New Product offers unlimited trading and margin trading to new customers for Rs. 6000 Product aimed at aggressive investors and regular traders, valid for three months First product in the industry offering unlimited trading option on flat fee model Customers to get range of value adds including fee waiver on account opening, Shares As Collateral facility, SuperTrade Subscription and Trading calls on trade with new product
Jaipur, 9th February, 2010: Reliance Money, one of the largest distribution and broking brands in the country, todaylaunched a new product for customers that allow unlimited equity trade for a fixed fee. The new product, which is being offered by Reliance Securities Limited (RSL), was unveiled here by Mr. Vikrant Gugnani, Executive Director, and Kapil Bali, CEO, Retail Broking, RSL, at a press conference today.
“This is the first of its kind product available in the Indian broking industry. The new offer allows all traders and investors to cap their brokerage expense while offering them unlimited trade option through our platform. This is also in line with our strategy to offer competitive pricing and convenient brokerage options for our investors” said Mr. Gugnani.
This new product – Trade Unlimited – offers unlimited delivery trading and margin trading turnover and is available to new customers.
As an incentive for availing this product, the company would be waiving account opening charges; offer shares as collateral facility – which allows client to trade on intraday and F&O by pledging shares instead of having to provide cash margins; offer SuperTrade Subscription – a superfast execution platform – for 90 days, and Trading calls on its platform.
“This product is aimed to provide huge price advantage – upto 25-50 per cent of brokerage – to aggressive investors and traders who easily end up spending much more on other platforms. According to in-house limited research done by the company – Regular traders doing more than Rs. 5 lakh a day or over Rs. 1 crore a month in margin/intraday/F&O at a brokerage of 0.03% could be spending Rs. 3300 a month or more on brokerage”, said Mr Bali.
The new account would be activated between 10-15 days. The 90 day count will begin either from the day the client starts his first trading; or the 10th day after account activation in case no trade is done before that. Once the 90 day period is over the customers can choose from the existing range of limit cards depending on their trade volume and value.
About Reliance Securities Limited
Reliance Money, under the brand name, provides a single window, enabling customers to access, amongst others, Equity & Commodity Derivatives, Portfolio Management Services, Wealth Management Services, Investment Banking, IPO’s, Mutual Funds, Life & General Insurance, Money Changing, Money Transfer, and Gold Coins Reliance Securities Limited is a broking and distribution company offering Equity and Derivative trading, distribution of Mutual Fund and IPOs, Portfolio Management and Investment Banking.
RSL is a group company of Reliance Capital, one of India’s leading and fastest growing private sector financial services companies, ranking among the top 3 private sector financial services and banking companies in terms of net worth.
Reliance Capital is a part of the Reliance – Anil Dhirubhai Ambani Group.
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