Indiabulls Ventures is a discount broker (recently pivoted from full-service stockbroking) from the house of Indiabulls Group. Based out of Gurgaon, the stockbroker has a presence in 18 cities of the country with a client base of 7 Lakhs.
The broker is part of a large conglomerate with broking services being one small part of the huge pool of businesses the group runs. It has recently shifted towards discount broking and is now offering some of the most differentiated subscription-based brokerage plans in the industry (more on this later).
“Indiabulls Ventures has an active client base of 43,917 for the financial year 2020.”
This stockbroker was established in the year 2000 and quickly joined the top league of stockbrokers in India. However, by time, it has not been able to keep its momentum going and is now left out as an average performing stockbroker.
It is known for its research quality but customer service and few other areas need quick attention, as we look at multiple aspects in this detailed review.
Divyesh Shah, CEO – Indiabulls Ventures
Indiabulls Ventures Trading Platforms
Indiabulls Ventures is one of the few stockbrokers that charges its clients for using some of the trading platforms it offers to go along with the brokerage charges.
In this detailed review, we will talk about the trading platforms that are developed in-house and are then offers these software to clients across the devices:
Shubh Mobile is the mobile trading app from Indiabulls Ventures. Some of the features of the mobile app include:
Customized watch-list provision where you can track different trading segments including commodities, currency pairs, equity stocks within the same watch-list.
Regular tips and research provided within the trading app.
Real-time market quotes with minimal feed delay.
Usage of margin funding can be automated within the app.
This is how the app looks on Mobile and Tablet devices:
Power Indiabulls is a terminal software-based trading application which users can download and install on their machines. This is majorly usable for high volume traders or people who can put in decent trading hours especially if they trade on the Intraday basis.
Some of the features of Power Indiabulls are:
Multiple Market watch with customization across segments available
Alerts can set as per user preferences when the Last traded price, volume or percentage change is observed in the scrip
Get access to market top gainers/losers and the stocks with the most volatile movements across the day
Real-time reports available with stats on the net portfolio or current obligation price of the company stock
Customizations and personalization of widgets, look and feel allowed to users as per preferences.
Also, see what is happening across the globe that can impact the Industries of your holdings etc
“Users are charged a non-refundable usage charge of ₹750 to active Power Indiabulls against their account. “
Here is how the trading platform looks like:
This discount stockbroker also allows you to perform trading through the web using a browser. With this trading application, you do not need to download or install any software and it can be accessed through your laptop or desktop.
Since this web-app is not responsive in nature, it does not give you the best of the experiences when you access it through a mobile or a tablet device.
Compatible with IE8 browsers and above, this is how the Shubh Web looks like:
The application is pretty basic in its design and compatibility. Especially looking from the overall industry dynamics where multiple stockbrokers are coming up with breakthrough solutions via their trading platforms, solutions such as this web-based application needs to improve on a few aspects.
Having said that, some of the top features Shubh Web carries are quick online payment transfers through gateways, research with daily tips, IPO analysis, market statistics on a real-time basis to go along portfolio tracking.
Indiabulls Ventures Research
The discount stockbroker houses a research expert team that performs fundamental as well as technical research for its clients. These reports and trading calls are available online through its trading platforms as well as other communication channels such as SMS and emails.
Some of the features of the research provided by this discount stockbroker are:
Research covers around 540 listed stocks on different indices of the stock market
Each stock is given details in regards to its fundamentals, valuations and associated risks
The idea of potential growth
Updated on a regular basis with information on mergers, acquisitions etc.
This stockbroker is known for its quality of research for both long-term investors and short-term traders and certainly can be trusted to an extent.
The discount stockbroker provides the following communication channels to its clients as shown:
Generally, expectations from a discount stockbroker are pretty low and rightly so. Most of the discount stock brokers don’t even try too hard in bringing quality to their clients through their customer service. However, Indiabulls Ventures is just average in this department with its laid-back approach.
For instance, if you look at their Google Play store mobile app page, there is not even a single response to around 1o0 comments (read complaints) they have received for specific issues with the mobile app.
In this competitive environment today and especially with the advent of low-cost discount stockbrokers, it is difficult to acquire and retain clients. People have much better options than to stay stuck with a broker that does not really care much in terms of servicing its client base well post acquiring them.
Thus, Indiabulls Ventures certainly needs to pull up its socks and make sure the clients acquired do get deserved attention in different aspects they need help in.
Indiabulls Ventures Pricing
Here are the different charges the stockbroker levies on its clients:
Indiabulls Ventures Account Opening Charges
Here are the account opening and maintenance charges levied by the discount stockbroker.
At the same time, if you have taken the ‘Shubh Subscription’, then you just need to pay the subscription charges of the plan taken and there will be no brokerage charges levied on your trades. Furthermore, there are no charges for the ‘Call & Trade’ facility as well.
