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Reliance Securities Limited

Reliance Securities, A Reliance Capital Limited Company, is the financial services division of Reliance Anil Dhirubhai Ambani (ADA) Group. Reliance ADA group is among top 3 business houses in India with wide range of presence across various sectors. ... Know more about Reliance Securities Limited

Reliance Securities Stock Broker Review Ratings

48 votes  Rate Reliance Securities

Overall Rating Fees Brokerage Usability Customer Service
Rated 3.4 stars Rated 3.5 stars Rated 3.4 stars Rated 3.3 stars Rated 3.4 stars
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648. Sandy  Nov 3, 2010 10:02:15 PM IST Reply
Their options brokerage is very costly now - 100INR/lot + taxes (roughly comes around 116-117) one way.

Worse still, recently they are migrating customers to their new instaplus platform without even asking customers' opinion about it. In quick net search I found a posting dated 01 Sep 2010 where customer mentioned about this migration (so it is going on since 01 Sep 2010 atleast). How long does it take to migrate the customers to new platform? For a good technical team it is one weekend job and in more than two months they haven't migrated all to new platform.

Their customer care says that eventually all will be migrated to instaplus and other trading platform (easytrade was really easy and best in all the trading platforms they had - I have been their customer for nearly 2 years now).

What is my problem? This instaplus is full of technical bugs and requesting customer care doesn't seem to be of any help.

In instaplus you can't place After Market Orders or even modify day orders to use per share price that is multiple of 1 paisa (there are many scrips that have 1 paisa increment).

Using the Easytrade (Directtrade) link inside instaplus is of no use. I have been forced to use instaplus for nearly two weeks now and 80-90% of times filling form and pressing buy/sell button results in "Order is Expired.!" message. Wonder, how an order can expire at the very moment it is being placed.

There are far many issues that these. Intraday is nearly impossible with instaplus. Easytrade was 5-10 times faster and usable for trading.

Moreover layout, screen usage and information categorization in instaplus is terrible and very non-ergonomical. Not only that I am not able to trade even 30-40% of what I could do with easytrade, using instaplus has started giving wrist pain.

I have been wondering if SEBI can be complained about a broker not providing a usable service to trade?

I won't advice anyone to go for RelianceMoney these days - costly brokerage and slow, buggy, inconvenient trading platform.

I have been their customer for nearly two years, and I am beginning to think to look for better options - ventura appears to be better from their advertisement, but better to do research about hidden costs and features and long term impacts.
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647. Another customer frustrated with instaplus  Nov 1, 2010 6:20:05 PM IST Reply
Somebody mentioned "now they forced clients to use their instapluss without taking permission they converted trading flatform." on Sep 01, 2010 . I was also forcefully migrated to instaplus on 22 Oct, 2010. Their customer care told that gradually everyone will be migrated to instaplus and all other platforms (easytrade etc.) will eventually be closed.

How long does it take to migrate all the customers? Assuming that the first migration happened on Sep 01, 2010 - today is Nov 01, 2010.

Looks like they are using some customers as guinea pigs to test their new system. This instaplus is full of bugs and issues. They claim it is useful for frequent traders wanting to take advantage of minute by minute changes in market and it is 10 times slower than easytrade and full of bugs - more than half the times orders are not placed successfully.

Since they migrated me to instaplus, I haven't been able to do intraday trading with it, even short term trading is not decent with it. Only thing you can do with it is long term trading - as good as placing after market orders and not trading during the day just depending on luck, because there is no guarantee that your order will get successfully placed and/or modified (in time) when you see the price movement.

Can anything be done if SEBI is contacted regarding this?
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646. Sunny  Oct 21, 2010 12:01:46 AM IST Reply
Reliance is a fraud company. Do not go for a trading account with reliance, if you dont want to buy pain and tension.

Like they cheated with most of the Indians through mobile schemes, similarly they are cheating through trading account as well.

Thanks
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645. R.C. SEkar  Oct 15, 2010 9:59:52 PM IST Reply
Good brokarage scheme available in Religare. But trading platform is not good.2.30 PM to 3.30 PM we can not trade. session expired very often will come.If we are facing any problem, no body will help in Religare.Very often they will tell wait for 24 hours to 48 hours even for email change or forget password. If we wait for 24 hrs to 48 hrs why should we trade.We can simply sit or sleep in the house.There is no boss, all staffs are boss.if there is a boss, we can tell our problem to him, he will solve.Only one Toll Free Number ie 1860 25 88888 it will not work or it will be always busy ie our customer service executives are busy now words only continuously come nodody answer it.so we can not trade,simply we have to lift the phone or we have to hear the announcement only.No direct telephone line for contact the customer problem. Please inform the above problem to Religare. If they solve the above problem it will be good for both customer and Religare.
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644. ajay kumar   Oct 13, 2010 7:10:17 PM IST Reply
what the best company provide demat account
in low brokrege charge and low intraday charge
& give the best service industry how give the best sarviec which campany
plz write in hindi & send report on my email id


