Shoonya said it was able to provide zero cost services primarily from the revenues it generated from the rebate it got from exchanges on processing fees. These rebates have been done away with due to recent regulatory changes and a flat-fee structure has been implemented for end clients, it said.
The communication is as follows… Charging 2000+GST for API was uncalled for and likely cause people to move out. It is not clear whether the charges are for per trade or per order.
Dear Shoonya User,
From the very beginning, you have been at the center of everything we do. At Shoonya, our mission has always been to make investing simple, affordable, and rewarding. We believe that your financial decisions should be driven by data, research, and technology, not burdened by unnecessary costs. As pioneers of the commission-free trading model in India, we’ve worked to ensure that every trade and investment you make is a step toward lasting financial wellness.
Our Commitment and Recent Developments
Over the years, we’ve provided a range of services at no cost—zero commissions on stocks, bonds, futures, options, currencies, commodities, mutual funds, and intraday trades. Our clients have benefited from seamless trading experiences, whether through our cutting-edge application or by calling in manual trades via our dealers. We’ve even offered free access to algorithmic trading through our API, all while maintaining zero annual maintenance charges for client accounts.
We’ve supported these operations by covering technology costs, such as server maintenance, technological upgrades, client services, and backend operations, with revenues primarily generated from a small rebate offered by exchanges on processing fees known as “exchange charges.” However, due to recent regulatory changes by SEBI aimed at enhancing market fairness, these rebates have been eliminated, and a flat-fee structure for end clients have been implemented. As a regulated entity, we have critically assessed these changes and their potential impact on our services.
New Fee Structure (Effective 2nd December 2024)
To continue offering a high-quality and secure experience, we are introducing a modest fee structure:
- Annual Maintenance Charge (AMC): ₹499 per year (plus GST) for all active accounts. This fee will help us enhance account security and expand cybersecurity measures, given the rise of digital financial scams.
- Operational Costs for Intraday, Futures & Options, and Commodity Derivatives Trades: ₹5 per trade (plus GST).
- API Trading Fee: ₹ 1999 (plus GST) per month for clients using our API for trading.
Continuing Our Zero-Brokerage Commitment
Despite these changes, our core promise of zero brokerage remains intact for a wide range of services:
- Zero commissions on delivery trades
- Zero clearing charges (NSE & BSE)
- Zero commission on ETFs
- Zero commissions on Mutual Funds
- Zero commissions on Bonds
- Zero commissions on IPOs
- Zero call & trade charges
- Zero Account opening charges
- Zero Trading platform charges
- Zero commissions on auto square-off
- Zero commissions for NRI (PIS or non-PIS) trades
- Zero commissions on corporate actions
- Zero Upfront charges
- Zero volume commitments
- Zero hidden charges
Our commitment to being the most competitive player in the industry remains unwavering. We aim to democratize access to capital markets by minimizing friction and unnecessary costs. If conditions allow, we will revisit these charges and strive to reduce or remove them in the future.
Thank You for Your Trust
Rest assured, every step we take is with your best interest in mind. We deeply appreciate the trust you’ve placed in us and are committed to delivering exceptional services and innovative products to enhance your Shoonya experience.
For any queries, please reach out to our support team at +91-172-474-0000 or +91-172-675-0000 or via email at clientsupport@shoonya.com.
We’re here to make your Shoonya experience exceptional.
Happy Trading,
Team Shoonya