MFCentral vs Coin

[Mub]

Hi,

MFCentral has recently started supporting transactions as well, so evaluating switching from Coin to MFCentral because of following reasons. Any inputs / views?

1. There is no support for SIP/SWP/STP in coin
2. In coin, for SIPs, there is no easy way of doing an auto payment from bank account
3. SIPs are very restrictive due to unnecessary restrictions put by coin
4. No clear advantage of holding MF units in demat form vs AMC folios
5. MFCentral is not owned by single entity, rather initiated by SEBI through RTAs, KFIN and CAMS

Any reason I shouldn’t switch to MFCentral? Also if I switch to MFCentral, what is the procedure to convert my MFUnits from Demat to AMC Folios without losing out on purchase date, price, records.

Regards,
Mukesh

[RajendraPatil]

Best alternative to Zerodha coin?

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 acknowledgem…

refer earlier discusssion about MFCentral…

[KANAGU]

@Mub Please have a look at some previous posts. MFCentral is not matured enough. You can go for Kuvera. Zero cost with all SWP/STP in Non DEMAT forms

Best alternative to Zerodha coin?

@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.

Best alternative to Zerodha coin?

@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

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.