m.Stock, launched in April 2022 by Mirae Asset Capital Markets (India) Pvt. Ltd., provides a wide range of stockbroking services for retail investors. The platform allows investments in shares, derivatives, ETFs, IPOs, and direct mutual funds. Designed for both beginners and seasoned investors, m.Stock ensures a smooth and secure trading experience and handles more than one crore trades every day.
Investors can open a Demat and Trading Account at zero cost. Equity Delivery, Mutual Funds, and IPO investments come with zero brokerage, while F&O, Intraday, and MTF trades are charged at a flat ₹5 per order—often making m.Stock more affordable compared to industry standards.
Why Choose m.Stock?
Positive Impact on P&L
Opening an account with m.Stock can directly benefit your profit and loss statement. With zero brokerage on equity delivery and just ₹5 per order across other segments, traders save significantly on costs while retaining more of their profits.
Margin Trading Facility (MTF) / Pay Later
m.Stock offers margin trading with funding of up to 80% and interest rates starting at 6.99% p.a. Covering more than 900 stocks, this facility is among the most competitive in the market. Traders also enjoy the flexibility of holding positions for an unlimited period.
Fast, Secure, and Reliable Platform
The platform is designed to deliver speed, stability, and security. Features like Watchlist PRO, Smart Order Form, Trade from Charts, Advanced Option Chain, and real-time personalised alerts help traders stay ahead of market movements and make quicker, smarter decisions.
All-in-One Trading Solution
With access to Trading APIs, market research, technical and fundamental data, expert guidance, and educational content, m.Stock provides everything an investor or trader needs in one place for a complete trading experience.
Pledge Shares
Traders can access up to 87.5% funding against pledged shares, with unlimited holding period. Instant margin is available on more than 710 stocks, and in case of shortfalls, the charge is only 0.027% per day.
Referral Program
m.Stock rewards users with ₹151 for every successful referral when a new Demat account is opened. There is no cap on referrals, and rewards are credited within 48 hours of account activation, ensuring fast and reliable payouts.
Trade like a Pro with cutting-edge tech
m.Stock equips you with advanced tools to help you trade smarter, faster, and more confidently:
- Free Trading APIs – Execute scalable trades with ease at just ₹5 per order.
- Options Strategy Builder – Access 30+ ready-made strategies or build your own, and place multi-leg orders in one click.
- Expert Research Calls – Receive timely insights across equities, futures, and options.
- Watchlist PRO – Buy or sell instantly with a single click from your customised watchlist.
- Smart Order Form – Place trades quickly with intelligent price and quantity suggestions.
- Trade Directly from Charts – Execute buy/sell orders in real time while tracking price movements.
- Advanced Order Types – Use GTT, basket orders, AMO, stop-loss, and more for smarter risk management.
m.Stock Brokerage and Other Charges
m.Stock offers zero brokerage on Equity delivery & ₹5 per executed order on Intraday, Futures, Options, MTF and Brokerage on Buy Back/OFS/Tender Offer/Delisting segments as per executed orders). Following are the m.Stock account charges:
| Features | m.Stock Account |
|---|---|
| Account Opening Charges | Zero |
| Demat Account AMC | Zero |
| Equity Delivery | Zero brokerage |
| Intraday | ₹5 per order brokerage |
| Futures | ₹5 per order brokerage |
| Options | ₹5 per order brokerage |
| Pay Later (MTF) orders | ₹5 per order brokerage |
| Mutual Funds (Direct Plan) | Zero Commission |
| Brokerage on Buy Back/OFS/Tender Offer/Delisting | ₹5 |
| IPO | Free |
| Currency | ₹5 |
Other Applicable Charges
| Category | Details |
|---|---|
| Payment Gateway Charges for Margin | UPI & Smart Pay Transactions are Free and in case of Net banking, charges will vary between ₹7 – ₹11 + GST depending on the bank selection. |
| Operating Charges | ₹219+GST per quarter |
| Account Modification Charges | Free |
| RMS Square off Charges | ₹100 per Executed Order + GST |
| Delayed Payment Charges | Interest is levied at 0.0493%/day on the debit balance in your trading account |
| Physical Document Charges, including Contract Note | ₹100 per Document Request + ₹100 Courier Charges |
m.Stock Transaction Charges
mStock offers Zero Brokerage on Equity Delivery, Mutual Funds, IPOs and ₹5 for all other segments.
