Finvasia or Zerodha

#1
Hi

I wanted to open an NRI account with someone who charges very low brokerage. I really liked Zerodha but I have been trying to get in touch with them from the last one month and they never get back. I recently came across Finvasia and I am really impressed by Zero Brokerage but I am not sure about it. I do short term trading only so I am not looking for any fancy softwares but something that is neat and smooth.
 
#2
Traders do doubt zero brokerage, I get that, I did too but trust me, its worth it. Plus they are as safe as zerodha just brokerage is zero. And there support is much better too. Here alone many traders are using finvasia.
 
#3
Traders do doubt zero brokerage, I get that, I did too but trust me, its worth it. Plus they are as safe as zerodha just brokerage is zero. And there support is much better too. Here alone many traders are using finvasia.
How did you compare the safety of these two ?
 
#5
Well, they don't do prop trading for starters and then there's SEBI too. How do you suggest we should know the safety of a broker?
I don't know how to assess the safety or a broker. There is no rating agency for the same.

...........and then there's SEBI too.
Can you please explain that statement.
 

brokenbull

Well-Known Member
#6
I don't know how to assess the safety or a broker. There is no rating agency for the same.


Can you please explain that statement.
In my experience safety wise Finvasia is as good as Zerodha (despite ranked 90th in top 100 broker list)
Infact I trust Finvasia more than zerodha in terms of transparency. I want all debit charges (as they are charging GST ) in the daily contact, Zerodha does not show call&trade charges( mostly MIS autoclosure at 3.20pm if you forget), extra ₹15+gst for CNC sales orders(so called cdsl charge) in the daily contract note sent via email.
I dont know about cdsl additional charges about in finvasia as I have traded only intraday in equity (i have no POA. they have no e-Dis).Currency & commodity futures have no additional cdsl dmat charges.
I opened a/c in zerodha around march30th & finvasia in may 1st week.
Religiously Finvasia has transfered back quarterly settlements 3 times so far July/sep/dec back to my bank account.
Finvasia also did the same. but all hidden charges I can not see in daily contarct note (i maintain a daily plus score or minus in spread sheet) I have to go to console & download to see the additional charges.
In finvasia I download daily contractnotes/margin note etc. But finvasia's daily morning 8.30am sms will show my exact balance & holdings (which are only mcx contracts in my case as I can not carry over night equity positions.I dont trade equity stock or index options )
when offering free intraday - there are limitations i can understand.
I wish Shoonya is simplified & made stable (we need only execution ) chart we can see in trading view. still e-Dis not operarional is a big constarint .
 

Vmaster369

Well-Known Member
#7
i didn;t understand part
Religiously Finvasia has transfered back quarterly settlements 3 times so far July/sep/dec back to my bank account.
as far as i know they send statement in email . they not generalize enought to transfer money to bank automatic
in case u not use account
 

TracerBullet

Well-Known Member
#9
Plus they are as safe as zerodha just brokerage is zero.
Finvasia is alright for testing capital. I had no complaints when i used them.
But i wont put my networth with them. Any unpredictable shock in leveraged products ( like crude negative) can lead to losses that broker has to absorb. That is part of business risk for brokers. So they must be well capitalized.
Zerodha is very profitable now, makes 100s of crores. They seem to have large investor base, so less leveraged trades. And i have heard that they are much more stable now vs 3-5 years ago when i stopped trading with them. Inspite of growing to this scale, owner is ultra responsive in forums.

Zerodha does not show call&trade charges( mostly MIS autoclosure at 3.20pm if you forget), extra ₹15+gst for CNC sales orders(so called cdsl charge) in the daily contract note sent via email.
Likely, they will be listed in ledger. Fyers also does same ..
 
#10
Finvasia has informed me that I cannot open an account with HDFC bank account. Only Axis or Yes Bank. My next choice is Prostocks. But I am still confused as I prefer Zerodha but Zerodha's customer service is extremely bad. They never respond to my calls/ emails.
 

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