mStock Review – Zero Brokerage, Demat A/C, Trading Platforms & More

Last updated on September 18, 2023

m.Stock was launched by Mirae Asset in April 2022, with a ground-breaking proposition of absolutely Zero Brokerage for Life – across Intraday, Delivery, and F&O trades. Lets have a look on this complete mStock review to know their brokerage charges, demat account, trading platforms, products and 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.

mStock review

m.Stock is revolutionising the Indian brokerage space by offering Zero Brokerage across all trades – Delivery, Intraday, and F&O. This is in contrast to industry standards of charging a very high flat fee or % brokerage for Intraday and F&O trades.

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 Brokerage Charges – No Hidden Charges

Charges Equity Delivery Equity intraday Futures Options
Brokerage Zero Brokerage Zero Brokerage Zero Brokerage Zero Brokerage
Call & Trade Charges Zero Charges Zero Charges Zero Charges Zero Charges
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 Account related Charges

  • Account Opening charges – ₹ 999
  • Account Maintenance charges- Free
mStock review

Product & Services Offered by m.Stock Broker

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 app 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

Top Features of m.Stock

  1. 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

Overall Rating 4.3/5
Customer Service4.1/5

Benefits of Stock Trading with M stock

In this m stock review you see that m stock is first broker that brings zero brokerage for life concept. Apart from this Trading with m stock can offer several potential benefits –

  • Firstly, if the company demonstrates strong financials, you might enjoy capital appreciation as the stock price rises over time.
  • With M stock Engaging in well-timed trades can also yield short-term gains.
  • Trading with m stock allows you to diversify your investment portfolio, reducing risk. The stock’s liquidity ensures easy buying & selling.
  • By staying updated on company news and market trends, you can capitalize on market movements.
  • They offer advanced trading platforms with real-time data, charts, and tools for analysis, aiding informed decision-making with zero brokerage concept.

However, remember that trading involves risk; gains aren’t guaranteed, and losses can occur. Careful research, strategy, and risk management are essential for successful stock trading with m stock or any other.

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.

Pros & Cons of m.stock broker

Some of major pros and cons of m.stock broker are listed in this m stock review below:

Pros –

  • Considered among the leading low-cost discount brokers in India
  • Two affordable brokerage plans – Rs. 149 and Rs. 999
  • Life-time free brokerage
  • Free demat account with no AMC charges
  • Lucrative cashback with its refer and earn demat account scheme
  • Vast range of investment products
  • Easy registration process
  • Easy IPO application process
  • Mobile trading app with an easy and smooth user interface, suitable for both seasoned traders and also a beginner
  • Reliable market data and financial ratios for fundamental analysis with nearly 100 indicators and 7 different chart types for technical analysis, suiting both an investor and a trader
  • Fund transfer to various banks
  • Easy to access customer support

Cons –

  • Weaker offline presence
  • No opportunity to trade or invest in agricultural commodities
  • Comparatively higher AMC of ₹120 per quarter
  • A fresh entrant in the field of discount broking as compared to others

m.Stock Trading Platform

m.stock has an innovative and smart trading platform that can be accessed both laptops, desktop, and tablets. We are added information about their trading platform also in this mStock review. M stock mobile trading app by Mirae assets is full of smart features that make mutual fund investment relatively easy, quick, and effective.

Some of the major features of m.Stock trading platforms are:

  • 1 click order placement
  • Unmatched platform stability
  • Onboarding in just 5 minutes
  • Smart calculators for faster decision making
  • Trading charts with buy / sell feature
  • Fundamental & Technical Data analysis
  • Voice-based stock search
  • One screen view for the entire portfolio
  • Live portfolio with smart actions
  • Get up to 7 watchlists with 50 stocks each
  • Custom price alerts
  • Advanced order placement choices
  • Smart interface with unmatched features
  • 71% active clients

m.Stock Additional Charges Review

  • 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 lakhs9.49%
₹ 10 Lakhs – ₹ 25 Lakhs 8.99%
Above ₹ 25 Lakhs7.99%

The best part is that m.Stock charges Zero subscription fees for eMargin against industry average of ₹ 10,000.

  • 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.

  • Failed Instruction Charges

A charge of ₹50 per instruction will be applied in case of failed instructions.

  • Account Closure Charges

No charge will be applicable for account closure.

Conclusion – mStock 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!

FAQs related to mStock Review

  1. Is M stock trustworthy?

According to our above M stock review, M stock is reliable. It functions as a division of Mirae Asset Securities India Private Limited, a reputable provider of financial services with more than 20 years of expertise in the Indian market. M stock is also registered with SEBI, guaranteeing compliance with strict regulatory norms and control.

  1. Is the M stock app good?

Research undertaken during our mstock review shows that most user feedback on the M stock app is favorable. It has a straightforward and advanced user interface and features, including real-time market data, charting tools, and order execution capabilities. However, a few users have noted irregular app issues, which is quite normal with any app.

  1. Is M stock registered with SEBI?

Yes, M stock is SEBI registered. Such regulatory affiliation demonstrates the company’s dedication to adhering to and following the strict criteria the regulator sets, protecting investors.

  1. Is M stock free?

M stock is a desirable alternative since it offers lifetime commission-free trading on all delivery trades. However, additional costs include an initial account opening fee of INR 999, a monthly maintenance fee, and fees for intraday trading. Other services like margin finance and research reports could also have additional costs.

  1. Is M stock good for trading?

During our research for the m.stock review, we discovered that M stock is a good option for many traders looking for a low-cost brokerage with a comprehensive feature set. The zero-fee offer is incredibly enticing to aggressive traders.

  1. Who is the owner of M stock?

Mirae Asset Securities India Private Limited, a well-known South Korean financial corporation with over USD 500 billion in assets, owns M stock.

  1. Is the M stock app safe?

Thanks to its regulation as a broker and affiliation with a financially stable parent company, it has a solid base. Hence, we recommend that investors consider M stock as a safe investment. However, regardless of the brokerage used, it’s crucial to understand that stock market investing entails inherent dangers.

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