Best alternative to Zerodha coin?

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

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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.

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Thanks for bringing this question. Even i am looking for a Non Demat based folio app for new account for my family members. I hit this issue recently

I have shortlisted Groww and Kuvera. Since I am investing only in MF’s and no direct stocks. I have finalized with Kuvera.

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I’ll suggest Kuvera.

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Hey @Akash_Shah
Why do you prefer folio over demat ?

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One of the main reason for me to keep it in folio is to keep my MF holdings Platform agnostic and not introduce single point of failure in MY MF investments.

With MF in folio mode, I am still connected to AMC and continue to have multiple ways to transact in that folio. Tomorrow, if I don’t like the platform I am using for transaction, I can simply move all my holding to some other platform or start investing through AMC/RTA website without any friction.
On the other hand, having MF in demat means you are locked to platform and need to rely on it. Moving your investments is painful and need lot of effort.

There is already an old thread which lists out other issues, but for me not having to depend on a specific platform is major reason.


Most Brokers including Z offer e-DIS via CDSL transfer and if you keep these options then its not painful. Today in the day, if i place transfer units in cdsl (online), they are reflecting the day after in console in the other demat account. Applies to shares as well.
No paperwork / physical form etc. Some Brokers dont charge for trx in Z its 0.03% + tax

I never said it is not possible, it’s just additional friction.
Also, as you rightly pointed out there is additional cost involved in transfer

Whereas in folio mode literally no effort or cost is needed. So I don’t see any specific value in holding in demat mode

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Umm there were no rebuttals.
Someone asked me the reason why I prefer folio mode and I provided same.
Every individual has different needs and expectations. One should use whatever works for them.


I think I will go with Kuvera after this healthy discussion. Thank you everyone.


Don’t jump right away, check if it suits you. A product could be good per se, but may not suit your needs. Go for a product if it serves your purpose.

Hi Sunil,
What was the zerodha coin fiasco . I am using it and find it very useful but not aware there was some issue . Please help