thanks
ajay kumar
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643. raja  Oct 5, 2010 7:35:24 PM IST Reply
don't do intraday trading with reliance money site, there is no option of putting stop loss in your order , and one can understand what might be the consequences of an order without SL, after burning my fingers using this account I am giving all of u an advice which u 'll learn after losing thousands of rupees.
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642. ANSAR  Sep 25, 2010 9:26:24 PM IST Reply
I AM RESIDING AT TRIVANDRUM, KERALA.PLS SEND ME THE CONTACT ADDRESSES AND CONTACT TALEPHONE NUMBERS OF RELIANCE MONEY BRANCH AT TRIVANDRUM.
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641. Mills sony  Sep 23, 2010 4:11:57 PM IST Reply
I have Reliance Money demat account & I am now tradind in future stock , So I dont know how much brockerage charges leived by
reliance money. Inform me................
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640. shikhar varshney  Sep 21, 2010 10:25:37 AM IST Reply
Never do trading with reliancemoney
it's not present in all cities,
i lives in aligarh, and i gave my all physical format shares to a share broker( ratnesh varshney) to convert into DEMAT, but reliance money is not taking responsibility for the same.
Reliance group is fraud
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639. amit singh  Sep 16, 2010 3:41:31 AM IST Reply
i have trading account with sharekhan how is urs trading account is good plz mail me comparebale chart with details of software u provide to me as Trade tiger.
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638. Abhinav Singh  Sep 9, 2010 12:21:01 AM IST Reply
please tell me. who,s company provided lowest brokage charge. please suggest me.and how can i open in my demat account.

THANKYOU

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637. Venkateswara Rao MSV  Sep 5, 2010 8:17:19 PM IST Reply
Sir
Please inform me about whole charges for demat a/c opening & Brokerage charges etc.

Brokerage on Delivery Trades

Brokerage on Intraday Trades

Brokerage on Futures Trades & all hidden charges also

Brokerage on option trade (premium)


Thanks
Regards
Venkateswara Rao
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636. Ravinder pant  Sep 3, 2010 4:41:44 PM IST Reply
Sir
Please inform me about whole charges for demat a/c opening & Brokerage charges etc.

Brokerage on Delivery Trades

Brokerage on Intraday Trades

Brokerage on Futures Trades & all hidden charges also

Brokerage on option trade (premium)


Thanks
Regards
Ravinder pant
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635. prakash   Sep 2, 2010 3:05:48 PM IST Reply
i have opened a dmat account of rs 6000 which had 5000 worth of trading money.i was promised that if i wish i will get this money back.But now that person is refusing to talk to me .i have ended up loosing 5000.PL guid eme how can i get my money back.
If some one from Reliance money is reading it pl get in touch with me and help me out.
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634. anil dhiru bai so raha hai  Sep 1, 2010 1:56:26 PM IST Reply
Dear Friends
dont go by advertise, sweets talks,confusing calculations n brokerage ideas.

let me tell you real story, i am using reliance money from 2006. they simply cheat you .
they told me 1 paisa brokerage and no other hidden charges.
reality is 1 paisa brokerage+5000 to 10000 yearly charge,200 demat maint charge, 15 rs for buying 15 rs for selling + 13 rs per lot per script for demat stock release + service charges on all the charges+stt.

they told me 500 per year but now its 5000 to 10000 per year.

they charge you where ever they can, in what ever name possible.

their website is out of date , very lazy staff most of the time replied by trainee staff who know 5% of what we know about market and reliance money.

now they forced clients to use their instapluss without taking permission they converted trading flatform.

in this instaplus you cant apply for ipo,mutual fund, ncd.

their portfolio link is not working for the last 2 years.

if you keep some Dr balance in your a/c you will be charged at 21% which is great, even pvt banks give loan at 13-14%.

after all you need high speed internet for trading otherwise no use.


i hope if you are planning to open new a/c take care of these problems.

if some one from reliance money reads it and correct their problems i will be very happy.


there are some good points but these points push good points way behind.

good bank transfer facility.
good security system
you need not release stocks for trading
you get your statement by email everyday.


Thanks regards


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633. Nandan Singh  Aug 24, 2010 9:43:36 AM IST Reply
I want know about transfer of fund specialy third party trasfer/fund transfer to anather persons account Through Demat Account.
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632. sujith  Aug 17, 2010 10:46:52 PM IST Reply
I am interested to open DMAT account in reliance money , please guide me what is the procedure for this and how much we have deposit initially. please send me all required details to my mail ID.
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631. RAJA  Aug 8, 2010 10:06:37 AM IST Reply
never do intra day trading with rel money account, there is no execution of cover order on Stop loss trigger price in this site( as happens in ICICI direct), Intraday trading can become headache in this type of account. Don't open this account for intraday trading, and if u do intraday trade in this account, Iam sure u'll suffer huge losses. Mark my words.
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630. sanjay  Aug 7, 2010 7:39:11 PM IST Reply
How will open account? What is document needs? What is brokage charges? And what is other information also give us? Thanks
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629. sanjyay  Aug 5, 2010 10:30:32 PM IST Reply
please tell me. who,s company provided lowest brokage charge. please suggest me.and how can i open in my demat account.

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