I have an account with Religare Securities Limited and today I will share all my experiences with them, positives and negatives.
Positives
- Brokerage – If you have an account with some other broking house they will offer you better brokerage rate. If you can negotiate you can even get 2.5 paise for trading and 25 paise for delivery. (At least they have done that to me.)
- Good Phone Trading facility.
- They use Diet Odin for online trading which is quite good for trading.
- Good Service with Payouts and all done pretty much on time.
- Daily trading confirmation calls which I really liked.
Negatives
- They use Diet Odin for online trading which is quite good but only for Equity trading and you cannot transact in mutual funds using it. I am not sure but they tell me that you can transact in mutual funds using their online website and I tried using it but could not find it very easily.
- They use Diet Odin which is again not totally integrated and you cannot see your positions using Diet’s interface.
- Good Service for payouts but again it is manual and the system is not integrated to do online transfers like many other brokerage houses.
- I have an account with Religare for an year plus now and have made some handsome money and so there was no requirement for pay-ins and I only did payouts and so I am not sure I can comment on their cheque collection system but as it is manual I am sure there has to be some glitches.
I rate their service as averagely decent service but the person who gives you call is very limited in knowledge.
Share your views and experiences about Religare in comments below.
