Discount brokers are a new breed of brokers in India that offers cost-effective broking services to retail investors and traders. Evidently, RMoney India is an India based discount broker that offers investment and trading services. As a client of RMoney, you will be able to trade or invest in stock listed on both NSE and BSE. Besides trading in commodity and currency is also possible. Furthermore, you can do investments in various other financial instruments too. Financial instruments like mutual funds, debt instruments, and various insurance products. Being that, let us understand a little bit about discount broking services in India.
Why you must look for a discount broker?
We are aware of the fact that digitalization is playing a big role in every sphere of our life. Investment and trading are not aloof of it. As more and more Indians are coming under the umbrella of digital India and becoming tech-savvy, the communication process and need for physical presence are being done away with.
Traditional broking is required where the client need a physical presence, higher trading limits, and personalized dealing. However, digitalization is paving way for lesser direct interactions with your brokers. Discount brokers, like RMoney India, offer services at cheaper prices to the clients who are more tech savvy. Rmoney is committed to offering a blend of full-service broking with discount broking but at the cost of discount broking.
Why RMoney India? – Trade with the leader in the industry
Below are some facts about RMoney India, that you must know as our esteemed client –
- We process more than 1 lac trades in equity segment every day
- RMoney is clocking a growth of 100% year-on-year in equity volumes as on May’15
- The RMoney India contributes approximately 3-4% of MCX daily turnover and this brings us among top 10 brokers on MCX
- Over approximately 8% of NCDEX daily turnover by RMoney India brings us among top 5 brokers on NCDEX
- We are among the few brokers having advanced CRM technology platform like Talisma & Drishti
- RMoney India is having 10 years of success & more than 100 years of cumulative experience of the core team in financial services
- We are the winner of the prestigious NCDEX Krishi Pragati Awards’ 2017
- RMoney is the winner of Commodity Broker Of the Year ‘2016-2017’ from MCX exchange
- The RMoney India is the winner of the prestigious Times of India Brand Excellence Award 2015 in financial services
- We won of Star Key Partner Award from HDFC mutual funds
- Winner of Super Achievement Award from IFFCO-Tokio general insurance
Key advantages of RMoney India as a zero discount broker
The following are the important features that RMoney India offers and make it a unique discount broker of India –
1. Fastest and hassle-free account opening
- Only one working day account opening process with us.
- We offer lifetime free demat account to all our clients
2. No account opening charges
- We do not charge anything for opening account with us. It simply means we have zero account opening charges.
- What’s more demat AMC (annual maintenance charges) too is completely free.
3. No funds transfer charges
- We do not charge anything for funds transfer to and fro from us. This means funds transfer both ways are completely free.
- We have transparent pricing plans with no hidden charges at all.
- Other zero discount brokers might charge you for all funds transfers (as hidden charges) while offering zero brokerage plans.
4. Flexible brokerage plans to suit frequent trader and seasoned investors
- Besides all the features of zero discount brokers, we also have full-service brokerage plans. Both the plans under the same roof and under the same brand.
- Full-service brokerage plans are available to customers who are looking for customized services leading to personal assistance and investment guidance.
- What is more interesting is that you can easily switch from one plan to other hassles free.
5. Lowest brokerage and other charges
- Trading in equity delivery is completely free of cost under zero brokerage plan. Thus, you do not have to pay any brokerage on orders in equity cash and carry segment.
- We charge flat INR 18 per trade brokerage for all other segments.
- We help you save on your brokerage charges to increase profit margins on all your trades.
- Personalized dealer services without call and trade charges
- We provide a personalized dealer and moreover, Call and trade facility is completely free of any charges.
6. Higher limits to all clients
- We offer higher trading limits to our zero brokerage clients. You can place both bracket order and cover orders as per your daily trading requirements.
- We also offer flexible intraday trading limits in case required. Thus, day traders have a privilege for the intraday limit on demand.
7. Short selling possible with us
- Yes, we do offer short selling. As a client of RMoney, you have the leverage to do intraday as well as overnight short selling.
- In equities, you can do only intraday short selling. But in equity future and option segment you can carry forward your intraday short selling to overnight as well.
- Similarly, in commodities, you can do both intraday and overnight short selling at both MCX and NCDEX.
