Finvasia

[adam101]

1) IF YOU WANT ALL THE FRILLS , YOU SHOULD GO TO A BROKERAGE THAT CHARGES YOU.
2) Regarding support- I send a mail begging them not to call me & reply by mail only - but they call me same day always. There are many issues in software which are still waiting for answers of course.
A.For example I need trade execution notification in Shoonya android app similar to Zerodha. Bloody prize winners notifications are pushed by shoonya app but not executions !
B.Ofcourse you have to cancel all orders one by one .No single click like zerodha. I place lots of intraday stock AMO orders during 8.00-8.30am. whatever not executed I start cancelling them one by one from 3.00pm .It takes 5 minutes to cancel say 30-40 un executed orders. I can not take the risk of any order getting executed during 3.00-3.15pm & getting auto closed by 3.21pm in a loss by RMS as most of my orders are intraday. Some loosing stocks (small qty) I convert to CNC fulling knowing I can not sell next day in Shoonya
During 3.15 to 3.29pm I buy stocks for BTST under CNC mode in Zerodha.(overnight no brokerage in Zerodha + can do BTST next day even during 9.00-9.07am !
C. shoonya app takes a few extra seconds to show orders executed. you see prize already traded, order is still in pending. Then you try to modify, then says order executed & moves to executed.(order in NSE serves has traded already but shoonya takes a few extra seconds sometimes
D. Using e-Dis is still a task in shoonya !(not smooth like zerodha) Zerodha once e-Dis entered gives blanket permission to sell all stocks in CDSL under CNC . In shoonya you have to enter e-Dis each time with qty. AMO CNC sell orders is a mess. can not modify if the price does not hit target. You have to cancel existing order & place a new sell CNC order enetering e-Dis again.
D. The reason Iam not complaining is I dont trade options in shoonya yet. Iam not overly leveraged >I only use 10%-15% of my funds daily on average. so hedged margin not applying is not an issue for me. Even if I do such a option spread selling I will have twice the full NRML margin before I enter in to this venture.
3. For a simple intraday currency ,commodity micro contracts , stocks trading Shoonya does the job with out any expenses other than govt taxes. That is good enough for me. I never call any broker . Zerodha replies ticket after 48-72 hours. Finvasia has called me always same day when I raise an issue by email. In the last 1 year I called Finvasia only once on the A/c opening day when funds credit took 2 hour delay. I have never called Zerodha since account opening .

I sent them email more than one week back. No reply on email !! No phone call !! They launched a completely new software and there is no pdf guide on how to use various features. Even creating custom columns in market watch is different from nest and I am not able to do it after multiple tries. Many things I am not able to do on shoonya. Software is so heavy and laggy. my holdings in finvasia has to sleep whereas other places I can use it for margin for delivery buy. they blocked collateral margin for delivery buy whereas alsmost all other discount brokers provide this as this is exchange provided facility. . Virtually not able to trade in finvasia on shoonya.... as on date I am feeling as if my trading is blocked by @Finvasia . please respond!!

 

[raja4204]

Brokerage Zero, but services BIG ZERO,
Finvasia claiming is zero at brokerage but BIG ZERO at services providing to traders and investors. The only broker in india not able to provide hedge benefits to traders at trade entry level, i have already file a complaint at nse about this. For example if you want to place any hedge order for nifty or bank nifty, if we buy any option first then we sell the option then margin will be around 25k, depend on strike difference, but if you want to deploy same position on shoonya, you need to have around 1.6-1.7 lac in your account, once the trade is done then only your hedge benefit will release.

The so called SHOONYA [means zero] trading software is big shoonya, because at least no basic things in this software like predefined quantity, sqoff all positions at a time, basket order with multiple legs etc, if you want to add new scrips on your terminal you need to put full screen, if you use half screen for terminal and other half screen for charts or any other sites you cannot add a new symbol on shoonya. BO order not allow to change sl or target once you place the trade. So many issues like this, regularly i sent mails to them but no use, the answer is our back end team is working on this but we dont know how many months or how many years to take to fix all these.

Support is a big myth at finv, you wont get any support on the spot, you will get ready made answer, forwarded your query to concern team, they are working on that but we dont know how long it will take to resolve it.

The so called Operational Head Mr. pawan is very irresponsible person, very arrogant and careless person, if you ask anything about trading software or margin issues he simply tell those facilities dont need to traders or investors. If we ask any time line, Mr. pawan answer we cant say any time for anything, we cant provide more than this, if you not interested you can stop trading with us, this is his answer.

If you call on chat support or software support for anything no one will attend your calls for longer time, some times IT team head Mr. Sumit attend your call the only answer you will get forwarded to back end, dont know when it will fixed.

f you ask to speak with any responsible person at least at manager level there, no one will respond to you, this so called sarvjeet singh or tahinder singh virk never look in to these issues, they dont bother about finvasia broking, they always busy with other business. this finvasia old post see 3 rd point , they are working on it

So please think once again to continue with finvasia or if any one want to open new account with them. I filed complaints on nse about finvasia, nse gave some time for them, if these issues or not fixed before that time line, nse will forward my complaint to SEBI and will take necessary action.

