mStock was launched by Mirae Asset with a ground-breaking proposition of absolutely Zero Brokerage for Life – across Intraday, Delivery, and F&O trades. Lets have a look on this complete mStock review to know their brokerage charges, demat account, trading platforms, products and services.
A global financial powerhouse, Mirae Asset is the number one stockbroker in South Korea and Indonesia. With mStock, Mirae Asset aims to redefine the Indian broking space with its visionary “Zero Brokerage for Life” proposition, leveraging its capital market expertise of over 19 years, across 15 global markets and managing assets worth nearly USD 700 Billion.
m.Stock is revolutionising the Indian brokerage space by offering Zero Brokerage trading app across all trades – Delivery, Intraday, and F&O. This is in contrast to industry standards of charging a very high flat fee or % brokerage for Intraday and F&O trades.
As a brand, Mirae Asset is big on technology. This is clearly evident with their App and Web Platforms which are superfast, simple, stable, and intuitive, keeping customer’s ease and interest at its heart.
m.Stock Brokerage Charges No Hidden Charges
| Charges | Equity Delivery | Equity intraday | Futures | Options |
|---|---|---|---|---|
| Brokerage | Zero Brokerage | Zero Brokerage | Zero Brokerage | Zero Brokerage |
| Call & Trade Charges | Zero Charges | Zero Charges | Zero Charges | Zero Charges |
| STY/CTT | 0.1% on buy & sell | 0.025% on buy & sell | 0.01% on buy & sell | 0.05% on buy & sell |
| Transaction chargess | NSE 0.00345%NSE: 0.00345% | NSE 0.00345%NSE: 0.00345% | NSE: 0.002% | NSE: 0.053%(premium) |
| Gst | 18% on (Brokerage + Transaction charges) | 18% on (Brokerage + Transaction charges) | 18% on (Brokerage + Transaction charges) | 18% on (Brokerage + Transaction charges) |
| SEBI charges | ₹ 10/Crore | ₹ 10/Crore | ₹ 10/Crore | ₹ 10/Crore |
| Stamp charges | 0.015% or ₹1500/Crore on buy side | 0.003% or ₹300/Crore on buy side | 0.002% or ₹200/Crore on buy side | 0.003% or ₹300/Crore on buy side |
mStock Charges
- Account Opening charges – ₹ 999
- Account Maintenance charges- Free
Product & Services Offered by mStock Broker
Margin Trading Facility (eMargin)
- Get upto 80% delivery funding at one of the lowest rates of @ 7.99%.
- Choose to invest or trade from a collection of more than 700 stocks.
- Avail eMargin facility at zero brokerage and no hidden charges.
- Enjoy Unlimited holding period on stocks.
- No subscription fees for eMargin.
Equity Trading
- Pay zero brokerage on intraday & F&O trades
- Enjoy superfast trading app with real-time updates
- Stable and super-fast App and web platform with latest technology
- Start trading in under 5 minutes with quick, 100% online, hassle-free onboarding process
Invest in IPOs
- Invest in your favorite upcoming IPOs by following a few simple clicks.
- 100% Paperless application
- Seamless tracking of your IPO application
Invest in Futures & Options
- click order placement
- On-point charts, option chains & data
- Market order in Index options
Top Features of mStock
Superior Products
- Upto 80% funding under Margin Trading Facility (eMargin) at lowest rates of 7.99%
- Direct mutual fund plans to elevate your ROI
- FREE access to the highly liquid currency markets
- Commodity market trading to help you diversify against your equity positions.
- Intuitive interface with unique features.
