Anyone heard about Finvasia?

Brit7 · Post by **Brit7** » Mon Aug 06, 2018 1:37 pm

I was wondering if any of you guys on R2i has exp with Finvasia. They offer zero brokerage trading for NRI accounts as well. Pretty intriguing and impressive. Before setting up an account just want to be sure if the zero charges are actually zero thanks in advance.

Sakshi606 · Post by **Sakshi606** » Fri Aug 17, 2018 12:16 pm

Hey @brit7 I hv been been trading with them past one year.. pretty good broker though the whole zero brokerage thing looked like a scam but i was surprised to actually see that it is actually what it is... zero.. And I am very satisfied with broker's services. as there were no ac opening charges so i though i'll set up an account and after that its history.. and im surprised that its zero for nris as well.. just as an FYI im an india retail trader. so dont know the cost structures of for NRIs. but you can test them they are trustworthy and gaining traction in india discount brokerage space lately. hope it helps and if you choose to set up an account with them do share here. it'll be interesting to see how their costing is for NRI clients thanks

Trekker · Post by **Trekker** » Thu Aug 23, 2018 6:06 pm

Hey I have been finvasia past few months after a relative of mine from India referred them. The whole process of setting up an account was a bit lengthy cos i did not have a PAN or NRE bank ac. The team handling NRI accounts was really helpful, they help me set up my PAN can, then bank account. They did a lot of hand holding for helping me set up the account. There are lot of legs to open an NRI account and it can be a cumbersome process but these guys made sure that the entire process was smooth. Its been couple of months now and its been amazing and yes they dont charge any commissions to NRIs as well. Though zero commission doesn't matter much to me as much as how they helped me start my account from scratch. their support impressed me more.

If it helps, Steps to set up an NRI trading account are (for equity delivery)

- PAN (notarized copies)
- NRE Account
- PIS Letter from ur bank
- ID documents for foreign address & India address (notarized copies)
- Declarations - FEMA/FATCA Finvasia will provide
- Passport size pictures

Once you have all these things you will have to fill the physical copy of the form and send it to Finvasia. Note that the NRI account opening is not online its an offline process

Its wise you reach out to them and ask them to help you set up the account, they are pretty helpful in that respect. Hope it helps

arnb · Post by **arnb** » Fri Aug 24, 2018 10:59 am

2 years ago, I went through the process of opening an NRE PIS account + 0 brokerage account. My goal was also to use a 0 annual fee combination. I used IndusInd for 0 fee PIS + Prostocks brokerage. You can find the details here:

http://www.traderji.com/community/threads/any-low-fee-portfolio-investment-scheme-pis-provider-for-us-nri-casual-trader.102043/

Glad to see more competitors are entering the market and offering practical solutions to NRIs

IshaanKumar · Post by **IshaanKumar** » Fri Aug 24, 2018 5:37 pm

I'm not sure about NRI but I'm with Finvasia for about 7 months now, it was pretty good, not like any other brokers I've traded with.

Brit7 · Post by **Brit7** » Fri Aug 24, 2018 6:11 pm

thanks for your efforts to reply. I'll drill into it in next few weeks, and will update here if it's going well or not.

Brit7 · Post by **Brit7** » Wed Sep 26, 2018 4:24 pm

So I called the client support of Finvasia and received all the required documents in soft copy to open trading account as well as open demat account. All the documents were delivered to their office last week, the process took 8-9 days (considering im an NRI)without any issue including demat account. I really admire their quick service, it literally didn't cost a dime to set up an account. I'm using them without any surprises since then.

Goldie · Post by **Goldie** » Wed Oct 24, 2018 5:37 pm

Guys, i just heard we can now trade commodity and equity exchanges from a single trading account in Finvasia? Do anyone here knows about it?

IshaanKumar · Post by **IshaanKumar** » Fri Oct 26, 2018 12:34 pm

Goldie;683265Guys, i just heard we can now trade commodity and equity exchanges from a single trading account in Finvasia? Do anyone here knows about it?

Yes we can now trade in a single trading account with Finvasia in all major exchanges NSE, BSE , MCX and NCDEX with ZERO brokerage across all segments. i was informed that it should start from 5th Nov2018 but just make sure to Esign through aadhar the consent form available on PRISM or provide in physical before the deadline of 31st Oct 2018. Finvasia even officially announced it here on traderji; http://www.traderji.com/community/threads/finvasia.103335/page-126#post-1317427