Dear members,

We are very much available and closely reviewing all the feedbacks shared. So, thought to quickly share on few suggestions

1. Implementation of Shoonya: Change is always challenging but is one of the potential ways to move forward. There have been various internal policy changes with NEST and our priority is always to offer the possibly best trading platforms to our clients. There may be some features which are different from the legacy system but we are planning to add more and more features in the near future. We genuinely extend our gratitude to all the members for sharing their thoughts and assure to keep customizing in the possible time-frame. So, we would once again, advice our clients to continue using the apps as we focus on the product development.

2. eDIS : We fairly agree and assure that it won’t take long to implement this. We don’t mind to accept that it is delayed than expected yet we plan to go live on this at the earliest possible.

3. Margins : Currently we are in the middle of various compliances to be implemented specially the hedging margins and peak reporting margin. We would like to keep fair balance between clients expectation (or we can say, how it has been happening in the industry since a long time) versus recent guidelines from regulators. We would make all possible efforts to pass the benefits to clients. There are never any intentions to ask for additional margin. Lets discuss about an example

a. Buy high margin Future first (example Nifty has Rs 1.56 L) and low margin option trade (Nifty Put buy premium Rs 7500) later: In this case, generally margin for future is higher. Since you trade future first, system shall check for the higher margin (as required for peak margin reporting) and you can trade option with low margin. Once both trades are executed and due to hedge margin benefit, system shall only block 30,000 and release balance. There is generally no issue.

b. Low margin first (say Option trade) and then high margin trade (say Future trade): In this case, the second leg (Future trade) needs higher margin and historically there was no issue since there was no intraday peak margin reporting. In the current situation, since you entered low margin (Option trade) first, we are asking for full margin for second leg (Future trade) which is higher than hedged margin (as per exchange on the trade level). We are working on it but currently, you need to have margin at trade level and not order level.

The challenge is when you buy low margin first and high margin later. It is expected that system should ask for hedged margin and not full high margin when you enter the second leg (Future trade). The issue is if you exit low margin trade first (say Options) while closing the position. When you exit low margin trade, your open position needs high margin (Future trade) for peak reporting. If you do not have enough margins for the high margin (say Future) trade at the time of entering the trade, you shall be reported for short margin penalty since full margin was not asked when you entered the trade. Hope this shall explain the current limitation as we get more clarification from the compliance and regulators in certain case.

We are working to prioritize the features based on the number of feedbacks received while tagging @ShoonyaApp. Please feel free to reach us for any more clarifications.
Regards THIS FINVASIA OLD POSTS IN TRADERJI , SEE 3RD POINT , THEY ARE WORKING ON IT ( UNTIL THEN USE OTHER BROKER)

 

[neo.mx]

Still I don't understand why they require POA to pass on collateral margin against pledged shares. Other brokers are providing the same benefit without POA.

Finvasia never answered this.

 

[pcrav]

Dear members,

We are very much available and closely reviewing all the feedbacks shared. So, thought to quickly share on few suggestions

1. Implementation of Shoonya: Change is always challenging but is one of the potential ways to move forward. There have been various internal policy changes with NEST and our priority is always to offer the possibly best trading platforms to our clients. There may be some features which are different from the legacy system but we are planning to add more and more features in the near future. We genuinely extend our gratitude to all the members for sharing their thoughts and assure to keep customizing in the possible time-frame. So, we would once again, advice our clients to continue using the apps as we focus on the product development.

2. eDIS : We fairly agree and assure that it won’t take long to implement this. We don’t mind to accept that it is delayed than expected yet we plan to go live on this at the earliest possible.

3. Margins : Currently we are in the middle of various compliances to be implemented specially the hedging margins and peak reporting margin. We would like to keep fair balance between clients expectation (or we can say, how it has been happening in the industry since a long time) versus recent guidelines from regulators. We would make all possible efforts to pass the benefits to clients. There are never any intentions to ask for additional margin. Lets discuss about an example

a. Buy high margin Future first (example Nifty has Rs 1.56 L) and low margin option trade (Nifty Put buy premium Rs 7500) later: In this case, generally margin for future is higher. Since you trade future first, system shall check for the higher margin (as required for peak margin reporting) and you can trade option with low margin. Once both trades are executed and due to hedge margin benefit, system shall only block 30,000 and release balance. There is generally no issue.

b. Low margin first (say Option trade) and then high margin trade (say Future trade): In this case, the second leg (Future trade) needs higher margin and historically there was no issue since there was no intraday peak margin reporting. In the current situation, since you entered low margin (Option trade) first, we are asking for full margin for second leg (Future trade) which is higher than hedged margin (as per exchange on the trade level). We are working on it but currently, you need to have margin at trade level and not order level.

The challenge is when you buy low margin first and high margin later. It is expected that system should ask for hedged margin and not full high margin when you enter the second leg (Future trade). The issue is if you exit low margin trade first (say Options) while closing the position. When you exit low margin trade, your open position needs high margin (Future trade) for peak reporting. If you do not have enough margins for the high margin (say Future) trade at the time of entering the trade, you shall be reported for short margin penalty since full margin was not asked when you entered the trade. Hope this shall explain the current limitation as we get more clarification from the compliance and regulators in certain case.

