Top Stock Advisory
Way2Wealth vs. Reliance Securities
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Way2Wealth and Reliance Securities. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Way2Wealth and Reliance Securities.
Overview
Way2Wealth is private company and Reliance Securities is public company. both are full service broker as well. V.G. Siddhartha co-founded Way2Wealth in 1984. And Reliance Securities was founded in the year 2005 by Anil Ambani. Way2Wealth's headquarters are in Bangalore, Karnataka and Reliance Securities's headquarters are in Mumbai, India.
Way2Wealth and Reliance Securities both are full service broker as well. Way2Wealth is registered in NA, while Reliance Securities is registered in NA. The total branches of Way2Wealth are Nil and the Reliance Securities branches are Nil.
| Overview | Way2Wealth | Reliance Securities |
|---|---|---|
| Broker Type | Full Service Broker | Full Service Broker |
| Type of company | Private | Public |
| Headquarter | Bangalore, Karnataka | Mumbai, India |
| Founders | V.G. Siddhartha | Anil Ambani |
| Foundation Year | 1984 | 2005 |
| Supported Exchanges | NA | NA |
| Total branches | Nil | Nil |
Way2Wealth and Reliance Securities Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Way2Wealth charging Zero and Reliance Securities charging Free.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Way2Wealth Demat account is Rs.242 per Annum and for the Reliance Securities Demat account is Free or Rs.400 per annum. The Trading AMC for Way2Wealth and Reliance Securities is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Way2Wealth and Reliance Securities is CDSL.
| Account Opening and Demat Charges | Way2Wealth | Reliance Securities |
|---|---|---|
| Trading Account Opening Charges | Zero | Free |
| Demat AMC (Annual Maintenance Charges) | Rs.242 per Annum | Free or Rs.400 per annum |
| Trading AMC (Annual Maintenance Charges) | Free | Free |
| Margin Money | Minimum 10,000 | Rs.25,000 |
| Offline to Online Charges | Yes | Yes |
| Depository | CDSL & NSDL | CDSL & NSDL |
Way2Wealth and Reliance Securities Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Way2Wealth is 0.1% – 0.4%, while Reliance Securities charges you 0.15% – 0.50%.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Way2Wealth is 0.01% – 0.04% and for Reliance Securities also, it is 0.15% – 0.050%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Way2Wealth charge 0.01% – 0.04% and Reliance Securities charge 0.15% – 0.050% for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Way2Wealth charges Rs.20 – Rs.70 per Lot, and Reliance Securities charges Rs.50 – Rs.100 per lot.
| Equity Brokerage Charges | Way2Wealth | Reliance Securities |
|---|---|---|
| Equity Delivery Brokerage | 0.1% – 0.4% | 0.15% – 0.50% |
| Equity Intraday Brokerage | 0.01% – 0.04% | 0.15% – 0.050% |
| Equity Futures Brokerage | 0.01% – 0.04% | 0.15% – 0.050% |
| Equity Options Brokerage | Rs.20 – Rs.70 per Lot | Rs.50 – Rs.100 per lot |
Way2Wealth and Reliance Securities Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Way2Wealth is 0.01% – 0.04% and for Reliance Securities is 0.015% – 0.050%.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Way2Wealth charges Rs.10 – Rs.40 per Lot for currency options, whereas Way2Wealth charges Rs.50 – Rs.100 per lot.
| Currency Brokerage Charges | Way2Wealth | Reliance Securities |
|---|---|---|
| Currency Futures Brokerage | 0.01% – 0.04% | 0.015% – 0.050% |
| Currency Options Brokerage | Rs.10 – Rs.40 per Lot | Rs.50 – Rs.100 per lot |
Way2Wealth and Reliance Securities Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Way2Wealth charges 0.01% – 0.04% for commodity trading, while Reliance Securities charges No.
| Commodity Brokerage Charges | Way2Wealth | Reliance Securities |
|---|---|---|
| Commodity Options Brokerage | 0.01% – 0.04% | No |
Way2Wealth and Reliance Securities Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Way2Wealth levies a minimum brokerage fee of Customizable, while Reliance Securities charges As per Transaction brokerage fee.
Transaction Brokerage Charges: Way2Wealth levies a transaction brokerage charge of 0.00325% of Total Turnover, while Reliance Securities charges 0.00350% of Total Turnover.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Way2Wealth is 0.0002% of Total Turnover and for Way2Wealth is 0.0002% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Way2Wealth are 0.0126% of Total Turnover, while for Reliance Securities, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Way2Wealth charges NA and Reliance Securities charges Nil.
| Other Brokerage Charges | Way2Wealth | Reliance Securities |
|---|---|---|
| Minimum Brokerage Charges | Customizable | As per Transaction | Transaction Brokerage Charges | 0.00325% of Total Turnover | 0.00350% of Total Turnover | SEBI Turnover Charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | NA | Nil |
Way2Wealth and Reliance Securities Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Way2Wealth is up to Upto 2x and by Reliance Securities it is up to Upto 20x.
Equity Intraday: Leverage for equity intraday by Way2Wealth is up to Upto 6x and by Reliance Securities it is up to Upto 25x.
Equity Futures: Leverage for Equity Futures by Way2Wealth is up to Upto 2x and by Reliance Securities it is up to Upto 15x.
