(Last Updated: November 1, 2019)
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Finvasia Review: Brokerage charges, Demat & Trading Account Opening

  • I really like discussing about different stock brokers in India. This time I have picked Finvasia for my review. So, let's have a closer look at the Finvasia brokerage charges and other important details about this investment platform. You'll also learn the how to open aFinvasia demat and trading account. In fact, the demat account opening process is almost similar with all the online brokers in India.

    India has a diversified financial sector experiencing rapid expansions, both in terms of solid growth and new startups entering the market. Recently, I have been highlighting many of the financial and investment companies here in India. Today we continue our analysis on the Indian market as usual. The talk of today is "Finvasia", a rapidly growing financial company in India.

    Finvasia: About the Company
    Finvasia is a Chandigarh based financial investment company founded by ex-Wall Street professionals in the year 2016. The company is amongst India’s fastest growing technology-driven financial (Fintech) company. Along with India, the company is established in 14 other countries across the globe.

    Finvasia Company is commonly called as a “one-stop shop for Foreign Portfolio Investors (FPI)” for all the investors who seek to make investments in the Indian markets.

    Finvasia Review: What does the company offer?
    The company provides a wide range of financial services like:

    • Trading in equity, currency and commodity.
    • Asset management
    • Investment banking
    • Advisory services
    • Currency hedging, etc.

    The company supports retail, institutional and foreign customer’s users as well. It also offers advice to investors who plan to diversify their investments and build their own portfolio, across borders and asset class. Moreover, it is also looking into providing services; Clearing Services, Margin Funding, Depository Services and more.

    In addition, it also offers many trading platforms like ScalperT, NEST, NOW, the flagship Web & Mobile Trading App.

    How to Open an Account at Finvasia?
    It takes less than 5 minutes to open an account on Finvasia!
    Enter all the required details (your PAN number, email id, Date of birth and select your password) and your account is created.

    What are the charges? | Pricing Plan of Finvasia
    The platform operates on “NO BROKERAGE” policy and is a free account facility. Thus opening, transacting and managing your account and portfolio on Finvasia is “free of cost”.

    But, the platform does charge for annual maintenance cost for account operating on the application. Even though the account is free, all statutory cost for operating the investment through the stock exchange and banks will apply as usual.
    Note: A few of the trading applications can be chargeable.

    What is the benefit of choosing Finvasia?
    The company provides an easy and free account opening process which can be easily accessed and used by their investors.

    Apart from being transparent and user-friendly, the platform provides so many services and trading opportunity.

    Their online “Chat Service” and “Customer support team” can assist you with your financial and trading needs. One can easily navigate and select the most suitable opportunity or opportunities to achieve their financial goals.

    Finvasia: A Final Take
    India is among the growing vibrant global economies, on the back of robust banking, insurance, and technologically advanced financial sector. With Finvasia in the market, many investors are likely to get benefited with the smart platform which perfectly resonates with its tagline, “Finvasia: Invest with intelligence”.

    @UniQueme @Tarun @Harleen @prateek What are your views on this investment and trading platform? Which stock broker do you prefer? Feel free to share your feedback.

  • Hey @Smart2Investor , very well written. I am using finvasia only for trading and most of the info you have mentioned is correct, brokerage is absolutely zero, so are account opening charges. Though you got one thing wrong.

    But, the platform does charge for annual maintenance cost for account operating on the application

    AMC is zero as well that too for lifetime.
    Apart from this, if I talk about the trading platforms, they have recently closed NOW and BEST for new users. So, all in all what’s left are Scalpert, NEST and fox trader. As for scalpert, being their in house trading platform, needs a little more work, but has improved significantly since its update, very user-friendly, order execution speed has increased, much stable now and various distinct features are added like multiple chart view at the same time, save the strategies applied on charts, single swipe buy and sell for mobile trading etc.
    Overall, all I can say is, finvasia is definitely becoming a popular choice today and good to see brokers making efforts to cut down the unnecessary cost for traders.

  • I personally have an account with Finvasia along with others, and I appreciate their start up as first zero brokerage model, the initiative broker who broke the wall of brokerage industry.

    The positive about Finvasia:

    • Zero brokerage on trading all segments with no T&Cs + Zero clearing charges + Lowest DP Charge.
    • Customer Support is indeed well-trained with specialized knowledge (I’m referring to RM Mr. Gurjot Sodhi). Live chat and ticket system are helpful to act the requests
    • Able to use two platforms (Scalpert and NEST) which is indeed a great option, but one login at a time. For that, we can access to all devices including Web, Software and Mobile App.
    • As compared to other brokers, they have a very good execution order.

    The negative about Finvasia:

    • Charts are not developed properly on in-house Scalpert. There is no history price in chart. Only 1-minute on 1 day timeframe is available.
    • NEST Platform is not free. It’s chargeable at Rs. 49 per month in an exchange. However, all the other platforms listed is free except NOW for BSE segment.
    • Bracket Order is chargeable at Rs. 99 monthly.

    These issues in first negative point I’ve raised complaint with them, they assured that they are working on these since they released the revamped version of Scalpert app this year. But it’s not a problem for me since I’m able to use NEST and NEST Plus Chart. Since they don’t charge on brokerages and gave me other convenience option, I must be thankful at least. Scalpert is useful for mobile trading app and also good trading orders.

    Now I leave you decisions with both positive and negative in hands about them as per current situation. I’ll keep it updated if needed.

  • Update: Finvasia has changed a lot since one year, here is the timeline:

    Nov 2018 – Finvasia approved to open single account for all exchanges including MCX.
    Apr, 2019 – Scalpert trading platform fully revamped, both web and android app.
    Sep, 2019 – Scalpert trading platform released in iOS
    Oct, 2019 – Prism (Client Portal) fully revamped
    Oct, 2019 – BEST, NOW discontinued for new users
    Nov, 2019 – NEST charges slashed to zero, now both platforms are fully zero.

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