| Charges | Equity Delivery | Equity intraday | Futures | Options |
|---|---|---|---|---|
| Call & Trade Charges | Zero | Zero | Zero | Zero |
| STT/CTT | 0.1% on buy & sell | 0.025% on the sell side | 0.02%% on sell-side | 0.125% of the intrinsic value on options that are bought and exercised 0.1% on sell side (on premium) |
| Transaction charges | NSE: 0.00297% BSE: 0.00375% | NSE: 0.00297% BSE: 0.00375% | NSE: 0.00173% BSE: 0.0325% | NSE: 0.03503% (on premium) BSE: 0.0325% (on premium) |
| GST | 18% on (Brokerage + transaction charges + SEBI charges) | 18% on (Brokerage + transaction charges + SEBI charges) | 18% on (Brokerage + transaction charges + SEBI charges) | 18% on (Brokerage + transaction charges + SEBI 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 Demat Account Charges:
m.Stock Demat account opening charges are ₹0.
| ID | Transaction | Demat Charges |
|---|---|---|
| 1 | Demat Account opening charges | Cost = No fees Zero brokerage on Delivery, Mutual Funds & IPOs. ₹5 brokerage on Intraday, F&O, Pay Later (MTF), Currency etc. ^Plus applicable charges |
| 2 | Dematerialisation Charges | ₹0 |
| 3 | Rematerialisation Charges | ₹0 |
| 4 | Physical Client Master Report Charges | NA |
| 5 | Courier Charges for Demat/Remat/Demat Rejn./CMR/DIS/ Any Periodic /Adhoc Statement | ₹100 |
| 6 | Pledge Shares – Pledge creation & closure charges | ₹0 |
| 7 | Unpledge/Closure/Invocation/Repledge Request for MTF orders and Pledge share facility | ₹32 + GST per PSN (Pledge Sequence Number) |
| 8 | Periodic/Adhoc Statement | ₹100 per request + ₹100 per courier |
| 9 | Failed/Rejected Instruction Charges | ₹0 |
m.Stock Refer and Earn:
The process of ‘Refer and Earn’ with m.Stock is:
- Open an m.Stock account.
- Refer friends and loved ones to m.Stock
- Your referred friend opens a free demat account.
- A referral reward of ₹151 will be credited to your m.Stock ledger within 48 hours
The referrer must simply share the referral link or enter their friend’s details in the ‘Refer & Earn’ section on the m.Stock web/trading app.
The referee will then use this referral link to open a free demat account. When the referee opens the account, a referral reward of ₹151 will be credited to the referrer’s account within 48 hours.
m.Stock Trading Platforms: Mobile App & Web Platform:
m.Stock trading platform is available on the website, on Google Play and in the App Store.
m.Stock Mobile App:
The trading experience offered by the m.Stock mobile app is quick, easy to use, and packed with features. A smooth interface makes it simple for users to invest in mutual funds, stocks, derivatives, ETFs, IPOs, and more. Features include configurable price alerts, Most Traded Data, real-time fundamental and technical data, and the ability to make orders with just one click using Watchlist PRO, Smart Order Form, and Trade from Charts. In addition to features like Pay Later (MTF), Pledge Shares, Trading APIs, Options Strategy Builder, Research, and Advice to help you level your trades and investments, the app is made to be easily navigable.
m.Stock Web Portal:
The mobile app is enhanced by the m.Stock web platform, which offers a more thorough and in-depth trading environment. With sophisticated charting tools, real-time market data, and in-depth research, it provides a dependable and safe platform. Features include configurable price alerts, Most Traded Data, real-time fundamental and technical data, and the ability to make orders with just one click using Watchlist PRO, Smart Order Form, and Trade from Charts. Designed for quick navigation, the web portal also includes offerings like Pay Later (MTF), Pledge Shares, Trading APIs, Options Strategy Builder, Research and Advice for you to level your trades and investments. The web interface makes it simple to invest in, track, and administer a variety of financial products.
m.Stock Account Opening Process:
m.Stock allows you to open a 2-in-1 account Demat and Trading account in just a few minutes. Following is the m.Stock account opening process:
- Click on “Open an Account” on m.Stock Mobile App or Web Platform
- Enter the mobile number and verify through OTP
- Enter your Email Address and verify through OTP
- Add the PAN Number and DOB.
- Take a selfie and click on Capture
- Signature
- Add your bank details IFSC, Bank account number,
- The Bank account is linked to your trading account
- Add the personal details
- Add a Nominee
- The equity segment is activated by default, if you want you can activate the Future and Options segment.
