Shoonya by Finvasia Review

With financial services spread across 14 countries, Finvasia is a technology-based stock broker offering a wide variety of financial products and services including equity, currency and commodity, asset management, investment banking, advisory, and currency hedging.

Incorporated in 2016, Shoonya by Finvasia is a first-of-its-kind broker in India that offers commission-free trading on all segments and all exchanges in India.

Key Takeaways:

• Shoonya by Finvasia offers commission-free trading across all segments and exchanges in India.
• Powered by Prism technology, Shoonya provides user-friendly platforms and various services like SMART and I Know First.
• While lacking some features like a 3-in-1 account and margin funding, Shoonya's advantages include zero fees and quality customer support.
• Compared to other discount brokers, Shoonya stands out with its commission-free model and additional services.

What is Shoonya by Finvasia?

Shoonya by Finvasia is a discount broker that offers commission-free trading on all segments and all exchanges in India. This means that you can trade stocks, derivatives, commodities, and currencies without having to pay any brokerage fees. Shoonya also does not charge any account opening or maintenance fees, call and trade fees, or clearing fees. The only charges that you have to pay are the statutory charges such as taxes, stamp duty, exchange transaction charges, etc.

Shoonya's trading platform is powered by Prism, a cutting-edge technology that provides a seamless trading experience. Prism allows you to access TradingView charts to analyze market data and make informed trading decisions. You can also use Prism to view and manage your portfolio, orders, positions, holdings, margin, and funds. Prism is Shoonya's in-house custom client portal that allows clients to view and analyze their investments under a single login.

Shoonya Broker also offers other products and services, such as:

• SMART: A portal that helps you find and invest in direct mutual funds without any commission or hidden charges.
• I Know First: This is an artificial intelligence-based tool that provides daily stock forecasts and investment recommendations based on advanced algorithms.
• Shoonya API: A suite of APIs that allows you to integrate your trading strategies with Shoonya’s platform and execute orders programmatically.
• HFT/Algos: A service that enables you to automate your trading strategies and execute orders with high-frequency trading technology.

Shoonya also provides 24/7 customer support via phone, email, live chat, and the option to create a support ticket.

What are the advantages of Shoonya by Finvasia?

Shoonya has many advantages that make it an attractive option for both investors and traders. Some of the main advantages are:

• Commission-free trading: Shoonya does not charge any brokerage fees on any segment or exchange. This can save you a lot of money in the long run and increase your profitability.
• User-friendly platform: Shoonya's platform is easy to use and navigate. It has a simple and intuitive interface that allows you to access all the features and tools that you need for trading. You can also customize your dashboard, watchlist, charts, indicators, etc., according to your preferences.
• Free account opening and maintenance: Shoonya does not charge any account opening or maintenance fees. You can open a demat and trading account with Shoonya for free and enjoy zero AMC charges.
• Zero call and trade charges: Shoonya does not charge any fees when you call them to place any trade. You can use this service as many times as you want without worrying about any extra costs.
• Access to TradingView charts: Shoonya's platform integrates with TradingView and ChartIQ charts, which are some of the best charting tools available in the market. ChartIQ charts are enabled by default, but you can change your default charting option to TradingView or vice versa by changing your preference. You can use these charts to analyze various technical indicators, patterns, trends, etc. and make better trading decisions.

• Access to other products and services: Shoonya also offers other products and services that can enhance your trading experience and help you achieve your financial goals. You can invest in direct mutual funds through SMART, get stock forecasts and recommendations through I Know First, use APIs to automate your trading strategies through Shoonya API, or use HFT/Algos to execute orders with high-speed technology.

What are the disadvantages of Shoonya by Finvasia?

Shoonya is not without its drawbacks and limitations. Some of the main disadvantages are:

• Trading platform issues: According to some customer reviews, the trading platform can be slow at times and may not update the prices or orders in real-time. This can cause inconvenience and frustration for traders who rely on fast execution and accurate data.
• No 3-in-1 account: Shoonya does not offer a 3-in-1 account that integrates your bank account, demat account, and trading account. This means that you have to transfer funds from your bank account to your trading account separately and vice versa. This can be time-consuming and cumbersome for some traders.
• Other charges and fees: Although Shoonya does not charge any brokerage fees, you still have to pay for other charges and fees such as demat charges, taxes, software fees, etc. These charges can vary depending on the segment, exchange, and volume of your trades. You should check the details of these charges before trading with Shoonya Broker.
• No margin funding: Shoonya does not provide margin funding or leverage for trading. This means that you have to trade with your own funds and cannot borrow money from the broker to trade. This can limit your trading potential and risk-reward ratio.
• Online-only broker: Shoonya is an online-only broker that does not have any physical branches or offices for local support. So, you have to rely on their online customer service channels for any queries or issues. This can be inconvenient and unsatisfactory for some traders who prefer face-to-face interaction or personal assistance.

