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Finvasia Complaints

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Finvasia is India based technology-driven financial service provider. Finvasia offers a wide range of financial services in India and 14 other countries. The key offerings include retail trading in equity, currency and commodity, asset management, investment banking, advisory, and currency hedging. Finvasia cater to retail, institutional and foreign customers. Honest Pricing. Leading-edge Platform. Exceptional Service. Finvasia Founders Finvasia Securities is based in Chandigarh, In...

Complaint against Finvasia Broker

Finvasia brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Finvasia customers. The Finvasia complaints report analyzes the Finvasia online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Finvasia broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Finvasia complaint no. report also provides Finvasia’s number of active clients. This shows the growth of the broker year on year.

Finvasia Complaints

Exchange	Financial Year	Total Complaints	Active Clients
NSE	2022-23	2	28,283
BSE	2021-22	2	3,115
NSE	2021-22	47	24,293
NSE	2020-21	44	12,018
BSE	2019-20	2	356
NSE	2019-20	15	5,697
NSE	2018-19	4	3,335
NSE	2017-18	8	1,998
NSE	2016-17	2	894
NSE	2015-16	1	617

Finvasia complaint at NSE

	2022-23	2021-22	2020-21
Active Clients	28283	24293	12018
Complaints	2	47	44
Resolved through the exchange	1	42	33
Non actionable	1	5	7
Advised / Opted for arbitration	0	0	0
Pending for redressal with exchange	0	0	4
No. of arbitration filed by clients		1
Decided by arbitrators in favour of the clients		1
Decided by the arbitrators		1
Pending for redressal with arbitrators		0

Finvasia complaint at BSE

	2021-22	2019-20
Active Clients	3115	356
Complaints	2	2
Resolved through the exchange	2	1
Non actionable	0	0
Advised / Opted for arbitration	0	0
Pending for redressal with exchange	0	1
No. of arbitration filed by clients	0	0
Decided by arbitrators in favour of the clients	0	0
Decided by the arbitrators	0	0
Pending for redressal with arbitrators	0	0

Note:

* Including against its sub brokers, authorised persons, employees, etc.
** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

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21 Comments

21. d.K yadav

| Link | Jul 28, 2022 3:35:54 PM Reply

Finvesia is a Scam. *************DO NOT OPEN YOUR ACCOUNT WITH FINVASIA********

20. Suhas Shivalkar

| Link | Jul 13, 2022 2:08:01 PM Reply

Stop loss never works.

I have to enclose screenshot.

The staff just copy paste.

Even my earlier complaint not entertained.

Their USP is NO BROKERAGE.

MUST FIND ANOTHER WITH NO BROKERAGE

19. Suhas Shivalkar

| Link | Jul 4, 2022 1:24:35 PM Reply

FINVASIA' S ONLY USP IS NO BROKERAGE.
THEIR STAFF IS ARROGENT AND DO NOT BOTHER TO SOLVE THE PROBLEM.
THEY JUST COPY PASTE AND SAYS OK.

NOW THEY EVEN DID NOT ATTEND THE CHAT.

THEIR STAFF WILL CALL YOU AND DID NOT COMMIT ANYTHING. I ASKED THEM TO WRITE ME A MAIL. WHICH THEY AVOID.

I HAVE SCREEN SHOTS OF THEIR NEGLEGENCE.

18. Pramod Gupta

| Link | Mar 31, 2022 8:23:59 AM Reply

their response and support is worst I have experienced.. I have reported many times some flaw and some essential menu not working in their shoonya version that seems to be beta version for last one year .. neither it shows order book even after pressing f3 nor it shows trade book even after pressing f8 key .. in absence of that its too difficult , and even after pursuing for many days no response is made.. and telephone calls do not materialise even after ringing for hours..

17. Madhupa Chakrabarty

| Link | Feb 23, 2022 9:50:30 AM Reply

'पहले इस्तेमाल करें फिर विश्वास करें'

16. Kunal Ravikiran Rumde

| Link | Dec 6, 2021 9:27:15 AM Reply

Very bad service. 2 Din se account nhi chal raha hai. Call kiya to recieve nhi karte. Bahut hi nirash hu. Aisa hoga to kaise Trade karenge? Plz owner ko batao koi ye baat.
Bad experience mila mujhe.