8. Trade with advanced technology free of cost
- Speed matters while trading. So we offer a trading platform embedded with the latest technology in the field. With us, you will be able to place your orders on time error free. This will also help reduce your cost of trading.
- RMoney India provides ultrafast trading software with advanced charting features. You must note that there are no hidden conditions or minimum brokerage criteria at all.
- We offer our online trading software free of cost to all our clients. Trading software includes web trading terminals, desktop, and mobile trading applications.
- Basically, ODIN is our trading platform. Further, we have a customized trading app, Money QUICK.
9. Do your own research before trading or investing
- With RMoney India market intelligence it is possible that you do your own research. It is always good to deep dive into where you are putting your money. Also, lots of things to screen before trading in any scrip or indices. Market intelligence section on our website will help you do all in one place.
10. 24*7 customer support
- We value our customer. So we are committed to serving them better and better. Thus we offer customer support throughout the working timings. Even if you have any queries beyond working hours do not hesitate to contact our customer support.
11. Personalized support system
- We have trained dealers. You can avail the services of such trained personal dealer for all your trading needs.
- If you are into commodity trading, this is for you. We have evening dealer support for commodities trading.
- RMoney India offers customer support with definite TAT resolution. TAT stands for ‘turn around time’. It is the actual time taken to complete any of the request raised by you. This is intact ‘timeliness’ and ‘completeness’ measure by the management to serve the customers within a prescribed time limit.
- Your call can land on the same dealer every time which is a part of our personalized customer support system. Moreover, there is no need for your identification every time you make a call to us. All clients call lands directly at the dealer desk for your support.
12. Multiple investment products under the same umbrella
- With us, you can trade in equity, futures & options, commodities & currency derivatives, all at a single platform. However, that’s not the end. You can also apply for an IPO or invest in mutual funds and insurance products online, bonds & corporate FDRs with RMoney too.
- Further with us, you can enjoy discount brokerage without discounting the services.
- You will experience the power of state of the art mobile trading application, personalized trading support & flexible trading margins.
What makes RMoney India discount broking plans unique?
Under zero discount broking plan, the account opening charges are fixed INR 399 for equity and INR 199 for the commodity. However, if you choose to open the account online with us, you get an opportunity for a discount of INR 200 for equity and INR 100 for the commodity segment. Furthermore, if you opt for INR 399 plan, you will also get a free lifetime AMC on your demat account.
Moreover, we also offer Brokerage Credit Scheme. In the case, if you are an online client, there is a Brokerage Credit Scheme of INR 399 (Equity) or INR 199 (Commodity ) with a validity of 45 days. Thus, when you start trading or investing with us and the amount of brokerage you pay in the next 45 days, we will refund the amount more than the account opening charges paid by you.
Besides, there is a Money Back Challenge as well, Under this, if you claim a refund of your account opening charges (AOC) on account of poor services or delivery, we shall refund the AOC of INR 199 or INR 99 (minus advance brokerage if any already refunded to the client).
What is ADDvantage?
ADDvantage is a client referral program of Rmoney India. If you plan to associate with us as a client you will not only get benefits like zero account opening fees, lifetime zero demat AMC and free call and trade, there is a unique proposition also. We are running a bunch of customer referral programs under ADDvantage.
We have designed ADDvantage in such a way that all stands in a win-win situation. You, friend, family or colleague get a lifetime free account and you will earn referral incentives. At the same time, we get a valued client.
When you refer to any friend or family members to us, you will get the benefit of this unique referral program under ADDvantage. With every verified referral, you will get INR 50. Even if your referral does not open an account with us, you will get this benefit. The only condition is that the referral should be correct.
Further, to this, if your referral opens an account with us and associates with us, you will get additional benefit. You will receive INR 250 for every new account opening through your reference. Additionally, we will also share 10% of brokerage for every trade initiated by your reference account holder
The final verdict – Why trade with RMoney India?
To sum up, most of the brokers in India charge commissions based on a specific percentage of trading transaction values. However, RMoney, as a discount broker charges a flat fee per trade, irrespective of total trade value. Furthermore, RMoney provides high tech and most advanced trading platforms. You must also note that we do not push our clients to initiate any transaction just to make a commission out of it. We always value for value investing and informed trading decisions of our clients. So we provide all support for the same as well. Last but not least, we in general target young audience. Above all, we do provide trading and investment related educational content and materials for free through our blogging section on the website.