Know everything about mStock review here. A South Korean global financial giant, Mirae Asset officially entered the Indian broking market by establishing mStock in 1997.

Park Hyeon-Joo founded this Mumbai-based “zero brokerage for life” offering brokerage house.

Besides India, the firm operates in Indonesia, China, Brazil, and the United States. Talking about mStock Review, the firm acquired over 56,000 active clients in just 26 years.

Moreover, it has already captured a significant share of the mutual funds market by managing 100+ AUMs with 35 million+ Indian customers investing in mutual funds.

This article will walk you through mStock Charges, trading platforms, SWOT analysis, customer complaints, and many other sections.

Broker Type Discount Broker
Active Clients 56,000+
Account Opening Charges Rs.149
AMC Rs.999
Delivery Charges Free
Intraday Charges Rs.20 per Trade

mStock - Company Overview

Company Type

Private

Headquarters

Mumbai

Founder

Park Hyeon-Joo

Establishment Year

1997

Why Trade or Invest with mStock?

Opening a mStock Account is perfect for seasoned as well as novice stock market newbies as they can gain the following:

  • Traders can access firms’ zero brokerage plans with top-notch trading technology.
  • Customers can trade or invest in stocks, mutual funds, futures and options, IPO, and currency via mStock’s trading platforms.
  • You can access a highly liquid currency market without paying a penny.
  • Margin trading facility is available at very pocket-friendly interest rates.
  • mStock enables its existing clients to refer and earn. They can retain a cashback worth Rs. 333 for each referral.
  • The brokerage house has a simple onboarding and IPO application process.

mStock Brokerage Charges

Brokerage Plan

Zero Delivery Plan

Subscription Charges

Zero

Equity Delivery

Free

Equity Intraday

Rs.20 per Trade

Equity Future

Rs.20 per Trade

Equity Option

Rs.20 per Trade

Commodity Future

NA

Commodity Option

NA

Currency Future

Rs.20 per Trade

Currency Option

Rs.20 per Trade

Before further reviewing the mStock, let’s understand the mStock Brokerage charges.

As discussed above, this Mumbai-based brokerage house offers a ‘Zero Delivery’ brokerage plan with no subscription charges. Since the firm is brokerage-friendly, it provides cost-free Equity Delivery.

Furthermore, it charges Rs. 20 per Trade for Equity Intraday, Equity F&0, and Currency F&O.


mStock Calculator

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How to Open mStock Demat Account?

To avail of mStock’s financial services, you must open a mStock Demat Account following a super quick and easy process:

  1. Step 1 is to fill up and submit the below-displayed form.
  2. Next, you will get a call from an executive & they will share an account opening link for the online KYC process.
  3. Verify your details, PAN number, and identity proof via the necessary documents.
  4. Pay Rs.149 as Demat account opening charges after selecting the suitable payment mode.
  5. Add and link your bank account and complete your profile.
  6. Once verification is done, the firm will activate your Demat account within a day.

Types of mStock App, Trading Platforms & Tools

Web Trading Platform

Trading Terminal

NA

Algo Trading Platform

NA

Foreign Stocks Trading Platform

NA

Basket Trading Platform

NA

Mutual Fund Investment Platform

Available

Digital Gold Investment Platform

NA

Bonds Investment Platform

NA

mStock App and trading platforms are developed using a scalable technology featuring a simple and convenient interface along with bank-grade security.

Both new-age and experienced traders can access Android and iOS apps. You can also leverage a web trading platform for margin trading facility, equity trading, and investing in IPOs, Futures & Options.

Additionally, the organization offers a different mutual fund investment platform.

mStock App, Trading Platforms & Tools - Features

Wishlist

Yes

Real Time Updates

Yes

Portfolio Details

Yes

Online MF Buy

Yes

Research Reports

No

Global indices

No

Customised Recommendations

No

Stock tips

Yes

Interactive charts

Yes

Live market

Yes

Multi Profile Management

No

Robust & Secure Platform

Yes

Regarding mStock tools, clients can use the brokerage house’s web portal and app. Here is the mStock Review of both tools:

mStock App

mStock is among the best trading apps you can access in India. With an overall rating of 4.5 stars, approximately 50,000 individuals have downloaded the Share Market Trading app.

