Anil Ambani Group’s (Adag) Reliance Money has become the world’s most cost-effective broking company in the world, despite India being dubbed among the most expensive markets in terms of transaction costs.
Indian bourses, one of the best performers of the world, are more expensive than a number of markets like the US, UK, Japan and even Russia and Brazil. According to a survey conducted by Elkins/McSherry, the average brokerage charge for delivery-based trades in India is around 30 basis points, while the total transaction cost is about 51 basis points after including charges like stamp duty and service tax. Rel Money’s brokerage is about one basis points— the world’s lowest, and the total cost after including the market impact charges works out to be about 15 basis points. Rel Money, in just 6months, got over 2.5 lakh customers and its average turnover is over 2% of the total turnover in the country.