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Vedika Securities

India|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

http://www.vedikasecurities.net

Website

Rating Index

Contact

+91 033 22231245
info@vedikasecurities.net
http://www.vedikasecurities.net
Ground Floor, Kolkata 700 001

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

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Vedika Securities · Company Summary

Aspect Information
Registered Country India
Company Name Vedika Securities
Regulation SEBI
Trading Platforms Web-based, Mobile App, Advanced Platform
Tradable Assets Equities, Derivatives, Mutual Funds, IPOs, Bonds
Account Types Standard Demat Accounts (variants possible)
Customer Support Phone, Email, Live Chat, FAQs/Knowledge Base
Payment Methods Online Banking, NEFT/RTGS, IMPS, UPI, Cheques
Educational Tools Tutorials, Webinars, Research Reports, Expert Q&A

General Information

Vedika Securities Pvt. Ltd. acquired the membership of the Capital Market segment of the National Stock Exchange of India Limited (NSE) and commenced its operations in September 1995 from Kolkata. Subsequently, it added the derivatives segment membership to enhance the customer servicing, and became the business partners of NSDL & CDSL. Vedika Securities provides investors with a varied range of financial products and services.

basic-info

Is Vedika Securities legit or a scam?

Vedika Securities is not regulated by any regulatory authority to operate related trading services. And it has a very low score of 1.49 out of 10 on WikiFX based on its overall performance.

 regulation

Pros and Cons

Vedika Securities offers a comprehensive investment solution for many Indian investors. Their diverse instruments, leverage options, and user-friendly platforms cater to various needs and experience levels. However, some limitations like limited international access and potentially higher fees compared to competitors might require consideration.

Pros Cons
  • Diverse offerings catering to beginner and experienced investors
  • Limited access to some international markets
  • Standard demat accounts, NRI accounts
  • Might have limited variations with different features or fees
  • Available for cash and derivatives segments
  • High risks associated with magnified losses
  • Transparent fee structure, various payment methods
  • Some fees might be higher compared to other brokers
  • User-friendly web, mobile, and advanced platforms
  • Advanced platform might be overwhelming for beginners
  • Multi-channel support, educational resources
  • Availability and response times might vary

Products & Services

  • Equities

  • Derivatives (Futures & Options)

  • Currency Trading

  • Depository Services

  • Mutual Funds

  • Fixed Deposits & Bonds

  • Wealth Management

Account Types

Vedika Securities offers standard demat accounts, similar to most other brokers in India. Here's a breakdown of the account type:

Demat Account Features:

  • Holding securities electronically: Instead of holding physical share certificates, your shares are stored securely in electronic form in the demat account.

  • Trading convenience: You can easily buy and sell shares through Vedika Securities' trading platform, with the shares automatically credited or debited to your demat account.

  • Margin borrowing: Depending on your eligibility and the broker's policies, you might be able to borrow funds from Vedika Securities to purchase shares using your existing holdings as collateral.

  • Intraday trading: You can participate in intraday trading, where you buy and sell shares within the same trading day.

  • Delivery-based settlement: If you opt for delivery-based settlement for your trades, the shares will be credited to your demat account after successful trade execution.

  • Online access: You can access your demat account details and holdings online through Vedika Securities' portal.

Account Variants:

While Vedika Securities primarily offers standard demat accounts, they might have specific variants with slightly different features or fee structures. It's best to check with Vedika Securities directly for any such variations and their details.

account

How to open an account?

Below are the steps followed to open an account:

1. Once an account opening form is received, it is checked to verify if all fields required are filled and signed appropriately, along with the required supporting documents for the type of account.

account

2. In case of any deficiency in the form/supporting docs, the form along with docs are returned to the client after intimation of the discrepancy over the phone/email/letter.

 account

3. In case of proper form and supporting docs, the KRA status of the PAN is checked along with details as per KRA database (if PAN is registered) and the details mentioned in the form. If there is any difference between details mentioned in the form and that in KRA database, the KRA database is updated. In case PAN is not registered in KRA, a new record is entered and documents uploaded as per requirement.

