What is this Zero Brokerage from Religare?

shashankmasurkar · #1 19th June 2007, 06:51 PM

Can any body tell me how can they say zero brokerage when they charge Rs. 4000/- annually as the upfront fee?

This is sheer nonsence if any body is saying that.

J_D · #2 20th June 2007, 06:51 PM

Anyone trading with Religare? How is the trading experience..? Pls share your views?

rajkumar sharma · #3 20th June 2007, 07:37 PM

Tell me about orbit corporation warrant.
please tell me how can it buy?
Buying it is a good idea?

pakatil · #4 20th June 2007, 09:38 PM

I have been trading with Religare since 3 months. Have taken Freedom Plan ( 4000/- pa). Brokerage is 0.03 for Intraday & Fno and 0.3 for Delivery. Plus Brokerage & Service Tax (12.24%) free up to ( 1.0 Lkh in NSE, BSE & Fno each). Ofcourse STT has to be paid separately.

I don't know about Zero Brokerage claims, still these rates are relatively cheaper. I am a small time Trader & having good savings in Brokerages compared to ICICI which I was using earlier.

Also Religare's Terminal is quite good. Good Connectivity & fast execution of orders. Ledger Accounts are updated daily & EContract Notes are sent without fail.

Cheers
PAKatil

lvgandhi · #5 20th June 2007, 09:55 PM

Quote:

Originally Posted by J_D

Anyone trading with Religare? How is the trading experience..? Pls share your views?

I am trading with religare for last 8 months with freedom plan. Initially there were hiccups with contract notes, site speed, order placement etc. Now adays it is ok.
If you opt for freedom plan, which is better than the normal plan for all investors/traders.
for Rs4000/ paid per annum as membership, you get
in Delivery
First Rs.10000 in BSE and NSE each is brokerage free.
Next with in 100000, it will be charged 0.3% brokerage. If it is more than 100000, it is charged 0.2% brokerage.
For margin
First Rs.100000 in BSE and NSE each is brokerage free
Next with in 1000000, it will be charged 0.03% brokerage. If it is more than 1000000, it is charged 0.02% brokerage.
You can plan plan your trade accordingly.
Their Racepro is exe based trading platform with charting facility. Charting facility is with basic indicators.

nileshp · #6 21st June 2007, 12:55 AM

I have joined Religare last month.However nearly even after a month I have not received the full starter kit.Neither the reprsentative nor anybody in office responds to calls.The only response is "The concerned person is in a meeting, he will call you back" however nobody cares to call.
I have deceided to close my account with Religare.It is for you to deceide whether you want low brokerage with this kind of service.

saji oommen · #7 21st June 2007, 08:20 PM

Hello,

Could any religare user confirm while opening account with them you were asked to sign a power of attorney in Rs 100/- stampaper that virtually gives them full rights over your bank account. There is a specimen format of POA in the application form for Race pro on page No-25.The clauses are quite unnerving.

My query is while opening the account did you sign on the specimen format itself and go it attested by a notary or on a Rs 100/- stampaper. The local religare official is insisting on stamp paper to be certified by a notary. I do not understand this procedure since no online broker allows you to trade more than the deposit made or in the case of margin trading the exposure is well protected.

To my best of knowledge no other online brokers has this procedure.

Regards

Saji

J_D · #8 21st June 2007, 11:37 PM

Thanks pakatil, lvgandhi,nilesh thank you for your inputs on the religare membership.. I was planning to opt for one.. I will decide in due course..

POA to be signed even for ICICI Direct also.. Eventhough it is printed in the form as optional,it also gives a hint that seamless operations will not be possilbe if POA is not signed..

Is there any real option for the customer to delete certain portions printed in the POA? I dont think so..

I think with every broking entity you need to give the POA..

Any views on this..

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