Beware of RelianceMoney !
- Thread starter sudhir gupta
- Start date
I too been suffering from Reliance Money
and just yesterday I have written an email to Reliance Money, and I have published the email at my blog so people can start hammering Reliance Money for its arrogance and negligent attitude towards its customers.
*******************
To : [email protected]
Sub : Unable to login and many more problems
Dear Sirs,
I am Reliance Money subscriber and my user name is ********. I am unable to access login page, and even with great difficulty when I get the login page it is next to impossible to log in. Surprisingly while off hours (non trading hours) RM works somewhat smoother than trading hours. Therefore, I feel that your server is not capable to handle the traffic during trading hours, and thus my reliance money trading account becomes useless as I cannot trade. Kindly do not advise me to check my system, internet connection and other plethora of settings, as I have been using computers and internet for more than 10 years, and all other sites works fine with my BSNL boradband connection except Reliance Money. And I have three different PC (all with BSNL Broadband ) but the experiences remain same.
Further you do not provide any client side software which I can install and run on my PC, which would be quite easy on your servers. I know Motilal Oswal, Kotak etc. provide neat software and I have worked with them, they give better experience of trading.
I am also frustrated about auto log out feature. Perhaps Reliance Money has put the feature as security measure, but I find it annoying. You should put an option allowing me to turn on or off Auto logging out, so I can have selection. No doubt auto logging feature allows Reliance Money to somewhat lessen the burden on their servers, but I consider it annoying and term as DEFICIENCY IN SERVICE. I have to keep on clicking uselessly just not get auto log out.
Surprisingly , auto log out feature is also in Reliance Money Mail , and often logged out while typing an email to you and then I reach to height of my frustration. Thus I am writing to you through my ***** account
Another thing I am puzzled about is trading lock on certain stock which is lesser than 10-00 Rs. and which has small volume. As Reliance Money requires 100 % advance before I am able to place any order, in my view such trading restriction is not useful, except they fetch very little brokerage to you. There are many stock which are of face value of Re.1-00 and thus below Rs.10-00, but not necessarily risky stocks. I have lost many such trading opportunities on account of that restriction and I had to buy the same through my broker.
If you have any plan to update the servers and other features, I perhaps can wait for some weeks to see improvement else I am moving out of Reliance Money.
Hope to get humanly (not mechanical one) response, that to in reasonable quick time.
I am sending this to my Reliance Money agent who recommended Reliance Money to me, and other subscriber to whom I unwisely recommended to use Reliance Money.
Yours frustrated,
*****************
and just yesterday I have written an email to Reliance Money, and I have published the email at my blog so people can start hammering Reliance Money for its arrogance and negligent attitude towards its customers.*******************
To : [email protected]
Sub : Unable to login and many more problems
Dear Sirs,
I am Reliance Money subscriber and my user name is ********. I am unable to access login page, and even with great difficulty when I get the login page it is next to impossible to log in. Surprisingly while off hours (non trading hours) RM works somewhat smoother than trading hours. Therefore, I feel that your server is not capable to handle the traffic during trading hours, and thus my reliance money trading account becomes useless as I cannot trade. Kindly do not advise me to check my system, internet connection and other plethora of settings, as I have been using computers and internet for more than 10 years, and all other sites works fine with my BSNL boradband connection except Reliance Money. And I have three different PC (all with BSNL Broadband ) but the experiences remain same.
Further you do not provide any client side software which I can install and run on my PC, which would be quite easy on your servers. I know Motilal Oswal, Kotak etc. provide neat software and I have worked with them, they give better experience of trading.
I am also frustrated about auto log out feature. Perhaps Reliance Money has put the feature as security measure, but I find it annoying. You should put an option allowing me to turn on or off Auto logging out, so I can have selection. No doubt auto logging feature allows Reliance Money to somewhat lessen the burden on their servers, but I consider it annoying and term as DEFICIENCY IN SERVICE. I have to keep on clicking uselessly just not get auto log out.
Surprisingly , auto log out feature is also in Reliance Money Mail , and often logged out while typing an email to you and then I reach to height of my frustration. Thus I am writing to you through my ***** account
Another thing I am puzzled about is trading lock on certain stock which is lesser than 10-00 Rs. and which has small volume. As Reliance Money requires 100 % advance before I am able to place any order, in my view such trading restriction is not useful, except they fetch very little brokerage to you. There are many stock which are of face value of Re.1-00 and thus below Rs.10-00, but not necessarily risky stocks. I have lost many such trading opportunities on account of that restriction and I had to buy the same through my broker.
If you have any plan to update the servers and other features, I perhaps can wait for some weeks to see improvement else I am moving out of Reliance Money.
Hope to get humanly (not mechanical one) response, that to in reasonable quick time.
I am sending this to my Reliance Money agent who recommended Reliance Money to me, and other subscriber to whom I unwisely recommended to use Reliance Money.
Yours frustrated,
*****************
Jvblogger,
thanks for writing that to RM. on 4th june 2008, I could not protect my profit due to sudden server problem, i bought rpl @ 175 when it was rising after fuel hike, and as soon as i tried to enter trailing stop (within 10 seconds) @ 176, Reliancemoney website (easytrade, fasttrade, instatrade) were not responsive.
from 1230pm to 4pm, reliancemoney was stuck and not working!!! May be they are blocking RM customers from selling their stocks.. by denying the service!!!
thanks for writing that to RM. on 4th june 2008, I could not protect my profit due to sudden server problem, i bought rpl @ 175 when it was rising after fuel hike, and as soon as i tried to enter trailing stop (within 10 seconds) @ 176, Reliancemoney website (easytrade, fasttrade, instatrade) were not responsive.
from 1230pm to 4pm, reliancemoney was stuck and not working!!! May be they are blocking RM customers from selling their stocks.. by denying the service!!!
U
If you trade everyday in multiple scrips then apart from your profit / loss we are to see an outgo of a good amount towards brokerage which when added at month's end it is a handsome money.Now if we can negotiate & reduce it even by a fraction it will be few K at month end,provided the trading facilities are not compromised.
It could be possible that the user Id and password you got was for Trade Now and NOT for InstaTrade.
As of now InstaTrade is avaliable only for franchises and not for retailers..It will be soon made avaliable to normal traders too. The user ID and password are different for all three- TradeNow, InstaTrade and PowerTrade.
Moreover if possible you assign another person as your nominee, ofcourse who has a PAN card..
Contact RM or the person who opened your account..I think this matter can be solved..
Dont panic
As of now InstaTrade is avaliable only for franchises and not for retailers..It will be soon made avaliable to normal traders too. The user ID and password are different for all three- TradeNow, InstaTrade and PowerTrade.
Moreover if possible you assign another person as your nominee, ofcourse who has a PAN card..
Contact RM or the person who opened your account..I think this matter can be solved..
Dont panic
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