Finvasia Review – Demat A/C, Trading Platforms & Brokerage Charges

Finvasia Review

Whenever it comes to find out the most technology-driven discount brokers in India, Finvasia emerges out as the most prominent name.

Finvasia is considered among India’s rapidly evolving Fintech company that boasts of a diversified business model. The firm offers a wide range of services from asset management, investment banking, and capital market advisory, currency hedging to brokerage services in commodities, equities and derivatives. The company advises clients on investments in 14 countries, ranging from Australia to Brazil and everything in between.

Based out of Chandigarh, Finvasia offers stock broking services since last 6 years. The company is an active member of BSE, NSE and MCX.

Leveraging cutting-edge technology, Finvasia has been offering stock broking services since 2013. Being a member of BSE, NSE and MCX, the firm is planning to come up with Clearing services, Margin Funding, and Depository services in coming months.

There are many benefits of performing stock trading with Finvasia like:

• Almost zero brokerage
• Strong trading platforms (NEST, NOW, Presto)
• 10x Leverage in MIS
• No clearing charges
• Several automated (Algo) trading solutions
• Excellent customer service

The firm also offers lifetime free brokerage trading services across BSE, NSE and MCX. You won’t believe but there is absolutely no commission when you trade on Finvasia.

With Finvasia, investors can choose to trade in following segments:

• Equity
• Currency Trading
• Commodities Trading
• Derivative Trading
• IPO
• Bonds
• NRI Trading

Finvasia caters Foreign Portfolio Investors or FPIs. It also gives advisories to NRIs or foreigners who are ready to invest in Indian markets. Finvasia has a strong presence in 14 different countries from Australia to Brazil.

 

Membership Information

 

Process to Open an account at Finvasia

Finvasia Securities is an online discount stock broker. To trade with them, you need to open an account with them. Following are the ways to open an account with Finvasia Securities:

• Fill an Online Application Form for instant account opening using AADHAAR.
• Call Finvasia sales phone line.
• Visit Finvasia Corporate office at Chandigarh, India.

Online Account Opening (5 Minutes Paperless Quick Account)

Finvasia enables a web application ‘Prism’ for web-based account opening.

One could open an online trading account quickly if he has his AADHAR linked with your mobile number. This paperless process features 2 major parts:

• eKYC (Know your customer)
• eSignature (Aadhar based electronic signature on your form)

In case of eKYC, you don’t need to fill a lengthy KYC form, if you have done KYC with any other financial service provider (i.e. bank or other broker) in recent time. Basis the information you provide, all other information required for KYC is pulled from Central KYC Database.

The Aadhar eSign process features a digital signature to your account opening form. This is applicable only if you have the right phone number linked to Aadhar and can verify that through OTP. This is the quick, safe and easy way of opening trading and demat account.

1. Steps for digital account opening (online trading and demat account)
   1. Register to Finvasia online account opening website
   2. Mention your basic info scuh as name, date of birth, PAN Number etc for eKYC (Know Your Customer)
   3. Verify the information extracted from Central KYC Database
   4. Validate your Aadhaar OTP to get your details from UIDAI
   5. Electronically sign the account opening documents.
   6. On receipt of the confirmation to the eSigned form, your account gets opened.

Note: In some scenarios, the customer may have to fix few electronic documents including a copy of your PAN Card, Photo, Bank Statement etc.

Benefits of opening the paperless Finvasia instant account

1. • The paperless process makes account opening very easy.
   • If you can validate OTP sent to AADHAR linked phone number, the account opening takes just a few minutes.
   • Support documents can also be digitally signed. No printing or signing documents.
   • It is quick, secure and a convenient process.
2. Download PDF Forms

If you would like to open account offline by filling up the forms, the PDF Account Opening Forms can be downloaded online on Finvasia website. Full-fledged help is available to you over the phone to guide you through the end-to-end account opening process.

You could download, print, fill, sign and courier the forms along with the required identity proof documents to Finvasia Chandigarh office. If all the documents are in correct order, the account is opened within 2 days of receiving the forms.

This process is less suggested as it takes a longer time to an open account.

Visit Finvasia Chandigarh Office Branch

Finvasia is based out of Chandigarh. You could choose to visit their office and open an account with the discount broker.

Documents Required

Your need to have following documents to open an account with Finvasia.

1. AADHAR Card
2. PAN Card with photo
3. Address Proof- Driving License, Passport, Ration card, Latest Telephone or Electricity Bill, Aadhar Card, Government issued ID card etc.
4. Latest 6 Months Bank Statement (For F&O/Currency/Commodity A/C)
5. A Cancelled Cheque with MICR no. & IFSC code mentioned on it
6. Passport Size Photo

Finvasia Trading Platforms

Finvasia offers a range of trading platforms to meet the distinctive trading needs of its clients. From desktop-based to mobile app, there are various options available for investors on Finvasia. Let’s get to know them below.

Finvasia – NOW

NSE NOW or Neat On Web is a web-based trading tool that is developed by NSE. Finvasia has license to use NSE NOW just as other brokers use it for trading. There is need to download or install anything and the application can easily be accessed on a browser.

Its major features are:

• Option to trade across Equity, Derivatives, Currency and Mutual Funds
• Aftermarkets Orders (AMO) allowed
• Personalized screen layouts as per user choices
• Available on mobile across Android, iOS and Windows

In case of NSE, the application can be used for FREE. However, in case of BSE, the software comes at Rs. 120 per segment.

