Best Online Trading platform: Share you experiences

Online stock market trading is gradually gaining ground in India with increased penetration of broadband services. These are more than 10 popular trading platforms are available for Investors.

But many investors are asking me this simple question "Which is the best online trading platform in India?" I am still unable to figure out the best trading platform among popular ones. I am using Reliancemoney and ICICIdirect but both are good only for investors but not for traders. According to my friends, Religare and Kotak are good ones for traders.

According to poll on my blog, more than 60% are recommending Reliancemoney and ICICIdirect with Reliancemoney is in top slot. But Reliance Money need some improvements before becoming best platform for Online Trading. They need to provide separate software for the convenience of small traders.

My request: Please share your experiences through comments which will help fellow readers in choosing good online trading platform. Please share your experiences with brokers especially in times of crisis periods like January melt down.

Please share your experiences by commenting below.

Reliance Money online trading: fee structure

Reliance Money emerged as the cheapest trading account in the world. Many readers are asking about their fee structure and other details. Even though it is not a safe option of day traders, Reliance Money is the better option for cost conscious investors. Reliance Money is surging ahead by providing value added services and by setting up transaction kiosks even in small towns. It should provide separate software for the benefit of day traders.
Reliance Money fee structure and validity limits:

Reliance Money is providing 3 types of fee structures.

1. Rs 500 account:
Time validity: 2 months.
Turnover validity: 1 crore (90 lac non-delivery and 10 lac delivery).

2. Rs 1350 account:
Time validity: 6 months.
Turnover validity: 3 crore (2.7 crore non-delivery and 30 lac delivery).

3. Rs 2500 account:
Time validity: 12 months.
Turnover validity: 6 crore (5.4 crore non-delivery and 60 lac delivery).

Demat account fee: Rs 50/- per year.

How to open account in Reliance Money?

You can open Reliance Money account in 3 ways:

1. SMS “MONEY” to 6636.
2. Call 3988 6000 for account opening.
3. You can apply online through reliancemoney.com

Contact their office in your town for demo on Saturdays.

Reliance Money SMS alerts:

Reliance Money is currently providing SMS alerts on technical breakouts and expert advice.

Cost: Rs 250 per month and Rs 2400 per year.

Please share your comments on Reliance Money online trading.

Free mobile stock alerts from Reliance Money

Reliance Money is providing free live updates on Indian stock markets through “RMoney” mobile application. This is a free stock alert service for all GSM and CDMA mobile users on all networks. You just need to pay data charges for your mobile operator according to your tariff plan. Reliance Money will not charge anything for providing this service. Reliance Money is marching ahead of its rivals with in a short span of time with unique features and aggressive plans.

Unique features of “RMoney” stock alert service:

1. RMoney is providing news updates on stocks, derivatives, commodities, mutual funds and IPOs.

2. Research information on stocks of the day, market preview and resistance points.

3. Announcements, board meetings and results of the Indian companies.

4. Support and resistance points of major stocks.

5. In-depth information on market gainers and losers, volume toppers and index moments.

6. Market summary and vital statistics.

How to get Reliance Money application?

For GSM Users:

1. SMS “RMoney” to 56636 to get receive the download link - www.webaroo.com/rmoney

2. Download Reliance money application from your internet activated mobile.

For Reliance Mobile users:

1. Go to “RWorld”.

2. Select finance section and click on “RMoney” to download application.

How to use “RMoney”?

1. Favorites screen will appear by default when you start “RMoney” application.

2. Add your favorite content by clicking on “add”.

3. Click “options” and select “update all” to get latest updates on your cell phone.

Note: This application will work only on mid-end and high-end mobiles only.

Reliance Money launches financial mobile portal

Reliance Money, online trading platform of Reliance Capital, will soon launch a mobile financial portal in alliance with Webaroo Inc. to give complete financial information for 200 million mobile users without any fee. This facility will be available for free for both GSM and CDMA users. This is the first financial service to provide free information for all mobile users. Customers of Reliance Money can access portfolio, trade book and order book through this mobile financial portal. Mobile users now get free mobile alerts on key financial matters through this service. This will help Reliance Money to reach more users and may soon become No.1 online trading portal. Reliance Money wants to expand the current 3,237 outlets to more than 10,000 by the end of 2007-08.

Reliance Money earlier acquired “TravelMate”, to enter the money changing business. Reliance Money wants to become the largest vendor of gold coins in the country. It seems to have very big plans on the untapped retail category. It will be difficult for small companies to face this onslaught from Reliance Money in trading business. It is already very popular among customers due to its low brokerage charges. Reliance Money was selected as the safest and cost efficient trading platform in the recent survey.

Note: My sincere apologies to all the regular readers for not updating this blog. I will start regular postings from Monday onwards. I am happy as my favourite stocks like IFCI, TFCI, Ispat Industries, Praj Industries and R-com gave me very good returns. I missed Mercator Lines due to delay in taking quick decision. I have partially sold my shares in IFCI, TFCI and Reliance Communications. I will hold Ispat, Fortis and Dish TV shares for another 2 years. Short term outlook for markets is negative but long term view is very good. Book profits in BHEL and Reliance etc.

