Any body know about R Trade?

[mozillan]

I hv been e-mailing constanly to R-Money. Hardly get any response nor I see any improvement in their website. Insta-trade is worst. Only advantage in insta-trade is that one can list out scrip codes in Mkt. watch, whereas in Web site one has enter the scrip code after finding out each time different scrip code for NSE/BSE. The Reliance Group, which according to my observation has some innovation each time everywhere failed miserably in R-trade. It is shame to know that they have come out with poorest trading platform. God knows as to when one can see some improvement in customer service as well as website.

Dear Bangerabs,
It seems you are attached with RMoney or are an associate of persons who are in sync with RMoney. You wish to see screenshots or actual accounts where bad(in ur terminology) people have accrued losses due to RM. I can provide all details as long as u provide me with ur actual Mobile No. I can only say that RM is the biggest cheat on this earth, as I have lost Rs. 30000 because of their portal. Please sell Reliance Capital shares ASAP, because such fraudulent acts can't go on for too long.

 

[rama_1000]

INPROCESS thing happens only if u r trading on margin. Obviously they cancle all ur given orders on 3 p.m. and sq/off ur position on 3.10 p.m. sometimes it works in ur favour sometimes not. but at least this is a good option i say. u can put ur stoploss orders as well as ur targeted exit order and even if u shut down ur system there will be no problem. either of ur position in margin will get sq.off by end of the day.

In 5paisa they dosen't have such restiction of 3p.m. / 3.10 p.m. etc. . in my 5paisa account they block the money for each order , so i can not place stoploss and limit order simultaneously when trading on margin, so have to keep watch alertly. once i short sold and then the electricity went off, my sold scrip went to Auction for the mistake not made by me. having Rmoney sq/off position by 3.10p.m. is very much relaxing.

try to sq/off ur position by urself before 3 p.m., if not then just track what was the price of the scrip @ 3.10p.m. and confirm the same on the next day in ur contract note.

It is not correct. INPROCESS happens regularly in other categories also, such as in Derivatives trading. In fact, till date, I have never done any margin trading but still have faced a large number of INPROCESS problems. Secondly, Derivative trading, though similar in nature, is different from margin trading. In margin trading, the positions are squared off after 3 pm, but in derivatives I am continuing the positions till the expiry date which is normally for a month or so.

The problem mentioned by me with regard to INPROCESS is genuine problem faced by me on several occasions which has led to losses for me running into thousands of rupees, and which is much more than the brokerage charged by RMONEY.

Regards

 

[rama_1000]

Hello Sir,
I am really shocked to hear this.You might have grievances for any company but you should at least save your imagination power for other good causes.
I request you to give the details of the source.And if you think that you have heard it from right kind of source please go ahead and do the necessary thing which one responsible citizen should do.I hope you understand my point.
And please for God's sake,do not show us your imagination power and spread these kind of cheap rumour agianst any company.
God Bless You.

Hello Disciple Sir,

INPROCESS problem is not any imagination. The problem mentioned by me with regard to INPROCESS is genuine problem faced by me on several occasions which has led to losses for me running into thousands of rupees, and which is much more than the brokerage charged by RMONEY.

In fact, it is now my turn to get shocked by your response. I thought that I should share the information which I have heard from other people. There is no smoke without a fire. The problem of INPROCESS is severe and it does exist. And, people (including myself) have lost heavily in this. After having made several complaints to RMoney, why have they not corrected the problem? They don't even bother about replying so what if you have suffered a huge loss. Not even a sorry. I never asked them to compensate me for such losses. But, I reported to them so that they could take corrective measures. But it has not been done.

The purpose of this forum is to share the good and bad experiences. If you want that I should mention only goody-goody things about Rmoney (or about others) and should not mention about bad experiences, then I am sorry - that will not be the correct way. My purpose of writing the earlier message was to educate forum members about the negative things they could or would face while trading. Second purpose was to cross-check the information that I heard from other sources. Naturally, I do not have concrete evidence about such malpractices, otherwise I would have mentioned in my post. How can I get data from their servers? It can be done only by NSE or SEBI, that's why I mentioned let them check it.

On the other hand, I must also clarify that I am also interested in success of RMoney due to the low brokerages they charge which benefits me also. But, I am not interested to pay any extra money through any indirect or dirty tricks or through any malfunctioning in their software (even though it might not be intentional). The question is if this INPROCESS problem is non-intentional then why haven't they corrected the problem or why haven't they responded with at least a sorry message if not with compensation?

