Mastertrust Capital can be considered one of the leading stock trading companies in western India. Now, before diving deep in the full review of the company, let us take a look at its highlights of the company.
Mastertrust Capital is a full-service stockbroking company that is mainly famous for its low Brokerage fees. For Intraday Brokerage, they charge as low as Rs 20 per executed order, and for Delivery Brokerage, they charge just Free.
Moving on; they charge ₹300 per annum for the AMC of the Demat accounts, and the minimum margin money is 75% Margin, which is considerably lower than other stockbroking companies.
| Mastertrust Highlights | |
| Broker Type | Full Service Broker |
| Demat Account AMC | Rs.300 per Annum |
| Margin Required | 75% Margin |
| Intraday Brokerage | Rs 20 per executed order |
| Delivery Brokerage | Free |
| Exposure | Upto 5x |
What do you know about Mastertrust?
As discussed in the highlights section, Mastertrust Capital is a full-service stockbroking company, which is located in the financial capital city, Mumbai. The dynamic duo Mr. Harjeet Singh and Mr. R. K. Singhania founded the company in the year 1994.
Since then, the company has spearheaded the stock market, and now they are one the best in the business. Meanwhile, Mastertrust Capital is a private limited company to date, and most probably won’t make their shares public.
They offer numerous products and services along with lucrative offers. Now, they also have some flaws that we will discuss as well. So, in this article, we will establish a complete company review and conclude how efficient they are right now.
| About Mastertrust | |
| Know few details about Mastertrust | |
| Which type of Company is it? – Public / Private | Private |
| Which type of Broker is it? – Full Service / Discount | Full Service Broker |
| Where is the registered office of Company Located? | Mumbai, Maharashtra |
| Who is the Founder of this Company? | Harjeet Singh Arora & R.K.Singhania |
| When did the company started? | 1994 |
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What are the various Demat Account Opening Charges levied by Mastertrust?
You may be a little disappointed to know that Mastertrust Capital’s account opening fee is NIL and it also has an AMC fee, which is ₹300 per annum. The Depository participants who are involved are both CDSL as well as NSDL.
One good thing is they don’t charge an additional fee for the Trading accounts. The AMC is also free of cost. The minimum margin of money to begin trading with Mastertrust Capital is 75% Margin. You can argue that this fee is unnecessary.
Unfortunately, most companies nowadays charge this amount to initiate trading. Meanwhile, dematerialization is accessible.
| Mastertrust Demat Account Opening Fees | |
| Check out the various fees charged for Opening a Demat Account with Mastertrust | |
| Which is the Depository Participant involved? | CDSL & NSDL |
| What are the Demat account opening charges? | NIL |
| How much is the Demat AMC? | Rs.300 per Annum |
| What is the Trading AMC? | NIL |
| What is the initial Margin amount required? | 75% Margin |
| Is dematerialization available? | Yes |
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Does Mastertrust provide any Offers to their Clients?
Let us discuss the Mastertrust Capital offers. We should start with the Demat account. Now, we have already mentioned before that they charge ₹555 to open the account and also charge ₹300 per annum for its AMC.
However, if you compare that with their Trading account, it is free to open and the AMC will not cost you anything either. One of the essential offers they provide is a discount on Brokerage fees.
Of course, there are a lot of ifs and buts here, but overall getting any discount is excellent. There are some significant offers that are missing from their vault; such as Happy Trading Hours, 1-month Brokerage free trading, and Zero Brokerage on unsuccessful trades.
Having said so, some of the compelling offers that they do provide are Flexible Brokerage plans, occasional Holiday offers, and a satisfactory Referral program.
| Mastertrust Offers | |
| Here are the various offers provided by Mastertrust | |
| Does the broker provide a Free Demat A/C offer? | No |
| Does the broker provide Free Trading A/C offer? | Yes |
| Is this broker offers a Discount on Brokerage? | Yes |
| Does the broker offer Happy hour trading to their clients? | No |
| Is the broking house provides a flexible brokerage plan? | Yes |
| Does the broker offer 1 month of Free brokerage? | No |
| Are the Holiday offers provided by the broker? | Yes |
| Are there any referral offers shared by the broker? | Yes |
| Zero Brokerage for Loss-Making Trades | No |
What are the Brokerage Charges levied by Mastertrust on various Segments?
