Broker shopping is a serious business, and finding the broker that best suits your trading needs depends on a number of factors. Of course, you can always trust the experience you had trading with a particular broker. But the most important things you should be looking for is commissions and the associated costs.
And when we talk about commissions, Finvasia and Zerodha are the first two names that come to your mind. Finvasia is the first zero brokerage broker and Zerodha the first discount broker India had.
After researching thoroughly, thought will compare these two torch bearers. The touch points of the comparison are few key factors and here they are:
An interesting things to note here is though Finvasia is the only broker that offers zero brokerage, while searching online, Zerodha’s name crops up not Finvasia. So clear the air, Finvasia is THE ONLY broker that offers commission free trading on all segments they offer, while Zerodha only offers zero brokerage on equity delivery. For trading other segement with zerodha, you will have to shell out Rs 20 per trade or 0.01% whichever is lower.
Attached is the image (https://www.finvasia.com/calculators)
We all know that Zerodha provides cheapest brokerage for trading. But Finvasia brokerage is "NON-EXISTENCE". It is literally zero. Finvasia takes the lead here.
I got in touch with both the brokers and here’s what each quoted me as account opening charges. With Finvasia there are no trading account opening charges and no AMC charges and even for opening a Demat account, there are no charges and the AMC fees for the Demat account are also waived off. And if you wish to set up an account with Zerodha, Trading account opening charges are Rs 200 and 300 if you wish the form to be couriered. There are no AMC charges in for account. You will also have to shell out Rs 100 if you wish to set up a Demat account and an annual Rs 300 as Demat AMC charges. It clear that Finvasia is far more cost effective if we are looking for a broker to cut costs.
Both the brokers offer similar exposure to its clients to trade, where Finvasia offer 10X leverage for equity intraday and Zerodha offers upto 20X leverage in equity futures.
Zerodha offer Pi, Kite Web and Kite Mob app along with NEST to trade. And you can trade on NOW, NEST, AMI Broker, Presto, Blitz, Scalpert web and Scalpert Mobile with Finvasia.
Finvasia offers phone, live chat and online ticketing support whereas Zerodha only offer email and phone support. From what I have researched, Finvasia’s support team does quite a job with regular follows and client query solving. Some clients even complain they call too many times to check if everything is fine. On the other side, Zerodha support services have deteriorated over time to the point that the team does not entertain client calls if there is any issue they do not have answers for or where they are at fault.
Summing it up, Finvasia stacks up better than Zerodha in the factors compared. You can visit each broker’s website and do your due diligence. I rate Finvasia a 5 on 5.
