Is Reliance Money any better now ?

coolboy007 · #11 18th September 2008, 10:34 PM

Quote:

Originally Posted by ratan jain

Oh I heard there has been a lot of improvement.

I have heard that now you can actually get an order confirmation withing 2 hours of punching the order, if the order is punched before 12 pm.

Also, all order cancellations and order modifications are reflected within 3 hours compared to 2 days previously.

Further, it even prepares you for next days trading, as all orders punched after 1 pm are confirmed by 11 am the next morning

Thats all wrong ,

Whenever i do future option or anything in delivery i get order confirmation within 10 secs , sometimes i face prob arnd 3:15 pm when order is not confirmed but it was always traded. Anyone using relmoney currently will agree with me.
If u were an intra player , told yaa its not for intra.
I am happy , mere baap ka relmoney to hai nahi jo main jhuti praise karunga. Its ur wish yaar , am happy others may be not.

andygp · #12 19th September 2008, 09:54 AM

Rather than being sarcastic it would be good if one mentions actual incidences happened to them (not hearsay), that way we can all learn and be careful.

In my case RMoney only once was not able to provide me confirmation instantaneously. In fact on the crash day in January RMoney was much more stable as compared to even ICICI Direct or Kotak.

The fact that they don't provide margin on DMAT securities should be a big deterrent for medium portfolio size people from using them. E.g. if you have securities worth say 10L in your DMAT, then after haircuts etc. you will have 7L as available money for your derivative trades. 7L in liquid fund is 50k/year, so once you add this opportunity cost to your RMoney brokerage (0.004%) at ~20Cr/year turnover adds 0.025% to your brokerage. I believe lots of brokers will allow you 0.01-0.02% brokerage with margin facility and will provide something like ODIN which is many times better than instatrade.

Aman1 · #13 20th September 2008, 02:08 PM

can you trade rupee future on nse through Rmoney

BUZZ · #14 21st September 2008, 07:23 AM

Should we chosoe delivery order to buy and sell for intra day trading or use marginal or ATST?
Is intra day trading also needed to pay for 12 Rs for each transaction in Monthly statement like delivery orders?

Pls suggest

coolboy007 · #15 21st September 2008, 02:58 PM

Quote:

Originally Posted by BUZZ

Should we chosoe delivery order to buy and sell for intra day trading or use marginal or ATST?
Is intra day trading also needed to pay for 12 Rs for each transaction in Monthly statement like delivery orders?

Pls suggest

If you want to play INTRADAY then select MARGIN ,you get 5 times exposure for intraday in relmoney means if you have 5000 you can buy or sell worth 25000 for 1 day. IF u want to hold shares then select DELIVERY , selecting ATST ( acquire today sell tomorrow ) doesnt matter as if you have bought A group shares like relinace unitech in delivery , next day they will automatically come in ATST mode.

ATST is dangerous as if there is a short delivery then you would have to pay auction charges which are quite huge , i have never faced it till now in 6 months but you never know.

Regarding 12RS if you havent signed mandate form , then only 12rs will be applied if YOU SELL ANYTHING from DEMAT. IF u have signed mandate then on each trade 12rs is levied.

BUZZ · #16 21st September 2008, 04:30 PM

Quote:

Originally Posted by coolboy007

If you want to play INTRADAY then select MARGIN ,you get 5 times exposure for intraday in relmoney means if you have 5000 you can buy or sell worth 25000 for 1 day. IF u want to hold shares then select DELIVERY , selecting ATST ( acquire today sell tomorrow ) doesnt matter as if you have bought A group shares like relinace unitech in delivery , next day they will automatically come in ATST mode.

ATST is dangerous as if there is a short delivery then you would have to pay auction charges which are quite huge , i have never faced it till now in 6 months but you never know.

Regarding 12RS if you haven't signed mandate form , then only 12rs will be applied if YOU SELL ANYTHING from DEMAT. IF u have signed mandate then on each trade 12rs is levied.

Thanks you for the clarification.

Margin is kind of borrowing money from brokers. So this point is clear.

if I select Delivery for buying and selling for intraday, will there be any extra charges?

Mandate is also charged for intra day trading? (in Monthly report).

