Is Finvasia Safe, Good & Reliable Stock Broker for Trading?
- Asked By
- Updated On:04-Feb-2021
- Replies:4
Short Answer
Finvasia is as safe and reliable as any other stock broker when it comes to stock trading and investing. It is a relatively new entrant in Indian market, but has established itself in different countries in the past. The activities of all brokers are regularly monitored by SEBI , the apex regulating authority thereby protecting the interest of investors.
Detailed Answer
Finvasia is a discount broking firm founded by two brothers as a start-up in 2013. Being rather new in the market, Finvasia managed to acquire a good share of the client base and gain the trust of thousands of people, all over the country. It reportedly had 5318 active clients as of this financial year. This number is expected to grow.
Is Finvasia Safe & Good for Stock Investing?
Finvasia broking company takes a different approach than most discount brokers. While most have fixed brokerage plans, Finvasia seeks to offer flexibility to its clients with multiple trading platforms. You pay according to the platform you choose. However, just like any other business, broking companies take years to develop a brand name. Being launched in 2013, the brand trust of Finvasia is not that popular in the market. However, the team is trying hard to establish a strong place amid leading stock brokers in India.
The customer support service is average due to the lack of offline communication. For online modes, however, different channels are available to get in touch with the broker such as sending a help chat on their website, submitting an inquiry form, sending a direct email on customer support, or calling on the customer care number.
The turnaround time or response period is fast on any of the modes of communication. An executive will get in touch with you within 48 hours of the inquiry. So, in general this seems to be a good demat and trading platform. But, some significant improvements to the different services it offers can make it perform even better as compared to other brokers in India.
What are Finvasia Charges?
The broker has adopted a new method of charging commission wherein the traditional brokerage charged is null but the clients have to pay a subscription amount for using the trading platforms. It offers a wide range of trading platforms such as NSE now (the web trading platform), NSE Nest (the terminal), AMI broker (technical analysis tool), Sclapert (both web and mobile-based), Presto, and Blitz (API based solutions).
All these platforms have different pricing to cater to the needs of all kinds of traders. You may be a swing, intraday, or a heavy trader, Finvasia has a trading platform to suit your customized needs.
How are the trading platforms in Finvasia?
There are various platforms Finavasia offers. However, quality-wise some of them lack expertise. They may be complicated to navigate through, for beginners. The user-friendliness is not that up-to-the-mark. It is advisable to first take the free version of any software before applying for the paid or premium modes.
Rest, its upto you! Have you tried this stock trading plaform? Feel free to share your reviews on the same.
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Discussion (3)
Finvasia is an under-appreciated discount broker that takes ZERO brokerage charges, account maintenance charges, and opening charges. It's quite the platform that needs broader recognition and has received raving reviews for the services it has to offer.
Finvasia is relatively less popular as compared to other famous stock brokers in India especially in the discount broking arena. I don't think anything comes free, you have to pay in one form or another when it comes to availing good services. Discount Brokers like Zerodha have gained immense popularity owing to their performance and visibility in the past few years. So, when it comes in making a choice of the best broker, one is likely to get inclined towards names like Zerodha. Right!
Discount brokers have gained a lot of popularity in the past couple of years. Zerodha is currently India's largest and most trusted discount broker which is also the best option for beginners. It has all the necessary qualities required for a good broker like low commissions, low-maintenance charges, high-quality trading terminal, etc.
Yes, Upstox is safe, good and a very reliable stock broker for trading and long term investing. Being registered with SEBI, NSE, BSE, MCX and CDSL the stock broker has built a good reputation and a decent customer base over the years.
If you're looking for a straightforward and comprehensive take on options trading, then Sensibull should do the job perfectly. However, if you're and expert and want more complex trading tools, then Opstra is the one to choose.
As claimed on the Finvasia website, their mission is to give traders and investors financial freedom from the brokerage. Offering zero brokerage fees, zero account setup fees, zero call & trade fees, and zero clearing fees, Finvasia claims that any overhead cost can be lowered when there is a high volume of clients.
5paisa happens to be the second largest stock broker in the country that offers plenty of benefits and features through its Demat and trading account. Some of which include low brokerage charges of 20 rupees, paperless account opening, free trading tools, research and trading advice for free, and much more.
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Bangalore based online discount broker Groww was found in 2016 and provides plenty of trading and investment opportunities. Users can invest in mutual funds, currency, derivatives, equity, and more. the investment opportunities are backed with guidelines set by NSE, BSE, and SEBI.
As online trading is getting popular every day, it is becoming even more important to choose the right trading platform. Choosing the best trading platform can give you more flexibility to trade in the various trading market.
To open a Paytm Demat Account you do not need to make a lot of efforts. You can simply do it online which spares you from standing in a long waiting queue in the branch of the broker house. These days online and offline account opening has become all the more easy.
Yes, now you can easily invest in stocks through the Groww App. It is a popular discount stock broker firm in India who recently expanded its services to the the stock broking arena. It allows traders to invest online without any subscription fees, transaction charges or any other charges.
Jay Kapoor
From my personal experience what I can say is that no so many people know about Finvasia, but the service they offer is very good for the first time traders.