m.Stock Review (March 2024)
This is my review of the m.stock.
In this m.Stock review, I’ll cover the following:
- Overview
- Account Opening and Maintenance Charges
- Brokerage Charges
- Trading Platform
- Advantages and Disadvantages
Let’s dive right in.
Summary of m.Stock Review
| M Stock | |
|---|---|
| Type | Discount Broker |
| Year Founded | 2022 |
| Headquarters | Mumbai, India |
| Overall Rating | 3.2 out of 5 |
| Brokerage Charges for Equity Intraday, F&O, Commodity and Currency | Zero brokerage for all Segments |
| Maximum Brokerage per Executable Order | Yes |
| Zero Brokerage on Equity Delivery Trading | Yes |
| Presence in Branches | No branches |
| Mobile Trading App | Available |
| Number of Features | N/A |
| Ranking | 14th |
Overview of m.Stock
If you are looking for a brokerage firm that offers zero brokerage, then m.Stock might be the right choice for you. m.Stock is an online retail stockbroking service offered by Mirae Asset Capital Markets (India). The company is regulated by the Securities and Exchange Board of India (SEBI) and has received its stockbroking license from the regulatory authority.
One of the key features of m.Stock is its zero brokerage plan. This plan allows you to trade in stocks, futures, and options at zero brokerage. You can also Open a demat account with m.Stock, which is required for trading in the Indian stock market.
m.Stock offers a range of trading platforms to its clients, including a mobile trading app and a web-based trading platform. The mobile trading app is available for both Android and iOS devices and allows you to trade on the go. The web-based trading platform is user-friendly and offers a range of features to help you make informed trading decisions.
In addition to its zero brokerage plan, m.Stock also offers a range of other services, including research and analysis tools, market news, and a dedicated customer support team. The company has a strong focus on customer satisfaction and aims to provide a friendly and hassle-free trading experience to its clients.
Overall, if you are looking for a brokerage firm that offers zero brokerage and a range of other services, then m.Stock might be worth considering. With its user-friendly trading platforms and dedicated customer support team, m.Stock can help you make informed trading decisions and achieve your investment goals.
Account Opening Process
Opening an account with m.Stock is a hassle-free process that can be done in a few simple steps. Here’s what you need to know about the account opening process.
Documents Required
To open an account with m.Stock, you will need to provide the following documents:
- PAN Card
- Aadhaar Card
- Bank Account Details
- Mobile Number
Charges
m.Stock offers a zero-brokerage account, which means that you do not have to pay any brokerage fees. However, there is an account opening charge of ₹999. This charge includes the cost of opening a trading and demat account.
Maintenance Fees
m.Stock does not charge any maintenance fees for your trading and demat account. However, there may be other charges that you need to be aware of. Here is a table that shows the account opening and maintenance charges:
| Account Opening Charge | Maintenance Charge |
|---|---|
| ₹999 | No Charges |
To open a Trading and demat account with m.Stock, you need to follow these steps:
- Visit the m.Stock the website and enter your mobile number.
- Enter the OTP that you receive on your mobile number.
- Complete the online KYC procedure by entering your personal details like name, address, PAN card number, Aadhaar card number, and date of birth.
- Upload the required Documents.
- Pay the account opening charge of ₹999.
Once you have completed these steps, your trading and demat account will be opened, and you can start trading on the m.Stock platform.
Overall, opening an account with mStock is a straightforward process that can be completed in a few simple steps. With zero brokerage fees and no maintenance charges, m.Stock offers a cost-effective way to trade in the stock market.
Investment Products
When it comes to investment products, m.Stock has got you covered. Here’s a breakdown of the different types of investments available on the platform:
Equity
m.Stock offers a wide range of equity investments, from blue-chip stocks to emerging market shares. You can invest in both domestic and international equities, giving you access to some of the world’s most dynamic markets.
Mutual Funds
If you’re looking for a more diversified investment, m.Stock also offers a variety of mutual funds. These funds are managed by professional fund managers and invest in a mix of equities, bonds, and other securities. With m.Stock, you can choose from a range of mutual funds that cater to different investment objectives.
Commodities
Commodities are another popular investment option and m.Stock offers a range of commodities to choose from. You can invest in precious metals like gold and silver, as well as agricultural commodities like wheat and corn. Commodities can be a great way to diversify your portfolio and hedge against inflation.
Currencies
Finally, m.Stock also allows you to invest in currencies. This can be a great way to take advantage of fluctuations in exchange rates and diversify your portfolio. With m.Stock, you can invest in a range of currencies, from major currencies like the US dollar and euro to emerging market currencies like the Indian rupee and Brazilian real.
