Coin by Zerodha - Mutual funds 4+

Mutual fund units are stored in demat form

This first thing everyone should understand about coin is mutual fund units are stored in demat form and you must need demat account first. You can efficiently use this platform if you are a trader otherwise if you want to just invest in mutual funds then this may not be suitable for you.

Pros
1. You can pledge money for trading with very good margin.
2. Adding more and more features. Recently added SWP.

Cons
1. You can not control anything from AMC due to units in demat form.
2. You can not pledge units to third party institutions like Mirae, Bajaj etc. for borrowing money.
3. NAV update is very slow. Other platforms are much faster in NAV updates but may be this is not important for every investors but as a reliable platform, NAV must be updated on time.

I would suggest here first understand the requirements and then select the most suitable platform for mutual fund investment.

Arrogant people, don’t take feedback

While all their peers have merged mutual funds with their main app, zerodha wont because they don’t want a super app! This app is so basic and so limited features: - no option for creating daily SIP - no option to sort on XIRR - no option to model gains or STCG/LTCG! - customers don’t mean anything to them as they are discount brokers!! - Give any suggestion to them and they are like “we are the largest broker, so take what you get and shut up!” - Separate app for mutual funds, no other broker does that! If you ask why, their answer is same as above! - Unjustified charges! Delivery trades are free but they charge for buy back orders, which are delivery orders! Similarly if you apply for a buy offer of a company, they charge even if the order is not accepted! If you ask why, the answer is again same as above! - The DP charge is 300/- per annum, and they say that it’s to be charged quarterly like any other broker! But they charge it every 90 days, in their calculations 90 days * 4 = 1 year! Don’t ask why, you will get the same answer as above!

- shameless and unethical advertising of mutual funds from their own company

Developer Response ,

Hi, we're sorry to hear this. We would like to chat with you with regards to your experience with us. Can you provide us your customer ID at https://support.zerodha.com so that we can reach out?

Best app out there.. ignore negative reviews

Looking at all this negative reviews at first I was hesitant to use this for my mutual fund investment. Note, I was looking for something with long term perspective & app which can settle transactions faster.

I have also used Paytm money, though it is a good app, I wanted something more simpler and faster as Paytm money takes weeks to allocate funds to folio. So, coming back to coin. They settle the transaction same day, and this is quite helpful when you try to time the market. The UI is super simple & transactions through UPI and other method is super smooth.

With recent update XIRR is also available on fund level. I failed understand why this app has such a low rating.. this is best app to invest in Mutual Fund if you want something reliable for long term, go with this blindly.