In the realm of discount stockbroking, Zerodha and m.Stock are two prominent stock brokers that are known to offer the most affordable and seamless stock broking services to their clients. If you are looking to trade in stocks without paying high brokerage, you are likely to choose between these two popular discount brokers in India.
Hence, we have prepared a post that would highlight Zerodha vs. m.Stock and help you choose the best stock broker in India.
Zerodha Overview
Zerodha is a pioneering name in the field of discount broking. Started operating on 15th August 2010, Zerodha’s primary was to break all barriers faced by traders and investors regarding the cost, technology, and support. The name ‘Zerodha’ is made up of two terms – Zero and ‘Rodha’ which means barrier in Sanskrit. It offers flat brokerage services for investment in equity, commodity, currency, IPO, futures & options, govt. securities, bonds, and direct mutual funds.
The brokerage charges of Zerodha are Rs 0 brokerage for equity delivery trades and direct mutual funds. The best stock broker in India charges flat Rs 20 or 0.03% (whichever is lower) per trade for intraday and futures trading.
m.Stock Overview
Launched by Mirae Assets in 2022, m.Stock is a new player in the discount broking sector. Mirae Asset is a leading financial organization backed by more than 19 years of experience in capital markets. It has a fabulous presence in15 countries and manages assets worth almost USD 700 billion.
The first and foremost objective of m.Stock is to reset the Indian broking sector with its exceptional combination of zero brokerage across all products – delivery, intraday, F&O, currency, mutual funds, and IPOs – under its ₹999 plan. m.Stock also comes with an option to pay an extra amount of ₹999 and get rid of demat charges for life.
m.Stock features a quick, easy, stable, and smart trading platform that employs the latest technology and offers a seamless and secure trading experience to its clients.
Zerodha vs. m.Stock Features
Below are some of the major features of Zerodha and m.Stock.
Zerodha
- Easy access to stocks and IPOs
- Invest in direct mutual funds with zero brokerage
- Option to invest in derivatives such as stocks, currencies, and commodities
- Bonds and government securities
- Advanced trading platforms
- Safety and reliability
- Up to 20X leverage on intraday trading
- Maximum brokerage is capped at Rs. 20 per executed trade.
m.Stock
- Zero brokerage for all trades
- No order limit
- Digital account opening
- Advanced and powerful charts, cover orders, GTT, basket, options chain, etc
- No annual maintenance charges
- Wide-ranging investment choices
Zerodha vs. m.Stock Charges
Below are the account opening, brokerage, and other charges levied by Zerodha and m.Stock.
Zerodha
Account Opening
There are zero account opening charges levied by Zerodha where the annual maintenance charges are Rs. 300.
| Transaction | Charges |
| Trading & Demat Account Opening | Rs 0 |
| Trading Account AMC | Rs 0 |
| Demat Account AMC | Rs 300 per year |
Brokerage
Zerodha follows a flat fee brokerage model in which a flat amount of Rs. 20 or 0.03% (whichever is lower) is charged per executed order. There is no brokerage for equity delivery.
| Trading Category | Brokerage Applicable |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Future | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Options | Flat Rs 20 per executed order (on Turnover) |
| Currency Futures | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Currency Options | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Commodity | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Mutual Fund | Rs 0 (Free Unlimited Direct MF) |
m.Stock
m.stock is known for its low-cost and transparent pricing structure.
Account Opening
There are zero account opening charges levied by m.stock. In addition, there are no annual maintenance charges for Demat account management. In the case of trading account, there are zero charges for opening a trading account which means no cost trading.
Brokerage
The brokerage charges for m.Stock are defined below:
| Charges | Equity delivery | Equity intraday | Futures options | Options |
| Brokerage | Zero | Zero | Zero | Zero |
| Call & Trade Charges | Zero | Zero | Zero | Zero |
| STT/CTT | 0.1% on buy & sell | 0.025% on the sell side | 0.05% on the sell side (on premium) | 18% on (Brokerage + transaction charges) |
| Transaction charges | NSE: 0.00345% BSE: 0.00345% |
NSE: 0.00345% BSE: 0.00345% |
NSE: 0.002% | NSE: 0.053% (on premium) |
| GST | 18% on (Brokerage + transaction charges) | 18% on (Brokerage + transaction charges) | 18% on (Brokerage + transaction charges) | 0.003% or ₹300 / crore on buy-side |
| SEBI charges | ₹10 / crore + GST | ₹10 / crore + GST | ₹10 / crore + GST | ₹10 / crore + GST |
| Stamp charges | 0.003% or ₹300 / crore on buy-side | 0.002% or ₹200 / crore on buy-side | 0.003% or ₹300 / crore on buy-side | 0.003% or ₹300 / crore on buy side |
Zerodha vs. m.Stock – Trading Platforms
Zerodha
Zerodha Kite Web: The web-based trading platform by Zerodha is extremely easy to use and can be access through a web browser. It comes with a lot of features like Tradingview and ChartIQ charting tools, 100+ indicators, several watchlists, and different order types, including GTT. It also features an integration with Sensibull for options strategy backtesting.
Zerodha Kite Mobile App: This mobile trading application is highly robust and secure. It features advanced charting tools, multiple watchlists, technical indicators, and various order types. P&L reports can be accessed through third-party links.
Zerodha Coin: Long-term investors can invest in direct mutual funds, corporate bonds, government bonds, and sovereign gold bonds without paying commissions with this special software. It provides a dashboard to monitor orders and holdings.
m.Stock
m.Stock Web Portal: This web-based platform is an ideal trading solution for laptop and desktop users. It offers robustness, stability, and security without requiring any kind of software installation. It features advanced tools like calculators, fundamental and technical data, and Tradingview charts.
m.Stock’s Trading App: Primarily made for smartphone users, this mobile trading app offers a simple interface with features like 1-click order placement, option chain study, advanced order choices, and price alerts. It also offers live market data and FII/DII updates.
Conclusion
When it comes to choosing between Zerodha and m.Stock, the section of the top stock broker in India largely depends on one’s specific trading needs and preferences. Both the stockbrokers in India have their own pros and cons that need to be kept in mind while choosing between these two.
According to stock trading experts, it is necessary to keep all the underlying factors in mind while taking any decision. Though both discount brokers in India are known for their low-cost pricing structure, choose the one that matches your trading needs the best.
By Thetopstockbroker | August 13, 2024
Disclaimer: Information given in this article is for guidance only. we have intention to educate new investors. It is recommended to do proper research by investors before investing.