I have experienced many online brokerage services, and I can easily identify the worst among them. Yes it is our overrated Reliance money. The whole trading experience sucks.
Strarting from the login, You would need to have their random number generater whenever you need to login, and trust me, if you have not done anything for 5-10 minutes, you need to re-login evertime. I think two password system is much more efficient(and convenient), where you would have one website password and one trading password.*
*After you login, you would see their website, which can not store any information about past. Whenever you want to buy any stock, you have to find it’s id again and again. After placing order, it is very hard to find, whether the order is executed or not. The portfolio manager service does not work, neither the ECN service. They are giving ads on moneycontrol that they will introduce portfolio manager service for all money control users, but still reliance money users are suffering, what a joke.
If you come to their trading specific software, the INSTA TRADE, again getting the award for the worst software by big margin. The realtime data is delayed by almost 2 minutes and it hangs a lot. The charting service is poor too.
If you have not had it yet, go to Customer service, which is againg getting the award for worst. First of all they will not reply to your mail, There is online traking option for your problem, which does not work at all. If you are lucky and get to customer service, they dont have enough skills to resolve your problems and will try to delay things.
Finally, I thought that it is reliance, so will improve some day in future, however it seems like anil is more interested in generating power than to keep name and goodwill generated by dhirubhai. There is a dedicated software team for reliance money, which does not work at all. Since last 8 months I have seen 0 improvement. I have lost hope for the reliance money and stopped trading, as this service is not ment for trading.
ADDED Later On
They dont provide margins against shares, which is a big issue, as you need to put cash in order to tread in F&O.
They have been saying that they are working on some portfolio software since last 8 months, and still not even released basic portfolio tracking software.
Recently They have some bug in their website, So no one can open their ECN(contract notes) from website.(It sucks, you never know what you bought or sold)
You can not track multiple stocks from their website.
The only request I can do to Reliance Money team, If they bother to even read, Please go through all your competiter’s softwares and use them for 2-3 days, you will find out that how much you guys suck.