mStock is a financial brokerage firm that offers trading and investment services to its clients. This article provides a breakdown of the different charges that mStock levies on its customers.
The charges are divided into three categories: brokerage charges, account opening charges, and transaction charges.
The article explains each charge type in detail, including the various fees that are included, such as account opening fees, brokerage fees, transaction charges, annual maintenance fees, and transaction fees. Read on to know more about all types of charges levied by the brokerage on the investors.
mStock Brokerage Charges
|Mutual Fund (coming soon)||Free|
The table includes a list of various financial transaction types and the corresponding brokerage charges made by the broker. The many transaction types consist of:
- Delivery: This is when buying or selling stocks or other securities with a settlement date of a few days down the road.
- Intraday: When a position is closed out before the trading day’s finish, it refers to the purchase or sale of shares throughout the same trading day.
- Futures: Futures trading involves engaging in the buying or selling of specified assets at predetermined prices and dates through the utilization of futures contracts.
- Exchange-traded funds: ETFs, also referred to as exchange-traded funds, are investment vehicles that can be traded on stock markets, akin to singular stocks.
- MTF (eMargin): This abbreviation stands for margin trading facilities (MTF), where investors may purchase or sell securities by borrowing money from the broker.
- Options: Options trading involves the use of contracts that give buyers the freedom to buy or sell a specific asset at a predetermined price and date, without any obligation. These contracts are commonly known as options.
- Currency: Trading in currency pairings, where investors may purchase or sell one currency for another, is referred to as currency.
- Mutual Fund (coming soon): This alludes to the broker-facilitated trading in mutual funds that will soon be available.
The brokerage cost imposed by the broker for each type of transaction is 0, signifying that there are no brokerage fees associated with any of these transactions.
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mStock Account Opening Charges
|Type of Charge||Amount|
|Account Opening Charges||Rs. 0|
|AMC||Rs. 120 each quarter
Rs. 999 for free annual maintenance
The two different charge types are:
Account opening fees: These charges are what the brokerage company charges to start a new trading account. The fact that the account starting fees in the table are 0 suggests that there are no account opening fees levied by the brokerage business when a new trading account is opened.
Annual Maintenance Charges (AMC): This is the cost that the brokerage business levies to keep the trading account active each year.
According to the chart, the AMC is Rs. 120 for quarterly maintenance or Rs. 999 for free yearly maintenance. This indicates that the brokerage company charges a quarterly price of Rs. 120 for account maintenance or a yearly fee of Rs. 999 for free maintenance.
It is significant to remember that investors must continue to pay the AMC to maintain the status of their trading accounts.
The table gives investors a clear picture of the fees they may anticipate paying while opening and keeping an account with the brokerage firm, enabling them to decide on this business for their investing needs based on this information.
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mStock Transaction Charges
Following are the mStock transaction charges:
|Charge Type||Transaction charges (NSE)||Transaction charges (BSE)|
|Equity Options||0.050% (on premium)|
The transaction fees for various kinds of trading in the financial markets are broken down in the table.
- Equity Delivery: This category encompasses the expenses incurred when buying or selling equities to receive physical delivery. On the BSE, the fee is slightly higher, standing at 0.00375% while for the NSE the transaction charges is slightly lower at 0.00325%
- Intraday Equity : Intraday charges, means the charge that you need to pay for same trading day. Both the BSE and the NSE apply a fee of 0.00375% and 0.00325%, correspondingly, which aligns with the charges for equity delivery.
- Equity Futures: This form of fee is charged on futures contracts that are exchange-traded. The transaction fee for stock futures traded on the NSE is 0.0019%. Since the cost of BSE is not mentioned, it may be either unavailable or not relevant.
- Equity Options: These fees apply to stock options contracts. The premium amount of equity options is subject to a transaction fee of 0.050% on the NSE. There is no mention of the BSE fee, which suggests a situation akin to stock futures.
- Currency Futures: The transaction fees connected with trading currency futures are referred to as currency futures costs. The transaction fee for NSE currency futures is 0.0009%. The absence of a charge for BSE suggests that there may be no charge or that there is insufficient information.
- Currency Options: Only contracts for options on currency pairings are subject to these fees. Currency options traded on the NSE are subject to a transaction fee of 0.035%. The absence of the BSE charge raises questions about its availability or application.
mStock Other Charges
|DP Charges During Sell Transactions||Rs. 12|
|Call & Trade||Rs. 0|
|MTF Interest Rate||Upto 9.49%|
|DP (Depository Participant) Charges||Rs. 12 + GST / ISIN per day|
|Pledge Charges||Rs. 25 / PSN each day (GST excluded)|
|Quarterly Operating Charges||Rs. 99 + 18% GST / quarter|
|Delayed Payment Charges||18% / year or 0.05% / day|
|Physical CMR Request||First request: Free
Subsequent requests: Rs. 20 + Rs. 100 (courier charge) + 18% GST
|Payment Gateway Charges – Margin Fund Transfer||UPI: Free
Net banking: Rs. 7 – Rs. 11 + GST
|Physical Statement Courier Charges||Rs. 100 per request + Rs. 100 per courier|
|Demat per Certificate||Rs. 150 per certificate + Rs. 100 courier charges|
|Remat Charges||Rs. 150 per certificate + Rs. 100 courier charges + CDSL Charges|
|Failed Instruction Charges||Rs. 50 / instruction|
|Reactivation Charges||No charge|
|Modification Charges||Rs. 20 per request|
|Account Closure Charges||No charge|
|18% GST||On Brokerage, DP charges, Exchange Transaction charges, SEBI charges, and Auto Square-Off charges|
|Physical Delivery of Derivatives||Nominal brokerage 0.05% of the contract value|
Know the complete details of other charges of mStock Broker from the above table.