Unique Features on m.Stock
- Create upto 7 Watchlists with 50 Stocks each
- Pre-created 1 click index baskets
- Advanced order placement options
Info-Rich Screens
- Single view screen for complete portfolio
- Carefully crafted “Home Screen” with real-time updates
- Live portfolio tracker with smart actions
Super-Fast Orders
- 1 click order placement across products
- Quick voice search for stocks
- Voice assistant, MIRA at your disposal
Strengthen your Trade with Fundamental Data & Technical Charts
- Smart calculators to facilitate quick and easy buy/sell/hold decisions
- Trading charts with buy / sell feature
- Fundamental Analysis & real-time Technical Data
Who should open mStock Demat account?
m.Stock Demat and Trading account is perfect for both seasoned traders/ investors and new-age novice stock market beginners.
m.Stock for Seasoned Traders and Investors
A high-end trader stands to gain multi-fold with m.Stock’s Zero brokerage plan with important trading inputs and super quick, stable, and best-in-class trading technology. Traders get access to best in class charts, fundamental analysis, technical data, advanced order types, historical market data, 7 pre-created watchlists and Single screen portfolio.
m.Stock for Stock Market Beginners
With a simple & intuitive user interface, m.Stock is the perfect trading partner for novice stock market traders and investors. Some of their features like one-click order placement, Voice search and Pre-designed index baskets are a godsent for market beginners.
m.Stock’s App & Web platforms are built on scalable & stable technology with bank-grade security and a simple, convenient interface, perfect for both, new age investors and seasoned traders.
m.Stock’s USP is its unbelievable pricing, and industry-unique features like One Click Order placement, 5 – minutes Onboarding, Advanced Voice Search, Fundamental Analysis & Technical charts, and In-app audio-video assistance that make trading and investing so easy.
m.Stock Review by Customer Ratings
| Category | Rating |
|---|---|
| Overall Rating | 4.3/5 |
| Fees | 4.7/5 |
| Brokerage | 4.3/5 |
| Usability | 4.0/5 |
| Customer Service | 4.1/5 |
Benefits of Stock Trading with M stock
You see that m stock is first broker that brings zero brokerage for life concept. Apart from this Trading with m stock can offer several potential benefits –
- Firstly, if the company demonstrates strong financials, you might enjoy capital appreciation as the stock price rises over time.
- With M stock Engaging in well-timed trades can also yield short-term gains.
- Trading with m stock allows you to diversify your investment portfolio, reducing risk. The stock’s liquidity ensures easy buying & selling.
- By staying updated on company news and market trends, you can capitalize on market movements.
- They offer advanced trading platforms with real-time data, charts, and tools for analysis, aiding informed decision-making with zero brokerage concept.
However, remember that trading involves risk; gains aren’t guaranteed, and losses can occur. Careful research, strategy, and risk management are essential for successful stock trading with m stock or any other.
How to Open mStock Demat and Trading Account
Opening a Demat and Trading account with m.Stock is 100% paperless, quick, easy, and can be done in less than 5 minutes. Follow the below steps to open m.Stock Demat and Trading account.
- Enter your mobile number and complete the quick online KYC process.
- Verify personal information like address proof, PAN number, identity proof, and date of birth.
- Select from payment options (Rs. 999 for life is a popular choice) and make the payment online.
- Add your bank account details and complete your profile.
- Your account will be activated within 24 hours, and you can start trading / investing without paying any brokerage.
Pros & Cons of m stock broker
Some of major pros and cons of m.stock broker are listed below:
Pros – m stock broker
- Considered among the leading low-cost discount brokers in India
- Two affordable brokerage plans – Rs. 149 and Rs. 999
- Life-time free brokerage
- Free demat account with no AMC charges
- Lucrative cashback with its refer and earn demat account scheme
- Vast range of investment products
- Easy registration process
- Easy IPO application process
- Mobile trading app with an easy and smooth user interface, suitable for both seasoned traders and also a beginner
- Reliable market data and financial ratios for fundamental analysis with nearly 100 indicators and 7 different chart types for technical analysis, suiting both an investor and a trader
- Fund transfer to various banks
- Easy to access customer support
Cons – m stock broker
- Weaker offline presence
- No opportunity to trade or invest in agricultural commodities
- Comparatively higher AMC of ₹120 per quarter
- A fresh entrant in the field of discount broking as compared to others
m.Stock Trading Platform
m.stock has an innovative and smart trading platform that can be accessed both laptops, desktop, and tablets. M stock mobile trading app by Mirae assets is full of smart features that make mutual fund investment relatively easy, quick, and effective.
