Groww vs m.Stock
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Groww
VS
m.Stock
Groww vs m.Stock — quick verdict
Choose Groww if
You want low-cost, self-directed trading
Investing Made Simple
Choose m.Stock if
You want low-cost, self-directed trading
One Account. Zero Brokerage. Lifetime Investing.
Company overview
Groww is a discount broker incorporated in 2016; m.Stock is a discount broker incorporated in 1985*.
| Parameter | Groww | m.Stock |
|---|---|---|
| Type of broker | Discount Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX |
| Year of incorporation | 2016 | 1985* older |
| Number of branches | Not Disclosed | 196+ |
| Active clients | ~1.29 Crore larger | 12 Lakh+ |
Charges & AMC
Account-opening and maintenance charges for Groww and m.Stock compared side by side.
| Parameter | Groww | m.Stock |
|---|---|---|
| Trading a/c opening | ₹0 (Free) | ₹0 |
| Trading a/c AMC | ₹0 (Free) | ₹0 |
| Demat a/c opening | ₹0 (Free) | ₹0 |
| Demat a/c AMC | ₹0 (Free) lower | ₹999 + GST (One-time Lifetime AMC Plan)* |
| DP charges (per ISIN, sell) | Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) lower | ₹13.5 + GST per debit transaction |
Brokerage charges
How Groww and m.Stock price each trading segment, per executed order.
| Parameter | Groww | m.Stock |
|---|---|---|
| Equity Delivery | ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) | ₹0 (Zero Brokerage Plan) |
| Equity Intraday | ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) | ₹5 per executed order* |
| Equity Futures | ₹20 per executed order | ₹5 per executed order* |
| Equity Options | ₹20 per executed order | ₹5 per executed order* |
| Currency F&O | ₹20 per executed order | ₹5 per executed order* |
| Commodity F&O | ₹20 per executed order | ₹5 per executed order* |
| Call & Trade | Not Available | ₹20 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Groww and m.Stock, per segment.
| Parameter | Groww | m.Stock |
|---|---|---|
| Equity Delivery | NSE: 0.00297% | BSE: 0.00375% | NSE: 0.00297% • BSE: 0.00375% |
| Equity Intraday | NSE: 0.00297% | BSE: 0.00375% | NSE: 0.00297% • BSE: 0.00375% |
| Equity Futures | NSE: 0.00173% | BSE: 0.00% | NSE: 0.00173% |
| Equity Options | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) | NSE: 0.03503% (on premium) |
| Currency Futures | NSE: 0.00012% | BSE: 0.00005% | NSE: 0.00035% |
| Currency Options | NSE: 0.0325% (on premium) | BSE: 0.001% (on premium) | NSE: 0.03110% (on premium) |
| Commodity Futures | MCX: 0.00210% | MCX: 0.00210% |
| Commodity Options | MCX: 0.04180% (on premium) | MCX: 0.04180% (on premium) |
Demat & DP charges
Depository (demat) charges for Groww and m.Stock — AMC, debit transactions, pledging and remat.
| Parameter | Groww | m.Stock |
|---|---|---|
| Demat Account Opening | ₹0 (Free) | ₹0 |
| Transaction Charges (Sell) | Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) | — |
| Transaction Charges Demat Account Opening ₹0 (Free) Transaction Charges (Sell) Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) Annual Maintenance Charges (AMC) | ₹0 | — |
| Pledge / Unpledge | ₹20 per ISIN | — |
| Remat | ₹150 per certificate + courier charges | — |
| Failed Demat Transaction | ₹50 per ISIN | — |
| Annual Maintenance Charges (AMC) | — | ₹999 + GST (One-time Lifetime AMC Plan) |
| Debit Transaction Charges | — | ₹13.5 + GST per debit transaction |
| Pledge / Unpledge Charges | — | ₹20 + GST per request |
| Dematerialisation (Demat) | — | ₹150 per certificate + GST |
| Rematerialisation (Remat) | — | ₹150 per certificate + GST |
| Failed Transactions | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Groww and m.Stock.
| Parameter | Groww | m.Stock |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | As per SEBI peak margin rules (Up to 5x*) | VAR + ELM Margin (Up to 5x*) |
| F&O (Equity/Currency/Commodity) | SPAN + Exposure Margin (1x) | SPAN + Exposure Margin (As per available margin) |
| Equity Options (Buy) | — | Premium Value (Not Applicable) |
| Equity Options (Sell) | — | SPAN + Exposure Margin (As per available margin) |
| Currency Futures & Options | — | SPAN + Exposure Margin (As per available margin) |
| Commodity Futures & Options | — | SPAN + Exposure Margin (As per available margin) |
Features & account
Account type and feature availability across Groww and m.Stock.
