Updated September 29, 2026 · BrokerCue Editorial Team
Fyers vs Topstep
What sets them apart
| Compare |  Fyers |  Topstep |
|---|---|---|
| Minimum deposit | ₹0 | $49 |
| Stock trade fee | ₹20 | $0.50 |
| Account fee | ₹0 | $0 |
| Markets | Stocks, ETFs, Futures, Options, Bonds, FundsCovers more | Futures |
| Inactivity fee | Not confirmed | $0 |
| Regulators | Not confirmed | National Futures Association (NFA) registered introducing broker, Topstep Brokerage LLC, Commodity Futures Trading Commission (CFTC) registered FCM / NFA member, Plus500US Financial Services LLC |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
| Margin rate | 12.49% to 16.49% | Not confirmed |
| Options contract fee | ₹20 | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | 1% processing fee on debit card deposits and withdrawals; wire fee $10 outbound, $0 inbound |
| Platforms | Not confirmed | TopstepX |
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Key differences
- Topstep scores higher overall: 9.5 vs 9.3.
- Markets: only Fyers offers Stocks, ETFs, Options.
- Features: only Fyers offers Mobile app.
- Features: only Topstep offers Futures.
- Audience: only Fyers offers Experienced, Day traders.
- Audience: only Topstep offers Beginners.
Our verdict on each
Fyers
Fyers suits experienced traders who want a low cost account with nothing at all to pay to open or hold. Stock trades cost INR 20 and the account fee is INR 0, so the charges only bite on traders who place many orders each month.
Topstep
Topstep suits beginners who want a low-cost route into futures prop trading, pairing a challenge price of $49 with a profit split of 90% that is competitive without topping the table. The brokerage account adds an account fee of $0 and payouts Every 2 weeks, so it suits a funded account you plan to grow.
Score breakdown
| Area | Fyers | Topstep |
|---|---|---|
| Cost | 9.0Account fee and minimum deposit are INR 0 and INR 0, but a stock trade at INR 20 sits above the cheapest. | 9.4HigherAccount fees are $0, the inactivity fee is $0 and the challenge costs $49, against a site median of €56.56. |
| Offer | 9.7 | 9.790% paid Every 2 weeks on a 2 step evaluation, with markets limited to futures. |
| Trust | Not confirmed | 9.5 |
Where they rank in our lists
| Ranking | Fyers | Topstep |
|---|---|---|
| Futures trading platforms | 15 of 83 | 12 of 83 |
Side by side, item by item
| Markets | Fyers | Topstep |
|---|---|---|
| Stocks | Yes | No |
| ETFs | Yes | No |
| Options | Yes | No |
| Futures | Yes | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
Pick Fyers if, pick Topstep if
Pick Fyers if markets matter most.
Pick Topstep if cost matter most.
What we checked
Fyers
- fyers.in: 9 facts, checked September 26, 2026
Topstep
- topstep.com: 8 facts, checked September 26, 2026
- topstepbrokerage.com: 5 facts, checked September 26, 2026
- nfa.futures.org: 2 facts, checked September 26, 2026
- help.topstepbrokerage.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Fyers | Topstep |
|---|---|---|
| Features | Demo account, Mobile app | Demo account, Futures |
| Pricing model | Low fees | Low fees |
| Audience | Experienced, Day traders | Beginners |
| Legal entity | Not confirmed | Topstep LLC |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 2010 |
| Support channels | Not confirmed | Email, Chat, Phone, Help centre, Community |
Where each stands against the rest
| Fact | Fyers | Topstep | Median |
|---|---|---|---|
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Margin rate | 12.49% to 16.49%highest quarter | Not confirmed | 8.79 |
| Options contract fee | ₹20at the median | Not confirmed | ₹20 |
Median across 36 listed brokers.
Pros and cons
Fyers
Pros
- The account fee is INR 0 and the minimum deposit is INR 0, so holding the account costs nothing.
