Finvasia broker Accounts

finvasia Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

finvasia Account Types Explained

Finvasia offers a variety of account types tailored to meet the needs of different traders, from beginners to advanced users. Below is a detailed overview of the available account types:

1. Standard Account

• Minimum Deposit Requirement: ₹0
• Spread/Commission Structure: Zero brokerage on equity delivery; ₹5 or 0.03% (whichever is lower) for intraday trades.
• Leverage Options: Up to 1:20
• Key Features: No annual maintenance charges, no hidden fees, and access to a wide range of trading instruments.
• Target User Profile: Beginners and casual traders.
• Trading Instruments Available: Stocks, ETFs, mutual funds, bonds, and more.

2. ECN Account

• Minimum Deposit Requirement: ₹5,000
• Spread/Commission Structure: Raw spreads from liquidity providers; commission-based on trading volume.
• Leverage Options: Up to 1:100
• Key Features: Direct market access, lower spreads, and faster execution.
• Target User Profile: Advanced traders and professionals.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

3. Pro Account

• Minimum Deposit Requirement: ₹10,000
• Spread/Commission Structure: Competitive spreads with a low commission per trade.
• Leverage Options: Up to 1:200
• Key Features: Advanced trading tools, priority customer support, and access to exclusive market insights.
• Target User Profile: Professional traders and institutions.
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies.

4. Islamic Account

• Minimum Deposit Requirement: ₹0
• Spread/Commission Structure: Similar to the Standard Account but without swap fees.
• Leverage Options: Up to 1:20
• Key Features: Swap-free trading to comply with Islamic finance principles.
• Target User Profile: Muslim traders seeking compliant trading options.
• Trading Instruments Available: Stocks, ETFs, mutual funds, and more.

5. Demo Account

• Minimum Deposit Requirement: Virtual balance provided (typically ₹1,000,000).
• Spread/Commission Structure: Same as the Standard Account.
• Leverage Options: Up to 1:20
• Key Features: Risk-free trading environment to practice strategies and familiarize with the platform.
• Target User Profile: Beginners and traders testing new strategies.
• Trading Instruments Available: Same as the Standard Account.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Standard Account
• Intermediate Traders: ECN Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account
• Practice: Demo Account

Detailed finvasia Account Features

Account Features Comparison

Advantages of Each Account Type

• Standard Account:

• No minimum deposit requirement.

• Zero brokerage on equity delivery.

• User-friendly for beginners.

• Access to a wide range of instruments.

• ECN Account:

• Direct access to the market.

• Lower spreads and faster execution.

• Suitable for high-frequency trading.

• Flexibility in trading strategies.

• Pro Account:

• Advanced trading tools and analytics.

• Priority customer support.

• Competitive trading conditions.

• Ideal for professional and institutional traders.

• Islamic Account:

• Complies with Islamic finance principles.

• No swap fees.

• Suitable for Muslim traders.

• Access to the same instruments as the Standard Account.

• Demo Account:

• Risk-free environment for practice.

• Virtual funds to test strategies.

• Familiarization with the trading platform.

• No time limits on practice trading.

Disadvantages of Each Account Type

• Standard Account:

• Limited advanced features compared to Pro and ECN accounts.

• Not suitable for high-frequency traders.

• ECN Account:

• Requires a higher minimum deposit.

• Commission fees can add up for low-volume traders.

• Pro Account:

• Higher minimum deposit requirement.

• More complex features may overwhelm beginners.

• Islamic Account:

• Limited to specific trading instruments.

• May not offer all features available in other accounts.

• Demo Account:

• Virtual funds do not reflect real trading conditions.

• Limited to practice; cannot be used for live trading.

finvasia Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of India and select international locations.
• Prohibited Countries: Specific countries may be restricted due to regulatory requirements (not specified in sources).

Identity Verification Documents Needed

• Proof of Identity: Government-issued ID (Aadhar card, passport, voter ID).
• Proof of Residence: Utility bill, bank statement, or rental agreement.
• PAN Card: Required for tax identification.

Additional Documentation for Professional Accounts

• Business Registration Documents: For corporate accounts.
• Financial Statements: May be required for high-net-worth individuals.

KYC/AML Compliance Procedures

• All applicants must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) checks as part of the registration process.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the completeness of the submitted documents.

Step-by-Step finvasia Account Opening Guide

Detailed Step-by-Step Registration Process

1. Visit Website: Go to the Finvasia website or download the Shoonya app.
2. Click Registration: Click on the "Open an Account" or "Register Now" button.
3. Personal Information Entry: Fill in personal details such as name, email, phone number, and address.
4. Choose Account Type: Select the desired account type (Standard, ECN, Pro, Islamic, or Demo).
5. Set Trading Preferences: Specify trading preferences and leverage options.
6. Document Upload: Upload required identity and residence verification documents.
7. Account Verification: Wait for the verification process to complete.
8. Fund Your Account: Deposit funds into your trading account to start trading.
9. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, with minor interface differences.

Common Registration Issues and Solutions

• Issue: Document rejection due to poor quality.

• Solution: Ensure all documents are clear and legible before uploading.

• Issue: Delays in verification.

• Solution: Check for any missing documents or information.

Average Account Approval Time

• Typically, account approval takes 1-3 business days.

How to Upgrade/Downgrade Account Types

• Contact customer support or use the account management section in the trading platform to request changes to account types.

finvasia Demo Account Guide

Demo Account Features and Benefits

• Features: Access to the same trading platform as live accounts with virtual funds.
• Benefits: Allows traders to practice without financial risk and test strategies.

How to Open a Demo Account

• Follow the same registration steps as for a live account but select "Demo Account" during the account type selection.

Demo Account Limitations

• Cannot be used for actual trading; only for practice purposes.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of ₹1,000,000.

Demo vs Live Account Differences

• Demo accounts have no real financial risk, while live accounts involve actual trading with real money.

Duration/Expiry of Demo Accounts

• Demo accounts may have a time limit, typically lasting for 30 days, but this can vary based on the broker's policies.

finvasia Islamic Account Details

Swap-Free/Islamic Account Availability

• Finvasia offers an Islamic account option that is compliant with Islamic finance principles.

Eligibility Requirements

• Must be a practicing Muslim.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process or contact customer support for assistance.

Restrictions or Special Conditions

• Islamic accounts may have limitations on certain trading instruments.

FAQs – finvasia Account Types & Opening

1. What account types does finvasia offer？

• Finvasia offers Standard, ECN, Pro, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Standard Account: ₹0, ECN Account: ₹5,000, Pro Account: ₹10,000, Islamic Account: ₹0, Demo Account: Virtual balance.

1. How long does finvasia account verification take？

• Account verification typically takes 1-3 business days.

1. Does finvasia offer demo accounts？

• Yes, finvasia offers a demo account for practice trading.

1. Can I have multiple account types with finvasia？

• Yes, you can open multiple accounts with different types.

1. Does finvasia offer Islamic/swap-free accounts？

• Yes, finvasia offers Islamic accounts that are swap-free.

1. What documents do I need to open a finvasia account？

• Proof of identity, proof of residence, and PAN card.

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through customer support.