Some of the major features of m.Stock trading platforms are:
- 1 click order placement
- Unmatched platform stability
- Onboarding in just 5 minutes
- Smart calculators for faster decision making
- Trading charts with buy / sell feature
- Fundamental & Technical Data analysis
- Voice-based stock search
- One screen view for the entire portfolio
- Live portfolio with smart actions
- Get up to 7 watchlists with 50 stocks each
- Custom price alerts
- Advanced order placement choices
- Smart interface with unmatched features
- 71% active clients
m.Stock Additional Charges
MTF (eMargin) Charges
Avail m Stock’s Margin Trading Facility (eMargin) for delivery trades at lowest rates of 7.99% across 700+ stocks with up to 80% funding at zero brokerage for all MTF trades , Zero Subscription fees and no hidden charges.
| Funding Value | Interest Rate |
|---|---|
| Upto ₹ 10 lakhs | 9.49% |
| ₹ 10 Lakhs – ₹ 25 Lakhs | 8.99% |
| Above ₹ 25 Lakhs | 7.99% |
The best part is that mStock charges Zero subscription fees for eMargin against industry average of ₹ 10,000.
- Mutual Fund Charges – m.Stock helps you invest in direct plans of more than 5,000 mutual funds.
- DP (Depository Participant) Charges – For sell transactions, DP charges of ₹12 + GST per ISIN per day will be charged by CDSL & m.Stock.
- Off-market Transfer Charges – With m.Stock, there is no transfer-in fees but ₹ 20 or 0.50%, whichever is lower is levied on transfer-out transactions.
- Delayed Payment Charges – Interest is levied at 18% p.a. or 0.05% per day on the debit balance in your m.Stock trading account.
- Physical Client Master Report (CMR) Request – With m Stock, your first CMR request is absolutely free. For subsequent requests, a nominal charge of ₹ ₹20 + ₹100 (courier charge) + 18% GST is levied.
- Payment Gateway Charges – Margin Fund Transfer – UPI Transactions are free while Net Banking charges typically vary between ₹7 – ₹11 + GST depending on the selected bank.
- Physical Statement Courier Charges – The courier charges for physical statement are ₹100 per request and another ₹100 per courier
- Dematerialisation Charge per certificate – For converting your physical share certificates to Demat form, a charge of ₹150 per certificate and an additional ₹100 courier charges is levied.
- Failed Instruction Charges – A charge of ₹50 per instruction will be applied in case of failed instructions.
- Account Closure Charges – No charge will be applicable for account closure.
Conclusion
To conclude, m.Stock is truly revolutionizing the Indian broking space by shifting the power back to the customers. With a one-time fee of Rs. 999, you get to enjoy zero brokerage on all products for life. It’s a must try if you are a seasoned trader or even a new investor as you get the backing of a global investment powerhouse like Mirae Asset for a lifetime fee of just Rs. 999. m.Stock stays true to its Zero brokerage promise as there are no conditions or catches. All you do is open an m.Stock Demat account by paying a one-time fee of Rs. 999 and you are sorted for life!
FAQs About mStock Review
What are the benefits of mStock?
No Brokerage Charges: mStock dedication to providing zero brokerage for life makes it a unique product. Users will save significant money, especially those who trade regularly.
Margin Funding At Lowest brokerage: m.Stock differentiates itself from competitors by offering the lowest brokerage on margin funding, starting at a competitive 6.99% yearly. Compared to other brokerage platforms, this enables traders to leverage their holdings at a reasonable cost.
Single-Click Order Submission: The user-friendly m.Stock trading platforms support one-click order placement, catering to traders prioritizing ease and efficiency when placing trades.
m.Stock is an excellent option for traders seeking a feature-rich, user-friendly, priced platform.
What are the m Stock charges for Options trading ?
