M Stock provides numerous features and services for investors as well as traders. You can access market insights, research reports, portfolio analytics, and more with mstock’s value-added offerings. Hence, mStock is considered as a broker who offers tailored services for both traders and investors. 

In this M Stock review, we have gathered all the important information about mstock. We will talk about its overview, features, charges, and much more. So, if you are also one of those who want to invest in the stock market but are unsure about which broker to choose, then read our M Stock review.

M Stock review

M Stock overview

mStock is a company backed by Mirae Asset. Mirae Asset. Mirae Asset is a global financial powerhouse and topmost stockbroker in South Korea and Indonesia. The company has over 19 years of experience and expertise across 15 global markets. 

It manages assets worth nearly USD 700 Billion. Mirae Asset has launched m. Stock in India in April 2022. With this Mirae Asset is on a mission to redefine the broking space in India with their zero brokerage for life plan.

Features of M Stock

  1. Emerging facilities up to 80% funding at the rate of 7.99%
  2. User-friendly interface
  3. Direct mutual fund plans
  4. You can create up to 7 watchlists with 50 stocks in each
  5. It offers pre-created 1 click index baskets
  6. It provides a single view screen for your complete portfolio
  7. Home screen with real-time market updates
  8. Live portfolio tracker
  9. 1 Click order placement 
  10. Voice search for stocks
  11. MIRA is a voice assistant for your service
  12. mStock brokerage calculator for calculating brokerage
  13. Fundamental analysis 

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Financial products offered by M stock

  1. Equity trading
  2. IPOs
  3. Futures and options

Charges:

Account opening charges – Rs. 999

Account maintenance charges – Free

M Stock brokerage & Other Charges in the Industry

TypeChargesmStockFull Service BrokerDiscount Broker
BrokerageDelivery₹0Up to 0.55%₹0 – ₹20
Intraday₹0Up to 0.19%₹10 – ₹20
Futures₹0Up to 0.05%₹10 – ₹20
ETF₹0Up to 0.55%₹0 – ₹20
MTF (eMargin)₹0Up to 0.55%₹0 – ₹20
Options₹0Up to ₹100₹10 – ₹20
Currency₹0Up to ₹25₹0 – ₹20
Mutual Fund₹0₹0₹0
IPO₹0₹4₹20
Average Brokerage₹0Up to 0.55%Up to ₹20
Other ChargesDP Charges During Sell Transactions₹120.04%₹16
Payment Gateway ChargesUp to ₹11₹6₹9
Call & Trade₹0₹24₹54
MTF Interest RateUp to 9.99%18%20%

 M stock equity charges:

ChargesEquity DeliveryEquity intradayFuturesOptions
Brokerage0000
Call & Trade Charges0000
STY/CTT0.1% on buy & sell0.025% on buy & sell0.01% on buy & sell0.05% on buy & sell
Transaction chargessNSE 0.00345%NSE: 0.00345%NSE 0.00345%NSE: 0.00345%NSE: 0.002%NSE: 0.053%(premium)
Gst18% 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 charges0.015% or ₹1500/Crore on buy side0.003% or ₹300/Crore on buy side0.002% or ₹200/Crore on buy side0.003% or ₹300/Crore on buy side

M Stock currency charges

ChargesFuturesOptions
Brokerage00
Call & Trade Charges00
STT/CTTNo STTNo STT
Transaction chargesNSE: Exchange txn charge: 0.0009%NSE: Exchange txn charge: 0.035%
GST18% on (brokerage + transaction charges)18% on (brokerage + transaction charges)
SEBI charges₹10 / crore₹10 / crore
Stamp charges0.0001% or ₹10 / crore on buy side0.0001% or ₹10 / crore on buy side

M Stock eMargin charges

ChargesMTF (eMargin)
Interest Rate6.99% – 9.99%
BrokerageZero
Subscription FeeZero
Margin Pledge₹25^^
GST18% on (brokerage + transaction charges)

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How to open an account with M Stock?

