MStock Review: Brokerage, Features & How to Register?

Well, if you are into trading and investing, then you must have heard about this app charging 0 brokerages for a one-time fee of just 999. Yes, we are talking about MStock. This platform was recently launched and has been making headlines with its amazing deals. The “Zero Brokerage for Life” claim makes it highly competitive in the market and gives it an edge over its competitors. But is this the best platform for you? Are there any hidden charges? Let’s find out with this detailed MStock review.

MStock: Quick Introduction

MStock was launched in 2022 by Mirae Asset. Now, for those who are new, Mirae Asset is a very reputable asset management company. With Mirae Asset backing MStock, it has become a credible platform in the market.

At MStock, you will find a diverse range of investment options, this includes equity, currency, futures, and options. This means that you can easily diversify your portfolio using just one platform. So far, this has been a promising platform but let’s review it using some other major factors.

MStock Brokerage

When it comes to choosing a stock brokerage platform, brokerage charges and fees are the most important factors to take into consideration. Let's see what MStock has to offer:

Type	Charges
Delivery	Rs.0
Intraday	Rs.0
Futures	Rs.0
ETF	Rs.0
Options	Rs.0
Currency	Rs.0
Mutual Fund	Rs.0
IPO	Rs.0
Pay Later (MTF)	Rs.20
DP Charges During Sell	Rs.18
Transactions	Upto Rs.11
Payment Gateway Charges	Rs.0
Call & Trade	Upto 9.99%
MTF Interest Rate	0.033% per day
Pledge Shares Interest Rates	0.033% per day

There is another popular plan which is also known as the zero-brokerage demat account for just Rs.999. With this plan, there is no brokerage fee for all segments including intraday, delivery, IPOs, mutual funds, and more

Apart from this, you also get a lifetime AMC free with interest rates as low as 6.99%. You can visit their pricing page to get more detailed insight into their charges. You can even take advantage of features like portfolio tracking, real-time market updates, customizable watchlists, etc.

Features Of MStock

MStock has several stand-out features, let’s find out what they are:

No Brokerage: Unlike traditional investment platforms, MStock offers trading and investment products with no brokerage. This makes it an attractive and cost-effective option for traders and investors.
Faster transactions: Thousands of orders are processed per second which makes it stable, secure, and a super-fast platform.
Versatile: MStock has a dedicated and user-friendly mobile app so it caters to all beginner and even experienced investors.

Account Opening Process

Let me tell you about their onboarding process with the steps below:

Visit Mstock's official website using your preferred search browser.
On the homepage, you will see the “Open Free Demat & Trading Account Now” option. You will need to fill in your contact number in the text box below this to get started.
You will be prompted to fill in your personal details such as your name, address, contact details, email ID, and PAN number.
As you submit those details, now you need to provide your bank details and income information.
Scan all the required documents such as PAN card, Aadhaar card, address proof, and passport-size photo, and upload them. Make sure to follow all the size and format instructions.
Complete the IPV process by following the instructions on the screen and submit your e-signature. There is also an additional Aadhaar-based KYC for security.
Now, wait for a few hours and if everything is in order, your MStock application will get approved and you will soon get your demat account details.
Just log into your account by using the credentials provided by MStock.

Pros and Cons of MStock

Now, have a look at the pros and cons of this platform as this MStock review is incomplete without it. This data is derived from the actual reviews of the customers for more accuracy:

Pros	The best advantage of using MStock is zero brokerage which means that you can trade as much as you can. MStock platform is pretty user-friendly for both beginners and pro investors. You can log in on both the website and app simultaneously. There are no Annual maintenance charges. No commission is charged on mutual funds and there is a free call and trade feature as well.
Cons	Customers have reported that the app gets glitchy very often. Customer service is decent at best. Not so good and not so bad, there is always room for improvement. In case you choose not to go for the zero brokerage plan of Rs.999, then a standard AMC of Rs.120 is charged every quarter.

Wrapping Up

This was our take on the MStock review. The choice to use this platform ultimately depends on you and your financial goals. MStock can be a reliable and cost-effective alternative for you.

Talking about the app glitches and decent customer service, the app has been improving steadily. So, do your research and evaluate your needs to make an informed decision that will align with your long-term goals.

About the Author

Khushi Singla

As a writer, my task is not only writing but making tough topics easy to understand. I have the ability to connect with the readers and deliver them the best piece of writing.

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