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Finvasia Open Account | Account Opening Process Review


66.92% 3,335 Clients

Finvasia is an India based financial service provider. It offers a wide range of services to its clients in India and 14 other countries. Finvasia Securities is a SEBI registered stock broker with the membership of BSE, NSE, and MCX. The company offers its services to retail, institutional and foreign customers.

Finvasia is popular for its commission-free trading plan. It honestly offers to trade without any brokerage charges or fixed monthly fee. The Rs 0 brokerage (no prepaid plans needed) is available across the segments on BSE, NSE and MCX exchanges.

Finvasia is also an advisory services provider for commodity, cash and derivatives.

Finvasia Securities Company Facts

  • Member of SEBI, NSE, and MCX since 2009.
  • Launched zero brokerage services in Aug 2016.
  • Over 10,000 customer as of Jan 2018.
  • Over 2000+ active customers at NSE as of May 2018.
  • They give zero brokerage and clearing trading accounts to FPI and other HNI clients.
  • Services offered including asset management, investment banking, and capital market advisory, currency hedging to brokerage services in commodities, equities, and derivatives.

Finvasia Product Offerings

  • Online Trading
    • Equity Trading at BSE, NSE
    • Commodities Trading at MCX
    • Currency Trading at NSE
  • Depository Services (Demat Account)
  • Asset Management
  • Investment Banking
  • Capital Market Research and Advisory
  • Hedging, Treasury Management and Funding for Corporate
  • One-stop shop for Foreign Portfolio Investors (FPI)

Company is planning to add many other products in near future including margin funding, insuarance, mutual funds etc.

Account Types Offered By Finvasia

  1. Online Trading Account
  2. Demat Account
  3. 2-in-1 Account (Trading + Demat Account)

The online trading account is for trading in Equity, Currency and Commodity on BSE, NSE and MCX. The demat account is to hold paperless securities, mutual funds and bonds. Most customers open 2-in-1 account with Finvasia. The transaction of shares between trading and demat account is seamless when both are with Finvasia.

3 Easy Ways to Open an Account in Finvasia (Finvasia Account Opening)

  1. Online Account Opening (Instant & Paperless)
  2. Download & Print PDF Form
  3. Visit Finvasia Chandigarh Office

It's very easy to open an account and move your existing holdings to Finvasia. You could choose one of the options given below to open an account.

  1. Online Account Opening (5 Minutes Paperless Instant Account)

    Finvasia offers a web application 'Prism' for online account opening.

    You could open an online trading account instantly if you have your AADHAR linked with your mobile number. This paperless process has 2 main parts:

    1. eKYC (Know your customer)
    2. eSignature (Aadhar based electronic signature on your form)

    In eKYC, you don't have to fill a long KYC form, if you have done KYC with any other financial institution (i.e. bank or other broker) in recent time. Based in the basic info you share, all other information needed for KYC is pulled from Central KYC Database.

    The Aadhar eSign process provides a digital signature to your account opening form. This works only if you have the correct phone number linked to Aadhar and can confirm that through OTP. This is the fast, safe and convenient way of opening trading and demat account.

    Steps for digital account opening (online trading and demat account)

    1. Register to Finvasia online account opening website
    2. Provide your basic info like name, date of birth, PAN Number etc for eKYC (Know Your Customer)
    3. Verify the information pulled from Central KYC Registry
    4. Validate your Aadhaar OTP to fetch your details from UIDAI
    5. Electronically sign the account opening documents.
    6. On receipt of the confirmation to the eSigned form, your account gets opened.

    Note: In some cases, the customer may have to attach few electronic documents including a copy of your PAN Card, Photo, Bank Statement etc.

    Benefits of opening the paperless instant account with FINVASIA

    • The paperless process makes account opening hassle-free.
    • If you could verify OTP send to AADHAR linked phone number, the account opening takes just a few minutes.
    • Support documents are also digitally signed. No printing or signing documents.
    • It is fast, secure and a convenient process.
  2. Download PDF Forms

    If you would like to open account offline by filling up the forms, the PDF Account Opening Forms are available online on Finvasia website. Assistance is available to you over the phone to guide you through the complete account opening process.

