Any body know about R Trade?

i wish to say that reliance money offer seems to be too good to be true.but what is their margin on intraday and what about the online website

Hi ajayab,

Please search the site traderji.com, you will get many many responses & details for RMoney.

-Siddique

I have also seen similar problems on several occasions. Usually after 3.00 pm (and sometimes before that too) many of the orders placed are shown as "INPROCESS" in the Order Book. This means that the order is in que for being sent to NSE. You cannot even modify or cancel these orders. Sometimes, this "INPROCESS" status remains for 20-30 minutes or even more. Meanwhile, the market may change drastically more than once. So, you loose money and precious opportunities. Once I was calculating and found that the low brokerage advantage on RMoney is taken away by losses due to such "INPROCESS" orders.

I have heard that RMoney people deliberately use this "INPROCESS" trick. While the person who placed the order gets the "INPROCESS" or in que message (i.e., for him, the order is yet to be sent to NSE), but the order is sent to NSE in some other client name or pseudonomously. If the order results in profit, somebody else pockets the profit while the real client keeps getting the "INPROCESS" message till the end. On the other hand, if such order does not result in profit or if the market reverses after some time, this "INPROCESS" order is shown executed for the original client after a delay of 10-15 minutes but generally with the original time-stamp.

People say that Rmoney (or some employees in the Rmoney) is making money in this manner, compensating for low brokerage. So, "RMoney" is "Our Money". One wonders whether the SEBI or NSE will dare look into such malpractices, if at all they exist.

Hello Sir,
I am really shocked to hear this.You might have grievances for any company but you should at least save your imagination power for other good causes.
I request you to give the details of the source.And if you think that you have heard it from right kind of source please go ahead and do the necessary thing which one responsible citizen should do.I hope you understand my point.
And please for God's sake,do not show us your imagination power and spread these kind of cheap rumour agianst any company.
God Bless You.

I hv been e-mailing constanly to R-Money. Hardly get any response nor I see any improvement in their website. Insta-trade is worst. Only advantage in insta-trade is that one can list out scrip codes in Mkt. watch, whereas in Web site one has enter the scrip code after finding out each time different scrip code for NSE/BSE. The Reliance Group, which according to my observation has some innovation each time everywhere failed miserably in R-trade. It is shame to know that they have come out with poorest trading platform. God knows as to when one can see some improvement in customer service as well as website.

INPROCESS thing happens only if u r trading on margin. Obviously they cancle all ur given orders on 3 p.m. and sq/off ur position on 3.10 p.m. sometimes it works in ur favour sometimes not. but at least this is a good option i say. u can put ur stoploss orders as well as ur targeted exit order and even if u shut down ur system there will be no problem. either of ur position in margin will get sq.off by end of the day.

In 5paisa they dosen't have such restiction of 3p.m. / 3.10 p.m. etc. . in my 5paisa account they block the money for each order , so i can not place stoploss and limit order simultaneously when trading on margin, so have to keep watch alertly. once i short sold and then the electricity went off, my sold scrip went to Auction for the mistake not made by me. having Rmoney sq/off position by 3.10p.m. is very much relaxing.

try to sq/off ur position by urself before 3 p.m., if not then just track what was the price of the scrip @ 3.10p.m. and confirm the same on the next day in ur contract note.

Shreyadr.,

I would like to clarify that INPROCESS happens not only in Margin trading. This happens even whenever we place order on delivery basis. So far, I had never traded on Margin with R-Money and have faced 'INPROCESS ' problem very often. I wonder whether R-Money would improve at all.

Dear Bangerabs,
It seems you are attached with RMoney or are an associate of persons who are in sync with RMoney. You wish to see screenshots or actual accounts where bad(in ur terminology) people have accrued losses due to RM. I can provide all details as long as u provide me with ur actual Mobile No. I can only say that RM is the biggest cheat on this earth, as I have lost Rs. 30000 because of their portal. Please sell Reliance Capital shares ASAP, because such fraudulent acts can't go on for too long.

It is not correct. INPROCESS happens regularly in other categories also, such as in Derivatives trading. In fact, till date, I have never done any margin trading but still have faced a large number of INPROCESS problems. Secondly, Derivative trading, though similar in nature, is different from margin trading. In margin trading, the positions are squared off after 3 pm, but in derivatives I am continuing the positions till the expiry date which is normally for a month or so.

The problem mentioned by me with regard to INPROCESS is genuine problem faced by me on several occasions which has led to losses for me running into thousands of rupees, and which is much more than the brokerage charged by RMONEY.

Regards

Hello Disciple Sir,

INPROCESS problem is not any imagination. The problem mentioned by me with regard to INPROCESS is genuine problem faced by me on several occasions which has led to losses for me running into thousands of rupees, and which is much more than the brokerage charged by RMONEY.

In fact, it is now my turn to get shocked by your response. I thought that I should share the information which I have heard from other people. There is no smoke without a fire. The problem of INPROCESS is severe and it does exist. And, people (including myself) have lost heavily in this. After having made several complaints to RMoney, why have they not corrected the problem? They don't even bother about replying so what if you have suffered a huge loss. Not even a sorry. I never asked them to compensate me for such losses. But, I reported to them so that they could take corrective measures. But it has not been done.

The purpose of this forum is to share the good and bad experiences. If you want that I should mention only goody-goody things about Rmoney (or about others) and should not mention about bad experiences, then I am sorry - that will not be the correct way. My purpose of writing the earlier message was to educate forum members about the negative things they could or would face while trading. Second purpose was to cross-check the information that I heard from other sources. Naturally, I do not have concrete evidence about such malpractices, otherwise I would have mentioned in my post. How can I get data from their servers? It can be done only by NSE or SEBI, that's why I mentioned let them check it.

On the other hand, I must also clarify that I am also interested in success of RMoney due to the low brokerages they charge which benefits me also. But, I am not interested to pay any extra money through any indirect or dirty tricks or through any malfunctioning in their software (even though it might not be intentional). The question is if this INPROCESS problem is non-intentional then why haven't they corrected the problem or why haven't they responded with at least a sorry message if not with compensation?

So, please try to understand the genuine grievances of other members. One should learn from losses of others and should not wait for one's own losses for learning something.

So, there is no question of defaming any company. Mentioning grievances about a company can always be miscontrued as defaming the company while it may not be so.

Ultimately, I want to see RMoney thrive and succeed, but that can happen only with satisfied customers and not with disgruntled users who loose heavy amounts due to broker's software problems. (Note: I continue to trade through RMoney till date and hope to continue doing so).

Regards.