Reliance Money Reviews

Options Turnover Calculation at RelianceMoney

Guys-
I am somewhat confused at the way turnover is calculated at RelianceMoney in respect of options. Everytime I trade options, the system deducts a turnover in a close resemblance to futures. For example if I buy some NIFTY option at 220 premium (say NIFTY at 5500) and sell at 230 (say NIFTY at 5540), it calculates the TO like 220 * 5500 + 230 * 5540 which amounts to about 2.5 Millions. Now at a Rs 500 card, I get a TO limit of 10 mils.

I initially asked one tech support executive and he answered that it should be like 220 * 50 + 230 * 50 = 22,500 and that appeared absolutely perfect and conforms to my understanding. But in actuality, the deductions are much more.

I'd greatly appreciate if anybody faced this trouble and how it's been sorted out.

Thank you and best regards

- Sukhen
 
I used AXIS Bank (earlier UTI Bank) and there was absolutely not a problem and in fact, the fund was added to the equity in a fraction of a second by iConnect. After reading the horror stories in the major newspapers including goons etc about ICICI Credit Card, problem with ICICI Bank accounts etc, I try to avoid the ICICI group at all costs. I have got nothing against ICICI group as such but am concened and sharing.

RM platform sometimes is slow in showing price quotes but speed of execution of it is not bad. It's becoming slowly stable. That's what is my personal perception. I like RM on another count. Although it sometimes becomes difficult to reach them, the tech support executives are usually very helpful in nature, so far they have tried to help me earnestly when I needed them but must admit that they have not honored their commitment regarding calling me back on technical issues.

I'd like to share one experience on another note - I made Rs 5/= only in a trade yesterday in gross terms. After all the deductions, at the contract note, I saw a net profit of Rs 2.28. Initially, I hated Insta Trade but although it's not 180 degree turn around, I've become significantly positive about it.

All the bests and wishing you success

- Sukhen
SIR YOU R RIGHT I M ALSO IN THE SAME BOAT RMONEY HAS MANY PROBLEMS BUT THEIR FUTURE IS VERY BRIGHT N MY ALSO.
DON'T SEE WHAT THEIR SYSTEM SHOWS KEEP ADIARY N NOTE EVERY THING WHAT YOU DO TALLY THAT DATA WITH THEIR CONTRACT NOTE.
------GOOOD LUCK ----------------HAVE A NICE TRADING------------
 
Re: Options Turnover Calculation at RelianceMoney

Guys-
I am somewhat confused at the way turnover is calculated at RelianceMoney in respect of options. Everytime I trade options, the system deducts a turnover in a close resemblance to futures. For example if I buy some NIFTY option at 220 premium (say NIFTY at 5500) and sell at 230 (say NIFTY at 5540), it calculates the TO like 220 * 5500 + 230 * 5540 which amounts to about 2.5 Millions. Now at a Rs 500 card, I get a TO limit of 10 mils.

I initially asked one tech support executive and he answered that it should be like 220 * 50 + 230 * 50 = 22,500 and that appeared absolutely perfect and conforms to my understanding. But in actuality, the deductions are much more.

I'd greatly appreciate if anybody faced this trouble and how it's been sorted out.

Thank you and best regards

- Sukhen
JUST FOCUS ON YOUR TRADING THERE CAN BE A PROBLEM BUT THEY ARE STILL AT LOWEST.;)
 
babus and friends..

am new to this and heard lot about rmoney..

what do you suggest..to go or not to go with rel money...

pls pls pls helpppp
6 days back u were asking if rmoney was worth joining.

In 5 days u have joined them, traded with them and even had good experiences with them.

U must be Anil's brother in law, to get such quick service :)
Other poor mortals on this forum have to wait an average 3 weeks to get their starter kit.
Oh by the way, of these 5 days, 3 days were holidays ......................

U bribing the ambani brother or what?
 
6 days back u were asking if rmoney was worth joining.

In 5 days u have joined them, traded with them and even had good experiences with them.

U must be Anil's brother in law, to get such quick service :)
Other poor mortals on this forum have to wait an average 3 weeks to get their starter kit.
Oh by the way, of these 5 days, 3 days were holidays ......................

U bribing the ambani brother or what?
YOUR TRACK RECORD IS VERY WELL
 

Similar threads