Monday, April 23, 2007

Reliance online trading

Reliance Money, ADAG has stepped into the online trading ring and has had the predictable effect of setting the cat among the pigeons. Their USP is two fold - the concept of prepaid trading cards and rock bottom brokerage.

The current leader here, ICICI charges anywhere between 0.5% to 0.75% as brokerage plus a yearly service charge. They are pretty good, having overcome many teething troubles like a slow server, overloading etc. Their charges are on the higher side though. Service, personally, has not been great. Just passable.

Most of those who use online trading portals expect a better level of service than what is given today. The online portals are far better and reliable than the physical world where the brokers had a field day. (If the market rose, your order miraculously never got executed and if it fell, it always went through - and then some).

Will Reliance ADAG change the game here? Unlike low cost airlines or low cost phones, the low cost online trading may not necessarily attract low end customers. First, a high level of awareness is needed here also, access to physical infrastructure like the internet - which is never free is also required. The synergy is there, if Reliance Infocomm, another ADAG venture can get some of the bandwidth (literally) and facilities (like their Webworlds, phones) onto this bandwagon. They are the only persons who are neither a bank or a trading firm (true, they are into mutual funds etc.).

There are those who feel that Reliance is messing the industry - I think it is a disruptive model and such models are needed if the industry has to move to the next level. Lets wait and watch.


Neo said...

thnks for the info..i will look forward to the new service offering.

and agree at being disruptive

Biby Cletus said...

Nice post, its a really cool blog that you have here, keep up the good work, will be back.

Warm Regards

Biby Cletus - Blog

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