One of the most compelling reasons for you to be associated with Mastertrust Capital is their fees structure. The Mastertrust Capital Brokerage charges discussion can be started with Equity Delivery fees, which are Free.
The cost is, without a doubt, one of the most reasonable in the stock market. The next in line is also considered one of the cheapest – Equity Intraday, where they charge Rs 20 per executed order. Interestingly, they charge a similar ratio for Commodity Trading, Equity Futures, and Currency Futures, which is Rs 20 per executed order.
The reasonable fee structure continues with Equity Options, where they charge just ₹20 per lot, and for Currency Options, they charge only ₹20 per lot. The Minimum Brokerage requires to initiate trading is ₹20 per executed order.
Again, a quick recap of the Demat accounts, where they charge ₹300 per annum for the AMC, however, for the Trading accounts, it is free of cost. The minimum margin money is 75% Margin, something we have discussed earlier too.
| Mastertrust Brokerage Charges | |
| Here you will find details of brokerage levied by Mastertrust on all segments | |
| What are the Equity Delivery Charges? | Free |
| What are the Equity Intraday Charges? | Rs 20 per executed order |
| How much brokerage charged for Commodity Trading? | Rs 20 per executed order |
| What is the brokerage on Equity Futures? | Rs 20 per executed order |
| How much brokerage charged for Equity Options? | Rs 20 per executed order |
| What is the brokerage on Currency Futures? | Rs 20 per executed order |
| What is the brokerage on Currency Options? | Rs 20 per executed order |
| How much is the Minimum Brokerage required? | Rs.20 per executed order |
| What is the Demat AMC? | Rs.300 per Annum |
| How much is the Trading AMC? | NIL |
| What is the Minimum Margin Required? | 75% Margin |
Does Mastertrust levy any other charges apart from Brokerage?
Now, before the usual Brokerage fees, you must pay some additional fees as well. So, the Mastertrust Capital charges that they levy additionally start with the Transaction fee, which is 0.00225%.
The next in line is the SST fee, which is 0.0126%. It was quickly followed by the SEBI Turnover fees, which is 0.00005%. One of the things that you should know is that all these charges that we mentioned right now will be calculated on the Total Turnover amount.
There are two additional costs that you need to pay, which go to the Government – Stamp Duty and GST. Now, in the case of Stamp Duty, the fee varies from one state to another, so it is hard to pinpoint the exact fee.
In the case of GST, it will be 18%, which will be calculated on the total value of the Brokerage fee and the Transaction fee. While Mastertrust Capital charges all these additional fees, you don’t need to worry about your profit margin. These fees are very nominal and will not cause a great deal of reduction in the profit margin.
| Mastertrust Charges | |
| Get deep understanding of all other charges levied by Mastertrust | |
| How much are the Transaction Charges levied? | 0.00225% of Total Turnover |
| What are the STT charges? | Equity Delivery: 0.1% on both Buy and Sell Equity Intraday: 0.025% on the Sell Side *Equity Futures: 0.01% on Sell Side Equity Options: 0.05% on Sell Side(on Premium) Commodity Futures: 0.01% on the sell side (Non-Agri) Commodity Options: 0.05% on sell-side Currency F&O: No STT On Exercise transaction: 0.125% Right to entitlement: 0.05% on sell-side |
| What are the SEBI Turnover charges? | 0.00005% (Rs.5/Crore) |
| How much is the Stamp Duty levied? | (On buy side only) Delivery: 0.015%, Intraday: 0.002%, Equity Futures: 0.002%, Equity Options: 0.002%, and Currency F&O: 0.0001%.Commodity Futures: 0.002%, Commodity Options: 0.002% (MCX) |
| How are the GST charged? | 18% on (Brokerage + Transaction Charge + SEBI Fee) |
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What is the Limit or Exposure offered by Mastertrust?
The Mastertrust Capital Exposure is typically average if we want to address that in one word. None of the Trading Exposure or Leverage ratio is something extravagant, and some of them are really below average.
Let us start with Equity Delivery, which is just up to 1x. Even though they offer up to 5x Trading Exposure, for some of the services, it is considerably low. For instance, they offer just 1x Trading Exposure for Commodity Trading, and up to 1x a piece for Currency Futures and Currency Options.
