Religare Broking Review

Category: Reviews | Author: Trading Brokers | Date: October 9, 2023

Religare Broking is an online broker that was founded in 1986 and is based in India. It offers various trading services, including equity, derivatives, commodities, and currencies, and is regulated by various authorities, such as the Securities and Exchange Board of India (SEBI), the National Stock Exchange of India (NSE), and the Bombay Stock Exchange (BSE). It claims to provide a range of trading platforms, tools, education, markets, and account types for traders of different levels and preferences. However, not all brokers are suitable for every trader, and some may have hidden charges, poor customer support, or limited features. Therefore, it is important to conduct a thorough and unbiased review of any broker before deciding to trade with them. In this article, we will review Religare Broking and provide our verdict on whether it is a reliable and trustworthy broker to trade with.

Pros & Cons

  • Regulated by multiple authorities in India
  • Offers various funding options with low minimums and no charges
  • Offers various trading services, platforms, tools, education, markets, and account types
  • Has a strong presence in the Indian market
  • Has a dedicated research team
  • Has received some negative feedback from customers
  • Charges a high brokerage fee for equity delivery
  • Lacks transparency and information on the website

Summary 

Religare Broking Review

Religare Broking Review

Religare Broking is an online broker that has been operating in India since 1986. It offers various trading services, such as equity, derivatives, commodities, and currencies. It is regulated by multiple authorities, such as the Securities and Exchange Board of India (SEBI), the National Stock Exchange of India (NSE), and the Bombay Stock Exchange (BSE). It aims to provide a range of trading platforms, tools, education, markets, and account types for traders of different levels and preferences. The broker’s website offers a user-friendly interface and a wealth of information on trading basics, technical analysis, and fundamental analysis. The broker also hosts webinars, tutorials, and articles on trading strategies and market analysis. Religare Broking supports trading in various markets, including equity, derivatives, commodities, and currencies. Our assessment highlights Religare Broking’s experience and expertise in the Indian market, but as always, understanding the associated risks is crucial.

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Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Religare Broking is an online broker that is registered with various authorities in India, such as the Securities and Exchange Board of India (SEBI), the National Stock Exchange of India (NSE), the Bombay Stock Exchange (BSE), the Multi Commodity Exchange of India (MCX), the National Commodity & Derivatives Exchange Limited (NCDEX), and the Central Depository Services Limited (CDSL). It is also registered with SEBI as a stockbroker, depository participant, and research analyst. Its SEBI registration number is INZ000174330.

These authorities are responsible for ensuring the fair and transparent functioning of the securities market in India, protecting the interests of investors, and enforcing the rules and regulations for brokers and intermediaries. The advantages of trading with a SEBI, NSE, BSE, MCX, NCDEX, and CDSL-regulated broker are manifold: safeguarding client funds through segregation from the broker’s own funds, providing a cover for client funds up to INR 15 lakhs in cases of broker default, conducting regular audits and inspections to ensure compliance and transparency, enforcing ethical conduct and professional standards, and providing a robust mechanism for resolving complaints and disputes. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

Religare Broking offers various trading platforms, including RMobile Xpress, R-Fast, and R-Web. These platforms offer features such as real-time quotes, charting tools, research and analysis tools, and advanced portfolio trackers.

RMobile Xpress is a mobile trading app that allows traders to access the markets anytime and anywhere. It supports trading in equity, derivatives, commodities, and currencies. It also provides live market updates, news alerts, and recommendations. Traders can also view their holdings, positions, orders, and trade history on the app.

Religare Broking Trading Software

Religare Broking Trading Software

R-Fast is a desktop trading platform that offers a fast and secure trading experience. It supports trading in equity, derivatives, commodities, and currencies. It also provides advanced charting features, technical analysis tools, and market scanners. Traders can also customize their trading interface, create watchlists, and set alerts on the platform.

R-Web is a web-based trading platform that can be accessed from any browser. It supports trading in equity, derivatives, commodities, and currencies. It also provides research reports, market news, and portfolio trackers. Traders can also place orders, modify orders, cancel orders, and view order status on the platform.

In addition to these trading platforms, Religare Broking also offers various trading tools, including stock and mutual fund screeners, trading calculators, and market news and updates.

  • Stock and mutual fund screeners: The stock and mutual fund screeners are tools that help traders filter and select stocks and mutual funds based on various criteria, such as sector, industry, market capitalization, performance, ratings, etc.
  • Trading calculators: These are tools that help traders calculate various trading parameters, such as margin requirement, brokerage charges, breakeven point, profit or loss potential, etc.
  • Market news and updates: These tools provide traders with the latest information and analysis on the markets, sectors, industries, companies, etc. They also provide tips and recommendations from experts and analysts.

Education

Religare Broking’s commitment to educating traders extends to its comprehensive knowledge center, an invaluable resource aimed at enhancing clients’ trading skills and confidence. This knowledge center covers an array of topics relevant to trading in various markets, including:

  • Trading Basics: This section introduces the fundamental concepts and terminologies of trading, such as equity, derivatives, commodities, currencies, IPOs, NPS, etc. It also explains the types of orders, the benefits and risks of trading, and the factors that influence the markets.
  • Technical Analysis: This section explains the use of charts, indicators, patterns, and trends to analyze price movements and identify trading opportunities. It also covers topics such as support and resistance levels, candlestick patterns, moving averages, oscillators, etc.
  • Fundamental Analysis: This section explains the use of financial statements, ratios, valuation methods, and macroeconomic factors to evaluate the performance and potential of a company or an asset. It also covers topics such as balance sheets, income statements, cash flow statements, earnings per share, price-to-earnings ratios, etc.

