Finvasia

[Raju]

Can anyone share their call & trade number. I am also seeing too much profit

 

[Infooo]

They are closing everything it seems .. phone line out of order.. chat support gone

 

[cloudTrader]

Yesterday was a nightmare for Finvasia clients. Many traders have faced huge losses due to the technical disaster.
Finvasia had no back up plan to restore the system.
Had faced similar situation with 5 Paisa and left them the next day, now it seems my stint with Finvasia is over. The way things were handled was like an amateur team working on something beyond their capabilities. This sounds an alarm as the level of preparedness was negligible.

Hacking could also be not ruled out but response from Finvasia team to their clients was miserable.

 

[timepass]

Yesterday was a nightmare for Finvasia clients. Many traders have faced huge losses due to the technical disaster.
Finvasia had no back up plan to restore the system.
Had faced similar situation with 5 Paisa and left them the next day, now it seems my stint with Finvasia is over. The way things were handled was like an amateur team working on something beyond their capabilities. This sounds an alarm as the level of preparedness was negligible.

Hacking could also be not ruled out but response from Finvasia team to their clients was miserable.

Actually, all the brokers go through this. Sharekhan was the first online broker and TT faced issues for more than a decade. Zerodha used to regularly have issues, specially the day after Ugadi (Gudi Padwa). Twice I have gone to SCORES about it.

Hope @Finvasia will communicate better about it and take the necessary steps to improve.

 

[sridhga]

My contract note came out correctly. But terminal was showing wrong numbers throughout the day. My actual trades were also confirmed from NSE emails. I think the flaw was just at UI.

 

[Bajajdi]

Yesterday was a nightmare for Finvasia clients. Many traders have faced huge losses due to the technical disaster.
Finvasia had no back up plan to restore the system.
Had faced similar situation with 5 Paisa and left them the next day, now it seems my stint with Finvasia is over. The way things were handled was like an amateur team working on something beyond their capabilities. This sounds an alarm as the level of preparedness was negligible.

Hacking could also be not ruled out but response from Finvasia team to their clients was miserable.

Hacking??? And Finvasia... LOL..kuch bhi CloudTrader!!!

Luckily I ended in green and that too much greener than if I had traded on expiry day with systems working

Totally agree with you that they did not have any back up plan. I wondered why, but then I realised that I dont pay so how can they have one.

I think their team consists of one or two people only at the best, attending chat (under various names) as well as phones (if they get answered, if you are lucky). And the same one or two guys attend their IT infrastructure.

I guess they are totally depended on third party for support, nothing in house.

Agree, that their team is amateur. They can work only as per book, anything out of the book they cant handle.

Certainly, yesterday experience is SOS call. They switched of phones, chat.

I mean there can be issues, but client are not aware what has happened and cant reach them. And the final nail in the coffin is that they couldnt figure out way to restore for the FULL day.

That is it, I am done with them. Not worth going for free lunchs when on any one fine day they burn your house.

Placing full funds withdrawal.

Already have with Upstox and Prostocks. Now going to add Kotak as one more alternative.

 

[Bajajdi]

My contract note came out correctly. But terminal was showing wrong numbers throughout the day. My actual trades were also confirmed from NSE emails. I think the flaw was just at UI.

Just saw positive balance higher than my previous day balance so I didnt bother to check. As such placing full withdrawal. Lost trust now. Not compatible with Finvasia any more, cant afford to risk burning the house for free lunches.

 

[cloudTrader]

Actually, all the brokers go through this. Sharekhan was the first online broker and TT faced issues for more than a decade. Zerodha used to regularly have issues, specially the day after Ugadi (Gudi Padwa). Twice I have gone to SCORES about it.

Hope @Finvasia will communicate better about it and take the necessary steps to improve.

True, it happens with every broker at some point of time. I had to face issues with almost every broker at some point or the other and have traded with almost 8-9 brokers to test almost each one out. Not a single broker obliged with full satisfaction.

With Sharekhan I am surprised to know that you faced difficulties. I traded with them and never had an issue with Trade Tiger. Traded with them for almost 3 years before the launch of RKSV [Now Upstox]. Had to leave Sharekhan due to absurd rules of not allowing Options Selling and at that time almost Rs. 100 per lot brokerage for Options buying when I started my stint with Options trading.

I hope Finvasia is able to calm down the panicked clients. Fortunately all my orders were rejected at the start itself and I was spared from the stress which many others had to undergo seeing big negative MTM losses.

Lets hope Monday brings in relief to Finvasia Clients. The messaging and notifications were confusing a lot. At a point, app notification said all is ok and in next 1 hour next notification says do not place orders. Now in that 1 hour many traders got stuck. I also tried putting in fresh orders but very unique kind of order rejection reasons were popping up.

Had a bitter experience with 5 Paisa of losing money so this fiasco just refreshed those memories.

Waiting for 17th April to see the outcome of the amicable solution which Finvasia has promised with their clients.

 

[brokenbull]

First of all my AMO NSE orders were pending even at 9.15am (instead of OPEN at 9am). Then I placed a equity LIMIT buy order around 9,15am on 2 scrips (went thro &placed successfully) . Next all pending orders were cancelled. I placed some MCX Limit orders which didnt go thro.
Finvasia app said no trades by ebd of day even though the scrip I palced buy order traded thro my price )At 12am, i got a NSE notification that a buy was made, On saturday 12pm Finvasia sent contract note. (if it is option or MCX futures I will be on th edge too) . I remember placing MIS equity order which NSE & Finvasia says has been executed (now in small profit as I got the day low).
Monday 8am i will log in and check in CDSL if it showing in stock , That means no worry .if it shows no such stock in T1 or T2 .Then AMO sell MIS order before 8.50am (close it before 9.30am their notification says ). iam not rattled and staying put.

 

[Infooo]

How long we have to wait for your review and response on trade settlement for tech glitch... I have 4 separate account and all had problem .. we are together filing complaint with SEBI