m.Stock vs SBI Securities

A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.

m.Stock
m.Stock
Discount Broker · since 1985*
VS
SBI Securities
Full-Service Broker · since 2006
SBI Securities

m.Stock vs SBI Securities — quick verdict

Choose m.Stock if

You want low-cost, self-directed trading

One Account. Zero Brokerage. Lifetime Investing.

Choose SBI Securities if

You want research and offline support

Investing Made Easy.

Company overview

m.Stock is a discount broker incorporated in 1985*; SBI Securities is a full-service broker incorporated in 2006.

Parameterm.StockSBI Securities
Type of broker Discount Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX
Year of incorporation 1985* older 2006
Number of branches 196+ 1,000+ SBI Investor Service Centres & Ba wider
Active clients 12 Lakh+ ~13.7 lakh larger

Charges & AMC

Account-opening and maintenance charges for m.Stock and SBI Securities compared side by side.

Parameterm.StockSBI Securities
Trading a/c opening ₹0 ₹0 (Free)
Trading a/c AMC ₹0 ₹0 (Free)
Demat a/c opening ₹0 ₹0 (Free)
Demat a/c AMC ₹999 + GST (One-time Lifetime AMC Plan)* ₹0 (Free for the first year), thereafter as per applicable tariff plan lower
DP charges (per ISIN, sell) ₹13.5 + GST per debit transaction lower ₹15.34 per debit transaction

Brokerage charges

How m.Stock and SBI Securities price each trading segment, per executed order.

Parameterm.StockSBI Securities
Equity Delivery ₹0 (Zero Brokerage Plan) 0.50%
Equity Intraday ₹5 per executed order* 0.05%
Equity Futures ₹5 per executed order* 0.05%
Equity Options ₹5 per executed order* ₹50 per executed order
Currency F&O ₹5 per executed order* 0.05%
Commodity F&O ₹5 per executed order* 0.05%
Call & Trade ₹20 per executed order ₹50 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by m.Stock and SBI Securities, per segment.

Parameterm.StockSBI Securities
Equity Delivery NSE: 0.00297% • BSE: 0.00375% NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Intraday NSE: 0.00297% • BSE: 0.00375% NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%)
Equity Futures NSE: 0.00173% NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%)
Equity Options NSE: 0.03503% (on premium) NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%)
Currency Futures NSE: 0.00035% NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%)
Currency Options NSE: 0.03110% (on premium) NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%)
Commodity Futures MCX: 0.00210% MCX ₹260 per Cr (0.00260%)
Commodity Options MCX: 0.04180% (on premium) MCX ₹5,000 per Cr (0.05%)

Demat & DP charges

Depository (demat) charges for m.Stock and SBI Securities — AMC, debit transactions, pledging and remat.

Parameterm.StockSBI Securities
Demat Account Opening ₹0 ₹0 (Free)
Annual Maintenance Charges (AMC) ₹999 + GST (One-time Lifetime AMC Plan) ₹0 (First Year), thereafter as per tariff
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 Nil
Transaction Charges (Sell) — ₹15.34 per debit transaction
Pledge Creation / Invocation — ₹25 + GST per request
Remat — ₹25 per certificate + applicable charges

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by m.Stock and SBI Securities.

Parameterm.StockSBI Securities
Equity Delivery 100% of trade value (1x) 100% of trade value (1x)
Equity Intraday VAR + ELM Margin (Up to 5x*) As per SEBI peak margin norms (Up to 5x)
Equity Futures SPAN + Exposure Margin (As per available margin) SPAN + Exposure Margin (1x)
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 m.Stock and SBI Securities.

Parameterm.StockSBI Securities
3-in-1 account ✕ No ✓ Yes better
Automated / API trading ✓ Yes better ✕ No
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✓ Yes ✓ Yes
Trading platforms m.Stock Web, m.Stock Mobile App, m.Stock Desktop SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Intraday square-off 3:15 PM 3:15 PM
Other Option Chain, Advanced Charting, Basket Orders, API Trading, Algo Trading Support, Price Alerts, eDIS, Margin Trading Facility (MTF), Smart Watchlists 3-in-1 account, MTF, research reports, IPO investment, mutual funds, ETFs and fixed-income products.

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by m.Stock and SBI Securities.

Parameterm.StockSBI Securities
Trading platforms offered m.Stock Web, m.Stock Mobile App, m.Stock Desktop SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Number of platforms 3 3
Platforms (summary) m.Stock Web, m.Stock Mobile App, m.Stock Desktop SBI Smart, SBI Securities Mobile App, SBI Smart Xpress
Mobile / desktop apps Web, Mobile, Desktop Web, Mobile, Desktop

User ratings

User ratings for m.Stock and SBI Securities across the key parameters.

Rated onm.StockSBI Securities
Fees 4.9 better 4.2
Brokerage 5 better 4.2
Trading platform 4.5 better 4.3
Customer service 4.3 4.4 better
Research 4.1 4.5 better
Overall 4.6 better 4.3

Investment options

Which investment products m.Stock and SBI Securities let you access.

Parameterm.StockSBI Securities
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 m.Stock and SBI Securities.

Parameterm.StockSBI Securities
Bracket Order ✕ No ✕ No
Cover Order ✕ No ✕ No
BTST ✓ Yes ✓ Yes
After Market (AMO) ✓ Yes ✓ Yes
GTC / GTT ✓ Yes better ✕ No

Safety & credibility

SEBI registration, financial strength and complaint record for m.Stock and SBI Securities.

Parameterm.StockSBI Securities
SEBI registration INZ000163138 INZ000200032
NSE member code 13198 13018
Year of incorporation 1985* longer track record 2006
Net worth ₹2,611.66 Cr stronger ₹1,000+ Cr
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX
Latest complaint ratio 0.002% fewer complaints 0.088%

Complaints record

Exchange complaint data for m.Stock and SBI Securities — the ratio matters more than the raw count.

Parameterm.StockSBI Securities
Latest financial year 2025–26 2025-26
Exchange NSE NSE
Active clients 12,18,457 13,69,945 larger base
Complaints filed 19 1,208
Complaint ratio 0.002% fewer complaints 0.088%

Pros & cons

The main advantages and drawbacks of each broker.

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.
SBI Securities

▲ Pros

  • ✓ Integrated 3-in-1 account with SBI Bank.
  • ✓ Trusted SBI Group full-service broker.
  • ✓ Comprehensive equity research and investment recommendations.
  • ✓ Trade in Stocks, F&O, IPOs, Mutual Funds, ETFs and Bonds.
  • ✓ Advanced web and mobile trading platforms.
  • ✓ Margin Trading Facility (MTF) available.
  • ✓ Wide branch network and customer support.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Demat AMC may apply after the promotional period.
  • ✕ Call & Trade service is chargeable.
  • ✕ Advanced trading tools are limited compared to some competitors.
  • ✕ Certain services and brokerage plans have eligibility conditions.
Open m.Stock Account Open SBI Securities Account

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Compare SBI Securities with

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Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.