by admin | September 9, 2024
Last updated on August 26,2024,
M.Stock offers many features and services for investors and traders. You can find market insights, research reports, portfolio analytics, and more with M Stock’s added offerings. That’s why m.Stock is seen as a broker that provides customized services for both traders and investors.
In this review of M Stock, we’ve gathered all the important information about the platform. We’ll discuss its overview, features, charges, and more. So, if you’re someone who wants to invest in the stock market but isn’t sure which broker to pick, then read our MStock review.
Table of Contents
m.Stock overview
| Company Type | Private |
| Headquarters | Mumbai |
| Founder | Park Hyeon-Joo |
| Establishment Year | 1997 |
| Broker Type | Discount Broker |
| Active Clients | 3.5 Lakh+ |
| Check m.Stock Offers | Click Here |
MStock is a company supported by Mirae Asset, a big player in finance worldwide. Mirae Asset is a leading stockbroker in South Korea and Indonesia. They’ve been around for 19 years and know the market well in 15 different countries. They handle assets worth almost USD 700 billion.
In April 2022, Mirae Asset introduced mStock in India. Their aim is to change how broking works in India by offering a lifetime zero brokerage plan.
m.Stock Features
- Emerging facilities up to 80% funding at the rate of 7.99%
- User-friendly interface
- Direct mutual fund plans
- You can create up to 7 watchlists with 50 stocks in each
- It offers pre-created 1 click index baskets
- It provides a single view screen for your complete portfolio
- Home screen with real-time market updates
- Live portfolio tracker
- 1 Click order placement
- Voice search for stocks
- MIRA is a voice assistant for your service
- m.Stock brokerage calculator for calculating brokerage
- Fundamental analysis
Financial products offered by M.stock
- Equity trading
- IPOs
- Futures and options
M.stock Charges:
m.stock account opening charges – Rs. 999
m.stock amc charges (Account maintenance charges) – Free
m.Stock brokerage & other charges in the industry
| Type | Charges | m.Stock | Full Service Broker | Discount Broker |
| Brokerage | Delivery | ₹0 | Up to 0.55% | ₹0 – ₹20 |
| m stock intraday charges | ₹0 | Up to 0.19% | ₹10 – ₹20 | |
| Futures | ₹0 | Up to 0.05% | ₹10 – ₹20 | |
| ETF | ₹0 | Up to 0.55% | ₹0 – ₹20 | |
| MTF (eMargin) | ₹0 | Up to 0.55% | ₹0 – ₹20 | |
| Options | ₹0 | Up to ₹100 | ₹10 – ₹20 | |
| Currency | ₹0 | Up to ₹25 | ₹0 – ₹20 | |
| Mutual Fund | ₹0 | ₹0 | ₹0 | |
| IPO | ₹0 | ₹4 | ₹20 | |
| Average Brokerage | ₹0 | Up to 0.55% | Up to ₹20 | |
| Other Charges | DP Charges During Sell Transactions | ₹12 | 0.04% | ₹16 |
| Payment Gateway Charges | Up to ₹11 | ₹6 | ₹9 | |
| Call & Trade | ₹0 | ₹24 | ₹54 | |
| MTF Interest Rate | Up to 9.99% | 18% | 20% |
M.stock equity charges:
| Charges | Equity Delivery | Equity intraday | Futures | Options |
| Brokerage | 0 | 0 | 0 | 0 |
| Call & Trade Charges | 0 | 0 | 0 | 0 |
| 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 |
M.Stock currency charges
| Charges | Futures | Options |
| Brokerage | 0 | 0 |
| Call & Trade Charges | 0 | 0 |
| STT/CTT | No STT | No STT |
| Transaction charges | NSE: Exchange txn charge: 0.0009% | NSE: Exchange txn charge: 0.035% |
| GST | 18% on (brokerage + transaction charges) | 18% on (brokerage + transaction charges) |
| SEBI charges | ₹10 / crore | ₹10 / crore |
| Stamp charges | 0.0001% or ₹10 / crore on buy side | 0.0001% or ₹10 / crore on buy side |
M Stock eMargin charges
| Charges | MTF (eMargin) |
| Interest Rate | 6.99% – 9.99% |
| Brokerage | Zero |
| Subscription Fee | Zero |
| Margin Pledge | ₹25^^ |
| GST | 18% on (brokerage + transaction charges) |
How to open an account with M.Stock?
