My first thread! Want opinion on Reliance money, Indiabulls and HDFC Securities

[bhaveshdj]

Hi friends!
This is my first post. I am thinking of becoming a day trader and am researching and papertrading since last one month.
I had applied for online a/c with HDFC sec on 10th march. till date a/c is not active and they are not giving satisfactory reason.
So last week I applied with Indiabulls and hope a/c will be up and running by monday.
Today I heard about reliance money! y is the brokerage so low?
I had a few questions:
If I have rs.1 lac in my a/c with how much can I day trade?
If I use cash system, can i buy and sell shares of rs.1 lac two or three times everyday, that is have a turnover of rs. 2 or 3 lacs everyday?
another question, what is margin and what are margin charges?
also is powerbulls software good? are there better daytrading platforms available?

[dr_puneet_ca]

Hi everyone at Traderji.com
I saw many requests for a review about Reliance Money. I am a distributor for Reliance Money and so, I thought, it would be not just a help but a duty to provide the interested people with the required information. I have explained everything related to Reliance Money here. I look forward for your views, suggestions, comments, queries, etc. Further, honestly, I look for some good business over here. Do open a Reliance Money account if you feel it’s better than what you are using now. I would be grateful to you

Reliance Money- a single window for all your financial transaction needs

About Reliance Money
We all know the effect of the word Reliance on us. A company which has entered almost every arena of business and created wonders. Every project taken up by the company turns into a golden project. The company has something, which we can call as, The Midas Touch. Well, Reliance Money is the electronic transaction platform associated with Reliance Capital; one of India's leading and fastest growing private sector financial services companies, ranked amongst the top 3 private sector financial services and banking companies, in terms of net worth

What is Reliance Money?
Reliance Money offers a comprehensive platform, offering an investment avenue for a wide range of asset classes. Its endeavor is to change the way India transacts in financial markets and avails financial services. Reliance Money offers a single window facility, enabling you to access, amongst others Equity, Equity and Commodity Derivatives, Offshore Investments, IPOs, Mutual Funds, Life Insurance and General Insurance products

Why Reliance Money?
Reliance Money is the most cost-effective, convenient and secure way to transact in a wide range of financial products and services
The highlights of Reliance money's offerings are:
Cost-effective
The fee charged by the affiliates of Reliance Money, through whom the transactions can be placed, is among the lowest charged in the present scenario. Pay a flat fee of just Rs. 500/- valid for 2 months or specified transactional value
Note: The facility of trading is subject to expiry of the validity period or value limit, whichever comes first
Illustrations depicting fee structure and validity limits

Access fee- Rs. 500
Validity- Time validity of 2 months or Turnover validity of Rs. 1 cr., whichever is earlier
Turnover limit- Non-delivery turnover of Rs. 90 lac, Delivery turnover of Rs. 10 lac

Access fee- Rs. 1350
Validity- Time validity of 6 months or Turnover validity of Rs. 3 cr., whichever is earlier
Turnover limit- Non-delivery turnover of Rs. 2.7 cr., Delivery turnover of Rs. 30 lac

Access fee- Rs. 2500
Validity- Time validity of 12 months or Turnover validity of Rs. 6 cr., whichever is earlier
Turnover limit- Non-delivery turnover of Rs. 5.4 cr., Delivery turnover of Rs. 60 lac
Note: Unutilized delivery limit may be added to Non-delivery limit

Convenience
You have the flexibility to access Reliance Money services in multiple ways: through the Internet, Transaction Kiosks, Call & Transact (phone) or seek assistance through our Business Partners

Security
Reliance Money provides secure access through an electronic token that flashes a unique security number every 32 seconds (and ensures that the number used for earlier transaction is discarded). This number works as a third level password that keeps your account extra safe

Single window for multiple products
Reliance Money, through its affiliates/partners, facilitates transactions in Equity, Equity & Commodity Derivatives, Offshore Investments, Mutual Funds, IPOs, Life Insurance and General Insurance products
Note: All overseas investments are subject to rules, regulations and guidelines of the Reserve Bank of India as laid down from time to time

3 in 1 integrated access
Reliance Money offers integrated access to your banking, trading and demat account. You can transact without the hassle of writing cheques

Demat account with Reliance Capital
Hassle free demat account with Reliance Capital. The Annual Maintenance Charge for the Demat Account is just Rs. 50/- per annum

Other Services
Through the portal www.reliancemoney.com, Reliance Money provides:
a. Reliable research, including views of external experts with an enviable track record
b. Live news from Reuters and Dow Jones
c. CEOs'/experts' views on the economy and financial markets
d. The Personal finance section provides tools that help you plan your investments, retirement, tax, etc
e. Analyze your risk profile through the Risk Analyzer
f. Get a suitable investment portfolio using the Asset Allocator

For more details, please do write to me dr_puneet_ca@*****.co.in

And please ensure that, in case you are willing to open an account, please contact me and I will do it. I too will be benefited by your help. In fact, you will help me a lot by opening an account through me

[gryph0n]

Hey Bhavesh, I'm thinking of opening an account with HDFC in Bangalore. Can you let me know how your experience with HDFC was afterwards? Did they return your money for opening account? Also, from which city did you apply for HDFC?

[pakatil]

Hello Dr.Puneet,

Thanks for info on Reliance Money. Please throw light on following :

1. Will Fixed Aceess Charges takes care of STT also or only Brokerage & Service Tax are covered.

2. Are there any hidden charges like other charges on Turnover and charges for per transaction of scrip from Demat a/c.

3. What will be the brokerage charges without Access Charges.

4.Is Access Charges like Mobile Recharge, to be renewed before expriy.

5. Can your Trading terminal run on Linux Systems. ie.. it has to use Sun's JRE to be used on either Windows or Linux. I find most of the Terminals depend on MSJVM and hence can run only on Windows.

BTW, where are placed. I am from Bangalore


Cheers
PAKatil

[dr_puneet_ca]

Originally Posted by pakatil

Hello Dr.Puneet,

Thanks for info on Reliance Money. Please throw light on following :

1. Will Fixed Aceess Charges takes care of STT also or only Brokerage & Service Tax are covered.

2. Are there any hidden charges like other charges on Turnover and charges for per transaction of scrip from Demat a/c.

3. What will be the brokerage charges without Access Charges.

4.Is Access Charges like Mobile Recharge, to be renewed before expriy.

5. Can your Trading terminal run on Linux Systems. ie.. it has to use Sun's JRE to be used on either Windows or Linux. I find most of the Terminals depend on MSJVM and hence can run only on Windows.

BTW, where are placed. I am from Bangalore


Cheers
PAKatil

Dear sir
There are no other hidden charges or anything
And yes, its like mobile recharge. You can recharge once your validity is over or once you cross your turnover limit, whichever is earlier
I request you to please contact me on 9986627367
I will get the info about linux operations and tell you
Please do call me or tell me your number or contact address
You can also mail me on dr_puneet_ca@*****.co.in

[Neville_ed]

dr puneet ,

Does RM have charting facility in it ? live intraday charts ...lemme now

[dr_puneet_ca]

Originally Posted by Neville_ed

dr puneet ,

Does RM have charting facility in it ? live intraday charts ...lemme now

Yes sir, charting facility is available