Best alternative to Zerodha coin?

After the zerodha Coin SIP fiasco, I am thinking of opening another account for easy SIP deduction monthly (DM/non-DM). So any suggestion about website or app which can be reliable and for long term fund storage safely. Any suggestion will be beneficial.


What if there will be a problem with the new alternative? And if you are investing for long term, why not think of the current problems as short term?

I am a user of Coin.

well its not like I am going to stop investing through coins after they solve the issue, but its never a bad thing to look for alternative and have money in with 2 different broker.

1 Like

Of course yes, you can have 2 different accounts, if diversification is the objective :+1:

1 Like

You can buy directly from the website/app of AMC or Registrar like Karvy amd CAMS if you are facing some issue with COIN.

Some want their MF units in demat form, so they are buying through Coin.

I can just talk about my experience.

I am using Paytm Money for couple of years. It was working fine and was happy with it.
I started using it couple of years back, because I wanted to keep my holding in folios (not in demat) and this seemed good option to consolidate all holding at one location.

But now, they have moved to BSE platform and insisted me to open a demat account with them (holding is still in folio mode thought). Had to comply.
On top, was just glancing through my transactions and realized last month two of my SIPs were rejected, even though money is deducted from bank.
Didn’t got any communication from Paytm nor money refunded. Now chasing them for refund.
I never used to check individual transaction status, but looks like now I have to go through all historical transactions (just for my mental peace)

My lesson, things always look rosy when its small setup and you are just starting, but as they grow and complexities increases, trouble will start developing in all platform. Important is how quick platform is to respond and resolve issues.
Probably one gets to know Long term reliability of platform only in long term :slight_smile:


You would be getting an email when a transaction is successful and units are allocated, does this not happen with Paytm?

Yes that does happen normally for all my transactions.
However, for these two failures I can’t find any communication in my mailbox.

1 Like

Yes, so that means the transactions may have failed, and no units are allotted. My point is that we will know through email if a transaction is successful or not, we need not check our account and create our own log with the information from the mails, I do this.

I use Coin and Paytm, not Paytm money.

If holding MF via demat is not a requirement, then Kuvera is pretty nice alternative. They don’t bombard with cross-selling promotions and total AUM is sizeable (so not closing shop any sooner). Have been using it since couple of years now and experience has been excellent. They are solely into direct MF and doesn’t do broking though.


Thanks for the suggestion.

MF Central is a good option to invest in Mutual Fund. This app is developed and maintained by the joint effort of CAMS and KARVY.


MF Central is a bold new way of tracking MF. There was a void in space, which it is trying to fill up…
I suspect It has been initially thought of as a next generation version of CAMS and KARVY mailback services so carries the same DNA, same culture, same philosophy.
So word of caution if someone is thinking of using it as a primary investment platform.

MF Central is still new, no proper customer care, no SLA defined. You raise a complaint and 9 or 10 times it goes even without acknowledgement or receipt.
For the one , which I was lucky to get acknowledged, was simply, “thank you for pointing out the issue”, and there is no further way of following up the issue. no Ticket number, no response to mails/queries raised with respect to earlier issue.

As of now major inconsistencies within MF central makes it difficult to think it has primary MF investment platform.
No history older than 3 years, no excel download, tough luck if you are trying to calculate things like XIRR, yearly inflow/outflow etc which are missing in report. Even if you are a DIY investor, it’s next to impossible to write a simple pdf extractor with open source libraries which can take out data from a pdf file to create xls/csv file, to compute IRR, inflow/outflow etc. Even if you write one, which extracts 60-70% of data correctly, very soon they will modify the PDF generation which will break code.

I would suggest to wait and let the platform mature first,


thanks for your input, will keep in mind.

Amc website of respective fund and cams are great options you have

1 Like

Same with me … customer support very bad representative have very less knowledge

Thank you for introducing me to MF Central. I have been looking for a way to view all my MF investments scattered across multiple platforms in a single place. CAS was so far the way. This will replace the same going forward.

@Sunil_Sethy If you are looking for Non-demat based MF only platform, Then Kuvera is the right one.

  • Direct MF in non-Demat form
    -You can track the same in CAMS/MF Central/Kfintech as well. So you can sell directly via these platforms even if there is a platform with app
  • One click mandate. I was using it since past 1 years. It never failed
  • Excellent customer support
  • Unlike paytm money, No need of opening demat account

@Sunil_Sethy I am a user of Kuvera - which is folio based. No DEMAT is required. I am happy with the service. Never faced any issues in the past 2 years. Also, you will get proper mail notifications for everything

Customer support is excellent. I reported a minor bug in UI. They took it seriously, delivered the fix in the subsequent release.

1 Like