15. SANTOSHKUMIAR

| Link | May 2, 2020 3:07:05 PM Reply

I have an account in your securities . My id is FA20561.I DEPOSITED RS 2000. BUT IT IS NOT REFLECTING.

15.1. Abhishek Yadav

| Link | Oct 18, 2021 10:03:08 PM

i Have Opened Today Account In Finvasiya Rs 701 But Not Reflected In My Account Of Shoonya I Don't Think This Broker Will Cheat Verry Bad Service Don't Use

14. Pushpalata Shukla

| Link | Dec 29, 2019 4:45:45 PM Reply

I m in market for last 20 plus years and trading with Finvasia for last 3 years.
I found Finvasia the best .
Only one staff is proudy and pays less attention otherwise all is well.
If u r in any difficulty contact client support.
In nutshell I shall give 8 out of 10 marks
One R M is proudy and non cooperative but u can get rid him off after u recognize.

14.1. sandeep varma

| Link | Oct 4, 2021 1:33:19 PM

Are you employee of Finvasia who is taking their side. I can share the evidence that i created for the buggy website and the app they created, there IT team is worse than the govt department of BSNL. your comment seems a fake one. i have been using this app for 3 months now and seen frequent bugs and has been very much buggy. The basic features do not work as it is mentioned. I will not recommend this broker to anyone i know, infact i have just adviced and helped opening accounts for 10 - 15 friends of mine in Zerodha, Angel, and ventura. their app is many times far better than finvasia's.

14.2. Mack Fernandes

| Link | Oct 15, 2021 12:07:52 AM

i am diagree with u.....dont make foolish to people finavia is very very poor in service....dont go with finsavia

13. Kumar

| Link | Oct 6, 2021 8:12:44 PM Reply

For people thinking of opening account with Finvasia, better stick to Zerodha and other discount brokers. One time glitch can erode away lacs of rupees. For long term investors, you wont save much with zero brokerage from Finvasia. I faced issues with Tradetron algo trading with Finvasia. They Shoonya app is not user friendly. They cant even provide what are the open positions while trading.

13.1. Sachin Kumar

| Link | Oct 11, 2021 6:33:04 PM

Does zerodha not have any issue? Never?
All the broker have issue some time.

12. shweta

| Link | Oct 11, 2021 10:11:56 AM Reply

shoonya app is not taking order, error is server not connected to NSE at 9.30am but it was connected from 9am. If it was not connected then trade should not execute in the morning itself. Who will bear loss in such case? even customer care number was busy for half an hour. they said we can not enter order right now because of IT problem. And they ask me to connect to IT.

11. k sandeep varma

| Link | Oct 4, 2021 10:53:16 AM Reply

After reading complaints also i made the mistake of opening the account just got trapped by the charges that charge which is lowest among all brokers. I want to shift the account now. It is not worth, the app and application is very buggy. Today is 10 Oct 2021 and their app is not working nor is their web application. I am not sure how can this company be so careless in having the worst application. I have had accounts in 3 brokers and since i did not close, i can check other applications and can easily state this is the worst among the lot.

10. Sachin Nivrutti Gaikwad

| Link | Sep 7, 2021 8:24:20 PM Reply

I have very very bad experience. I took position and when I tried to sqareoff it shown me error 'Transit' in order . I was seen profit in to loss. I tried to call customer care but they not respond. After 25 min it shown me ' expire' and after that I sqareoff my position. I request to finvasia kindly take some help from reputed broker to solve queries off your app.

9. Raghav

| Link | May 5, 2021 10:31:23 PM Reply

hi,
I was using there platform, let me tell my experience.
In short: Very Very Bad

My positions were running into loss so, I left it open.
But when I logged in next day I was shocked to find that all my positions were converted into a single position at a different strike price.
Don't fall for there free brokerage trap.

