My experience with ventura securities

[RahulD]

Well,

I did contact Ventura and their executive did come over
But their software did not work and so I did not go ahead with them

Karvy Finapolis offered me a complete package for 1900
Lifetime trading and first year Dmat free plus their software
Brokerage was at 15ps for delivery and 2.5 ps for intra
for the first 3 months after whcih
30ps for delivery and 3 ps for intraday

I've been trading for about 9 months now ..
I started with Geojit, tried Sharekhan and now am with Karvy
Geojit through AXIX Bank is excellent, but their brokerage
is high (minimum Rs.20/- plus taxes)
I only do delivery trades through them

Hope it helps

 

[bangerabs]

Rahul D,

U are lucky not to have account opened with Ventura. Further to my report on this column dated 19th June 09, I would like to add that on 3rd Aug. 09, I requested them to withdraw the margin facility. On 4th Aug., my opening ledger balance was 21069.19 (inclusive of my remittance of 10K on 3rd Aug 09 and balance amt. was the credit available for the sale done on 3rd Aug 09).

Today, i.e. 4th Aug., I cancelled a sale order for Tata Motors and tried replace it again. But the order was rejected stating Margin is not sufficient. This is inspite of the fact that I was holding Tata Motors since 12.08.08 (ofcourse, with other brokers and for over 2 months it was lying with DP account of Ventura). Subsequently, I cancelled some other sale order also so as to sell tata motors, but inspite of this, sale order for Tata Motors was rejected on the same ground. ( I clarify that there was no 'buy' orders excepting 'buy' against sold orders only and ledger had credit balance of Rs. 3979.98). Which means, whether shares are rotting in DP or not, every sale in Ventura is treated as 'short sale', as there is no separate option for short selling. May this be eye opener to those who wish to join Ventura or reccomend others to join.

Earlier, as reported in my article of 19th June, they gave me just 30 minutes to clear debit balance of Rs.7914/- and did not allow to sell the shares thus depriving me of my legitmate gain. But they need 2 full days to remit funds withdrawn by me from my a/c. This money would not come within 30 minutes but need 48 hrs.

I hve written to Ventura, but I am sure they have no answer. The above must educate those who wish to be lured by Ventura with lower brokerage offer. On my part, I am searching for a broker to quit ventura at the earliest for my betterment, inspite of the fact that I am just 2 months old with ventura and had paid them advance brokerage.

 

[RahulD]

Dear Bangerabs,


Thanks for the update
What you have described is indeed a bad experience to have for a first timer

The first one I tried was Geojit through Axis Bank
I was using their silver platform (slow refresh rate)
Everything works great and even order execution is almost
instantaneous ...

Its the brokerage
A minimum of Rs.20/- plus taxes (one side in case of delivery and
single transaction leg (buy and sell) in intraday)..

I then tried Sharekhan .
Lower brokerage (30 to 50 ps for delivery depending upon the plan you take
and 3 to 5 ps for intraday one side) ...
But their customer service is appalling ...
Number milta hi nahin ...

Now since last month, I am using Karvy ...
so far so good although their software does seem to be having some
problems at times and difficult to get customer care/RM near square off time
(3:10 pm)

Thanks once again for sharing your inputs and experience

Best regards,

Rahul D

 

[bangerabs]

I too had experience with Geogit. They did suppress the truth of Rs.23/- minimum brokerage, at the time of opening the account. As I hate one being cunny or crafty, I stopped trading with them just for that reason, and lost account opening charges.

I do hv experience with Sharekhan. I am with them since 9 years. They are the best broker I have ever come across but unfortunately brokerage is high and minimum brokerage is also applicable @ Rs.23/per trade. This apart, their s/w many a time gives problem. But website is best. As my volume is more, website do not help me. Sharekhan is also most transparent broking house, no hidden charges whatsoever. In fact, when they introduced minimum brokerage, they did inform all clients.

The next broking house, with excellent s/w. is India Bulls. Unfortunately, here too brokerage is higher as compared to a few brokers like Ventura. Earlier, there was problem with India bulls contract notes as they were despatched thr: mail and many a times I did not get it at all. I had very hard time to get copies or account reconciled. Contract note available on their website do not have scripwise sub totals. But now this problem is solved as by 9PM contract notes are e-mailed.

Also, one can not hv more than 100 scrips in the mkt. watch and only 10 orders are allowed to be placed in After Mkt. Hrs. orders. Besides, this is sent late to market. In case I am not able to find a suitable broking hse with low brokerage atleast as compared to Ventura, I hv made up my mind to continue with India Bulls.

There is no broking house as good as Sharekhan (This is I am comparing after my experience with others) and if they compete with others with regard to brokerage and improve s/w, no one can match them.

