Religare Securities Review & Brokerage Charges

Religare Securities Review 2020

Religare Securities Review 2020

Religare Broking Ltd. (RBL) is basically a fully owned subsidiary of Religare Enterprises Limited (REL), a top-rated diversified financial services group in the country. RBL is one of the market leading securities institutions in the country catering over 8 lakh clients across both Offline and Online platforms.

The stock broking firm is an active member of BSE, NSE, MCX-SX and USE.

Set up in 1986, Religare Securities offers a range of trade & investment services like retail broking, depository services and other related investment services to customers located across India. With a remarkable presence in over 500 cities though its branches and sub-brokers, Religare is considered one of the biggest conventional stock brokers in the country offering personalize services to over 10 lakh customers.

The services provided by Religare includes trading in equity, equity derivatives, currency derivatives, commodity, demat account and various associated services, Mutual Funds, NCD, IPO etc.

Religare Enterprises Limited (REL) is the holding company for one of India’s topmost diversified financial services groups. REL offers a unified cluster of financial services through its primary subsidiaries and operating entities, including loans to SMEs, Affordable Housing Finance, Health Insurance and Capital Markets. REL is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India. Largely as a group, Religare aspires to meet every segment of the market from mass retail to affluent, HNIs, mid-size corporates, SMEs to large corporates and institutions. With over 7000 employees, the group has a presence across more than 1450 locations pan India.

The full-service stock broker allows its clients to trade and invest across various segments including:

  • Equity
  • Derivative
  • Commodity Trading
  • Currency Trading
  • Mutual Funds
  • NCDs
  • IPOs
  • NRI Demat Account

Some important things about Religare Securities:

  • 30+ Companies under Fundamental Coverage
  • 150+ Intraday Calls with Success Rate of 65%
  • 8+ Stocks in Religare Alpha Portfolio
  • 200+ Positional Calls with Success Rate of 61%

Membership Information

The membership details of Religare Securities are given below.

Entity Membership ID
BSE CM, F&O, CD, CO Code: 3004 Clearing No: 3004
NSE CM, F&O, CD TM Code: 06537 Clearing Member (F&O) No. M50235
MSEI INE260676935
MCX Membership No. 56560
NCDEX Membership No. 01276
AMFI ARN No. 139809
SEBI Regn. No. INZ000174330
Registered Address 2nd Floor, Rajlok Building, 24,Nehru Place, New Delhi-110019, India

How can I open demat account in Religare Securities ?

Religare features 2-in-1 account which combines a trading and a demat account. Customer can choose not to open demat account if they are looking to trade only in derivatives (F&O).

Similar to other traditional stock brokers, Religare has a range of prepaid and postpaid trading plans for its customers.

How can I do intraday trading in Religare securities?

There are primarily two ways to open a trading account with Religare Securities.

  1. Religare Insta Account (Online Account Opening)
  2. Visit Religare Branch or Sub-broker office

To open an account with Religare for trading, follow one of the steps:

  1. Religare Insta Account

Religare offers online quick account opening process through e-KYC (Electronic Know Your Customer). There is a total of 5 steps to open a trading account:

  • E-KYC Check – Enter PAN Number and Date of Birth to get all your information from the integrated KYC database.
  • Profile Creation
  • Bank & Income Information
  • Trading & Product Plan
  • Document Upload
  1. Visit Local Branch or Sub-broker Office

Visit your nearest branch office of a Religare or its sub-broker to open an account. If you call them, they will also schedule a personal visit to your home for account opening.

If you wish to fill a paper form for account opening, you can choose to visit Religare website’s download section and download the PDF form. You could also contact your local branch to arrange a personal visit for account opening and demo of trading platform.

Account Opening Charges

  • Religare Account Opening Charges (Trading Acct): ₹500
  • Religare AMC Charges (Trading Acct): Nil
  • Religare Account Opening Charges (Demat Acct): Nil
  • Religare AMC Charges (Demat Acct): ₹400 from second year onward

The online option of account opening is quite easy and fast. In general, it doesn’t take more than 30 minutes of yours to complete the entire process. Opening a demat account is a quick online process but closing an account is little time consuming in comparison to opening an account. As its offline process, the customer needs to submit physical form to the branch or courier it on mentioned address for account closure.

