Super cheap broker: Ventura securities

[varin11]

I am trdingwith venture for almost 1 year and am quite satisied with the plaform. Service is reasonable.thy dont have a cust service desk or email but u have to contact ur rep.Otherwise its fine . there r no extra charges etc

 

[aditya8232]

Saravindh, i have recently opened a account with Ventura in Pune, i trade primarily in options, according the representetive i talked to, they charge Rs35 for options, and for intra-day square-off second leg is free, he said that for all their offers (even for 30k advance payment) option fee is 35.
Did you negatiate with the Ventura people to get the low brokerage in options??
the representetive who came had the rates written on a NOTEPAD in a rough manner with pencil!!! i asked for a copy and he said he will type and mail me. doesnt ventura have any rate structure? is there a possibility of getting lower brokerage on generating high volumes and negotiating?
. if anyone has been using ventura for a while plz answer if you have ever faced any problems with then regarding their records and contract notes??

thanks,
Aditya

I talked to Venture bangalore people last week. The offer appears very attractive - for Rs.10K of advance brokerage (6 month validity), they are offering .01% for futures/cash and Rs.20 for options. And for F&O, if you square up same day, there is no brokerage on the seocnd leg. So effectively, that is .005% for futuers and Rs.10 for options! But would also warn people to have a closer look at their other charges (transaction chgs, sebi chgs etc). I figured out from my calculations that these charges are atleast Rs.7-8 higher (Per lot) compared to what I am currently paying at RMoney. Which means, effectively, the brokerage is nearly .01% per side for futures and about Rs.13-14 per option (single side) - which is of course, still cheap.

 

[iTrade]

I have been using ventura since last three months. Here's my observation:
1. Their software called pointer can crash anytime. I trade from 2-3 machines (from office, home, etc). It works consistently on some machines and others it just crashes sometimes, depsite Operating System being same. I dont know what the problem is.

2.Brokerage rates are definitely attractive. I paid 7500 adavance for 0.02% cash intraday (only one leg) and i think it is rs.35 both sides for futures.

3. T+2 is strict deadline what they follow for delivery. If you dont pay cash by 9:55am on T+2, your account gets locked. System places order anytime on T+2 between 10:30 to 11:00am automatically and then your account is unlocked. It hapenned with me couple of days back. If they had allowed me to sell shares at 10:00 itself, I would have been in gr8 profit.

4. There is no such thing as help desk.Just you get 3-4 numbers and you call up.Response is OK types.

5.Pointer software does not allow stop loss trigger price along with market price. You have put a stop loss trigger price along with a limit price only. I found it weird. SO, if you are a day trader and if your stop loss is trigerred, you have to make sure that the limit price is well set enough that the order gets executed. I have written two times to them, but they dont get about it. They say that is the way it is.

6.Whenever you get a new update to their software, dont install it. Wait for 1-2 days and then install. It hapenned twice that when the new updates were applied to the software on my machine, their software crashed because it had bugs. So, you have to wait till you get another update that fixes it.

Overall, OK types. I just wish their software works everywhere on each operating system.

 

[rajputz]

i have been working with ventura for last three months and doesnt feel any problem with ventura any where. the software is good. the only thing is that you should be clear abt their policies in advance. t+2 day method is confusing some times but if you work is systematic way keeping record of your money then the system is fine. customare care is also good and helpful.

 

[iTrade]

I use sharekhan also and its almost like T+5 in there. They never sell shares without consent , neither they lock account. My point is that on T+2, atleast they should also give user option to sell the shares.

 

[rajputz]

I use sharekhan also and its almost like T+5 in there. They never sell shares without consent , neither they lock account. My point is that on T+2, atleast they should also give user option to sell the shares.

i totally agree with you...this is the wrong practice of ventura....it has been done with me several time. but the only solution i came across is that never hold the share on margin for more then one day...because no one knows where the share moves after the day overs...so the best is to square off your position and enter the trading after complete confirmation of trends. if seeing the performance of the software and the other facility it provide to the day trader then i must say that it is the best and cheapest with best customer support available...

