shoonya trading app review

In this Shoonya Trading App Review, I will explain the interface and features of Finvasia's Shoonya app. Once you read the post till the end, you should gain a decent understanding of the Shoonya app and decide if you should try it.

Shoonya Update Jan, 2024: Shoonya has introduced AI powered signal based analysis for automated insights.

shoonya review 2024

What is Shoonya?

Just as Zerodha has Kite as its trading app, Finvasia has Shoonya as its trading app for its users. Shoonya is a multi-asset platform that has been designed for both trading and investment. On this platform, you can trade and invest in stocks, ETFs, F&O, Bonds, and Direct Mutual Funds. The trading app is a cross-platform Android, iOS, and Web app.

shoonya trading app review

It's also worth mentioning that Shoonya is a commission-free platform forever. Finvasia doesn't charge any brokerage fee on your trades. The company was established in 2009 and earns money through volume incentives provided by the stock exchanges.

Shoonya Trading App Review: Zero Brokerage

While earning in the stock market is challenging, a lot of money is paid as brokerage every year. It's always a good idea to cut down on brokerage charges as a trader. If you want to cut down on brokerage, Shoonya is one of the finest options since it offers an excellent trading interface alongside zero brokerage trading forever. Besides, it comes with exceptional live chat support.

shoonya trading app review

Shoonya Trading App Review: Interface

When it comes to interface, Shoonya has a clean and intuitive interface. Over the years, Shoonya's interface has gotten much better than it used to be. The app's design has a lot of similarities with Zerodha's Kite. However, it's not as fast and smooth as Kite. Sometimes, the login screen takes too long to load.

The app provides a nice dashboard with an overview of your portfolio and trades. Besides, it allows you to create multiple watchlists and view analytics. However, checking the P&L is not as seamless as in Kite. To check P&L in Finvasia, you have to log into the Back Office. It is something I disliked about the platform, and I wish they really worked on it to make it easy for the customers.

Shoonya Trading App Review: Charting Tools

As far as charting tools go, ChartIQ charts are enabled by default in Shoonya. Besides, users can choose Tradingview over ChartIQ. However, I noticed some delays in the chart update time in Shoonya. It holds true for both Android and Web apps. Hence, I chose to use a separateTradingview account in combination with Shoonya.

shoonya trading app review

Shoonya Trading App Review: The Recent Glitch

On April 14, 2023, Shoonya had several glitches, wherein there were a host of ghost orders. Besides, users could not square off their positions, which eventually led to heavy losses for many users. Even though the trading platform compensated its users, many users hesitated to use the platform since that day.

You may also like: Zerodha Review.

Conclusion

Shoonya is a promising zero-brokerage trading and investment platform. The platform has a clean interface, with everything self-explanatory. Shoonya has highly responsive live chat support. The charting tools are laggy, but you can always use an external Tradingview account. However, the recent glitch was indeed very scary.

Even though the platform must surely have gotten more serious about its stability after the last glitch, you still need to be cautious while using it. One wise thing you can do is keep your funds low in your Shoonya account till you are fully confident about the platform's stability.

Shoonya Trading App Review FAQs

What is Shoonya, and what can I trade on this platform?

Shoonya is Finvasia's trading app designed for both trading and investment. It allows trading and investment in stocks, ETFs, F&O, Bonds, and Direct Mutual Funds. It's a multi-asset platform available on Android, iOS, and Web.

Does Shoonya charge any brokerage fees?

No, Shoonya is a commission-free platform. Finvasia doesn't charge any brokerage fee on trades. Instead, it earns money through volume incentives provided by the stock exchanges.

How does Shoonya compare in terms of brokerage charges?

Shoonya stands out for offering zero brokerage trading, making it an excellent option for traders aiming to cut down on brokerage expenses.

What can I expect from Shoonya's interface?

Shoonya offers a clean and intuitive interface, although it might not be as fast and seamless as other platforms. Users can expect a dashboard for portfolio overview, trade monitoring, multiple watchlists, and analytics.

Are the charting tools on Shoonya effective?

Shoonya provides ChartIQ charts by default, with the option to switch to Tradingview. However, there have been noted delays in chart updates on both Android and Web apps, leading some users to opt for a separate Tradingview account alongside Shoonya.

Has Shoonya experienced any major issues or glitches in the past?

Yes, on April 14, 2023, Shoonya encountered glitches resulting in ghost orders and users' inability to square off positions, leading to substantial losses for some traders. The platform compensated affected users, but it did create hesitancy among some users.

What are the standout features of Shoonya?

Some standout features are Shoonya's zero brokerage model, clean interface, responsive live chat support, and diverse asset options.

How responsive is Shoonya's live chat support?

Shoonya is known for its highly responsive live chat support, promptly assisting users.

Should I be concerned about using Shoonya after the recent glitch?

While the recent glitch was addressed and compensated, it's advisable to remain cautious. Consider keeping lower funds in your Shoonya account until confidence in the platform's stability is regained.

How can I access my P&L on Shoonya?

Checking the P&L on Shoonya is not as seamless as on some other platforms. Users need to log into the Back Office for P&L details, which can be inconvenient for some traders.

Checking the P&L on Shoonya is not as seamless as on some other platforms. Users need to log into the Back Office for P&L details, which can be inconvenient for some traders.

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