Religare Securities – Trading Platforms

The full-service broker of India doesn’t leave a single stone unturned to provide seamless trading experience to its clients across all segments. By leveraging new-age technology, Religare Securities offers a number of trading platforms for desktop, browser and mobile.

Now, let’s look at the best trading platforms provided by the stock broker.

  1. Religare Online Web

As its name suggests, Religare Online Web is basically a browser-based trading platform that offers unprecedented levels of ease and comfort to traders and investors. The trading platform can be accessed on any browse on both a desktop or laptop without the need for any installation. The tool is known to have a number of features.

  • Detailed market watch
  • Customized lists
  • Faster and real-time price quotes and trending charts
  • Option to trade from anywhere
  • Intraday data for the last 10 days and historical data available for last 5 years
  1. Religare – Trade On The Go

Trade on the goTrade on the go

Much of it gets clear from the name itself. In order to help investors trade while they’re on the go, Religare Securities has launched a mobile app with the name – On The Go. The mobile app is available for Android and iOS platforms. There is also an installation file that can be downloaded and installed on phones like BlackBerry.  Some of the major app features include:

  • Quicker order placement irrespective of the location
  • Live streaming of quotes that can be customized as per internet speed
  • Personalized market watch
  • Option to track the order book, trade book, market depth, and stock portfolio etc.
  • Advanced charting with market trends, indices, and corresponding indicators
  1. Religare Dynami

Another mobile app offered by the stock broker is Religare Dynami. It is available in both Android and iOS versions. The most remarkable things about it is its simple and neat user interface. Its major features include:

  • Option to trade across multiple segments like Equity, Commodity, and Currency
  • Option to add various watchlists
  • Personalization and customization permitted along with in-app alerts and notifications
  • Single swipe order placement

However, there are certain issues that clients have complained of like:

  • The app gets crashes too often
  • No option for fund transfer
  • Doesn’t work smoothly on some Android smartphones
  1. Equity Odin Diet Application

This trading platform comes in the form of an executable file that needs to be downloaded and installed on a computer system. Though its UI is quite obsolete, the application works really smoothly. Its major features are:

  • Option to trade in equity, commodity, currency, mutual funds, and IPOs
  • Advanced portfolio tracker and live market watch
  • New features like Stock Screener

Religare Securities Review, Customer care & Ratings

In terms of number of customer care touch points, Religare Securities offers various options to get in touch with Religare Customer care.

  • Toll-Free Number
  • Phone
  • Email
  • Physical Branches
  • Web Form
  • Fax
  • Rating

Apart from the toll-free number, Religare Securities does not have any phone or mobile lines for customer communications. The turnaround time taken by the broker to resolve your query may vary from 1 hour to 48 hours depending on the sternness of the issue.

If you think you have been wrongly treated by the broker, Religare Securities, such as any other stockbroker, provides support through its appointed compliance officer.

As far as the overall quality of Religare Securities Customer Care is taken into account, the broker definitely needs to focus more on its turnaround time particularly for clients who are stuck in their trades due to a concern in any of the trading platforms or order execution in general.

Religare Securities Pricing

The brokerage charges and account opening charges by the stock broker are mentioned below.

Account Opening Charges

  • Religare Account Opening Charges (Trading Acct): ₹500
  • Religare AMC Charges (Trading Acct): Nil
  • Religare Account Opening Charges (Demat Acct): Nil
  • Religare AMC Charges (Demat Acct): ₹400 from second year onward

Brokerage Charges

With Religare Securities, the customers need to pay commission for the buying and selling of stocks. The brokerage charges for equity, commodity and currency derivative are given below.

