Honestly, I've never traded Liquidbees either but my strategy requires putting a lot of pending orders, & since Finvasia doesn't offer a lot of leverage, I might have to keep more money with them than other brokers; so, I intend to buy Liquidbees & earn interest/dividend on it as I would in a bank-account, otherwise just parking money in a trading-account would miss out on that income-stream. You can find some basic information about Liquidbees here -
http://www.greenworldinvestor.com/2011/07/10/liquid-bees-etf-explained-–-pricedividendtaxationperformance-historynse-symbol/
Even I was considering TradePlusOnline as they're offering unlimited trading for 1499 per month but then, there MIGHT be additional clearing charges from the Custodial Participant, & for all of that they don't seem to be offering better platform or leverage than Finvasia, so Finvasia being completely free seems like a better option to me.
The other option I'm considering is Interactive Brokers, since I'm already trading with them & like their features but for NRIs, they charge 0.01% or Rs.150, whichever is higher, which would leak a lot of brokerage-money from the profits.
Are you trading as an NRI?