Finvasia or Zerodha

#11
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
Quarterly settelement of unused cash is transfered via NEFT/RTGS back to the linked account. (in my case Insusind bank)
They do send a mail 1 or 2 days ahead announcing quarterly settle ment & do the the transfer on a saturday and mail after settlement quarterly settlement details pdf.
Zerodha did the same. ( of course they were asking me to invest in moneymarket/debt funds to avoid transfer back of funds which I did not do)
 
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#12
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.
I have opened a/c with both zerodha & Finvasia using Indusind bank .(all online .no paperwork ever sent by courier by me)
.zerodha replies passive issue tickets replies by email after 3 days. I have never called them . I have removed 10 lakhs equity out of them. keeping some balance just for emergency to buy stocks in "CNC" at 3.25pm if there is big sell off for BTST. I have no such option in Finvasia as there is eDis.I dont want to be called .if i email finvasia with any issue , they call me with in hours or by end of the day (if the issue is regarding RMS trades)
 
#13
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.

I do agree Zerodha is a robust trading /chartingsoftware .For someone trading higher risk intraday futures /options with big risk /reward reward
you need a more stable platform. free commision is the last worry. for positional traders/BTST zerodha with smooth eDis is the best option (overnight equity trades are anyway xero commision. only cdsl charge+ govt taxes. with millions of active customers Zerodha is the most safe broker infact.
I like finvasia for intraday zero commision for equity & currency futures / commodity futures like goldpetal/goldguinea,silvermicro etc.

Likely, they will be listed in ledger. Fyers also does same ..
Yes all charges are in the ledger.
 
#14
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.


Likely, they will be listed in ledger. Fyers also does same ..
Tracerbullet
From you reply iam given to understand you no longer trade at zerodha & finvasia. Iam just curious, who is your current favourite broker that you are trading actively?
 
#15
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 .
GST is charged on which charges ? There is no brokerage so there should be no GST.

BTW, even Zerodha return the balance every quarter, and the same for TSO
 

TracerBullet

Well-Known Member
#16
Tracerbullet
From you reply iam given to understand you no longer trade at zerodha & finvasia. Iam just curious, who is your current favourite broker that you are trading actively?
Couple of others that give higher leverage but now looking to move to Z and/or a bank based broker since intraday leverages will reduce and i will have to keep all capital with broker. ICICI could be possible too, just waiting for some details from them. Likely will move to Z + 1.
With bank based brokers and 3 in 1 accounts, we also should not have issues due to quarterly settlements. kotak is also an option, but both only for intraday where cost is now lower.
 

travi

Well-Known Member
#17
Couple of others that give higher leverage but now looking to move to Z and/or a bank based broker since intraday leverages will reduce and i will have to keep all capital with broker. ICICI could be possible too, just waiting for some details from them. Likely will move to Z + 1.
With bank based brokers and 3 in 1 accounts, we also should not have issues due to quarterly settlements. kotak is also an option, but both only for intraday where cost is now lower.
They are all getting competitive so let these new rules settle.
This time the banks will be more aggressive in trying to capture back the mkt share from brokers.
We've already seem them come up with better plans. I'd love to have good delivery rates as this is one area they're all pretty large. Compared to 0% delivery, its huge.
 

TracerBullet

Well-Known Member
#18
They are all getting competitive so let these new rules settle.
This time the banks will be more aggressive in trying to capture back the mkt share from brokers.
We've already seem them come up with better plans. I'd love to have good delivery rates as this is one area they're all pretty large. Compared to 0% delivery, its huge.
I am waiting confirmation of api access from icici/kotak, got no real info on web apart from docs from icici. Then hopefully will move to them.
Delivery is probably their main money maker, i guess they will be reluctant to go discount there and large players may prefer them for safety.
What IB does is to keep discount model only upto 10L in equity and 100 lots in FnO.
 
#19
GST is charged on which charges ? There is no brokerage so there should be no GST.

BTW, even Zerodha return the balance every quarter, and the same for TSO
1)I meant GST in Zerodha not Finvasia (gst on call & trade charges(MIS auto closure) & CNC stock selling charges (CDSL) 15+gst .
2. I have mentioned Zerodha also returned un used balance evry qurterly settlement (90 days ) back to my bank account
3) Finvasia there is no gst as there is no brokerage. (only the govt fees- STT/CTT/exchnge fees/SEBI fees etc)
 
#20
Couple of others that give higher leverage but now looking to move to Z and/or a bank based broker since intraday leverages will reduce and i will have to keep all capital with broker. ICICI could be possible too, just waiting for some details from them. Likely will move to Z + 1.
With bank based brokers and 3 in 1 accounts, we also should not have issues due to quarterly settlements. kotak is also an option, but both only for intraday where cost is now lower.
"couple of others"...mmmm ok.
For CNC equity trades zerodha is the best .no brokerage /amo works bullet proof. e-Dis is smooth .if you like a beaten up stock ,you can buy it 3.29pm & can be even sold next day at 9.08am via amo order before 8.53am or during premarket 9.00-9.06am
Nifty /Bank nifty Option sellers may have strike restriction in Zerodha ( I heard getting better).Iam not in that game yet.
I heard about kotak for intraday equity. but not in a hurry (I do have bank a/c in kotak
but right now sticking wityh finvasia for free intraday MCX micro futures/currency/ intraday stocks for mini lots & zerodha for overnight stock trading.
 

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