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Discount Broker Depository: CDSL
22

Launched in April 2022, m.Stock is the broking platform created by the renowned Asset Management Company, Mirae Asset. m.Stock has an active client base of 2,98,475 as of January 2024.

Product Basket

The segments in which you can invest (includes Equity, Commodity, Currency, Futures and Options) through this broker

Equity
Commodity
Currency
Futures
Options
Brokerage Plans:

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charges

₹ 999

Account Maintenance Charges

Free

Plan Charges

Free

Call & Trade Charges

Free
Brokerage

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

Zero

Equity Futures Brokerage

Zero

Equity Options Brokerage

Zero

Currency Futures Brokerage

Zero

Currency Options Brokerage

Zero

Commodity Futures Brokerage

-

Commodity Options Brokerage

-
Margins

Equity Delivery Margin

1x

Equity Intraday Margin

4x

Equity Futures Margin

1x

Equity Options Margin

1x

Currency Futures Margin

1x

Currency Options Margin

1x

Commodity Futures Margin

-

Commodity Options Margin

-
Charges

Account Opening Charges

Free

Account Maintenance Charges

Zero

Plan Charges

Zero

Call & Trade Charges

Free
Brokerage

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

0.30%

Equity Futures Brokerage

0.30%

Equity Options Brokerage

₹20

Currency Futures Brokerage

0.30%

Currency Options Brokerage

₹20

Commodity Futures Brokerage

-

Commodity Options Brokerage

-
Margins

Equity Delivery Margin

1x

Equity Intraday Margin

4x

Equity Futures Margin

1x

Equity Options Margin

1x

Currency Futures Margin

1x

Currency Options Margin

1x

Commodity Futures Margin

-

Commodity Options Margin

-
Trading Platforms Learn More

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.

Web Portal Share Market App
Pros

Advantages and Strengths of this broker.

  1. m.Stock charges zero brokerage across all the investment instruments provided on the platform.
  2. Zero call and trade charges allow customers that are not too tech-savvy to invest on the platform.
  3. m.stock charges no annual platform charges.
  4. Mutual funds provided by m.Stock fall under the Direct Plan. This means that there is no commission charged on mutual fund investments.
Cons

Disadvantages of this broker that it needs to improve upon.

  1. m.Stock does not offer analysis, trading advice, recommendations and research reports on stocks.
  2. No Option to invest in commodities yet.
  3. Standard AMC of ₹ 120 is charged every quarter if investors do not opt for the ₹ 999 Zero Brokerage plan.
Additional Features

Extra features provided by the broker at little or no extra cost. Like research reports, SMS alerts etc.

3 in 1 Account
Free Trading Calls
Free Research Reports
SMS Alerts
Margin Funding
Margin Against Share
Other Investment Options

Services provided by the broker for investing in other financial assets such as Mutual funds, Insurance, Bonds etc.

Mutual Funds
IPO Platform
Bonds & Debt
Exchange Traded Funds
Insurance
Finology Ratings & Reviews for m.Stock

Ratings are provided based on customer service, usability, charges and overall average. Reviews are based on positive and negative aspects of the broker that help you understand this broker better.

Charges

(3.5)

Usability

(3)

Customer Service

(3)

Charges Review

  • m.Stock charges zero brokerage across all its products.
  • There are no Call and trade charges levied on the users of m.Stock.
  • The platform charges standard ₹120 AMC every quarter. However, investors do have the option to make AMC free for life by paying a one-time fee of ₹999.
  • No commission on the mutual fund as the platform offers direct plans.

Customer Service Review

  • Unlike a few other broker platforms, no Relationship Manager is provided upon account opening. However, m.Stock has developed a virtual assistant, MIRA which helps clients with account opening to navigating the app and more.
  • Existing customers have reported delays in response from customer support. However, despite the delay, client queries are resolved on a best effort basis.

Ease of Use Review

  • As per customer feedback, the app and web portal often hang and become unresponsive.
  • Many users have faced issues with the apps performance as it has lots of bugs that needs to be fixed. However, the m.Stock team does come up with timely app updates to fix bugs and improve overall app experience.
  • The platform does offer a Knowledge Centre for users for better understanding of basic investing topics.

Account Opening Procedure Review

  • The online account opening is fairly quick and straightforward.
  • m.Stock claims that the customer onboarding process takes only 5 minutes.
  • Currently NRI and Non-Individuals cannot open an account with m.Stock.

Why Choose m.Stock? Know Everything about m.Stock here.

Verdict

m.Stock is an offering by the famed Asset Management Company Mirae Asset. The platform has seen significant growth in its user base, having started fairly recently in April 2022. The platform offers a variety of investment options to its users, ranging from IPO, stocks, F&O, mutual funds and currency.

If you are an investor, the broker provides you with

  • No fees on Mutual Fund Direct Plans
  • Educational resources for a better understanding of markets.
  • Option to invest in IPO in one click.

If you are a trader, the broker provides you with

  • Zero Brokerage for Lifetime.
  • No Call and Trade Charges.
  • No limit on the number of orders.
  • Smart calculators for easy decisions.
  • Trading charts with buy/sell feature.
  • Fundamental & Technical Data.

Trading Tools

The platform is currently quite new, and available as a web portal and a trading app. The features of the platform’s terminals are as follows:

Web Portal

The features offered by Web Portal are:

  • Stable, seamless, and intuitive user interface.
  • 1-click order placement with quick voice search.
  • Advanced trading tools and features like GTT, Basket orders. 
  • Info-rich screens with live portfolio tracking. 
  • Fundamental data, technical charts, smart calculators and more.

Share Market App


m.Stock’s share market app allows users to place trades online from the comfort of their homes. The app is available in both iOS App Store and Google Play Store m.Stock’s share market app has the following features:

1.    1-click order placement assisted by quick voice search.
2.    Option chain analysis that provides users with strike prices and open interest data.
3.    Advanced order options like after market order, 2-legged cover orders, GTT, and Basket orders. 
4.    Single view portfolio that allows users to view their trading portfolio and investment profit and loss on a single page.
5.    Advanced charts for trading with a feature to trade in a specific stock with a single click.

Charges Details

For Equity

CHARGES

DELIVERY

INTRADAY

FUTURES

OPTIONS

Transaction Charges

NSE: 0.00325%
BSE: 0.00375% 

 

NSE: 0.00325%
BSE: 0.00375% 

 

NSE: 0.0019%    

NSE: 0.050% (on premium)
 

Demat Transaction Charges 

Sell-side, ₹ 7 & ₹ 5.5 CDSL 

-

-

-

GST

18% on Brokerage + Exchange Turn over Charges

18% on Brokerage + Exchange Turn over Charges

18% on Brokerage + Exchange Turn over Charges

18% on Brokerage + Exchange Turn over Charges

STT

0.1% on buy and sell

0.025% Sell-side

0.0125% Sell-side

0.0625% Sell-side

SEBI Charges

 ₹ 10/Crore

₹ 10/Crore ₹ 10/Crore ₹ 10/Crore

For Currency

CHARGES

FUTURES

OPTIONS

Transaction Charges

0%
 

0% 
 

GST

18% on Brokerage + Transaction Charges

18% on Brokerage + Transaction Charges

STT

-

-

SEBI Charges

₹ 10 per crore

₹ 10 per crore

 

m.Stock Complaints & Stats

Company name:

Mirae Asset Capital Markets (India) Pvt Ltd

Contact:

1800 2100 818

Email:

help@mstock.com

Active Users:

2,98,475
m.Stock Customer Reviews

No Customer reviews yet. Be the first to review this broker.