So, please try to understand the genuine grievances of other members. One should learn from losses of others and should not wait for one's own losses for learning something.

So, there is no question of defaming any company. Mentioning grievances about a company can always be miscontrued as defaming the company while it may not be so.

Ultimately, I want to see RMoney thrive and succeed, but that can happen only with satisfied customers and not with disgruntled users who loose heavy amounts due to broker's software problems. (Note: I continue to trade through RMoney till date and hope to continue doing so).

Regards.

 

[bangerabs]

I am facing yet another problem. In one of our trading a/cts., ECN is not uploaded and R-Money has not given any reply to my complaint; ofcourse, as usual. Now I propose to complain to NSE/BSE. I wish all those faciling problems should now bring to the notice of statutory authorities as I believe that by now R-Money should hv over come shortcomings, if they are serious about their web broking.

 

[bangerabs]

Can any one give e-mail id of CMD or any of their directors please?

 

[msiddique]

I totally endorse the views of bangerabs & rama_1000 with regards to RMoney's service standards & the INPROCESS stuff. Even I am facing the same problem. Although I have been lucky enough not land-up on the wrong side till now & wish it never happens with anyone, but you can never say.

There are several other shortcomings to in RMoney's trading platform & they need to go a long way before it can be called a good trading platform which does justice to their low brokerage otherwise it is simply not worth it.

I really wish RMoney solves all these problems before committing disaster to a trader's money.

-Siddique

 

[basudeo]

Hello_rama,

This is very much hurting when you see the status of your market order as "qued", "in process" or "waiting for confirmation by exchange" and after sometime see your order executed at high price(Buy order).

You raised a very good question and it should be supported by the members of this fantastic group.

"WHY THE VICTIM IS ALWAYS AT RECEIVING END?????"

The remedy for a time being till RM does not improve services is to place only limit orders at RM.

Basudeo

 

[mangotrees]

HELLO!
I AM M.KRISHNAKUMAR.
I AM A RELIANCE MONEY CUSTOMER. ON WEDNES DAY,05,JUNE,2007, I (SHORT)SOLD SHARES IN MARGIN TRADING IN THE MORNING. THEN I PLACED (COVER)BUY ORDER.
ORDER BOOK SHOWS ME THAT YOUR ORDER IS IN "IN PROCESS". THERE IS NO MODIFY/CANCEL MEESAGE IN THIS LINE. SO I CAN'T CANCEL MY ORDER.THEN SHARE PRICE TOUCHED MY (COVER ORDER)BUY PRICE AND ALSO IMMEDIATLY PRICE DECREASED 1% BELLOW MY (COVER ORDER)BUY PRICE.THEN I IMMEDIATLY VIEWED IN MY ORDER BOOK,TRADE BOOK AND TO DAY'S POSITION.
BUT MY ORDER BOOK SHOWED THE SAME MEESAGE "IN PROCESS" AND BALANCE SHARE QUANDITY.IN MY TRADE BOOK, NO MESSAGE ABOUT BOUGHT (TRADED) SHARES.IN MY TODAYS POSITIONS SECTION SHOWS IN "OPEN POSITION" 12 SHARES.THEN I (MY WORST MISTAKE) THOUGHT THAT MY (COVER) BUY ORDER (INPROCESS) MAY CANCELLED BY SITE; THAT'S WHY MY ORDER BOOK,TRADE BOOK AND TODAYS POSITION DID NOT SHOWED MY BUY CONFIRMATION. BUT I SHOULD SQUARE-OFF MY OPEN POSITION IN THE MARGIN BEFORE 3 PM. THEN I AGAIN PLACED (COVER)SQUARE OFF BUY ORDER AND I BOUGHT(COVERED) IT. ORDER AND TRADE BOOK SHOWED IT.THEN AGAIN I VIEWED ORDER BOOK,TRADE BOOK AND TODAYS POSITION IN THAT DAY MARKET HOURS."IN PROCESS" MESSAGE IS STILL THERE.TRADE BOOK SHOWS ME,MARGIN TRADE,NSE,12 SHARES BHOUGHT AND 12 SHARES SOLD AND 'OPEN POSITION' IS NILL.THEN I LOGGED OUT.THEN I LOGGED IN AFTER MARKET HOURS.ORDER BOOK SHOWS "INPROCESS" MESSAGE CHANGED TO TRADED 12 SHARES.I SHOCKED.BECAUSE I SHOULD(COVER)BUY ONLY 12 SHARES.BUT BHOUGHT 24 SHARES.HOW CAN I KNOW THIS?THEN I ASKED NEXT DAY (6 JUNE,2007) IN THE RELIANCE MONEY BRANCH STAFF.HE TOLD ME THAT THERE IS SERVER PROBLEM YESTER DAY AND YOU WAIT TO TWO DAYS.
I HAVE SOME CONFUSIONS....
1)IN CASE; ONE INVESTOR DID NOT SELL SHARES THAT HE BHOUGHT IN THE 'MARGIN' (INTRA DAY)FOR ANY REASON IN THE MARKET HOURS; THEN "AUTO-SQUARE OFF" SHOULD SQUARE OFF HIS POSITION IN THE MARKET HOURS.THIS IS VERY SAFETY FOR INVESTORS IN RARE CASE;IMPORTANTLY,NEW INVESTORS. WHY THIS "AUTO-SQUARE-OFF" DID NOT SQUARED OFF MY OPEN POSITION.
2)IS MODIFY/CANCEL MEESAGE SHOULD BE THERE IN "INPROCESS" LINE OR NOT?
3)WHY MY ORDER BOOK NOT SHOWED -"TRADED"- BUT ACTUALY, ALREADY TRADED.(ORDER BOOK SHOWS THIS ONLY AFTER MARKET HOURS.
4)WHY MY TRADE BOOK NOT SHOWED - "TRADED" - BUY,SCRIP NAME,QUANDITY ETC;.
5)WHY MY 'TO DAYS POSITION" SECTION SHOWED '12' SHARES IN 'OPEN POSITION'; BUT ALREADY (SHARES SQUARED OFF(BHOUGHT) ONE HOUR BEFORE; BUT NOT SHOWED IN ORDER BOOK AND TRADE BOOK.) ORDER BOOK MESSAGE IS 'INPROCESS AND BALANCE QUANDITY SHARES IS 12.ACTUAL 'OPEN POSITION' IS NILL.

