The first point to be noted when comparing the two is that Religare is a full service broker while MyValueTrade is a discount broker.
MyValueTrade requires no fees for opening a trading account while Religare requires you to pay Rs.500. Religare charges no fees for opening a Demat account and only Rs.300 for its annual maintenance whereas MyValueTrade charges Rs.555 for opening a Demat account and another Rs.400 for its annual maintenance. But MyValueTrade compensates for all these as it charges only Rs.10 each as Equity Delivery charges, Equity Intraday charges, Equity Future Charges, Equity Options charges, Currency Futures Charges, Currency Options charges, and Commodity charges whereas Religare charges 0.5%, 0.05%, 0.05%, Rs.70 per lot, 0.05%, Rs.30 per lot and 0.05% respectively. The minimum brokerage charges for MyValueTrade are nil while it is Re.0.01 per share for Religare.
The transaction charges for both the firms are almost the same except for currency options and commodity, on which MyValueTrade charges negligibly higher than Religare. The charges of MyValueTrade are generally considerably much lower than that of Religare.
Religare uses Odin Diet as its trading platform while MyValueTrade uses MVT Trader. Both traders accept orders after trading hours and both offer 24×7 customer care services.
|Basic Information||Type of Broker||Full Service Broker||Discount Broker|
|Exchanges||BSE, NSE, MCX & NCDEX||BSE, NSE, MCX|
|Fees for Opening Trading Account||Rs. 500||Nil|
|Annual Maintenance Charges of Trading Account||Nil||Nil|
|Fees for Opening Demat Account||Nil||Rs. 555|
|Annual Maintenance Charges of Demat Account||Rs. 300||Rs. 400|
|Brokerage Charges||Equity Delivery Charges||0.50%||Rs. 10|
|Equity Intraday Charges||0.05%||Rs. 10|
|Equity Future Charges||0.05%||Rs. 10|
|Equity Options Charges||Rs. 70 per lot||Rs. 10|
|Currency Futures Charges||0.05%||Rs. 10|
|Currency Options Charges||Rs. 30 per lot||Rs. 10|
|Commodity Charges||0.05%||Rs. 10|
|Minimum Brokerage Charges||Re. 0.01 per share||Nil|
|Transaction Charges||Equity Delivery||0.00%||0.00%|
|Equity Options||0.06% on Premium||0.06% on Premium|
|Currency Options||0.06% on Premium||0.042% on Premium|
|Acceptance of Orders After Trading Hours||Y||Y|
|Trading Platform||Odin Diet||MVT Trader|
|Investment Services||Stock/ Equity||Y||Y|
|IPO (Initial Public Offers)||Y||N|
|Customer Support||24/7 Customer Support||N||N|
|Online Live Chat||N||N|
|Reports||Daily Market Report||Y||N|
|Quarterly Analysis of Results||Y||N|