What Gemini Says About Navia!

We asked Gemini the following;

The Exact verbatim answer below: You can try it too!
Navia Markets Ltd. appears to be a stock broking company with over 30 years of experience in the Indian financial market. Here’s a summary of their services and pricing, particularly relevant to opening an option trading account:

Services Offered:

● Trading in various segments: Equity, Futures & Options (including Nifty, Bank Nifty, Fin Nifty), Commodities, and Currencies.

● Zero Brokerage: They highlight a “Zero Brokerage for Lifetime” offer across all segments. This means no brokerage fees on trades.

● Free Account Opening and Maintenance: They offer free Demat and trading account opening with zero annual maintenance charges (AMC) for life.

● Advanced Trading Platforms: They provide a user-friendly mobile app and a web-based platform called Rocket Plus, equipped with features like:

🠖 Option Strategy Builder with Payoff Chart

🠖 Multi-leg order execution for options strategies

🠖 Direct trading from charts

🠖 Option chain

🠖 Basket orders

🠖 Good Till Triggered (GTT) orders

🠖 Price ladder trading

🠖 TradingView charts with various indicators and drawing tools

● Margin Trading Facility (MTF): They offer MTF with interest rates starting from 1.25% per month, but also mention the possibility of 100% reversal on interest through their nCoins program.

● nCoins: A unique reward system where trading earns you nCoins, which can be used to reverse brokerage charges and MTF interest or even exchanged for Amazon vouchers.

● Research and Analysis Tools: Access to financial and historical price data, charts, and price alerts.

● Customer Support: Extensive customer support via call, WhatsApp, and email. They also have a dedicated NRI account opening support.

Pricing:

While they emphasize “Zero Brokerage,” it’s important to note other charges that may apply:

● Statutory Charges: These include Securities/Commodities Transaction Tax (STT/CTT), Exchange Transaction Charges, Clearing Charges, SEBI Charges, Stamp Duty, and GST (at 18% on applicable charges). These are mandatory and levied by the government and exchanges.

● Other Charges:

🠖 Dealing Desk Call Charges: ₹50 + GST per call connected for order placement via their dealing desk.

🠖 Admin Square off Charges: ₹50 per executed order for MIS square off or square off due to margin-related reasons.

🠖 Pay-in Charges: ₹9 + GST per transaction via payment gateway, ₹50 + GST for cheque/NEFT/RTGS/IMPS payments.

🠖 Physical Contract Note Postage: ₹50 + GST per day.

🠖 Payout Rejection Charges: ₹200 per rejection.

🠖 Depository Transaction Charges: Levied by NSDL/CDSL when you sell shares from your DP account (0.03% of transaction value, subject to a minimum of ₹25 and a maximum of ₹250 per transaction).

● Clearing Charges (Derivatives): Futures: 0.0016%, Options: 0.03% (on premium turnover).

Opening an Option Trading Account:

The process to open a trading and Demat account with Navia Markets is stated to be quick and paperless (digital KYC) and can be completed online within a few minutes. You would typically need to provide:

● Aadhar Card (as identity and address proof)

● PAN Card

● Bank account details

● Income Proof (e.g., last 6 months bank statement)

● Signature on a blank white paper

Customer Reviews and Complaints:

● Testimonials suggest positive experiences with customer support, ease of account opening, and the trading app. Many users appreciate the prompt and helpful service.

● Some reviews on app stores mention areas for improvement, such as search functionality, app speed, and the availability of certain order types (like market orders for options buying).

● Overall, Navia Markets seems to be focusing on a zero-brokerage model with a user-friendly platform and emphasizes customer support. However, as with any broker, it’s crucial to understand all the associated charges beyond brokerage and consider your own trading needs and preferences before opening an account.

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DISCLAIMER: Investments in the securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Brokerage will not exceed the SEBI prescribed limit.