FYERS Web Trader

One of the revolutionizing name in the discount brokerage space that has gained popularity is Fyers Securities which was incorporated in the year 2015. Based out in Bangalore, Fyers is a registered member of NSE, BSE, and MCX.

The firm offers a flat Rs.20/- per executed trade brokerage plan with facilities to trade in equity intraday, F&O, Currency, and Commodities. It offers free equity delivery trading to its customers.

Fyers is the first ever brokerage firm to have launched the new the way of investing in stocks that is called as ‘thematic investing’. Thematic investing is where the stocks to be invested in are picked on the basis of certain specific themes.

The discount broker offers innovative and advanced trading platforms which include web-bases, software-based, and mobile based trading applications. All the trading platforms offered by Fyers are managed in-house by the company.

Fyers Web Trader

When talking about the next generation web trading platforms it would be wrong to forget mentioning Fyers’ web trading platform. Fyers Web Trader is a web application that is suitable for traders who are looking for a trading platform that allows access to multiple markets. The access to multiple markets is granted through the multiple kind of devices like Smartphones, PCs, Tablets, etc.

The web trading platform introduced by Fyers was recently updated so that it can use latest web technologies which facilitate seamless user experience.

It offers a clutter free UI and is developed with latest designs in mind.

The web trading platform is loaded with a bunch of user-friendly yet advanced features making it one of the best trading platforms.

Key Features

Fyers’ Web Trader comes with a lot of features which includes the following:

• Price Ladder Trading: A price ladder is a tool that contains the bids, the asking prices of stocks, as well as the last traded price of the stock. All the three components are arranged vertically with the actual price of the financial instrument in consideration.

The advantage that the price ladder tool brings with it is that the traders can see the changes taking place in the asking prices and the bids on real-time basis. This gives a deeper insight to the traders regarding what is going on in the market with relation to the stock under consideration and can directly place an order from the ladder.

The feature of price ladder trading makes the trading much more efficient and profitable for the traders as it helps them in making informed decisions.

• Advanced Charts: A trading platform without a good analysis section is a fail as the clients won’t be able to analyze the market and plan their traders accordingly. Charts play an important role in market analysis and stock trading.

Fyers web trading platform provides the traders with advanced charting features. These advanced charts help the traders in analyzing the market with the help of around 70 indicators and over 300+ icons and drawing tools. Professional analysis of charts helps in taking informed and profitable decisions.

• Trading from the charts: Users of the Fyers Web trading platform have the advantage of placing the buy or sell order directly from the charts. The traders need not check other books before placing the trade. The traders using the web trading platform have the option of placing orders, modifying the orders, and also of cancelling the orders as they monitor them along the charts. This prevents any kind of delay in decision making or placing the trade and hence the traders are saved from missing a profitable opportunity.
• Advanced Dashboard: It is the first and the foremost screen that the trader sees as soon as he logins to the web trader. The dashboard of Fyers web trader is loaded with features that help the traders in keeping a track of any open position and also of their orders. This helps the traders and investors in making quick trading decisions as soon as they login to the web trading platform.

Advantages of Fyers Web Trader

Fyers Web Trading platform offers the following advantages to its users:

• There are many features with exhaustive data points which help the users in making quick trade related decisions.
• The application is light weight and provides a decent performance. It has quick execution speed.
• It is easier for the users to navigate from one feature to another and lock the market opportunities on time.
• The application does not require downloading and installing. It has minimum requirements when talking about device configuration, and hence allows the traders to place the trade through laptop or desktop.

Disadvantages of Fyers Web Trader

Following are the loop-holes or drawbacks that the users face while using the web trading platform from Fyers:

• The application is not responsive in nature. There is no flexibility in terms of being used on any kind of device. The traders can only operate the application either on a desktop or a laptop if they wish to have a smooth trading experience.
• The design of the application is bland as the user-interface is flat and inconsistent. The navigation is not as smooth as it should be for a trading application.
• The number of features, though advanced, is limited compared to other applications offered by other stock brokers especially when talking about fundamental and technical analysis.
• Watchlist and other basic features are cumbersome to use hampering the users’ trading experience.

How to get started?

The web application from Fyers is easy to use and does not require any specific manual to be operated. All you need is a modern and compatible web browser to run the application.

If you have the web browser and are wondering how to get started with using the application, you can follow the below mentioned steps:

• Visit the official website of Fyers
• Once you have opened the website, look for the products
• Once you click on the products you will get a dropdown menu, select Fyers web from the menu
• Fyers web landing page will open up.
• Click on the “Sign In” option
• Enter your account login details. Enter your client id and password, enter PAN card number, or the date of birth to authenticate.
• Click on “Submit”

Once you follow these steps you are now logged into the Fyers Online Trading Platform. You can now analyze the market and start trading.

Though it is a good application from a relatively new discount broker, it has certain loopholes that need to be rectified for a seamless user experience.