Can we trust Finvasia Zero broker?

Can we trust Finvasia Stock Broker ? It’s providing zero brokerage for all segments. Eariler some brokers become defaulter. Will it become defaulter ? Is there any trusted brokers with unlimited brokerage plan ?

Zero brokerage doesn’t mean that the broker is defaulter. Many brokers across the globe are offering 0 brokerage today. Finvasia is also like any other broker so there is nothing to feel worried about.

I’m using finvasia they’re very good

@smilingstalker
I am also using Finvasia. But I have doubt about trust. So can I keep funds in their account ?

Do they offer brakcet order? Is it working fine?

I was also worried about that but after researching found out they’re safe. They’re registered and regulated and been around for a long time now. Your funds are are safe and customer support is good too.

they earn money by charging institutions and hni’s who deals with them.

if you are still unsure I suggest go ask them through live chat on their website or you could email them.

okay, thank you.

1 Like

If you want to scalp you can go to icici direct as they wont charge brokrage if you square off position under 5 mins

1 Like

5 mins is too short time. Is there any other unlimited brokerage plans from well known brokers ?

1 Like

Kotak Securities gives you zero brokerage for intraday if you pay 1000 per year

3 Likes

Thanks for sharing bro. How is kotak securities? Do you use it? 1000 is very affordable.

Ganesh stay away from Finvasia. If you are used to using Zerodha/Fyers/Upstox, after using Finvasia you would feel as if you have arrived a decade back.

Their web app/site is remarkably slow when it comes to loading. Their platform Scalpert doesn’t have Nifty50, Bank Nifty charts (I am not joking.No NIFTY50, Bank Nifty charts).

If you place a CO in Scalpert, you can’t modify stops later unless a 3% movement has occurred from transaction price.

If you really want to save brokerage and are sure about your edge, why not try Fyers 30 day challenge? They will refund your brokerage if you are profitable in 30 days.

3 Likes

Update (July, 21): They have launched a new web platform (& a mobile app) named Shoonya which is much better than Scalpert. Now Finvasia services are much better (reliable and fast). A little bit of improvement in UI/UX and then it would be a pretty good platform. Best of luck team @Finvasia

2 Likes

Is my money safe with Finvasia, recently I dabbled a bit with them and had some issues with payout requests, had to make request 3 -4 times and follow up with Support. Is it a good and safe company run by a visionary , like was the case with Nithin sir with Zerodha. I am looking for a low brokerage option for my currency trading , is there any reliable brokerage firm offering less than or equal to Rs 5 per executed order for Currency FNO? @vkabdwal , any person having experince with Finvasia or other broker for Currency Trading?

To be honest, I use Finvasia for USDINR trading only. I haven’t experienced any problem in pay-out/in. What I would strongly recommend is to directly call (or use Finvasia chatbot on their website home page) the customer executive. Their customer service is very very good (probably due to few clients, they are better able to service us). Tell them you are facing issues in pay out. Then they will raise a request from their side and it will be processed very soon.

1 Like

Thanks @vkabdwal for sharing your experience, would you mind telling how long have you been using FINVASIA, Its been just 2 months for me, Even I plan to use it purely for USDINR.

Strange, never happened with me. Did you make request before 5?

Yes, my 2 consecutive requests got rejected stating “Duplicate Payout Request”, 3rd Time I followed up strongly with customer care. Lets see maybe it was a one off event.

2 Likes