Finvasia Consumer Complaints

Finvasia Detail

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... Know more about Finvasia

Complaint against Finvasia Broker

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Finvasia brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Finvasia customers. The Finvasia consumer 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 Consumer Complaints

Exchange Financial Year Number of Clients   ? Total Complaints  ?
NSE 2020-21 7,889 14
BSE 2019-20 356 2
NSE 2019-20 5,697 15
NSE 2018-19 3,335 4
NSE 2017-18 1,998 8
NSE 2016-17 894 2
NSE 2015-16 617 1

Finvasia complaint at NSE

2020-212019-202018-19
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year
No. of active clients788956973335
No. of complaints received *14154
Resolved through the exchange11124
Non actionable **320
Advised / Opted for arbitration000
Pending for redressal with exchange010
No. of arbitration filed by clients1
Decided by arbitrators in favour of the clients1
Decided by the arbitrators1
Pending for redressal with arbitrators0
% of No. of complaints as against No. of active clients0.170.260.11
% of complaints resolved as against complaints received10093.33100

Finvasia complaint at BSE

2019-20
Defaulter Yes/NoNo
No. of clients at the beginning of the year3636
No. of active clients356
No. of complaints received *2
Resolved through the exchange1
Non actionable **0
Advised / Opted for arbitration0
Pending for redressal with exchange1
No. of arbitration filed by clients0
Decided by arbitrators in favour of the clients0
Decided by the arbitrators0
Pending for redressal with arbitrators0
% of No. of complaints as against No. of active clients0.56
% of complaints resolved as against complaints received50

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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12 Comments

Mohan Rathod
12. Mohan Rathod  Jul 24, 2020 18:49 I Like It. | I Don't Like It. | Report Abuse 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.
vikas
11. vikas  Jun 30, 2020 14:11 I Like It. | I Don't Like It. | Report Abuse 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.
SANTOSHKUMIAR
10. SANTOSHKUMIAR  May 2, 2020 15:07 I Like It. | I Don't Like It. | Report Abuse Reply
I have an account in your securities . My id is FA20561.I DEPOSITED RS 2000. BUT IT IS NOT REFLECTING.
PREM CHANDRA
9. PREM CHANDRA  Mar 30, 2020 13:35 I Like It. | I Don't Like It. | Report Abuse 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.
Venky V
8. Venky V  Mar 23, 2020 23:43 I Like It. | I Don't Like It. | Report Abuse 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!!
Manish Agarwal
7. Manish Agarwal  Jan 16, 2020 11:03 I Like It. 1 | I Don't Like It. | Report Abuse Reply
Poor Broker, there is no free lunch in this world.Better to check local broker.
Narendra
7.1. Narendra  Mar 17, 2020 13:43 I Like It. | I Don't Like It. | Report Abuse
Sir aapne reception per jo bhi bande bitha rakhe h vo bina response ke phone disconnected kar dete h
Subhash saxena
6. Subhash saxena  Mar 2, 2020 10:38 I Like It. | I Don't Like It. | Report Abuse 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.
Kuldeep Prajapati
5. Kuldeep Prajapati  Dec 13, 2019 09:41 I Like It. 1 | I Don't Like It. | Report Abuse 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.
Manish Agarwal
5.1. Manish Agarwal  Jan 16, 2020 10:58 I Like It. | I Don't Like It. | Report Abuse
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.
Pushpalata Shukla
4. Pushpalata Shukla  Dec 29, 2019 16:45 I Like It. | I Don't Like It. | Report Abuse 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.
KULDEEP PRAJAPATI
3. KULDEEP PRAJAPATI  Dec 18, 2019 12:26 I Like It. 1 | I Don't Like It. | Report Abuse Reply
Dear all new comers.. Never pay attention to those zero AMC and all messages. The all other positive reviews are paid. You will not find the right review from the online reviews. These guys have no time for their customers even for account opening. My broker(Ms. BHAVNA BALIYAN) cut my call 2 times though I have sent all documents to them.
A VERY VERY VERY VERY VERY PATHETIC EXPERIENCE AT THE STARTING. Now I am shifting to Zerodha.
All have to know the rule that "There are no free lunches in the world."

Don't pay attention to paid reviews write by idiots.
ramesh
2. ramesh  Jun 5, 2018 11:57 I Like It. | I Don't Like It. 1 | Report Abuse Reply
since two months I am doing trading in Finvasia, I can say One of the all time Best Discount Broker in India which support( IPO, MUTUAL FUNDS free of cost) when compare to zerodha.

Pros
1) No AMC cost,account opening charges.
2) No Brokerage cost,free on all Segments( Equity,F&o, MCX).
3) Trading Platform (scalpert) is one of the best software for Web/mobile.
4) Customer support is one of the majore advantage,staff is supportive and friendly in chat/call. Directely call connects no hold etc.
5) Fund add within 10mins via Bank (NEFT/IMPS) on both call/chat.
6) Every month RM Team will call and take feedback.
7) Detailed Trading report forwarded through SMS and email at the end of the day. (The detailed sms report is very useful)
8) No clearing charges.

Cons:
1) Intrady leverage is very low.
2) No stock buy/sell suggestion.
Manharlal Popatlal Shah
1. Manharlal Popatlal Shah  May 29, 2018 16:32 I Like It. 1 | I Don't Like It. | Report Abuse Reply
I have sent Rs.20000 through neft to Finvasiasecurities pvt ltd.on 16/11/2017
i have purchased 15 endurance technology share @Rs 1150/-hense balance
Rs. 2750/-should be there.NOW there is only 14 shares of endurance technologies ltd. I am trying to contect the official. unfortuatly no response








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