These Exposure or Leverage ratios are not acceptable, especially when there are companies that offer up to 1x Trading Exposures quite frequently. Meanwhile, the Mastertrust Capital Margin for Equity Futures is up to 1x, while for Equity Options, they offer a respectable up to 1x Trading Exposure.
| Mastertrust Exposure or Leverage | |
| Here you will find the exposure or limit provided by Mastertrust | |
| How much is the limit on Equity Delivery? | 1x |
| What is the limit on Equity Intraday? | Upto 5x |
| How much is the limit on Equity Futures? | 1x |
| What is the limit on Equity Options? | 1x |
| What is the exposure on Currency Futures? | 1x |
| How much is the leverage on Currency Options? | 1x |
| What is the limit on Commodity Trading? | 1x |
How to open Mastertrust Capital Demat & Trading Account?
For those who don’t know, to perform stock trading, you must own three different accounts. Those will be a Trading account, a Demat account, and a Savings account. As you have to take care of the Savings account, we will not discuss that here. Instead, we will discuss how to create a Demat and a Trading account.
- To open a Mastertrust Capital Demat account, you need to go to click on the “Open Demat Account” button below.
- Over there, you will get a pop-up form.
- Just a simple online form that you need to fill up using the correct information.
- After that, you will get a call from one of their representatives. You will have to tell them that along with the Demat account, you will also like to open a Mastertrust Capital Trading account.
- They will oblige your request and will ask you to process ₹555 for the Demat account, while the Trading account is free to create.
- They will also ask for the KYC documents that you need to submit correctly.
- After they verify your identity and confirm your payment, they will provide you the login credentials to your Demat and Trading accounts respectively.
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What are the various Trading Platforms provided by Mastertrust?
What Mastertrust Capital is offering are three distinct Trading platforms that we will elaborate on thoroughly here:
Mastertrust Capital Trading Terminal
Primarily this Trading platform is a Desktop application designed by Mastertrust Capital. First of all, the application is available to Windows users as well as Mac users. It has got all the fundamental features required for seamless trading operations; thus, they promote this application as its primary platform.
Mastertrust Capital Web Trading Platform
Like the Desktop application, this is a web-based platform, where you can access your account from any popular web browser like Google Chrome, Mozilla Firefox, or Internet Explorer. There is one catch;
however, you can’t access the account using a mobile phone web browser as it is not mobile-responsive. Apart from that, you will get all the desired features to do stock trading just the way you get in the Desktop application.
Mastertrust Capital Mobile Trading App
The third and final Trading platform that Mastertrust Capital offer is a Mobile app. It comes in both Android as well as iOS versions; so, you can get it easily.
However, if you still own a Windows phone with backdated OS, you will not be able to take advantage of this platform. Just like the other two platforms, this one also comes with all the essential features in-built for stock trading.
| Mastertrust Trading Platforms | |
| Here you will find all the important trading platforms available with Mastertrust | |
| Do they have Trading Terminals for Windows? | Yes |
| Do they have Trading Terminals for Mac? | Yes |
| Are they providing a Web Trading Platform? | Yes |
| Do they have a Mobile Web Platform? | No |
| Does this broker provide Mobile Trading App for Android? | Yes |
| Does this broker provide Mobile Trading App for iOS? | Yes |
| Are they having Mobile App for Windows OS? | No |
| Do they have Mobile Trading App for Other OS? | No |
What are the features available in Mastertrust Trading Applications?
Check the various features of the Trading Platforms below –
Mastertrust Capital Trading Terminal Features
When we talk about the Mastertrust Capital Trading Terminal, we should start with the fact that it comes with the Easy Installation option. It has features like Real-time Updates and Portfolio Details in-built in it, but lacks essential features like Online MF Buy and Research Reports as well.
Mastertrust Capital Web Trading Platform Features
The Mastertrust Capital Web Trading platform has all those features as well including News Flash, Global Indices, and Stock Tips. However, the Personalized Advisory feature is not available.