All options trades are subject to exchange-set transaction fees, and options trading is subject to 18% GST. State-by-state, stamp duty amounts vary and range from 0.002% to 0.005% of the total contract value.
For example, transaction charges on a ₹10,000 contract would be ₹10, GST would be ₹1.80, and stamp duty would be between ₹0.20 and ₹0.50. As a result, the entire trading cost for this options contract is between ₹11.80 and ₹12.50.
What documents does m.Stock require?
To guarantee a seamless onboarding process, you must provide a series of documentation if you plan to create a Demat and trading account with m.Stock :
1. Identity Proof (Mandatory): PAN Card (Permanent Account Number)
2. Proof of Address – Utility Bill (Electricity, Telephone, Water, and more.), Ration Card, Aadhaar Card (Address Page)
3. Proof of Income – 1. Income Tax Returns (ITR), 2. Latest Salary Slip
4. Bank Statements (Recent six months)
5. Cheque Leaf (Cancelled)
6. Photograph
Is m.Stock a discount broker?
Yes, m.Stock is a discount broker that provides zero brokerage trading for mutual funds, stocks, and ETFs. No costs are associated with these transactions, resulting in substantial cost savings. m.Stock’s user-friendly platform caters to all levels of investors.
What is the annual maintenance fee for the m.Stock Demat account?
When it comes to Annual Maintenance Charges (AMC), m.Stock offers two choices:
1. Lifetime Free AMC: For a one-time payment of ₹999, you may have lifetime free AMC for your demat account.
2. Quarterly AMC: Choose to pay ₹120 every three months to maintain your demat account.
What are the account opening charges at m.Stock?
m.Stock offers two demat account opening programs:
1. 999 Account: Fee: ₹999 (one-time)
Benefits: All products — equity, delivery, futures, options, currency, margin trading facility (eMargin), mutual funds, initial public offerings (IPOs), and other investment products — have zero brokerage for life.
2. Low-Brokerage Plan: Fee: ₹149 (one-time)
Benefits: m.Stock offers IPO, mutual funds, exchange-traded funds, and stock distribution services free of charge. For other items, including currency transactions, futures and options, and intraday equities, there is a minimal brokerage cost of Rs 20 per order.
Competitive account opening costs make mStock overview an appealing option for investors of all skill levels.
How long does it take to withdraw money from m.Stock?
Processing a withdrawal from m.Stock takes 24 business hours. However, depending on your bank and the withdrawal amount, it might take longer. Funds may occasionally take two or three working days to occur in your bank account.
Allowing sufficient time for processing and transfer processes ensures seamless financial transactions. When arranging your withdrawal from m.Stock, please remember these things.
How can you register for m.Stock trading account?
1. Visit The m.Stock Platform:
2. Click “Open Account”:
3. Verification Of Mobile Number: Enter your registered mobile phone and verify it with a one-time password (OTP).
4. Email Verification: Please enter your email address and verify it using an OTP-like procedure.
5. PAN And Birthdate: To complete the identity verification procedure, provide your PAN (Permanent Account Number) and birthdate.
6. Upload Other KYC Documents: As previously stated, uploading Other KYC Documents is a requirement for users of m.Stock.
7. Pick A Brokerage Plan: Pick the brokerage plan that best suits your needs from the available options.
8. Initial Deposit: As needed, make a first deposit into your account.
9. Upload Selfie And Signature: To upload a crisp selfie and your signature, follow the guidelines.
10. Link And Verify Bank Account: Finish the verification procedure by linking your bank account to your m.Stock account.
11. Complete Personal Information: Add personal information, such as your name, trading background, and nominee details.
12. Activate Derivatives Section (if applicable): Select this option and submit supporting documentation, such as a 6-month bank statement, pay slip, ITR acknowledgment slip, or Form 16, if you want to trade in the derivatives section (Futures & Options).
13. eSign Stage: Go to the eSign step and upload your signature there. You have completed the account creation procedure by successfully uploading the document.