 

[bangerabs]

This is a peculiar case with Ventura. Not a single pending buy order. Not even square off buy order. I had only opted out of margin money . Opening balance in the ledger as on 04.08.09 was 21069.19. Shares are held in Dp; not even they are receivables. Yet, sale is not allowed. Rejected for want of margin. Has any one come across this problem with any other broker? Will any one please clarify why this happens?. Is it necessary to hold margin to sell shares from the DP? Ofcourse, ventura does not have answer to this.

 

[vipin.kumar05]

Try india infoline,

Pros:

1.) excellent customer service..they give you the mobile number of your relationship manager which incidentally is also your dealer. So if your software stops working you can call them immediately and place the order.

2. Online help desk: where the reply is also prompt.

3. Reasonable brokerage: Initially i paid like 50 paisa for delievery and 5 paisa for futures, but now i have negotiated it to 30 paisa for delievery, and 3 paisa for futures. There option's brokerage, however, is pretty high, 50 rs per lot, i guess you can negotiate that also.

4. There software Trader terminal, pretty good. Fast order execution. Net P and L for the day ( perfect for a day trader). Square off facility. Charts with techincal indicators in them.

Cons:

1. When the market is volatile the TT hangs...you have to manually change the server again and again to get the live data back in the terminal.

2. You can't import the live data to any other software ( excel, metastock, amibroker etc )

3. There is no Portfolio tracker in it, As in if you carry your position next day, then for P&L you have to check manually ( calculator or excel )


I can think of only these points, hope i am of some help, if you want i can give you the contact of my relationship manager.

Cheers.

 

[vipin.kumar05]

Try india infoline,

Pros:

1.) excellent customer service..they give you the mobile number of your relationship manager which incidentally is also your dealer. So if your software stops working you can call them immediately and place the order.

2. Online help desk: where the reply is also prompt.

3. Reasonable brokerage: Initially i paid like 50 paisa for delievery and 5 paisa for futures, but now i have negotiated it to 30 paisa for delievery, and 3 paisa for futures. There option's brokerage, however, is pretty high, 50 rs per lot, i guess you can negotiate that also.

4. There software Trader terminal, pretty good. Fast order execution. Net P and L for the day ( perfect for a day trader). Square off facility. Charts with techincal indicators in them.

Cons:

1. When the market is volatile the TT hangs...you have to manually change the server again and again to get the live data back in the terminal.

2. You can't import the live data to any other software ( excel, metastock, amibroker etc )

3. There is no Portfolio tracker in it, As in if you carry your position next day, then for P&L you have to check manually ( calculator or excel )


I can think of only these points, hope i am of some help, if you want i can give you the contact of my relationship manager.

Cheers.

PS: Moderators, i just realized that i can post this post in brokers and trading platform section also, can i do that? If not kindly delete this or the other post.

 

[bangerabs]

Dear Vipin,

Thanks for ur concern. I am in touch with them. But few years back I had some problems with them. Mainly, when 1 single order was transacted 5 times, they were charging DP charges @ Rs.20/- per transaction. They deducted Rs.100/- on single delivery order. When I enquired with them, who bothered to reply?. Hence, I stopped. So, now let me see if any changes are there.

May I know the current dp charges i.e. when the shares are delivered, how much would they charge?. one of their RM will be visiting me today. I shall get all doubts clarified.

I shall just make my last effort in search good broking house, with low charges. Else, I shall go with IB and SSKI.

 

[rajmozhi]

can any one speficy a software with perfect graph about volume will angel be good

 

[bangerabs]

Dear Members,

This is for all those, who have praise unlimited for Ventura. Since May 2009, i.e. ever since I opened a/c. with Ventura, to any of my queries, I had never received a single reply from them. Hence, I am not willing to waste my precious time in writing to them, but wish to educate my brothers in Equity trading activities.

As they did not allow me trade inspite of 8 lakhs worth shares due to a debit balance of Rs.7900/-clearance of which was just delayed by 1 day (due to Sat/Sund), I stopped maintaining any credit balance with them. On 11th, my cr. balance was 2162.57. I had not placed any fresh buy orders, as I shall not continue with them even if they offer me zero brokerage. I am selling my exisitng holdings and at most buy such shares which I sell. Today, i.e. 11th Sept., I sold 270 MRO Tek @ average price of Rs.37.77 and placed order to buy it back. The order was rejected. Reason" Your order rejcted by RMS as margin required is 9990, while available margin is 2800". What happened to the money towards shares sold by me?. I am facing this problem, as I do not avail margin. I do not want margin money. But why not the credit against sale is not available?. Ventura will never reply, nor I expect them to reply. Will the Traderji's member will guide me if I am wrong?. Also, ventura1.com website is horrible. It takes 1 hr. to open after log-in. If you opt for any menu, you shall get the message" you are successfully logged off". If you are late by 2 minutes after site opening, you shall hv to re-log-in repeatedly.