What RMoney does

RMoney is the consumer brand of Raghunandan Capital Private Limited, an Indian SEBI-registered multi-asset broker incorporated in 2007 and headquartered in Gandhinagar with operations in Agra. The firm serves retail investors and active traders across India through a 315+ Authorized Person/sub-broker network, the rmoneyindia.com website, e-KYC onboarding, and the RMoney Quick mobile application, claiming 103,956+ customers over 18+ years of operation.

The product surface spans equity delivery and intraday trading on NSE and BSE, futures and options, currency derivatives, commodity trading on MCX and NCDEX, IPO applications, direct mutual funds (3,500+ schemes), corporate FDRs, bonds and NCDs, stock SIPs, depository services via CDSL, and foreign portfolio investment facilitation for NRIs/FPIs. Insurance is distributed through a wholly-owned subsidiary, Raghunandan Insurance Brokers Private Limited. The technology stack includes the RMoney Rocket web platform, RMoney Tradion, RMoney Breeze, and the XTS-based Rocket API and XTS Algo Trader for algorithmic execution, with TradingView charts deeply integrated for direct chart-based order placement and a stated ~200ms server latency.

The business model combines a discount brokerage track (Rs 9 per executed order or Rs 999/month subscription) with a full-service advisory track (percentage-based brokerage starting from 0.25%) and interest income from Margin Trading Funding (up to 5X buying power). Additional revenue streams include demat AMC, one-time account opening fees (Rs 499/Rs 199), mutual fund distribution commissions, and insurance brokerage through the subsidiary. Distribution is hybrid — digital self-serve alongside a physical sub-broker channel — and is supported by content-led demand generation (blogs, webinars, YouTube, Telegram, WhatsApp) and a client referral program (Addvantage). The company is privately held with no disclosed funding rounds or external institutional ownership.

Name

RMoney

Legal name

Raghunandan Capital Private Limited

Website

https://rmoneyindia.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

251–500 employees

Short description

RMoney is a SEBI-registered Indian discount and full-service broker offering equity, F&O, commodity, currency, mutual fund, and IPO services to retail investors across India via digital platforms and a 315+ sub-broker network.

Ownership category

akta.pro rank

Product category

Retail Brokerage Services

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Investment Banking and Securities Intermediation (523150), Commodity Contracts Intermediation (52316), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Fee-Based Advisory (FSAEAAAM)

Keywords

• Discount brokerage services
• Online stock trading
• Algorithmic trading platform
• Mutual fund distribution
• Depository services

Headquarters

HQ city

Agra

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Brokerage – Discount Plans: Transaction-fee based brokerage charged per executed order (Rs 9/order) or monthly subscription (Rs 999/month) for retail equity and derivatives trading under the Zero Brokerage Plan.
2. Brokerage – Full Service Plans: Negotiable percentage-based brokerage (starting from 0.25% per trade, 0.025% per lot for options) for clients opting for personalized advisory, dedicated dealers, and extended margin limits.
3. Margin Trading Funding (MTF): Interest income from providing leverage/funding to clients for buying securities, with up to 5X buying power. Clients borrow funds to amplify their trading positions.
4. Demat Account & AMC: Annual maintenance charges for Demat accounts held with CDSL. Some plans offer free AMC as a promotional benefit.
5. Account Opening Fees: One-time fees for opening trading and demat accounts. Demat & Trading Account: Rs 499; Commodity Trading Account: Rs 199. 60-day refund policy.
6. Mutual Fund Distribution: Commission revenue from distribution of direct mutual funds (0% commission model mentioned; may earn from fund houses via valid ARN). Insurance products also offered through Raghunandan Insurance Brokers.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

RMoney is an Indian discount brokerage firm that provides retail investors and traders with multi-asset trading access (equity, F&O, currency, commodity) across NSE, BSE, MCX, NCDEX via proprietary platforms (RMoney Quick, Rocket, XTS Algo, Rocket API). It also offers investment products (direct mutual funds, IPOs, corporate FDRs, bonds/NCDs, stock SIPs) and depository services through CDSL, supplemented by SEBI-registered research, daily reports, and dedicated advisory support. Pricing is structured at Rs 9 per executed order or Rs 999/month under the Zero Brokerage Plan, with a full-service brokerage model available at percentage-based rates starting from 0.25%.

