Finvasia presents itself as a technology-first, zero-brokerage platform built for the modern investor.
But a closer look at its complaint history raises questions that go beyond the marketing.
From service failures and unauthorized trading concerns to app reliability issues that users have been vocal about, there is a pattern here worth examining carefully.
If you are considering Finvasia or are already using it, understanding what other investors have experienced could save you a significant amount of trouble down the line.
Finvasia Complaints Overview
Finvasia Securities Private Limited is a global financial platform that operates on four key niches: financial services, healthcare, real estate, and technology.
In India, the company has gained popularity through its zero brokerage trading platform, Shoonya HNI trading.
With its growing presence in the market, understanding how it handles customer complaints becomes important for assessing transparency and reliability.
Exchange Complaints Data
This analysis looks at key data points such as the number of clients, complaints received, and how effectively those complaints are resolved.
By examining these trends, we can get a clearer picture of user experience, while also identifying areas where there may be hidden concerns or gaps in grievance redressal mechanisms.
|
Financial Year |
Total clients |
No. of complaints |
% of complaints w.r.t. Total clients |
Resolved complaints |
% of resolved w.r.t. complaints |
Arbitrations |
|
2022-23 |
113306 |
67 |
0.05 |
58 |
86.56 |
0 |
|
2023-24 |
113306 |
1110 |
0.9 |
1007 |
90.72 |
1 |
|
2024-25 |
156622 |
359 |
0.2 |
359 |
100 |
0 |
|
2025-26 |
102071 |
103 |
0.1 |
92 |
89.32 |
0 |
This table shows that in 2022–23, there were over 1.13 lakh clients but only 67 complaints, which looks quite low at first.
However, when you notice that 86% were resolved and none went to arbitration, it feels a bit too clean, almost like issues might not be fully surfacing.
What stands out is the very small complaint ratio (0.05%), which could either mean excellent service or that many clients are not reporting their problems at all.
That raises a concern because underreporting can hide deeper issues.
Overall, while the numbers appear positive on the surface, the lack of escalations and extremely low complaint levels make you wonder if all grievances are truly being captured or if some concerns are going unnoticed.
Types of Complaints Against Finvasia
These categories shed light on the main difficulties users encounter while using the service, helping uncover patterns in the issues reported.
They also offer a clearer understanding of areas where the broker’s performance may be lacking.
|
Complaint type |
Description |
2022-23 |
2023-24 |
2024-25 |
2025-26 |
|
Type I |
Delay in payment |
7 |
136 |
9 |
28 |
|
Type II |
Non- receipt/ delay in securities |
– |
– |
3 |
13 |
|
Type III |
Non-receipt of documents |
1 |
22 |
3 |
7 |
|
Type IV |
Unauthorised trading |
1 |
235 |
40 |
91 |
|
Type V |
Service related |
32 |
632 |
239 |
476 |
|
Type VI |
Square off related |
– |
10 |
25 |
|
|
Type VII |
Non implementation of arbitration award |
– |
– |
– |
1 |
|
Type VIII |
IPO related |
1 |
1 |
8 |
|
|
Type IX |
Others |
11 |
84 |
54 |
158 |
-
Delay in Payment and Non-Receipt or Delay in Securities
What is striking here is the bizarre spike in payment delay complaints to 136 in 2023-24, followed by a dramatic drop and then a rise again to 28 in 2025-26. There is no consistency whatsoever.
Securities-related complaints also quietly emerged from 2024-25 onwards, adding another dimension to what appears to be a persistent settlement problem.
-
Non-Receipt of Documents
This category jumped sharply to 22 in 2023-24 before falling back, but the fact that it has not reached zero in any year suggests clients are routinely missing documents they are entitled to receive.
That kind of inconsistency in basic back-office delivery is hard to excuse.
-
Unauthorised Trading, Service Related and IPO Related
The numbers here are hard to look past. Service complaints hit 632 in 2023-24 and have settled at a still-alarming 476 in 2025-26, while Finvasia unauthorised trading complaints surged to 91 in the latest year after a brief dip.
Together these categories represent the overwhelming bulk of grievances and signal deep, unresolved issues with how the platform operates and treats its clients.
-
Square Off Related
Starting from zero, square off complaints reached 25 in 2025-26, a number that has been climbing steadily since this category first appeared.
Investors disputing how and when their positions were forcibly closed is a serious concern that points to a lack of transparency around a process that directly affects their money.
-
Non-Implementation of Arbitration Award
Just one complaint in 2025-26, but it carries enormous weight.
A broker that does not honour a binding arbitration award is essentially defying the entire regulatory framework designed to protect investors. One case of this is one too many.
-
Others
The Others category has gone from 11 to 158 in four years, which is not a gradual drift but a steep and accelerating climb.
A general category of this size and growth rate strongly suggests that investor grievances are becoming more varied and complex faster than the reporting structure can keep up with.
Finvasia Technical Glitches
Technical glitches in stock market often happen when systems struggle to handle high user activity or sudden spikes in trading volume.
