Sorry for being late in replying i agree with newbie day trader, FINVASIA is regulated with all major exchanges and all these exchanges offer investor fund protection incase (which i doubt) the broker tries to run away. And MSN, they been surviving and in fact thriving after offering zero brokerage since 2016. if you read this thread
http://www.traderji.com/community/threads/finvasia.103335/ they've mentioned how they make money despite offering zero brokerage.
And comparing Finvasia to the likes of nirav Modi, Vijay malya,subroto Roy isn't fair first cos they are not from the same segment and second cos none of them gave anything for FREE.. infact they ripped clients with high charges for their offerings
I think we should appreciate the initiatives of broker like finvasia & the others in the discount brokerage segment, as they made the industry competitive allowing better offers and commission to flow in for retail traders. Gone are the days of paying 1 paise for trading and thank god we hv new gen brokers like them in the industry