m.Stock vs SMC Global
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
m.Stock
VS
SMC Global
m.Stock vs SMC Global — quick verdict
Choose m.Stock if
You want low-cost, self-directed trading
One Account. Zero Brokerage. Lifetime Investing.
Choose SMC Global if
You want research and offline support
Your Financial Partner.
Company overview
m.Stock is a discount broker incorporated in 1985*; SMC Global is a full-service broker incorporated in 1994.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Type of broker | Discount Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX · MSEI |
| Year of incorporation | 1985* older | 1994 |
| Number of branches | 196+ | 2,500+ wider |
| Active clients | 12 Lakh+ larger | 4 Lakh+ |
Charges & AMC
Account-opening and maintenance charges for m.Stock and SMC Global compared side by side.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Trading a/c opening | ₹0 | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹999 + GST (One-time Lifetime AMC Plan)* | ₹399 + GST per year lower |
| DP charges (per ISIN, sell) | ₹13.5 + GST per debit transaction lower | ₹15.93 per debit transaction (including GST) |
Brokerage charges
How m.Stock and SMC Global price each trading segment, per executed order.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Equity Delivery | ₹0 (Zero Brokerage Plan) | 0.30% |
| Equity Intraday | ₹5 per executed order* | 0.30% |
| Equity Futures | ₹5 per executed order* | 0.30% |
| Equity Options | ₹5 per executed order* | ₹20 per executed order |
| Currency F&O | ₹5 per executed order* | 0.03% |
| Commodity F&O | ₹5 per executed order* | 0.03% |
| Call & Trade | ₹20 per executed order | ₹20 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by m.Stock and SMC Global, per segment.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| 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% | NSE: 0.00173% |
| Equity Options | NSE: 0.03503% (on premium) | NSE: 0.03503% (on premium) |
| Currency Futures | NSE: 0.00035% | NSE: 0.00035% |
| Currency Options | NSE: 0.03110% (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 m.Stock and SMC Global — AMC, debit transactions, pledging and remat.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Demat Account Opening | ₹0 | ₹0 |
| Annual Maintenance Charges (AMC) | ₹999 + GST (One-time Lifetime AMC Plan) | ₹399 + GST per year |
| Debit Transaction Charges | ₹13.5 + GST per debit transaction | ₹15.93 per debit transaction (including GST) |
| Pledge / Unpledge Charges | ₹20 + GST per request | ₹25 + GST per request |
| Dematerialisation (Demat) | ₹150 per certificate + GST | ₹150 per certificate + GST |
| Rematerialisation (Remat) | ₹150 per certificate + GST | ₹150 per certificate + GST |
| Failed Transactions | Nil | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by m.Stock and SMC Global.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | VAR + ELM Margin (Up to 5x*) | VAR + ELM Margin (Up to 5x*) |
| Equity Futures | SPAN + Exposure Margin (As per available margin) | SPAN + Exposure Margin (As per available margin) |
| Equity Options (Buy) | Premium Value (Not Applicable) | Premium Value (Not Applicable) |
| Equity Options (Sell) | SPAN + Exposure Margin (As per available margin) | SPAN + Exposure Margin (As per available margin) |
| Currency Futures & Options | SPAN + Exposure Margin (As per available margin) | SPAN + Exposure Margin (As per available margin) |
| Commodity Futures & Options | SPAN + Exposure Margin (As per available margin) | SPAN + Exposure Margin (As per available margin) |
Features & account
Account type and feature availability across m.Stock and SMC Global.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| 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 | SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro |
| 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 | Research Reports, Trading Calls, Option Chain, Advanced Charting, Basket Orders, Price Alerts, Portfolio Tracker, Margin Trading Facility (MTF), IPO Investment, Wealth Management |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by m.Stock and SMC Global.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Trading platforms offered | m.Stock Web, m.Stock Mobile App, m.Stock Desktop | SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro |
| Number of platforms | 3 | 3 |
| Platforms (summary) | m.Stock Web, m.Stock Mobile App, m.Stock Desktop | SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro |
| Mobile / desktop apps | Web, Mobile, Desktop | Web, Mobile, Desktop |
User ratings
User ratings for m.Stock and SMC Global across the key parameters.
| Rated on | m.Stock | SMC Global |
|---|---|---|
| Fees | 4.9 better | 4.1 |
| Brokerage | 5 better | 4.2 |
| Trading platform | 4.5 better | 4.3 |
| Customer service | 4.3 | 4.5 better |
| Research | 4.1 | 4.8 better |
| Overall | 4.6 better | 4.3 |
Investment options
Which investment products m.Stock and SMC Global let you access.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| 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 SMC Global.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Bracket Order | ✕ No | ✓ Yes better |
| Cover Order | ✕ No | ✓ Yes better |
| 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 SMC Global.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| SEBI registration | INZ000163138 | INZ000199438 |
| NSE member code | 13198 | 06611 |
| Year of incorporation | 1985* longer track record | 1994 |
| Net worth | ₹2,611.66 Cr | ₹3,215+ Cr stronger |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX · MSEI |
| Latest complaint ratio | 0.002% fewer complaints | 0.004% |
Complaints record
Exchange complaint data for m.Stock and SMC Global — the ratio matters more than the raw count.
| Parameter | m.Stock | SMC Global |
|---|---|---|
| Latest financial year | 2025–26 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 12,18,457 larger base | 4,21,538 |
| Complaints filed | 19 | 17 |
| Complaint ratio | 0.002% fewer complaints | 0.004% |
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.
SMC Global
▲ Pros
- ✓ Strong equity, commodity, and currency research.
- ✓ Wide range of investment and wealth management products.
- ✓ Large nationwide branch and franchise network.
- ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, and insurance.
- ✓ Advanced web, mobile, and desktop trading platforms.
- ✓ Dedicated relationship managers and advisory services.
▼ Cons
- ✕ Brokerage charges are higher than discount brokers.
- ✕ Annual Demat AMC is applicable.
- ✕ Some advanced advisory services are available only to premium clients.
- ✕ Trading platforms may have a steeper learning curve for beginners.
- ✕ Call & Trade charges apply.
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