Online retail stock broking platform m.Stock onboards 1 lakh paid accounts within 8 months of launch

Financial services company Mirae Asset on Thursday announced that its online retail stock broking platform m.Stock has opened one lakh paid retail accounts.

Arun Chaudhry, director and chief business officer, Mirae Asset Capital Markets (India) Private Limited said, “We at m.Stock, are absolutely thrilled to witness this stellar growth numbers in such a short period of time. From the very beginning, we have been laser-focused on creating products that adds value to our customers’ lives. With the help of our parent group, Mirae Asset’s global expertise and guidance, we have managed to cross one lakh paid customers.”

Launched in April 2022, m.Stock offers access to multiple trading and investment products. m.Stock has grown its customer base by 60 per cent in November 2022 over the previous month, and has 73 per cent active customers on their platform, Mirae Asset said in its official statement.

"This is all despite the industry seeing a sustained decline in the active investor count since June 2022 due to uncertainty around the economic environment, lacklustre one-year returns, and diminishing retail euphoria weighing down market participation," the firm added.

m.Stock by Mirae Asset offers zero brokerage across products like intraday, delivery, futures and options (F&O), currency, among others, at a one-time fee of Rs 999. It also provides margin trading facility (eMargin) to its customers at interest rates ranging from 7.99 per cent to 9.49 per cent per annum.

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