M Stock

M Stock, is a discount broker in India house that is governed by the South Korean financial giant Mirae Asset. The broker has been making the rounds over the last few months for its attractive prices and other investment features. 

With 9756 active clients within less than 6 months of stepping into the Indian stock market, it is apparent that the stockbroker has fetched some clients already for different reasons. Although the financial firm has stepped into the stock market industry just recently and is taking baby steps, it has already become a giant in mutual fund services. It manages over 100 AUMs and has 35 million customers investing in mutual funds in India as of now. 

Not only does it have great and affordable pricing but it offers trading and investing facilities across multiple segments through its own trading platforms. 

Apart from these, M Stock also offers a margin trading facility at a very inexpensive interest rate making trading by availing margins far more affordable for the traders. 

What is this interest rate for margin trading? What are its brokerage and other charges? How good or bad are its trading platforms? In this article, we will do a detailed analysis of M Stock giving you all the information you need so that you could make up your mind about the stockbroker. 

M Stock Review

With an experience of more than 25 years in financial management services and branches all over the world including Brazil, the USA, Indonesia, China, and now India too, M Stock has built a solid trust base among finance and stock market enthusiasts. 

Its expansion across the world only represents its growth over the years and its growth potential in the upcoming years. But what makes M Stock popular and trustworthy? Let’s look at some of the factors in detail. 

When you review a stockbroker, the first thing you see is its client base and the number of complaints it receives to check its efficiency and popularity. 

At this stage, M Stock has an active complaint percentage of 0.04% on the NSE. If we go by the numbers, it has received only 4 complaints from its active client base of 9756 people and 3 of those 4 complaints have been resolved which shows the broker hasn’t received too many complaints and when it does, it takes the issues seriously which builds the trust among people. 

 

The next important factors that are taken into the consideration are the trading/investment segments as well as the products that are offered by the stockbroker. Having been registered with BSE, NSE, and MCX, M Stock offers to trade and investing under the Equity and Currency segments. 

Other than these, one can also invest in different IPOs using M Stock as a platform. 

The full range of products and investment/trade segments offered by this South Korea-based stockbroker are 

• Equity
• Currency
• Futures & Options
• IPOs
• ETFs
• Margin Trading Facility 

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M Stock Demat Account

Now to avail these services, of course, you need an M Stock Demat account. The account opening process is rather quick and easy. 

It just takes 5 minutes and all you have to do is follow a few steps including the payment of charges and then verification of your personal information.

Therefore, before we go any further, it is important for you to know what M Stock Demat Account Charges you would be paying while opening the account. 

M Stock Demat Account Opening

Now that we know what charges you’d have to pay in order to open a demat account with M Stock, let’s move on to understand the remaining process of opening an account with M Stock. M Stock demat account opening is completed in 4 simple steps. 

• Verification of mobile number through OTP.
• Verify PAN number, Date of Birth, Address and identity of the client through different and appropriate documents.
• Payment of demat account opening charge (mentioned above) where the person has to select a plan and pay accordingly.
• Adding and linking a bank account.

On verifying the above details you can sign in the mStock app and begin your trading or investment journey right away.

Now to activate the account, one needs to submit or upload a few documents required for the demat account.

Here is the list of documents required for the M Stock demat account opening. 

 

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M Stock Charges

Now that we know how to open an M Stock demat account, we will move on to our next segment where we will discuss how to trade or invest with M Stock because that’s the whole purpose of opening an account, right? 

And trading, as well as the charges, go hand in hand which is why we will start with M Stock charges before we move on to review the M Stock trading platforms. 

These are the following M Stock charges. 

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

While we have already discussed the account opening charge, let’s take a look at the M Stock AMC and other mentioned charges. 

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M Stock Demat Account Charges

mStock comes up with two plans where you have to pay two different charges to get different kinds of facilities. 

Under the first plan, you pay ₹999 at the time of account opening and you enjoy unlimited trade across segments without having to pay any brokerage for life. 

Under the second plan, you pay ₹149 at the time of account opening and you enjoy unlimited brokerage free trades under Delivery trading and IPO investments.

 

M Stock Brokerage Charges

As mentioned above, M Stock has come up with two plans. Under the zero brokerage for life plan, a trader doesn’t have to pay any brokerage at all if they are trading with M Stock. However, the trader needs to pay one-time subscription charges equal to ₹999 to activate this plan. 

Under the other plan with the subscription fees of ₹149, the brokerage for delivery trading is absolutely free but a trader still has to pay ₹20 per executed order as the brokerage for other trading segments. 

 

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M Stock DP Charges

The DP Charges in mStock are levied on one scrip on a daily basis on the sell side. So irrespective of the number of shares an M Stock client sells, they’d be paying ₹ 12+ GST as DP charges if the shares of one company are sold in one day. 

For example, if you sell 25 shares of XYZ on August 17, you will have to pay ₹ 12+GST as the DP charges. If you sell one share of the same company, you’d still be paying the same DP charge. 

The M Stock DP Charges are quite nominal and moderate compared to the normal standards. 