Overall, m.Stock offers a wide range of investment products to choose from. Whether you’re looking to invest in equities, mutual funds, commodities, or currencies, m.Stock has got you covered. With its zero brokerage and no commission model, m.Stock is an attractive option for both seasoned traders and novice investors alike.
Brokerage and Fees
When it comes to investing, one of the most important factors to consider is the Brokerage and fees charged by the broker. In this section, we will take a closer look at the brokerage and fees offered by m.Stock.
Brokerage Charges
m.Stock is known for offering zero brokerage charges for all segments. This means that you can buy and Hold stocks for as long term as you want without paying any brokerage fees. However, for other segments, such as equity intraday, futures, options, and currency, the brokerage charges are as follows:
| Segment | Brokerage |
|---|---|
| Equity Intraday | Free |
| Futures | Free |
| Options | Free |
| Currency | Free |
Transaction Charges
In addition to brokerage charges, m.Stock also charges transaction charges for each trade. These charges are levied by the stock exchanges and are passed on to the customers. The transaction charges for different segments are as follows:
| Segment | Transaction Charges |
|---|---|
| Equity Delivery | NSE: 0.00325% BSE: 0.00375% |
| Equity Intraday | NSE: 0.00325% BSE: 0.00375% |
| Futures | NSE: 0.0019% |
| Options | NSE: 0.050% on premium |
| Currency | 0.0009% |
In conclusion, M.Stock offers zero brokerage is offered for all segments. However, it is essential to consider other factors, such as customer service, trading platforms, and educational resources, before choosing a broker.
Trading Platforms
When it comes to trading platforms, m.Stock offers a range of options to suit different traders’ needs. Whether you prefer to trade on your desktop, mobile, or tablet, m.Stock has got you covered.
Their app is available for both Android and iOS, making it easy to trade on the go. The app is user-friendly and offers a range of features, including 1-click order placement, real-time market updates, and more. You can also use voice search to find stocks quickly and easily.
m.Stock’s technology is top-notch, providing a stable and fast trading experience. Their platform is built on the latest technology, ensuring that you have access to the most up-to-date tools and features.
One of the standout features of mStock’s trading platform is their zero brokerage plan. This means that you can trade intraday and F&O without paying any brokerage fees. This is a great option for traders who want to keep their costs low.
Overall, m.Stock’s trading platforms are user-friendly, feature-rich, and reliable. Whether you’re a beginner or an experienced trader, you’ll find everything you need to trade successfully on their platform.
Trading Options
When it comes to trading options, m.Stock offers a variety of options to choose from. Here are some of the options you can explore:
Intraday
If you’re interested in Intraday trading, m.Stock offers a variety of options to choose from. You can trade in stocks, futures, and options. With intraday trading, you can buy and sell securities within the same trading day, and this can help you take advantage of short-term market movements.
Futures
If you’re interested in futures trading, m.Stock offers a variety of options to choose from. You can trade in commodities, currencies, and indices. Futures contracts are agreements to buy or sell an asset at a predetermined price and date in the future. Futures trading can be a great way to hedge your portfolio against market fluctuations.
Options
If you’re interested in Options trading, m.Stock offers a variety of options to choose from. You can trade in stocks, currencies, and indices. Options contracts are agreements that give the buyer the right, but not the obligation, to buy or sell an asset at a predetermined price and date in the future. Options trading can be a great way to hedge your portfolio against market fluctuations and generate income.
In summary, m.Stock offers a variety of options for trading, including intraday, futures, and options. Each of these options has its own benefits and risks, so it’s important to do your research and choose the option that best suits your investment goals and risk tolerance.
Tools and Analysis
When it comes to trading and investing, having the right tools and analysis at your disposal can make a significant difference. Fortunately, m.Stock provides a range of tools and analysis features to help you make informed decisions.
Charts
One of the most important tools for traders and investors is charts. m.Stock offers a range of charting options, including candlestick charts, line charts, and bar charts. These charts can help you visualize the price movement of a particular stock or asset over time, making it easier to identify trends and patterns.
In addition to basic charting, m.Stock also offers a range of advanced charting features. For example, you can add technical indicators such as moving averages, Bollinger Bands, and MACD to your charts. You can also customize your charts with different time frames, chart types, and colors.
Smart Calculators
m.Stock also provides a range of Smart calculators to help you make informed investment decisions. These calculators can help you determine the potential returns and risks of different investments.
For example, the SIP (Systematic Investment Plan) calculator can help you calculate the potential returns of a mutual fund investment over a period of time. Similarly, the EMI (Equated Monthly Installment) calculator can help you calculate the monthly payments required for a loan.
In addition to these calculators, m.Stock also provides a range of other analysis tools, including stock screeners and portfolio trackers. These tools can help you identify potential investments and track the performance of your portfolio over time.
