Reliance capital entered into lucrative online trading business with Reliance money. There are mixed reports about this online trading platform. It shook up online trading business with cheap brokerage charge offer.
Reliance Money is selected as the most secure and best cost effective online trading platform in India in Starcom-Mediavest survey.
Why should you choose Reliance Money?
1. Because it is from Reliance. Reliance capital has big plans regarding this business. It may announce attractive offers to gain market share. Reliance will never enter into a business with small plans.
2. Its brokerage charges are lowest in the country among major providers. With Rs 2500 prepaid amount, you can trade for Rs 5 crore.
3. Site is simple in design, fast to access and easy to find required information.
4. Its daily reports on market trends and technical breakouts are very useful.
5. Website content is divided according to the requirements of experts and beginners.
6. You can trade in Forex, Derivatives, Mutual funds, IPO and buy Insurance.
Why should you stay away from reliance Money?
1. The trading platform is still in development stage. There are many bugs needs to be rectified.
2. Its “Insta trade” service is not up to the standard. Reliance Money software is a java based simple software. It should provide advanced software to meet the needs of advanced traders.
3. Its system is sometimes very slow and orders are not placed at the time.
4. Its market watch solution is a way behind its competitors like Money control and ICICIdirect.
5. Its service people are not as efficient as competitors.
6. It is still not providing options to buy Post office savings.
7. It is recommending few stocks even when stock markets are on roll.
Conclusion: Reliance Money still needs many improvements to its online trading platform. Reliance capital is spending big money to improve the service. It still needs to include more research reports like ICICIdirect website. It should include free mobile alerts for purchases.
It should make complete makeover to market watch page. It is too early to make final judgement on Reliance money.
My Rating: 4/5.
Advice: If brokerage charge is your major problem, switch to Reliance Money otherwise wait and watch. Reliance Money is gradually improving while ICICIdirect is gradually deterioting in creating wonderful trading experience.
Visit the Reliance Money website.
Saturday, May 19, 2007
Review- Reliance Money Online trading
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3 comments:
Reliance money is the worst service any one can get in the indian stock market, your system will fail at least 3-4 times per week, when the market is flat, connection is smooth when it is up or down the site will defnitely be down, DONT EVEN ACCEPT THIS OFFER IF YOU ARE GIVEN BROKERAGE ALSO.
The system once squared off the position also without informing the investors, THEY ARE BIG CHEATS COLLETE MONEY AND DO NOT PROVIDE SERVICE, LOCAL OFFICE IS FOR NAME SAKE NO SUPPORT OF ANY KIND. SO AVOID 1000%. Confirmation has sometimes taken 12 hours, and today the system was down till 12 during which time you can guess who would have encashed in the buying opportunity.
A big avoid if you want peace of mind a person having first hand experience.
Hi Friends,
I opened Trading and Demat account with kotak securities 2 years back, unfortunately my trading account password has blocked 2 months back, I requested so them so many times, I sent mails and I called them over phone, I posted a letter also for requesting the password for my trading account so far they are not responding, I felt so bad about this and I had some minimum balance also with them, I thought of sharing my bad experience with kotak securities, because you should not be loose your money , so what I am requesting not to open any account with kotak people.
even i after requesting them they were saying , we have sent the password through email, i am getting any mail from them, they were lieing it seems, when we call the customer care also they won't pick the phone and most of the time it will in engage only, so friends please don't go with, they will show the hell to you, after going with them you will come come to know that really how the hell will be.
Please forward this mail to all of your friends and colleagues.
Regards,
Vara Prasad
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