Segment Brokerage Fee
Monthly Fee (Fixed) NA
Equity Delivery 0.50% to 0.10%
Equity Intraday 0.050% to 0.010%
Equity Futures 0.05%
Equity Options ₹70 per lot
Currency Futures   0.05%
Currency Options ₹30 per lot
Commodity Futures  0.05%
Commodity Options ₹30 per lot

 

Demat Account Charges

Sr Services Charges
1 Account Opening Charges Nil
2 Annual Maintenance Charges (AMC) ₹400 p.a.
3 Credit Nil
4 Debit
Delivery Given to Religare Pool/Margin Account ₹12 for Client with POA / ₹25 for Client without POA
Delivery Given to any other Account ₹30 per debit or 0.02% of the value of transaction whichever is higher
5 Demat Processing Charges ₹2 per certificate
6 Conversion of Mutual Fund units represented by SOA into Demat ₹20 per request
7 Courier Charges for Demat/Remat/Repurchase/ Redemption ₹30 per request
8 Conversion of Mutual Fund units represented by SOA/Reconversion of Mutual Fund units into SOA ₹30 per request
9 Demat Rejection Charges ₹30 per rejection
10 Rematerialisation/Repurchase/Redemption of Mutual Fund/Reconversion of Mutual Fund units into SOA Charges ₹20 per request + NSDL Charges
11 Pledge Creation/ Closure/ Confirmation/ Invocation ₹50 per request or 0.02% of the value of securities whichever is higher
12 Freeze/Unfreeze Instruction ₹50 per request
13 Delivery Instruction Booklet ₹1 per leaf

 

Transaction Charges

Segment Transaction Fee
Equity Delivery 0.0037%
Equity Intraday 0.0037%
Equity Futures 0.004%
Equity Options 0.06% on Premium
Currency Futures 0.004%
Currency Options 0.06% on Premium
Commodity 0.0035%

 

Religare Securities Margins

Trading Segment Margin Religare
Equity Delivery Upto 4x with 24% interest per year
Equity Intraday Upto 10x
Equity Future Upto 3x
Equity Options Upto 3x for shorting
Currency Future Upto 2x
Currency Options 2x for shorting
Commodity Future Upto 3x
Commodity Options

 

Religare Securities – Account Types

Religare Securities offers its clients to pick from a wide variety of financial services through its cultured and customized trading platform known as R-ACE (Religare Advanced Client Engine). Given below are 3 types of R-ACE accounts ready for use by its investors.

R-ACE (Basic): R-ACE (Religare Advanced Client Engine) is an elementary online trading account given by Religare. This is ideal for clients who do not prefer to install or download any software on their computers. Customers can choose to seek information about their account both online as well as through phone calls.

R-ACE Lite (Advanced): R-ACE Lite is the advanced trading platform, which boasts of all the features as offered by R-ACE (Basic) account. Above all, it also provides real-time streaming stock quotes and alerts. This account also features a browser-based online trading platform. Thus, there is no need to install any additional software.

R-ACE Pro (Professional): As the name suggests, this account is known to carry out high-value trading and meant for high volume professional traders. Apart from the features mentioned above, it also comes with a Trading Terminal Software which needs to be installed on your computer.

This terminal connects the investor directly to the stock market and is loaded with all industry standard Trading Terminal features such as technical charting (intra-day and EOD), multiple watch list, advanced hot-key functions for faster trading, derivative chains, futures & options calculator etc.

Religare Online Research

This full-service stockbroker enables detailed research at both technical and fundamental stages to its clients depending on their preferences.

In other terms, investors will be given with both Intraday calls and research reports on a daily basis through email, SMS. These references can be availed through the different trading platforms provided by the broker via the ‘Research’ tab.

As per the broker claims, this is what it does in the research segment:

  • Includes more than 30 listed companies under its fundamental reports (from a competition perspective, the number is very less since there are a few brokers covering more than 150 stocks on a regular basis).
  • The broker claims to have offered more than 150 intraday calls with a success rate of 65% (again both the numbers depicted here – no. of calls and the corresponding precision percentage are quite average).
  • More than 200 positional calls with a success rate of 61%.

In general, it can be determined that Religare Online cannot be considered among the top stockbrokers in research in the country for sure.

The Conclusion

Religare Securities is considered one of the top-rated full-service stock brokers in the country. It offers a multitude of trading and investment products to its clients through its various trading platforms.

Whether you’re a novice investor or an experienced one, the research reports provided by Religare Securities are quite helpful for you in making sound investment decisions. In short, these various elements work together to ensure a seamless trading experience.

If you ready to pay high brokerage and have enough patients to face average customer service, Religare Securities is the name you can choose to go with.

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