8. Mohan Rathod

| Link | Jul 24, 2020 6:49:54 PM Reply

Sir iam Mohan Rathod( Solapur Maharashtra) having the demat and trading account with you (finvasia) since 2 years. And my code is FA9440.
Hence I have the strong complaints against finvasia securities.... Are as below...
1. Since five months iam trying to contact you on the phone but no one is giving any response.
2. Even iam sending messages via watsup, but no one is seeing those messages.
3. And in my demat account there is arround ₹ 60 k amount stocks are laying. And even I couldn't sell because of ( POA).
4. And i actually wanted to re activate my account for trading and to sell my delivery.
But there is no one properly responsible person to handle the case.
5. And some times some one lifting the phone but no proper response or guidance.
6. So with seeing all this iam fedup with the company. And also I can close my account or else I may complete at local police commissioner concerned.
So I think this my message can do better for me and even the company.
And waiting for your earliest response from your end..... Thanks.

7. vikas

| Link | Jun 30, 2020 2:11:32 PM Reply

My balanced review after a week with Finvasia. Account opening process was ok. Not intuitive. I feel there should be a proper presentation to take us through the account opening process. It could be an interactive presentation on their web or a proper video. Finally through guidance of RM I was able to complete the process.
Software : The Scalpert on Web is from the stone ages. I think it was developed as a one time project. There should be a development team which constantly keeps updating. Scalpert mobile app is full of bugs. Forget technical analysis on any of its software. Nest platform also has problems. not so user friendly. Since they try to work on Zero brokerage I think development of software is non existent. I took back my money and went back to my old broker. But still you can give it a try as you dont have to lose money trying.

6. PREM CHANDRA

| Link | Mar 30, 2020 1:35:57 PM Reply

my ID 19529
NON CREDIT OF FUND
TODAY ON 30.03.2020 AT ABOUT 12.30 PM I TRANSFERRED RS.500 THROUGH SCALPART NET BANKING BUT MY ACCOUNT IS NOT REFLECTING. PLEAS SOLVE THE PROBLEM IMMEDIATELY TO ENABLE ME TRADING.

5. Venky V

| Link | Mar 23, 2020 11:43:44 PM Reply

Folks. After NSE circuit break today, these are my observations on my account.

One lot of ONGC 40 PE 26th March......went kaput....just disappeared from the system
Two lots of ONGC 40 PE 26th March (bought to cost average my losses) mysteriously changed strike price to 35 and promptly squared off (and I use my own money.....no MARGIN and no need for any square off) resulting in a loss

Wrote to them to audit my account and make my money and options good.

Else, have to complain to NSE or SEBI.........learnt folks....help me on approaching FinVasia and other competent authorities for rectification.

Any help is appreciated. Thanks!!

4. Manish Agarwal

1 |

| Link | Jan 16, 2020 11:03:05 AM Reply

Poor Broker, there is no free lunch in this world.Better to check local broker.

4.1. Narendra

| Link | Mar 17, 2020 1:43:03 PM

Sir aapne reception per jo bhi bande bitha rakhe h vo bina response ke phone disconnected kar dete h

3. Subhash saxena

| Link | Mar 2, 2020 10:38:23 AM Reply

I have purchased shares in pidilite 50, Sbi 25 and Vedanta 400 but the shares are shown less pidilite 30 Sbi 25 and Vedanta 300 only. I am trying to contact customer care but nobody is picking phone. Where should I complain for finvasia please tell someone to me.

2. Kuldeep Prajapati

1 |

| Link | Dec 13, 2019 9:41:29 AM Reply

It's been 8 to 10 days I have started process of account opening in finvasia and I am getting no reply from the team. I have requested and call back to whom I spoke ms. Bhavna baliyan but no reply on calls or SMS. Very very very pathetic service I am getting in account opening...and I am imagining what if I get similar things while doing trade or in worst case scenarios..these people are not listening in even account opening then what they would do if I have problems in my share for trading. Such a WORSE service. You must be SHAME for making fools to customers..this time limits were in paper processing time not in online. I have submitted all documents in email.

2.1. Manish Agarwal

| Link | Jan 16, 2020 10:58:23 AM

Yes, same happens to me, I had submitted application for opening of account with original documents, but broker refused after a one and half month due to multiple rejections, also there is clause in application form if you close the account, broker withheld upto Rs. 10000/-,so this is not free broker, even they refused to returned my documents and claimed that signature not matched and if I do online application there is no necessity of submitted the documents.Customer Relationship Manager said that they will tore my cheque, and this is their previlage.