Any body know about R Trade?

i wanted to tell u one of my incidence with R money .the said was took place on 11th April,07.

11.04.07
i bought 550 of idbi at 79.40... i sold 200 @ 79.70 and remaining @ 80 since i know that 80 was resistance.
then when price started to drop i short sell again 550 at 79.90
i place buy order @ 79.40 for 200 and 79.10 for 350 remaining

but R money had problem with there system...so my 79.40's buy order could not got executed...the price had support @ 79.40 so in 1/2 hrs time it touched at list 20-30 times....but my order could not got executed... it was around 2 p.m.....so i called up their customer care and told the matter....

afterwards i was given assurance that the order is executed at my given price...i spoke with them for 4 times in 45 minutes...i had time only till 3 - 3.10, after 3.10 my order should have cancled first and the scrip will be sqr off at that time's price.....so i was insisting them to do something to avoid the losses.

one executive offered me to sqr off from her side which i agreed...my ledger was not showing me proper balance...trade book also not showing the executed order...even order book was showing my 79.40 order as pending..so i tried to place the order at market price after 3.15... and price was moved down to 78.30 which was good for me
but that too was rejected..i agin called them up and confirmed that even it is not reflecting in legder, trade book or order book my order is already executed.so i shut the system ...

12.04.07
now today when i opened my ledger... i saw negative balance...
i imeediately called them up for clarification, so they told me i got delivery of 200 shares, but demat was not showing up that...may be becoz of T+2 system

the point is , i saw contract note in which it was showing a buy order of 200 @ 78.30 what that lady told me is my yesterdays order sq off @ 78.30 and the order i placed for 79.40 for which i got delivery,
afterall i have placed the order to sq off the position, it was there system that had some faults..due to which my placed order could not executed...

now my queries r ......

HOW COULD I GOT EXTRA 200 NO. SHARES, EVEN WHEN MY ORDER TO SQUARE OFF MY POSITION AT 3.15 AT MARKET PRICE GOT REJECTED ?

How could R money allowed me to buy more than my ledger balance and keep it overnight ? without even calling me up for the same ?

lucky i was that the next day i could sqr off my position for the more price than my purchase, it that was not the case, why should anyone suffer a loss for the mistake not made by him/her ?

Hi Narendra,

For the Rs. 500 Plan, as you already know that there is a segreggation of turnover limit as Rs. 90 Lac for Non-Delivery & Rs. 10 Lac Delivery. I would like to know if I don't utilise the Rs. 10 Lac Delivery limit, would that be transferred & clubbed into the Non-Delivery limit to make the Non-Delivery limit to Rs. 1 crore ? If this is the case, then it would further bring-down the brokerage level to a true 0.005% for Non-Delivery trades.

Kindly provide your valuable feedback.

Thanks,

Siddique

If you don't utilise the Rs. 10 Lac Delivery limit, that will be transferred & clubbed into the Non-Delivery limit to make the Non-Delivery limit to Rs. 1 crore . This Non delivery limit also carry forward and clubbed with next recharge voucher also.

Hello GV narendra,

Since you are a user of PIB also i would like to ask you whether reliance money has the cash delivery trades facility as in PIB. In PIB you are allowed 4 times cash delivery trades aginst the cash deposit which needs to be squared up in 7 days time. But brokerage is higher and charged at delivery based trades rates.

Does reliance money has similar facilty if so what is the limit allowed and is the brokerage charged on delivery basis.I am satisfied with PIB as a user but looking to get better terms in brokerage since i am more of a delivery based trader.

One more query after using reliance money for some time what are the general advantages or disadvantages that you may have noticed in relation to other trading platforms in addition to lower brokerage. An update from your side will be highly appreciated and will be beneficial to all forum members.

Regards
Saji

Hi Saji,
I saw your query today. The exposure limit for intraday trading is 5 times. And for delivery you have to have the cash.
For your second query:- The biggest advantage is the brokerage part. It is way below any other good brokerages. As for the window the disadvantage is the intraday chart is not available. The platform is quite ok. Only problem is you have to refresh any window everey 15 min. Otherwise it will go off and you have to relogin. Their acconting tranparency is better and they tell it will be more sophisticated in the coming days.
gvnarendra

Hello,
I had a question about the brokerage structure for pure delivery based trading. The posts indicate that the brokerage is Rs.500 for upto Rs.10 lacs worth of delivery based trading. Is that correct ?

If the above is correct,then it seems that RK Global would be more cost effective for delivery based trading if the volumes are above Rs.20 lacs per month approx. since they charge a flat fee of Rs.1000 per month. Would you agree ? Thanks.

VN.

Security token query

Does one need to use the security token every time a trade is placed or only
for login. ?

Thsnks

hi heatel

please send me the r trade brokerage cost details
i have already trading in sharekhan but
i think its over cost

only for login

no, its used for login only

and the cost structure is as follows
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

THIS IS A VERY GOOD WAY TO TRADE FOR REGULAR TRADERS