Finvasia Complaints

lucky i closed my account with them, im very happy with my zero broker flattrade ..now... even i lost close of 10% of my capital just becoz of such things from finvasia...

hello friends,
I will rate customer service as ZERO. No one responds from shoonya for any issue raised. I am struggling to download my Tax P&L report to file my IT return for past 1 week. funny part is shoonya donot even respond to the email. I have used their all the escalation levels. funny part is contact number mentioned to their CEO lands up to their customer support and it seems they donot have any grievance mechanism. I have stopped trading from finvasia starting today 21-July-2023. Please never fall in trap for cheap brokerage. go for better customer service which other brokers are proving like ZERODHA,KOTAK,ICICIDIRECT,HDFC etc. Please do comment me if my feedback here helped any of retail investors with their hard earned money. One more thing with the 0 brokerage you end up taking more trades and end up paying more STT and end up losing side. Good luck.Happy Trading.
DONOT FALL IN TRAP FOR CHEAP BROKERAGES BUT LOOK FOR BETTER CUSTOMER SERVICES.

Fraudulent action on the client account by Finvasia under the guise of technical glitch.
Complaint sent to Finvasia on 15.4.23.
Dear Sir/Madam,
I am writing this legal notice to bring to your immediate attention the egregious, unprofessional and unacceptable conduct of Finvasia Securitites Private Limited (‘Finvasia’). On 13.04.2023 the Finvasia fired dummy orders in my client account FA104607 without my knowledge or consent. Despite several attempts to contact Finvasia during market hours, there was no response or communication from Finvasia end. The technical glitch orders were ultimately squared off with profits worth Rs. 7,27,901.25 EOD, however, the next day, the Finvasia tampered with my account and showed a loss of Rs. -524,053.51 leading me to a massive manipulated financial losses. I am extremely appalled and outraged by the flagrant and blatant disregard for my rights and interests as a client. The actions of Finvasia are illegal, unethical and amount to a complete breach of trust and duty.
I would like to put on record categorical that on13th April, after a few successful trades, the only trade initiated by me was trade nos. 520518895, 520518896 and 520518898 which were squared off at 13.59 hours (Please see my contract note). All other positional trades were fired by the technical glitch on my account to which Finvasia did not provide any solution. Till EOD my portfolio was showing a profit of 7,27,901.25 (both total MTM and day’s MTM), then how on 14th April it was shown as minus? This is an utterly fraudulent act by the Finvasia. As a result of Finvasia’s gross negligence and wilful misconduct, I am shown as having suffered substantial financial losses to the tune of Rs. 5.65 lakh.
As a retired person, I ventured in to options trading with a view to learn and earn a decent income to support my family and in the process over last three months I have incurred losses of Rs. 2 lakh.
I demand an immediate and full refund of losses incurred due to the reckless and irresponsible actions of Finvasia. I expect the refund of Rs. 5.65 lakh with a compensation of Rs. 1 lakh totalling an amount of Rs. 6.65 lakhs by the end of Monday, 17th April, 2023. If Finvasia fails to settle this amount by Monday EOD, the Finvasia will be liable to pay a penalty of Rs. 5000 per day. Please settle this amount by Monday EOD and avoid further damages. Already my trading is blocked for want of this untoward settlement.
In light of the foregoing, I demand that Finvasia immediately acknowledge the gravity of its actions and provide a comprehensive and satisfactory resolution to this matter. Failure to do so may result in legal proceedings being initiated against them without further notice.
Please note that this notice is being sent without prejudice to any legal rights and remedies that I may have in law or equity.
Thank you for your attention to this matter.
Sincerely

[Ambadas Huchche]

I am never trading on finvasia again. My whole capital was at risk yesterday.

I don't regret missing the bullish rally in BN because I could have ended up in huge loss as the square off or cancel order was not working.
Apart from open positions there were some pending orders and I was sitting in front of screen totally helpless not able to do anything. Their customer support was not responding neither mail nor calls.
I logged into my account today in order withdraw my funds but the funds section is blank, my whole profile is blank. They are not able to resolve the issue even after 24 hours.

i lost 10000 since morning my order not square off in time because of your system not working I decide to go to counsumer court

i lost more thn 40k and still positions open and additional position added by broker. showing 5L+ traded with open position when i had oly 90k in my account. Also today is expiry. what will happen after expiry. any advise.

I unable to square off and finally what I traded is bacame zero.brorher how to approach sebi and court pl give information.
No customer service.
Simply they sent letter apologies for what happened.
Who bare the losses

I've lost 84000 today, it never allowed us to Square off the Position either.
Was sitting helpless, was able to do nothing other than watching the loss.
Tries to square off multiple times thought the market hours, not even a single time, it allowed to punch the orders.
Worst experience, I would prefer to go with some other Broker even when there is a brokerage, rather than risking my capital on this Broker just to save the Brokerage cost.

Finvasia seems to have low technical advancement's as compared to other broker, though for today, faced a chunk of loss due to their technical glitch, let's see if they entertain our grievances or not! If not then they better pull down their shutter.

Today was a very bad day with finvasia trading platform. It threw errors and shows some trades which were never placed
It shows mtm loss of 77k Not sure how to proceed
Customer care never answers

Today orders are not punched after 1030 hrs in Finvasia. As today is the expiry day mostly writers are trapped in this glitch. But they massaged it on priority. People have open position on selling side, they might have huge loss today.

Your connection to NSE is sending corrupt packets, because of which NSE server is throwing exception and orders are not executed since about 10:30AM today and the problem persists even now as of 2pm.

I am using Finvasia since 1yr+, I am 100% satisfied, I am surprised reading comments below.
Very simple and fast app, i never face any issue using it. plus their USP is very fast money transfer with in seconds IMPS payment gotupdated in account plus same day withdrawl provided request placed before 4.00 pm .
I have used 10s of other brokrages since last 9-8 yrs, so i know the service standard in this industry
It seems fake to me.

I won't blame them as much as others are doing here. Their mobile and web application are reasonably good but not comparable with other brokers like zerodha. The best part is that they won't charge brokerage and thus very economical. But they do not respond on email. They simply close the complaint saying that they tried to contact on phone. Someone avoiding email and trying to speak over phone is most likely a fraudster. The GTT order placed by me is not visible and the chat agent says there is one active GTT order. They are refusing to send confirmation of GTT orders on email. And I do not see any GTT orders on screen under the relevant tab. So BEWARE. PARTICULARLY IF YOU INTEND TO TRADE WITH A BIGGER CAPITAL. IT IS NOT FOR PROFESSIONAL TRADING CERTAINLY AS ORDER EXECUTION IS ALSO TOO SLOW.

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

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

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.

'पहले इस्तेमाल करें फिर विश्वास करें'

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.

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

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.

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.

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

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.

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.