mStock Review – Brokerage, Demat Account, Trading Platforms

M Stock is considered among top discount brokers in India. It has become extremely popular due to its zero brokerage across Delivery, Intraday, and F&O trading. It is the competitive pricing strategy of the discount broker that gives it an edge to investors and traders who want to save on brokerage. Mstock is an active member of BSE, NSE, and MCX and offers a wide range of trade and investment services across equity and currency segments. Other than this, the discount broker also enables investors to invest in IPOs.

Another wonderful feat of M Stock is to touch the figure of nearly 10K clients in a period of just 6 months after the launch. The financial company has only lately entered the stock market domain and is moving slowly, but it has already established itself as a market leader in mutual fund services. Currently, 35 million mutual fund consumers in India and the firm looks after over 100 AUMs.

In addition to having excellent and reasonable prices, it also provides trading and investment facilities through its own trading platforms across different market categories. M Stock provides a margin trading option at an extremely low interest rate, which intends to make margin trading amazingly accessible for the traders.

M Stock was launched in April 2022 by Mirae Asset, a leading asset management company. The financial organization has a tremendous presence in Indonesia and South Korea. M. stock is an initiative by Mirae Asset to restructure the Indian stock broking space by launching zero brokerage model. The company has 25 years of global market expertise which gives the firm a leverage that is much needed to make a promising present in the finance space.

From its competitive brokerage plans to advanced trading platform, excellent customer services, mstock aspires to become a pioneer in the discount broking space.

MStock Products & Services

• Equities
• Futures & Options
• MTF (eMargin)
• IPOs
• Currency Trading
• Commodity Trading
• Exchange Traded Funds
• Mutual Funds (upcoming)
• Index Baskets

Major Benefits of mStock

• One of India’s most popular discount brokers, with affordable brokerage plans
• No lifelong brokerage
• Demat account without cost; free of AMC fees
• An Rs.149 plan that enables you to try out a stockbroker at a discounted rate before enrolling in the 999-rupee plan.
• Exciting cashback with its demat account referral programme
• Offers a variety of investment products.
• Simple onboarding procedure
• Easy application procedure for IPOs
• An application with an easy-to-use UI that is appropriate for both experienced and new traders
• Dependable market data, financial ratios, and nearly 100 indicators with seven distinct chart formats for technical analysis
• Easy fund transfer
• Reasonable customer service

M Stock Account Opening

To avail the discount broker’s services, the first and foremost thing to do is to open a Demat account with m.Stock. m.Stock’s account opening procedure is quite easy and fast. It just takes a few minutes of yours as you simply need to pay the applicable amount and verify the furnished information.
However, it is necessary for you to understand the procedure of opening a Demat account and applicable charges before proceeding further.

Opening A Demat Account with m.Stock

There are 4 simple steps that you can follow to open a Demat account with m.Stock.

• Verify the furnished mobile number through an OTP
• Verify the PAN number, address, DOB and identity through various documents
• Choose the plan and make the payment accordingly
• Add and link a bank account

After the verification process is done, you need to login to the m.Stock app and start trading. For account activation, submit a few docs to get the account activated.
These documents are:

• Identity Proof – PAN Card, Voter ID Card, Driving License, Aadhaar Card
• Address Proof – Utility Bill, Aadhaar Card, Ration Card
• Bank Account Proof – Passbook, Cancelled Cheque
• Income Proof – Salary Slip, ITR Form, Account Statement

mStock Charges

There are basically four types of charges levied by the discount broker. They are:

• Account Opening Charges
• Brokerage
• Demat AMC Charges
• DP Charges

Demat Account Charges

m.Stock offers two plans with different charges. So you choose the one and pay the amount upfront to open the account and start trading.
The first plan levies a charge of Rs. 999 at the time of account opening with trading without any limitations across all segments.
The second plan has a charge of Rs. 149 with a brokerage of Rs. 20 per trade across all segments except equity delivery which has 0 brokerage.

mStock Brokerage

As we already know, M Stock has developed two brokerage plans. The zero brokerage for life plan exempts traders who trade with M Stock from paying any brokerage fees at all. To activate this plan, one has to deposit a one-time subscription fee of 999.

The brokerage for delivery trading is completely free under the other plan, which has a membership charge of 149, but a trader must still pay 20 per completed order as the brokerage for other trading segments.

DP Charges

On a daily basis, the sell side of mStock imposes DP Charges on one scrip. Therefore, if the shares of one firm are sold in a single day, regardless of the amount of shares an M Stock customer sells, they will be required to pay 12+ GST as DP costs.

For instance, the DP fees for selling 25 shares of XYZ on August 17 will cost you $12 plus GST. You would continue to pay the same DP charge even if you sold one share of the same business.
DP Charges – Rs. 12 per scrip per day

Other Charges

Pledge Charges

m Stock’s pledge charge stands at just ₹12 + GST per scrip, against an industry average of ₹ 29 per scrip.

Mutual Fund Charges

Now choose from 5K+ direct mutual funds and invest at zero cost.

DP (Depository Participant) Charges

For sell transactions, DP charges of ₹12 + GST per ISIN per day will be levied by CDSL & mStock.

Off-market Transfer Charges

0 transfer-in charges, however, ₹ 20 or 0.50%, (whichever is lower) will be levied on transfer-out transactions.

