Opinion on RelianceMoney plz...

Hi,

I wish to begin my online trading.
What is your opinion on pursuing online trade with RelianceMoney?
Any better options for a novice trader like me?
Economy and reliability are the deciding factors...

Also please let me know if paper trading is useful...and how to go about it!

Thanks in advance.

I got attracted by there low brokerage or no brokerage concept. Whatever the cost is, opening an account itself is a time consuming process and if you are a new investor better not to start with reliance, they are less reliable.

I am waiting for my account to be opened there.


The comments i received from my fellow traders circle is not favourable either.

Rmoney is better than ICICIdirect as of now

if u place order today it will b confirmed tomorrow and will be traded day after. it is that slow

hahaha, what an excellent trading platform.

Finally I received my "Welcome Kit " " welcome to ...... i dont know"
In there demo something is shown and the same is not made available to the customer. He have to request for that instatrade. The only attraction is the low brokerage which i have to see on my way to hell.

shanku1061, can you plz let me know how many days(weeks?) it took for the process. I applied on 30th last month.
Thanks,
Raj

In my case it took more than seven weeks, but for that I dont blame reliance as I was out of town during those days and the kit bounced back.
In my opinion the delay cant be the only irritant, if that is the case we can forgive reliance. Whoever ready to do the trading / investment shall be doing that after proper study so it doesnt matter if that is delayed by few weeks or a month. Benchmark shall be the service.

Hi,

pls refer to my post here at traderji:

http://www.traderji.com/brokers-demat-matters/17423-please-avoid-reliance-money-1-cheaters.html

My sicere advice:
NEVER GO TO RELIANCE MONEY, OR BE READY TO LOSE ALL YOUR MONEY

NEVER GO TO RELIANCE MONEY, OR BE READY TO LOSE ALL YOUR MONEY

Exactly....do not rely on reliancemoney - they will gulp all the butter and honey.......

Is Mr. Ambani ready for this failure venture.........hope he is aware of his people and software performance..and all that is going on behind the screens....SEBI...needs to act on this.....