I have signed up for a trading account with Finvasia.com during October 2016.
I will share with you some of my observations on Finvasia stock broker in India, from a retail daytrader’s perspective.
My reasons for Signing up with Finvasia.com:
- Brokerage FREE trading for intraday and delivery trades on fno, equity and commodities across all exchanges. (FIRST in INDIA)
- About 10x intraday leverage for almost all shares and not just the FnO stocks. (FIRST in INDIA)
- MIS margin available even on volatility days.
My observation on Finvasia during the account opening process:
- Digital eKYC compliant account opening procedure, no more printing, signing and posting.
- Well staffed office, staff feels helpful and friendly. Telephone lines connected straightaway.
- Funds added to trading account in about 10 mins after ref number confirmation on telephone.
- Trading account opening only facility, use your existing demat account.
Technology available at Finvasia for Brokerage Free Trading:
- Free CASH and FnO segment trading through Now Trader desktop app, nowonline web interface or the NOW phone app.
- Free Trading on MCX exchange using the Call and Trade.
- Fund Transfer through imps / neft from your banking app to brokers bank account.
- Basic record keeping system, but does the job.
- Detailed Trading report forwarded through SMS and email at the end of the day. (The detailed sms report is very useful)
My experience with Finvasia, so far:
I am processing my trading orders through Finvasia for the last 5 months and will continue to do the same.
Considering the brokerage is absolutely free, making the choice to trade from The Now trader is worth the package.
While the rest of the day trading community keeps complaining about order processing lags during volatility with other brokers, I never faced a glitch using Now Trader from FinVasia.
With No monthly charges or other fixed charges, I find this as a good breakthrough for zero cost retail daytrading in India.
Thank You FinvAsia for being the industry leader for The real and honest Brokerage Free Trading in India.
Screenshot of the Contract note showing Brokerage Free Trading in India through Finvasia: