Any body know about R Trade?

[gvnarendra]

Hi,
Today I asked reliance money franchisee here in bangalore and they said that there is a service charge of 12/- for each executed order/transaction request irrespective of whether you place through internet/call center.
Can any one confirm this???

Till now I have been charged for the orders that have been executed over the phone. I have not been charged for the orders placed by myself through the software.

 

[bahubali1981]

Yes u r right,they are going to charge for all the trades(irrespective of whether it was placed over phone or internet.

 

[trader31339]

Till now I have been charged for the orders that have been executed over the phone. I have not been charged for the orders placed by myself through the software.

GV ,
Howzz their call n trade facility? and the professional level of persons taking orders? Did u called the franchisee or the call centre,

 

[CreditViolet]

Yes u r right,they are going to charge for all the trades(irrespective of whether it was placed over phone or internet.

Makes sense, cant expect them to do business for free.

In the brokerage business, the only thing given free is TIPS, the rest one has to pay dearly.

Once RTrade launches officially its gonna be a great view of the brokerage rates.Brokers who have been 'eating bhaav' for 0.03/0.02 rates will have their undies handed to them.

CV

 

[gvnarendra]

GV ,
Howzz their call n trade facility? and the professional level of persons taking orders? Did u called the franchisee or the call centre,

Hi trader31339,
Their call facility over the phone is very quick as of now and the people looks like professionals. I had called the call centre.
gvnarendra

 

[bahubali1981]

I think I was wronlgy informed by their marketing guy,today one more person from reliancemoney had called,and he told me that they are charging 1 paisa for orders placedd thru Internet ,but if place it thru callcenter then they charge 12Rs.
Any one who has subscribed to reliance PLEASE CONFIRM .

 

[gvnarendra]

I think I was wronlgy informed by their marketing guy,today one more person from reliancemoney had called,and he told me that they are charging 1 paisa for orders placedd thru Internet ,but if place it thru callcenter then they charge 12Rs.
Any one who has subscribed to reliance PLEASE CONFIRM .

Hi bahubali1981,
For every trade you do they charge 1 paisa brokerage which carries no taxes since if you calculate the taxes in percentage it becomes zero. As I have told earlier there will not be charges for the orders placed through the net from your trading window , where as if you place an order through the call centre you will be charged Rs 12/ for every trade that have been executed. If you modify the prices before part or full execusion of your orders there will be no charges. Suppose if you place an order and it executes partly and if you modify the orders for the remaining part then you will be charged anthoer Rs 12/. If you do not change the pending partly executed order and it gets executed in the later part of the day there will be no extra charge.
Hope you understood the points. There is another evidence to make the trades more transparent is that I have noticed since yesterday, they are mailing to my email id with reliance, giving the list of trades that we have done in a particular day and that days ledger balance and the charges that they have charged for those trades in pdf format. I was not receiving this kind of information in one file from Indiabulls or Anagram or sharekhan.
More when I review the Instatrade platform next week. I am not praising or telling their platform is the best, but how a broker can be more transparent by giving more details of transaction in one go. I think it is time, for the transparency of brokerage houses has to be overhauled in Indian trading system.
gvnarendra

 

[CreditViolet]

Hi bahubali1981,
For every trade you do they charge 1 paisa brokerage which carries no taxes since if you calculate the taxes in percentage it becomes zero.

Can you show that as an eg?

For eg . in nifty futures by fridays close, brkg slab of 0.01 wud cost 40 rs as brokerage and Service Tax on it would come to around 10 Rs? How is that zero?

Including other taxes, cost would come to around 175-180 Rs

So could you clarify your statement

Rgds
CV

 

[gvnarendra]

Can you show that as an eg?

For eg . in nifty futures by fridays close, brkg slab of 0.01 wud cost 40 rs as brokerage and Service Tax on it would come to around 10 Rs? How is that zero?

Including other taxes, cost would come to around 175-180 Rs

So could you clarify your statement

Rgds
CV

The brokerage is charged 1 paisa per trade irrespective of whatever the total turnover. That is if you trade Rs 1000/= or Rs 5000000/= in one trade of eqities or futures the brokerage will be only one paisa only. You can see that in image of contract note that I have put in thread no 235 of this thread.
gvnarendra

 

[CreditViolet]

The brokerage is charged 1 paisa per trade irrespective of whatever the total turnover. That is if you trade Rs 1000/= or Rs 5000000/= in one trade of eqities or futures the brokerage will be only one paisa only. You can see that in image of contract note that I have put in thread no 235 of this thread.
gvnarendra

Yes I know that and hence I asked how the taxes come to zero as you mentioned.Mind clarifying that?


CV