- Complete KYC using Digilocker
- Esign using Adhaar via NSDL
To watch the m.Stock account opening video, click here
m.Stock Margin Trading Facility – Pay Later (MTF)
For investors who want to leverage their portfolio with little initial investment, m.Stock’s Pay Later (MTF) option, which is available on more than 900 approved equities, provides an affordable option. With m.Stock’s Margin Trading Facility, Pay Later (MTF), you can purchase stocks with as little as 20% of your initial investment. m. Stock finances up to 80% of the stock value, which enables you to make larger investments with less capital.
Let’s see the key features of m.Stock Margin Trading Facility – Pay Later (MTF).
Key Features of m.Stock Pay Later (MTF):
- Lowest Interest Rate in the industry: Interest rates start at 6.99% p.a. or 0.019% per day above ₹5 crore, 0.027% per day from ₹25 lakh to 5 crore, 0.041% per day up to ₹25 lakh funding which is significantly lower than the industry standard of up to 18%.
- Unlimited Holding Period: No cap on holding period, offering greater flexibility compared to brokers that limit it to 365 days.
- High Funding: Get up to 80% funding of stock value instantly, higher than the industry norm of 50%-70%.
- Wide Stock Selection: Trade from over 900 approved stocks available for MTF.
- Pre-Pledge Option: Save time and reduce interest costs with the pre-pledging feature for quicker transactions.
- Zero Subscription Fees: No subscription or hidden fees, while other brokers may charge up to ₹10,000.
m.Stock MTF Charges:
| Funding Value | Interest Rate |
|---|---|
| Above ₹ 5 crore | 0.019% per day |
| ₹25 lakh to ₹5 crore | 0.027% per day |
| Up to ₹25 lakh | 0.041% per day |
- Pledge and Unpledge Charges: Charges for pledge creation and unpledging your shares are ₹32 per request.
- Subscription charges: Pay Later (MTF) facility is included for free with your m.Stock Demat account.
- Brokerage: ₹5 per executed order
m.Stock Pledge Shares:
With m.Stock’s Pledge Shares feature, traders can obtain immediate trading margin by using their current equities as collateral. It’s similar to taking out a loan against your stock holdings without really selling any. You can trade more than you typically could because to this additional margin, which makes it possible to make larger and possibly more lucrative trades.
Below are the main advantages of the pledge option at m.Stock:
Key Benefits of the m.Stock Pledge Shares Offering:
Up to 87.5% Instant Funding
Enhance your trading power by pledging shares and receiving up to 87.5% of their value as margin, helping you take larger positions with ease.
No Holding Period Restrictions
Margins generated through pledged securities can be maintained indefinitely, offering traders greater freedom in managing and holding positions.
Wide Stock Selection
Access margin by pledging from over 650 approved stocks, providing a broad range of choices to strengthen and diversify your portfolio.
Competitive Interest Rates
Interest is charged at up to 0.027% per day, which amounts to roughly 9.99% annually (for the portion beyond 50% funding).
Zero Pledge Charges
Enjoy cost-efficient trading with no fees for pledge creation or closure.
Advantages:
- Free Trading Benefits: Enjoy zero charges on Delivery, IPO, Buyback, and Mutual Fund transactions.
- No Account Costs: Open and maintain your account without any fees.
- Call & Trade at No Extra Cost: Place orders over the phone with zero charges.
- Low MTF Interest Rates: Daily rates as low as 0.0192% (6.99% p.a.) with unlimited holding period, and margin funding of up to 80%.
- Affordable Share Pledging: Avail funding on pledged shares at 9.99% p.a. (0.027% per day) for shortfalls beyond 50%.
- Capital-Free Delivery Trades: Combine pledged shares with Pay Later (MTF) to make zero-capital delivery trades.
- Free Trading APIs: Access fast APIs with no setup or recurring costs, capable of executing up to 30 orders per second.
- Options Strategy Builder: Use 30+ pre-set strategies or create and test customised multi-leg strategies with easy tracking.
- Expert Research Support: Receive timely calls and insights across Equity, Futures, and Options.
- Refer & Earn: Get ₹151 per successful referral under exciting reward plans.
- Dedicated Assistance: Access quick support via phone, in-app help, or email.
Disadvantages
- NRI Services: Trading and account opening facilities are not available for NRIs, HUFs, minors, or joint account holders.
- Commodities Segment: Commodity trading is not offered.
- Banking Integration: A 3-in-1 account facility is unavailable, as the platform does not provide banking services.
FAQs about m.Stock Platform Review
What is m.Stock Pay Later (MTF)?