Religare Broking’s knowledge center also provides articles on various trading strategies and market analysis. These articles offer insights and tips on how to trade in different market scenarios and asset classes.

In addition to web-based learning, Religare Broking also offers opportunities for enhanced learning through webinars and tutorials. These are facilitated by experts and professionals who share their knowledge and experience on various aspects of trading.

Markets

Religare Broking supports trading in various markets, including equity, derivatives, commodities, and currencies. These markets offer a variety of trading instruments that allow traders to speculate on the price movements of underlying assets without the need for direct ownership.

In the equity market, Religare Broking provides access to over 5000 stocks listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE). These include shares of leading companies from various sectors and industries, such as Reliance Industries, HDFC Bank, Tata Consultancy Services, Infosys, and more.

In the derivatives market, Religare Broking offers futures and options contracts on various underlying assets, such as stocks, indices, commodities, and currencies. These contracts enable traders to hedge their risks, leverage their positions, and profit from different market scenarios. Some of the popular derivatives instruments available on Religare Broking are Nifty 50 futures and options, Bank Nifty futures and options, gold futures and options, and USD/INR futures and options.

In the commodities market, Religare Broking offers trading in various commodities such as metals, energy, agri, and bullion. These commodities are traded on the Multi Commodity Exchange of India (MCX) and the National Commodity & Derivatives Exchange Limited (NCDEX). Some of the popular commodities instruments available on Religare Broking are gold, silver, crude oil, natural gas, copper, zinc, cotton, and sugar.

In the currencies market, Religare Broking offers trading in various currency pairs such as USD/INR, EUR/INR, GBP/INR, and JPY/INR. These currency pairs are traded on the NSE Currency Derivatives segment and the BSE Currency Derivatives segment. These segments allow traders to take advantage of the fluctuations in the exchange rates of different currencies.

By offering trading instruments across these markets, Religare Broking enables traders to diversify their portfolio and seize trading opportunities while navigating asset price fluctuations without direct ownership. This comprehensive selection aligns with Religare Broking’s commitment to delivering a versatile and encompassing trading platform.

Accounts

Religare Broking offers various account types, including Basic, Classic, and Elite accounts. These account types differ in terms of minimum deposit, leverage, commissions, and spreads. Religare Broking offers various types of accounts to its customers. Here are some of the accounts offered by Religare Broking:

  • Trading Account: Religare Broking offers a trading account that allows customers to trade in stocks, commodities, options, and mutual funds. The trading account is linked to a bank account, and customers can place orders online or through the phone.
  • Demat Account: Religare Broking also offers a Demat account that allows customers to hold their securities in electronic form. The Demat account is linked to the trading account, and customers can buy and sell securities without the need for physical certificates.
  • Bank Account: Religare Broking maintains client bank accounts with various banks, including HDFC Bank, ICICI Bank, and Axis Bank. The client’s bank accounts are used for the settlement of trades and other transactions.

By offering different account types, Religare Broking enables traders to choose the one that best suits their trading goals and preferences. For more details on the account types, please visit the Religare Broking website.

Funding

Religare Broking offers various funding options, including online bank transfers, debit cards, and UPI. These funding options allow traders to deposit and withdraw money from their trading accounts.

  • Online bank transfer: Traders can use online bank transfers to fund their accounts through net banking or IMPS/NEFT/RTGS. The minimum deposit and withdrawal amount for online bank transfers is INR 1000. The maximum deposit and withdrawal amount depends on the trader’s bank limit. There are no charges for online bank transfers. The processing time for deposits is instant, while the processing time for withdrawals is 24 hours.
  • Debit card: Traders can use debit cards to fund their accounts through a secure payment gateway. The minimum deposit and withdrawal amount for a debit card is INR 5000. The maximum deposit and withdrawal amount depends on the trader’s card limit. There are no charges for debit card transactions. The processing time for deposits is instant, while the processing time for withdrawals is 24 hours.
  • UPI: Traders can use UPI to fund their accounts through a mobile app or a QR code. The minimum deposit and withdrawal amount for UPI is INR 1000. The maximum deposit and withdrawal amount depends on the trader’s UPI limit. There are no charges for UPI transactions. The processing time for deposits is instant, while the processing time for withdrawals is 24 hours.

Conclusion

Religare Broking is an online broker that offers various trading services, platforms, tools, education, markets, and account types for traders of different levels and preferences. It is regulated by multiple authorities in India, such as SEBI, NSE, BSE, MCX, NCDEX, and CDSL. It also has a strong presence in the Indian market, with over 500 branches across the country. It also has a dedicated research team that provides insights and analysis on various asset classes and market trends. Moreover, while Religare Broking offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

Religare Broking LogoReligare Broking Logo

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Religare Broking is one of the leading stock broking houses in India that offers a wide range of financial products and services to its customers. Religare Broking provides online and offline trading platforms, research and advisory services, portfolio management, and depository services.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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