I will update with more detais on the Reliance Money Financial portal in the coming days.

Volatile Stock Markets due to extreme uncertainty

I am closely monitoring Indian stock market volatile movements but not giving any guidance due to extreme uncertainty. I have not seen this range of uncertainty for the last 3-4 years. That’s why I am not posting in the last 4-5 sessions. I will watch for another 3-4 sessions from side lines to get clear picture on Indian share markets.

Global Economic crisis (Sub prime credit crisis):

Don’t be tempted by short Bull Run in US stock markets. This subprime crisis is the most severe one in the last 16 years. We are just watching the tip of ice berg. We will see real effects in the coming weeks/months. No one is giving clear guidance on the magnitude of this subprime crisis. Rate cut by fed reserve may not be sufficient to cool down this crisis. Dow will touch 11,500-12,000 in the coming months.

Local Political crisis:

Communist parties are doing their best to dampen the spirits of bulls. Before this political uncertainty, India is the last option for withdrawal of money by FIIs due to the strong fundamentals. But India is now the first choice for FIIs to withdraw money in case of crisis due to political uncertainty. Uncertainty is always more dangerous than real thing. Communists may not withdraw support to UPA Government but they will cause enough damage to the investors by their comments.

Indian Stock Market guide:

1. Sit on cash and invest money whenever BSE Sensex falls below 14,000.

2. Invest money in high growth stocks like Punj Lloyd, Crompton Greeves, Bharti Airtel, BHEL, L&T, PFC, SBI, Welspun Gujarat, Praj Industries etc. They will lead the next rally.

3. Foreign investors will invest in these stocks after the termination of credit concerns.

4. Don’t expect exceptionable returns in 2007. Invest up to 2009-10 in growth stocks for exceptional returns.

5. Banking and Finance, Capital Goods, Shipping, Power and Infrastructure stocks will lead future rallies. Telecom story will continue for some more time.

6. Speculators will rarely beat long term investors in the returns/earnings in Stock markets.

7. Pharma is the dark horse.

Starcom-Mediavest survey on Online Trading platforms in India:

1. Reliance Money is the most secured and cost effective platform while Motilal Oswal is the best research driven platform. ICICI Direct is the least cost effective platform.

2. 5 Paisa is the second best cost effective trading platform while ICICI Direct is the second best secured platform.

Please share your experience on online trading platforms in India.

Indian stock markets on Monday

Indian share markets may continue their volatile run with positive triggers from global markets and metal prices and negative triggers from profit booking and expiry of contracts.

Advice for traders: Stock specific action will be seen.

Market movement: Volatile/Bullish. Global markets and Asian markets are showing positive trends. Expiry of derivative contracts will be a major negative trigger. Be careful.

Significant News:

1. Decline in net profit of Indian companies compared to previous quarters.
Net profit in Q2 - 43%, Q3 – 76% and Q4 – 38.8%.
2. Metal prices and crude oil price rose again.
3. IOC and OIL set to pick up 50% stake in Nigerian block.
4. RBI diluted norms for outsourcing firms in India to draw foreign exchange.
5. SBI is on mega expansion plans.
6. Reliance Communication and Bharti Airtel are on overseas expansion plans while Idea cellular may acquire Spice telecom.

Stock Picks for Day Traders:

1. Mahindra and Mahindra:
CMP: 731.8
Target: 740 and 748
Stop Loss: 714
Results, increase in sales and news of inclusion in BSE-100.

2. Idea Cellular:
CMP: 125.8
Target: 128.3
Stop Loss:120
Idea and Spice Telecom may merger to emerge as the fifth largest telecom company.

3. Cipla:
CMP: 205
Target: 207.2 and 210.
Stop Loss: 201
Cipla got approval to sell Retrovir of Glaxo.

4. SAIL:
CMP: 148.1
Target: 150.6 and 152.5
Stop Loss: 143.7
SAIL will acquire Nilachal Ispat Nigam in Orissa for over 1,000crore.

5. TCS: (Risk of rupee appreciation).
CMP: 1229
Target: 1238 and 1247.
Stop Loss: 1210
TCS bought Brazil partner’s stake.

6. HDFC: Safe bet.
CMP: 1816.6
Target: 1870
Stop loss: 1735
HDFC has broken technical resistance.

7. BHEL: Safe bet.
CMP: 2702.8
Target: 2724 and 2752
Stop Loss: 2668
Good results.

8. NTPC: Safe bet.
CMP: 163.7
Target: 165 and 167
Stop Loss: 160
Rumours on foreign joint venture.

9. Sterlite: (High risk)
CMP: 546.9
Target: 560
Stop Loss: 515
Rise in metal prices.

10. Dishman Pharma:
CMP: 241.5
Target: 246
Stop loss: 236
It will announce results may be good ones.

11. Fortis Healthcare, Ranbaxy and Jindal stainless.

12. Tata Tea and GMR infra are other good stocks.

Stocks to watch out for:

IVRCL Infra, Rolta, Bharti Airtel, NIIT Tech, HCL Tech, Tata Tea, GMR Infra, Moser Baer, IPCA labs, Ranbaxy and Voltas.

