Reliance Money – What’s Being Offered?
Reliance Money – An Anil Ambani group company is all set to change India’s financial trading scene.
I had an opportunity to talk with an executive from Reliance Money yesterday. Just looking at the their brochure, one gets the feeling that they mean serious business.
Reliance money is not only offering a comprehensive platform for trading and investing in all financial assets; the rates being offered were unimaginable till a few months back.
Reliance money has a simple system which works like the prepaid mobile.
For example paying an access fee of Rs 500 will get you trading access for two months for turnover upto Rs 90 lacs (intraday) + Rs 10 lacs (delivery).
This works out to be Rs 500 brokerage for Rs 1 crore turnover in day trading or
Rs 500 brokerage for Rs 10 lacs turnover in delivery trading.
That is 0.005% and 0.05% brokerage for day trading and delivery trading respectively.
Compare this with 0.05% and 0.25% being offered by India Infoline (5paisa.com)… Reliance Money is clearly the better choice.
Similarly Rs 1350 can get you 6 months of trading access upto Rs 3 crore (30 lacs delivery limit).
and Rs 2500 can get you 12 months of trading access upto Rs 6 crore (60 lacs delivery limit).
The brokerage plans are definitely designed for the medium and big traders. To trade, one has to pay access fee for at least two months. If one does utilize the turnover limits, the validity of the access fee will expire.
Small traders with turnover of only few lacs a month may still prefer to stay with other brokerage houses, which do not require a minimum commitment of brokerage per month.
However, the rate at which Reliance Money is growing its customer base, the future looks bleak for other brokerage houses in the country.
Dear Friend,
Your article is informative. My son has already become member of Reliancemoney.com and trades frequently. Whereas myself & wife are very old traders with 5 paisa.com. I agree that the brokerage charged by Reliance is very low. But at least at present, they have 3 important aspects against them.
1) They have very low bandwidth & therefore,do not provide a fast trader Terminal as given by 5 paisa. Also, a trader is logged-off automatically, if there is no activity for 10 mins. On 5 paisa, once we Login, it doe not get disconnected till we log-off.
2) Reliance customer care is useless. One can not get in touch with them for several hours. This is very bad for Day Traders, who need to square-off their open positions at the last minute & the Reliance Terminal / customer care can not be reached. Against this, 5 paisa provide us a Relationship Manager, who is a one stop assistance for any problem.
3) The research provided by Reliance is outdated. Their technical team is either very new or very raw. Example : Hundreds of their customers were unable to Login from 16 – 20 July (5 Days). Imagine the plight of persons who had large open positions in F&O.
Reliance has a very long way to go to reach the immense popularity earned by 5paisa.com / India Infoline.
Regards,
M. S. Athalye.
a realtime value for the value of reliance money with other leader in the brokering arena
reliancemoney is veryeasy way onlinetrading for house wives &those who are innocent&helpless to go out side
i want to take ur terminal,
plz help me in it
I have been using Reliance Money for a while now and think their service is pretty good. Mr. Athalye – the bandwidth issue you are facing might be because of your own internet connection, since i find it to be fast enough. Also I feel it is a good security feature if you are logged off after 10 minutes of activity, don’t you think so? Also, the rmoney customer care has been pretty helpful for me so far.
I am planning open demat trading account at reliancy money. plz help me in this case
Which world you are in Sir????? Reliance Money is the worst online Portal. Since the inception they have made many changes by reducing the services provided on Portal and increasing the brokerages & they deduct money without the concent of the customer. Weather you trade or not you have to pay them Rs.1000/- every two months. Overall They have gone away with intial schemes which was just to lure customers . In short Anil Ambani feels the Indians are fools.. But let me tell all its not true they have to pay huge price for the same.. Daily 100’s of people are closing account with them. IN CASE YOU HAVE ACCOUNT WITH THEM CHECK YOUR LEDGER AND AWAIT A BIG SHOCK I AM SURE YOU WOULD RUN TO THE NEAREST BRANCH TO CLOSE YOUR ACCOUNT.. This site is only for big Traders in case your tarde vaule is 05.00 lacs a months them it may be OK for you now but god only knows for how long as they change their Brokerage any given time– so better stay away
Service of r money is bad, this company will suck do not get carried by the low brokerage, the service and reliability is EQUALLY LOW, KINDLY PASS ON THIS MESSAGE.