According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- No
- Shoonya
- No
- No initial deposit requirements
- Access to four major Indian exchanges
- Diverse asset pool
- Low trading costs
- Fast order execution
- Transparent conditions.
Our Evaluation of Shoonya
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Shoonya is a high-risk broker with the TU Overall Score of 2.33 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Shoonya clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.
Brief Look at Shoonya
Shoonya is a broker offering access to trading currency pairs, stocks, ETFs, commodities, mutual funds, SIPs, bonds, futures, and options listed on major Indian exchanges, including NSE, BSE, MCX, and NCDEX. While the broker does not impose trading fees, its clients pay only government taxes and stamp duty, with rates primarily varying by asset type. There is no minimum deposit requirement, but the recommended deposit starts at INR 5,000. Trades are executed through the proprietary platform or application. Leverage is not provided, and alternative income options include an affiliate program for both individuals and legal entities. Deposits and withdrawals are conducted through bank transfers, incurring minimal transaction fees.
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- Diverse range of several thousand financial instruments across nine asset classes;
- Low trading costs;
- The Shoonya platform is user-friendly and functional, permitting all trading strategies, including scalping and hedging;
- Asset-backed loans at competitive rates are available;
- Advanced analytical and automated trading tools;
- Capital management services for high-net-worth clients, encompassing research, investment strategy development, implementation, risk monitoring, and portfolio adjustments as needed;
- Regulation by the Securities and Exchange Board of India (SEBI), ensuring comprehensive protection of user funds and data, with offices in four countries.
- Leverage is not available;
- Lack of passive income options;
- Limited choice of financial instruments for non-residents of India.
TU Expert Advice
Author, Financial Expert at Traders Union
Shoonya provides access to various trading instruments, including currency pairs, stocks, ETFs, commodities, mutual funds, and options across NSE and BSE. The absence of trading fees stands out as an advantage, along with a no-minimum deposit policy. The proprietary platform supports all trading strategies, and the broker offers advanced analytical tools and asset-backed loans, underlining its comprehensive service offerings.
However, Shoonya's lack of leverage is a drawback for traders seeking larger positions without tying up significant capital. Limited financial instruments for non-Indian residents and the lack of passive income options may also not suit all traders. Therefore, while Shoonya offers robust trading conditions, it may be more suitable for local traders preferring a fee-free structure and proprietary platform tools.
Shoonya Summary
Your capital is at risk. The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
| 💻 Trading platform: | Shoonya |
|---|---|
| 📊 Accounts: | Classic |
| 💰 Account currency: | INR, USD, and EUR |
| 💵 Deposit / Withdrawal: | Bank transfers |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 EUR/USD spread: | Zero brokerage fees |
| 🔧 Instruments: | Stocks, ETFs, commodities, currency pairs, mutual funds, SIPs, bonds, futures, and options |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market |
| ⭐ Trading features: | No initial deposit requirements; Access to four major Indian exchanges; Diverse asset pool; Low trading costs; Fast order execution; Transparent conditions. |
| 🎁 Contests and bonuses: | Rebate from Traders Union |
A significant advantage of Shoonya is the absence of a minimum deposit requirement. Users are free to deposit any amount, even INR 100-500. However, the broker's lack of leverage, which facilitates larger trades and subsequently increases profit potential, is a notable disadvantage. Shoonya excels in its technical support, available 24/5 through all major channels, including phone, email, live chat, and a ticket system.
Shoonya Key Parameters Evaluation
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Trading Account Opening
To register with the broker, complete the following steps:
Go to the Shoonya website and click Open an Account in the top right corner.
Provide your email address and phone number, and click Continue.
Await the confirmation codes (OTP) and enter them in corresponding fields. Then, click Continue.
Provide additional personal information and complete verification. Next, open an account and make a deposit. After that, download the appropriate version of the Shoonya platform and start trading.
Regulation and safety
Traders must thoroughly research a company before engaging with it. Registration is essential. Oversight by a recognized regulatory authority is highly desirable, as it demonstrates the broker's commitment to transparency and protects client interests in disputes. Shoonya is registered in India and regulated by the Securities and Exchange Board of India (SEBI), with a verified license number.
Advantages
- 8 years of experience
- Official registration
- SEBI regulation
Disadvantages
- Regulator's jurisdiction is restricted to India
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Classic | Not charged by the broker | Yes |
Deposits and withdrawals incur certain transaction costs. Additionally, a subscription fee of INR 799 applies to the signal analysis software, starting from the second month.
| Broker | Average commission | Level |
|---|---|---|
|
$0.8 | |
|
$1.5 | |
|
$1.1 |
Account types
Shoonya offers a single account type with versatile conditions. The choice of trading platforms is also straightforward, as Shoonya's proprietary solution is the only integrated platform. Traders are recommended to thoroughly review all the information on the website to anticipate any potential limitations during trading and fund transfers. Moreover, it is important to determine priority assets and a basic trading strategy. Users also decide whether to use the company's analytical tools.
Types of accounts:
Shoonya lacks a demo account, a considerable disadvantage given that many traders prefer to explore the platform before depositing real capital. Consequently, they may choose a broker who provides greater flexibility in this aspect.
Bonuses from Shoonya
Brokers use promotions to attract new clients. These promotions also encourage more active trading, since clients typically need to meet specific requirements to access bonus funds or other promised benefits. While brokers clearly benefit from these incentives, traders can also gain significantly by trading carefully. It is crucial not to rush or change your trading strategy just to qualify for a promotion, as this could lead to losses. However, Shoonya is currently not offering any bonuses, as the company is focused on other areas.
