Finvasia: Overview
Finvasia, a financial services company providing a wide array of services in the the financial sector. With Finvasia Securities having its base in Chandigarh, it’s an emerging platform to join the race of discount brokers in India.
Finvasia is an international wealth management and broking fintech company rapidly growing in the Indian arena. this technology-driven Firm offers a very diversified business model ranging from capital market advisory to commodity broking and everything in between. With the aim To promote direct investments, It currently operates in 14 countries including Australia, Brazil, Canada, London, and others. The Indian office of the broker is situated in Chandigarh.
Finvasia: an overview
Finvasia was founded by Ex-wall street professionals Sarvjeet Singh Virk and Tajinder Singh Virk in 2009 in Canada. The brother duo initially came to India as Foreign institutional investors(FII) but soon realized the need to create financial solutions for the Indian investor. The company provides brokerage services in commodities, Equity and forex, currency hedging, corporate funding, asset management, research advisory, and MF solutions. It also deals in real estate investments unlike any brokers in the Indian arena. The goal was to eliminate any middleman one might have and directly make smart investments via Finvasia.
Initiated in August 2016, the stockbroking arm is affiliated with NSE, BSE, and MCX exchanges. They are currently planning to expand their base by introducing Margin Funding, depository, and clearing services soon. The USP of Finvasia is its lifetime zero brokerage offer. It means that you need to pay absolutely zero commission while trading with Finvasia across all channels of exchange. Although the client has to pay taxes and transaction charges, the account opening, Demat account, and Account maintenance (AMC) are cost-free with Finvasia.
Apart from this, the research factor is also strong in the company. It offers various tools for trading as well as technical, fundamental, and analytical market research not subjected to human intelligence.
A fast growing fintech company, the wide range of Finvasia services expand towards:
- Investment Banking
- Asset Management
- Capital Advisory services
- Hedging
- Treasure Management
- Brokerage Services in different segments
A Zero-brokerage model! You don’t pay any account opening fee, Demat and Trading AMC, and you get it for free. That sound really attractive! Let’s catch up with some more insights on Finvasia, its account opening charges, brokerage and other relevant details.
Finvasia: Trading Tools and Platforms
Due to its leverage of cost-free trading, some of the platforms which it offers, require a certain amount of subscription to use. The platforms offer high-frequency trading, and features like Latency sensitive API, Institutional order book, Algo plug-ins, and algorithmic FIX engine.
ScalperT:
It is a web-based trading application accessible on mobile phones, tablets, laptops, or desktop. With 40 in-built technical indicators, it facilitates fund transfer from over 30 banks. It is a free platform to trade online in currency, commodity, equity, futures, options, etc. and shows real-time chats and indicators of your portfolio. Along with all the necessary features, it has advanced trade options like cover orders, Bracket orders, and more.
NEST:
NEST or OMNESYS NEST is a terminal-based platform needed to be installed on the desktop. It facilitates trading in various commodities at a super-fast order execution. Enriched with advanced calculators like options calculator, advanced volatility calculator, VWAP calculator, and more, NEST is the leading platform by the Omnesys company.
NOW:
It is an installable trading terminal affiliated with an NSE program. NSE NOW offers a website, terminal, and a mobile app for trading. It is widely used by discount brokers in India and is highly compatible with all kinds of browsers including Chrome, Safari, Firefox, and IE. It is known for its high speed and compatibility across all channels.
Symphony Presto:
It is an automated trading platform to design, test, execute, and monitor trading and execution algos. Presto is a subsidiary of a Mumbai based fintech company, Symphony and facilitates trading in Equity, futures, commodity, and forex. It is designed to cater to the needs of everyone from a small trader to sophisticated hedge funds.
Finvasia: Account Opening Process
To open an account with Finvasia, you can visit their website and sign up for an account. After providing the details asked for, in the online form, an executive will get in touch with you. You can also call Finvasia sales number or visit their office in Chandigarh to get account details.
Finvasia: Account Opening Charges
| Charge Type | Amount |
|---|---|
| Trading Account Opening Charges | ₹0 |
| Demat Account Opening Charges | ₹0 (Free) |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹0 (Free) |
Finvasia: Equity Trading Charges
Equity Delivery Brokerage
| Charge Type | Amount |
|---|---|
| Brokerage | ₹0 |
| STT | 0.1% (both sides) |
| Turnover/Transaction Charges | ₹325/crore |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | As per UT ₹10 or State-wise for some states |
Equity Intraday Brokerage
| Charge Type | Amount |
|---|---|
| Brokerage | ₹0 |
| STT | 0.025% (on Sell side) |
| Turnover/Transaction Charges | ₹325/crore |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | As per UT ₹10 or State-wise for some states |
Futures Brokerage
| Charge Type | Amount |
|---|---|
| STT | 0.01% (on Sell side) |
| Turnover/Transaction Charges | ₹190/crore |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | As per UT ₹10 or State-wise for some states |
Options Brokerage
| Charge Type | Amount |
|---|---|
| STT | 0.05% (on Sell side) 0.125% (where option is exercised) |
| Turnover/Transaction Charges | ₹5000/crore of premium |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | As per UT ₹10 or State-wise for some states |
Finvasia: Commodity Trading
Finvasia does offer commodity trading through the MCX. Moreover, the brokerage fee that the stockbroker charges is zero.
