m.Stock marks global investment giant, Mirae Asset’s official entry into the highly competitive Indian broking sector, with a one-of-its-kind premise of “Zero Brokerage for Life”. Lets have a look on complete m.Stock review to know their brokerage charges, demat account, trading platforms, products and other services.
A global financial powerhouse, Mirae Asset is the number one stockbroker in South Korea and Indonesia. With m.Stock, 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.
Mirae Asset’s m.Stock was launched in April 2022, with a ground-breaking proposition of absolutely Zero Brokerage – across Intraday, Delivery, and F&O trades. This is in contrast to industry standards of charging a very high flat fee or % brokerage for Intraday and F&O trades. m.Stock is revolutionising the Indian brokerage space by offering Zero Brokerage across all trades – Delivery, Intraday, and F&O.
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’s Product Offerings
- Futures & Options
- MTF (eMargin)
- Currency Trading
- Commodity Trading
- Exchange Traded Funds
- Mutual Funds (upcoming)
- Index Baskets
m.Stock’s Genius, Unbelievable Pricing
m.Stock’s concept of Zero Brokerage is nothing short of life-changing for Indian investors and traders bogged down by high brokerages. With a one-time fee of ₹999, m.Stock customers enjoy zero brokerage for life, across all products. No restrictions. No conditions. Additionally, m.Stock also gives its customers the option to pay an additional one-time fee of ₹999 and waive off Demat charges for life.
m.Stock’s bold pricing is an absolute boon for both traders and investors. With a one-time fee of ₹999, you get the expertise and technology of a global financial powerhouse at your fingertips. m.Stock also has a no fringe option with an account opening of ₹149 and a quarterly Demat AMC plan of ₹120 where brokerage is charged at flat ₹20 per order.
Key Products Offered by m.Stock Platform
1. 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.
2. Equity Trading
- Pay zero brokerage on intraday & F&O trades
- Enjoy superfast trading 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
3. Invest in IPOs
- Invest in your favorite upcoming IPOs by following a few simple clicks.
- 100% Paperless application
- Seamless tracking of your IPO application
4. Invest in Futures & Options
- click order placement
- On-point charts, option chains & data
- Market order in Index options
Key Features of m.Stock
- 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.2. Unique Features on m.Stock
- Create upto 7 Watchlists with 50 Stocks each
- Pre-created 1 click index baskets
- Advanced order placement options3. Info-Rich Screens
- Single view screen for complete portfolio
- Carefully crafted “Home Screen” with real-time updates
- Live portfolio tracker with smart actions4. Super-Fast Orders
- 1 click order placement across products
- Quick voice search for stocks
- Voice assistant, MIRA at your disposal5. 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 m.Stock 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
How to Open m.Stock Demat & 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.
m.Stock Brokerage Charges – No Hidden Charges
No Hidden Charges
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 m.Stock charges Zero subscription fees for eMargin against industry average of ₹ 10,000.
m.Stock’s pledge charge is only ₹12 + GST per scrip, compared to industry average of ₹ 29 per scrip.
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.
Rematerialisation charges of ₹150 per certificate + ₹100 courier charges + CDSL Charges are charged by m.Stock.
Failed Instruction Charges
A charge of ₹50 per instruction will be applied in case of failed instructions.
There are absolutely no charges for account re-activation.
Account Closure Charges
No charge will be applicable for account closure.
GST on Brokerage, DP Charges
The standard 18% GST is applicable on Brokerage, DP charges, Exchange Transaction charges and Auto Square-off charges.
Physical Delivery of Derivatives
m.Stock charges nominal brokerage of 0.05% of the contract value in case of physical delivery.
- ₹40 per position is charged as RMS square-off-charges for open intraday positions
- Exchange-defined penalty is charged in case you are unable to deliver a stock (not in Demat) and it goes for auction.
Conclusion – m.Stock Review
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!