The growth of digital trading platforms has made investing in the stock market easier and more accessible for Indian investors.
Brokers like FYERS Securities Private Limited offer advanced trading tools, competitive brokerage plans, and modern platforms designed for both active traders and long-term investors.
However, alongside these advantages, some users have raised concerns about unexpected or excess charges in their trading accounts.
This article examines the issue of excess charges and brokerage churning complaints related to FYERS and what investors should understand before trading.
FYERS Excess Charges Overview
FYERS Securities Private Limited is a technology-focused brokerage that offers a wide range of trading and investment services for modern investors.
Through its advanced trading platforms and mobile app, users can trade in equities, derivatives, commodities, and currencies. The platform also provides detailed charting tools, analytics, and market insights.
However, despite its convenient and modern setup, FYERS Securities Private Limited still faces many complaints, one such complaint being brokerage churning.
Churning in Share Market happens when a broker makes too many trades in your account, not to help you earn more, but to generate more commission for themselves.
Since brokers often earn from each trade, excessive buying and selling can increase their fees.
The problem is that these unnecessary trades can slowly eat into your money and reduce your overall investment returns.
FYERS Complaints
This is what we know about FYERS brokerage churning:
|
Financial year |
Total clients | No. of complaints | % of complaints w.r.t. clients | Resolved complaints | % resolved w.r.t. Total complaints |
Arbitrations |
|
2022-23 |
222798 | 159 | 0.07 | 146 | 91.82 | 1 |
| 2023-24 | 222798 | 137 | 0.06 | 130 | 94.89 |
1 |
|
2024-25 |
238340 | 196 | 0.08 | 196 | 100 | 0 |
| 2025-26 | 200780 | 109 | 0.05 | 103 | 94.49 |
0 |
Over the last four years, the number of clients has stayed quite large, but the complaints remain noticeable each year, reaching 196 complaints in 2024–25, which is the highest in the period.
Even though most complaints are eventually marked as resolved, the resolution rate in most years is below 95%, and a few cases even moved to arbitration.
This pattern could raise some concern that, despite a large client base, grievances continue to arise regularly, which might suggest underlying service or communication issues.
|
Financial year |
No. of complaints | Excess Charges complaints |
% of excess charges complaints w.r.t. complaints |
|
2022-23 |
159 | Around 29 | 18.58% |
| 2023-24 | 137 | Around 87 |
63.50% |
|
2024-25 |
196 | Around 100 | 51.02% |
| 2025-26 | 109 | Around 68 |
62.38% |
A striking part of the complaints appears to be related to excess charges, especially in recent years.
In 2023–24, around 63% of all complaints were about excess charges, and even in some of the other years, the share remained above 50%.
When so many complaints relate to the same issue, it can raise some questions. It may suggest that clients are unclear about the fees being charged or how these charges are explained.
When Can You Take Action Against a Broker?
Time is of the essence if you want to step up against a broker and lodge a proper complaint. Here are the signs to look out for when lodging a complaint:
- The broker fails to provide proper order records or evidence when requested.
- Arbitration proceedings show that trades were executed without the client’s permission.
- Exchange inspections found that the broker did not follow SEBI’s order-recording requirements.
- SEBI determines through adjudication that the broker violated regulatory rules.
- There is a repeated pattern of serious failures in protecting investors.
Once you establish any of these signs, go forward with the complaint process, as it is your right.
How to Report a Complaint Against a Stock Broker in India?
When an issue arises, it’s important to know that you have the right to report the problem and seek a resolution.
1. Gather Evidence: Collect all documents related to the issue. This may include contract notes, trade history, SMS or email alerts, screenshots, and any call recordings. These records help show what actually happened and can support your claim if a trade was made without your permission.
2. Contact the Broker: Reach out to your broker first. Send a clear email or contact their customer support explaining the issue and attaching your evidence. Many problems are resolved at this stage, especially if they are reported quickly.
3. File a Complaint in SCORES: If the broker does not resolve the issue, you can file a complaint in SEBI through the SCORES portal. This makes the complaint official and requires the broker to respond to the regulator.
4. Go for Arbitration: If the problem still remains unresolved, you can file for arbitration in the stock exchange. This is a formal dispute resolution process where an independent arbitrator reviews the case and gives a binding decision.
Need Help?
If you’re not sure where to start or how to move forward, you can simply register with us.
Our team will guide you through the entire process- from preparing and filing your complaint to representing you before SEBI if needed, we’ll be there at every step.
With experienced professionals handling the process, you can feel confident that your case is in the right hands.
Conclusion
While FYERS Securities Private Limited offers modern trading tools and competitive brokerage, the complaint data suggests that certain issues, especially those related to excess charges, continue to concern some clients.
A consistent share of grievances tied to the same problem highlights the importance of clearer fee communication and stronger investor safeguards.
Investors should regularly review their trade records and stay alert to unusual activity in their accounts.
If concerns arise, taking timely action and following the proper complaint process can help protect your rights and investments.
