m.Stock is a discount broker platform by Mirae Asset, a leading Asset Management Company. It is considered the best stock broker in India. You can invest in various segments like equity, commodity, currency, futures, and options through m.Stock. It also provides a fast and stable app and web platform, free research and advisory services, and zero call and trade charges.
- No brokerage fees: You can trade and invest in various products without paying any brokerage fees with m.Stock, saving you money on every transaction.
- Easy to use: The app has a simple and user-friendly interface that lets you navigate and trade with ease.
- Fast and efficient: m.Stock’s platforms are fast and efficient, allowing you to execute orders quickly and capture market opportunities.
- Diverse products: It offers a diverse range of products, such as stocks, mutual funds, derivatives, and more, helping you diversify your portfolio.
- Safe and reliable: It ensures the security and stability of its platforms, providing you with a safe and reliable trading environment.
Pros and Cons
- No brokerage: Trade and invest in various products without paying any fees, saving money on every transaction.
- Fast and stable: Enjoy a seamless trading experience with fast and stable platforms that support quick order execution and real-time updates.
- Diverse products: Access a wide range of products, such as stocks, mutual funds, derivatives, and more, to diversify your portfolio.
- Easy account opening: Open a trading and Demat account online and access your account from anywhere at any time.
- Great customer experience: Get a user-friendly interface and a responsive support team to assist you throughout your trading journey.
- Speed and stability: mStock promises super-fast platforms that can handle thousands of orders per second, but some users have reported occasional glitches or slow performance. These technical problems can affect the user experience and cause missed trade opportunities.
Account Opening Fees
You can open an account with m.Stock for free. However, if you want to enjoy zero brokerage for life, you can opt for the one-time Zero brokerage plan during the account opening process. This plan requires you to pay ₹999 when you open a demat account. You can also get zero AMC charges for life by paying ₹999. Once you have the Zero brokerage plan, you can trade and invest without paying any brokerage fees.
How to open an m.Stock account?
You can open an account with m.Stock online in a few simple steps:
- Go to the m.Stock website: Search for “mStock” on your preferred search engine and visit their official website.
- Click on “Open an Account”: Find the “Open an Account” button on the homepage and click on it to go to the account opening page.
- Enter your personal information: Provide your personal information, such as your name, email, phone number, and date of birth. Make sure the information is accurate for verification purposes.
- Provide additional details: Provide additional details, such as your address, citizenship, and employment status. This information is required to comply with regulatory requirements.
- Choose your account type: Choose the type of account you want to open, such as an individual, joint, or corporate account.
- Agree to the terms and conditions: Read and understand m.Stock’s terms and conditions and check the box to agree to them.
- Submit your application: Click on the “Submit” button to send your application to m.Stock.
- Verification and approval: m.Stock will verify your application and approve your account. You will receive a confirmation email once your account is ready. Then you can log in to your account with m.Stock login details.
To open a demat account on m.Stock, you will need the following documents:
- Aadhaar card
- PAN card
- Address proof (such as passport, voter ID, or driving license)
m.Stock trading platforms
m.Stock platform: This is mStock’s main trading platform and has a great interface and a smooth onboarding process. Customers can start trading in less than 5 minutes. It has a user-friendly interface and many features for ordering and tracking investments.
Mobile app: m.Stock’s mobile app lets traders access their accounts anywhere, providing real-time market data, order placement, and portfolio management features. The app works on both Android and iOS devices, offering convenience and flexibility to traders.
m.Stock brokerage charges
Zero Brokerage Account at 2999
|Mutual Fund||Rs. 0|
|F & O||Rs. 0|
Free delivery account
|Mutual Fund||Rs. 0|
|F & O||Rs. 20|
DP (Depository participant) charges: When you sell securities, you have to pay ₹12 + GST per ISIN per transaction per day. This is the charge levied by CDSL and m.Stock.
Pledge creation and closure charges: If you have opted for the ‘Lifetime free AMC’ plan, you have to pay ₹25 per Pledge Sequence Number (PSN) per day (+GST) for creating or closing pledges. If you are on the standard quarterly AMC plan, the charge is ₹32 per PSN per day (+GST).
AMC (Annual maintenance charges): You can avoid AMC charges by choosing the one-time ₹999 free AMC plan. Otherwise, you have to pay ₹120 + 18% GST per quarter under the standard quarterly AMC plan.
Transfer out charges: If you want to transfer out securities from your m.Stock account, you have to pay a fee of ₹20 per transaction or 0.50% (whichever is lower).
m.Stock has received positive reviews from customers and experts, who have rated it highly for its fees, usability, and features. m.Stock has an overall rating of 4.3 out of 5, and a fee rating of 4.7 out of 5.
m.Stock Review: Verdict
m.Stock is a new and innovative platform for investing and trading in the Indian stock market. It is backed by Mirae Asset, a leading global asset management company. m.Stock offers a range of benefits for both investors and traders, such as:
- Zero brokerage for life on all segments, including IPO, stocks, F&O, mutual funds, and currency.
- No hidden charges, such as call and trade fees, DP charges, AMC charges, or transfer out charges.
- Access to direct plans of mutual funds, which can save you up to 1.5% in commissions every year.
- One-click IPO application, which simplifies the process of applying for new issues.
- Smart calculators, trading charts, and fundamental and technical data help you make informed decisions in the market.
- Educational resources, such as videos, articles, and webinars, help you learn more about the market and improve your skills.
m.Stock is a platform that caters to the needs of both beginners and experts in the stock market. It provides you with a user-friendly interface, a secure and fast trading platform, and a variety of investment options. Whether you want to invest for the long term or trade for the short term, m.Stock is the platform for you.
To conclude, m.Stock is a promising platform for investors and traders who want to enjoy zero brokerage and a simple and fast trading experience. However, it may not be suitable for those who need more guidance, research, and diversification in their investments. If you are interested in trying m.Stock, you can visit their website and open an account online by following the above-mentioned steps.
FAQs – mStock Review
1. Is m.Stock a reputable brokerage platform?
Ans. m.Stock proves to be an excellent choice for novice investors. Its user-friendly interface is highly commendable, and the quality of its data and comparison charts is outstanding.
2. Is m.Stock SEBI registered?
Ans. m.Stock is a SEBI-registered broker, facilitating the quick opening of a Demat account in just minutes.
3. Is m.Stock suitable for experienced investors?
Ans. Yes, both beginners and experienced investors can use m.Stock.
4. What are the different segments in which you can invest using m.Stock?
Ans. You can invest in various segments, including Equity, Commodity, Currency, Futures, and Options through m.Stock.
5. What are the fees for opening an account with m.Stock?
Ans. You can open an account with m.Stock for free, or opt for the one-time Zero brokerage plan by paying ₹999 during the account opening process.
6. How can I open an account with m.Stock?
Ans. To open an account with m.Stock, visit their official website, provide personal information, and additional details, choose your account type, agree to terms and conditions, submit your application, and await verification and approval.
7. Are there any additional fees or charges apart from brokerage fees with m.Stock?
Ans. Yes, m.Stock charges DP (Depository participant) fees, pledge creation and closure charges, AMC (Annual Maintenance Charges), and transfer-out charges.
8. How can I access the m.Stock Brokerage Calculator?
Ans. To access the m.Stock Brokerage Calculator, visit the m.Stock website or app. It is typically available as a feature within the platform. It allows users to calculate brokerage fees, taxes, and other charges for their trades.