Overall, m.Stock provides a range of powerful tools and analysis features to help you make informed investment decisions. Whether you’re a seasoned trader or a beginner, these tools can help you stay on top of the market and make the most of your investments.
Customer Service
When it comes to investing, customer service is a crucial aspect. You want to know that you can get help when you need it and that your concerns will be addressed promptly and professionally.
m.Stock offers customer service through multiple channels, including phone, email, and live chat. Their customer service team is available from Monday to Saturday, 9:00 am to 6:00 pm.
Many users have praised m.Stock’s customer service team for being friendly and helpful. They are known to respond quickly to queries and resolve issues promptly.
m.Stock also offers a knowledge base on their website, which contains answers to frequently asked questions. This can be a helpful resource for those who prefer to find answers on their own.
If you’re new to investing, you may appreciate m.Stock’s educational resources. They offer webinars and tutorials on various aspects of investing, which can help you make informed decisions.
Overall, m.Stock’s customer service is well-regarded by many users. They offer multiple channels of support and have a reputation for being friendly and helpful.
Pros and Cons
Advantages
If you are considering m.Stock as your stockbroker, there are several advantages you should keep in mind. Here are some of the benefits of using m.Stock:
- Zero Brokerage: m.Stock offers zero brokerage on all trades, which means you can save a lot of money on commissions and fees.
- Easy to Use: The m.Stock app is user-friendly and easy to navigate, making it an ideal choice for beginners.
- Wide Range of Products: m.Stock offers a wide range of products, including equities, commodities, currencies, futures, and options. This means you can diversify your portfolio and invest in multiple asset classes.
- Research Tools: m.Stock provides access to various research tools and resources that can help you make informed investment decisions. This includes market news, stock recommendations, and analysis.
Disadvantages
While m.Stock has several advantages, but there are also some downsides that you should be aware of before signing up. Here are some of the cons of using m.Stock:
- Limited History: m.Stock is a relatively new player in the stockbroking industry, having launched in April 2022. This means it has a limited track record, and you may not be able to find as much information about the company as you would for more established brokers.
- Limited Customer Service: Some users have reported that m.Stock’s customer service can be slow to respond, which can be frustrating if you need help with an issue.
- Limited Features: While m.Stock’s app is user-friendly. It may not have as many features as some of its competitors. For example, it may not offer advanced trading tools or customizable charts.
- Limited Availability: m.Stock is currently only available to Indian residents, which means it may not be an option if you live outside of India.
Overall, m.Stock has several advantages and disadvantages that you should consider before deciding whether to use it as your stockbroker. While it may not be the best option for everyone, it could be a good choice if you are looking for a user-friendly platform with zero brokerage and a wide range of products.
Conclusion
m.Stock is a reliable stock analysis website that provides comprehensive reviews and analysis to help investors make informed decisions. Whether you’re a seasoned trader or a new investor, m.Stock can help you optimize your investment returns and take your portfolio to the next level.
In this blog post, we provided a detailed review of m.Stock, including its features, benefits, and drawbacks. By understanding the different aspects of m.Stock and its services, investors can make informed decisions and take advantage of the platform’s features to grow their wealth.
Overall, m.Stock is a must-try for anyone who wants to invest in the stock market and needs reliable stock analysis and reviews. With its user-friendly interface and affordable pricing, m.Stock is an excellent choice for both beginners and experienced investors. Sign up for m.Stock today and start investing with confidence!
Frequently Asked Questions
What are the charges for using m.Stock trading platform?
M stock offers a zero brokerage plan, which means that there are no charges for trading stocks, futures, options, or commodities. However, there may be other charges, such as government taxes, stamp duty, transaction charges, and exchange fees, that are applicable as per the regulations.
How can I download the m.Stock app?
You can download the M stock app from the Google Play Store or the Apple App Store. Simply search for “M stock” and click on the download button to start using the app.
Is m.Stock SEBI registered?
Yes, m.Stock is a SEBI registered broker that is authorized to offer trading services in India. M stock follows all the guidelines and regulations set by SEBI to ensure the safety and security of its customers’ investments.
Who is the owner of m.Stock?
m.Stock is owned by a group of experienced professionals who have a strong background in finance and technology. The company is committed to providing a user-friendly trading platform that is accessible to everyone.
What makes m.stock different from Angel Broking?
m.Stock offers a zero brokerage plan, which means that customers can trade without paying any brokerage fees. Additionally, m.stock offers a user-friendly trading platform that is easy to use and navigate. m.stock also provides a wide range of investment options such as stocks, futures, options, and commodities.
Is m.Stock a free trading app?
Yes, m.Stock is a free trading app that allows customers to trade stocks, futures, options, and commodities without paying any brokerage fees. However, there may be other charges, such as government taxes, stamp duty, transaction charges, and exchange fees, that are applicable as per the regulations.