Finvasia NEST

Finvasia NEST trading platform is a terminal-based trading software that needs to be downloaded and installed on desktops and laptops. The application carries some great features like:

• Option of online fund transfer
• Order placement across various asset categories and trading segments
• Interactive charting feature with multiple indicators on a single screen

This software comes at a cost and users need to pay on per segment basis and at bracket order stage. The charges are given below.

Finvasia Ami Broker

AMI Broker is basically a technical analysis tool with all kinds of interactive charting features. It also has an inbuilt mixing with the trading academy which shows users with scanning, custom indicators etc. Here are some of the big features of AMI Broker:

• Interactive charts for technical evaluation
• Helps to double check client’s investment strategy
• Personalized user interface

This is a paid platform priced at Rs. 299 per month.

Finvasia Scalpert

Finvasia Scalpert is a web and mobile-based trading platform with a particular group of features in terms of market analysis and trading. The application is available in web form as well as an Android trading app as well. There are no charges attached to using this application and is free to use Some of the features of Scalpert include:

• Available with nearly 40 technical indicators and multiple chart types for comprehensive technical analysis
• Fund transfer facility is given
• You can place different types of orders through the application
• Overall design is a bit primeval and can definitely be optimized

Finvasia Presto

Finvasia Presto offers API-based platform to its clients who want a customized trading experience. Presto is primarily meant for high-frequency traders who believe in their own technical analysis and prefer taking their own trading decisions. The tool has several features like:

• Trade with Multiple Exchanges
• Connect to Various Data Feed Providers
• Trade with multiple Assets
• Run Numerous Strategies simultaneously
• Develop High End Strategies
• Approved by Multiple exchanges in India

Finvasia Blitz

Blitz is considered as another fabulous trading platform by Finvasia. Alike Presto, Blitz is based on API-model and has Open Framework, leading to ultra fast executions.

Blitz Trader is next gen, very powerful, open and flexible algorithmic trading and execution platform for developing, testing and deploying easy to complex proprietary trading policies into continually evolving stock marketplace. It is designed to increase trading efficiency and profitability.

It boasts of a range of features like:

• High performance event based algorithmic trading system
• Powerful, YET Easy To Use
• Multi-Market and Asset Neutral
• (Support for Equities, Futures, Options, Commodities, Forex etc.)
• End-To-End Trading workflow and Straight Through Processing
• Order Management System
• Execution Management System
• Risk Management System
• Fast and Powerful server-based solution
• Flexible Architecture and C# based API model
• Direct Exchange/Broker Connectivity
• Highly Configurable and Extensible for traders specific needs
• It’s perform as its very own custom software

Blitz Trader gives complete freedom on your trading process and maximize your trading efficiency opportunities. With its enterprise level feature, it can help you save from excessive cost of developing customize automat trading software by providing open trading framework. It meets all your distinctive automated trading needs and add the challenges of constantly evolving financial ecosystem.

Finvasia Customer Care

Finvasia offers customer services to its clients through following communication channels:

• Phone
• Email
• Web Chat
• Web Form

Being a discount broker, Finvasia’s most of the communication channels are web-based in nature. The discount broker has no offline branches or offices in India and rest of the world. As per the feedbacks of customers, it has been noticed that Finvasia has carved a niche in the market by offering prompt responses to customer’s queries. However, sometimes their responses have been unsatisfactory.

In addition, the broking firm can choose to enhance the skill sets of its customer care executives by providing result-oriented soft skills training.

Finvasia Pricing & Charges

The competitive pricing of Finvasia

Account Opening Charges

Demat Account Opening – Rs. 0

Trading Account Opening – Rs. 0

Demat Account Annual Maintenance – Rs. 0

Trading Account Annual Maintenance – Rs. 0

From the above data, it is quite clear that the broker doesn’t charge anything against account opening or account maintenance. This could be a great way to acquire clients by eliminating one possible hindrance, particularly for beginners. However, it is suggested to look beyond “free” accounts as there are hundreds of factors that need to be looked upon while deciding on a broker.

Finvasia Brokerage Charges

The broker follows an easy pricing roadmap with no fixed or percentage-based commission from its users. Actually, it charges clients on the basis of the trading platform they’re using at that point of time.

The main concept here is that the choice of trading platform defines the type of trader the client is. For example, if the client is using a NEST platform, it means the trader is a low-frequency one whereas if someone is using a comprehensive trading platform like Presto, it means that the trader is a high-frequency trader who loves trading more often.

The below are the charges basis the picked trading platform.

Finvasia Transaction Charges

 

The transaction charges given here are based on the overall trade value and this is why they are in accordance with the industry standards.

Finvasia Margins

 

White Label Program

Finvasia’s White label program helps its partners to expand their offerings of stocks, F&O and commodities. Finvasia’s White Label Program has no primary cost and it comes in with end-to-end back office support. The program offers customized and competitive features which are subjected to partner’s business requirements and supplementary solutions.

Finvasia has complete technical solutions to scalp, hedge and trade in various Indian segments.

The Conclusion – Finvasia Review

In the field of discount broking, Finvasia aspires to become a harbinger of change in the eyes of investors. With its core focus on enabling multiple stock trading platforms and discount brokerage solely based on the type of platform chosen, Finvasia is poised to make a big difference in the way people perform trading these days.

In order to become a pioneer in bringing change, there are various areas on which the discount broker needs to work upon including the performance of in-house trading platforms, customer service and other aspects. Overall, by working on these parameters, the discount broker can choose to become a pioneer in the discount broking segment.