Stay away from following stocks:

1. Reliance energy will continue to face obstacles from Mayawati government.
2. Welspun group not to renew Tommy Hilfiger deal.
3. Book profits in Suzlon.

Stocks of the week (Economic Times):

Cairn India, GMR Infra and Thermax.

Stock pick by Economic Times: SAIL for Long term investors.

ICICIdirect.com pick of the week:

Finolex Industries.

Reliance Money stock of the week:

Punj Lloyd.

SEBI decisions:

1. Futures and Options trading in Nifty Junior stocks from June 1st.
2. New rules for short selling in equity markets for domestic and foreign investors from the 1st week of July.
3. M&M will replace Hero Honda in the Sensex. Other inclusions in the BSE-100 are Aban Offshore, Biocon, Cairn India, Dish TV, Tech Mahindra and Indiabulls Real Estate.
4. Karnataka Bank and Yes Bank are included in the BSE Banking Index.
5. Moserbaer and Rolta are new entrants into BSE IT Index.

Closely watch rupee Vs dollar, profit booking and impact of expiry of derivative contracts.
Please share your views on Indian stock markets.

Review- Reliance Money Online trading

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.

Moneycontrol.com is the best site for Indian Investors

PC World magazine selected MoneyControl.com as the best site for Indian stock market investors. According to PC world, Moneycontrol.com emerged as outright winner with clean and easy interface with up to date content. ICICI Direct.com emerged as winner in utilising technology to satisfy customer needs.

Why Moneycontrol is the best site?

1. It is the best all in one site for Indian investors. This site has comprehensive information on Indian stocks, Mutual Funds, Commodities and IPOs.

2. Best portfolio manager among Indian websites. It sends daily email about your portfolio gains/losses.

3. Free experts opinions. But recommendations from these experts are not up to the mark.

4. Best message forums with active participation of experienced users.

5. This site has comprehensive tools for investors with complete information about Day’s highs/lows and volumes etc.

6. Its sister sites i.e. Indiaearnings.com, Commoditiescontrol.com and EasyMF.com are best sites in their respective categories.

Why Money Control Sucks?

1. Site is very slow especially during trading times. Its loading time is worst among major Indian sites.

2. Too many ads with too much optimisation. It is difficult for ordinary user to differentiate between content and ads.

3. Site design is outdated which needs complete makeover like Indiatimes.com.

ICICIdirect.com scores over Moneycontrol.com in design, speed and recommendations.

Please share your opinion.

How to select best online trading broker?

1. Read the documents carefully before sign them. Check for any hidden clauses.
2. Assess the reliability, speed and robustness of your broker’s system.

3. Check the response time on the trading screen. The lag between the prices on the market watch screen and on the exchange should be less than 20 seconds.

4. Conformation of the execution of your order should reach you in less than 30 seconds. Most of the online trading platforms are providing best service to the special customers neglecting ordinary customers. Ex. ICICI Direct active trader account.

5. Trading website should be up, active and fast especially during trading hours.

6. These days most of the financial websites have high standard security features.

7. Enquire about the brokerage charges, annual payments and hidden penalties. Currently Reliance Money is offering lowest brokerage charges.

8. You should able to check your orders and payments during trading and non trading hours. ICICI Direct does not allow the customers to check them during trading hours.

9. Check with your broker whether there are providing phone trading and offline trading.

10. Verify about the reliability of broker recommendations. Never trade just based on the broker recommendations.

Courtesy: Business Today

Reliance Money – New online trading platform from reliance Capital

Reliance capital entered into online trading business through “Reliance Money”. Reliance Money is offering highly competitive brokerage fees with the option for “fixed flat fee structure”.

Reliance Money, promoted by Anil Dhirubhai Ambani Group firm Reliance Capital, would offer the brokerage services across 700 cities including Delhi and Mumbai through 3,000 outlets.

Reliance Money consumers can trade in equities, commodities and offshore investments, IPOs, mutual funds, insurance and money transfer.

Brokerage fee structure:

Delivery trades – 0.05%
Non- delivery trades – 0.005%

Fixed brokerage fee:

Rs. 500 for delivery trades up to 10 lakh
Rs. 500 for non-delivery trades up to 1 crore.

Pre-paid coupon brokerage charges:

Rs. 500 coupon is valid for 2 months.
Rs. 1300 coupon is valid for 6 months.
Rs. 2500 coupon is valid for 1 year

Reliance money website:

It is one of the best designed financial web sites in India. It will catch visitors’ attention with its neat interface, quality content, fast loading and research information. Content is divided into 3 sections – Beginners, Intermediate ones and Experts.

Highlight: Morning News letter from reliance Money is a must read for every investor.

Reliance money will definitely give tough competition to other brokerage houses like ICICI Direct and Sharekhan, India Bulls etc. If you want to enter in to online trading, opt for Reliance Money.

Please comment on this article.

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