We are working to prioritize the features based on the number of feedbacks received while tagging @ShoonyaApp. Please feel free to reach us for any more clarifications.
Regards THIS FINVASIA OLD POSTS IN TRADERJI , SEE 3RD POINT , THEY ARE WORKING ON IT ( UNTIL THEN USE OTHER BROKER)

They always working on those, but it never complete that is the main issue, while almost all other brokers providing hedge benefits at entry level it self then whats the problem for only FINVASIA? that means its showing their in efficiency or negligence, i think every trader know what they need, so dont give advises like until then use other broker, we are fighting for our rights, not begging them not requesting them, they should fulfill their duty.

 

[Infooo]

Since launch of Shoonya.. Finvasia number of response on this forum has decreased.. may be he is busy with implementation of all the featured promised... But remember traderji is one platform to attract new prospective customer, hence the active response from Finvasia here would be beneficial for all

Dear members,

We are very much available and closely reviewing all the feedbacks shared. So, thought to quickly share on few suggestions

1. Implementation of Shoonya: Change is always challenging but is one of the potential ways to move forward. There have been various internal policy changes with NEST and our priority is always to offer the possibly best trading platforms to our clients. There may be some features which are different from the legacy system but we are planning to add more and more features in the near future. We genuinely extend our gratitude to all the members for sharing their thoughts and assure to keep customizing in the possible time-frame. So, we would once again, advice our clients to continue using the apps as we focus on the product development.

2. eDIS : We fairly agree and assure that it won’t take long to implement this. We don’t mind to accept that it is delayed than expected yet we plan to go live on this at the earliest possible.

3. Margins : Currently we are in the middle of various compliances to be implemented specially the hedging margins and peak reporting margin. We would like to keep fair balance between clients expectation (or we can say, how it has been happening in the industry since a long time) versus recent guidelines from regulators. We would make all possible efforts to pass the benefits to clients. There are never any intentions to ask for additional margin. Lets discuss about an example

a. Buy high margin Future first (example Nifty has Rs 1.56 L) and low margin option trade (Nifty Put buy premium Rs 7500) later: In this case, generally margin for future is higher. Since you trade future first, system shall check for the higher margin (as required for peak margin reporting) and you can trade option with low margin. Once both trades are executed and due to hedge margin benefit, system shall only block 30,000 and release balance. There is generally no issue.

b. Low margin first (say Option trade) and then high margin trade (say Future trade): In this case, the second leg (Future trade) needs higher margin and historically there was no issue since there was no intraday peak margin reporting. In the current situation, since you entered low margin (Option trade) first, we are asking for full margin for second leg (Future trade) which is higher than hedged margin (as per exchange on the trade level). We are working on it but currently, you need to have margin at trade level and not order level.

The challenge is when you buy low margin first and high margin later. It is expected that system should ask for hedged margin and not full high margin when you enter the second leg (Future trade). The issue is if you exit low margin trade first (say Options) while closing the position. When you exit low margin trade, your open position needs high margin (Future trade) for peak reporting. If you do not have enough margins for the high margin (say Future) trade at the time of entering the trade, you shall be reported for short margin penalty since full margin was not asked when you entered the trade. Hope this shall explain the current limitation as we get more clarification from the compliance and regulators in certain case.

We are working to prioritize the features based on the number of feedbacks received while tagging @ShoonyaApp. Please feel free to reach us for any more clarifications.
Regards THIS FINVASIA OLD POSTS IN TRADERJI , SEE 3RD POINT , THEY ARE WORKING ON IT ( UNTIL THEN USE OTHER BROKER)

 

[cybersurfer]

UPI is now available on Shooonya. Just tried, amount got reflected instantly.

 

[Vmaster369]

now i can save R.s 9 yay lol in a year mine was R.s 198 wasted in atom as charges .

 

[Finvasia]

Dear TJ Members!

We are excited to announce that UPI feature is now available on shoonya. Now you will be able to transfer funds via UPI directly from SHOONYA.
know more:
Web: https://bit.ly/3bc8M8D
Mobile: https://bit.ly/2N57If3
Desktop: https://bit.ly/3jVPx7i

Thanks

 

[Vmaster369]

Use finvasia phone app
there desktop is LAGGY

finvasia is no longer for active traders.... if u buy delievery finvasia is for you
for trader find a broker that has nest ;xD


lock this thread ;xD finvasia has gone deaf doen;t understand Active trader needs
a Sharp light weight sword NOT the THORS hammer for trading
NEST

Finvasia with nest Was Hulk ;xD in brokers world
Finvasia without NEst is liek THORS HAMMER only finvasia ceo can trade it .
unwanted feature and come on 300 mb of shi*t exe no ty

Give your customer option to switch to Nest Keep shoonya free

Bring R.s 20 per order in finvasia NEST i be more then happy to pay you finvasia R.s 20 per order on nest with no amc

 

[tradermodified]

ha ha
but why one will pay 20 per order to F,
when there are many options with a trader to trade in 20 (or less) per order range, using Nest