In our trading business, we trade with multiple brokers & Finvasia is one of them. It’s a strategic decision to trade with multiple brokers in order to safeguard our strategy. The trades from our strategy are spread across multiple brokers. So based on our experience so far, we are providing our review of Finvasia.
Introduction
Finvasia is amongst India’s fastest growing Fintech company that has a diversified business model, offering services ranging from asset management, investment banking, and capital market advisory, currency hedging to brokerage services in commodities, equities and derivatives. The company advises clients on investments in fourteen countries, ranging from Australia to Brazil and everything in between.
The thing that stands out for us about Finvasia is Zero Brokerage & their interest in technology.
Brokerage
Finvasia is purely a zero brokerage company. This is a big advantage, if you compare this other brokers. Most brokers provide a fixed monthly brokerage plan for a minimum of 1100/-.
For a more detailed explanation visit Pricing.
You can find our brokers comparison here!
Clearing Charges
Clearing cost is one of the biggest cost embraced by brokers, where majority of brokers in India have to go through a clearing member who charges them a small clearing fees per trade or per volume trades. So in order make clearing cost Zero, Finvasia became a clearing member of NSE and made the clearing charges too – Zero.
Leverage
Details can be found here. In general, Finvasia gives low leverage which means your margin requirements are high.
Customer Service
So far, the customer service has been good to us. We haven’t found any issues with their service.
Trading Platforms
They support NOW, NEST, Presto & Blitz. However it’s worth noting that some platforms are paid.
As of now, NOW & NEST are provided free; but they plan to charge for trading platforms in near future. The cost is minor though, for example you will have to pay 150/- per month (per segment) for using Omnesys NEST. For more detail, click here!
Technology
Finvasia has been investing heavily in technology, which we believe is the right direction considering the fact that computers have become a crucial part of trading. They have products to support automated trading:
- NEST Ami Broker Integration
- Presto
- Blitz Trader
Conclusion
Best brokerage, good customer service, trading platforms and leverage (margin) makes Finvasia one of the most attractive discount broker in India.
Based on experience, there is no such thing as a perfect broker in India. Each one has their pros and cons. The best approach is do some analysis based on your requirements (see our article on how to choose a broker). Never become addicted or tied to a broker. If you are not happy with the services of your broker; look for other options and do not hesitate to switch to a new broker.
