per Trade or 0.03% (whichever is low) while Anand Rathi charges 0.03% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Fyers charges Rs.20 per Trade while Anand Rathi charges Rs.25 per Lot.
Currency futures: This charge allows participation in forex price movements on the exchange. Fyers charges Rs.20 per Trade or 0.03% (whichever is low) while Anand Rathi charges 0.03% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Fyers charges Rs.20 per Trade while Anand Rathi charges Rs.25 per Lot.
Fyers vs Anand Rathi — Detailed Brokerage Comparison
| Brokerage | Fyers | Anand Rathi |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Free | 0.30% of Transaction Value |
| Equity Intraday | Rs.20 per Trade or 0.03% (whichever is Low) | 0.30% of Transaction Value |
| Equity Future | Rs.20 per Trade or 0.03% (whichever is low) | 0.30% of Transaction Value |
| Equity Option | Rs.20 per Trade | Rs.50 per Lot |
| Commodity Future | Rs.20 per Trade or 0.03% (whichever is low) | 0.03% of Transaction Value |
| Commodity Option | Rs.20 per Trade | Rs.25 per Lot |
| Currency Future | Rs.20 per Trade or 0.03% (whichever is low) | 0.03% of Transaction Value |
| Currency Option | Rs.20 per Trade | Rs.25 per Lot |
Fyers provides mobile app access, web trading, desktop terminal access and algo trading support for order placement, portfolio tracking, and market monitoring. Anand Rathi provides mobile app access, web trading, desktop terminal access and algo trading support for its users.
Android app: Fyers and Anand Rathi both list an Android trading app.
iOS app: Fyers and Anand Rathi both list an iOS trading app.
Web trading platform: Fyers and Anand Rathi both list a web trading platform.
Desktop trading terminal: Fyers and Anand Rathi both list a desktop trading terminal.
Algo trading: Fyers and Anand Rathi both list algo trading support.
Basket trading: Fyers lists basket trading, while Anand Rathi does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Fyers and Anand Rathi both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Neither broker currently highlights a bonds investment platform.
Fyers vs Anand Rathi — Complete Comparison of Trading Platforms
| Trading Platform | Fyers | Anand Rathi |
|---|---|---|
| Android App | Fyers Android App Link | Anand Rathi Android App Link |
| iOS App | Fyers iOS App Link | Anand Rathi iOS App Link |
| Web Trading Platform | Fyers Web Trading Link | Anand Rathi Web Trading Link |
| Trading Terminal | Available | Available |
| Algo Trading Platform | Available | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | Available | NA |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | NA | NA |
Fyers highlights trading features including watchlists, real-time updates, research reports, customised recommendations, stock tips and interactive charts, while Anand Rathi promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Fyers and Anand Rathi offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Fyers and Anand Rathi offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Anand Rathi offers this; Fyers does not currently highlight it.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Anand Rathi offers this; Fyers does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Fyers and Anand Rathi offer this feature.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Fyers offers this; Anand Rathi does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both Fyers and Anand Rathi offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Fyers and Anand Rathi offer this feature.
Live market: Live updates on market movements and trends. Both Fyers and Anand Rathi offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Anand Rathi offers this; Fyers does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Fyers and Anand Rathi offer this feature.
Fyers vs Anand Rathi — Comprehensive Comparison of Trading Features
| Trading Feature | Fyers | Anand Rathi |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | No | Yes |
| Online MF Buy | No | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | No |
| Customised Recommendations | Yes | No |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | Yes |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Fyers and Anand Rathi.
Free account opening: Fyers and Anand Rathi both list free account opening.
Free AMC: Fyers and Anand Rathi both list free Demat AMC.
Free brokerage: Fyers lists free brokerage, while Anand Rathi does not currently mention it.
Flat brokerage: Fyers and Anand Rathi both list flat brokerage pricing.
