M. Stock review

Sir, can you please advise whether m.stock provide collateral margin by pledging Mutual Fund/ETF?
I could not find this information on their website.

Regards.

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They yet to launch Mutual Fund feature. The services are not up to the mark.
The service is down for whole day today.
I am scared of open positions who is having on their platform.
Better to avoid MStock.

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I feel… after zerodha and groww, dhan is the best.
M.stock is not good

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Except trade execution rest is not good, today their web trading platform is down form morning , many hours now!!

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Down today from 9:30 AM , can not login from Web or App. still down after 4 hours . unable to view or close any order or position.
Hi , We are currently facing a technical issue on m.Stock mobile app and website. Please be rest assured, our team is working towards resolving it ASAP. We will update you once the same is fixed. Thank you for your co-operation. Team Mirae Asset

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I think they launched Mutual funds but still not providing collateral margin yet

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I am using mStock for 5 months now. Here are few pros and cons:
Pro:

  1. Zero Brokerage. I use it only for Option trading including expiry day trading. Where I pay 1000 to 2000 in Zerodha, I pay less than 200 with mStock.

Cons:

  1. Interface not great but manageable
  2. No pledging of Stocks yet. (they say coming soon)
  3. When you square off a trade it takes some time (few minutes) to get the margin back.
  4. Interface freezes for few seconds once a while.
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Being a Mstock user. The following are the actual deal-breakers what prospective users need to be aware of.

  1. They don’t offer direct bank account-to-trading account fund transfers using NEFT and IMPS. You can only transfer funds through a third-party payment gateway or UPI. The use of third-party intermediaries in large-scale money transactions compromises security, privacy and has a chance of your money getting lost somewhere.

  2. If they notice that your trading account balance is zero even after you have paid their full fees for using their no AMC and no brokerage, they slyly deduct operating expenses from your account and let the ledger go into the negative. Once your ledger reach a negative balance, they begin to charge daily penalties. So keep an eye on your ledger to avoid surprises.

My trust in this new broker is gone.

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I heard they dont have E-Dis, you cant do cdsl offline transfer from online web portal.
You need to request physical delivery slip and send(added cost) it to their Mumbai HO everytime.

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So when you use - third party you must pay some fees …how much is that?

Depends on your bank. Right now UPI transaction is free with some banks.

mStcok is not really a brokerage free or AMC free , they are charging “operating charges” in the name of covering certain new regulatory costs, mstock is not good for traders , its okay for so called investors, Even after 1 year mstock trading platform is not stable & they are desperate & struggling for survival :face_with_hand_over_mouth:

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Can someone else provide their review M Stock after using it? I am looking for an alternative to my current broker.

@scpulse @sanjayn

Is there forum/community of blinkx/mstock/finvasia similar to zerodha/dhan

In my experience, Blinkx/JM Financial offers fantastic customer service. They provide free account opening and helpful support whenever you need it. Their brokerage-free trades and profitable research have greatly benefited my investments. Overall, I highly recommend Blinkx/JM Financial for their quality service and support.

Additionally, their “Refer and Earn” program demonstrates care for both new and existing clients. This seems like they’re more focused on getting new customers rather than making sure the existing ones are happy with what they’re getting.

Was thinking of opening but the joining fees disinterested me.

But I don’t like how they keep calling every week to ask me to open account.