Reliance Money Mobile Trading – Initial Impressions!

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Reliance Money has recently introduced mobile trading. Following reports can be accessed apart from mobile order placement.

Equities
A registered user of Equities trading on Reliance Money can login to Equity Login on mobile using his trading username, password and security token. On the equity home page the client has to select the Trade Now option to start trading. Client will have the option to trade in Equity and Derivative segment.
Equity Segment: On clicking the equity option the client will be directed to the order form page. By default BSE exchange is selected. To place an order in NSE client will have to select NSE exchange.
BUY/SELL

  • To Buy/Sell any scrip, user can enter first three letters of the scrip name and click on ‘Get Scrip Code’ button to select the scrip for buying or selling.
  • The Buy/Sell form is pre-filled with the default information for the selected scrip.
  • The price quotes get updated by clicking on the Refresh button.
  • Client can place Limit, Market or Stop Loss order.


Equity Reports
User can view the following reports:

  • Order Book - To view the trading orders placed by the client on the current date.
    • Modify: User can select a ‘Pending’ order from his Order Book and edit the details to modify his previous Buy/Sell transaction to a new one.
    • Delete: User can select a ‘Pending’ order from his Order Book and cancel his previous Buy/Sell transaction.
  • Trade Book – To view the Traded orders of customer for the current date.
  • Today’s Positions – A report which displays all the day’s open positions of the client. Square off order can be placed for these open positions.
    • Square Off: User can select any Open Position from the report and place a square off order.
  • Ledger Balance – To view the available and blocked margins of the client.
  • Demat Allocation – To view the demat holding of the client and place sell sell orders by selecting the scrip to be sold.
  • ATST Projections – Scrips bought on T-1 and T day are visible in this report. Client can place sell orders if the scrip is available in ATST basket.
  • Limit Card – Displays the last 20 records of limit card transactions of the client.
  • Ledger Report – Displays last 20 records of the client’s settlement ledger.
  • Portfolio Management System – Displays the demat holding of the client with the last traded price.

Derivatives Segment:
On clicking the derivative option the client will be directed to the order form page. By default Futures is selected. To place an order in Options client will have to click on the Options link.

  • BUY/SELL
    • To Buy/Sell any scrip, user can enter first three letters of the scrip name and click on ‘Get Scrip Code’ button to select the scrip and month for buying or selling. Options orders can also be placed in the similar manner.
    • The Buy/Sell form is pre-filled with the default information for the selected scrip.
    • The price quotes get updated by clicking on the Refresh button.
    • Client can place Limit, Market or Stop Loss order.


Derivative Reports
User can view the following reports:

  • Order Book - To view the trading orders placed by the client on the current date.
  • Modify: User can select a ‘Pending’ order from his Order Book and edit the details to modify his previous Buy/Sell transaction to a new one.
  • Delete: User can select a ‘Pending’ order from his Order Book and cancel his previous Buy/Sell transaction.
  • Trade Book – To view the Traded orders of customer for the current date.
  • Open Positions – A report which displays all the current and previous open positions of the client. Square off order can be placed for these open positions.
    • Square Off: User can select any Open Position from the report and place a square off order.
  • Ledger Balance – To view the available and blocked margins of the client.
Initial Impressions
  1. It can be used to place orders while you are on move and have no PC and internet access
  2. Day traders can’t profitably use this facility as it is very slow and market watch facility is not enabled for equity and derivatives
  3. Still you can’t change your passwords as the system shows error
  4. Some times the status of your placed orders are   shown as “in process” throughout the day. In that stage you can’t modify or cancel your order and also you will not be knowing the real status of your order. ( a typical Religare Bug – It is the main reason I have changed the broker from religare  to reliance money)
  5. Overall it is a welcome move.
 
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