Table of Contents
Religare Review: Religare Pros
Religare Review: Religare Cons
Religare Review: Religare Account Types
Religare Review: Ease of Opening Religare Account
Religare Review: Religare Margin Exposure
Religare Review: Religare Charges
Are you looking for a comprehensive Religare Review? Religare Securities is a SEBI registered financial service provider in India. As part of Religare Enterprises Limited, it offers a wide range of products including equity, mutual funds, derivatives, commodities, currencies, depository services, and SIP. With over 1500 offices, it is a member of NSE, BSE, and MCX, providing online access to secure Demat Account services. Check out our Religare Review and find out all about the pros, cons, charges and more about the broker in India.
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Religare Review: Religare Pros
Here are a few of the many Religare advantages:
- Religare provides a margin against shares facility for trading using your existing demat holdings.
- Also, you can avail a lifetime AMC-free account by making a one-time payment of Rs 2500.
- Its platform offers research recommendations and powerful research tools to assist you.
- Religare lets you fund your account by simply dropping a check at its branch.
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Religare Review: Religare Cons
Religare is not without its share of disadvantages. The charge for Call and Trade is Rs 10 for every executed order, with a maximum of Rs 50 daily within a segment.
Religare Review: Religare Account Types
Religare provides a comprehensive 2-in-1 account package to its customers, encompassing a demat account and an online trading account. Its 2-in-1 online trading account goes beyond conventional offerings, providing customers with instant trading capabilities through mobile app, web, and phone channels. This allows for seamless and convenient trading experiences across various platforms.
The demat account enables customers to securely hold their securities in electronic form. The trading account is an essential requirement for customers who wish to engage in buying or selling shares on stock exchanges.
Religare Review: Ease of Opening Religare Account
In order to engage in stock or commodity trading on the exchanges in India, individuals require a trading account. Religare provides a convenient option by offering a combined trading and demat account, facilitating seamless transactions between these two accounts.
There are two ways to open an account with Religare:
- Online Account Opening: This is the quickest and most preferred method, taking only a few minutes to complete. Furnish your PAN number, and the majority of your customer information will be retrieved automatically from centralized eKYC systems and entered in the form.
- Visit a Religare Branch: As an alternative, you can also visit a Religare branch or contact the broker to arrange for the collection of a form from your home.
Religare Review: Religare Margin Exposure
Religare offers different margin requirements and leverage options for different trading segments. For intraday trading in stocks, the margin provided by Religare is up to 20% of the trade value, allowing for a maximum leverage of 5 times.
When it comes to intraday trading in the equity, currency, and commodity futures and options (F&O) markets at BSE, NSE, and MCX, Religare provides a margin of 1.3 times the required margin for holding positions (NRML margin).
However, this margin is not applicable to carry forward positions in F&O or equity delivery trades. For equity delivery trades, the margin requirement is 100% of the trade value, without any leverage.
- Equity Delivery: You can leverage 100% of the trade value, which means you can trade with the same value as your available equity.
- Equity Intraday: You can leverage up to 20% of the trade value, allowing you to trade with five times the available equity.
- F&O: You can leverage 100% of the NRML margin (Exposure + Span), giving you the ability to trade with the same value as your margin requirement.
Religare Charges
When opening a trading account, there is a one-time charge of Rs 500. However, there is no annual maintenance charge (AMC) associated with the trading account.
On the other hand, there are no charges for opening a demat account, but starting from the second year, there is an annual maintenance charge (AMC) of Rs 400 for the demat account.
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Religare Brokerage Charges
The brokerage fee structure for different segments in the Religare My Saver Online Plan is as follows:
- For equity options, there is a charge of Rs 70 per lot.
- For equity futures, the fee is fixed at 0.05%.
- For equity intraday trading, the fee ranges from 0.050% to 0.010%.
- For equity delivery, the fee ranges from 0.50% to 0.10% of the transaction value.
- For currency options and commodity options, there is a charge of Rs 30 per lot.
- For currency futures and commodity futures, the fee is 0.05% of the transaction value.
Religare Demat Account Charges
- The charges for opening a Demat account are Rs 500. Transaction charges for buying and selling are applicable but not specified. For delivery given to a Religare Pool Account, the charges are Rs 15 for clients with POA Religare and Rs 25 for clients without POA Religare.
- For any other account, the charges are either Rs 30 per debit or 0.02% of the transaction value, whichever is higher.
- The Religare Annual Maintenance Charges (AMC) are Rs 300 per annum for clients opting for a digital statement and Rs 400 per annum for clients opting for a physical statement.
- The Religare Demat and courier charges are Rs 2 per certificate plus Rs 30 for courier charges.
- The Religare Remat charges are Rs 20 per certificate plus CDSL charges and Rs 30 for courier charges. Pledge creation, confirmation, and invocation charges are Rs 50 per request or 0.02% of the value of securities, whichever is higher. There are no charges for failed transactions.
- Other charges include Rs 30 per rejection for Demat rejections and Rs 1 per leaflet for a delivery instruction booklet.
Religare Transaction Charges
The fees for different types of trading are as follows:
- For equity delivery and intraday trades, the fee is 0.0037% of the transaction value.
- For equity futures and currency futures, the fee is slightly higher at 0.004%.
- When trading equity options or currency options, the fee is 0.06% based on the premium.
- Finally, for commodity trading, the fee is 0.0035%.
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Conclusion
So that was our Religare review. Overall, Religare provides a convenient and accessible platform for trading and investment in India. This is a registered broker bridges the gap between financial services and spiritual well-being. Its innovative approach to incorporating faith-based values into investment strategies has garnered attention and appreciation. If you are seeking meaningful and holistic financial solutions, Religare can match your expectations easily.
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