Let me share with you my experiences with Reliance Money.
Positive
- Brokerage – Very innovative and Flexible brokerage plans available. You can make your brokerage as NIL provided you pay 500 per year for trading of 5 lacs or Rs 500 per 2 month for trading of 1 crore. This option was available to me at least and they keep getting new brokerage plans.
- They have an averagely good online system with lot of additional security.
- You can find Reliance Money Office very nearby as they have lot of them and they are really helpful in getting things done for you.
Negative
- They have a very bad phone trading facility and it once took me around 15 minutes to get a trade done using phone but if you have good relationship with some Reliance Money office people things may be different.
- Online system has one major problem which is it just logout in few minutes and you have to constantly do something to remain logged in.
- They used to offer very few mutual funds online.
It has been quite a while now when I have made my account zero balance with Reliance Money but yet I get lot of SMSes and phone calls asking me to reconsider and re-open the account.
If you have more to share about Reliance Money please do so in comments below.