Delayed Payment Charges

Interest is charged at 18% p.a. or 0.05% daily on the debit balance in your m.Stock trading account.

Physical Client Master Report (CMR) Request

With m.Stock charges zero cost for the first CMR request. For the following requests, a nominal charge of ₹ ₹20 + ₹100 (courier charge) + 18% GST would be levied.

Payment Gateway Charges – Margin Fund Transfer

UPI Transactions come at 0 cost whereas Net Banking charges usually vary between ₹7 – ₹11 + GST given the chosen bank.

Physical Statement Courier Charges

The courier charges for physical account statement are ₹100 per application combined with extra ₹100 per courier

Dematerialisation Charge per certificate

To transform your physical share certificates into Demat form, a charge of ₹150 per certificate and an additional ₹100 courier charges is applicable.

Rematerialisation Charges

Rematerialisation charges of ₹150 per certificate + ₹100 courier charges + CDSL Charges are levied by m.Stock.

Failed Transaction Charges

A charge of ₹50 per instruction is levied for failed instructions.

Reactivation Charges

0 charges for account re-activation.

Account Closure Charges
0

GST on Brokerage, DP Charges

The standard GST rate of 18% is levied on Brokerage, DP charges, Exchange Transaction charges and Auto Square-off charges.

Physical Delivery of Derivatives

m.Stock levies nominal brokerage of 0.05% of the contract value in case of physical delivery.

Other Charges

₹40 per position is levied in the form of RMS square-off-charges for open intraDay positions

Exchange-defined penalty is levied if you are unable to deliver a stock (not in Demat) and it is chosen for auction.

Major Offerings of m.Stock Mobile App

Total no. of Downloads – 5 Million+ User Rating – 4.1/5 Total no. of Reviews- 16K

• Track and monitor up to 7 watch lists with an optimum limit of 50 stocks in every watch list
• Simple tracking of P&L anytime through the portfolio section
• 7 different types of charts and nearly 100 indicators
• Fast and easy technical analysis
• Pre-designed index baskets feature, for the placement of multiple orders in a single click
• Simple tracking of your orders and positions through the corresponding tabs
• Easy funds transfer through the UPI and Net Banking
• Relevant market data for both basic and technical analysis, matching the specific both the investors and traders
• Due to the presence of Limit Order, Market Order, SL-M Order, SL-Limit Order, and After Market Order, different types of orders are available to choose from.
• IPO investments available

mStock Margin Trading

Margin trading allows traders to obtain specific leverage from the stockbroker of up to 80% at a low-interest rate of 7.99%.

In contrast to the 365-day holding period that many brokers provide, this option is accessible for more than 700+ equities.

mStock Refer and Earn

m.Stock also gives its customers a chance to generate passive income through a refer and earn program. The existing clients of M Stock who recommend the stockbroker to friends, family, or anyone else they know are entitled to get a cashback of 333 rupees (up to a maximum of 15,000 rupees a month) into their M Stock accounts that can be withdrawn at any time.

The stockbroker does, however, provide both the referrer and the referee a payback of 149, which is subtracted from the 999 account opening charge.

It should be noted that in order for M Stock’s refer and earn program to function, a 999 plan account must be started using either the referral link supplied by the referrer or the account opening link sent to the referee by M Stock when their friend’s data are revealed to the brokerage.

Refer & Earn Cashback

mStock Customer Care

Customer service is undoubtedly one of the most important factors to consider when evaluating a stockbroker because, no matter what, a customer or customers will inevitably run into problems while using the broker’s services. The way in which a broker handles the arising problems demonstrates how highly the clientele is valued.

There is a toll-free line and an email address where people can ask questions and receive critical assistance from m.Stock. The live chat feature is not yet available.
There are three alternatives to choose from, and given availability, the call to toll-free number is linked to a professional in just a few minutes.

Toll-free Customer Care No. – 1800 2100 818
Email – help@mstock.com

How is mStock for beginners and seasoned investors?

According to stock trading experts, m Stock is a perfect choice for both new as well as experienced traders and investors.

For New Investors

M.Stock is found to be the most sought-after stock trading partner for inexperienced stock market investors and traders thanks to its smart yet simple user interface. For newcomers to the market, advanced tools like one-click order placement, voice search, and pre-designed index baskets are simply awesome.

In addition, m.Stock mobile app and web portals come with high levels of scalability and reliability, simple interface, and bank-grade security that make it a winning option for both novice and experienced traders.

For Seasoned Investors and Traders

With m.Stock’s Zero brokerage plan, which is inclusive of crucial trading inputs and the swiftest, steadiest, and best-in-class trading technology, a high-end trader stands to win across all aspect of stock trading. A range of elements like advanced charts, fundamental analysis, technical data, sophisticated order types, historical market data, seven pre-made watchlists, and a single screen portfolio are make stock trading amazingly smoother for traders and investors.

Conclusion

Despite the recent launch of m.Stock, the discount Stock broker make a prominent position of itself among stock traders and investors. This is because of the attractive and aggressive brokerage strategy of the discount broker combined with excellent customer care.

Experts think that it may take some time for investors to show complete reliability of this new discount broker. This mStock broker review is intended to help traders and investors in deciding whether they should associate with m.Stock for their stock trading needs.

FAQs – mStock Review