Let’s discuss the features of the mStock app:

  • Seize real-time stock market trading opportunities with single-click order placement.
  • 7 watchlists, each capable of tracking and monitoring up to 50 stocks.
  • Option chain analysis with real-time strike prices and open interest data.
  • One view portfolio to build a trading portfolio and monitor investments and P&L.
  • Pre-designed index baskets, letting traders place an order with one click.
  • Advanced charts to analyze market conditions in real time.
  • Advanced Order Options, including 2-legged cover orders, After Market Orders (AMO), etc., in a single click.
  • You can set the price alerts for the stocks you want to trade or invest in.
  • View live tick-by-tick market data for indices, contracts, and stocks.
  • Voice Assistant MIRA can buy, track, sell, and navigate financial instruments.
  • High FII/DIII flows can help view, study, and analyze stocks and make better investment decisions.
  • You can search and trade from 5,000+ stocks collection on the exchange using the Quick 1 Click Search feature.
  • A superior Margin Trading Facility is available.

mStock Web Portal

mStock delivers the best-in-class trading and investing experience with an intuitive user interface and bank-grade security features:

  • Superfast 1-Click and Voice Search features allow placing orders in one click.
  • Smooth processing with a stable platform.
  • Traders and investors can leverage Global Expertise for technology support.
  • Innovative calculators, fundamental data, and technical charts are available to aid traders in data-driven decision-making.
  • Info-rich screens update the complete portfolio.
  • Additionally, you can access customized price alerts and 7 watchlists.

mStock Offers

Free Account Opening

No

Free AMC

No

Free Brokerage

Yes, Limited

Flat Brokerage

Yes

Flexible Brokerage Plans

Yes

Happy Trading Hours

No

Free Delivery Trading

Yes

Free Intraday Trading

Yes, Limited

Free F&O Trading

Yes, Limited

Free Research Reports

Yes

Free Trading calls

Yes

Referral Offers

Upto Rs.500 per Client

Margin Funding / Pledging

Yes

Brokerage Cashback

No

Zero Brokerage for Loss Making Trades

No

Uncovering the mStock offers:

  • mStock, as a discount broker, offers flexible, flat brokerage plans to its clients.
  • You can trade or invest without paying brokerage but for a limited period.
  • mStock doesn’t charge for Delivery Trading.
  • Intraday and F&O trading is also cost-free, but the offer is limited.
  • You can call and trade without paying any fees.
  • Clients need not pay the consideration beforehand to buy or sell financial instruments with Margin Funding / Pledging facility.

mStock SWOT Analysis

If you want to start a demat account with mStock, please check out this amazing SWOT Analysis.

Strength

  • mStock offers zero brokerage plans for a lifetime to its active clients.
  • Clients can subscribe to an Rs. 149 plan to test the broker before paying Rs. 999 as a subscription.
  • The firm offers about 100 indicators with 7 chart types to let traders and investors analyze the market technically.
  • Clients can get a maximum of 80% funding in over 700 stocks at a rate as low as 6.99%.
  • mStock allows its customers to invest or trade from 700+ stocks collection.

Weakness

  • mStock doesn’t enable clients to open a 3-in-1 account.
  • Charges a relatively high AMC of Rs. 999 as a discount broker.
  • The customers experience glitches in the mStock Share Marketing Trading App occasionally.

Opportunities

  • mStock can establish its offline presence.
  • The company can also increase its online trading support by introducing trading terminals and foreign stocks trading, algo trading, or digital gold investment platform.
  • mStock can create new trading or investing opportunities by offering Commodity F&O, Foreign Stocks, Corporate Bonds, or Insurance.

Threat

  • The technologically innovative brokerage houses can beat mStock in this digitally advanced age.
  • Zerodha, Upstox, and 5paisa are some best discount brokers in India, giving tough competition to mStock.

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mStock Review - Products Offered

Equity Delivery

Yes

Equity Intraday

Yes

Equity Option

Yes

Equity Future

Yes

Commodity Option

No

Commodity Future

No

Currency Option

Yes

Currency Future

Yes

Foreign Stocks

No

Mutual Funds

Yes

Banking

No

Insurance

No

Corporate Bonds

No

Govt. Bonds

No

Digital Gold

No

mStock Review - Services Provided

Demat Services

Yes

Trading Services

Yes

Intraday Services

Yes

F&O Services

Yes

IPO Services

Yes

3 in 1 Account

No

Stock Research

Yes

Stock Recommendations

Yes

Trading Institution

No

Share Pledging

Yes

PMS or PCG

No

NRI Services

No

mStock Research & Advisory

Fundamental Reports

No

Research Reports

No

Company Reports

No

Annual Reports

No

IPO Reports

No

Technical Reports

No

Stock Tips

Yes

Daily Top Stock Picks

Yes

Daily Market Review

Yes

Monthly Review

Yes

Weekly Review

Yes

Relationship Manager

No

Robo Advisory

No

The firm provides limited research support to customers with mStock Trading Account.

