Super cheap broker: Ventura securities

[bangerabs]

i 've already gone through all the post of ventura, came across a member bangrebs who has some problem but i feel such issues do arise in online platform , i even told ventura about it. His problems was with regard to debit balance in his account. what i am looking for is the trading experience, if someone had traded for sometime with ventura do share your thoughts.

Hi, Millionaire : - I admit that there was debit balance of 7914/-. and was over due by just 1 day. Not allowing to buy share is justified. And blocking the share so as to cover the debit balance is also justified. But holding up 8 lakhs shares and not allowing to sell when the expected price was being quoted is justified?. I think, it is not justified.

 

[mintu_millionaire]

pal,
i am just looking for a trading account for intraday and swing trading purposes , my investment account is with other broker. I agree with you that what they did was utterly wrong and so still not convinced about trading with them . Did you also face any other problems, regarding their backoffice support, trading software, and how was the trading experience.

 

[bangerabs]

Back office support is just satisfactory. But do not expect that your every query will be attended to. Software 'POINTER' is good. But there are some draw backs with Pointer (1) shares sold are not locked in DP a/c. Suppose u hv 100 shares of a particular scrip and sell it. Due to oversight if you place order again, it will be accepted. Besides, if you have just 100 shares, you can place for any number shares even above 100, provided sufficient margin is available. (2) Though, I think, there is no limit to the number of scrips that you can add to market watch, in many cases scrip codes differ for NSE and BSE. Hence scrips appear in different places and you have to search for it. For example, for India Bulls, BSE code is : IBULLS and NSE code is INDIA BULLS. (3) Also, where scrip codes are same in NSE and BSE, BSE may appear first and NSE 2nd in some cases and in some other cases, NSE 1st and BSE 2nd. In otherwords, when u place order, one has to be extra careful in selecting the exchane, particularly while squaring it off. (4) If mistaken in NSE or BSE selection, one may land up in wrong dealing, requiring fresh action to square off. (5) Recently, I had problem in placing the sale order from my DP a/c holding. In NSE, the sale orders were being rejected repeatedly, with the remark" margin is insufficient" which means, margin is required even to sell shares from DP Balance. But in BSE, the order was being accepted. Which means, if one does not have sufficient margin, he can not have choice to sell in the market where price is better (6) But best thing I have come across is in the net position menu of the Pointer; one can see the gain/loss and current rate and if required, can square off in fraction of seconds. So, there are good as well as bad points. Unfortunately, in my case bad points outweighed good points and am serious about quitting ventura very shortly, particularly when they blocked my 8 lakhs worth shares from selling, just because a petty amt. was overdue. That particular day, while market opened some of the scrips were in the range of my sale price and in fact, I had placed After market Hours order and would have been sold on profit. My volume; I presume; is good. They should hv seen my back ground before initiating any action or atleast they should hv advised me the position well in advance, so that I could hv cleared the debit balance before market opening. In my 9 years of experience with Sharekhan, they never bother even to remind me about such petty amount.

 

[RahulD]

IDBI is offerring a package at Rs.1900 for 6months
It enables you zero brokerage upto 1.5 lakhs in intraday
and 15,000 in delivery ...
Only service tax and STT etc. are charged ...

First year Dmat charges are waived off
Margin 5 to 7 times in intraday

Check it out,

I am meeting their executive on Saturday

Rahul D

 

[bangerabs]

The limit for zero brokerage is too low for those who trade regularly. In a minute it would be over. The brokerage offer for and over and above, therefore, would be enough to land u up in paying higher rate.

 

[rajputz]

Looks good but often cheap are not best and I would let anyone using them to comment on the service and speed of trade.

My criteria of choosing a broker is speed, ease & availability of the system. I cannot live without a desktop based thick client, and prompt service.

I was always happy with Kotak but they recently started charging Stamp Charges which are putting me in marginal to no gain in intraday I think that Stamp Charges are made by Karntaka govt. and Kotak cannot do anything about that... anyone knows any better broker without stamp charges and that fit my above criteria???

stamp duty are applied on all the brokerage firms...these are the hidden charges....as far i have seen....icicidirect, geojit, ventura, sharekhan, and all the major firms charges for stamp duty...but u shouldnt be worried abt the stamp duty..the major cost is the brokerage taken by the company u r using. stamp duty is too minimal to be avoided...

 

[rajputz]

Back office support is just satisfactory. But do not expect that your every query will be attended to. Software 'POINTER' is good. But there are some draw backs with Pointer (1) shares sold are not locked in DP a/c. Suppose u hv 100 shares of a particular scrip and sell it. Due to oversight if you place order again, it will be accepted. Besides, if you have just 100 shares, you can place for any number shares even above 100, provided sufficient margin is available. (2) Though, I think, there is no limit to the number of scrips that you can add to market watch, in many cases scrip codes differ for NSE and BSE. Hence scrips appear in different places and you have to search for it. For example, for India Bulls, BSE code is : IBULLS and NSE code is INDIA BULLS. (3) Also, where scrip codes are same in NSE and BSE, BSE may appear first and NSE 2nd in some cases and in some other cases, NSE 1st and BSE 2nd. In otherwords, when u place order, one has to be extra careful in selecting the exchane, particularly while squaring it off. (4) If mistaken in NSE or BSE selection, one may land up in wrong dealing, requiring fresh action to square off. (5) Recently, I had problem in placing the sale order from my DP a/c holding. In NSE, the sale orders were being rejected repeatedly, with the remark" margin is insufficient" which means, margin is required even to sell shares from DP Balance. But in BSE, the order was being accepted. Which means, if one does not have sufficient margin, he can not have choice to sell in the market where price is better (6) But best thing I have come across is in the net position menu of the Pointer; one can see the gain/loss and current rate and if required, can square off in fraction of seconds. So, there are good as well as bad points. Unfortunately, in my case bad points outweighed good points and am serious about quitting ventura very shortly, particularly when they blocked my 8 lakhs worth shares from selling, just because a petty amt. was overdue. That particular day, while market opened some of the scrips were in the range of my sale price and in fact, I had placed After market Hours order and would have been sold on profit. My volume; I presume; is good. They should hv seen my back ground before initiating any action or atleast they should hv advised me the position well in advance, so that I could hv cleared the debit balance before market opening. In my 9 years of experience with Sharekhan, they never bother even to remind me about such petty amount.

hey bang,

thanks for ur valuable discussion abt ventura...i have just asked for the account opening with ventura cause i liked there brokerage and pointer software...also the software was fast....can you tell me how they allow us to trade in margin orders.....on intraday....that thing is pretty confusing

 

[bangerabs]

Even I fail to guess. Since they had blocked my entire holdings from selling when there was a petty dr. balance, I stopped availing any margin.

 

[sira]

I think India infoline is good. Their broker is .01% on one side only for Fno.
The average brokerage comes to .005% only.
They have good reputation too.
Suggestions from seniors welcom

hi munde,

can you share your contract note to my mail id [email protected]. my RM is telling he has not seen one paisa brokerage in F&O for any client in indiainfoline. can you share your contract note to me which will be helpful to reduce my currenet brokerage 2paisa to one paisa...

Thanks,
kalyan.

 

[shanki99]

Been trading with Ventura for close to 1 yr now....any specific queries, plz put it forward to me

Rgds