| Parameter | Groww | m.Stock |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Groww Web, Groww Mobile App, Groww API | m.Stock Web, m.Stock Mobile App, m.Stock Desktop |
| Intraday square-off | 3:20 PM | 3:15 PM |
| Other | Stock SIP, Option Chain, Price Alerts, Advanced Charts, Watchlists, Portfolio Tracking, Margin Trading Facility (MTF), IPO Investment, Direct Mutual Funds. | Option Chain, Advanced Charting, Basket Orders, API Trading, Algo Trading Support, Price Alerts, eDIS, Margin Trading Facility (MTF), Smart Watchlists |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Groww and m.Stock.
| Parameter | Groww | m.Stock |
|---|---|---|
| Trading platforms offered | Groww Web, Groww App | m.Stock Web, m.Stock Mobile App, m.Stock Desktop |
| Number of platforms | 2 | 3 more choice |
| Platforms (summary) | Groww Web, Groww Mobile App, Groww API | m.Stock Web, m.Stock Mobile App, m.Stock Desktop |
| Mobile / desktop apps | Web, Mobile | Web, Mobile, Desktop |
User ratings
User ratings for Groww and m.Stock across the key parameters.
| Rated on | Groww | m.Stock |
|---|---|---|
| Fees | 4.7 | 4.9 better |
| Brokerage | 4.6 | 5 better |
| Trading platform | 4.8 better | 4.5 |
| Customer service | 4.3 | 4.3 |
| Research | 4.1 | 4.1 |
| Overall | 4.6 | 4.6 |
Investment options
Which investment products Groww and m.Stock let you access.
| Parameter | Groww | m.Stock |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by Groww and m.Stock.
| Parameter | Groww | m.Stock |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes | ✓ Yes |
Safety & credibility
SEBI registration, financial strength and complaint record for Groww and m.Stock.
| Parameter | Groww | m.Stock |
|---|---|---|
| SEBI registration | INZ000301838 | INZ000163138 |
| NSE member code | 90187 | 13198 |
| Year of incorporation | 2016 | 1985* longer track record |
| Net worth | Not Publicly Disclosed | ₹2,611.66 Cr |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX |
| Latest complaint ratio | 0.009% | 0.002% fewer complaints |
Complaints record
Exchange complaint data for Groww and m.Stock — the ratio matters more than the raw count.
| Parameter | Groww | m.Stock |
|---|---|---|
| Latest financial year | 2023–24 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 95,38,609 larger base | 12,18,457 |
| Complaints filed | 834 | 19 |
| Complaint ratio | 0.009% | 0.002% fewer complaints |
Pros & cons
The main advantages and drawbacks of each broker.
Groww
▲ Pros
- ✓ Simple and beginner-friendly trading platform.
- ✓ Fully digital and paperless account opening process.
- ✓ Supports investment in stocks, mutual funds, ETFs, IPOs and F&O.
- ✓ Available on both web and mobile platforms.
- ✓ Transparent brokerage structure.
- ✓ Easy portfolio tracking and fund management.
- ✓ Supports multiple exchanges including NSE, BSE and MCX.
- ✓ Secure online investment platform with modern trading tools.
▼ Cons
- ✕ Limited physical branch network.
- ✕ Research and advisory services are comparatively limited.
- ✕ Call & Trade facility is not available.
- ✕ Advanced trading features may be fewer than some full-service brokers.
- ✕ Customer support response time may vary during peak market hours.
- ✕ Margin funding and premium research offerings are limited compared to some competitors.
m.Stock
▲ Pros
- ✓ Zero brokerage plans available for eligible customers.
- ✓ Low-cost trading across multiple segments.
- ✓ Backed by the globally recognized Mirae Asset Financial Group.
- ✓ Supports stocks, F&O, commodities, IPOs, mutual funds, ETFs, and bonds.
- ✓ Margin Trading Facility (MTF) and advanced trading platforms available.
- ✓ Fully digital and paperless account opening.
▼ Cons
- ✕ Research offerings are comparatively limited versus full-service brokers.
- ✕ Call & Trade service is chargeable.
- ✕ Some pricing benefits are available only under specific subscription plans.
- ✕ Physical branch presence is smaller than traditional full-service brokers.
- ✕ Advanced advisory services are limited compared to research-focused brokers.
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