A Complete Guide on mStock

m.Stock is an online brokerage and Demat platform launched by Mirae Asset, a prominent global financial services firm. It offers zero brokerage trading across multiple segments—equity, intraday, F&O, currency, commodities, mutual funds, and IPOs — depending on the plan you choose.

The platform includes:

• Web-based trading interface

• Mobile app (Android & iOS)

• Advanced features like voice assistant (MIRA), order types, charts, mutual fund investments, and more.

Account Opening & Onboarding

How to Open an Account

1. Visit the website and click “Open Demat Account.”

2. Provide and verify mobile number and email; enter PAN, date of birth, and link bank account.

3. Select your plan (e.g., zero brokerage, free AMC), and complete payment.

4. Upload a selfie and signature, and complete KYC via DigiLocker or manual IP verification.

5. E-sign and finish Aadhaar/NSDL verification.

6. The account is typically ready within 24–48 hours.

3. Plans, Fees & Charges

Brokerage Plans

• Zero brokerage for life (one-time fee ~₹999) — covers delivery, intraday, F&O, currency, commodities, mutual funds, IPOs.

• Free delivery plan with ₹20 brokerage on intraday, F&O, etc.

AMC (Annual Maintenance Charge) Options

• Regular quarterly AMC ~₹480 + GST for both trading and Demat accounts (₹960/year plus GST).

• One-time ₹999 plan offering lifetime free AMC.

Other Fees

• Transaction charges, stamp duty, STT, SEBI turnover fees, GST (typically 18%) apply on trades.

• DP (Depository Participant) charges: ₹12–18 per ISIN per transaction (depends on plan), plus pledge charges ₹25–32 per PSN per day.

• Transfer-out charges: ₹20 or 0.5% (whichever lower).

Margin Trading / Leverage (MTF)

• Interest rates: 6.99%–9.49% per annum.

• Offer up to 80% funding on 700+ stocks.

• Leverage range: Delivery up to 1×, intraday up to 5× (stock-dependent), F&O intraday ~1.3×, carry-forward F&O 1×.

4. Key Features & Platform Capabilities

Trading Interface & Tools

• Web platform: real-time data, charts with technical indicators, intuitive design.

• Mobile app features: advanced charts, GTT, basket and cover orders, option chain, AMO, voice assistant (MIRA), pre-designed index baskets, watchlists, alerts, and voice search.

Portfolio Tools & Analytics

• Dashboard with P&L, tax P&L, MTF ledger, trade history, and contract notes.

• Wealth management: integrated across stocks, mutual funds, IPOs, futures, currencies.

Mutual Fund & IPO Access

• Commission-free direct mutual funds; SIP and lump sums supported.

• IPO application feature with real-time tracking & quick two-click process.

Additional Perks

• Voice Assistant (MIRA) for navigation and voice commands.

• One-click order placement, pre-filled forms, cover orders, stop-loss, pivot levels, and fundamental data on charts.

• Pre-designed index baskets for instant diversified investing.

• Refer-and-earn program: ₹555 per referral.

5. Pros & Cons

Strengths

• Cost-effective: Zero brokerage and AMC via a one-time fee make it attractive for cost-conscious investors.

• Low-margin rates and high leverage: MTF rates among the lowest in the industry.

• Rich functionality & tools: Features include advanced charts, orders, voice assistants, dashboards, mutual funds, IPOs, etc.

• Effortless onboarding: Paperless, fast, intuitive KYC and account opening flow.

• Sponsored by Mirae Asset: A global brand with reputation and experience.

• Positive reviews: Users and reviewers cite ease of use and value. For instance, one reviewer said “User-Friendly Interface with Low Brokerage Charges”.

Weaknesses & Risks

• Platform stability issues: Multiple users report glitches, outages, delayed data, difficulties in square-offs, and freezing UI.

• Customer support complaints: Reports of slow or no support, dropped calls, unresolved issues.

• Margin/basket order issues: Miscalculated margins; hedging in baskets not taken into account properly.

• Hidden or variable charges: DP charges, RMS, pledge charges, transfer-out fees, etc.

7. Who Should Consider m.Stock?

Ideal For:

• Long-term investors looking for zero brokerage and AMC savings.

• Traders seeking low-rate margin funding.

• Tech-savvy users interested in advanced charting, order types, mutual funds, IPOs in one app.

Caution For:

• High-frequency or intraday traders requiring rock-solid platform stability and fast customer support.

• Users relying on basket strategies or complex margin hedging.

• Investors or traders who may require advanced research/advisory support.

Conclusion

m.Stock offers a compelling value proposition—zero brokerage, competitive margin rates, and a feature-rich platform backed by a global financial brand. It shines for cost-conscious investors aiming for long-term holdings or occasional trading across segments.

That said, several users report platform instability during high volatility and customer support issues, which could be painful in critical scenarios. Potential users need to weigh the cost benefits against the operational risks.

Key Takeaways:

Consideration	Verdict
Zero brokerage + AMC	Excellent as long as you opt for the one-time fee plan
Platform tools	Rich and multi-functional, including voice assistant & charts
Stability & support	Significant user concerns—test thoroughly first
Margin trading	Cost-effective, but double-check margin rules, especially for complex orders

If you're thinking of giving mStock a try, consider starting with small trades first to assess reliability before going full-scale. Want help comparing it with other brokers like Zerodha, Upstox, or Angel One? I’d be glad to assist!