shouldiuse.io

VERDICT

Should I use Shoonya?

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Depends. A fit for cost-sensitive Indian active traders and algo traders who prioritize low brokerage over everything else. Avoid it if you need bulletproof execution or strong support — bogus-order glitches and trust questions appear in public records.

Confidence

Medium. Based on ~25 public sources; many review snippets truncated, so user sentiment is directional.

Ratings

  • Value for money
  • Ease of use
  • Feature depth
  • Support qualityOnly ticket-tracking FAQ found
  • Security postureOnly marketing security page found

Pricing

₹0 brokerage advertised

Zero-brokerage trading

ModelNot disclosed
Monthly feesNot disclosed
HardwareNot disclosed
Free tierYes

Best for

  • Cost-conscious active traders
  • Indian F&O and intraday scalpers
  • Algo traders wanting cheap API execution

Not for

  • Long-term investors who trade rarely
  • Beginners wanting guided, hand-holding support
  • Traders needing glitch-free execution guarantees
  • US and global-market investors

Gotchas - check before you buy

high

April 2023 bogus-order glitch reportedly caused trader losses; ask about current safeguards

medium

Zero-brokerage marketing vs flat ₹5 calculator math — confirm actual per-order cost first

medium

Algo API OAuth migrations have caused breaking changes for bot users

low

Shoonya branding covers broker, tax filing, and unrelated products — verify which entity you're signing

Pros and cons

Pros

  • Zero-brokerage pricing advertised; commission-free positioning confirmed by reviewers
  • Flat ₹5 per-order option suits high-frequency scalpers
  • Algo trading supported; third-party platforms document Shoonya API integration
  • Equity futures and options trading available
  • TradingView-powered charting promoted for deeper analysis

Cons

  • 2023 glitch sent bogus orders; users reported losses
  • Flat ₹5 charge undercuts 'zero brokerage' marketing
  • Reddit threads question Shoonya Securities' trustworthiness
  • Comparison threads show users shopping for other brokers

Sources & method

Analyzed 9/27/2026 - 14 sources - No known vulnerabilities found in the sources reviewed.

official x5review x6security x2news x1

Key stats

  • Value for money: 5/5

    Rating

  • ₹0 brokerage advertised

    Starting price

  • 14

    Sources

  • Analyzed

  • Value for money: 5/5. Zero and flat ₹5 brokerage claims
  • Ease of use: 4/5. App Store reviews call it user-friendly
  • Feature depth: 4/5. F&O, algo API, TradingView charts
  • Support quality. Only ticket-tracking FAQ found
  • Security posture. Only marketing security page found
  • ₹0–₹5 Brokerage Zero advertised; flat ₹5 in calculator
  • Yes Free tier Zero-brokerage plan advertised
  • 3 Platforms Web, Android, iOS apps

Pricing

Zero-brokerage trading

₹0 brokerage advertised

  • Flat ₹5 per order shown in calculator
  • Demat + trading account
  • Equity and F&O segments

Security

No known vulnerabilities found in the sources reviewed.

Full analysis

Based on ~25 public sources; many review snippets truncated, so user sentiment is directional.

Cheap Indian discount broker (₹0–₹5 brokerage) — great for active F&O traders, but glitch history and pricing fine print warrant checks.

Methodology

Based on ~25 public sources; many review snippets truncated, so user sentiment is directional.

Sources

  1. Shoonya: Demat & Trading Accountshoonya.com
    official
  2. Shoonya Pricing & Brokerage Chargesshoonya.com
    official
  3. Shoonya Brokerage Calculatorshoonya.com
    official
  4. Shoonya brokerage FAQshoonya.com
    official
  5. Shoonya F&O tradingshoonya.com
    official
  6. Discount broker Shoonya faces glitch, users complain of bogus ordersmoneycontrol.com
    news
  7. Shoonya Review: Brokerage Charges, Margins & Tradingselect.finology.in
    review
  8. Is Shoonya's ₹5 brokerage a Scalper's Dream?reddit.com
    review
  9. How is Shoonya App?reddit.com
    review
  10. Has anyone been conned by Shoonya Securities?reddit.com
    review
  11. Shoonya By Finvasia | Algo Trading docsdocs.algotest.in
    review
  12. SHOONYA - App Storeapps.apple.com
    review
  13. Shoonya product security pageshoonya.com
    security
  14. OpenAlgo Shoonya OAuth Migration discussiongithub.com
    security

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