Indiabulls Ventures is a full-service stockbroking house from Indiabulls Group. Based out of Gurgaon, the stockbroker has a presence in 18 cities of the country with a client base of 7 Lakhs. With Indiabulls, clients can trade across segments such as:
“Indiabulls has an active client base of 48,999 as of 2018 for the financial year 2018-19.”
This full-service stockbroker was established in the year 2000 and quickly joined the top league of full-service stock brokers. 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
Indiabulls Trading Platforms
Indiabulls is one of the few stockbrokers that charges its clients for using 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 softwares to clients across the 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:
Indiabulls Online Trading
This full-service 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, it 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 Online web portal of Indiabulls looks like:
The application is pretty basic in its design and compatibility. Especially looking from the overall industry dynamics where multiple stock brokers are coming up with breakthrough solutions via their trading platforms, solutions such as this web-based application from Indiabulls look just average or mediocre in its offerings.
Mobile Power Indiabulls
Mobile Power is the mobile app from Indiabulls. Some of the features of the mobile app include:
Users get Nifty50 and Sensex as predefined market watch lists, that can be customized as per user preferences
Quick order placements across segments (especially in 1st and 2nd tier cities)
Reports across capital markets, Futures & Options, Currency Derivatives segments available
Get Market statistics, corporate actions within the app along with information on Top gainers/losers, volume topers, volatile stocks etc.
Administrative tasks such as Fund transfer, Account summary, Margin reports allowed
This is how the app looks on Mobile and Tablet devices:
As shown above, the mobile app is rated 3.7 by around 99 users. Two problems there, first obviously the rating is very low, second, the app is being used by a very small set of users. Most likely, clients of Indiabulls realize the app is not that exhaustive and it’s better to use other trading platforms by the full-service stockbroker.
The full-service 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 full-service 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
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.
Indiabulls Customer Service
The full-service stockbroker provides the following communication channels to its clients as shown:
Generally, expectations from a full-service stockbroker are pretty high and rightly so. Most of the full-service stockbrokers try pretty hard in bringing quality to their clients through their customer service. However, Indiabulls is pretty mediocre 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 stock brokers, 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 certainly needs to pull up its socks and make sure the clients acquired do get deserved attention in different aspects they need help in.
Here are the different charges the stockbroker levies on its clients:
Indiabulls Account Opening Charges
Here are the account opening and maintenance charges levied by the full-service stockbroker.
Demat Account opening charges
Trading Account opening charges
Demat Account Annual Maintenance Charges
Trading Account Annual Maintenance Charges
As far as brokerage is concerned, the broker charges the following brokerage rate to its clients.
At the same time, you must know that in case you are starting with a reasonable initial deposit (let’s say ₹50k or above), you can certainly negotiate with the executive on the brokerage rate set up by the broker. All these charges are negotiable to multiple levels as long as you are starting with a decent deposit and you have good negotiation skills.
How is Brokerage Calculated?
In case of full-service stockbrokers such as Indiabulls, the brokerage is calculated based on your trade value.
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, this brokerage rate is reasonable.
But when we compare it with discount stock brokers such as 5Paisa or Zerodha, certainly the brokerage of Indiabulls is on the higher side.
The full-service stockbroker charges relatively higher transaction charges. Few stockbrokers such as Indiabulls, 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 Exposure or Leverage
Exposure or leverage is basically a short-term loan offered by different stock brokers such as Indiabulls, at a specific interest rate. 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 does not really offer much of it. You can check out this detailed article on stockbrokers that provide high exposure across multiple trading segments.
Disadvantages of Indiabulls Ventures
You must be aware of some of the concerns before going ahead with this full-service stockbroker:
Clients need to pay for using the trading platforms
Low exposure values offered across different segments
High account opening charges
Slow customer service
Slightly high transaction charges, especially in Future and options segments
“Indiabulls has received 31 complaints until 2018 for this financial year 2018-19 which is 0.06% of its overall client base. The industry average is 0.02%.”
Advantages of Indiabulls Ventures
At the same time, you get the following advantages while trading through this full-service stockbroker:
Decent trading platforms across devices
One of the prominent research houses of the country
Reasonable number of trading and investment products available
Okayish brokerage which can be negotiated with further down.
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
Passport sized photograph
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Indiabulls Membership Information:
Here are the details on the different membership details of the full-service stockbroker:
Indiabulls Ventures Limited, M-62 & 63, First Floor Connaught Place, New Delhi- 110001
The details can be verified from the corresponding entity websites.
Some Frequently Asked Questions about Indiabulls (FAQs):
Is Indiabulls a safe stockbroker?
This full-service stockbroker has been around for 17-18 years and has a presence in other business domains such as Insurance, Housing, Real estate etc. 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 stock broker can certainly be assumed to be safe and trustable.
What are the account opening charges with Indiabulls?
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 full-service 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 charge for usage of its trading platforms?
Yes, you will be charged ₹750 for 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?
Research quality is better than average at both 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 Vs Other Stock brokers here: