Finvasia Broker Review
Detailed Analysis of Finvasia: Zero Brokerage, Shoonya Platform, and Services.
Open Zero Brokerage Account1. Broker Overview
Full Name: Finvasia India Pvt. Ltd.
Parent Company: Finvasia Group
Year of Establishment: 2009
Type: Discount Broker
Headquarters: Chandigarh, India
SEBI Stock Broker Reg. No: INZ000176037
SEBI Research Analyst Reg. No: INH000011927
Depository Participant: CDSL
Website: finvasia.com, shoonya.com
2. Investment Products Offered by Shoonya
Shoonya provides a diverse range of investment options accessible through its web and mobile platforms, offering advanced charting tools and research support:
- Equity (Stocks): Invest in shares listed on NSE & BSE.
- Derivatives: Trade in futures and options across equity, currency, and commodity segments (NSE, BSE, MCX, NCDEX).
- Mutual Funds: Access a variety of mutual fund schemes.
- Exchange-Traded Funds (ETFs): Invest in ETFs across different sectors and indices.
- Systematic Investment Plans (SIPs): Regular investments in stocks and mutual funds.
- Initial Public Offerings (IPOs): Apply for upcoming IPOs.
- Sovereign Gold Bonds (SGBs): Invest in government-backed gold bonds.
- Bonds & Debentures: Invest in fixed-income instruments.
- Clearing Services
- Algo Trading APIs
3. International Investing: U.S. Stocks and Global Markets
Shoonya enables investment in global markets, including:
United States: Invest in U.S. equities and ETFs through partnerships with platforms like Stockal.
Fractional Investing: Purchase fractional shares starting from as low as $0.01.
Account Opening (US Stocks): Zero account opening and annual maintenance charges for US investing via partner.
Process (US Stocks): Complete digital onboarding process.
This service allows Indian investors to diversify their portfolios by investing in global markets.
4. Portfolio Management Services (PMS)
Shoonya by Finvasia offers Portfolio Management Services catering to high-net-worth individuals seeking personalized investment strategies:
Customized Portfolios: Tailored investment portfolios based on individual risk profiles and financial goals.
Professional Management: Dedicated portfolio managers to oversee and adjust investments.
Diversification: Investments across equities, fixed income, and structured products.
Transparency: Commitment to transparent fee structures and regular performance reporting.
PMS is suitable for investors looking for a hands-off approach with professional oversight.
5. Overall Ratings & Breakdown
Note: Research & Advisory is typically not a core offering for discount brokers.
6. Account Opening & Maintenance
Account Opening Charges:₹0 (Zero) – Free Account Opening
Annual Maintenance Charges (AMC – Demat):₹0 (Zero) – Lifetime Free AMC
Call & Trade Charges:₹0 (Zero)
Clearing Charges:₹0 (Zero)
Process:Fully online (eKYC) process via Shoonya platform.
Required Documents:PAN Card, Aadhaar Card (linked with mobile), Bank Proof, Signature, Income Proof (for F&O).
7. Brokerage Charges
Finvasia (Shoonya) offers zero brokerage for Equity Delivery, Mutual Funds, IPOs, Bonds, and ETFs. For other segments, competitive flat fees apply.
| Segment | Brokerage Charge |
|---|---|
| Equity Delivery | ₹0 (Zero) |
| Equity Intraday | 0.03% or ₹5 per executed order, whichever is lower |
| Equity Futures | 0.03% or ₹5 per executed order, whichever is lower |
| Equity Options | 0.03% or ₹5 per executed order, whichever is lower |
| Currency Futures | 0.03% or ₹5 per executed order, whichever is lower |
| Currency Options | 0.03% or ₹5 per executed order, whichever is lower |
| Commodity Futures | 0.03% or ₹5 per executed order, whichever is lower |
| Commodity Options | 0.03% or ₹5 per executed order, whichever is lower |
| Mutual Funds | ₹0 (Zero) |
| IPOs | ₹0 (Zero) |
| Bonds, ETFs | ₹0 (Zero) |
Note: While brokerage might be zero or low, other charges like STT, Exchange Transaction Charges, GST, SEBI fees, and stamp duty apply as per regulations.
8. Demat Transaction Charges
Demat Account Opening:₹0
Annual Maintenance Charges (AMC):₹0
Dematerialization of Shares:₹0
Rematerialization of Shares:₹0
Pledge Creation/Closure/Invocation:₹0
Rejection of Transfer Instruction:₹0
9. Regulatory & Other Charges
Securities Transaction Tax (STT)
Equity Delivery:0.1% on buy & sell
Equity Intraday:0.025% on sell side
Equity Futures:0.01% on sell side
Equity Options:0.05% on sell side (on premium)
Stamp Duty (Gujarat based, may vary by state)
Equity Delivery:0.015% on buy side
Equity Intraday:0.003% on buy side
Equity Futures:0.002% on buy side
Equity Options:0.003% on buy side
Exchange Transaction Charges
Equity Delivery & Intraday (NSE):0.00325%
Equity Delivery & Intraday (BSE):0.00375% (Group A, B etc. may vary)
Equity Futures:0.0019% (NSE)
Equity Options:0.05% (NSE, on premium)
Other Levies
SEBI Turnover Fees:₹10 per crore of turnover
Goods & Services Tax (GST):18% on (Brokerage + Transaction Charges + SEBI Fees)
10. Additional Charges
Auto Square-Off Charges:₹0
Margin Trading Facility (MTF) Interest:Not Applicable (Shoonya does not offer MTF)
API & Algo Trading Charges:₹0
Important: All charges are exclusive of GST and other statutory levies as applicable. The above charges are indicative and may vary. For the most accurate and up-to-date information, please refer to Shoonya’s official Pricing Page.
