Any body know about R Trade?

[gvnarendra]

Dear gv narendra....
Can you plesae provide the total cost of transacting through reliancemoney on internet.I understand the card cost and stt,but how much will be the other charges put together (ie...turnover charges,sebi charges,stamp duty and whatever other charges are there).I am trying to see how much can reliance bring down the breakeven price of a position we may have compared to other brokers...Your reply will be highly appreciated...
thanking you...
reghu

Hi reghu,
I have traded mostly in futures and options in Reliance Money. Based on my experience you can save more than 3/4 the brokerage charges over the cheapest ones . For example: in Indiabulls I had paid about Rs 415/= for a lot of futures traded when the NIfty was in the visinity of 4000. Where as I had paid about Rs 90/ for the same kind of trade in Reliance Money. So you can imagine the saving you can do. As I have observed the breakeven in Reliance money is 1 point of movement in nifty futures. That is if you buy a lot of nifty futures at any point and if it moves 2 points you will have to pay 1point or RS 100/ towards the cost of trading and the other 1 point is your profit that is Rs 100/. Where as in case of Indiabulls the nifty have to move 5 points to earn that Rs 100/ . I hope you can understand my point of view. If you have any questions regarding the calculations you can ask.
gvnarendra

 

[reghu]

Hi reghu,
I have traded mostly in futures and options in Reliance Money. Based on my experience you can save more than 3/4 the brokerage charges over the cheapest ones . For example: in Indiabulls I had paid about Rs 415/= for a lot of futures traded when the NIfty was in the visinity of 4000. Where as I had paid about Rs 90/ for the same kind of trade in Reliance Money. So you can imagine the saving you can do. As I have observed the breakeven in Reliance money is 1 point of movement in nifty futures. That is if you buy a lot of nifty futures at any point and if it moves 2 points you will have to pay 1point or RS 100/ towards the cost of trading and the other 1 point is your profit that is Rs 100/. Where as in case of Indiabulls the nifty have to move 5 points to earn that Rs 100/ . I hope you can understand my point of view. If you have any questions regarding the calculations you can ask.
gvnarendra

Hi gv narendra...
Thanks for the reply. I understand your view that reliance brings down the brakeeven level much more than others...
regards...
reghu.

 

[trader31339]

GV,
nifty is 4000
1lot is of 100
Now if I place trade online through internet with relaince I have to pay only 1 paisa brokerage thats all ? Or any other charges like software charges etc etc.
1 lot of nifty @ 4000, ie
trade of 400000 only 1 paisa brokerage ?? + STT transaction charges etc

 

[rangarajan]

Dear Pradeep & Unicorn,
Thanks for prviding the contact number.
ranga

 

[gvnarendra]

GV,
nifty is 4000
1lot is of 100
Now if I place trade online through internet with relaince I have to pay only 1 paisa brokerage thats all ? Or any other charges like software charges etc etc.
1 lot of nifty @ 4000, ie
trade of 400000 only 1 paisa brokerage ?? + STT transaction charges etc

Hi trader31339,
The calculation for 1 lot of nifty future is roughly like this.
The brokerage is 1 paisa. stt will not be charged for buy side, but only for sell side. That will be around Rs 70/ per lot. Turn over charges will be around Rs 10/ and the stamp duty will be around Rs 1/ . You have to purchase a card worth Rs 500/ to trade 1 crore worth of transaction. With this roughly you can trade 25 lots of nifty future, which translates to Rs 20/ per lot. Totally for one lot of future the charges for both buy and sell side it will be around Rs 95/ to 100/ . Hope this clears your doubt. For a clear picture you can see the copy of a contract note in thread no 235 of this thread.
gvnarendra

 

[raj69]

After all this information , a look at the darker side . How to compensate for the losses in trading ? Suppose , any one opens an a/c with amount Rs.700/- + Rs.500/- & starts trading & unfortunately loses heavily in a trade ( naturally as trading limits are high & losses in F&O MAY BE VERY HIGH) , so do they have any automated stop losses ? Do you have to pay ADVANCE margin for trading in F&O ? As someone said , you can trade 25 lots in Rs.500/- ? So , do you have to pay margin for 25 lots (if you want to trade 25 lots) one go ?

 

[ferret]

Hi all
I have just opened a demat account with Reliance Money (even before the official announcement). Mainly because the brokerage charges with my present DP ICICI are just too high. but after reading some of the comments here, I'm beginning to wonder if it was the right decision! Is there any possibility of the SEBI nixing the RM plans? Also, I would like to know how the security key functions. Is there a radio tag or something? Are all RM customers being tagged?

 

[tintin8801]

what are the charges fr opening the acount? what deals did they give u? can u please explain all in details.

thanks

 

[rangarajan]

The reply to raj69 is still awaited from the members presently operating.Could u expedite pl.
ranga

 

[unicorn]

Hi Gvnarendra
Please share your experience reguarding Reliance Money's INSTATRADE.