Free Trading + Demat Account

RMoney Open Account | Account Opening Process Review


-1.69% 1,981 Clients

Raghunandan Money (RMoney) is Agra based SEBI registered financial service provider. RMoney offers a range of financial products including Equity Trading at BSE and NSE, Commodity Trading at MCX and NCDEX, Currency Derivatives Trading at NSE, Mutual Funds Investment, Corporate FD, Life Insurance, General Insurance and Depository Services (CDSL).

RMoney offers two types of brokerage plans. The flat fee discount brokerage plan and the traditional full-service brokerage plan.

RMoney is popular for zero brokerage trading plan. This plan allows customers to trade online at flat Rs 18 per trade at BSE, NSE, MCX, and NCDEX. RMoney doesn't charge any brokerage in Equity delivery (Cash & Carry) segment. Additionally, free add-ons are available to customers including unlimited call & trade, free trading software (desktop, website and mobile app), free research advice etc.

Raghunandan Money also provides advisory services and wealth management services to HNI customers.

Raghunandan Money Facts

  • Incorporated in 2004.
  • Member of SEBI, BSE, NSE, MCX, NCDEX, and CDSL.
  • Among top 5 commodity brokers in Indiaby trading volume. Contributes over 8% of NCDEX daily turnover and 3-4% of MCX daily turnover.
  • Offer free equity delivery trading.
  • Launched zero brokerage services in the year 2017. This plan offers free equity delivery trades (no brokerage at all). For all other segments, (at BSE, NSE, MCX, and NCDEX) brokerage is flat Rs 18 per trade irrespective of the size of the trade.
  • Services offered including asset management, capital market advisory and brokerage services in commodities, equities, and derivatives.

Product Offerings

  • Online Trading
    • Equity Trading at BSE, NSE
    • Commodities Trading at MCX
    • Currency Trading at NSE
  • Depository Services (Demat Account)
  • Asset Management
  • Capital Market Research and Advisory

Brokerage Plans Offered By RMoney

RMoney offers 2 trading plans to its customers:

  1. Zero Brokerage Plans
    • Pay flat Rs 18 per trade brokerage across segments and exchanges irrespective to the size of the order.
    • Equity delivery trades are brokerage free. They don't charge brokerage for cash & carry orders in Equity Cash segment.
    • Get unlimited call & trade are free.
    • The personalized dealer is available if you need assistance with placing orders.
  2. Happy Service Plan
    • Happy Service Plan = Customized Services + Customized Brokerage
    • Designed for research-based personalized trading experience
    • Brokerage is negotiable and changed similar to traditional brokers.
    • Free research, tips & advice.
    • Free Call & Trade. Free trading software.
    • Flexible margin limits.
    • Personalized dealer for broker-assisted trades.

Open an Account with Raghunandan Money (RMoney Account Opening)

You could open an account with the broker in 3 easy ways:

  1. Online Account Opening (Instant & Paperless)
  2. Visit Raghunandan Money Branch Offices
  3. Download & Print PDF Form

It's very easy to open an account and move your existing holdings to RMoney. You could choose one of the options given below to open an account.

  1. Online Account Opening (Instant Paperless Account)

    You could open an online trading account instantly (hardly takes 5 minutes) if you have your AADHAR linked with your mobile number. This paperless process has 2 main parts:

    1. eKYC (Know your customer)
    2. eSignature (Aadhar based electronic signature on your form)

    In eKYC, you don't have to fill a long KYC form, if you have done KYC with any other financial institution (i.e. bank or another broker) in recent time. Based on the basic information you share (i.e. name, pan and date of birth), all other information needed for KYC is pulled from Central KYC Database. No in-person verification if needed after successful eKYC.

    The Aadhar eSign process provides a digital signature to your account opening form. This works only if you have the correct phone number linked to Aadhar and can confirm that through OTP. This is the fast, safe and convenient way of opening trading and demat account.

    What do you need before opening an online account?

    For quick online account opening, you should keep following documents ready (scanned or photographed):

    1. AADHAR Card
    2. PAN Card
    3. Address Proof
    4. Latest Bank Statement with IFSC/MICR Code
    5. Canceled Cheque
    6. Passport Size Photo (Scanned / Digital)

    Steps for digital account opening (online trading and demat account)

    1. On home page top right, click on the button '5 min account opening'.
    2. Enter your email address and phone number on online account opening page.
    3. Provide your basic info like name, date of birth, PAN Number etc for eKYC (Know Your Customer)
    4. Verify the information pulled from Central KYC Registry
    5. Validate your Aadhaar OTP to fetch your details from UIDAI
    6. Electronically sign the account opening documents.
    7. On receipt of the confirmation to the eSigned form, your account gets opened.

    The customer may also have to attach scanned copies of PAN Card, Photo, Bank Statement etc. in case needed.

    Benefits of opening the paperless account

    • The paperless process makes the account opening hassle-free.
    • If you could verify OTP send to AADHAR linked phone number, the account opening takes just a few minutes.
    • Support documents are also digitally signed. No printing or signing documents.
    • It is fast, secure and a convenient process.
  2. Download PDF Forms

    If you would like to open an account by filling up the paper forms, the PDF Account Opening Forms are available online in the download section of RMoney's website. Assistance is available to you over the phone to guide you through the complete account opening process.