11. Margin & Leverage
Intraday (Equity):Up to 5x (Varies based on stock and SEBI norms)
F&O (All Segments):As per Exchange (SPAN + Exposure)
Delivery (Equity – MTF/E-Margin):MTF Not Offered by Shoonya.
Against Pledged Shares:Yes, available post haircut.
12. Trading Platforms
Web:Shoonya Web (Trading Terminal)
Mobile:Shoonya App (Android & iOS)
Desktop:Shoonya Desktop (Downloadable Exe)
Other Platforms:Scalpert (Web & Mobile for traders), Prism (Backoffice)
Notable Features:
- Unified Shoonya platform across devices
- Advanced charting tools (TradingView, ChartIQ)
- Multiple order types (GTT, Basket, Bracket, Cover)
- Real-time market data, screeners, and analytics
- Guest Login / Demo available
- API access for algo trading
13. Tools, Features & Advisory
Charting:Advanced charting with TradingView and ChartIQ libraries on Shoonya.
Option Chain:Comprehensive option chain with Greeks and OI analysis.
Strategy Builder:Tools for building and analyzing options strategies.
API Access:Free and well-documented APIs (REST & WebSocket) for algo trading.
Order Types:Market, Limit, SL, GTT, AMO, Basket, Bracket, Cover orders, etc.
Research & Advisory:Typically not provided as a core service. SEBI Registered Research Analyst services may be available separately. Basic market news and data available on platform.
14. Extra Features & Value Adds
Zero Brokerage (Select Segments):No brokerage for Equity Delivery, MFs, IPOs. Low fees for others.
Zero AMC & Account Opening Fee:No charges for opening or maintaining the account.
Free API Access:Robust and free APIs for developers and algo traders.
Multi-Asset Platform:Shoonya supports trading in Equity, Derivatives, Currency, and Commodities.
Technologically Driven:Focus on providing advanced trading technology and platforms.
Clearing Member Services:Offers clearing services to other trading members.
Educational Resources:Provides learning materials, blogs, and webinars.
15. Pledge Facility
Pledging Allowed?Yes
Pledge/Unpledge Charges:₹0 + GST per request per ISIN for pledge creation/closure/invocation.
Margin Time:Usually T+1 day.
16. Fund Transfer & Withdrawal
Supported Fund Transfer Methods:Net Banking (via payment gateway), UPI, NEFT/RTGS/IMPS.
Withdrawal Process & Time:
Online process via Shoonya. Standard withdrawal typically processed within 24 working hours.
Fund Transfer/Withdrawal Charges:Generally free. Payment gateway charges might apply for instant fund transfers if opted.
17. Customer Support
Support Channels:
- Email: [clientsupport@finvasia.com or specific Shoonya support email]
- Phone Support: [Enter Support Numbers, e.g., +91 172 675 0000]
- Live Chat on Website/Shoonya App
- Ticket-based Support System
- Community Forum (Shoonya Forum)
- Comprehensive FAQ & Knowledge Base
Support Timings:Standard business hours. [Verify for extended or 24/7 support for certain issues].
Turnaround Time (TAT):Can vary. Email and ticket responses might take time during peak hours.
18. Broker Complaints & Reliability (FY 2024–25)
NSE (National Stock Exchange)
Active Clients: 12,689
Total Complaints: 2
Resolved: 1
Non-Actionable: 0
Pending: 1
BSE (Bombay Stock Exchange)
Active Clients: Data not specified
Total Complaints: Data not specified
Resolved: Data not specified
Non-Actionable: Data not specified
Pending: Data not specified
Source: GarvThakur – Shoonya Complaints. Complaint data is dynamic. Always cross-verify with official exchange reports for the latest figures and consider the complaints-to-active-clients ratio.
19. Why Choose Finvasia? (And Why It Might Not Be For You)
Reasons to Use Finvasia (Pros)
- Zero Brokerage for Equity Delivery, MFs, IPOs: Significant cost saving for investors.
- Low Brokerage for Active Trading: Competitive flat fee (₹5 or 0.03%) for Intraday & F&O.
- Zero Account Opening & AMC: Free to open and maintain the account.
- Zero Call & Trade Charges.
- Free API Access: Excellent for algo traders and developers.
- Shoonya Platform: Unified and feature-rich trading platform across devices.
- Technology-Focused: Strong emphasis on providing advanced trading tools.
- Multi-Asset Trading: Supports Equity, F&O, Currency, and Commodity trading.
Reasons to Reconsider Finvasia (Cons)
- Customer Support: While available and improving, response times can be a concern for some during peak hours; primarily online.
- No Dedicated Research/Advisory as part of standard offering: Users needing extensive research support might look elsewhere or use their RA services separately.
- Platform Stability: Occasional reports of glitches or downtime with Shoonya, though improvements are continuous.
- Limited Physical Presence: Primarily an online broker with limited branch support.
- Relatively Newer in Retail Broking: Compared to some legacy players, brand trust might still be building for some conservative investors.
20. Current Offers & Referral Program
Account Opening Offers:Standard offer is Free Account Opening and Lifetime Free AMC.
Refer & Earn:Finvasia often has a referral program. Check their website for current benefits and terms.
Promo Code:Generally not required due to the transparent pricing model, but check for specific API or partner offers.
Important: Always check their website for any specific promotions or terms related to value-added services or current offers.