Flexible brokerage plans: Anand Rathi lists flexible brokerage plans, while Fyers does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Fyers lists free delivery trading, while Anand Rathi does not currently mention it.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: Anand Rathi lists free research reports, while Fyers does not currently mention it.
Free trading calls: Anand Rathi lists free trading calls, while Fyers does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Fyers offers 20% of Revenue while Anand Rathi offers Rs.250 per Client for referrals.
Fyers vs Anand Rathi — Comparison of Latest Offers
| Offer | Fyers | Anand Rathi |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | Yes | Yes, Limited |
| Free Brokerage | Yes, Limited | No |
| Flat Brokerage | Yes | Yes |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | No | No |
| Free Delivery Trading | Yes | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | 20% of Revenue | Rs.250 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Fyers highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Anand Rathi highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, mutual funds, government bonds, foreign stocks, insurance and corporate bonds.
Fyers vs Anand Rathi — Complete Comparison of Products
| Product | Fyers | Anand Rathi |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | No | Yes |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | Yes |
| Corporate Bonds | No | Yes |
| Government Bonds | Yes | Yes |
| Digital Gold | No | No |
Demat services: Fyers and Anand Rathi both list Demat services.
Trading services: Fyers and Anand Rathi both list trading services.
Intraday services: Fyers and Anand Rathi both list intraday trading services.
F&O services: Fyers and Anand Rathi both list F&O services.
IPO services: Fyers and Anand Rathi both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Anand Rathi lists stock research, while Fyers does not currently mention it.
Stock recommendations: Anand Rathi lists stock recommendations, while Fyers does not currently mention it.
Trading education: Fyers lists trading education, while Anand Rathi does not currently mention it.
Share pledging: Fyers and Anand Rathi both list share pledging.
PMS or PCG: Anand Rathi lists PMS or PCG support, while Fyers does not currently mention it.
NRI services: Anand Rathi lists NRI services, while Fyers does not currently mention it.
Fyers provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while Anand Rathi offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
Fyers vs Anand Rathi — In-Depth Comparison of Services
| Service | Fyers | Anand Rathi |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | No | No |
| Stock Research | No | Yes |
| Stock Recommendations | No | Yes |
| Trading Education | Yes, School of Stocks | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | Yes |
| NRI Services | No | Yes |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Fyers and Anand Rathi.
Fyers and Anand Rathi — Detailed Comparison of Advisory Services
| Advisory | Fyers | Anand Rathi |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes, chargeable | Yes |
| Company Reports | Yes, chargeable | Yes |
| Annual Reports | No | No |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | Yes, chargeable | Yes |
| Daily Top Stock Picks | Yes, chargeable | Yes |
| Daily Market Review | Yes, chargeable | No |
| Monthly Review | No | No |
| Weekly Review | Yes, chargeable | No |
| Relationship Manager | No | Yes |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Fyers and Anand Rathi across different segments.
Fyers and Anand Rathi — Comprehensive Comparison of Trading Exposure
| Exposure | Fyers | Anand Rathi |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
Fyers and Anand Rathi both list a sub-broker program. Fyers and Anand Rathi both list a partner program. Fyers and Anand Rathi both list a referral program.
Fyers vs Anand Rathi — Comparative Analysis of Programs
| Program | Fyers | Anand Rathi |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Fyers provides support through trading desk support, call support, email support, website support and Facebook support. Anand Rathi provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Anand Rathi operates Available branches.
Fyers and Anand Rathi — Comprehensive Comparison of Customer Support
| Support Channel | Fyers | Anand Rathi |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Free |
| Dedicated Dealer | NA | Available, Free |
| Call Support | 080-60001111 | 0291-6661001 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | NA |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | Telegram Support Link | Telegram Support Link |
| Branches / Offices | NA | Available |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Fyers carries an overall rating of 8.20 / 10, while Anand Rathi carries an overall rating of 7.90 / 10.
