Reliance Money has launched mobile trading app for trading in both equities and commodities across all mobile platforms independent of device, operator, and the underlying carrier technology.
Reliance Money user can access the site through a GPRS or CDMA-enabled mobile phone can log in to the Reliance Money website using the existing user id and security token number and trade in equities and commodities. This platform works on over 6000 different mobile phones – source
Reliance Money, when it was launched in 2007 stoked price war in the brokerage service (with flat fee/free trading account) and the mobile route will surely give them an edge over competition (other services mostly offer stock quotes/alerts etc, but not transaction).
Mobile is an important play in the trading market and even though GPRS penetration is low in India, people are willing to pay for services (be it in terms of data download or subscription services like stock alerts) that deliver value (for example: Moneycontrol’s mobile application grabbed 1 Lakh users within 1 month of launch).
What’s your opinion?
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