Weak infrastructure, outdated software, or poor integration between systems can also cause disruptions, leading to delays, errors, or temporary platform unavailability.
|
Financial year |
No. of technical glitches |
|
2023-24 |
5 |
|
2024-25 |
3 |
Finvasia reported 5 technical glitches in 2023-24, which dropped to 3 in 2024-25 and while the reduction might look like progress, the reality is that even 3 glitches on a platform handling hundreds of thousands of active traders is far from reassuring.
Each one of those incidents represents a window of time where investors could not access their accounts, execute trades, or manage their positions at critical market moments.
The fact that glitches are still occurring at all on a platform that markets itself as technology-first is something that deserves more than just a passing mention.
Finvasia App Reviews
Finvasia’s app sits at a modest 4.2 rating on the Play Store with over 19,000 reviews .
While some users appreciate the zero-brokerage model, the recurring technical complaints and slow grievance resolution paint a picture of a platform that still has significant ground to cover on the reliability front.
-
Complaints Regarding Account Access
It seems a lot of people are facing issues before they are even properly able to log in to their accounts.
Let us take a look at what users have to say:
This user is not able to gain access to his account because of mismanagement on the company’s end.
It seems they sent him different OTPs on his registered mobile number and e-mail address.
He even goes as far as to compare the app to other platforms, stating that he much rather prefers them over Finvasia.
-
Complaints Regarding Customer Care
Customer care officials are very important for any and all platforms as they are supposed to be the first ones to listen and help users.
However, it seems Finvasia might be having trouble with this.
As this user says, despite trying to get a solution for his problem for over a week, he still got nowhere with the customer care.
At the end, he had no option but to reach out for help again.
This user faced an issue with their watch list but upon contacting the customer care he got nothing of substance from them and was asked to simply wait.
-
Complaints Regarding User Interface
A good user interface is important for investors to make the most of the time they spend on the platform.
Here’s how that has been for user:
This user called the app “horrible” and claimed that the trading experience on this platform is not ‘healthy’.
He found the user interface to be frustrating and complicated.
This user particularly had issues with the platform’s speed.
He claims that because the app was so slow he actually ended up facing losses. According to him, there are actually a lot of things missing from charts as well.
When To Take Action Against Brokers?
Make it a habit to audit your trading account regularly, and whenever something surfaces that you did not sanction, move on it immediately.
Cross-reference the suspicious activity with your broker’s official communications and build a clear picture of what does not add up.
Lodging your concern with the grievances team in the first week is critical.
It establishes your awareness and intent right from the start, which matters enormously if the matter ends up before a regulatory body.
Certain developments make formal escalation unavoidable:
- Your broker is unable to furnish verified, timestamped records proving the order originated from you
- The outcome of an arbitration proceeding confirms the trades were conducted without your explicit permission
- A review by the exchange reveals the broker was not adhering to SEBI’s prescribed norms around order documentation
While SEBI provides a three-year period within which you can raise a formal complaint, and brokers are obligated to maintain your records throughout, do not let the availability of time lull you into postponing action.
Every week that passes without a formal objection on record chips away at the strength of your position and rebuilding that ground later is far harder than simply acting when the issue is fresh.
How to File a Complaint Against a Stock Broker in India?
Act quickly and follow a structured approach to protect your funds and strengthen your case.
The steps you take immediately after identifying an issue can significantly impact the outcome.
1. Document Everything
Before anything else, build your evidence base.
Go through your account thoroughly and collect everything relevant like, trade confirmations, contract notes, call recordings, emails, screenshots and lay it all out in the order it happened.
A clear, chronological record does not just support your complaint, it often tells the story better than words alone.
2. Contact The Broker
With your documentation ready, reach out to your broker’s official grievances channel and walk them through exactly what happened, attaching everything you have gathered.
Keep a copy of your complaint and note down any acknowledgement or reference number you receive.
Many disputes find their resolution right here, especially when the complaint is well-documented and presented with clarity.
3.File a Complaint in SCORES
If the broker’s response leaves you unsatisfied, or if you simply do not hear back, it is time to take things to SEBI’s SCORES platform.
Filing here places the broker under formal regulatory scrutiny and sets a defined deadline for them to respond, with SEBI actively overseeing the process to ensure accountability on both sides.
4.Arbitration in the Stock Market
Should the matter still remain unresolved after all of that, arbitration through SEBI’s Online Dispute Resolution platform is your next and most powerful option.
Both sides present their evidence to an independent panel, and the decision that comes out of it is binding and final.
Need Help?
You can register with us for any complaints related to Finvasia Securities.
We will arrange a call with our case manager, who will help in drafting the complaints, reaching out to the stock broker, lodging complaints at SEBI SCORES, and initiating smart ODR.
After the smart ODR complaint counselling will take place, based on the action, our team will guide you for the arbitration at NSE.
We will also help you in monitoring online SEBI complaint status for follow-up.
We represent clients in front of the arbitrators to fight against the odds tactfully, technically, and authoritatively.
The responsibility to achieve the reward on behalf of clients lies solely on us.
Conclusion
Finvasia’s data reveals a platform with some genuine strengths but also some persistent gaps that have not been meaningfully addressed over time.
The spike in complaints, the recurring service issues, and the app reliability concerns collectively tell a story that every investor should take seriously before committing their money.
If something feels off with your account, do not wait and hope it resolves itself, document everything, act quickly, and know that the regulatory system exists precisely to help investors in situations like these.