You can open an M.Stock demat account in a few simple steps.
- Go to the official website of m.Stock: https://www.mStock.com/
- On the homepage, you will find the ‘Open Free Demat & Trading Account Now’ button. Enter your contact number below this button and get started.
- Then follow the subsequent steps and enter the information asked. This will include your full name, address, contact details, email ID and PAN.
- Now provide your bank account details, income information, and trading experience.
- Upload the required documents such as PAN card copy, Adhar card, address proof, and your passport-sized photo
- Complete the IPV (Person verification) process
- After completing IPV, submit your e-signature. For this, you have to do Aadhar-based e-KYC verification.
- Check your entered information one last time and submit
- Once your application gets approved from mStock, you will get your demat account details.
- Login to your account by using the account credentials provided by mStock.
m.Stock margin
mStock provides a way for investors and traders to borrow money for trading, called margin trading. You can borrow up to 80% of the money you need, and the interest rate is 7.99%.
Using mStock’s margin feature lets you increase your trading power and make more money. They also have a tool called the mStock margin calculator, which helps you figure out how much you can borrow and what your interest rate will be.
M Stock Pros and Cons
| m.stock Pros: | m.stock Cons: |
| 1. Zero brokerage features for all investment offerings. | 1. Analysis, recommendations, and research reports are not provided by mstock |
| 2. Free call and trade feature. It makes trading convenient for non-tech-savvy traders. | 2. You cannot invest in commodities with mstock as of now |
| 3. No AMC (Annual maintenance charges) | 3. If you don’t opt for the zero brokerage plan of Rs. 999 then a standard AMC charges of Rs. 120 is charged every quarter. |
| 4. mStock doesn’t charge any commission on mutual funds |
m.Stock Customer Support
| Trading Support:- Available, Chargeable | Dedicated Dealer:- Available, Chargeable |
| Call Support:- Customer Care:- 1800-2100-818 Call & Trade:- 1800 2028 444 | Email Support:- [email protected] |
| Compliance Officer:- [email protected] | Website:- m.Stock Website |
| YouTube |
m.Stock customer service
Good customer service is really important for any platform. But, m.Stock’s customer service has had some problems. People have to wait a long time and sometimes they don’t get any response at all.
It’s hard for customers to get in touch with customer care or call and trade numbers. This causes inconvenience for them.
m.Stock needs to get better in this area. It should focus on giving customers a better experience to make a good name for itself. Making customer service a top priority will help m.Stock grow and do well in the market.
mStock Reviews and Rating by PaperTradingApp
Reviews for m.Stock
Charges Review
- Zero brokerage for any of the products offered by mStock.
- mStock does not charge you for call and trade feature.
- The platform has a quarterly AMC of ₹120, which is standard. However, you can opt for a lifetime AMC-free account by paying a one-time fee of ₹999.
- You can invest in direct plans of mutual funds without any commission.
Service Review
- mStock does not assign a Relationship Manager to its customers when they open an account. Instead, mStock has created a virtual assistant, MIRA, that guides customers through the account opening process and helps them navigate the app and more.
- Some customers have experienced delays in getting a response from customer support. However, mStock tries to resolve customer queries as quickly and effectively as possible.
Ease of Use Review
- Some customers have reported that the app and web portal freeze and stop working at times.
- The app performance has been an issue for many users as it has many glitches that need to be fixed. However, the mStock team regularly updates the app to fix bugs and enhance the app experience.