You can’t have professionally drafted research, company, annual, IPO, and technical reports. But the brokerage house provides:

  • Stock tips, including daily top stock picks, enable its active customers to trade and invest in profitable stocks.
  • You can stay up-to-date about the market conditions with daily, weekly, or monthly market reviews.

mStock Margin or Exposure or Leverage

Equity Delivery

1x

Equity Intraday

Upto 5x (Depends on Stocks)

Equity F&O Carry Forward

1x

Equity F&O Intraday

1.3x

Commodity F&O Carry Forward

1x

Commodity F&O Intraday

1.3x

Currency F&O

1x

Below given is the mStock Margin or Leverage you can retain on different trading and investment options:

  • mStock’s margin or leverage rate for Equity Delivery and Equity F&O Carry Forward can be 1x.
  • Customers can keep at most a 5x margin or leverage for Equity Intraday. The margin rate can vary with stocks.
  • 1.3x is the margin or exposure for Equity and Commodity F&O Intraday.
  • The exposure for Commodity F&0 Carry Forward is 1x.
  • mStock facilitates 1x margin for Currency F&O.

mStock Review - Programs

Sub Broker Program

Yes, Limited

Partner Program

Yes, Limited

Referral Program

Yes

mStock Review & Rating by Finec.in

Overall Rating

7.28 / 10

Customer Support

7.25 / 10

Technology

7.37 / 10

Charges

7.31 / 10

Products & Service

7.24 / 10

Experience

7.22 / 10

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mStock Customer Support

Trading Support

Available, Chargeable

Dedicated Dealer

Available, Chargeable

Call Support

1800-2100-818

Email Support

help@mstock.com

Whatsapp Support

NA

Website Support

Facebook Support

Twitter Support

Telegram Support

NA

Branches / Offices

NA

Even though you can visit the organization’s office or branches for mStock Customer Care, it offers dedicated online customer support.

mStock retains a credible rating of 7.25 for customer support. However, you need to pay to access trading and dedicated dealer support.

The company keeps its lines open 24/7 to resolve customer queries and complaints. You can call at 1800-2100-818 or email at help@mstock.com.

In addition, you can reach out to mStock online at its website, Facebook page, and Twitter profile.

mStock Complaints & Feedback

Total Complaints Lodged

113

Total Complaints Resolved

101

% of Resolved Complaints

89.38%

Non Actionable Complaints

6

% of Non Actionable Complaints

5.31%

mStock Complaints statistics are an effective means to know the brokerage house’s efficiency and popularity.

At this stage, the firm received a total of 113 complaints. And its active resolved complaints percentage is 89.38%, as it fixed 101 complaints.

From 113 total complaints, mStock discovered that 6 were non-actionable. It implies that the firm’s active non-actionable complaints percentage is 5.31%.


mStock Charges

Check out various fees levied by mStock here.

 mStock Account Opening Charges

  • To open a mStock account, you must deposit Rs. 149.
  • The organization asks its active clients to pay Rs. 999 as AMC.

STT & CTT Charges

  • To buy and sell Equity Delivery and sell Commodity Future, you must pay 0.1% STT & CTT charges.
  • For Equity Intraday sell transactions, STT & CTT charges are 0.025%
  • You can sell Equity Option by paying 0.0125% charges and 0.0625% for Equity Future.
  • STT & CTT charges to sell Commodity Options are 0.05%.

Stamp Duty Charges

  • Clients can buy Equity Delivery after paying 0.015% stamp duty charges.
  • Buying transactions for Equity Intraday, Equity Option, and Commodity Option demands 0.003% charges.
  • Stamp duty charges for buying Equity and Commodity in the Future market are 0.002%.

Transaction Charges

NSE and BSE specify the following transaction charges for mStock:

  • You can transact in Equity Delivery and Intraday by depositing 0.00325% charges.
  • To trade in Equity Future, pay 0.0019% charges.
  • 0.05% are the transaction charges for Equity Options.
  • NSE fixes 0.0009% charges for transacting in Currency Future and 0.035% for Currency Option.

Pledge Charges

  • You can request pledge creation and invocation after depositing and must pay Rs. 32 for each request.

mStock Hidden Charges

  • The firm fixed DP charges as Rs. 12 per Scrip on Sell DP.
  • There are no charges for account reactivation requests.

mStock Account Opening Charges

Account Opening Charges

Rs.149

Annual Maintenance Charges (AMC)

Rs.999

mStock STT & CTT Charges

Equity Delivery

0.1% on buy & sell

Equity Intraday

0.025% on sell

Equity Future

0.0125% on sell

Equity Option

0.0625% on sell (on premium)

Commodity Future

0.01% on sell (Non-Agri)