How to stop the 12 Rs charges? Is it that I have signed the broker charges paper during a/c opening signatures? Actually they call is DP charges ( in Monthly report for 12 Rs for each transaction.

I did not know that they are charging.. I saw monthly report ( buy/sell) 12Rs is applied.

What I suppose to do to avoid this unnecessary charge?

Btw I only do online trading. I don't have any broker assigned etc..

Rgds

coolboy007 · #17 21st September 2008, 05:16 PM

Quote:

Originally Posted by BUZZ

Thanks you for the clarification.

Margin is kind of borrowing money from brokers. So this point is clear.

if I select Delivery for buying and selling for intraday, will there be any extra charges?

Mandate is also charged for intra day trading? (in Monthly report).

How to stop the 12 Rs charges? Is it that I have signed the broker charges paper during a/c opening signatures? Actually they call is DP charges ( in Monthly report for 12 Rs for each transaction.

I did not know that they are charging.. I saw monthly report ( buy/sell) 12Rs is applied.

What I suppose to do to avoid this unnecessary charge?

Btw I only do online trading. I don't have any broker assigned etc..

Rgds

That only customer care can tell you if you have signed the mandate or not , DP charges is different this charge doesnt go to relmoney , it goes to CDSL where your shares are kept in demat form it is charged on every sell ONLY SELL transaction from your demat. If you see and CDSL BILL OR NSDL BILL its not mandate mandate is not shown in the ledger report i think.

Anyways if you have signed the mandate unknowingly call customer care and enquire that you have mandate enabled or not , if it is enabled then take a form frm nearest branch to cancel it MANDATE CAN be cancelled , its levied on every transction you do , even if u buy 2 rs share.

INTRADAY OR SELLING hmmm?? Brokrg is different if you have 500 2 month card then DELIVERY t/o limit is 10lk and margin 90lk. TAxes are also more in delivery.

drkpg70 · #18 21st September 2008, 06:01 PM

thanks a lot of all the members discussed about reliance money. i was in the position to have an opening a newc trading ac with it. but bwhat all u r saying that is not very reliable,i think and i think till today atleast sharekhan is the best service priovider and instant quoter with all customer care executives with in his office ready at all the time. but due to some unfortunable situations,i am saying byebye to it.anyone will me tell the best commodity and f&o broker with very much competitive brokerage for fast trade purpose.

coolboy007 · #19 21st September 2008, 06:46 PM

Quote:

Originally Posted by drkpg70

thanks a lot of all the members discussed about reliance money. i was in the position to have an opening a newc trading ac with it. but bwhat all u r saying that is not very reliable,i think and i think till today atleast sharekhan is the best service priovider and instant quoter with all customer care executives with in his office ready at all the time. but due to some unfortunable situations,i am saying byebye to it.anyone will me tell the best commodity and f&o broker with very much competitive brokerage for fast trade purpose.

For any intraday or a frequent trader relmoney is a big NO , though brokrg is less its not for intraday traders ,its improving but it would take time. I took a risk for 750 rs and i am happy!!! . BTW i am not a intraday player!

BUZZ · #20 22nd September 2008, 07:00 PM

Quote:

Originally Posted by coolboy007

That only customer care can tell you if you have signed the mandate or not , DP charges is different this charge doesnt go to relmoney , it goes to CDSL where your shares are kept in demat form it is charged on every sell ONLY SELL transaction from your demat. If you see and CDSL BILL OR NSDL BILL its not mandate mandate is not shown in the ledger report i think.

Anyways if you have signed the mandate unknowingly call customer care and enquire that you have mandate enabled or not , if it is enabled then take a form frm nearest branch to cancel it MANDATE CAN be cancelled , its levied on every transction you do , even if u buy 2 rs share.

INTRADAY OR SELLING hmmm?? Brokrg is different if you have 500 2 month card then DELIVERY t/o limit is 10lk and margin 90lk. TAxes are also more in delivery.

How much is the charges for selling from demat account then?

For one year I need not to charge my card.. It is free for one year ( that time promotion I guess)

I mean if i buy shares on same day using delivery and sell them on the same day .. is it different charges than the using option of margin.. or both are considered same in respect of intraday charges?
rgds,

The Following User Says Thank You to andygp For This Useful Post:
coolboy007 (19th September 2008)