 

[iTrade]

I am not blaming them. I just want people to know about this poilcy they have. You know what? I lost 8K because of this. I had bought 4000 satyam on last to last weeks market crash at 98.x. Ventura system sold my shares on Tuesday in betwen 10:30 and 11:00 at 101.8 . If they allowed me to sell (infact i asked them to sell at 10:00 and unlock my account but they didnt), the price i would have got was 103.8 or even 104. THats the difference.

 

[bangerabs]

Ganeshji,

I am also their client. I had many problems with the Software, infact, I term it as handicapped software. Many clients, I am sure, must be trading using the margin facility and may not aware of a peculiar feature with the s/w. That is, for every sale order of the shares that are held in DP (I mean, even if it is not short sale), margin from available credit balance is blocked. Which means, you will not be able to buy the shares from the little margin available in the ledger, as this is blocked towards sale. In other word, there is no separate option for 'shot sale' (if some one is interested), but every sale is treated as short sale. This is the reason, which credit is blocked from the ledger depriving one to buy fresh shares from the available credit. Some time, even after selling the shares, one is not allowed to square it off for want of margin. I too had the experience of them blocking up my 8 lakhs worth shares just because a petty amt. of 9K was due to them. What I mean, they should not dictate authority over 8 lakhs worth shares of clients just bcoz. a small amt. is due to them. They should know that, clients money is always held in their account and even when withdrawal request is placed, one would get the money on next day. Withdrawal is no where instant, excepting in sharekhan where if one places request in the early morning, by 3 PM one would get the money credited into their bank account.

Though Pointer has good features, including speed, their back office website is worst. I do not know whether it is my PC problem but I do not hv problem with any other websites.

Customer care from Ventura is other handicap. Forget about it. You will never get any reply.

 

[shanki99]

Ganeshji,

I am also their client. I had many problems with the Software, infact, I term it as handicapped software. Many clients, I am sure, must be trading using the margin facility and may not aware of a peculiar feature with the s/w. That is, for every sale order of the shares that are held in DP (I mean, even if it is not short sale), margin from available credit balance is blocked. Which means, you will not be able to buy the shares from the little margin available in the ledger, as this is blocked towards sale. In other word, there is no separate option for 'shot sale' (if some one is interested), but every sale is treated as short sale. This is the reason, which credit is blocked from the ledger depriving one to buy fresh shares from the available credit. Some time, even after selling the shares, one is not allowed to square it off. I too had the experience of them blocking up my 8 lakhs worth shares just because a petty amt. of 9K was due to them. What I mean, they should not dictate authority over 8 lakhs worth shares of clients just bcoz. a small amt. is due to them. They should know that, clients money is always held in their account and even when withdrawal request is placed, one would get the money on next day. Withdrawal is no where instant, excepting in sharekhan where if one places request in the early morning, by 3 PM one would get the money credited into their bank account.

Though Pointer has good features, including speed, their back office website is worst. I do not know whether it is my PC problem but I do not hv problem with any other websites.

Customer care from Ventura is other handicap. Forget about it. You will never get any reply.

yeah this was really weired when i encountered it for the first time. Wherever i was earlier with, like geojit and ICICI, i used to see a separate option for short sell. But not here.

But Pointer software is decent, atleast for me.

And their back-office team in chennai also responsive and courteous.

One thing iam always worried about their back-office team in chennai is that they wont even ask u a single question to verify that u are the actual person to execute orders in ur account( i mean phone orders). They simply do what u wish them to do under the code and bang the phone. Not even the name is asked.

Contrary, in Geojit, they have this Phone code and PIN no. On all the occasions, irritatingly, they wud want my wife to talk, even though the correct phone code and pin were punched, since the account belonged to her.

 

[rajputz]

once u understand their system u will see that their system is very good....but the things some times get confused....but is good