m.stock Onboarded Over 1 Lakh Paid Accounts Within 8 Months of Launch, One of the Fastest Among Online Retail Broking Platforms
Mumbai, 15 December 2022: Mirae Asset, a renowned international financial services group, today announced crossing 1 lakh paid retail accounts on m.Stock, its online retail stockbroking platform. Launched in April 2022, m.Stock offers access to multiple trading and investment products under one roof paired with a zero-brokerage and no-commission model.
m.Stock has grown their customer base by 60% in November 2022 over the previous month, and has 73% active customers on its platform. 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. Further, the total turnover on the platform, to date has surpassed ₹40,000 crore from over 2.9 crore trades. They are clocking over 5 lakh daily trades on average.
m.Stock, also provides Margin Trading Facility (eMargin) to its customers at highly competitive interest rates ranging from 7.99% to 9.49% p.a. So far, they have seen huge success with eMargin, accumulating a nettbook size (m.Stock funding) of over ₹100crore in just 92 days!
Commenting on the milestone, Arun Chaudhry, Director & Chief Business Officer, Mirae Asset Capital Markets (India) Pvt. Ltd said, “We at m.Stock, are absolutely thrilled to witness these stellar growth numbers in such a short period of time. From the very beginning, we have been laser-focused on creating products that add value to our customers’ lives. With the help of our parent group, Mirae Asset’s global expertise and guidance, we have managed to cross 1 lakh paid customers and it’s absolutely wonderful to share this with everyone.”
m.Stock’s unique and seamless trading platform paired with a ‘Zero Brokerage and no-commission’ model has made it a lucrative proposition for both seasoned traders as well as investors.
