Religare Broking Ltd (RBL), founded in 1986, is a part of Religare Enterprises Limited (REL), a leading diversified financial services headquartered in New Delhi. To provide online trading services in various segments, Religare Securities is an active trading member of exchanges such as the BSE, NSE, MCX, and NCDEX. Read this Religare Securities Review to Know about their Trading, Insta & Demat Account, Brokerage Charges, Plans & more.
RBL has over 1 million customers in over 400 cities in India through various branches and franchisees. They promise that they provide excellent research insights as well as numerous advanced analytical tools for profitable online stock trading via many of their online trading platforms. Religare as a group, seeks to serve every market sector, from mass retail to wealthy, HNIs, mid-size corporates, SMEs, and major corporates and institutions. The Religare group has over 1450 branches and sub-branches across India.
Products & Services offered
Here is the list of trading services by Religare Online:
- Equity
- Mutual Funds
- Derivatives
- Currency and Commodity
- ETF’s
- Insurance (Life and General)
- IPO
- NCD
- Debt/Fixed Income
- National Pension Scheme
- Global Investing
Customer Ratings of Religare Online
| Criteria | Ratings |
|---|---|
| Research & Advisory | 6.80 / 10 |
| Brokerage Charges & Fees | 6.50 / 10 |
| Products & Services | 6.50 / 10 |
| Trading Platform | 6.40 / 10 |
| Broking Experience | 7.00 / 10 |
| Overall Rating | 6.90 / 10 |
| Customer Rating (in stars) | 3.00 / 5 |
Key Strengths of Religare Online
- They provide you with in-depth research tips and recommendations.
- You can also invest in US stocks for free.
- They also provide different services like Tax Information Network (TIN) Services, RTA, Digital Signature Certificates, Demat Accounts, Trading Accounts and Mutual fund distribution.
- Invest in the wealth management solutions SmartInvest (WealthBasket) and SmartInvest (Narolina).
- Access to a diverse range of online trading and investing products.
- A dedicated relationship manager will assist you with all of your trading needs.
Religare Online Account Opening Process
Offline Account Opening Process
To open an account, go to your nearest Religare or its sub-broker branch. You can also get a personal visit from their representative by giving them a call. Also, you can download the account opening form from the website in the download section. You can fill out the form and give it to their nearby branch along with the supporting documents.
Online Account Opening Process
- Go to the Religare website- https://www.religareonline.com/
- Click the “Open an Account” button on the top right side.
- Sign up for free by entering your name, phone number, email address, and city.
- You will receive an OTP for further verification.
- Fill in your PAN number, DOB, and personal information.
- Connect a personal bank account to transfer funds.
- A list of scanned documents should also be uploaded.
- Using the Aadhaar OTP, e-sign the account opening form
- And it’s done! Once your documents have been validated by the Religare Team, you will get a welcome kit via email that includes your Religare account login information.
Documents Required
It is advised that you keep scanned copies of the following documents:
- Aadhar Card
- PAN Card
- Bank proof (Cancelled cheque/Passbook/Bank account statement)
- Cancelled cheque
- Passport size photo
Religare Online Trading Platforms/ Apps
| S.No | Platforms/Apps | Platform Type |
|---|---|---|
| 1. | Religare Dynami Mobile App | App-based |
| 2. | Religare Online Web Platform | Web-based Trading Platform |
| 3. | Religare ODIN Diet Desktop Trading Terminal | Desktop-based |
| 4. | Religare Dynami Wrap Mutual Fund App | App-based |
Religare Dynami Mobile App:
It is one of the easy-to-use and fastest trading platforms that allow you to trade in a variety of markets, including equity, currency, and commodities. The intuitive layout allows traders to take advantage of unlimited market opportunities. The app also offers proactive customization and personalising possibilities to the users, as well as a variety of alerts and notifications. Some of the other top features of the app are quick buy and sell order placing, real-time quotes, portfolio tracking, a smart search bar, instant fund transfer, historic charting, and easy access to reports.
Whether you own an Android or an iOS smartphone, you can download the Religare Dynami stock trading app and begin online trading on the BSE, NSE, and MCX.