    You could download, print, fill, sign and courier the forms along with the required identity proof documents to Finvasia Chandigarh office. If all the documents are in correct order, the account is opened within 2 days of receiving the forms.

    This process is less preferable as it takes a longer time to an open account.

  3. Visit Finvasia Chandigarh Office Branch

    Finvasia is located in Chandigarh. You could always visit their office to open an account with them.

Account Opening Specials

Free Account Opening (Trading + Demat Account)

Finvasia has a special offer running for you to open the 2-in-1 account (Trading + Demat Account) for free. This limited time offers to save over Rs 1000 in comparisons to other brokers.

Check Account Opening Status with Finvasia

Once you submit the online account opening application, you could check the status of your account opening process by re-login to the same website (Prism).

Go to 'Login' link in header >> Prism >> Login

Finvasia Account Opening PDF Forms

Most customer opens account online as its instant, paperless, east and convenient. But in case the system is down or for some other reason, if you would like to open an account offline, you could always download the account opening form in PDF.

Finvasia PDF Forms are available at.

Finvasia Website >> Tools >> Downloads

Finvasia Account Closing

Finvasia offers trading and demat accounts to its customers. If you are using these accounts, it is recommended to close them to avoid misuse and AMC changes.

Steps for Finvasia Accounts Closing:

  1. Call Finvasia customer service to get the PDF of Account Closure Request Form.
  2. Print the form, fill it, sign it and send it to Finvasia Chandigarh office.
  3. The application is processed in 3 days.
  4. The balance fund and demat holdings are transferred to the designated account mentioned in the account closer form.
  5. The account closure intimation and final statement of the accounts for the fund and demat holdings are sent to the client through registered post.

Please Note:

  • The PDF Account Closure Form is not available online.
  • The account cannot be closed online, through email or through phone calls.
  • The physically signed application form should be submitted.
  • If there are multiple account holders on the account, each one has to sign on account closing form.

Note that follow-up for account closure is important. If you do not get confirmation in 15 days, contact the customer support to check the status.

Finvasia Account Opening Charges

Customer pays account opening fee for trading account opening with Finvasia. The account opening fees are as below:

  • Finvasia Account Opening Charges (Trading Acct): ₹0 (Free)
  • Finvasia AMC Charges (Trading Acct): ₹0 (Free)
  • Finvasia Account Opening Charges (Demat Acct): ₹0 (Free)
  • Finvasia AMC Charges (Demat Acct): ₹0 per year (Lifetime Zero AMC)

FAQ's

  1. Does Finvasia offer zero brokerage trading?

    Yes, the brokerage charges are absolutely Rs 0 or 0% for all trades in equity and F&O's at BSE, NSE, and MCX. Customers only have to pay taxes. Their in-house build trading platform Scalpert is also available for free. It has a website and mobile app for trading. If you are planning to use advanced trading platforms like the NEST, you may have to pay a monthly fee for them.

    Discuss this question

  2. How Finvaisa makes money?

    Finvasia is a financial service provider in India. Company offers (or have the plan to offer) a wide range of financial services to its customer.

    The online stock trading is offered at free of cost to the customers. They don't charge any brokerage for trading on BSE, NSE, and MCX. The current business model seems unsustainable considering the high cost of customer acquisition, operations cost, cost of technology and employees.

    As per the management, the company have plans to use this strategy to make as many customers as possible and later sell them other paid financial products like margin funding, loans, insurance, mutual funds, depository services, clearing services, asset management, investment banking and many more.

    Discuss this question

Information about Finvasia account opening, Finvasia open account, Finvasia opening charges, Finvasia account opening charges, Finvasia account opening status, Finvasia amc charges, Finvasia account charges and Finvasia account closure.

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