- The platform provides a Knowledge Centre for users to learn about basic investing topics.
m.Stock ratings
| Overall Rating | 4.3/5 |
| Fees | 4.7/5 |
| Brokerage | 4.3/5 |
| Usability | 4.0/5 |
| Customer Service | 4.1/5 |
Why choose m.Stock?
| If you are an investor, m.Stock provides you with: | If you are a trader, m.Stock provides you with: |
| No fees on Direct Plans of Mutual Funds | Trade with zero brokerage for lifetime plan |
| Added benefit of educational resources that will help you understand the market better | No extra charges for call and trade |
| Invest in IPOs easily with one click | Unlimited number of orders per day |
| Calculators to help you make smart decisions | |
| Trading charts with integrated buy/sell feature | |
| Fundamental and technical data for analysis |
m.Stock trading platforms
| Android App Download | MStock Android App |
| iOS App Download | MStock iOS App |
| Web Trading Platform | MStock Web Trading |
m.Stock web trading platform: mStock offers a web trading platform that has a great interface. It offers a smooth onboarding process. It offers several features which makes it one of the best trading platforms.
m.Stock mobile app: With the mobile app offered by mStock traders or investors can access their demat accounts from anywhere. It provides real-time market data with many features.
M.Stock Vs Zerodha Vs Upstox: A Comparison
| Brokerage Firm | Brokerage Charges | Trading Platforms | Other Features |
| M Stock | 0 | User-friendly mobile app and web platform | Fast trade executions and outstanding customer service |
| Zerodha | ₹20 per order | Mobile app, web platform, and desktop software | Advanced research tools and educational resources, Coin platform for mutual fund investment |
| Upstox | ₹20 per order | Mobile app and web platform | Advanced charting tools and technical analysis tools. |
People Also Read:- Zerodha vs m.Stock
m.Stock Complaints & Chart
| Months | No of complaints | Resolved | Active complaints |
| Mar-23 | 170 | 85 | 85 |
| Apr-23 | 120 | 80 | 40 |
| May-23 | 110 | 70 | 40 |
| Jun-23 | 145 | 85 | 40 |
| Jul-23 | 80 | 65 | 15 |
| Aug-23 | 96 | 86 | 10 |
| Sep-23 | 45 | 40 | 5 |
| Oct-23 | 64 | 57 | 7 |
| Nov-23 | 92 | 74 | 18 |
| Dec-23 | 20 | 3 | 19 |
Conclusion
To sum up, m.Stock by Mirae Asset is a complete platform for trading. After looking at it in this review, we found that it’s one of the best brokers thanks to its advanced features. But some customers have mentioned problems with server maintenance and customer service. These are areas where m.Stock needs to improve. With its pricing and tech-focused platform, m.Stock could really change how broking works in India.
FAQs on m.Stock Review
Check out different FAQs regarding mStock Review here.
Q.1. Is mstock free?
Ans:- Mstock charges an initial account opening fee of Rs 999 if you want to avail zero brokerage facility. There are also some additional costs.
Q.2. Who owns mStock?
Ans:- mStock is owned by Mira Asset Securities India Private Limited. It is a popular South Korean financial corporation and has assets of around USD 500 billion.
Q.3. Is it possible to transfer my demat account to mStock?
Ans:- Yes, you can transfer your existing demat account to mStock. M Stock offers a seamless transfer process for your convenience.
Q.4. What are the benefits of mStock?
Ans:- mStock offers a user-friendly trading platform, real-time market data, and a range of investment options. The platform is known for its simplicity, making it accessible for both beginners and experienced traders. Additionally, m Stock provides features like research tools and educational resources to enhance the trading experience.
Q.5. What are the charges for Options trading at mStock?
Ans:- The charges for Options trading at m Stock may vary. It’s essential to check the latest fee structure on the m Stock website or contact their customer support for detailed information on Options trading charges, including transaction fees and any other associated costs.
Q.6. What documents are required for mStock?
Ans:- The documents required for m Stock typically include proof of identity, proof of address, and your PAN card. Specific documents may vary, so it’s advisable to check the m Stock website or contact their customer support for the most up-to-date information on the required documents for account opening.
Q.7. Is mStock a discount broker?
Ans:- m Stock operates as a mobile-based discount broker, offering cost-effective trading solutions. As a discount broker, m Stock generally provides a no-frills platform with lower brokerage fees compared to full-service brokers, making it an attractive option for cost-conscious investors.
Q.8. What is the annual maintenance fee of mStock Demat account?
Ans:- The annual maintenance fee for a Demat account at m Stock may be subject to change, and it’s recommended to refer to the latest fee schedule on the m Stock website or contact their customer support. Annual maintenance fees are common for Demat accounts and vary among different brokers.
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