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.