These subscription plans are available across Equity (intraday trading, Delivery), Futures and Options and Currency segment.
If you are looking to trade in the F&O segment, then you are required to pay ₹1000 for the month and you can place an unlimited number of trades in this segment.
Here are the details of the Shubh Subscription plans for the Equity segment:
30 Days Fees (₹)
Margin Funding (₹)
Under this plan, you get an exposure of 5 times in the intraday segment as well.
Lastly, the best part is that you do not need to pay any subscription charges for the first month i.e. first-month brokerage is completely free.
How is Brokerage Calculated?
In the case of discount stockbrokers such as Indiabulls Ventures, the brokerage is calculated at a flat rate unlike in the case of full-service brokers. In the latter’s case, the brokerage depends on your trading turnover. Higher the turnover, higher the brokerage you end up paying.
For instance, if your brokerage rate is 0.3% for delivery and you are trading for ₹1,00,000 – then you will be charged ₹300 as brokerage rate excluding any taxes or transaction charges. Compared to premium stockbrokers such as ICICI Direct or Sharekhan, Indiabulls Ventures stands far better.
The discount stockbroker charges relatively higher transaction charges. Few stockbrokers such as Indiabulls Ventures, keep their brokerage marginally less and get it covered through other avenues.
In this case, this stockbroker charges higher transaction charges in Futures and Options as well as Commodity. Thus, make sure to get this aspect cleared in your discussion with the executive of the broker before you open an account.
Indiabulls Ventures Margin
Exposure or leverage is basically a short-term loan offered by different stockbrokers such as Indiabulls Ventures, at an interest rate of 12%. This interest rate is one of the lowest ones in the industry since most of the stockbrokers charge an interest rate in the range of 18%.
Thus, this low-interest-rate percentage works as one of the differentiators for Indiabulls Ventures.
At the same time, you must be very cautious while using it as its a risky concept and can eat up your trading capital. Here are the values offered across different segments:
Upto 10 times for Intraday, & 3 times for Delivery
Upto 3 times Intraday
Upto 3 times Intraday
If you are looking for exposure or leverage, well Indiabulls Ventures does not really offer much of it. You can check out this detailed article on stockbrokers that provide high exposure across multiple trading segments.
Indiabulls Ventures Disadvantages
You must be aware of some of the concerns before going ahead with this discount stockbroker:
Clients need to pay for using the trading platforms
Low exposure values offered across different segments
Average customer service
Slightly high transaction charges, especially in Future and options segments
“Indiabulls Ventures has received 8 complaints until 2019 for this financial year 2019-20 which is 0.01% of its overall client base. The industry average also stands at 0.01%.”
Indiabulls Ventures Advantages
At the same time, you get the following advantages while trading through this discount stockbroker:
Multiple Brokerage plans
Overall, low brokerage charged.
Decent trading platforms across devices
One of the prominent research houses of the country
A reasonable number of trading and investment products available
Looking to open an account and start trading?
Provide your details in the form below and we will set up a free call back for you right away:
Post this call You need to provide few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Indiabulls Ventures Membership Information:
Here are the details on the different membership details of the discount stockbroker:
Indiabulls Ventures Limited, M-62 & 63, First Floor Connaught Place, New Delhi- 110001
The details can be verified from the corresponding entity websites.
Indiabulls Ventures FAQs:
Here are some of the most frequently asked questions about Indiabulls Ventures that you must be aware of:
Is Indiabulls a safe stockbroker?
This discount stockbroker has been around for 17-18 years and has a presence in other business domains such as Insurance, Housing, Real estate etc.
The overall market capitalization of the group is US$5.1 billion, which is pretty solid by most standards. Thus, from a ‘trust’ perspective, yes this stockbroker can certainly be assumed to be safe and trustable.
What are the account opening charges with Indiabulls Ventures?
To open an account with this broker, you are required to pay ₹750 at the onset. Furthermore, an AMC (annual maintenance charge of ₹450 is applied every year).
What trading and investment products are offered by Indiabulls?
The discount stockbroker offers multiple trading and investment products such as Equity, Commodity, Currency, Mutual funds, Insurance, Derivatives, Depository services etc.
Make sure you understand the charges and type of accounts required to invest in these products before going ahead with the broker.
Does Indiabulls Ventures charge for usage of its trading platforms?
Yes, you will be charged ₹750 for the usage of its terminal-based trading platform Power Indiabulls. Normally, clients are not charged for usage of the trading platforms but in case of this stockbroker, this charge is in place.
How is the quality of research provided by Indiabulls Ventures?
Research quality is better than average at both the fundamental and technical level.
Thus, clients can surely use the trading calls, research reports, weekly/quarterly reports and tips coming from the broker and use those for their trading and investment post a basic check on their end.
You can check detailed comparisons of Indiabulls Ventures Vs Other Stockbrokers here: