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.
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.
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: 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: 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.
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.
