Finvasia’s Shoonya platform is known for its zero brokerage model and sleek interface. But over the past two years, it’s also been in the news for reasons no trader likes: a technical glitch in Finvasia.
Such issues have left users stranded during critical market hours. From ghost trades to frozen screens, these issues have shaken the confidence of even loyal users.
Let’s break down what happened, the major incidents reported, and what Finvasia has done to fix them.
Shoonya App Not Working
Over the last two years, Shoonya by Finvasia has been in the news for multiple technical issues that disrupted trading during critical market hours. Here are some real cases that show how these glitches impacted traders:
1. April 13, 2023 — Ghost Orders & Frozen App
On the morning of April 13, many traders using Shoonya experienced a nightmare scenario: random trades got executed without their input, margins fluctuated wildly, and the app froze.
One user reported seeing “ghost orders” vanish or execute with incorrect values—triggering huge MTM swings in seconds. The glitch struck during critical market open hours, leaving traders helpless.
2. April 13, 2023 — Inability to Square Off Positions
Shocking scenes followed: traders trying to square off positions were blocked because of a front-end freeze.
Shoonya’s app advised users not to enter new trades and warned that “positions may not be updated correctly.” This forced many into unwanted overnight swings.
3. Mid-April 2023 — Massive Compensation Payout
In response to the turmoil, Finvasia settled nearly 700 claims and paid around ₹3 crore in compensation by late April.
They also engaged KPMG to audit the incident and improve platform reliability.
What Finvasia Did to Fix These Glitches
After the major glitch in April 2023, Finvasia quickly moved into damage-control mode. They publicly acknowledged the issue and explained that the glitch was limited to the front-end display—the backend systems with NSE and BSE were unaffected.
To reassure users, Finvasia set up a dedicated grievance team and processed nearly 700 complaints, compensating affected traders with ₹3 crore in total. They even brought in KPMG, one of the Big Four audit firms, to review their systems and ensure such issues wouldn’t repeat.
While these steps were appreciated, for many traders, the question still lingers—can a platform that failed once be fully trusted again?
How to Complaint Against Finvasia?
If you ever face a Shoonya platform glitch while trading, here’s what you can do:
- Stay calm and avoid panic trading. Refresh the app or log in from the web version—it sometimes works when the app doesn’t.
- Take screenshots of your portfolio, positions, and any error messages for proof.
- Check contract notes and trade confirmations—these will show whether trades went through even if the UI is stuck.
- Raise a support ticket immediately via the Shoonya app or website and save your ticket number.
- If you’ve suffered a financial loss and don’t get a satisfactory response, escalate the issue through NSE/BSE grievance redressal portals or file a complaint in SEBI.
Need help? Register with us and get complete assistance in reporting the complaint and in further escalation, if required.
Conclusion
Shoonya’s zero-brokerage model is attractive, but reliability is everything in trading. The technical glitch in Finvasia in April 2023 and smaller issues since then have left traders wondering if the savings are worth the risk.
If you’re using Shoonya, stay alert, keep records of your trades, and don’t hesitate to raise a complaint if things go wrong. And remember, having a backup option can give you peace of mind when every second counts.
