Reliance Money Reviews

#81
Hi everyone at Traderji.com
I saw many requests for a review about Reliance Money. I am a distributor for Reliance Money and so, I thought, it would be not just a help but a duty to provide the interested people with the required information. I have explained everything related to Reliance Money here. I look forward for your views, suggestions, comments, queries, etc. Further, honestly, I look for some good business over here. Do open a Reliance Money account if you feel its better than what you are using now. I would be grateful to you

Reliance Money- a single window for all your financial transaction needs

About Reliance Money
We all know the effect of the word Reliance on us. A company which has entered almost every arena of business and created wonders. Every project taken up by the company turns into a golden project. The company has something, which we can call as, The Midas Touch. Well, Reliance Money is the electronic transaction platform associated with Reliance Capital; one of India's leading and fastest growing private sector financial services companies, ranked amongst the top 3 private sector financial services and banking companies, in terms of net worth

What is Reliance Money?
Reliance Money offers a comprehensive platform, offering an investment avenue for a wide range of asset classes. Its endeavor is to change the way India transacts in financial markets and avails financial services. Reliance Money offers a single window facility, enabling you to access, amongst others Equity, Equity and Commodity Derivatives, Offshore Investments, IPOs, Mutual Funds, Life Insurance and General Insurance products

Why Reliance Money?
Reliance Money is the most cost-effective, convenient and secure way to transact in a wide range of financial products and services
The highlights of Reliance money's offerings are:
Cost-effective
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

Convenience
You have the flexibility to access Reliance Money services in multiple ways: through the Internet, Transaction Kiosks, Call & Transact (phone) or seek assistance through our Business Partners

Security
Reliance Money provides secure access through an electronic token that flashes a unique security number every 32 seconds (and ensures that the number used for earlier transaction is discarded). This number works as a third level password that keeps your account extra safe

Single window for multiple products
Reliance Money, through its affiliates/partners, facilitates transactions in Equity, Equity & Commodity Derivatives, Offshore Investments, Mutual Funds, IPOs, Life Insurance and General Insurance products
Note: All overseas investments are subject to rules, regulations and guidelines of the Reserve Bank of India as laid down from time to time

3 in 1 integrated access
Reliance Money offers integrated access to your banking, trading and demat account. You can transact without the hassle of writing cheques

Demat account with Reliance Capital
Hassle free demat account with Reliance Capital. The Annual Maintenance Charge for the Demat Account is just Rs. 50/- per annum

Other Services
Through the portal www.reliancemoney.com, Reliance Money provides:
a. Reliable research, including views of external experts with an enviable track record
b. Live news from Reuters and Dow Jones
c. CEOs'/experts' views on the economy and financial markets
d. The Personal finance section provides tools that help you plan your investments, retirement, tax, etc
e. Analyze your risk profile through the Risk Analyzer
f. Get a suitable investment portfolio using the Asset Allocator

For more details, please do write to me [email protected]

And please ensure that, in case you are willing to open an account, please contact me and I will do it. I too will be benefited by your help. In fact, you will help me a lot by opening an account through me
What is the account opening fee,intra-day exposure, Auto sq. off time etc.?
You have not mentioned these things.
Pl.reply
 
#82
This is reply from customer support on pricing:
---------------------------------------------
This is with reference to your email at Customer Support enquiring about starting of the operations and pricing structure

The pricing structure is as follows:

A/c Opening Charges-Rs-750/-


Trading Card – Equity, F& O & Commodities: Virtual card of Rs-500/-
Validity of the card - 2 months
Volume: 1cr Turnover (within which Rs.90lakhs for intraday & Rs.10lakhs for delivery)

Brokerage --- Re.0.01 per executed trade


Taxes as applicable in states (like Service Tax, Turnover Charges, Stamp Duty, Educational Tax & Securities Transaction Tax, and SEBI Charges.)

Assisted trade through Sub-broker / call and trade desk - Rs.12/- per executed trade.

After you go through the above information, please provide us with your following details, our concerned sales representative will contact you.
Name:
Contact No. :
City:
State:
In case of further assistance please feel free call us at 39886000 or email us at [email protected]

Yours sincerely,

Customer Suppor
 
#83
In Reliance Money application:
If we donot have bank a/c with HDFC, UTI, IDBI, they had given option to use Reliance Mutual Fund's Liquid Fund folio to transfer funds.
Did anybody used this liquid fund option for reliance money? Please share details on how this works?

Thanks
 
#84
I activated EasyTrade of RelianceMoney but was not successful while activating InstaTrade. Uponcontacting their customer service, they told me that InstaTrade is not activated BY-DEFAULT & that a customer needs to give his request for the activation. Though I have already done the same but would like to know how long does RelianceMoney take to activate InstaTrade ?

-Siddique
 
#85
Sir,
If you place an order through telephone and if your order gets executed or partly executed then only Rs 12 will be charged for that order.Whatever your order size,the rate is fixed at Rs 12.If you place an order for buying 100 lot nifty futures the rate will be Rs 12.If you place order for 1 lot ,the rate will be the same. Hope this will help you.
Happy Trading.
Regards,
Disciple.
Thank u for the info.

If I am trading online, will they charge me this 12 Rs?
 
#87
I activated EasyTrade of RelianceMoney but was not successful while activating InstaTrade. Uponcontacting their customer service, they told me that InstaTrade is not activated BY-DEFAULT & that a customer needs to give his request for the activation. Though I have already done the same but would like to know how long does RelianceMoney take to activate InstaTrade ?

-Siddique
In Pune they said INSTATRADE is only for those traders whose daily turnover is
above 1 crore.
Is it true?
Instatrade is just a browser based platform and jvm is required to function.
 
#88
In Pune they said INSTATRADE is only for those traders whose daily turnover is
above 1 crore.
Is it true?
Instatrade is just a browser based platform and jvm is required to function.
what??? what about their Software???? is anybody in our forum using it?
Please reply urgently.Why they ask for 1 crore turnover? they are taking 500RS. for 1 crore turnover in theree months?
senior members plz reply.
Debdulal
 
#89
what??? what about their Software???? is anybody in our forum using it?
Please reply urgently.Why they ask for 1 crore turnover? they are taking 500RS. for 1 crore turnover in theree months?
senior members plz reply.
Debdulal
They are taking RS.500 for 1 crore turnover for 2 months but trading platform is just like ICICIDIRECT and no streaming quotes.
They have another scheme i.e. Rs 500 card ;validity 1 year , however turnover is just 5 lacs. They said this scheme is for investors.
Also intraday exposure is five times and auto sq. off time 3 pm.
 
#90
In Pune they said INSTATRADE is only for those traders whose daily turnover is above 1 crore.
Is it true?
Instatrade is just a browser based platform and jvm is required to function.
No I don't think INSTATRADE is only meant for high-volume traders. It can be used by small traders as well. There is no such condition.

I talked to their customer service for activation of my INSTATRADE & they never mentioned any such condition. They said that INSTATRADE doesn't come activated by default for traders holding new RM A/c but it is activated by default for their franchisees/associates who provide trading services to their clients(ofcourse who hold RM A/c.)

-Siddique
 

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