Rebate from Traders Union
To reduce trading expenses, register on the Traders Union website, and find a special link in your user account. Then, follow that link to the Shoonya website, complete registration and verification, and open a live account. Then link the accounts on both websites following the simple instructions. This activates automatic rebate, a return of part of the fees, on all trades, regardless of their direction, volume, or outcome. This option is free and does not impose any additional obligations or conditions.
Deposit and withdrawal
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Successful traders receive profits. Withdrawal requests are submitted via the corresponding section of the user account.
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Successful traders receive profits. Withdrawal methods are limited to bank transfers.
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Successful traders receive profits. Processing times typically range from 1 to 3 days.
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Successful traders receive profits. Precise withdrawal fees are disclosed prior to the transaction.
Investment Options
Brokers aim to provide diverse earning opportunities, offering passive investment options alongside active trading. Common examples include copy trading and managed accounts. However, Shoonya does not provide these services, offering only an affiliate program that can generate additional income, albeit through active participation.
Partnership (referral) program from Shoonya:
Upon request, traders receive a personalized referral link to share on forums, blogs, and social media, aiming to attract attention to the broker. Interested users click the link, register, and complete verification. Once they open an account, deposit a minimum of INR 5,000, and execute their first trade, all within the first month of registration, both parties receive rewards: INR 50 for partners and INR 25 for referrals. Number of referrals is unlimited.
Rebate for trading with Shoonya
To receive more favorable trading conditions with the broker, register on the Traders Union website, and find a special link in your user account. Then, follow that link to the Shoonya website. After completing registration and verification, open a live account. The final mandatory step is to link the accounts on both websites, which activates automatic rebate, a return of part of the fees, on all trades, regardless of their direction, volume, or outcome. This option is free and results in significant savings.
Customer support
Shoonya offers highly competent 24/5 technical support, accessible via email, phone, live chat, and a ticket system.
Advantages
- Multiple communication channels
- Prompt responsiveness during business hours
- Consistent competence and helpfulness
Disadvantages
- Support is not available on weekends
Available communication channels:
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Phones;
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Email;
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Live chat;
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Tickets.
Shoonya has its profiles on TikTok, Facebook, Instagram, YouTube, LinkedIn, Twitter (X), and Reddit, where traders can also contact technical support.
Contacts
| Registration address | Plot No D-179 Finvasia Centre, Phase 8b, Industrial, Area G F Sector 74, Sas Nagar Mohali, Mohali 160054, Punjab Building # 3, 566 Chiswick High Road, London, W4 5YA 6740 Davand Drive, Unit #10, Mississauga, Canada L5T 2K9 319, 28th October Street, Kanika Business Center, Office 201B, 3105, Limassol, Cyprus |
|---|---|
| Regulation | SEBI |
| Official site | https://shoonya.com |
| Contacts |
+91-172-474-0000, +91-172-675-0000, +91-977-909-7777
|
Education
Few brokers prioritize trader education, and some entirely disregard the chance to gain loyalty among novice traders. While Shoonya lacks a comprehensive training program, it does offer some educational content.
In any case, novice traders must seek additional materials to adequately prepare for trading. They can access free educational resources on third-party websites.
Detailed review of Shoonya
Shoonya is among India's most prominent FinTech companies. In August 2016, it launched its brokerage division and immediately announced an ambitious goal to provide innovative financial market services without charging fees. To implement this strategy, the company employed leading industry experts. Furthermore, it continuously develops various technological tools, most of which are paid for traders, but the cost is minimal considering the opportunities these tools unlock. The company provides investment advisory services to institutional clients, and if needed, its staff builds and manages portfolios. If retail users require additional funds, they can always obtain asset-backed loans.
Shoonya by the numbers:
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Access to 4 Indian stock exchanges;
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9 groups of financial instruments;
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Brokerage fees are INR 0;
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24/5 technical support;
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100,000+ clients.
Shoonya is a modern Indian broker offering optimal trading conditions
To enable traders to realize their potential and build a deeply diversified investment portfolio that mitigates significant risks, Shoonya provides access to several thousand financial instruments, encompassing stocks, ETFs, commodities, mutual funds, currency pairs, SIPs, bonds, futures, and options. Furthermore, the company permits all trading strategies and methods, including scalping, hedging, news trading, and algorithmic trading. Trades are executed through its proprietary platform, featuring a simple and intuitive interface, which allows users of all experience levels to easily navigate it. The platform offers a comprehensive suite of features and capabilities, such as a dashboard, watchlist, multiple charts on a single screen, a wide range of technical analysis tools, and historical data.
Useful services offered by Shoonya:
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AI-powered signal analysis. This is a self-learning algorithmic solution that analyzes the stock market, simulates various scenarios, and provides daily forecasts for asset price movements across short-term, medium-term, and long-term periods.
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Mutual fund analyzer. This tool evaluates the potential and effectiveness of simulated mutual fund portfolios.
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High-frequency trading (HFT) algorithm. Vast data volumes are processed in real-time, resulting in ultra-fast trade executions without user intervention.
Advantages:
Thousands of financial instruments across nine categories, with ongoing additions;
Transparent trading conditions with minimal fees disclosed in advance;
Proprietary and third-party tools for efficient trading and market analysis;
SEBI regulation, with offices in four countries;
24/5 support accessible via multiple channels.
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