Product overview

RMoney (Raghunandan Money) is an Indian discount brokerage firm offering a multi-platform trading and investment ecosystem. The core offering spans equity delivery, derivatives (F&O), currency, and commodity trading across NSE, BSE, MCX, and NCDEX. The product portfolio comprises: (1) Trading Platforms - RMoney Quick (mobile app), RMoney Rocket (web platform for active traders), RMoney Tradion (mobile/web), RMoney Breeze (advanced web), and XTS Algo (algorithmic trading software); (2) Investment Services - IPO, Direct Mutual Funds (3,500+ schemes), Stocks SIP, Corporate FDRs, Bonds/NCDs, and Depository Services via CDSL; (3) Advanced Tools - Algo Trading with Rocket API (XTS Symphony), Trading View integration for charting, and Advanced Options Trading with strategy builders; (4) Research & Advisory - Daily Research Reports, Dedicated Advisory with NISM-certified dealers, and SEBI Registered Research. The firm operates on both discount brokerage (₹9/order or ₹999/month) and full-service models with personalized dealer support.

Differentiator

Problem solved

Functional benefit

Brands

• RMoney Quick: Fast, hassle-free mobile trading app for one-tap trading
• RMoney Rocket
• Rocket API
• XTS Algo
• RMoney Tradion
• RMoney Breeze
• RMoney Gyan

Products and services

• Stock Trading Equity trading service allowing retail investors to trade in stocks listed on NSE and BSE with discount pricing at Rs 9 per executed order or Rs 999 per month subscription plans under the Zero Brokerage Plan.
• Future & Options (F&O) Trading

Quantifiable outcome

• Save Rs 10,000+ brokerage per month vs. traditional brokers under the Zero Brokerage Plan
• +3 more outcomes

Named customers3 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• TradingViewcoreTechnology or IntegrationTradingView charts and indicators are deeply integrated into the RMoney trading platform, enabling direct chart-based order execution with volume profile and prebuilt indicators, along with a dedicated technical chart expert.
• RazorpaycoreTechnology or IntegrationRazorpay is the payment gateway partner for processing online account opening payments. Payment data is encrypted through PCI-DSS standards. Razorpay does not store card data on their servers.
• Talisma (CRM)coreTechnology or IntegrationTalisma CRM is used as the customer relationship management platform accessible to employees and associates for lead management and client servicing. Accessed via crm.rmoneyindia.com.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Zerodha: India's largest discount stockbroker serving retail traders and investors with low-cost brokerage, Kite trading platform, Coin (direct mutual funds), and Console portfolio tools — directly competes with RMoney on equity, derivatives, commodity, and currency trading.
• Groww: Leading Indian retail-focused investment platform offering discount brokerage across equity and F&O plus direct mutual funds, fixed deposits, and IPOs — overlapping customer base (beginner-to-intermediate retail traders) and product set with RMoney.
• Upstox (RKSV Securities): Mobile-first Indian discount broker offering equity, derivatives, commodity, and currency trading with developer-friendly APIs and algo capabilities — directly comparable to RMoney's Rocket API and multi-platform stack.
• Angel One: Listed Indian retail broker operating on a hybrid discount plus advisory model with mobile app, equity/F&O/commodity/currency trading, mutual funds, and IPO — closest publicly comparable business model to RMoney's discount + full-service dual approach.
• 5paisa: Listed Indian discount broker offering equity, derivatives, commodity, currency, and mutual fund distribution with an algo trading platform — directly comparable as a small-mid cap Indian discount broker with similar product breadth to RMoney.
• Sharekhan: India-focused full-service and discount broker (part of BNP Paribas subsidiary) with extensive sub-broker/Authorized Person network across India — comparable to RMoney in combining physical sub-broker distribution with digital trading across equity, commodity, derivatives, and currency.

Broad incumbents

• ICICI Direct: Large Indian retail brokerage arm of ICICI Bank offering equity, derivatives, mutual funds, IPO, bonds, and research advisory via integrated banking relationships — overlaps RMoney's product set but at materially larger scale and with bank-distribution advantages.
• HDFC Securities: Indian retail and institutional broker subsidiary of HDFC Bank providing equity, derivatives, commodity, currency, mutual funds, IPO, and research — broadly comparable product set to RMoney with the incumbent advantage of HDFC Bank's customer base.
• Kotak Securities: Subsidiary of Kotak Mahindra Bank offering full-service Indian retail and institutional brokerage across equity, F&O, commodity, currency, mutual funds, and IPOs — broader incumbent with bank distribution competing for the same retail customer base as RMoney.
• Motilal Oswal Financial Services: Indian full-service broker and wealth manager offering equity, derivatives, commodity, mutual funds, PMS, and research advisory — competes with RMoney on the advisory/full-service side rather than pure discount, sharing customer overlap in active retail traders.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/rmoneybroking
• YouTubeyoutube.com/channel/UCZmp129SP-uF2CUcc8yCMZw/feed
• Facebookfacebook.com/rmoney.in
• LinkedInlinkedin.com/company/raghunandan-money
• Instagraminstagram.com/rmoneyindia

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RMoney