    You could download, print, fill, sign and courier the forms along with the required identity proof documents to your nearby Raghunandan Money office. If all the documents are in correct order, the account opened within 2 days of receiving the forms.

    This process is less preferable as it takes a longer time to an open account.

  3. Visit Raghunandan Money Office Branch

    Raghunandan Money has branch and franchisee offices across major cities in India. You could visit any of these offices to open an account in-person. Visit the 'Contact Us' page of RMoney to find the Raghunandan Money Branch in your city.

Account Opening Specials

Free Account Opening (Trading + Demat Account)

Raghunandan Money has an exclusive offer running. In this offers you could open the 2-in-1 account (Trading + Demat Account) for free. You could also choose a lifetime free amc demat account by paying Rs 2500 deposit.

This special limited time offer saves over Rs 1000 in comparisons to other brokers.

Check Account Opening Status

For online account opening, you could check the status of your application by visiting the website you used to fill the online application for account opening.

If you have submitted the paper forms in the branch, please call customer services or visit your branch to know the account opening status. In the case of paper forms, it takes around 2 business days to open the account once the forms arrived.

Account Opening PDF Forms

Most customers prefer opening an account online. Its instant, paperless and hassle-free.

You could also open an account by downloading the PDF account opening form, requesting a form through courier or visiting a branch to get the forms.

Raghunandan Money PDF Forms are available at.

RMoney Website >> Downloads >> Forms & Formats for customers

Account Closing

Raghunandan Money offers 2-in-1 account (a trading and a demat account) to its customers. If you don't need the accounts anymore, you could close them anytime.

Steps for RMoney Accounts Closing:

  1. Go to RMoney website.
  2. Click on the 'Download' link in footer.
  3. Go to 'Search in Downloads' textbox and search for 'closure'.
  4. You will get a link to 'Commodity, Equity, Currency trading account closure – format'
  5. Download and print this account closure application PDF.
  6. Fill the application.
  7. Attach a self attested copy of your ledger.
  8. Send it to Raghunandan Money office address mentioned in the application.

Note:

  • The application is processed within 3 days of the form receipt.
  • The balance fund and demat holdings are transferred to the designated account mentioned in the account closer form.
  • The account closure intimation and final statement of the accounts for the fund and demat holdings are sent to the client through registered post.

Also Note:

  • The account cannot be closed online, through email or through phone calls.
  • The physically signed application form should be submitted. The self-attested copy of your ledger is required.
  • If there are multiple account holders on the account, each one has to sign on account closing form.

Note that follow-up for account closure is important. If you do not get confirmation in 15 days, contact the customer support to check the status.

RMoney Account Opening Charges

Customer pays account opening fee for trading account opening with RMoney. The account opening fees are as below:

  • RMoney Account Opening Charges (Trading Acct): ₹0 (Free)
  • RMoney AMC Charges (Trading Acct): ₹0 (Free)
  • RMoney Account Opening Charges (Demat Acct): ₹0 (Free)
  • RMoney AMC Charges (Demat Acct): ₹0 for lifetime (Free)

Frequently Asked Questions

  1. How much time does it take to open an account with RMoney?

    Once you submit your complete account opening form and upload all the required documents for verification, it takes about one working day to open an account.

    Discuss this question

  2. What kind of margins does Raghunandan Money provide?

    Raghunandan Money has 2 different trading plans available to its customers. The exposure available in each of these plans are different. Contact RMoney customer support to understand the margin offered.

    Discuss this question

  3. Why does RMoney require a Power of Attorney (PoA) to open a demat account?

    You have to submit a physical POA to be able to sell and transfer shares from your demat account through the trading account linked to it. Without PoA, the broker cannot withdraw the shares from your demat account and thus cannot complete the sell transaction.

    Discuss this question

  4. What documents are required to open a demat account with RMoney?

    You must keep following documents scanned to quickly finish your online account opening application:

    • Aadhaar Card
    • PAN Card
    • Canceled Cheque
    • Latest Bank Statement with IFSC/MICR code.

    Discuss this question

  5. How to close Rmoney demat account?

    Raghunandan Money provides trading and demat (2-in-1 account) to its customers. Customer can close his account at any point of time. They just have to follow few steps to close the account. But before submitting the request, the customer has to complete below formalities:

    1. Clear any outstanding balance
    2. Transfer securities in other demat accounts
    3. Return any unused delivery instruction booklet slip back to DP

    Steps to close Rmoney Account:

    1. To download the form, click on the 'Download' link in the footer
    2. In search box search for 'Closure'
    3. It will show you the link to 'Commodity, Equity, Currency trading account closure – format'
    4. Click on Download and print the pdf
    5. Or click here to 'Download the form'
    6. Fill the application
    7. Send it to the given address on the form

    The whole process is completely offline so you need to submit the physically signed form. You cannot close it online or via email. Also if it's a joint account, all account holders have to sign the form.

    Note:

    • The processing time for account closing within 3 days of the form receipt.
    • The balance fund and demat holdings are transferred to the designated account mentioned in the account closer form.
    • The account closure intimation and final statement of the accounts for the fund and demat holdings are sent to the client through registered post.

    Discuss this question

Information about RMoney account opening, RMoney open account, RMoney opening charges, RMoney account opening charges, RMoney account opening status, RMoney amc charges, RMoney account charges and RMoney account closure.

RMoney Competitors Review

Information on this page was last updated on Monday, October 8, 2018


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