Broker comparison

Fyers vs IIFL Securities (2026): Brokerage, API, AMC & Execution Compared

Q: Fyers vs IIFL Securities: which has lower delivery brokerage?

At our last review, Fyers published delivery brokerage as "₹20 or 0.3% per order (whichever is lower)" and IIFL Securities as "0.25% per order (Investor Plan - Online Plus, per official rate card)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.

Q: Does Fyers or IIFL Securities have a trading API?

Both have documented APIs at review time: Fyers (Fyers API), IIFL Securities (IIFL Securities API). Compare pricing and rate limits on each broker's developer page.

Q: Which is faster — Fyers or IIFL Securities?

Fyers publishes p99 < 7 ms (processing, self-reported); IIFL Securities publishes ≈ 95 ms (median). Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.

Q: Is Fyers cheaper than IIFL Securities?

On our four example trades (intraday, delivery, options and futures), Fyers is cheaper on 3, IIFL Securities on 0, and 0 are tied, with the rest not modelled from published pricing. Statutory charges are identical, so any difference comes from brokerage.

Q: Are these comparisons independent?

Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.

Side-by-side comparison of Fyers and IIFL Securities from published official pricing and features — no affiliation with either broker.

By the Indian Broker Test editorial desk · Published 8 July 2026 · Data last reviewed 14 November 2026 · Independent

3 – 0Cheaper on example trades (Fyers – IIFL Securities)
6 – 5Published features (of 9)

Fyers vs IIFL Securities — published pricing and features (official sources at last review)
Metric	Fyers	IIFL Securities
Delivery brokerage	₹20 or 0.3% per order (whichever is lower)	0.25% per order (Investor Plan - Online Plus, per official rate card)
Intraday brokerage	₹20 or 0.03% per order (whichever is lower)	0.025% per order (Investor Plan - Online Plus)
F&O brokerage	₹20 per order (options); ₹20 or 0.03% per order for futures (whichever is lower)	Futures 0.025% per order; options ₹25 per lot (Investor Plan - Online Plus)
AMC	₹0 (zero AMC)	Free first year, then ₹250 + GST per year
Account opening	Free (₹0 account opening)	Free (₹0 online)
Trading API	Fyers API — Free (per official API page)	IIFL Securities API
Reported execution speed	p99 < 7 ms (processing, self-reported)self-reported	≈ 95 ms (median)
Algo support	Yes - free API; TradingView-based platform	Yes - via IIFL trading API
Platforms	Fyers app, Fyers Web, TradingView charts	IIFL Markets app, IIFL web (Trading Terminal), IIFL NEST desktop
Best for (published)	Chart-driven and algorithmic traders who live in TradingView.	Investors who want a full-service broker with in-house research and wide product coverage.

Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.

Cost face-off: what real trades cost

Total charges per round trip, brokerage + all statutory charges (NSE)
Trade	Fyers	IIFL Securities	Cheaper
Intraday: ₹1 lakh buy & sell	₹82.97	₹95.06	Fyers (saves ₹12.09)
Delivery: ₹50,000 buy & sell	₹178.98	₹441.53	Fyers (saves ₹262.55)
Options: premium ₹100 × 75	₹66.43	Not modelled	-
Futures: ₹24,000 × 75	₹1,067.15	₹2,083.06	Fyers (saves ₹1,015.91)

Illustrative quantities. Try your own trade in the compare-all brokerage calculator.

Feature check

Feature	Fyers	IIFL Securities
Free delivery	–	–
Zero AMC	✓	–
Free API	✓	–
TradingView	✓	–
MCX commodity	✓	✓
Mutual funds	–	✓
IPO	✓	✓
Research desk	–	✓
Published speed	✓	✓

What the published data shows

Both publish execution-speed figures (Fyers: p99 < 7 ms (processing, self-reported); IIFL Securities: ≈ 95 ms (median)) — methodologies differ; see each profile before comparing on speed alone.

Tools & profiles

Related comparisons

Frequently asked questions

Fyers vs IIFL Securities: which has lower delivery brokerage?

At our last review, Fyers published delivery brokerage as "₹20 or 0.3% per order (whichever is lower)" and IIFL Securities as "0.25% per order (Investor Plan - Online Plus, per official rate card)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.

Does Fyers or IIFL Securities have a trading API?

Both have documented APIs at review time: Fyers (Fyers API), IIFL Securities (IIFL Securities API). Compare pricing and rate limits on each broker's developer page.

Which is faster — Fyers or IIFL Securities?

Fyers publishes p99 < 7 ms (processing, self-reported); IIFL Securities publishes ≈ 95 ms (median). Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.

Is Fyers cheaper than IIFL Securities?

On our four example trades (intraday, delivery, options and futures), Fyers is cheaper on 3, IIFL Securities on 0, and 0 are tied, with the rest not modelled from published pricing. Statutory charges are identical, so any difference comes from brokerage.

Are these comparisons independent?

Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.

Sources

Fyers - official website - https://fyers.in
Fyers - official pricing - https://fyers.in/pricing/
IIFL Securities - official website - https://www.iiflcapital.com
IIFL Securities - official pricing - https://www.iiflcapital.com/brokerage-charges