Finvasia Scalpert Review, Advantages and Disadvantages - Best Stock broker

Finvasia Scalpert

Finvasia Scalpert

The in-house web and mobile trading platform for trading and charting, Scalpert is a trading platform introduced by Finvasia, a discount broking firm in India.

Finvasia is a technology-driven stock broker that offers low cost investment by providing Finvasia Mobile App as well as a web trading platform. Finvasia allows customers to trade at zero brokerage for unlimited trades. It only charges the government imposed taxes, exchange fees, and the demat charges. It allows its customers to trade across NSE, BSE, and MCX.

Located in Mumbai, Finvasia was incorporated in the year 2009 and have approximately 15,000 clients that are active.

It offers online trading eliminating the need for mediators while trading. The platform was launched by Finvasia in the year 2017 with the vision to provide frictionless trading experience in the financial markets to its customers.

The platform is available only for the android users and is a 14MB file that can be downloaded from the Google Play Store. The application is available for free for its users.

Finvasia Scalpert Review

Finvasia ScalpertThe trading platform allows its users to trade and invest in equity, futures and options, currency trading, and commodity trading.

The potential client base of the trading platform can enjoy the benefit of trading without any brokerage as well as without paying any hidden charges.

Application Highlights

  • The application has been designed and developed in-house by Finvasia.
  • The trading platform from Finvasia is built on Omnesys API (Omnesys is a Thomson Reuters Company and is famous for NEST Trading Platform) and RMS (Risk Management System).
  • The application is similar to Zerodha’s Kite and RKSV’s Upstox trading platforms.
  • It provides both the mobile as well as the web version to the users.
  • The application does not offer the installable trading terminal version to its users.
  • It allows it users to trade in NSE, BSE, and MCX.
  • The trading platform is integrated with the users’ Demat Account to help them get real-time updates of their holdings.

Key Features

The performance of any trading application is not viewed only on the basis of the whether it is available for free or not, but on the basis of the various other factors including speed, performance, features, and the overall usability of the trading platform.

Here are some of the key features of the Finvasia Scalpert which are offered to the users for a smooth and convenient trading experience.

  • The users of the trading platform can view their day and net trading positions along with all their holdings.
  • There are around 40 technical indicators that are available for the users along with multiple charts including the candle-stick chart. These indicators and charts help the users in conducting a comprehensive technical analysis.
  • The limits can be availed by the clients as soon as the payment is transferred.
  • The platform allows online transfer of funds to and from more than 30 prominent banks in India.
  • The platform also providers its user the access to historical data by multiple time period options for users willing to conduct fundamental analysis for taking trade related decisions.
  • The user gets real-time access of their positions, holdings, profit and loss, and portfolio as a whole.
  • The charts allow the users to place the order directly.
  • The platform also allows the users to place multiple types of orders including Normal Order, MIS Order, Stop Limit Order, Market and Limit Order, Stop Order, Cover Order, and Bracket Order.
  • Apart from the advanced features, the app also provides the basic yet important features like alerts, notifications, and market watch.
  • The market watch list that is provided by the platform for its users can be customized as per their needs and preferences.

Finvasia Scalpert Advantages

The platform comes with the following set of advantages for its users:

  • It allows the traders and investors to trade and invest in multiple segments using a single platform.
  • The platform offers a reasonable number of technical indicators and chart types that can be used by the traders for conducting technical analysis.
  • It allows its users to place different types of orders.
  • The application can be downloaded and installed in desktop, tablets, as well as in mobile phones.
  • It is a completely flexible trading application that can be accessed across different types of devices.
  • Since the app is relatively new, the app updates from the company are regular and frequent which again adds value to the users’ experience of using the app.
  • It brings the feature of algo trading even for the retail customers.
  • It is a fast and highly reliable trading application so far.
  • The trading platform also assists the clients with the call and trade facility using the application without requiring any extra charges for the same.
  • The platform charges zero brokerage for trading across all the segments.

Finvasia Scalpert Disadvantages

  • The user design and the user-experience of the platform is sub-optimal. Hence, it makes it difficult for the users to use to the app especially if the user is a beginner in trading.
  • The scrips sometimes take a lot of time to load. This delay in loading of the scrips can result in the loss to the user as they may lose out on the specific price point by the time the application resumes working.
  • There are complaints that the application regularly logs-out without notifying the user about the same.
  • The app cannot be downloaded and installed by IOS users as it is available only for the android users.
  • It is an entirely online service provider and hence the company has no physical presence through offices.
  • The Intraday exposure and the margin provided by them is comparatively low.

Bottom Line

Despite being a relatively new trading platform, it is very well designed and built with all the essential basic as well as advanced features that are required by traders for a smooth and convenient trading experience. However, the application needs to improve in some areas which might have a major impact on the users’ trade experience and can cause them losses. Also, the trading platform should be made available even for the IOS users.