These instructions will help you establish an account with m.Stock quickly and easily, providing a seamless trading platform experience.
Can we trade commodities in m.Stock?
Yes, Besides equities, futures, and currencies, m.Stock offers a flexible trading platform that lets customers trade commodities. You must activate your account’s commodity sector to trade commodities on m.Stock. Following is a detailed how-to:
1. Log in to your account on m.Stock.
2. Select “My Account” from the menu.
3. Out of the drop-down menu, choose “Segment Activation”.
4. Tick the box next to “Commodities”.
5. Then, select “Submit.”
Is m.Stock registered with SEBI?
m.Stock has a valid broker registration with SEBI. Regulatory compliance guarantees that m.Stock follows SEBI’s principles and regulations and works within the law.
Customers may choose m.Stock with confidence for financial transactions since it satisfies SEBI regulatory standards.
Is m.Stock a good app?
m.Stock is a trustworthy and very good trading app that sets itself apart by providing the unique benefit of free brokerage for life on all products. The program, intended for newcomers and experienced traders, has a user-friendly layout and various tools to help users make educated trading decisions.
Pros:
1. Zero Brokerage: Commission-free trading in futures, options, equity delivery, and equity intraday.
2. Simple And Easy-To-Use UI: Easily navigate the stock market with this intuitive interface.
3. Margin Trading Facility: EMargin’s margin trading profit starts at 6.99%.
4. Informative Features: Access a range of tools that enable users to decide on well-informed trading strategies.
5. Comprehensive Stock Selection: Get access to over 700 stocks for various investing possibilities.
6. Educational Resources and Support: Get started with beginner-friendly instructional resources and receive prompt customer service.
Cons:
1. Limited Research Tools: Compared to other platforms, some users feel that the research tools are not as comprehensive.
2. No Relationship Manager: Users looking for individualized support may find it disadvantageous that a resolute relationship manager is unavailable.
3. Delayed Customer Support: Consumers may encounter delays in getting answers from customer support.
What are the brokerage charges at m.Stock?
m.Stock offers two unique options to suit a range of investment interests described below in this m Stock review page-
Zero Brokerage Plan – It costs Rs 999 upfront and provides lifetime freedom from brokerage fees for all investment products. Services offered include equity delivery, intraday trading, futures and options, mutual funds, initial public offerings (IPOs), and margin services (eMargin).
Basic Plan – The Rs 149 plan offers free brokerage for ETFs, mutual funds, initial public offerings, and equities delivery. Under this plan, a small flat mStock brokerage charge of Rs 20 per order is payable for intraday, futures, options, and currency transactions, guaranteeing customers’ freedom and cost-effectiveness.
Does m.Stock provide free trading?
Even though m.Stock provides free brokerage on some plans. It’s important to remember that there is a Rs. 999 one-time account opening cost. Alternatively, a package offers 100% free trading on mutual funds, IPOs, ETFs, and delivery-oriented funds for Rs. 149.
However, this plan has a set brokerage fee of Rs. 20 per order for intraday trading, futures and options, and currency trading. Whether you choose complete commission-free services or the plan with a small account opening charge, it’s essential to investigate both alternatives to find the most affordable answer for your trading needs.
Can you invest in an IPO with m.Stock?
m.Stock offers a convenient investment method in Initial Public Offerings (IPOs). Establish a m.Stock account, complete a KYC check, and link your bank account for seamless ASBA (Application Supported by Blocking Amount) transactions. Keeping up-to-date with m.Stock’s user-friendly interface provides extensive information on impending IPOs.
Is m.Stock suitable for trading?
The trade community universally regards m.Stock is a beneficial platform, particularly in India. It provides a fluid trading experience with a user-friendly interface and a broad collection of features.
Furthermore, competitive brokerage fees add to its allure. m.Stock’s applicability, however, is determined by personal tastes and trading techniques. It is essential to examine your demands before selecting a platform. When making an informed decision, consider m.Stock’s outstanding reputation and personal need for a well-educated option.