Mastertrust Capital Mobile Trading App Features
Mastertrust Capital Trading App is, without a doubt much more seamless and has all the previous-mentioned features in it. Additionally, it has Interactive Chartings, Live Markets data, SMS Alerts, and Email Alerts also in it.
| Mastertrust Trading Application Features | |
| Here you will find various features available in Trading Platforms provided by Mastertrust | |
| Are these platforms capable of Real-time Updates? | Yes |
| Do these Applications provide Portfolio Details? | Yes |
| Are this software providing Online MF Buy? | No |
| Do these platforms have News Flash? | Yes |
| Are these platforms providing Research Reports? | No |
| Are these platforms Easy to Install & use? | Yes |
| Do these Apps have Global Indices? | Yes |
| Are these platforms having Stock Tips? | Yes |
| Does this software provide Personalized Advisory? | No |
| Are these platforms capable of Interactive charting? | Yes |
| Do these Apps provide Live Markets data? | Yes |
| Do they provide SMS Alerts? | Yes |
| Are they providing Email Alerts? | Yes |
| Do these platforms have a Multi-Account Management solution? | No |
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What are the various Products provided by Mastertrust?
Mastertrust Capital products are limited to a great extent. Mostly, they offer conventional products. But, in today’s era, it is essential to be versatile. People want all their stock trading products to be in one place.
So, the fact that some of the crucial product lines are missing from their arsenals, such as Mutual Funds, Forex, Banking, SIP, and Insurance, can be frustrating for the clients. Having said so, they do offer conventional products like Equity Trading, Commodity Trading, Currency Trading, Options Trading, and Futures Trading.
We can see the scenario in two different ways, however. First, they want to stay focused on a particular set of products and want to thrive on that. This can be a sound strategy. Yet, the next point can be established people want everything in one place. So, eventually, they are losing the scope to earn more.
| Mastertrust Products | |
| Here are the various products provided by Mastertrust | |
| Does the broker allow Equity Trading? | Yes |
| Does the broker allow Commodity Trading? | Yes |
| Do they have Currency Trading products available? | Yes |
| Do they provide Options trading? | Yes |
| Are the clients allowed to trade in Futures? | Yes |
| Do they have Mutual Funds as a product? | No |
| Does the broker allow Forex trading? | No |
| Does the broker have Banking products? | No |
| Is SIP allowed by the broker? | No |
| Do they have Insurance as a Product? | No |
What are the various Services offered by Mastertrust?
If we want to describe the Mastertrust Capital services, we can say they are limited and unsettling. We can begin the conversation yet again with the Demat and Trading account-related activities. Some of them are free, some are not, but they do offer the service.
Some people do expect companies to provide 3-in-1 accounts; however, such is not the case for Mastertrust Capital either. They provide essential services like Intraday, IPO, and Stock Recommendations, but lack some critical ones as well like Robo Advisory and PMS.
There is one fascinating incident here. Despite Mastertrust Capital not being an official Trading Institution, they somehow managed to offer up to 5x Trading Exposure, which is quite an achievement in itself.
| Mastertrust Services | |
| Check out the various services provided by Mastertrust | |
| Does the broking house provide Demat Services? | Yes |
| Does the broking house provide Trading Services? | Yes |
| Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C? | No |
| Do they provide Intraday Services? | Yes |
| Are they offering IPO Services to the client? | Yes |
| Do they have Stock Recommendations available? | Yes |
| Are they providing tools for Robo Advisory? | No |
| Does the broker provide PMS? | No |
| Do they have Trading Institution available? | No |
| What is the Trading Exposure this broker provides? | Upto 5x |
Does Mastertrust provide Research & Advisory to their clients?
Let us start with the Mastertrust Capital Research services. They share significant information services like Fundamental Reports, Market Reviews, Weekly Reports, IPO Reports, and Research Reports with their respective clients.
However, the three most critical information services are missing, too – Company Reports, Monthly Reports, and Annual Reports. Now, let’s move on to the Mastertrust Capital Tips services which primarily consist of Free Stock Tips and Top Picks for clients.
