MStock Review: Is It the Best Zero Brokerage Trading Platform?
The Indian brokerage industry has changed rapidly over the last few years, but few platforms have created as much buzz as MStock, the discount broking arm of Mirae Asset. With its promise of zero brokerage for life, competitive margin products, and a trusted global brand behind it, MStock has quickly become a preferred choice for new and active traders alike.
This review breaks down features, charges, pros, cons, and overall performance so you can decide whether MStock is the right platform for your trading and investing needs.
What Is MStock?
MStock is an online stock trading platform launched by the South Korean financial giant Mirae Asset. The platform aims to make equity investing more accessible, affordable, and transparent through a lifetime zero-brokerage model. Since its launch, MStock has attracted both beginners and high-volume traders thanks to a combination of low fees, fast onboarding, and powerful trading tools.
Key Features of MStock
1. Zero Brokerage for Life
MStock’s most attractive feature is its ₹999 one-time fee option, which gives users lifetime zero brokerage on equity delivery, intraday, and futures trades.
No recurring AMC, no hidden charges—this creates massive savings for frequent traders.
2. Fast Account Opening
The onboarding process is 100% digital, with instant KYC verification, Aadhaar-based sign-up, and same-day account activation.
3. Margin Trading Facility (MTF)
MStock offers one of the most aggressive Mirae Asset-backed MTF products, allowing investors to buy stocks with up to 80% funding at competitive interest rates.
Many long-term investors use MTF to accumulate quality stocks with less upfront capital.
4. Advanced Trading Platform
MStock comes with:
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A clean, fast, and mobile-friendly interface
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Real-time charts and indicators
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Quick order execution
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Custom watchlists
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Heatmaps and analytics
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Web and app versions
Traders will appreciate the charting tools, while beginners will find the UI easy to navigate.
5. Multiple Investment Options
The platform supports:
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Stocks
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ETFs
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IPO applications
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Mutual funds
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Derivatives
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MTF
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Currency
This provides a complete ecosystem for average investors and professionals.
Charges & Pricing Structure
1. Account Opening Charges
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Free account opening (usually during offers)
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Option to pay ₹999 for lifetime zero brokerage
2. Brokerage Without Zero Plan
If you choose the pay-as-you-go model:
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Equity Delivery: ₹0
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Intraday & F&O: ₹20 per order
3. Other Charges
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Exchange & regulatory charges as per norms
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No annual maintenance charges (AMC)
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MTF interest is competitive but varies based on market conditions
Pros of Using MStock
✔ Zero Brokerage for High-Frequency Traders
Active traders can save thousands per month, making MStock extremely cost-efficient.
✔ Backed by a Global Financial Institution
Mirae Asset’s reputation builds trust, stability, and long-term reliability.
✔ User-Friendly Platform
Ideal for beginners, with a simple interface and smooth trading experience.
✔ Strong Margin Facilities
MTF and intraday leverage options are among the most attractive in the industry.
✔ Dedicated Support System
Email, chat, and phone support ensure issues are resolved quickly.
Cons of Using MStock
✘ Additional Cost for Zero Brokerage Plan
You must pay ₹999 upfront to enjoy the lifetime benefit.
✘ Limited Advanced Features Compared to Some Competitors
Professional traders may find fewer charting customizations than in tools like TradingView or Fyers.
✘ Newer Platform
Although backed by Mirae Asset, MStock is relatively new compared to Zerodha or Upstox.
Who Should Use MStock?
MStock is ideal for:
✔ High-volume intraday traders
Who want to reduce brokerage costs dramatically.
✔ Beginners
Looking for a simple, low-cost platform to start investing.
✔ Long-term investors
Using MTF to accumulate high-quality stocks.
✔ Cost-conscious users
Who want maximum savings without compromising reliability.
Is MStock Safe and Reliable?
Yes. MStock is regulated by SEBI, and client accounts follow standard security protocols. Being backed by Mirae Asset, one of the world’s most trusted financial institutions, adds significant credibility. Funds and securities are stored safely with no unusual risks.
Should You Use MStock?
If you want a low-cost, beginner-friendly, and globally-backed trading platform, MStock is an excellent choice. The ₹999 lifetime zero-brokerage offer is unmatched in India and makes it especially attractive for frequent traders who want to save on brokerage without sacrificing quality.
MStock may not be the most feature-rich platform, but for pricing, simplicity, and brand trust, it stands out as one of the best discount brokers in India.
