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Finvasia Broker Review – Pros, Cons, Charges, Brokerage Fees Etc.

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Table of Contents

Finvasia Pros & Cons

Finvasia Charges (Fee Structure)

Conclusion

Founded in 2016 and headquartered in Chandigarh, India, Finvasia is a broker registered with SEBI. This technology-driven financial service provider is presently serving institutional, retail, and foreign customers across 14 countries. In the last few years, it has gained popularity for its comprehensive range of financial services, including retail trading in equity, currency and commodities, advisory, investment banking, asset management, and currency hedging. Here is a review of Finvasia broker pros and cons, charges etc that will help you decide whether it is suitable for your trading requirements.

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Finvasia Pros & Cons

The numerous advantages of Finvasia draw many traders to the platform.

Finvasia Pros

  • Variety of Trading Platforms: Finvasia broker provides a wide range of trading platforms, including NSET, NOW, and ScalperT, catering to different trading preferences.
  • Free ScalperT Trading App: The flagship trading app, ScalperT, is provided to all customers for free. This user-friendly app enhances the trading experience.
  • Free Call & Trade: Finvasia offers free call and trade services, enabling customers to place orders through phone assistance without incurring additional charges.
  • Commission-Free Trading: Finvasia broker offers truly commission-free online trading, with no brokerage charges. Customers only pay taxes and some monthly trading platform usage fees for certain trading software.
  • Free Account Opening: Opening both trading and Demat accounts with Finvasia broker is free of charge, reducing initial financial commitments for traders.
  • Research and Stock Analysis: Despite being a discount broker, Finvasia offers research and stock analysis tools, assisting traders in making informed decisions.
  • Quick Online Account Opening: The platform allows for a seamless online paperless account opening process, utilizing eKYC and AADHAAR eSign, which can be completed in as little as five minutes.
  • Online IPO Application: Finvasia broker facilitates online IPO applications, streamlining the process for customers interested in participating in initial public offerings.
  • Algo Trading Tools: Finvasia stands out by offering algo trading tools to retail customers, empowering traders with advanced trading strategies.
  • Online Chat Support: Customers can access online chat support directly on the website of Finvasia broker, facilitating quick assistance for queries and concerns.

Check our Flattrade Vs Finvasia Comparison: Features, Pros and Cons, Investment Options and Order Types.

Finvasia Cons

There are some disadvantages of Finvasia broker as well:

  • Low Margin/Leverage: The margin or leverage provided by Finvasia broker is relatively low compared to other brokers, which could impact the trading capacity of experienced traders.
  • Limited Support for Beginners: Finvasia broker primarily offers online do-it-yourself (DIY) stock trading, which might not be suitable for beginners or casual investors who require more guidance and support from the broker.
  • Chargeable Advance Order Types: Advanced order types like Bracket orders come with charges, which might affect traders who frequently use such strategies.
  • Limited Charting Options: The trading website Scalpter offers only a 1-minute charting frame, potentially limiting the analytical capabilities of traders who rely on more extensive charting tools.
  • Chargeable Trading Platforms: Popular trading platforms like NEST and NOW come with additional charges, potentially increasing the overall cost of trading for users who prefer these platforms.
  • No 3-in-1 Account: Unlike some other brokers, Finvasia broker does not provide the convenience of a 3-in-1 account that integrates trading, demat, and savings accounts.
  • No Margin Funding: Finvasia broker does not offer margin funding, which could be a limitation for traders looking to leverage their positions.
  • Lack of Local Branches: Finvasia broker operates solely as an online broker and lacks physical branches, which might be a drawback for traders who prefer in-person local support.
  • Limitation on GTC Orders: Good ‘Till Cancelled (GTC) orders are not available for trading on NSE and BSE, although they are accessible for trading on MCX.
  • Additional Charges: Despite the absence of brokerage charges, traders still have to bear costs for demat charges, taxes, software fees, and other associated expenses.

Finvasia Charges (Fee Structure)

Know about the fee structure for the Finvasia charges.

Software usage charges (Monthly fees):

  • ScalperT: Free
  • NEST: Rs 99 for bracket order, Rs 49 per exchange per month
  • NSE NOW: BSE: Rs 149 per segment per month and NSE: Rs 0.
  • Blitz Trader: Rs 2999 and
  • Presto: Rs 1599.

Other Charges:

  • DP charges for delivery-based equity selling: Rs 9 per transaction.
  • Call & Trade: Available free of cost.
  • SEBI Charges: Charged at Rs 10 per Cr.
  • GST: Charged at 18% of the total cost of brokerage plus transaction charges.
  • Stamp Duty: Charged based on the state where the customer lives.
  • STT: Charged only on the sell side for intraday and F&O trades. Charged on both sides for Delivery trades in Equity.

Finvasia Demat Account Charges:

Finvasia broker provides depository services (Demat Account) through its membership with CDSL. Read on and know about the charges related to Finvasia Demat account.

Finvasia Brokerage Charges

There is a transparent structure when it comes to the Finvasia brokerage charges and related fees:

  • Delay Payment Charges: 2% per month on T+2 days
  • Demat Closure Account: Nil
  • Modification in Client Information: Rs 19 per request
  • Failed Transaction: Rs 49 per transaction
  • Check Bounce: Rs 299
  • Delivery Instructions: First Booklet: Free | Additional: Rs 99 for 10 leaves
  • Adhoc / Non Periodic Statement: Email: Free | Physical: Rs 5 per page + Rs 99 Courier Charges
  • Periodic Statements: Email: Free | Physical: Rs 99 Courier Charges
  • Pledge Invocation per ISIN: Rs 19
  • Unpledge per ISIN: Rs 25 + NSDL Charges
  • Pledge per ISIN: Rs 25 + NSDL Charges
  • Courier charges per Demat/ Remat request: Rs 99
  • Remat (Per ISIN): Rs 15 + Rs 99 Courier charges
  • Demat (Per certificate): Rs 15 + Rs 99 Courier charges
  • Inter Depository Transfer (Off-Market Trades): Buy (Receive): NIL | Sell (Debit): Rs 9 (including CDSL Fee)
  • Transaction Charges per ISIN (Market Trades): Buy (Receive): Rs 0 | Sell (Debit): Rs 9 (including CDSL Fee)
  • Annual Maintenance Charges (AMC): Individuals Rs 0 Per Year | Corporate Rs 1000 + GST (Payable upfront every year)
  • Stamp Charges payable upfront (at actual): Rs 199
  • Demat Account Opening Charges: Rs 0

Open an account with Angel One or check our post on Flattrade and Finvasia Charges Comparison: AMC, Brokerage, Transaction, GST, SEBI Charges Etc.

Conclusion

While Finvasia broker boasts several advantages, including various trading platforms and free account opening, it also presents limitations such as lower leverage and limited support for beginners. Before using it for trading, you must consider these factors in your decision-making process.

How does Finvasia compare with other brokers in India? Find out from our YouTube video:


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