Equity Options: Leverage for Equity Options by Way2Wealth is up to Upto 4x and by Reliance Securities also, it is up to Upto 15x.
| Equity Leverage | Way2Wealth | Reliance Securities |
|---|---|---|
| Equity Delivery | Upto 2x | Upto 20x | Equity Intraday | Upto 6x | Upto 25x | Equity Futures | Upto 2x | Upto 15x | Equity Options | Upto 4x | Upto 15x |
Way2Wealth and Reliance Securities Currency Leverage
The currency futures leverage provided by Way2Wealth is up to Upto 2x, while for Reliance Securities it is up to Upto 10x.
The currency options leverage provided by Way2Wealth is up to Upto 2x, while for Reliance Securities it is up to Upto 10x.
| Currency Leverage | Way2Wealth | Reliance Securities |
|---|---|---|
| Currency Futures | Upto 2x | Upto 10x | Currency Options | Upto 2x | Upto 10x |
Way2Wealth and Reliance Securities Commodity Leverage
The commodity leverage provided by Way2Wealth is up to Upto 2x, while for Reliance Securities it is up to No.
| Commodity Leverage | Way2Wealth | Reliance Securities |
|---|---|---|
| Commodity | Upto 2x | No |
Way2Wealth and Reliance Securities Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Way2Wealth | Reliance Securities |
|---|---|---|
| Free Stock Trading Account | Yes | Yes | Free Demat Account | Yes | Yes | Flexible Plans | Yes | Yes | Brokerage Discounts | Yes | Yes | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | Yes | No | Referral Program | Yes | No | Zero Brokerage on Loss Trades | No | No |
Way2Wealth and Reliance Securities Features
Equity Trading: Way2Wealth and Reliance Securities brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Way2Wealth and Reliance Securities also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Way2Wealth and Reliance Securities broker is that you can also invest in IPOs. Way2Wealth also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Way2Wealth offers trading exposure of up to Upto 6x, while Reliance Securities gives up to Upto 25x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Way2Wealth and Reliance Securities, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Way2Wealth and Reliance Securities also allow you to trade in forex trading.
| Features | Way2Wealth | Reliance Securities |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | Yes | No | IPO (Initial public offering) | Yes | Yes | Stocks Suggestions | No | No | Robo Advisory | Yes | No | PMS (Portfolio Management Services) | Yes | Yes |
| Trading Institution | No | No | Trading Exposure | Upto 6x | Upto 25x | Mutual Funds | Yes | Yes | SIP (Systematic Investment Plan) | Yes | Yes | Forex Trading | No | No | Banking | No | No | Insurance | Yes | No |
Way2Wealth and Reliance Securities Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Way2Wealth and Reliance Securities offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Way2Wealth | Reliance Securities |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | Yes |
| Company Stock Review | Yes | Yes |
| Free Stock Tips | Yes | No |
| IPO Reports | Yes | Yes |
| Top Picks | Yes | Yes |
| Daily Market Review | Yes | No |
| Monthly Reports | Yes | Yes |
| Weekly reports | Yes | Yes |
| Offline Advisory | Yes | Yes |
| Relationship Manager | Yes | Yes |
Way2Wealth and Reliance Securities Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Way2Wealth and Reliance Securities offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Way2Wealth | Reliance Securities |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | Yes | Yes |
Way2Wealth and Reliance Securities Mobile Trading Platforms
Way2Wealth and Reliance Securities offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Way2Wealth | Reliance Securities |
|---|---|---|
| Mobile Browser | No | No |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Way2Wealth and Reliance Securities Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Way2Wealth and Reliance Securities give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Way2Wealth | Reliance Securities |
|---|---|---|
| Relationship Manager | Yes | Yes |
| Offline Trading | Yes | Yes |
| Online Trading | Yes | Yes |
| 24 * 7 Support | No | No |
| Email Support | Yes | Yes |
| Chat Support | No | No |
| Toll free number | No | No |
| Support Branches | 180 | 80 |
Way2Wealth and Reliance Securities Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Way2Wealth and Reliance Securities registered and resolved complaints.
For Way2Wealth, the Percentage of resolved BSE complaints is 100.00 % and the Percentage of resolved NSE complaints is 100.00 %.
For Reliance Securities, the Percentage of resolved BSE complaints is 83.45 % and the Percentage of resolved NSE complaints is 87.88 %.
We can say that Way2Wealth is better than Reliance Securities in case of resolving customer complaints.
| BSE Complaints | Way2Wealth | Reliance Securities |
|---|---|---|
| BSE Complaints | 128 | 145 |
| BSE Resolved Complaints | 128 | 121 |
| Percentage of resolved BSE complaints | 100.00 % | 83.45 % |
| NSE Complaints | 196 | 198 |
| NSE Resolved Complaints | 196 | 174 |
| Percentage of resolved NSE complaints | 100.00 % | 87.88 % |
| BSE/NSE Complaint vs. Resolved Percentage | 100.00 % | 85.66 % |
Frequently Asked Questions
Is Way2Wealth better than Reliance Securities?
Way2Wealth and Reliance Securities are at the top among the best full service brokers. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Reliance Securities better than Way2Wealth?
Reliance Securities and Way2Wealth are at the top among the best full service brokers. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Way2Wealth and Reliance Securities?
Way2Wealth and operate as full-service brokers, generally resulting in higher brokerage charges compared to discount brokers. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Way2Wealth and Reliance Securities?
To figure out which of the two stockbrokers, Way2Wealth and Reliance Securities, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Way2Wealth with other stock brokers
Visit the following pages to see a detailed comparision report of Way2Wealth with other brokerage firms.
Compare Reliance Securities with other stock brokers
Visit the following pages to see a detailed comparision report of Reliance Securities with other brokerage firms.