Reliance securities, a full-service stockbroker, is a trading arm of Reliance Capital and was founded in the year 2005. Based out of Mumbai, Reliance securities (or Reliance Smart Money) claims to have a client base of more than 8 Lakh across 1700 cities of the country.
Reliance Securities Review
Although not as exhaustively as Zerodha varsity, but Reliance securities has tried to come up with a knowledge repository for beginner traders on its website.
It contains detailed information on stock trading jargons and explanation on how market dynamics work. Reliance securities, as a full-service broker and with its membership with BSE and NSE, allows its clients to trade across the following segments:
“Reliance Securities has a total of 1,20,292 active clients for 2019-20.”
B. Gopkumar, CEO – Reliance Securities
Reliance Securities Trading Platforms
There are ample trading softwares provided by Reliance Securities across devices, be it a mobile app, terminal software or web-based applications. At the same time, quality wise, there are a few aspects that can be improved in each of these trading platforms. Complete details are mentioned below:
Reliance Securities Tick
Tick is a trading platform based on Big data analytics and provides automated robo insights to clients. The idea behind Tick is to provide real-time recommendations to clients based on their personal portfolio so that there is minimum wastage for order placement. Some of the features of the platform are:
Multiple model screeners with derivative strategies, options strategies, recommendations etc.
Information on Put call ratio, market sentiment, rollover costs, heat maps and more
Technical alerts and signals on a real-time basis
Watchlists across multiple asset classes on the same screen
Here is a basic introductory video of Reliance Tick:
Intra plus is a browser-based trading platform from Reliance securities where the client just needs to enter valid login credentials to start trading. Clients can trade across multiple asset classes with the following features enabled:
Market reports and tips available on the platform
The trading platform is not mobile responsive and thus, is not developed for mobile trading.
Reliance Securities – RMobile Express
RMobile Express is a mobile trading application for trading across multiple asset classes including equity, derivative, currency etc. The mobile app allows clients to:
View intraday charts
trade directly across NSE and BSE
Check order status with information on net positions and holdings
Here are the stats of the mobile app from Google Play Store:
The full-service stockbroker offers multiple communication channels such as:
With limited communication channels, the full-service stockbroker tries to provide reasonable customer service to its clients. The turnaround time for different kinds of tasks is also specified, for instance:
This stipulated time period provides a sense of trust among the client base that the broker follows a specific process and their issue/concern will get resolved within a specific duration.
Reliance Securities Research
Being a full-service stockbroker, Reliance Securities provides research at multiple levels to its clients and depending on their preferences, users can pick the recommendations to use for their trades. Specifically, this is how the broker provides research to its clients:
Research reports (Fundamental call, trade edge, model portfolio, option strategy)
Furthermore, as far as the accuracy of these recommendations or tips is concerned, it is somewhere around average and can certainly be improved from multiple dimensions. At the same time, the timing of these tips can be improved as well.
If you become a client of this stockbroker, notifications will be sent via SMS, email and within the trading platforms.
Reliance Securities Pricing
Here we discuss different prices charged directly and indirectly by the full-service broker, including the ‘hidden’ charges that are not explicitly mentioned by the broker.
Here are the details:
Reliance Securities Account Opening Charges
The stockbroker charges the following amount for opening demat and trading accounts:
Apart from the account opening charges and brokerage, clients need to pay transaction charges as well. Here are the ones levied by Reliance securities:
0.063% on premium
Clients can also call and trade at ₹20 per executed order (the first 20 calls of the month are free, every time).
There are few other charges levied by Reliance Securities and users must be aware of these charges beforehand:
Enquiry Charges – ₹5 per Enquiry (first 5 enquiries are free every month)
Re-issue of welcome kit – ₹200 (Indian Resident), ₹1000 (NRI)
Physical contract note – ₹40 per contract note
Physical Ledger – ₹40 per statement
Delayed Payment Interest – 21%
Reliance Securities Margin
This stockbroker provides the following margins or leverage to its clients for trading:
Upto 10 times for Intraday, Upto 3 times for Delivery
Upto 3 times for Intraday
As shown in the table above, exposure or leverage offered across segments is pretty low. Thus, users looking to exploit exposure across segments on top of their trading capital might get disappointed using the services of this full-service stockbroker.
Reliance Securities Disadvantages:
You must be aware of some of the concerns of using the services of this full-service stockbroker:
No trading in the commodity segment allowed
Exposure or leverage offered is low
Relatively expensive account opening, maintenance and brokerage charges
Customers need to beware of some hidden charges
“There have been 8 complaints registered against the broker for this year. This converts to 0.01% of its active client base while the industry average is 0.01%.”
Reliance Securities Advantages:
At the same time, you get the following advantages while you open your trading account with Reliance:
With a huge presence across the country, branches are available in almost all cities.
Highly advanced trading platforms, especially Reliance Tick Pro.
Aftermarket hours order placement allowed
Quick Customer service with specified turnaround times.
“Reliance Securities is one of those stockbrokers that provides decent service and research along with the wide offline presence and trading products (especially Reliance Tick Pro, one of the top-performing trading applications in the country) but falls short when it comes to provides value for money services.
All the aspects the broker is good in, are available to other stockbrokers at a much cheaper price and thus, Reliance Securities has not been able to create a rapport in the market till date.
It is certainly one of the good ones but again, does not provide the kind of value you may expect upon paying such hefty charges.”
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You need to provide a few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Here is the membership information of the broker with different exchanges and intermediate parties:
Reliance Securities Ltd., 11h Floor, R-Tech Park, Nirlon Compound, Western Express Highway, Landmark - Near Hub, behind Oracle Building Goregaon (East), Mumbai - 400063 Maharashtra, India.
The details can be verified from the corresponding websites of the exchanges.
Reliance Securities FAQs:
Here are the most frequently asked questions about Reliance Securities you must be aware of:
What are the account opening charges at Reliance Securities?
The full-service stockbroker is one of the expensive ones with ₹950 as account opening charges and ₹400 as annual maintenance charges. The industry standards are somewhere around ₹300 to ₹600 and thus, the broker is relatively expensive in this aspect.
What are the brokerage charges offered by Reliance Securities?
In the case of the full-service stockbroker, the brokerage really depends on the kind of initial deposit you offer to the broker. Higher in the initial deposit, lower is the brokerage charge you are required to pay to your broker.
As far as numbers are concerned, you will be charged somewhere around 0.5% to 0.08% of your trade value for equity delivery trades. Mathematically, if you trade for ₹1,00,000 then your brokerage for that particular trade is ₹500.
How is the research quality of Reliance Securities?
Although the broker provides multiple avenues of research at both the technical and fundamental level, the overall quality of research is just average and is not one of the tops ones as far as accuracy is concerned.
What is the customer service quality of Reliance Securities?
The broker provides decent customer service with stipulated turnaround time set for different types of queries and concerns. Furthermore, the number of communication channels (both offline and online) are wide and easily accessible.
How is the mobile trading app of Reliance Securities?
Reliance provides ‘Tick Pro’ mobile app, one of the best performing mobile apps in India for trading. The app is known for decent user experience and the number of features available in the mobile app. Check out the Trading platforms section for complete details.
Reliance Securities Branches
The full-service stockbroker has a presence in the following locations through its sub-broker and franchise networks:
Jammu & Kashmir
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