Nov 21, 2010 11:02 AM
25557 Views
(Updated Nov 21, 2010 11:23 AM)
I am having a DEMAT account with Ventura for the last 1 year and I must say that after having bad experiences in this market with other brokers, I am very lucky to have good broker at last. Ventura is good for Equity and MF tradings. Their rules are very clear and specific in nature. All you need to do is go through their forms thoroughly.
For the guys who are confused / going to choose a broker, I would suggest some general guidelines:
1) It is very important to read their account opening form thoroughly.
2) Don't ever sign the PoA(Power of Attorney) section of the form. Once you deny while signing the form, they will put things to you in such a way as if your transactions will be incomplete but don't worry nothing like this ever happens. They make you sign the PoA to get a legal advantage of your account so that you can never put a case against them for any issues / mishaps that is done by them in your account.
3) Do ask about the F&O charges, Equity brokerage charges for delivery and intraday. Also, ask if these charges are applicable only on selling / buying / both so that you can calculate and sell your shares accordingly.
4) Educate yourself from the broker about situations like BTST and what will happen, if BTST extends to next day or for a couple of days. Any charges if applicable.
5) Do consider the Regulation taxes, Service Charges & Surcharges that is implemented on these brokerage charges. These are basically hidden charges.
Once asked to the broker they will say that it is common across the market. They don't feel it necessary to educate you with these additional charges.
6) Ask for annual charges if any.
7) Ask for any charges applicable if some minimum balance is not maintained per quarter or no transactions for a year.
8) Ask for what is the credit period after you exceed your margin basically to avoid block and sell. normally, it's T+1 day.
WRT, Ventura here are some other points:
1) Margin amounts reflect immediately to avoid Block and Sell and but gets settled next working day.
2) IntraDay prices are accurate with a max of+2-5 seconds difference.
3) I observed Funds Payout happen in 24 hours but not absolutely sure on this one.It happens with me in the aforesaid time limit.
Please note: Having said that Ventura is good, I would still not recommend F&O with Ventura. Please make your choice accordingly.