By borrowing funds from the broker, consumers can purchase stocks through m.Stock’s Margin Trading Facility (MTF) or Pay Later (MTF). Traders can get up to 80% financing for more than 900 stocks with m.Stock at an interest rate of just 6.99% per annum over ₹5 crore.
Your interest rate will be 9.99% per annum if you are looking for finance between ₹25 lakh and ₹5 crore, and 14.99% per annum if you are looking for funding up to ₹25 lakh.
The Pay Later (MTF) approach is highly competitive since it allows customers to take advantage of one of the lowest interest rates in the market by pledging shares prior to purchasing and placing an order. The shares have an indefinite holding period and no further fees.
Is m.Stock account free?
For ₹0, m.Stock Broker provides a regular plan that includes free share delivery. For other segments, such as intraday, futures, and options, broking fees are ₹5 per executed transaction. Depending on the plan and kind of transaction, additional fees, like taxes and transaction fees, can be applicable.
What is m.Stock?
Mirae Asset Capital Markets (India) Pvt Ltd established the online stock trading platform m.Stock in 2022. It provides a range of investing choices, such as direct mutual funds, equities, currencies, and initial public offerings.
With a peak average of over 28,000 transactions per day, m.Stock provides investment calculators, margin trading, and a smooth account opening process.
Is m.Stock a discount broker?
m.Stock offers zero brokerage for Equity Delivery, Mutual Funds & IPO, and a brokerage of ₹5 per executed order for intraday, F&O and MTF trades.
What are the charges of Trading APIs with m.Stock?
With automated order placing and execution, real-time market data feeds, and effective algorithmic strategy implementation, trading APIs simplify the use of trading platforms. You may execute trades considerably more effectively and dependably using these APIs, which also offer faster execution, customisation, and scalability. For developers, algo traders, and active investors who want to improve their performance by taking advantage of market opportunities, APIs are perfect. For further details, you can contact m.Stock on [email protected] You can integrate and start trading with m.Stock trading APIs at ZERO cost.
Does m.Stock offer Mutual Funds on their platform? What are the charges?
In India, mutual funds are offered in two formats – Regular and Direct plans. Regular plans are routed through advisors or distributors, where the commission or advisory fee is built into the scheme’s Net Asset Value (NAV). In contrast, Direct plans are bought straight from the asset management company, avoiding intermediary costs. This cost difference lowers the expense ratio of Direct funds, making them more efficient compared to Regular plans. As a result, Direct funds generally deliver higher in-hand returns. On the m.Stock platform, you can invest in Direct Mutual Funds and potentially earn up to 1% extra returns on your investments.
How does Pledge Shares work on m.Stock and what are the interest charges?
When you pledge your shares or ETFs, m.Stock provides an instant credit of margin in your ledger. Orders for Intraday, Futures, and Options (writing/selling only) can be placed using this extra margin. You can even use margins received under Pledge Shares and take fresh positions under Pay Later (MTF) and enjoy unlimited holding period. Learn how to trade with no money. When using pledge shares for intraday trading, m.Stock does not impose interest charges. Unless there is a margin deficiency, there is no interest charged on F&O trades. An interest rate of only 0.0274% per day is applied in the event of a margin shortage.
What is the benefit of investing in IPOs with m.Stock?
m.Stock offers ZERO brokerage on IPO investments. Some key advantages of investing in IPOs include:
1. Early Entry: Get access to company shares at their initial issue price before they start trading in the open market.
2. Growth Potential: Many IPOs have historically delivered strong price gains soon after listing, rewarding early investors.
3. Access to Emerging Companies: Invest in businesses at the beginning of their public journey with possible long-term growth prospects.
4. Liquidity & Visibility: Publicly listed companies enjoy higher visibility and liquidity, making their shares easier to trade.
5. Portfolio Diversification: Adding IPOs lets you explore new sectors and companies, helping balance and diversify your investments.
How does m.Stock charge interest on availing Pay Later (MTF)?
Interest will be assessed on the gross financed amount for the duration of your employment under m.Stock Pay Later (MTF). Therefore, the applicable 0.0411% daily interest rate will be levied for two months on a pro rata basis if your funding amount is ₹25 lakh and you retain the position for two months.
How do I get started on m.Stock?
To start trading on the m.Stock App, you have to open an m.Stock Demat and trading account (this will take you less than 5 minutes)**. You can also download the m.Stock app from Play Store or App Store and start your account opening journey from the app. Upon successful completion and documentation, your account will be approved and operational within 24 hours. Login to the m.Stock App with the login credentials sent on your registered mobile and email id and start investing or trading.