Much have changed in stock market since Harshad Mehta's scam. Govt and SEBI took initiative to strengthen the regulatory guidelines for brokers and stock exchanges.
There are more investors and traders in stock market. In fact there are 3.25 crore active demat accounts in Indian stock market and about 11 crore in total.
Broker's app has changed the way in which trades are executed. Once everything was manual and needed human intervention but now one can executive orders through broking app.
You just need a smartphone, internet connection and active demat account and you can start trading.
But what if a technical glitch occur in an active trade? You may suffer losses at the tune of thousands to crores as happened recently with Finvasia's Shoonya app.
On 13th April tight on options expiry day Shoonya broking app broke down. There was not respite for whole day.
Finvasia promises no commission brokerage that is why people turn to it. But Finvasia is not only one whose app faces glitches.
Kotak's neo app, Zerodha's Kite app, Uptosx app too broke down during active trading and we did some investigation on technical glitches through data available on NSE's website and found a pattern.
Broker like Finvasia, Kotak Securities, mStock who promises 0 brokerage over trading segments faced most technical glitches last year.
There is more about roles of brokers, exchanges, Sebi and govt discussed at length in this video.
Hope it will be helpful to you to make informed decisions while selecting a broker for trading.
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00:00 Finvasia Tech Glitch
04:54 Why people turn to zero brokerage brokers
06:16 Type V complaint against broker
09:24 Who should be held responsible
Негізгі бет Dark Realities of Zero Brokerage Trading Apps | Finvasia Shoonya Glitch
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