Pl. go thr: the following my mail to Ventura Securities and then decide if any one is interested in cheap brokerage and cheap service.
Sir,
Further to my mails of dated 21st & 30th May and 11th June 09, I would like to bring to your notice the following:-
1. There is no customer service in Ventura.
2. I had debit balance of Rs. 8000/- as of 18th Jun 09, and was surprised to see that on 19th, I was not allowed to sell the shares. Not only this, even the After Mkt. Hrs. sale orders were not sent to the market depriving me of the gain due to early price movements. I can understand not allowing the purchase, but even sales are not allowed is some thing quite new to me in my over 8 years experience in Online Trading.
3. As already told you, there are number of problems in your software. Instead of trying to improve it, your system is just I can not understand as nowhere else, I had faced such problems. In fact, this is the first time that my sale orders, inspite of having over 7 lakhs worth shares with Ventura is blocked up.
4. I am not interested in your margin money. You are requested to block the margin money hence forth and allow me to trade only on my available credit balance till such time I continue with Ventura. This, I had informed the person who had called on me to open the account and who has not responded to my call on different subjects, nor had bothered to reply to two of my e-mails on another subject. Yes, his service was restricted to opening up the account only.
5. With the Ventura branch not available nearby, even despatching cheque was not possible immediately. Since I was informed only arround 0930 in the morning as to to pay up towards debit balance, it was difficult for me to make immediate arrangements as HDFC bank was not at my home. Atleast warning a day in advance would hv given time to clear debit. A person holding 7 lakhs worth of shares can never run away with your 8K. Atleast, you could hv resorted blocking up of the shares to the extent of your debit balance. Blocking 7 lakhs worth shares just for 8K debit balance is nothing but foolish deed. I am just a month old with you. I had faced problem from day 1. I feel that this has to be brought to the notice of statutory authorities. I still can not agree with your blocking up of 8 lakhs worth shares just for the purpose of 8 K debit balance. I shall however bring this to the notice of other trading members so as to be careful before opening account with Ventura.
6. Worst ever broker I had come across is Ventura. I made a mistake of leaving India Bulls, just I had some problem with them over brokerage issue. No problem, I had already started in search of new broking house. Nothing is good to stick to Ventura.
7. As usual, please do not reply. For, I know no reply will come from Ventura. I shall not respond to any of your queries please. But make sure, that margin facility is withdrawn with immediate effect.
8. As I have been active full time trader over the 8 years, I have various contacts and I had introduced several clients to India Bulls and Share Khan. Incidentally, as compared to my various other experiences, these broking houses are the best. I shall never recommend a single person to Ventura. (I still have active account with Sharekhan which I was planning to close due to high brokerage, but now I am holding back this decision.) Not make the mistake of closing the account with India Bulls. In fact, I shall reconsider even to continue with India Bulls, after checking up with them with regard to re-consideration over brokerage).
With regards
(B.S.BANGERA)
Sir,
Further to my mails of dated 21st & 30th May and 11th June 09, I would like to bring to your notice the following:-
1. There is no customer service in Ventura.
2. I had debit balance of Rs. 8000/- as of 18th Jun 09, and was surprised to see that on 19th, I was not allowed to sell the shares. Not only this, even the After Mkt. Hrs. sale orders were not sent to the market depriving me of the gain due to early price movements. I can understand not allowing the purchase, but even sales are not allowed is some thing quite new to me in my over 8 years experience in Online Trading.
3. As already told you, there are number of problems in your software. Instead of trying to improve it, your system is just I can not understand as nowhere else, I had faced such problems. In fact, this is the first time that my sale orders, inspite of having over 7 lakhs worth shares with Ventura is blocked up.
4. I am not interested in your margin money. You are requested to block the margin money hence forth and allow me to trade only on my available credit balance till such time I continue with Ventura. This, I had informed the person who had called on me to open the account and who has not responded to my call on different subjects, nor had bothered to reply to two of my e-mails on another subject. Yes, his service was restricted to opening up the account only.
5. With the Ventura branch not available nearby, even despatching cheque was not possible immediately. Since I was informed only arround 0930 in the morning as to to pay up towards debit balance, it was difficult for me to make immediate arrangements as HDFC bank was not at my home. Atleast warning a day in advance would hv given time to clear debit. A person holding 7 lakhs worth of shares can never run away with your 8K. Atleast, you could hv resorted blocking up of the shares to the extent of your debit balance. Blocking 7 lakhs worth shares just for 8K debit balance is nothing but foolish deed. I am just a month old with you. I had faced problem from day 1. I feel that this has to be brought to the notice of statutory authorities. I still can not agree with your blocking up of 8 lakhs worth shares just for the purpose of 8 K debit balance. I shall however bring this to the notice of other trading members so as to be careful before opening account with Ventura.
6. Worst ever broker I had come across is Ventura. I made a mistake of leaving India Bulls, just I had some problem with them over brokerage issue. No problem, I had already started in search of new broking house. Nothing is good to stick to Ventura.
7. As usual, please do not reply. For, I know no reply will come from Ventura. I shall not respond to any of your queries please. But make sure, that margin facility is withdrawn with immediate effect.
8. As I have been active full time trader over the 8 years, I have various contacts and I had introduced several clients to India Bulls and Share Khan. Incidentally, as compared to my various other experiences, these broking houses are the best. I shall never recommend a single person to Ventura. (I still have active account with Sharekhan which I was planning to close due to high brokerage, but now I am holding back this decision.) Not make the mistake of closing the account with India Bulls. In fact, I shall reconsider even to continue with India Bulls, after checking up with them with regard to re-consideration over brokerage).
With regards
(B.S.BANGERA)