Any body know about R Trade?

[bhaskar]

Hey there, have you heard about FreedomRocks.com yet? if not you may message me if need to know about it

 

[msiddique]

FreedomRocks.com - what is it all about ?

 

[suman]

Hey Moderators

Kick this guy out!

Take away his freedom!

 

[bhaskar]

you can add me at yahoo msngr the id is bhaskarboy

 

[uasish]

Do we still deal with boys,nah only Man yarr.

 

[suman]

An Id like bhaskarstud29 would be better?

 

[THETRADER]

On going thro' this thread, I realise that there are lots of problems with Reliancemoney. Firstly, when they are targetting such huge no. of clients, there selection of technology - Java platform - seems to be a big mistake. They should have gone in for a technology which has quite a bit of the data in the client's PC, which would mean installation at the client's PC, (and not to mention its related problems), but it's worth it, as it is onetime only. It appears homework has not been done. It does not cost much to change, well, nothing for the Ambanis - to the right technology.Will they atleast wake up now, and, change their software to suit their client needs?

 

[rajaram.dilipkumar]

I have also seen similar problems on several occasions. Usually after 3.00 pm (and sometimes before that too) many of the orders placed are shown as "INPROCESS" in the Order Book. This means that the order is in que for being sent to NSE. You cannot even modify or cancel these orders. Sometimes, this "INPROCESS" status remains for 20-30 minutes or even more. Meanwhile, the market may change drastically more than once. So, you loose money and precious opportunities. Once I was calculating and found that the low brokerage advantage on RMoney is taken away by losses due to such "INPROCESS" orders.

I have heard that RMoney people deliberately use this "INPROCESS" trick. While the person who placed the order gets the "INPROCESS" or in que message (i.e., for him, the order is yet to be sent to NSE), but the order is sent to NSE in some other client name or pseudonomously. If the order results in profit, somebody else pockets the profit while the real client keeps getting the "INPROCESS" message till the end. On the other hand, if such order does not result in profit or if the market reverses after some time, this "INPROCESS" order is shown executed for the original client after a delay of 10-15 minutes but generally with the original time-stamp.

People say that Rmoney (or some employees in the Rmoney) is making money in this manner, compensating for low brokerage. So, "RMoney" is "Our Money". One wonders whether the SEBI or NSE will dare look into such malpractices, if at all they exist.

Dear Rama,

Iam ex-employee of icici bank and currently im a broker , also in to writing equity , forex and IPO related articles for dialies including times of india . Having been in this industry for long i know such things can happen and this time around it should come to the notice of people who matter . We can take up this issue with SEBI provided we have some proof . To start with we have to write a letter to the DP(in this case RM) and if DP doesnt reply then we can take it forward to both consumer forum and SEBI . We have to make these people accountable and make them compensate for the losses they have inflicted upon us . There is no use in debating and writing one column after the other crying about their foul play infact we have proved our debating and writing skills now its time for action .They cannot be allowed to go scot free . I will explore all options to get this posted in financial dialies .
Infact on a personal front i have icici , RM and religare accounts(iam sub-broker for religare now) but i dont use icici due to high cost and RM due to compaints i have been receiving from everyone around me . .

 

[rama_1000]

Dear Rama,

Iam ex-employee of icici bank and currently im a broker , also in to writing equity , forex and IPO related articles for dialies including times of india . Having been in this industry for long i know such things can happen and this time around it should come to the notice of people who matter . We can take up this issue with SEBI provided we have some proof . To start with we have to write a letter to the DP(in this case RM) and if DP doesnt reply then we can take it forward to both consumer forum and SEBI . We have to make these people accountable and make them compensate for the losses they have inflicted upon us . There is no use in debating and writing one column after the other crying about their foul play infact we have proved our debating and writing skills now its time for action .They cannot be allowed to go scot free . I will explore all options to get this posted in financial dialies .
Infact on a personal front i have icici , RM and religare accounts(iam sub-broker for religare now) but i dont use icici due to high cost and RM due to compaints i have been receiving from everyone around me . .

Thanks Rajaram, for your suggestions. I continue to have the a/c with RMoney, but I have more or less stopped trading through them for last about 3 weeks as the problems are yet to be sorted out. I keep checking their trading platform, meanwhile. As soon as I find their trading platform to be as good as that of other rival online brokers, I may start trading through them against due to that low brokerage. Till that time, i have bid good bye to them.

As regards the complaint, I informed them at least 2-3 times about the problem but got just a routine reply. No question of compensation. Not even sorry. I decided to treat my loss as a trading loss instead of loosing sleep over it. Instead of wasting time and energy in fighting with people like RMoney which may not be successful (I don't think SEBI or NSE can ultimately go against them; if at all they go, there are many other appellate forums where they can get what they want by using, if not abusing, their financial muscle), I thought it is better to concentrate on further trades and be cautious in future. It gave me peace of mind. Somebody having extra time to take fight with them can very well consider your suggestions. But for a person like me earning a little money but with peace of mind is more important. Writing a post in this platform was just as a cautionary note for other members, as a return gesture for what I have gained through this platform.

Kind regards,

 

[indiranla]

hi every one
u r lucky i read this...as i m a part of one of the brokerage firm who has the deal with Reliance on R-Trade..........i m just in the preparations.
ya u r right its being introduced in July

THE DATE IS 27TH jULY

Reliance is introducing it with costs that ARE LOWEST IN HISTORY till date.
NO ONE HAS DARED TO CHARGE THIS small
its very cheap especially for Big investors. They can save a lot of bucks.
what exactly do u wanna know abt R-Trade?
I can give the product information if u give me ur mail id
Feel free to ask any thing

Dear hetal1284
I want to know/use R trade. Pl mail me at [email protected]
regards
indiranla