4. The same process (step 3 above) is done with CKYC database.

5. Once KRA as well as CKYC is registered, demat account is opened first (if requested by client), followed by trading account (if requested by client). The accounts once opened and approved by DP/Exchange, is mapped to respective dealer(s) trading terminal.

6. Intimation of account opening along with copy of client masters and other statutory documents is sent to the client as part of the welcome kit.

Trading Fees

Vedika Securities, like most brokers, charges fees for its services. Here's a breakdown to help you navigate your trading costs:

  • Equity Trading: Vedika Securities typically applies a trading fee of 0.10% to 0.50% on equity trades, depending on the order size and market liquidity. This translates to a cost per share ranging from a few paise to a few rupees.

  • Cash Market: Vedika Securities charges a flat commission of 0.10% to 0.50% per executed order in the cash market segment, with a minimum charge per order.

  • Derivatives: Commissions for options and futures contracts are typically higher, ranging from 0.50% to 2.00% of the contract value.

Additional Charges:

  • Account Maintenance Fees: Vedika Securities might charge an annual or quarterly account maintenance fee.

  • Delivery Charges: For physical delivery of shares in the cash market, Vedika Securities may charge a nominal delivery fee.

  • Other Fees: Check for any additional charges like transaction charges, stamp duty, and brokerage clearing charges that may apply to your specific trades.

Trading-Fees

Trading Platform

Choosing the right trading platform is crucial for a smooth and efficient investment experience. Vedika Securities offers a suite of platforms to cater to diverse investor needs and preferences. Here's a breakdown:

  1. Web-based Platform:

  • Accessibility: Accessible from any web browser, this platform offers convenience and flexibility.

  • User Interface: Streamlined and intuitive interface, suitable for both beginners and experienced traders.

  • Features: Real-time market data, charting tools, technical indicators, order placement, portfolio tracking, and news feeds.

  • Research Support: Access fundamental and technical research reports, analysts' recommendations, and news articles.

  • Suitability: Ideal for investors who value simple navigation, research tools, and real-time data access.

  1. Mobile App:

  • On-the-go Trading: Trade, monitor your portfolio, and access market data anytime, anywhere, from your smartphone or tablet.

  • Simplified Interface: Streamlined app interface with essential features for convenient mobile trading.

  • Push Notifications: Stay informed with real-time price alerts, news updates, and order confirmations.

  • Biometric Authentication: Secure access with fingerprint or facial recognition technology.

  • Suitability: Perfect for active traders who need quick access to markets and their portfolio on the move.

  1. Advanced Platform:

  • Customization: Highly customizable platform for experienced traders seeking in-depth analysis and advanced trading tools.

  • Technical Analysis: Comprehensive charting tools with technical indicators, backtesting capabilities, and algorithmic trading.

  • Level 2 Quotes: View detailed order book data for deeper market insights.

  • Multiple Watchlists: Create and manage multiple watchlists for personalized market monitoring.

  • Suitability: Geared towards professional traders and active investors who require sophisticated tools and market analysis.

Additional Considerations:

  • Technical Requirements: Ensure your internet connection and device specifications meet the platform's requirements for smooth performance.

  • Demo Accounts: Leverage practice accounts offered by Vedika Securities to familiarize yourself with the platform before investing with real money.

  • Customer Support: Seek assistance from Vedika Securities' customer support team for any technical difficulties or platform inquiries.

Deposit & Withdrawal

Whether you're eager to jump into the market or cash out your gains, understanding Vedika Securities' deposit and withdrawal options is crucial. Here's a breakdown to help you navigate the process:

Deposit Options:

  • Online Banking: The most convenient and widely used method, online bank transfers offer instant credit to your account, typically with no fees.

  • NEFT/RTGS: These bank transfer methods offer secure fund transfers, with NEFT taking up to 2 hours and RTGS providing immediate credit (for an additional fee).

  • IMPS: For instant fund transfers (up to a certain limit), IMPS transfers offer immediate credit but might incur transaction charges.

  • UPI: A popular mobile payment method, UPI allows instant fund transfers through linked bank accounts, often with no fees.