 

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M Stock App 

The mStock app can be downloaded either from the Google Play Store or the App store depending on your device. So far, more than 50 thousand people have downloaded it from the play store and the app has got a really credible rating of 4.5 stars. 

 

Apart from an easy-to-understand and use interface, mStock also offers:

• Up to 7 watchlists to track and monitor a maximum of 50 stocks in each of the watchlists. A trader can segregate the stocks into 7 categories based on different parameters and keep a close look at all of them. 
• Easy to track your P&L at any given point of time through your portfolio section.
• With 7 different types of charts and close to 100 indicators, technical analysis is as much fun and simple as it gets.
• Pre-designed index baskets feature, which gives a beginner trader the option to place multiple orders in one click. 
• Easy to track your orders and positions through the respective tabs.
• Simple funds transfer through the UPI and Net Banking. 
• Appropriate market data for both fundamental and technical analysis, suiting both the investors and traders. 
• With Limit Order, Market Order, SL-M Order, SL- Limit order, and After Market Order, the traders get a variety of orders to execute. 
• Option to invest in IPO. 

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M Stock Login

You can log in to the M Stock app using either your mobile number or the client code and password that you receive while opening an M Stock account. 

If you log in using your mobile number, you will have to enter the OTP that you will receive on your phone. Next, you will be required to enter your Date of Birth as well. 

To make sure, your log-in is authenticated, the app also asks you for a 4-digit pin. You can set up a 4-digit pin when you use the M Stock app for the first time. You can also use a face ID to authenticate your login. 

Now that we know how to log in using the M Stock app, we will take a look at what the app has to offer to its users. 

With a clean and simple user interface, M Stock tries to ensure that trading becomes as easier as possible for its clients. 

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M Stock Margin Trading

Margin trading in M Stock is a facility under which the traders get certain leverage of up to 80% by the stockbroker at an interest as low as 7.99%. 

This facility is available for more than 700+ stocks and the holding period is kept unlimited compared to 365 days, which is offered by lots of brokers. 

 

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M Stock Refer and Earn 

mStock also gives its clients an opportunity to make passive income. An existing M Stock client can refer the stockbroker to their friends, family members, or anyone they know and in return, they get a cashback of ₹333 (with a maximum limit of ₹ 15,000 per month) into their M Stock accounts which can be withdrawn at any given point. 

However, the stockbroker doesn’t only reward the referrer but also the referee with a cashback of ₹149 which is deducted from the account opening fee of ₹999.

It must be noted that for M Stock refer and earn to work, an account must be opened with the ₹999 plan using either the referral link shared by the referrer or the account opening link sent by M Stock to the referee after their details are manifested by their friend to the stockbroker. 

 

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M Stock Customer Care

Customer support is of course one of the most essential parameters to evaluate a stockbroker because no matter what, a customer or customers are bound to face some issues at some point in using the services of the broker and how efficiently the broker deals with these issues showcases how much the clients are valued. 

And how exactly does M Stock aim to solve the problems faced by its clients?

With M Stock, there is a toll-free number as well as an Email where people can raise their queries and get much-needed help. The live chat facility isn’t available yet. 

The mStock customer care number is 1800 2100 818, which is a toll-free number. You can simply call them and ask for help. 

After calling the number, you get three options to choose from and your call gets connected to a representative accordingly in very little to moderate time depending on the availability. 

Other than a number, M Stock also offers customer support through email. You can write your issue and mail it to help@mstock.com and they claim to get back to you as soon as possible. 

 

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M Stock Advantages

After carefully and thoroughly analyzing the broker services, we now move on to our two most important conclusions which are the advantages and disadvantages of using this stockbroker and its trading app. Starting with the advantages first:

• One of the cheapest discount brokers in India with two very affordable pricing plans
• No brokerage for life
• Free demat account with no AMC charges
• A plan of ₹ 149 which allows you to test the stockbroker at a low price before subscribing to the ₹ 999 plan
• Attractive cashback with its refer and earn demat account scheme 
• Offers a wide range of investment products
• Easy onboarding process
• The simple IPO application process
• An app with a simple and smooth user interface, suitable for both seasoned traders and also a beginner 
• Reliable market data and financial ratios for fundamental analysis and around 100 indicators with 7 different chart types for technical analysis, suiting both an investor and a trader
• Simple fund transfer methods
• Accessible customer support

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M Stock Disadvantages

Well, where there are advantages, there must be some disadvantages as well. We now move forward to some of the M Stock disadvantages. 

• As a discount broker, it has no offline presence 
• No option to trade or invest in agricultural commodities yet
• A moderately heavy AMC of ₹120 per quarter as a discount broker
• The broker is still relatively new in the market and therefore, it is constantly in an upgrade phase, causing some glitches in its app occasionally. 

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Conclusion

It has been just around 4 months since Mirae Asset launched its investment portal named M Stock and in this short period only, the stockbroker has become a very familiar or popular name among investors, traders, and stock market enthusiasts. 

Although, since it’s new, lots of people still doubt its credibility asking whether M Stock is good or if it is safe. For this, it is good to check the products & services of the broker from time to time 

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