NOW THE SHARES WILL GO TO THE 'AUCTION', BECAUSE OF BAD DELIVERY.
I DON'T KNOW WHAT IS 'IN PROCESS'. THIS IS MY BIG MISTAKE.THIS IS MY BIG CARE LESS.
WHAT SHOULD I DO, ON THAT DAY IN THE MARKET HOURS? I SHOULD CALL IN CUSTOMER SERVICE AND I SHOULD ASK THIS 'IN PROCESS' AND FINALLY I SHOULD TELL 'SQUARE-OFF ORDER TO THE STAFF. IMMEDIATLY, PROBLEM WILL SOLVE. PREVIOUSLY,I ALSO DID ONLINE TRADING IN ICICI DIRECT,BSEWEBX AND INDIA BULLS IN (MARGIN) INTRA DAY TRADE. BUT I DID NOT GET THIS TYPE OF (SHOCK) EXPERIANCE, EVEN SINGLE DAY. STILL NOW, MY SHOCK IS NOT REDUCED. I AM VERY INTERESTED AND OPENED AN ONLINE TRADING ACCOUNT IN RELIANCE MONEY; BECAUSE OF VERY LOW PREPAID BROKERAGE (FLAT RS.500). I IMMEDIATLY TOOK DECISION THAT I SHOULD SHIFT FROM RELIANCE MONEY TO INDIA BULLS OR SHARE KHAN OR
UTI SECURITIES; AFTER I GET SHOCKS, BECAUSE OF -"IN PROCESS"- PROBLEM.
MY TARGET IN DAY TRADING IS DAILY 2% PROFIT. I THOUGHT THAT I SHOULD PLACE FIRST ORDER FOR 2% PROFIT; THEN I SHOULD PLACE 3 TO 5 SMALL ORDERS FOR 0.20% PROFIT TO 0.50% PROFIT;BECAUSE OF VERY LOW BROKEAGE IN RELIANCE MONEY.THAT'S WHY I OPENED THE ONLINE TRADING ACCOUNT IN RELIANCE MONEY.BUT IN MY EXPERIANCE, BROKERAGE CHARGES IS NOT IMPORTANT IN INTRA-DAY TRADING.DAILY GOOD RESEARCH,SELF CONTROL AND AVOID GREED AND FEAR OR CONTROL GREED AND FEAR IS VERY,VERY IMPORTANT. IF OUR RESEARCH IS GOOD IN INTRA-DAY TRADE,THEN CONFIDENT WILL INCREASE AND FEAR WILL REDUCE. IF OUR RESEARCH IS BAD,THEN CONFIDENT WILL DECREASE AND FEAR WILL INCREASE. TO DAY, I BELIEVE, THAT BROKERAGE CHARGES ARE REALLY ATTRACTIVE. BUT PROBLEM LESS AND USER FRIENLY ONLINE SHARE TRADING WEB SITE IS VERY VERY IMPORTANT.
I FIRST VIEWED WWW.TRADERJI.COM THREE DAYS BEFORE. I STUDIED MANY MATTERS. VERY USEFUL TO ME. THANKS TO TRADERJI.COM AND ALL MEMBERS.

