Is Finvasia better than Zerodha for new traders as it is zero brokerage?
Anyone using both finvasia and zerodha, please suggest.
Has anyone switched to Finvasia from Zerodha?
In the initial period, new traders losses are increased due to brokerage costs. Finvasia seems excellent option.
This comparison is very useful:
May be zerodha can reduce the charges further.
By the way, when we buy or sell, brokers get money from both buyer and sellers. So, they get to charge on buy, sell, buy, sell from both buyer and seller !!
No matter traders make profit or loss , brokers get very good money !! It is best to be a broker than a trader even though brokers so painful in any field !
There are around 400 brokers working in India ATM, No one is Perfect and there is nothing ‘one fits all’ .
Finvasia is good if you place trade >10 in a day , that may save you some cost . But there are many things which lacks like good backend reports, hassle free service, self service etc. Sometimes system is not reliable.
Any business is run for profit only so if they are providing something for free than some services are charged as well. In long run these things doesn’t matter much.
For newbies brokerage is blessing in disguise, it will resist you to take too many trade otherwise it may became like video game
I would say in the end you may open a account its free of change and try their service.
I opened the account but have closed as my brokerage cost was not that substantial and some services were lacking there . But overall there support team is really great , lot of things gets solved via chat.
Brokerage is nearly 1/3 of total cost of trade and its decreases as the trade size increase. So if you trade 1 lot at a time its 1/3 but if you trade 10 lots then its nearly negligible. Taxes will be major cost
1.) Finvasia is good for Intraday Trading particularly.
2.) Bracket Order is also given there.
3.) Their chat support is excellent.
4.) Back Office is not upto the mark.
5.) Trading Platform is also not good.
P.S. Zerodha was started by a person (Nithin Kamath) who was a trader himself for almost a decade. All other brokerage houses will always be two steps behind him in everything related to trading/investing.