Religare is an emerging markets financial services group with a presence across Asia, Africa, Middle East, Europe, and the Americas. In India, Religareís largest market, the group offers a wide array of products and services including broking, insur...
the religare is the wrost company in broking house that i ever been have. disadvantages of religare: 1)they do not provide margin funding. 2) basically offline for trading. 3)no customer care and bad response. 4) limitatation in purchasing. 5) lots of hidden charges. 6) no reserch reports and 3 rd class terminal not easy to operate. 7) sattelment and sort position problems.
43. Manjeet S Randhawa Apr 15, 2008 12:51:43 PM IST | Reply
hi rakesh.... thatz what i was saying if ur a big client u will get gud service otherwise not .... for small clients local brokers r best.... I am having trading account with 2 local brokers ... and am getting good service ... if am getting good service on small turnover why shuldnt i give them big turnover as well .... now i have stopped trading with religare and have started given handsome volumes to these small brokers and am getting damn good service ...
hi manjeet, i am not suprised you had that experience. it was pretty much the same experience for me. but my RM was from andhra pradesh and i knew how to speak telugu. i got closer to her and got the help when needed promptly. and she was always saying no one cares for the kind of business i give, becose she was close to me she helped . if you want good service in atleast have 1 lakh ruppes in ur account and give more business. this is not how business is supposed to be. i am pretty sure i will grow my investments to more than one lakh one day. and that day religare wont be geting my business for the way they treat me.
41. Manjeet S Randhawa Apr 11, 2008 4:07:19 PM IST | Reply
Hi frnds .... I have a online account with religare, R-ACE Pro ... I paid Rs. 1800 for this, refundable... only if u give them brokerage of more than 1800 in a year... The software is good but the people r not good ... they care for u only if u r BIG CLIENT and bull s- - t if u r small client... my experiance is not good with them ... they charge interest on delayed payemnt ...for them, delayed payment means that if u buy shares on monday pay on tuesday else they charge interest and pay nothing for unutilised amt... my RM left the Religare and no one bothered to inform me abt that and it has been more than 4-5 months i have no informatin abt my RM.... In short after having experiance with them and listening to the views of other small investors i have come to conclusion that .... small investors shud open account with local brokers only or at the most brokers with regional operations only .... they atleast give u good service and if u have any problem they listen to u patiently and solve it immediately ....
Imtiaz, I think you better to opt for R-ACE Pro trading platform (activation charge Rs. 999 & minimum margin will be 10000) . Itís been software provided platform, please read my article in Reliance Money segment. Your brokerage type will be Classic A/C.
39. Imtiaz Ahmad Apr 3, 2008 5:57:18 PM IST | Reply
Thanks Partha, Which one is Classic Rs. 299 Or Rs. 499. And tell me what is minimum margin? Thank You
38. Partha Das Apr 3, 2008 12:01:45 PM IST | Reply
Dear Imtiaz, I am using Race-Pro of Freedom A/C from last 2 years. There are no hidden charges as far as I am facing. But frankly speaking it's best suited package for high volume day traders. Better you can opt for Classic A/C package.
37. Partha Das Mar 31, 2008 9:29:39 PM IST | Reply
Dear MANJITH, taking Margin Money provision is completely optional. If you don't need any kind of margin exposure just tell it to your RM & fill the application form accordingly as I did it. Your query regarding ICICI Bank a/c that I have no idea about it though I also heard it. Follow every Terms & Conditions regarding all the matter. Ask your RM whether being provided the software R-ACE Pro 4.2.
Dear Mr.Partha thanks for the clarrification reg. min margin money. As I am very new to share markets & I wud like to open an account with religare & one of my friend has said that Religare will provide a free 0 balance acc. with ICICI is it right. Pls confirm I wud invest 3 to 5k per month for now in Markets and trade very less in this case is this necessary to maintain marginal money with religare.
35. Partha Das Mar 29, 2008 11:27:28 PM IST | Reply
Dear Manjith, if you are an intraday trader you have to pay a possible minimum loss amount according to your risk appetite in advanced called 'margin money', i.e. the broker will provide you 6 to 8 times (5000*6=30000) margin exposure for intraday purpose only & your loss not exceeding Rs.5000 anyway.
What is minimum margin money of Rs.5000 they have mentioned in Religare anybody help me in this. And is there life time no DP in reliance money trading account
33. Partha Das Mar 27, 2008 11:13:54 PM IST | Reply
To message no.45. NAGESWARA RAO, I don't know who told you thease misleading information. I am using Religare platform 'R-ACE Pro' from last 1 year. I opted for "Freedom" a/c, that is charged only Rs.4000/anum & trade upto 3,00,000 intraday. Please chek this websites Religare segment.
32. NAGESWARA RAO Mar 10, 2008 2:22:57 PM IST | Reply
Seeing this web-site, I called up Religare Executive for details on opening the account. He obsolutely told that the data is totally wrong.
1. They pay no interest on un-utilised funds. 2. Annual demat charges of Rs.300/- needs to be paid 3. Brokerage of 0.5% for delivery and 0.05% for non-delivery. 4. Software charges of Rs.1800/- which is refundable.
When, I showed the web-site, he simply asked me to get in touch with the web-site and not Religare as no such products exists in their company.
Please check authenticity of the data on web-sites.
31. Munish Jandial Mar 7, 2008 9:23:34 PM IST | Reply
I've submitted all formalities for Dmat A/C along with a cheque of Rs. 1250/- to Reliance money's Amritsar Branch on 8 Aug 2007 till date (8 mar 2008),no A/c has been opened nor thy are giving any response to my phone and Emails. Friends Plz dont go to Reliance Money Ever.
I have opened account with Religare and it feels like I will fall sick soon. So much of headache. You will face so many problems with their account and funnily nobody listens to you, relationship executive do not pick up ur phone, ccare pays no heed, ur left to god. so dont repeat my mistake or else u will regret all ur life
My Dear Friends! u will belive me after reading my story of Religare services.I opened an acount last month but didn't get password for an month and when enquired they told me that it is delivered to Mr.Mahesh.See the funny thing my name is akshay and confidential letter is delivered to some other unknown person.later they send me password through mail. I also opened Zero balance ICICI bank savings account with reference of RELIGARE .I transfer money from ICICI bank to demat acc still after 25 days still they have not debited money either to Denmat acc not the ICICI bank. This is the service of Religare. Pls u people open Trading account with those who have their own banks like ICICI,HDFC only as it will be convinient for funds transfer and fund withdrawl.
26. kaushik shendye Jan 25, 2008 4:40:55 PM IST | Reply
I am using R-Ace account. I have cancelled one placed order for intra day buy. i got message display that order is cancelld and no pending. i checked trade log on day end found myself in profit. but next day i came to know that the cancelld order was exicuted and automatcaly squre offed at 3.15 pm there is no reply frome religare, RM is not picking the phone and no reply from religare for my email. please help.
25. surendra kumar Jan 24, 2008 10:21:29 PM IST | Reply
i do not know from where my phone no one of relegare marketing executive got. he took me in confidence and i lost my 50 % amount because of resource provided by relegare. it is my sincere advise please tell your friends 'be away from religare marketing executive' because the are very dangerous, they will grab you till you give the cheque, then you will weep like me.no support from any side. it is requested from this web site to take up this case so further damage can be avoided of innocient and helpless people