 

[mangotrees]

HELLO!
I AM M.KRISHNAKUMAR.
I AM A RELIANCE MONEY CUSTOMER. ON WEDNES DAY,05,JUNE,2007, I (SHORT)SOLD SHARES IN MARGIN TRADING IN THE MORNING. THEN I PLACED (COVER)BUY ORDER.
ORDER BOOK SHOWS ME THAT YOUR ORDER IS IN "IN PROCESS". THERE IS NO MODIFY/CANCEL MEESAGE IN THIS LINE. SO I CAN'T CANCEL MY ORDER.THEN SHARE PRICE TOUCHED MY (COVER ORDER)BUY PRICE AND ALSO IMMEDIATLY PRICE DECREASED 1% BELLOW MY (COVER ORDER)BUY PRICE.THEN I IMMEDIATLY VIEWED IN MY ORDER BOOK,TRADE BOOK AND TO DAY'S POSITION.
BUT MY ORDER BOOK SHOWED THE SAME MEESAGE "IN PROCESS" AND BALANCE SHARE QUANDITY.IN MY TRADE BOOK, NO MESSAGE ABOUT BOUGHT (TRADED) SHARES.IN MY TODAYS POSITIONS SECTION SHOWS IN "OPEN POSITION" 12 SHARES.THEN I (MY WORST MISTAKE) THOUGHT THAT MY (COVER) BUY ORDER (INPROCESS) MAY CANCELLED BY SITE; THAT'S WHY MY ORDER BOOK,TRADE BOOK AND TODAYS POSITION DID NOT SHOWED MY BUY CONFIRMATION. BUT I SHOULD SQUARE-OFF MY OPEN POSITION IN THE MARGIN BEFORE 3 PM. THEN I AGAIN PLACED (COVER)SQUARE OFF BUY ORDER AND I BOUGHT(COVERED) IT. ORDER AND TRADE BOOK SHOWED IT.THEN AGAIN I VIEWED ORDER BOOK,TRADE BOOK AND TODAYS POSITION IN THAT DAY MARKET HOURS."IN PROCESS" MESSAGE IS STILL THERE.TRADE BOOK SHOWS ME,MARGIN TRADE,NSE,12 SHARES BHOUGHT AND 12 SHARES SOLD AND 'OPEN POSITION' IS NILL.THEN I LOGGED OUT.THEN I LOGGED IN AFTER MARKET HOURS.ORDER BOOK SHOWS "INPROCESS" MESSAGE CHANGED TO TRADED 12 SHARES.I SHOCKED.BECAUSE I SHOULD(COVER)BUY ONLY 12 SHARES.BUT BHOUGHT 24 SHARES.HOW CAN I KNOW THIS?THEN I ASKED NEXT DAY (6 JUNE,2007) IN THE RELIANCE MONEY BRANCH STAFF.HE TOLD ME THAT THERE IS SERVER PROBLEM YESTER DAY AND YOU WAIT TO TWO DAYS.
I HAVE SOME CONFUSIONS....
1)IN CASE; ONE INVESTOR DID NOT SELL SHARES THAT HE BHOUGHT IN THE 'MARGIN' (INTRA DAY)FOR ANY REASON IN THE MARKET HOURS; THEN "AUTO-SQUARE OFF" SHOULD SQUARE OFF HIS POSITION IN THE MARKET HOURS.THIS IS VERY SAFETY FOR INVESTORS IN RARE CASE;IMPORTANTLY,NEW INVESTORS. WHY THIS "AUTO-SQUARE-OFF" DID NOT SQUARED OFF MY OPEN POSITION.
2)IS MODIFY/CANCEL MEESAGE SHOULD BE THERE IN "INPROCESS" LINE OR NOT?
3)WHY MY ORDER BOOK NOT SHOWED -"TRADED"- BUT ACTUALY, ALREADY TRADED.(ORDER BOOK SHOWS THIS ONLY AFTER MARKET HOURS.
4)WHY MY TRADE BOOK NOT SHOWED - "TRADED" - BUY,SCRIP NAME,QUANDITY ETC;.
5)WHY MY 'TO DAYS POSITION" SECTION SHOWED '12' SHARES IN 'OPEN POSITION'; BUT ALREADY (SHARES SQUARED OFF(BHOUGHT) ONE HOUR BEFORE; BUT NOT SHOWED IN ORDER BOOK AND TRADE BOOK.) ORDER BOOK MESSAGE IS 'INPROCESS AND BALANCE QUANDITY SHARES IS 12.ACTUAL 'OPEN POSITION' IS NILL.

