Reliance Money, one of the largest distribution and broking brands, today launched its new product for customers that allow unlimited equity trade for a fixed fee.

Mr Vikrant Gugnani, Executive Director, and Mr Kapil Bali, CEO, Retail Broking, RSL, at a joint press conference, said the new product, which is being offered by Reliance Securities Limited (RSL), was unveiled here today for the first time in India.

They said ‘This is the first of its kind product available in the Indian broking industry. The new offer allows all traders and investors to cap their brokerage expense while offering them unlimited trade option through our platform.’ ‘This is also in line with our strategy to offer competitive pricing and convenient brokerage options for our investors,’ they added.

The product, priced at Rs 6,000 for three months, offers unlimited delivery trading and margin trading turnover and is available to new customers.

‘This product is aimed to provide huge price advantage -- upto 25 to 50 per cent of brokerage -- to aggressive investors and traders who easily end up spending much more on other platforms,’ they claimed.

UNI