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mStock Regulatory and Government Charges
Following are the mStock government and regulatory charges:
|Charges||Equity Delivery||Intraday Equity||Equity Futures||Equity Options||Currency Futures||Currency Options|
|GST||18% includes transaction, brokerage and SEBI charges||18% includes transaction, brokerage and SEBI charges||*18% includes transaction, brokerage and SEBI charges||18% includes transaction, brokerage and SEBI charges||18% includes transaction and brokerage charges||*18% includes transaction and brokerage charges|
|SEBI charges||₹10 / crore||₹10 / crore||*₹10 / crore||₹10 / crore||₹10 / crore||*₹10 / crore|
|Stamp charges||0.015% or ₹1500 / crore on buy side||0.003% or ₹300 / crore on buy side||0.002% or ₹200 / crore on buy side||0.003% or ₹300 / crore on buy side||0.0001% or ₹10 / crore on buy side||0.0001% or ₹10 / crore on buy side|
|STT/CTT||0.1% on buy & sell||0.025% on the sell side||0.0125% on the sell side||0.125%||–||0.0625% on sell side (on premium)|
Here is a detailed explanation of these government charges levied on investors:
GST: GST charged is 18% for all types of trading and transactions. This tax encompasses various costs such as brokerage fees, transaction fees, and fees imposed by SEBI for all types of equity trading. When it comes to currency options, however, the Goods and Services Tax (GST) specifically apply to the brokerage and transaction fees.
SEBI fees: All transaction types are subject to a cost of Rs. 10 for each crore.
Stamp fees: Stamp fees depends on the type of transaction. The fee for delivering stock on the purchase side is either 0.015% of the transaction value or Rs. 1500 / crore.
Intraday equities trading on the purchase side incurs a fee of 0.003% or Rs. 300 / crore. A fee of Rs. 200 for each crore or 0.002% and Rs 300 for each crore or 0.003% is levied for purchasing equity futures and equity options respectively. Finally, currency options and futures on the buy side have a commission of 0.0001% or Rs. 10 per crore.
STT/CTT: The charges are limited to certain categories of transactions. When it comes to buying and selling shares for long-term ownership, a fee equivalent to 0.1% is levied on each side of the transaction. In the case of short-term sales of shares, the fee is 0.025%.
For selling equity futures, a fee of 0.0125% is applied and for purchasing equity options the fee is 0.125% of their intrinsic value. Also, one should note that currency futures have no STT/CTT charges, but currency options, have a fee of 0.0625% is imposed on the selling side.
Therefore, you can say that mStock as a brokerage firm offers budget-friendly and fair types of services. With its commitment to eliminating brokerage fees and providing customizable choices for account upkeep charges, mStock aims to deliver an economical and customer-focused encounter.
The charges associated with different trade types are delineated, enabling investors to make well-informed choices. Moreover, the accompanying blog highlights the government and regulatory fees that investors need to be aware of.
Ultimately, mStock’s mission is to empower investors by delivering affordable services and fostering transparency throughout the trading journey.
Let us have a look at the FAQs on mStock Charges:
What are the charges mStock impose for trading and investing?
mStock charges differentiate into account opening charges, brokerage charges, transaction charges, and other charges.
How much does it cost to open a trading account with mStock?
Opening a trading account is free of charge. There are no account opening fees.
Does mStock charge any maintenance fees for trading accounts?
Yes, mStock levies an annual maintenance fee of Rs. 120 for quarterly maintenance or Rs. 999 for free annual maintenance.
Are there any additional charges apart from brokerage and transaction fees?
Yes, mStock levies additional fees such as DP charges when selling stocks, charges for using payment gateways, fees for placing orders over the phone, interest rates for Margin Trading Facility (MTF), and various other charges.
Are there any charges for physical CMR requests or courier services?
The first physical CMR request is free, while subsequent requests incur charges of Rs. 20 along with a courier fee of Rs. 100.
Does mStock charge any fees for failed instructions or account reactivation?
Yes, mStock imposes a fee of Rs. 50 per failed instruction, but there are no charges for account reactivation.
Are there any charges for modifying account details or closing a mStock account?
Modifying account details incurs a fee of Rs. 20 per request, while there are no charges for closing a mStock account.
Are there any government charges or taxes applicable to mStock transactions?
Certainly! Different types of trade attract various government charges, including SEBI charges, stamp charges, GST (Goods and Services Tax), and STT/CTT (Securities Transaction Tax/Commodity Transaction Tax).
Open Demat Account with mStock Now! – Fill up the Form
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