Reliance money - 500/year

srini78 · #1 23rd May 2007, 11:55 PM

Dear all

i heard that Reliance money is charging a flat Rs 500/year for Rs 5 lac trade -delivery/intraday

is it true ?

its not very clear to me , is it limited offer ?

iam in chennai , one of franchisse of relinace money told me abt this

This is for investors , who dont trade that much

any update on this is appreciated

if it's real - its cheap - i will go for it .

pls reply , if u have any idea ..............

cheers

ssmistry · #2 24th May 2007, 12:53 PM

Yes, this is true .... 500 bucks for 5 lacs ... validity 12 months ... I'm using this package on my newly opened Reliance Money a/c

Go for it ... it's really cheap .... Brokerage is only 1 paisa

uasish · #3 24th May 2007, 01:26 PM

I have just got my a/c ,but the horrible experience with other members regarding Order Execution has detarted me for putting in the Trading capital.
Hoping it will improve shortly.

srini78 · #4 24th May 2007, 03:18 PM

to ssmistry

thanks for your reply

500/year is a good deal

iam not worried abt their poor service and all , we cannot expect great things for 1 paisa brokerage .

whats your opinion ?

cheers

srini78 · #5 24th May 2007, 03:21 PM

to uashish

I think in coming months , they will improve all things , its better to get in now , when they offer low brokerages as intro offer .

whats your take , i accept , service not good , but we cannot expect more for 1 paisa brokerage too,

its as simple as it is..

Reliance is good for low brokerage lovers only .forget abt service and all , atleast for now

Cheers

ssmistry · #6 25th May 2007, 07:16 PM

Yes, there are some known issues with order executions especially between 3 pm to 3:30pm ... it becomes worst some time and created panic also for me when I placed a buy order when prices were going down ! Unfortunately my order didnt execueted and it was in "In Process" till market closed and eventually expired !!! I missed that oppertunity ... But luckily I got the same scrip with lesser price next day !!! But think, what would have happened if price could have gone upward !!!

In summary, I'm OK with Reliance Money as I can't get better brokerage than this ... U have to compromise, I believe, since this is just begining of RMoney !! I remember days, some 3 years back, when I had same type of problems with ICICIDirect .....

So live happily with RMONEY and save hefty brokerages

bvpraveen · #7 25th May 2007, 07:23 PM

Quote:

Originally Posted by ssmistry

Yes, this is true .... 500 bucks for 5 lacs ... validity 12 months ... I'm using this package on my newly opened Reliance Money a/c

Go for it ... it's really cheap .... Brokerage is only 1 paisa

I guess Rs.5 lacks is the total turnover, right?

If so how much % is for day trading and delivery? the same 9:1 ratio?

vishnuindian · #8 7th August 2007, 09:05 AM

HAi buddies

What is d brokerage charge in Reliance

Like for eg for 1000 rupees (delivery) wat will be brokerage charge for
Buy + sell = ?

FOr the SAme how much will be for INTRA DAY = ?

CAN Any one help regarding this please...?

Is there any hidden charges ?

Thanks a lot in advance,,

ssmistry · #9 8th August 2007, 05:56 PM

Brokerage on any trade, no matter how much ur amount of transaction is ONLY and ONLY 1 paisa ..

e.g:

You buy IFCI worth 50000/- -> Brokerage would be 1 paisa (goes to RMOney) + (STT + ST (Goes to Govt)
You sell IFCI worth 800/- Brokerage would be 1 paisa (goes to RMOney) + (STT + ST (Goes to Govt)

To avail above offer you have to buy prepaid card, currently you have 4 choices:

1.500/- --- 5 lac cash transaction (Buy+Sell --> In above e.g u have used 50800/- ) - 1 year validity

2.Rs. 500 - user gets a turnover limit of Rs.1 crore and time span of 2 months, whichever is earlier. User can take maximum delivery of Rs.10 lacs.

3.Rs. 1350 - user gets a turnover limit of Rs.3 crore and time span of 6 months, whichever is earlier. User can take maximum delivery of Rs.30 lacs.

4.Rs. 2500 - user gets a turnover limit of Rs.6 crore and time span of 12 months, whichever is earlier. User can take maximum delivery of Rs.60 lacs.

So ultimately u will end up paying 500 + STT + ST + CDSL charges (in cash of sell of shares) for second case if u do CASH/delivery transaction of 10 lacs ... And believe me maximum it should come 1000/- in normal cases....Not a bad deal !!!

Think if you could have opened a/c on ICICIDirect, you would have end up paying 10000/- straight away...

Did I mention, there are no so called hidden charges ... This is my experience of last 4 months .. God know if in future they levi any surcharges !!!

Hope this helps

vishnuindian · #10 8th August 2007, 06:36 PM

Quote:

Originally Posted by ssmistry

Brokerage on any trade, no matter how much ur amount of transaction is ONLY and ONLY 1 paisa ..

e.g:

You buy IFCI worth 50000/- -> Brokerage would be 1 paisa (goes to RMOney) + (STT + ST (Goes to Govt)
You sell IFCI worth 800/- Brokerage would be 1 paisa (goes to RMOney) + (STT + ST (Goes to Govt)

To avail above offer you have to buy prepaid card, currently you have 4 choices:

1.500/- --- 5 lac cash transaction (Buy+Sell --> In above e.g u have used 50800/- ) - 1 year validity

2.Rs. 500 - user gets a turnover limit of Rs.1 crore and time span of 2 months, whichever is earlier. User can take maximum delivery of Rs.10 lacs.

3.Rs. 1350 - user gets a turnover limit of Rs.3 crore and time span of 6 months, whichever is earlier. User can take maximum delivery of Rs.30 lacs.

4.Rs. 2500 - user gets a turnover limit of Rs.6 crore and time span of 12 months, whichever is earlier. User can take maximum delivery of Rs.60 lacs.

So ultimately u will end up paying 500 + STT + ST + CDSL charges (in cash of sell of shares) for second case if u do CASH/delivery transaction of 10 lacs ... And believe me maximum it should come 1000/- in normal cases....Not a bad deal !!!

Think if you could have opened a/c on ICICIDirect, you would have end up paying 10000/- straight away...

Did I mention, there are no so called hidden charges ... This is my experience of last 4 months .. God know if in future they levi any surcharges !!!

Hope this helps

Thanks a lot mr ssmistry:

Thank u very much sir, are u using reliance ..
I have applied for a new one , by how many days i will receive the trading kit
And wat is meant by Exposure..? Reliance provide how much exposure

Thanks a lot in advance
Waiting for oyur reply
Thnk u

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