- It runs on a low fee model, with a stock trade at INR 20 and options at INR 20.
- A single account covers stocks, etfs and futures, with a demo account and a mobile app included.
Cons
- A stock trade costs INR 20 against $0 at eToro, so frequent traders pay more.
- The stated audience is experienced and day traders, so a first time investor gets little guidance.
- Borrowing to trade attracts a margin rate of 12.49% to 16.49%, a cost the cash account does not carry.
Topstep
Pros
- Entry is priced at $49 for a 2 step evaluation, with a profit split of 90%.
- The brokerage account fee is $0 and the inactivity fee is $0, so an account left open does not slowly bleed money.
- Payouts arrive Every 2 weeks, a steadier rhythm than a single monthly cycle.
Cons
- The split of 90% leaves a share of profits with the firm, where Apex Trader Funding shares 100%.
- Markets are futures only, against 80.6% of the brands here that cover stocks.
- Topstep ranks 7 of 21 on challenge price, and Alpha Capital Group lists $27 for its own challenge.
Who each suits
Fyers
Who it suits
- Anyone who wants no minimum deposit, since it is INR 0
- Traders who hold stocks, etfs and futures in a single account
- Cost watchers who trade often, at INR 20 a stock trade
Who should look elsewhere
- eToro users, whose stock trade fee is $0 against INR 20 here
- Vantage users who expect a set minimum deposit, since Vantage lists $5
- First time investors who want hand holding, as the audience is experienced and day traders
Topstep
Who it suits
- Beginners testing futures prop trading, since beginners lists beginners and demo account and futures includes a demo account.
- Traders who want low running costs on a funded account: an account fee of $0, an inactivity fee of $0 and 90% kept of profits.
- Anyone weighing entry price against share, since Funding Pips runs challenge prices of $29 to $555, a different price point to Topstep's $49.
Who should look elsewhere
- Traders who want the whole profit, since Apex Trader Funding shares 100% against the 90% kept here.
- Anyone trading stocks, ETFs or crypto, because the market list is futures.
- Budget-first buyers, since Alpha Capital Group lists $27 for its challenge.
Current offers
Fyers
Current offer
First period offer
Zero Brokerage for the First Month: 0 brokerage first month
New accounts
Source, checked September 26, 2026
Topstep
Current offer
Discount code
Responsible Trading Advantage discounts: Up to $30/month
Add a Daily Loss Limit to unlock exclusive benefits, including larger payout caps and discounts on eligible accounts; listed as -$10 / -$20 / -$30 on the $50K / $100K / $150K accounts
Source, checked September 26, 2026
Discount code
Topstep Trading Combine monthly discount: -$10 to -$30
One-time activation fee paid after passing the Trading Combine; discount is shown alongside the eligible account price
Source, checked September 26, 2026
Country by country
| Country | Fyers | Topstep |
|---|---|---|
| India | Yes | No |
Questions about each
Fyers
What does it cost to trade stocks and options?+
A stock trade costs INR 20 and an options contract costs INR 20. Both are per order charges, so a trader who places many small orders pays more than one who holds a longer position. The account fee does not add to that.
Is there an account fee or a minimum deposit?+
The account fee is INR 0 and the minimum deposit is INR 0, so there is nothing to pay to open an account and nothing to hold one. You can add money in the amount and on the timescale that suits you.
Topstep
How much does the Topstep challenge cost?+
The evaluation fee is $49, and the same figure is listed as the minimum deposit, so that is the outlay before any trading. For context, the median challenge price across the brands here is €56.56. A failed attempt means paying the fee again to try, so treat it as a cost of repeated attempts rather than a single ticket.
What profit do I keep and how quickly are payouts made?+
Once funded, you keep 90% of the profit, and payouts go out Every 2 weeks. The split is a percentage of profit rather than a flat fee, so a thin month does not eat into it. The cadence matters as much as the percentage for cash flow, since a good month reaches your account sooner with a frequent schedule.
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