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...
Stock Broker Review Ratings
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
24. Partha Das Jan 20, 2008 11:19:31 PM IST | Reply
What's the software of Religare you are using Mr. Vimal Ravi? If its RACE PRO 4.2.1 then no problem shouldn't be arising. Just go through START TRADING from the right corner of the home page of www.religareonline.com, given your login & trading password, to download the software & JVM. I am using it last two years.
23. Vimal Ravi Jan 18, 2008 2:25:37 AM IST | Reply
I am a religare user.But I am very sorry to say that the service provided by them is very bad. The software they provided me for trading is a pathetic one. Each and every time we need to do settings in the browser, install java packages etc. Above all these, some links will not work most of the time and taking a lot of time to open a screen. I complained many times and they are saying that they will replace their current server very soon.But nothing happned till this time. But one thing I will say is that the recommendations by religare is very good.So what I am doing right now is that I am using their recommendations and trading using Sharekhan(Sharekhan recommendations are poor compared to religare). So my opinion is Use Religare recommendations+trade by using the software provided by sharekhan(or any other good software provider for trading).
22. Race Religare Horrible Dec 25, 2007 3:26:52 PM IST | Reply
Religare RACE is the most pathetic service. I had applied for an account opening about 2months back. They have encashed my cheque and now refuse to even answer my calls. They have the most horrible customer service. To anyone reading this, Please donot ever open an account with RELIGare RACE team. Religare RACE team is the worst demat provider. I sincerely hope SEBI catches the Religare RAce people and ask them to close shop. Religare RACE will not only themselves have problems but are also sullying the image of entire RANBAXY group.
REligare RACE customers should unite and write to SEBI or BSE investor desk so that appropriate action can be taken against them.
A request again not to ever trade with religare RACE service.