NOW THE SHARES WILL GO TO THE 'AUCTION', BECAUSE OF BAD DELIVERY.
I DON'T KNOW WHAT IS 'IN PROCESS'. THIS IS MY BIG MISTAKE.THIS IS MY BIG CARE LESS.
WHAT SHOULD I DO, ON THAT DAY IN THE MARKET HOURS? I SHOULD CALL IN TELE TRADE SERVICE AND I SHOULD ASK THIS 'IN PROCESS' AND FINALLY I SHOULD TELL 'SQUARE-OFF ORDER TO THE STAFF. IMMEDIATLY, PROBLEM WILL SOLVE. PREVIOUSLY,I ALSO DID ONLINE TRADING IN ICICI DIRECT,BSEWEBX AND INDIA BULLS IN (MARGIN) INTRA DAY TRADE. BUT I DID NOT GET THIS TYPE OF (SHOCK) EXPERIANCE, EVEN SINGLE DAY. STILL NOW, MY SHOCK IS NOT REDUCED. I AM VERY INTERESTED AND OPENED AN ONLINE TRADING ACCOUNT IN RELIANCE MONEY; BECAUSE OF VERY LOW PREPAID BROKERAGE (FLAT RS.500). I IMMEDIATLY TOOK DECISION THAT I SHOULD SHIFT FROM RELIANCE MONEY TO INDIA BULLS OR SHARE KHAN OR
UTI SECURITIES; AFTER I GET SHOCKS, BECAUSE OF -"IN PROCESS"- PROBLEM.
MY TARGET IN DAY TRADING IS DAILY 2% PROFIT. I THOUGHT THAT I SHOULD PLACE FIRST ORDER FOR 2% PROFIT; THEN I SHOULD PLACE 3 TO 5 SMALL ORDERS FOR 0.20% PROFIT TO 0.50% PROFIT;BECAUSE OF VERY LOW BROKEAGE IN RELIANCE MONEY.THAT'S WHY I OPENED THE ONLINE TRADING ACCOUNT IN RELIANCE MONEY.BUT IN MY EXPERIANCE, BROKERAGE CHARGES IS NOT IMPORTANT IN INTRA-DAY TRADING.DAILY GOOD RESEARCH,SELF CONTROL AND AVOID GREED AND FEAR OR CONTROL GREED AND FEAR IS VERY,VERY IMPORTANT. IF OUR RESEARCH IS GOOD IN INTRA-DAY TRADE,THEN CONFIDENT WILL INCREASE AND FEAR WILL REDUCE. IF OUR RESEARCH IS BAD,THEN CONFIDENT WILL DECREASE AND FEAR WILL INCREASE. TO DAY, I BELIEVE, THAT BROKERAGE CHARGES ARE REALLY ATTRACTIVE. BUT PROBLEM LESS AND USER FRIENDLY ONLINE SHARE TRADING WEB SITE IS VERY VERY IMPORTANT.
I FIRST VIEWED WWW.TRADERJI.COM THREE DAYS BEFORE. I STUDIED MANY MATTERS. VERY USEFUL TO ME. THANKS TO TRADERJI.COM AND ALL MEMBERS.

 

[unicorn]

Hi Gvnarendra
In Reliance Money there is a problem reguarding delay order execution.The orders are in "In Process" status.So what is your reaction to this??

Please give a reply