New Delhi [India], March 01 : Fintech stock broking firm, FYERS, on Thursday introduced the "FYERS - Free Investment Zone", that instils zero brokerage for equity traders.
This activity is primed as a simple reward system that will keep traders and investors motivated and more engaged during investments.
Moreover, if the participants are net profitable for a period of 30 trading days, FYERS will refund 100 percent of the brokerage incurred.
"Introducing zero brokerage for equity and the 30 day challenge makes us the lowest cost service provider in the industry. Traders and investors can save 95 percent to 98 percent of the brokerage amount when compared to other firms. Our aim is to encourage traders to be sustainably profitable all year round even if it will impact our revenues," said co-founder and CEO, FYERS, Tejas Khoday.
The Free Investment Zone offers the lowest brokerage charges, almost 95 percent less than other brokers.
Further, there is no upper limit or lower limit on the brokerage refund.
FYERS decided to reduce the cost barriers for equity investors, owing to the long term capital gain (LTCG) tax of 10 percent on equities, which was introduced in the Union Budget 2018.