Shoonya Algo Trading

Shoonya Algo Trading is a platform designed to facilitate automated trading strategies. It allows traders to create, backtest, and deploy algorithmic trading systems. By automating trading decisions, Shoonya aims to improve efficiency, reduce emotional bias, and potentially increase profitability.

Key Features and Benefits of Shoonya Algo Trading:

• Algorithm Creation: Users can build custom algorithms using a variety of programming languages and tools supported by the platform.
• Backtesting: Algorithms can be tested against historical market data to assess their performance and identify potential risks.
• Paper Trading: Traders can simulate trading with real-time market data without risking actual capital.
• Live Trading: Once an algorithm is deemed suitable, it can be deployed for live trading.
• Risk Management Tools: Shoonya often includes features to help manage risk, such as stop-loss orders and position sizing.
• Integration with Brokers: The platform may integrate with various brokers, allowing for seamless execution of trades.

How Does Shoonya Algo Trading Work?

1. Algorithm Development: Traders create algorithms using programming languages like Python or C++. These algorithms define specific trading strategies, such as trend-following, mean reversion, or arbitrage.
2. Backtesting: The algorithm is tested against historical market data to evaluate its performance under different market conditions. This helps identify potential flaws and optimize the strategy.
3. Paper Trading: The algorithm is tested in a simulated trading environment to assess its real-world performance without risking actual funds.
4. Live Trading: If the algorithm performs well in backtesting and paper trading, it can be deployed for live trading. Shoonya's platform typically provides tools to monitor and manage live trades.

Note: While Shoonya Algo Trading can offer significant benefits, it's important to understand the risks involved. Algorithmic trading is not a guaranteed path to profit, and there are potential challenges such as market volatility, unexpected events, and the complexity of algorithm development.

How does Shoonya compare with other discount brokers in India?

Shoonya is one of the many discount brokers in India that offer low-cost trading services to investors and traders. Some of the other popular discount brokers in India are Zerodha, Upstox, 5paisa, Angel Broking, etc. Let’s see how Shoonya compares with these brokers. Let us look at some of the key parameters that can help us evaluate and compare these brokers.

Our Verdict

Overall, we believe Shoonya by Finvasia is a decent broking platform that provides a variety of products and services.

Shoonya provides commission-free trading on all Indian exchanges, allowing users to trade stocks, derivatives, commodities, and currencies without fees. It offers trading views, order slicing, bracket and cover orders, and shares pledging and unpledging to enhance decision-making and protect against losses.

With the above benefits, you also get the advantage of Zero AC opening charges, zero lifetime brokerage, SIP in stocks and ETFs, eDIS facility, 3000+ Direct Mutual Funds, and dedicated customer support to ensure informed investment decisions and prompt problem resolution.

Moreover, there is an exclusive partnership between Shoonya and ‘I Know First’ for Indian Traders. ‘I Know First’ is a well-known fintech company that offers sophisticated algorithmic forecasting solutions for the capital markets based on AI.

So, with this AI-driven feature, Shoonya provides its users with carefully picked top 60 I Know First AI stock picks with algorithm analysis of up to 1,500 stocks listed on Indian Exchanges, which are backed by extensive historical research.

And therefore, in conclusion, we can believe that Shoonya is a nice, considerable discount-broking platform.

Frequently Asked Questions

1. Is Shoonya trading App safe?

Generally, yes, the Shoonya Trading App is considered safe. It's a popular and reputable online trading platform in India, backed by Finvasia, a well-known brokerage firm. 

Here are some factors that contribute to its safety:

• SEBI Registration: Shoonya is registered with the Securities and Exchange Board of India (SEBI), which ensures it adheres to specific regulatory standards.
• Data Security: The app employs security measures like encryption to protect user data and prevent unauthorized access.
• Two-Factor Authentication (2FA): This adds an extra layer of security by requiring a code from a separate device beyond just a password.  
• Customer Support: Shoonya provides customer support channels to assist users in case of any issues or concerns.

2. Is Shoonya better than Zerodha?

The choice between Shoonya and Zerodha often depends on individual preferences and trading styles. Both platforms are reputable and offer a range of features for online trading.

3. How long does it take to withdraw from Shoonya?

You have the option to initiate a payout using Shoonya Pay-out (Please note that this action cannot be cancelled as it is automatic).

1. For Shoonya WEB: Navigate to Funds Transfer, select Pay Out, enter the amount, choose the bank (if you have multiple banks linked), and click on Withdraw.
2. For Shoonya desktop version (EXE): Access Funds, choose Payout, enter the amount, and submit.
3. For Shoonya Mobile App: Go to Funds Transfer, select Withdraw funds, enter the amount, choose the bank (if you have multiple banks linked), and click on Withdraw Funds.

If you request a payout between 08.30 AM and 5:00 PM, we will process it on the same day (subject to the peak margin). In certain cases, it may take up to 24 hours.
Please note that no Payout or withdrawal requests will be processed on Saturday, Sunday, and Exchange Holidays.