Reliance Capital enters retail broking space

Reliance Capital today announced its foray into the brokerage business through Reliance Money, which will offer 'fixed' flat fee structure.

According to company it is offerng the cheapest rate of brokerage in the country.

The other main players in the retail brokerage business right now are ICICI Direct, Kotak Securities, Indiabulls Financial Services, India Infoline, Sharekhan and Motilal Oswal Securities

Reliance Money, promoted by Anil Dhirubhai Ambani Group firm Reliance Capital, would offer the brokerage services across 700 cities including Delhi and Mumbai through 3,000 outlets.
Investors would need to pay brokerage at the rate of 0.05 per cent for delivery trades and 0.005 per cent for non-delivery trades (fixed fee of Rs 500 for delivery trades up to Rs 10 lakh and/or non-delivery trades up to Rs 1 crore), the company said.

Following is the Web site of the company offering online trade and other information

http://www.reliancemoney.com/

Industry rates vary between 0.4 per cent to 0.85 per cent for delivery trades and between 0.05 per cent and 0.10 per cent for non-delivery trades, it added.

Reliance Money consumers can trade in equities, commodities and offshore investments, IPOs, mutual funds besides insurance, money transfer and money changing - all through single window, both off-line and online.

So any body who is looking for lesser brokerge can surely open an account with it and avail the facilities being offered.