You can open an M Stock demat account in a few simple steps.

  1. Go to the official website of mStock: https://www.mStock.com/
  2. On the homepage, you will find the ‘Open Free Demat & Trading Account Now’ button. Enter your contact number below this button and get started.
  3. Then follow the subsequent steps and enter the information asked. This will include your full name, address, contact details, email ID and PAN.
  4. Now provide your bank account details, income information, and trading experience. 
  5. Upload the required documents such as PAN card copy, Adhar card, address proof, and your passport-sized photo
  6. Complete the IPV (Person verification) process
  7. After completing IPV, submit your e-signature. For this, you have to do Aadhar-based e-KYC verification. 
  8. Check your entered information one last time and submit 
  9. Once your application gets approved from mStock, you will get your demat account details.
  10. Login to your account by using the account credentials provided by mStock.

M Stock margin

mStock offers a margin trading facility to its investors and traders. With this traders or investors can avail up to 80% funding at interest rates of 7.99%. mStock’s margin feature allows traders or investors to leverage their trading position and maximize returns. It also offer mStock margin calculator to calculate your margin and interest rate.

M Stock pros and cons

Pros of mstock:

1. Zero brokerage features for all investment offerings.

2. Free call and trade feature. It makes trading convenient for non-tech-savvy traders.

3. No AMC (Annual maintenance charges)

4. mStock doesn’t charge any commission on mutual funds

Cons of mstock:

1. Analysis, recommendations, and research reports are not provided by mstock

2. You cannot invest in commodities with mstock as of now

3. If you don’t opt for the zero brokerage plan of Rs. 999 then a standard AMC charge of Rs. 120 is charged every quarter.

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M Stock customer service

High-quality customer service is the utmost for any platform. However, mStock’s customer service has received some issues such as long wait times and unresponsiveness. Customers find it difficult to reach customer care and call and trade numbers. Customers have reported these issues which cause inconvenience. 

This is an area of improvement for mStock. It should work on better experience to build a positive reputation. Mstock needs to prioritize customer service. It will help the company grow and succeed in the market.

M Stock ratings

Overall Rating4.3/5
Fees4.7/5
Brokerage4.3/5
Usability4.0/5
Customer Service4.1/5

Paper Trading App 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.

Why choose M Stock?

If you are an investor, M Stock provides you with:

  • No fees on Direct Plans of Mutual Funds
  • Added benefit of educational resources that will help you understand the market better
  • Invest in IPOs easily with one click

If you are a trader, mStock provides you with:

  • Trade with zero brokerage for lifetime plan
  • No extra charges for call and trade
  • 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

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.

mStock 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 FirmBrokerage ChargesTrading PlatformsOther Features
M Stock0User-friendly mobile app and web platformFast trade executions and outstanding customer service
Zerodha₹20 per orderMobile app, web platform, and desktop softwareAdvanced research tools and educational resources, Coin platform for mutual fund investment
Upstox₹20 per orderMobile app and web platformAdvanced charting tools and technical analysis tools.

People Also Read:- Zerodha vs m.Stock

M Stock Complaints & Chart

MonthsNo of complaintsResolvedActive complaints
Mar-231708585
Apr-231208040
May-231107040
Jun-231458540
Jul-23806515
Aug-23968610
Sep-2345405
Oct-2364577
Nov-23927418
Dec-2320319

Conclusion – M Stock Review

In conclusion, mStock by Mirae Asset is a holistic platform for trading. In this M Stock review we have seen that with all the advanced features, it tops the list of brokers. However, mStock also has some limitations and issues regarding server maintenance and customer care have been reported by customers. These areas of improvement need attention from mstock. With the pricing strategy and technologically driven platform mStock surely has the potential to redefine Indian broking space.

FAQs About M Stock Review

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.

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.

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. 

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.

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.

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.

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.

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.