Commodity Option

0.05% on sell

Currency Future

Nil

Currency Option

Nil

mStock Stamp Duty Charges

Equity Delivery

0.015% on buy

Equity Intraday

0.003% on buy

Equity Future

0.002% on buy

Equity Option

0.003% on buy

Commodity Future

0.002% on buy

Commodity Option

0.003% on buy

Currency Future

0.0001% on buy

Currency Option

0.0001% on buy

mStock Transaction Charges

Equity Delivery

0.00325% (NSE) & 0.00375% (BSE)

Equity Intraday

0.00325% (NSE) & 0.00375% (BSE)

Equity Future

0.0019% (NSE & BSE)

Equity Option

0.05% (on premium)

Commodity Future

NA

Commodity Option

NA

Currency Future

0.0009% (NSE)

Currency Option

0.035% (NSE)

mStock Pledge Charges

Pledge Creation Charges

Rs.32 per Request

Pledge Invocation Charges

Rs.32 per Request

Interest on Margin Trading

0.05% per day

mStock Hidden Charges

SEBI Turnover Charges

Rs.10/ Crore (All Segment)

DP Charges

Rs.12 per Scrip on Sell

GST

18% on (Brokerage + SEBI + Transaction charges)

Account Closure Charges

Nil

Reactivation Charges

Nil

Dematerialisation Charges

Rs.150 per Certificate

Call & Trade Charges

Free


mStock Review – Conclusion

With 26 years of rich global lineage, the brokerage house serves over 15 countries and has executed 7 million+ trades.

With an overall credible rating of 7.28, you can trust mStock for safe and secure transactions in the stock market.

So, as per mStock Review, the firm is perfect for experiencing the ‘Zero Brokerage’ revolution.

You need to pay Rs. 999 as a lifetime fee. And you are all set to trade and invest without paying brokerage charges.


FAQs on mStock

Check out various FAQs related to mStock Review.

Is mStock a Safe Broker?

mStock has built a solid trust base among Indian investors, traders, and stock market experts. Moreover, it’s a SEBI-registered discount broker.

So you can trust mStock for safe trading and investing experience.

Is mStock Good for Beginners?

With mStock, you can access the ‘Zero brokerage plan’ and affordable pricing. The organization provides an excellent opportunity for beginners to trade and invest without spending too much on brokerage.

How many active clients does mStock have?

Within just 26 years of establishment, mStock has increased its active client base to 56,000 and counting.

Who is the founder of mStock?

Park Hyeon-Joo, a South Korean billionaire, is the founder of mStock.

Does mStock provide Free Delivery Trading?

Yes! mStock allows its active customers to leverage cost-free Equity Delivery Trading.

What are Intraday Trading Charges in mStock?

To transact in Equity Intraday with mStock, you must deposit Rs. 20 for each trade.

What are mStock F&O Charges?

mStock fixes Rs. 20 per trade for trading or investing in Equity Future and Options.

Does mStock charge for Commodity Trading?

Commodity Trading is not available for people with mStock Demat accounts. So, there are no charges for commodity trading.

Does mStock charge for Currency Trading?

mStock charges Rs. 20 per trade for trading or investing in Currency Future and Options.

Does mStock provide Research?

The firm provides limited research support with no research, company, annual, IPO, or technical reports. But you can access support for daily top stock picks and market reviews.

How to contact mStock Customer Care?

You can call at 1800-2100-818 or email at help@mstock.com. Additionally, you can contact the firm online at its website, Facebook page, and Twitter profile.

How much is AMC in mStock?

mStock asks its active clients to pay Rs. 999 as account maintenance charges (AMC).

What are Account Opening Fees in mStock?

To open a mStock account, traders and investors must deposit Rs. 149.

What are Pledge Creation Charges in mStock?

You can request for pledge creation in mStock after depositing must pay Rs. 32 for each request.

How much are Pledge Invocation Fees in mStock?

Active clients can request pledge invocation after depositing and must pay Rs. 32 for each request.

Does mStock levy any Interest on Margin Trade Funding?

Yes! mStock levies Interest on Margin Trading on traders. You must pay 0.05% per day as interest for margin trading.

What are DP Charges in mStock?

mStock fixes Depository Participant (DP) charges as Rs. 12 for each Scrip on Sell DP.

Does mStock levy any Account Closure Fees?

If you are considering closing an account with mStock, you can do it without paying a single penny.

What are Account Reactivation fees in mStock?

There are no charges for account reactivation requests in mStock.

What are Call & Trade Charges in mStock?

Traders and investors with mStock accounts can leverage call and trade facilities with zero charges.


 

Customer ratings and reviews of mStock

  • Karan says:
    ★★★★★
    ★★★★★

    Worst application worst staff my order is unable to sqare off for more than 30 min Even customer care is cold and said they cant do anything and cut phone on my face if any one want proofs msg me i will show ss and video

  • Invest with Zero Brokerage Now!Open Demat Account