Appstore rating: 3.8/5
Google Playstore rating: 4.5/5
Religare Online Web Platform:
Customers of Religare can access the online trading platform to stay up to date which operates through a web-based browser. You can access this platform through a laptop, desktop, or mobile phone. Some of the other features are real-time market data, adding and customising multiple watchlists as per your requirements, 5 years of price history data, interactive charting, you can also manage multiple trading accounts, SMS alerts and email alerts and, it is an extremely flexible app and can work at lower bandwidths as well.
Religare ODIN Diet Desktop Trading Terminal:
is a desktop trading software or terminal that allows you to trade in various segments like equity, derivatives, commodities, currencies, mutual funds and IPO, all on a single screen. The platform includes real-time streaming quotations, easy pay-ins and payouts processes, an advanced portfolio tracker and the availability of research reports. You can also set alerts and get instant market news through the platform.
Religare Dynami Wrap Mutual Fund App:
It is an easy-to-use online mutual fund investment app that allows you to initiate SIPs or invest a one-time lump sum of money on the move. You can monitor all your mutual funds in one place, get all the information on your favourite mutual fund scheme, and get a fund scanner, portfolio tracker and instant notifications. Also, you can invest in more than 30 AMCs, including ICICI, HDFC, Tata, etc. You can get this amazing on your Android and iOS smartphones.
Appstore rating: 3.0/ 5
Google Playstore rating: 3.7/5
Brokerage Charges and Plans
There are two types of account opening plans by Religare-
- Religare ONE- For traders and investors
- Religare ELITE- A personalized plan for their premium customers
Here are the brokerage details-
Religare ONE-
- Zero brokerage charges on Delivery Trades
- Zero brokerage charges on Non-profitable Intraday Trades
- Options Pro Plan- in which you get 3 months of free subscription – The brokerage of Rs. 5 per lot in Options Trading
- Commodity and Currency Options at Rs. 2 per lot
Religare ELITE-
- Brokerage starting with 1 paisa: Turnover-based brokerage plans with brokerage as low as 1 paisa.
- One-Time Account Opening Offer: 1 month Brokerage Free * upto Rs.1000
- A dedicated Relationship Manager will handle all of your investment-related needs.
Account Opening Charges
- Demat Account Opening Charges- Rs. 0
- Trading Account Opening Charges- Rs. 0
- Demat Account Annual Maintenance (AMC)- Rs. 400 (Free for 1st year)
- Trading Annual Maintenance Charges- Rs. 0
In addition to the brokerage fee, the following costs are also levied:
- Turnover/Transaction Charges
- Security Transaction Tax (STT)
- SEBI Fees
- Stamp Duty
- GST
Advantages & Disadvantages of Religare Online
Advantages
- Various organisations have recognised Religare for its superior services and contributions to the industry.
- A dedicated relationship manager will be assigned who will answer all of your questions.
- Religare provides its investors with research and suggestions.
- Fair Deal plan: No brokerage on losses for three months.
- Zero account opening charges and AMC.
- Margin trade facility available.
- You can open an online account easily without any trouble.
- Modern platforms with charting and other capabilities.
- The company provides various discounts on their brokerage plans.
- You can also refer and earn some shopping vouchers and free brokerage.
Disadvantages
- There is no live chat facility.
- Comparatively high brokerage charges.
- They do not offer a 3-in-1 account for trading.
Religare Online Margin Exposure
Here are the margins provided for different segments:
| Segment | Margins |
|---|---|
| Intraday | Upto 6x |
| Equity Delivery | Upto 4x |
| Equity Futures | Upto 3x |
| Equity Options | Upto 3x |
| Currency Futures | Upto 1x |
| Currency Options | Upto 2x |
| Commodity Futures | Upto 1x |
| Commodity Options | Upto 2x |
Final Thoughts
So, in this article, we discussed Religare Securities’ review of their brokerage charges, margin exposure, trading platforms, and products & services. Religare Securities is regarded as one of the country’s best full-service stock brokers. It provides its clients with a wide range of trading and investment products via its numerous trading platforms. . No matter whether you’re a novice or a seasoned investor, the research reports provided by Religare Securities can assist you in making informed investment decisions.
However, the main disadvantage of Religare is the lack of transparency in brokerage. Their brokerage structure is not clear and a little cumbersome. As a result, a consumer might face a problem in this regard.