₹5 F&O & Intraday per order		₹0 Delivery & Call & Trade		₹1,299 One-time lifetime zero plan
6.99% MTF interest p.a.		4.6L Active clients (Jun 2025)		4.0/5 CSB Rating

mStock is the discount broking platform launched in April 2022 by Mirae Asset Capital Markets (India) Pvt Ltd — the Indian subsidiary of Mirae Asset, a Korean global investment powerhouse managing over $600 billion in AUM across 15+ international markets. Mirae Asset is one of Asia's largest asset managers, with a well-established presence in Indian mutual funds through Mirae Asset Mutual Fund. The launch of mStock represents Mirae Asset's move into the Indian retail broking space, bringing institutional credibility, financial stability, and long-term commitment that few discount brokers can match.

mStock's pricing is distinctly competitive. Standard brokerage: ₹5/order flat for intraday, F&O, MTF, and currency — 4x cheaper than the ₹20 standard and matching Shoonya for the lowest flat-fee F&O brokerage in India among brokers with significant user bases. Delivery brokerage: ₹0. The unique feature is the Lifetime Zero Operating Charges plan: pay ₹1,299+GST once, and your quarterly AMC (normally ₹219/quarter) is permanently waived. This makes mStock essentially free to operate forever after a one-time ₹1,299 investment. Call & Trade is also ₹0 — a genuinely rare offering in discount broking.

The MTF interest rate is notable: 6.99% p.a. for funding above ₹5 crore, 9.99% for ₹25L–₹5Cr, and 14.99% up to ₹25L — with up to 80% funding on 1,100+ stocks and an unlimited holding period. The 6.99% tier is among the lowest institutional MTF rates available, and even the 14.99% retail tier is competitive versus brokers charging 18–21%.

Brokerage charges

4.6

Institutional backing

4.7

Trading platform

3.6

MTF & margin offering

4.4

Customer support

3.2

App stability

3.3

Value for money

4.5

Overall Rating

4.0

Ratings based on independent testing, verified user reviews, SEBI complaint data, and platform benchmarking. Updated March 2026.

All charges verified from mstock.com/pricing (official pricing page, fetched March 2026) and Chittorgarh.

mStock's ₹0 Call & Trade is one of the most unusual features in discount broking. Shoonya is the only other major broker offering free Call & Trade; most charge ₹20–₹100 per phone order. For investors who occasionally need to place urgent orders by phone during market hours — perhaps during technical issues with the app — this removes what is typically an expensive emergency cost.

mStock's Pay Later (MTF) facility provides up to 80% funding on 1,100+ stocks with an unlimited holding period. The tiered rate structure: 6.99% p.a. for balances above ₹5 crore; 9.99% for ₹25L–₹5Cr; 14.99% for up to ₹25L. The 14.99% retail tier is still cheaper than brokers charging 18–21%. No interest is charged on intraday MTF trades. Interest is charged only on the utilized margin. This MTF structure positions mStock well for investors who use MTF regularly for leveraged delivery positions.

mStock provides three platforms: the mStock App (Android and iOS) with 1-click order placement, voice search, customised price alerts, advanced charting, and real-time data; the mStock Web with advanced tools including TradingView charts (F&O), margin trading, option strategies suite, and Smart Order Form; and a free Trading API for algo traders. GTT orders and basket orders are available on both app and web. MIRA is the AI-powered virtual assistant for onboarding and navigation. App stability has been a reported weakness — freezes and unresponsive behaviour during heavy market sessions.

• You want the lowest F&O brokerage with institutional backing — ₹5/order matching Shoonya, but backed by Mirae Asset's $600B global AUM. This combination is unique in Indian broking.
• You plan to use mStock for 2+ years — pay ₹1,299 once and eliminate all quarterly charges permanently. At ₹876/year standard AMC, the plan pays back in 18 months.
• You use MTF frequently — 6.99%–14.99% p.a. depending on balance, vs 18–21% at most brokers. Unlimited holding period on 1,100+ stocks.
• You occasionally need phone support to place orders — ₹0 Call & Trade removes this emergency cost.

• App reliability is critical to you — multiple users report freezes and bugs. For traders who need a rock-solid platform, Zerodha Kite is the gold standard.
• You are an NRI — not available. Consider Angel One or Shoonya.
• You want ₹0 AMC without any upfront payment — Shoonya, ProStocks, Groww, and Alice Blue offer ₹0 AMC forever without any one-time fee.