Finvasia is a technology-centric stockbroker that offers a wide range of trading tools to trade in segments of the BSE, NSE, and MCX. Since 2016, the stockbroker has offered zero brokerage plans and zero commissions whatsoever. Trading in the segments of equity, commodity, currency is made simpler by Finvasia.
Commodity Trading through Finvasia
Finvasia is quite popular amongst the country’s top stockbrokers, all thanks to its zero brokerage and zero commission plans it has to offer. Demat opening charges, trading account opening charges, AMC for both demat and trading account are all zero rupees. Moreover, trading in commodity futures and options is all capped are zero rupees. However, the GST, tax, and other charges that come with every transaction are still there with every transaction made.
Speaking about being technology-focused, Finvasia has multiple trading platforms for an easy and seamless trading experience provided to the users. These include ScalperT (a web and mobile trading application), NSE Now, NEST, Blitz trading (algorithmic focused trading platform), and Symphony presto. Furthermore, a few advantages and disadvantages of using the platform to trade in the commodity segment are illustrated below.
Advantages of using Finvasia for Commodity Trading
- Commission-free trading across all segments of the stock market.
- Flagship products for easy trading in the commodity segments.
- Opening accounts is free of cost.
- Excellent customer care service.
- Curated assistance and information provided for commodity trading.
Disadvantages of using Finvasia for Commodity Trading
- Low margins on trades.
- Absence of 3-in-1 account.
- NEST, NOW are chargeable.
- Margin funding isn’t available.
Finvasia Review
The stockbroker is quite technology-centric and offers a broad range of tools with zero brokerage charged. While it might be appealing, not all the trading tools are free, and the margins are relatively low, which might be a letdown for many.
Commodity Futures Brokerage
| Charge Type | Amount |
|---|---|
| STT | 0.01% (on Sell side) |
| Turnover/Transaction Charges | ₹260/ crore |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | ₹0 |
Commodity Options Brokerage
| Charge Type | Amount |
|---|---|
| STT | 0.01% (on Sell side) |
| Turnover/Transaction Charges | ₹260/ crore |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | ₹0 |
Finvasia: Currency Trading
Finvasia does offer currency trading in the MCX but with no brokerage charges. However, the trade-off is that the margins are relatively low, which might be a let-down for many. There are an array of trading tools offered but most of them are paid.
Finvasia, a stockbroker that is a technology-driven by offering trade and investment opportunities in the segments of commodity, currency and equity. It’s a member of the BSE, NSE and MCX. Moreover, the stockbroker offers a lifetime brokerage free trading across all segments. But the trade-off arises in the margins; where it’s considerably lower than other stock brokers.
About Finvasia Currency Trading
Currency trading can be executed through any of its trading tools. Tools such as Finvasia Now (web oriented trading), Nest (terminal-based software), Finvasia AMI broker (technical analysis tool), Finvasia ScalperT (mobile trading tool), Finvasia Presto (API solution), Finvasia Blitz (advanced API model) can be used to trade in the currency segment.
However, the additional charges such as taxes and other things would be charged. Moreover, the transaction charge of 0.04% will be charged on currency options, and for currency, future is 0.001% of the total trade executed. The drawback is that there are no margins offered in currency trading.
Advantages of Currency Trading through Finvasia
Some of the advantages of currency trading through this stockbroker are:
-
No brokerage charges across all segments.
-
Plenty of trading tools.
-
No account opening charges or trading charges.
-
Advisory services as per users discretion.
Disadvantages of Currency Trading through Finvasia
Some of the disadvantages of currency trading through this stockbroker are:
-
Not much brand recognition.
-
Bang average trading tools.
-
Below moderate customer care support.
-
Inadequate pricing models.
-
Most of the tools offered are paid.
Finvasia Review
The stockbroker provides a unique proposition by eliminating the entire brokerage fee spectrum. Along with this, its plethora of trading tools does make it an appealing stockbroker to choose. But then its customer service, bang average trading platforms do make it doubtful to recommend this discount broker.
Currency Futures Brokerage
| Charge Type | Amount |
|---|---|
| STT | ₹0 |
| Turnover/Transaction Charges | ₹115/crore |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | As per UT ₹10 or State-wise for some states |
Currency Options Brokerage
| Charge Type | Amount |
|---|---|
| STT | ₹0 |
| Turnover/Transaction Charges | ₹4000/crore of premium |
| GST | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | ₹5/Crore |
| Stamp Duty | As per UT ₹10 or State-wise for some states |