Reviews of Stock Brokers


Reliance Securities

When it comes to investing in the stock market, choosing the right stockbroker is of utmost importance. It can significantly impact your trading experience, investment returns, and overall satisfaction. In this article, we will provide an in-depth review of Reliance Securities, one of India's prominent Full Service Broker. We will evaluate various aspects, including brokerage charges, trading platforms, customer support, and more, to help you make an informed decision.


Overview

Reliance Securities founded in 2005 by Anil Ambani is a Public company headquartered in Mumbai, India India. As a Full Service Broker, Reliance Securities aims to provide cost-effective buy/sell orders, enabling investors to save money compared to Discount Broker. However, it is crucial to note that Reliance Securities operates as a Discount Broker. It offers extensive investment advice and detailed stock analysis for its clients.

OverviewReliance Securities
Broker TypeFull Service Broker
Type of companyPublic
HeadquarterMumbai, India
FoundersAnil Ambani
Foundation Year2005
Supported ExchangesNA
Total branchesNil

Reliance Securities Account opening charges

To begin trading with Reliance Securities, you need to open a trading account and a Demat account. Reliance Securities charges Free for opening a trading account. Additionally, there is an annual maintenance charge (AMC) of Free or Rs.400 per annum for the Demat account. However, it's worth mentioning that trading AMC is free.

Account Opening and Demat ChargesReliance Securities
Trading Account Opening ChargesFree
Demat AMC (Annual Maintenance Charges)Free or Rs.400 per annum
Trading AMC (Annual Maintenance Charges)Free
Margin MoneyRs.25,000
Offline to Online ChargesYes
DepositoryCDSL & NSDL

Reliance Securities Brokerage Charges

One of the main factors to consider when choosing a stockbroker is the brokerage charges. Reliance Securities brokerage charges for various segments are as follows:

Equity Brokerage Charges

Equity Brokerage ChargesReliance Securities
Equity Delivery Brokerage0.15% – 0.50%
Equity Intraday Brokerage0.15% – 0.050%
Equity Futures Brokerage0.15% – 0.050%
Equity Options BrokerageRs.50 – Rs.100 per lot

Currency Brokerage Charges

Currency Brokerage ChargesReliance Securities
Currency Futures Brokerage0.015% – 0.050%
Currency Options BrokerageRs.50 – Rs.100 per lot

Commodity Brokerage Charges

Commodity Brokerage ChargesReliance Securities
Commodity Options BrokerageNo

Reliance Securities Other Charges

In addition to brokerage charges, there are other charges to consider:

Other Brokerage ChargesReliance Securities
Minimum Brokerage ChargesAs per Transaction
Transaction Brokerage Charges0.00350% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp Duty ChargesAs per the state
GST Charges18% of (Brokerage + Transaction Charges)
STT Charges0.0126% of Total Turnover
Call and Trade ChargesNil

Reliance Securities Equity Leverage

Leverage enables traders to amplify their market exposure using a relatively smaller capital amount. Here's the leverage provided by Reliance Securities:

Equity LeverageReliance Securities
Equity DeliveryUpto 20x
Equity IntradayUpto 25x
Equity FuturesUpto 15x
Equity OptionsUpto 15x

Reliance Securities Currency Leverage

Currency LeverageReliance Securities
Currency FuturesUpto 10x
Currency OptionsUpto 10x

Reliance Securities Commodity Leverage

Equity LeverageReliance Securities
CommodityNo

Reliance Securities Offers

Numerous stockbrokers are enticing customers with attractive offers in order to expand their client base. Some of these enticing offers include:

OffersReliance Securities
Free Stock Trading AccountYes
Free Demat AccountYes
Flexible PlansYes
Brokerage DiscountsYes
Happy HoursNo
1 Month Free PlanNo
Holiday OffersNo
Referral ProgramNo
Zero Brokerage on Loss TradesNo

Reliance Securities Features

FeaturesReliance Securities
Equity Delivery TradingYes
Equity Intraday TradingYes
Equity Futures TradingYes
Equity Options TradingYes
Currency TradingYes
Commodity TradingNo
IPO (Initial public offering)Yes
Stocks SuggestionsNo
Robo AdvisoryNo
PMS (Portfolio Management Services)Yes
Trading InstitutionNo
Trading ExposureUpto 25x
Mutual FundsYes
SIP (Systematic Investment Plan)Yes
Forex TradingNo
BankingNo
InsuranceNo

Reliance Securities Advisory Services

The key distinction between a discount broker and a full-service broker lies in the range of services offered and the rates at which they are provided.

ServicesReliance Securities
Fundamental ReportsYes
Research ReportsYes
Company ReportsYes
Annual ReportsYes
Company Stock ReviewYes
Free Stock TipsNo
IPO ReportsYes
Top PicksYes
Daily Market ReviewNo
Monthly ReportsYes
Weekly reportsYes
Offline AdvisoryYes
Relationship ManagerYes

Reliance Securities Trading Platforms

The Reliance Securities trading software comprises various trading platforms suitable for the diverse needs of the customers. It is built on IIFL's trading platform. It has been trusted by customers for the past two decades. The trading platform is available in three different forms. Namely: a mobile app, a web browser-based platform, and an installable desktop trading application.


Reliance Securities Trading Platforms

Desktop Trading PlatformsReliance Securities
WindowsYes
MacYes
Desktop BrowserYes

Reliance Securities Mobile App

The Reliance Securities mobile app allows users to trade on the go and provides access to trading at BSE/NSE and robo advisory services. Customers can download the app for free from either the google app store or the apple app Store. The app is designed to be simple and intuitive, enabling users to buy stocks, trade in stock and currency futures & options, and invest in mutual funds, ETFs, bonds, and more.

Mobile AppReliance Securities
Mobile BrowserNo
Android AppYes
iOS AppYes
Windows AppNo
Other mobile osNo

Reliance Securities Web Trading

For web-based trading, Reliance Securities offers a powerful trading website known as Reliance Securities trader station. This website can be accessed through any web browser on computers, laptops, mobile devices, or tablets. It provides a wide range of trading and investment options within a single domain. The web platform is seamlessly integrated with payment gateways and banks, enabling instant fund transfers.


Reliance Securities Trade Terminal

Reliance Securities offers a trade terminal, which is a downloadable trading terminal specifically developed for active traders seeking advanced trading features. This desktop application offers real-time data and advanced charts for monitoring intraday and historic stock prices. It also offers a variety of keyboard shortcuts to facilitate real-time market monitoring and faster order placement.


Reliance Securities Customer Support

Customer SupportReliance Securities
Relationship ManagerYes
Offline TradingYes
Online TradingYes
24 * 7 SupportNo
Email SupportYes
Chat SupportNo
Toll free numberNo
Support Branches80

Reliance Securities Complaints

Understanding the number of customer complaints received by a brokerage firm can provide insights into the quality and reliability of their services. The following table shows the information regarding the complaints received by Reliance Securities.

BSE ComplaintsReliance Securities
BSE Complaints145
BSE Resolved Complaints121
Percentage of resolved BSE complaints83.45 %
NSE Complaints198
NSE Resolved Complaints174
Percentage of resolved NSE complaints87.88 %
BSE/NSE Complaint vs. Resolved Percentage85.66 %

Conclusion

In conclusion, Reliance Securities offers a range of trading and investment options through its user-friendly platforms. With competitive pricing and several investment choices, it is one of the best options for investors. However, the lack of comprehensive customer support and the number of customer complaints are areas of concern. Considering all the features and user experience, Reliance Securities can be considered a decent stock broker, but you must examine the pros and cons carefully before making a decision.