  • Demand Drafts/Cheques: While slower (taking 2-3 business days), demand drafts and cheques offer an offline option for deposits. However, Vedika Securities might charge processing fees for these methods.

Withdrawal Options:

  • Online Banking: Similar to deposits, online bank transfers offer the most convenient and fee-free way to withdraw funds, typically credited within 24 hours.

  • NEFT/RTGS: These bank transfer methods allow secure withdrawals, with NEFT taking up to 2 hours and RTGS offering immediate credit (for a fee).

  • Demand Drafts/Cheques: You can request demand drafts or cheques for withdrawal, which will be mailed to your registered address. However, processing and postal delays can take several days.

Important Points:

  • Minimum/Maximum Limits: Vedika Securities might impose minimum and maximum limits on deposit and withdrawal amounts. Check their website or inquire directly for specific details.

  • Processing Times: While online methods offer faster processing, traditional methods like cheques can take longer. Consider your urgency when choosing a method.

  • Transaction Fees: Certain methods like NEFT/RTGS or IMPS might incur transaction charges depending on your bank. Be aware of these charges before initiating a transfer.

  • Account Verification: To ensure security, Vedika Securities might require account verification for larger transactions or new accounts. Be prepared to provide necessary documents for verification.

Customer Support

Multi-Channel Support:

  • Phone: +91 033 22231245

  • Email: info@vedikasecurities.net

  • Company address: Ground Floor, Kolkata 700 001 2B Shambhunath Pandit Street, Kolkata 700 020

Conclusion

In conclusion, Vedika Securities emerges as a comprehensive brokerage solution for Indian investors. They offer a diverse range of market instruments, catering to both beginner and experienced traders with options like equities, derivatives, mutual funds, IPOs, and bonds. Their flexible account types and leverage facilities provide further room for customization. However, its lack of regulation may make traders think twice before truly trading with this brokerage firm.

FAQs

Q: What types of market instruments does Vedika Securities offer?

A: Vedika Securities offers a range of instruments for both novice and experienced investors, including equities, derivatives (futures and options), mutual funds, IPOs, bonds, and debentures. They also provide access to currency trading and Exchange Traded Funds (ETFs).

Q: What are the account types available at Vedika Securities?

A: Vedika primarily offers standard demat accounts, but they might have specific variants with slightly different features or fee structures. They also facilitate trading for non-resident Indians (NRIs) through NRI trading accounts.

Q: Does Vedika Securities offer leverage for trading?

A: Yes, Vedika Securities provides margin trading facility with leverage for both cash and derivatives segments. Leverage ratios, however, vary depending on the instrument and market volatility. Be sure to understand the associated risks before utilizing leverage.

Q: What are the deposit and withdrawal options at Vedika Securities?

A: Vedika offers convenient deposit options like online banking, NEFT/RTGS, IMPS, UPI, demand drafts, and cheques. Withdrawals can be made through similar methods, with varying processing times and potential transaction fees.

Q: What trading platforms does Vedika Securities offer?

A: They have a web-based platform, a mobile app, and an advanced platform for experienced traders. Each platform offers different features and functionalities to cater to various trading styles and needs.

Broker Information

Company Name

Vedika Securities Pvt Ltd.

Company Abbreviation

Vedika Securities

Regulatory Status

No Regulation

Platform registered country and region

India

Phone of the company
  • +91 033 22231245

Twitter

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Facebook

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Instagram

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YouTube

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Company address
  • Ground Floor, Kolkata 700 001

  • 2B Shambhunath Pandit Street, Kolkata 700 020

Linkedin

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WhatsApp

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QQ

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WeChat

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Customer Service Email Address
  • info@vedikasecurities.net

Company Summary

User Reviews

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FX1583526247
more than one year
They cancel stop-loss orders over the weekends, leaving my trades unprotected. On top of that, they suggested I pump in more money to avoid margin calls or close my positions early on Fridays. It felt like they were pressuring me into risky moves. Not cool at all. Doubts about their reliability and transparency linger after this experience.
2024-01-01 23:04
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