If you recently heard of Finvasia and are wondering if it’s a good platform for trading and investment, you will find the answer right in this post. In this post, I will present you with a clear picture of the trading and investment platform.
Finvasia Review
I will walk you through all essential aspects of this platform, including the company background, trading platform, products and services, fees and charges, and customer support service.
After reading this post till the end, you should be able to decide if Finvasia is the right trading and investment platform for you.
Background
Finvasia is the brainchild of an ex-Wall Street banker Tajinder Pal Singh and his brother, Sarvjeet Singh. The two brokers started the company in 2009 in Canada and ventured into India by registering with SEBI as a Foreign Institutional Investor in 2011.
However, the company began its stock broking services in India in 2016. The fintech company is headquartered in Mohali, Punjab. Finvasia allows customers to trade and invest across BSE, NSE, and MCX.
Trading Platform
Finvasia is a decent trading platform for all types of traders and investors. Finvasia offers many trading tools. Finvasia’s Shoonya app is a multi-asset platform to simplify investing and trading. The application is available on Desktop, Web, and Mobile platforms.
The app comes with excellent tools for technical and fundamental analysis comprising Multiple charts and timeframes, Multiple order types (including GTT and Basket orders), historical data, over 100 Studies, Screeners & Analytics, Option Chain, and seamless account management.
The app also comes with seamless Deposits and Withdrawals. Customers can deposit funds through UPI or NetBanking. The app has been recently updated and has got a lot better in terms of usability.
Besides, Finvasia offers customers APIs for free to automate trading. Further, Finvasia has its in-house custom client portal called Prism to help customers view and analyze their investments under a single login. Further, Finvasia allows customers to view the various reports, including P&L, by login into the back office.
Products & Services
It’s time to look at the different trading and investment products and services that Finvasia offers. Finvasia allows customers to trade and invest in Equity delivery, F&O, Currency, and Commodity across BSE, NSE, and MCX. The platform also allows customers to trade in Currency F&O.
Fees & Charges
Finvasia allows customers to have a demat account opening for zero charges. On top of that, the platform doesn’t charge any AMC. As far as brokerage goes, Finvasia follows a lifetime zero brokerage across all segments. In case you are wondering how Finvasia manages to do this, it does it by eliminating the cost of sending exchange emails and messages. The platform earns through the volume incentive it gets from the stock exchanges. You can find Finvasia’s explanation on the same here: traderji.com
Finvasia’s lifetime zero brokerage gives it a leading edge over other online brokers. Traders can save a big amount of money by choosing this platform since even discount brokers charge a big chunk of profits by the end of every year for those who trade regularly.
Finvasia Shoonya Glitch 2023
Finvasia Shoonya had a major glitch in 2023, wherein many traders were stuck in their positions and besides, bulk order were automatically placed on many accounts. However, the company compensated the losses for most customers. While it seemed shocking back then, even leading brokers like Zerodha had several glitches that year. Hence, it would not be wise to expect any broker with zero glitches but we have to be extremely careful to avoid big losses.
If ever you sense something unusual with the trading platform, you can stop entering fresh positions immediately and instead, look for some clarity on X and other social media platforms. Besides, you can always use multiple trading platforms, at least 2 to 3 so that if one platform has a glitch, you can continue trading for the day on some other platform.
Customer Support
While most traders and investors always had problems getting technical assistance on time with their brokers, Finvasia has redefined customer support services in the trading industry. The platform has the most responsive customer support through live chat, emails, and phone.
It takes just a few seconds to connect to the live chat, and unlike the Upstox live chat, you don’t have to log in to your broker account to access the live chat. However, phone support takes a long waiting time. Further, Finvasia has decent FAQs for quick reference.
Conclusion
I have provided you with all the essential details of Finvasia review, and if you have read the post carefully so far, you should now have good clarity on the trading platform. Finvasia’s lifetime zero brokerage model sets it apart from other online brokers.
Traders can certainly save a lot of money by choosing this platform. Further, Finvasia offers a great trading experience through its free app, Shoonya, and offers excellent customer support service. If you haven’t tried this platform yet, you must give it a try.
