Broker comparison
Shoonya (Finvasia) vs Arrow (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of Shoonya (Finvasia) and Arrow from published official pricing and features — no affiliation with either broker.
- 3 – 0Cheaper on example trades (Shoonya (Finvasia) – Arrow)
- 6 – 4Published features (of 9)
| Metric | Shoonya (Finvasia) | Arrow |
|---|---|---|
| Delivery brokerage | ₹0 (free equity delivery) | ₹0 (free) |
| Intraday brokerage | ₹5 or 0.03% per order (whichever is lower) | ₹20 or 0.03% per order (whichever is lower) |
| F&O brokerage | ₹5 per order (options); ₹5 or 0.03% per order for futures (whichever is lower) | ₹20 per order (options); ₹20 or 0.03% per order for futures (whichever is lower) |
| AMC | ₹0 (individuals; ₹900 for corporate, trust and LLP accounts) | ₹0 (individual accounts; ₹500/year for non-individual accounts) |
| Account opening | Free (online) | ₹0 (free) |
| Trading API | Shoonya API — Free (per official page) | Arrow API — See official docs |
| Reported execution speed | ≈ 140 ms (median) | 95% < 2.9 ms · 99% < 4 msself-reported |
| Algo support | Yes - free API | API with Python & Go clients; in-house algo tools “Coming soon” per official site |
| Platforms | Shoonya app, Shoonya web, Shoonya desktop | Arrow mobile app (iOS/Android), Arrow web, Python & Go clients |
| Best for (published) | High-frequency, cost-obsessed traders who accept a smaller platform. | Latency-sensitive and professional traders who prioritise order-execution speed. |
Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.
Cost face-off: what real trades cost
| Trade | Shoonya (Finvasia) | Arrow | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹47.57 | ₹82.97 | Shoonya (Finvasia) (saves ₹35.4) |
| Delivery: ₹50,000 buy & sell | ₹131.78 | ₹131.78 | Tie |
| Options: premium ₹100 × 75 | ₹31.03 | ₹66.43 | Shoonya (Finvasia) (saves ₹35.4) |
| Futures: ₹24,000 × 75 | ₹1,031.75 | ₹1,067.15 | Shoonya (Finvasia) (saves ₹35.4) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | Shoonya (Finvasia) | Arrow |
|---|---|---|
| Free delivery | ✓ | ✓ |
| Zero AMC | ✓ | ✓ |
| Free API | ✓ | – |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | – |
| IPO | – | – |
| Research desk | – | – |
| Published speed | ✓ | ✓ |
What the published data shows
Both publish execution-speed figures (Shoonya (Finvasia): ≈ 140 ms (median); Arrow: 95% < 2.9 ms · 99% < 4 ms) — methodologies differ; see each profile before comparing on speed alone.
Tools & profiles
- Shoonya (Finvasia) full profile
- Arrow full profile
- Shoonya (Finvasia) brokerage calculator
- Arrow brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
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Frequently asked questions
Shoonya (Finvasia) vs Arrow: which has lower delivery brokerage?
At our last review, Shoonya (Finvasia) published delivery brokerage as "₹0 (free equity delivery)" and Arrow as "₹0 (free)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does Shoonya (Finvasia) or Arrow have a trading API?
Both have documented APIs at review time: Shoonya (Finvasia) (Shoonya API), Arrow (Arrow API). Compare pricing and rate limits on each broker's developer page.
Which is faster — Shoonya (Finvasia) or Arrow?
Shoonya (Finvasia) publishes ≈ 140 ms (median); Arrow publishes 95% < 2.9 ms · 99% < 4 ms. Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.
Is Shoonya (Finvasia) cheaper than Arrow?
On our four example trades (intraday, delivery, options and futures), Shoonya (Finvasia) is cheaper on 3, Arrow on 0, and 1 are tied. Statutory charges are identical, so any difference comes from brokerage.
Are these comparisons independent?
Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.
Sources
- Shoonya (Finvasia) - official website - https://shoonya.com
- Shoonya (Finvasia) - official pricing - https://shoonya.com/pricing
- Arrow - official website - https://arrow.trade
- Arrow - official pricing - https://arrow.trade/pricing