Like the other two services, the Mastertrust Capital Advisory services include Offline Advisory and Dedicated Relationship Manager service.
| Mastertrust Research, Advisory & Stock Tips | |
| Here are the various research activities done by Mastertrust | |
| Does the broker share Fundamental Reports? | Yes |
| Does the broker share Research Reports? | Yes |
| Do they provide Company Reports to their clients? | No |
| Are they analyzing the Annual Reports of Companies? | No |
| Do they share Company Stock Reviews? | No |
| Are they sharing Free Stock Tips with their clients? | Yes |
| Do they analyze & share IPO Reports? | Yes |
| Does the broking company provide Top Picks? | Yes |
| Are they sharing Daily Market Review? | Yes |
| Do they have Monthly Reports? | No |
| Does the broker provide Weekly Reports? | Yes |
| Are they having Offline Advisory? | Yes |
| Do they provide Relationship Managers to clients? | Yes |
What are the Customer Care details of Mastertrust?
There is a total of 35 branches of Mastertrust Capital spread all around the country. So, if we want to start talking about the Mastertrust Capital customer care service, we should first mention that they provide services via their Dedicated Dealers.
Then it is crucial to say as well that offer support to both Online and Offline users. 24×7 customer care support is one of the contributing factors to the people trusting them so much. However, quick problem escalations modes are not available. Such as the likes of Email Support and Chat Support are missing from their service vault.
| Mastertrust Customer Support | |
| Let’s have a better understanding of Customer Care Service of Mastertrust | |
| Are they providing Dedicated Dealer to their clients? | Yes |
| Do they allow Offline Trading? | Yes |
| Do they have facilities for Online Trading? | Yes |
| Are they providing 24*7 Support? | Yes |
| Does this broker provide Email Support? | No |
| Is this broker having Chat Support? | No |
| How many Branches the stock broker has? | 35 |
Are there any Complaints filed against Mastertrust by their clients?
Considering they are a 26-year-old company, we can expect some complaints and grievances from their clients. So, over the years, the number of Mastertrust Capital complaints filed from the BSE is 56, out of which 53 issues have been dealt with successfully.
When it comes to the number of complaints from the BSE, that number increases significantly to 112 complaints. 105 of them have been resolved thereafter. Now, we must say the numbers are not severe, but they should introduce sound strategies and deploy them correctly to eradicate the number of issues in the future.
| Mastertrust Complaints | |
| Here you will know about the Complaints lodged against Mastertrust | |
| What is the total number of Complaints Lodged in BSE? | 56 |
| How many of these complaints have been Resolved in BSE? | 53 |
| What is the total number of Complaints Lodged in NSE? | 112 |
| How many of these complaints have been Resolved in NSE? | 105 |
What are the advantages & benefits of Mastertrust Capital Trading accounts?
While you are thinking of opening a new Mastertrust Capital Trading account, you should know that there are some significant advantages and disadvantages of being associated with them.
While the products and services are limited, they offer a very reasonable Brokerage fee. Trading Platforms are always a point of concern for them while they make it up for the experience they hold. Overall, they are a trustworthy company operating for over 26 years. So, you can rely on them.
What are the Mastertrust Review & Ratings as per their Customer?
The Mastertrust Capital review system starts with their Research & Advisory services with 6 out of 10, while for the Brokerage and other fees structure, people have rated them 6.1 out of 10.
The Trading platforms received the worse ratings of 5.8 out of 10, while their overall experience topped the charts with 6.6 out of 10. The Mastertrust Capital rating is 6.2 out of 10, which we believe is decent enough to rate among one of the best stock trading companies in India
| Mastertrust Ratings & Reviews | |
| We are looking at Companies’ Ratings on various parameters | |
| Stock Market Research & Broking Advisory | 6.0/10 |
| Brokerage & other Charges like – Turnover, Transaction Charges, etc. | 6.1/10 |
| Types of Products & Services the Brand provides | 6.5/10 |
| Performance Mobile App, Trading Terminal & Web Trading Platform | 5.8/10 |
| Experience in the Broking Business | 6.6/10 |
| Total Avg. Rating of Broking House | 6.2/10 |
| Star Rating of given to Stock Broker | ★★★☆☆ |
| Number of People Contributed to these Ratings | 249 |
The Conclusion
After careful observation, we believe Mastertrust Capital is a reliable company. They offer very subtle but limited products and services.
That means they prioritize quality over quantity. Their fee structure is one of their best-selling points, and not been so many complaints over the years. So, we recommend you Mastertrust Capital for you to consider.
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