FundsIndia is one of its own kind of an online investment platform in India where users can invest and trade across multiple segments completely online. Based out of Chennai, FundsIndia was established in 2009 and has been able to gain user traction in the last few years.
The platform provides a robo advisory service titled Money Mitr to its clients that provide automated and personalized recommendations to users based on their requirements and risk appetite.
FundsIndia, apart from its office in Chennai, has a presence across Chennai, Mumbai, Delhi, Bengaluru, Pune and Kolkata.
It is one of the very few investment houses that offer free brokerage (up to a total turnover of ₹1 Lakh) and provides financial advice at the same time. FundsIndia is registered with SEBI and ARN & allows you to trade and invest in the following financial products:
Although the investment firm has a limited range of trading platforms, still is able to deliver reasonable quality through these softwares. You need to understand that yes, there are much better and mature trading platforms in the stockbroking space in India but still the ones offered by FundsIndia offer a decent experience.
Let’s talk about these applications one by one:
FundsIndia Mobile App
This mobile app from this investment firm has been able to gain user confidence in quick time, especially because of its regular update frequency cycle. Some of the top features of this mobile app include:
Investment across mutual fund SIPs and equity allowed through the mobile app
The investment platform, FundsIndia, also has a web-based browsing investing software. This does not require any download or install and you are just required to browser the login page, put in your credentials and you can start managing your investments from there itself.
This is how the login screen of this web application looks like:
This web application offers limited features, is lightweight in nature and can be used across devices due to its responsiveness.
Although FundsIndia charges reasonable prices, it still provides research and recommendations across different financial products, especially for mutual funds and long-term equity investments.
The investment platform has a small but a capable in-house research team that published weekly reports on a regular basis. These reports give a complete round-up of the financial domains along with detailed fundamental analysis.
Here are some quick points on the research methodology carried out by this investment firm:
Advisors keep track of the economy’s momentum and the performance of mutual funds on a generic basis
The Mutual Fund Research Desk reviews the portfolio periodically to ensure that the portfolio delivers at a consistent level, especially in line with the Indian economy growth
At the same time, if there are any concerns or any corrective action needs to be taken, the Research Desk triggers an email to users in which they suggest rebalances as well.
However, FundsIndia does not provide any quick gain tips or recommendations or any technical analysis for that matter. Thus, if you are looking to perform trading at an intraday level, then you are more or less on your own when it comes to taking calls on your buys and sells.
FundsIndia Customer Service
When it comes to Service, it is one of the most crucial aspects, especially for users that track their investments on a regular basis and are open to switch and move their investments.
FundsIndia provides the following communication channels to their clients for support:
Indian phone support
NRI phone support
The number of communication channels is pretty diverse in their range and customer has most of the online channels to reach back to this investment platform. However, if you are looking for local help or assistance through a branch or sub-broker office, you will be disappointed as there is no physical presence apart from the corporate offices.
Nonetheless, users relying on the above-listed communication channels get reasonable support and service. The only feedback that FundsIndia can certainly work on their turnaround time.
This investment firm has kept its pricing in such a way that it comes out pretty suitable for small investors. This can be understood by the fact that the investment platform does not charge any brokerage for any equity turnover below ₹1 Lakh.
As far as other charges are concerned, here are the details:
FundsIndia Account Opening Charges
To Open an account with FundsIndia, you are not required to pay anything. Furthermore, AMC (Annual maintenance charges) for your trading account are levied, but these charges are applicable from the second year only.
Here is the information:
Trading Account Opening Charges
Demat Account Opening Charges
Trading Account Annual Maintenance Charges
₹200 (applicable from 2nd year)
Demat Account Annual Maintenance Charges
When it comes to brokerage rates, FundsIndia acts like a conventional discount stock broker and charges a flat rate as brokerage across the financial segments (Equity, Derivatives) it supports.
At the same time, investing in mutual funds is completely free.