Fyers vs Anand Rathi — Ratings Comparison
| Rating Parameter | Fyers | Anand Rathi |
|---|---|---|
| Overall Rating | 8.20 / 10 | 7.90 / 10 |
| Customer Support | 8.16 / 10 | 7.87 / 10 |
| Technology | 8.29 / 10 | 7.99 / 10 |
| Charges | 8.23 / 10 | 7.93 / 10 |
| Products & Services | 8.15 / 10 | 7.85 / 10 |
| Experience | 8.13 / 10 | 7.84 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Fyers & Anand Rathi — Comparison of Customer Complaints
| Complaint Metric | Fyers | Anand Rathi |
|---|---|---|
| Total Complaints Lodged | 132 | 35 |
| Total Complaints Resolved | 118 | 30 |
| % of Resolved Complaints | 89.39% | 85.71% |
| Non-Actionable Complaints | 10 | 3 |
| % of Non-Actionable Complaints | 7.58% | 8.57% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Fyers and Anand Rathi.
Fyers vs Anand Rathi — Detailed Comparison of Transaction Charges
| Transaction Charges | Fyers | Anand Rathi |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) 0.00375% (BSE) | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) |
| Equity Intraday | 0.00325% (NSE) 0.00375% (BSE) | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) |
| Equity Future | 0.0019% (NSE & BSE) | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 |
| Equity Option | 0.05% (on premium) | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (on premium) |
| Commodity Future | 0.0026% (Non-Agri) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | 0.0009% (NSE) | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) |
| Currency Option | 0.035% (NSE) | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Fyers & Anand Rathi — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Fyers | Anand Rathi |
|---|---|---|
| Pledge Creation Charges | Nil | - |
| Pledge Invocation Charges | Nil | - |
| Margin Trading Interest | Nil | - |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Fyers and Anand Rathi — Detailed Comparison of Hidden / Other Charges
| Charge | Fyers | Anand Rathi |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | 0.0001% (₹10/Crore) of the turnover |
| DP Charges | Rs.15 per Scrip on Sell | - |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + Transaction Charge + SEBI Fee) |
| Account Closure Charges | Nil | - |
| Reactivation Charges | Nil | - |
| Dematerialisation Charges | Nil | - |
| Call & Trade Charges | Rs.50 per Trade | - |
Fyers lists account opening charges of Free and Demat AMC of Free (limited period offer). Anand Rathi lists account opening charges of Free and Demat AMC of Rs.450 per Year (1st Year Free).
Fyers vs Anand Rathi — Detailed Comparison of Demat Charges
| Demat Charges | Fyers | Anand Rathi |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Free (limited period offer) | Rs.450 per Year (1st Year Free) |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Fyers vs Anand Rathi — Comparative Analysis of STT and CTT Charges
| STT & CTT | Fyers | Anand Rathi |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on both Buy & Sell sides |
| Equity Intraday | 0.025% on sell | 0.025% on the Sell side only |
| Equity Future | 0.0125% on sell | 0.0125% on the Sell side |
| Equity Option | 0.0625% on sell (on premium) | 0.0625% on premium value |
| Commodity Future | 0.01% on sell (Non-Agri) | 0.01% on sell side (Non-Agri) |
| Commodity Option | 0.05% on sell | 0.05% on sell side |
| Currency Future | Nil | NA |
| Currency Option | Nil | NA |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Fyers and Anand Rathi — Comparison of Stamp Duty Charges
| Stamp Duty | Fyers | Anand Rathi |
|---|---|---|
| Equity Delivery | 0.015% on buy | 0.015% |
| Equity Intraday | 0.003% on buy | 0.003% |
| Equity Future | 0.002% on buy | 0.002% |
| Equity Option | 0.003% on buy | 0.003% |
| Commodity Future | 0.002% on buy | 0.002% |
| Commodity Option | 0.003% on buy | 0.003% |
| Currency Future | 0.0001% on buy | 0.0001% |
| Currency Option | 0.0001% on buy | 0.0001% |