Compare Upstox and m.Stock to find the best discount broker for your trading needs. Get insights on brokerage charges, AMC fees, trading platforms, features, and margin benefits. Choose the right broker for you today!
About Upstox
Upstox is a leading technology-driven discount brokerage firm in India, offering cost-effective trading solutions. It provides trading services across multiple segments, including equities, commodities, currencies, futures, and options. These services are accessible via Upstox Pro Web and Upstox Pro Mobile trading platforms. Upstox is backed by notable investors, including Kalaari Capital, Ratan Tata, and GVK Davix. The platform offers advanced trading features, such as real-time analysis, charting tools, and algorithmic trading capabilities.
Know more about Upstox
About m.Stock
m.Stock was launched in April 2022 by Mirae Asset Capital Markets (India) Pvt Ltd. It offers a zero-brokerage experience on equity delivery and IPO trades, along with Rs 5 brokerage on intraday and F&O transactions. m.Stock enables investments in stocks, currencies, IPOs, and mutual funds, ensuring a cost-effective trading environment. The platform also provides Rs 0 account opening fees and a free delivery plan for mutual funds, ETFs, and IPOs.
Upstox Vs m.Stock – Key Differences
| Feature | Upstox | m.Stock |
|---|---|---|
| Type of Broker | Discount Broker | Discount Broker |
| Exchange Membership | BSE, NSE, MCX | BSE, NSE, MCX |
| Year of Incorporation | 2012 | 2022 |
| Number of Branches | 4 | 0 |
Upstox Vs m.Stock – Charges & AMC
| Charges | Upstox | m.Stock |
|---|---|---|
| Trading Account Opening Charges | Rs 0 (Free) | Rs 0 (Free) |
| Trading Account AMC Charges | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account AMC Charges | Rs 150 per year | Rs 219 per quarter |
Upstox Vs m.Stock – Brokerage Comparison
| Transaction Type | Upstox | m.Stock |
|---|---|---|
| Equity Delivery | Rs 20 per order or 2.5% (whichever is lower) | Rs 0 (Free) |
| Equity Intraday | Rs 20 per order or 0.05% (whichever is lower) | Rs 5 per order |
| Equity Futures | Rs 20 per order or 0.05% (whichever is lower) | Rs 5 per order |
| Equity Options | Rs 20 per order | Rs 5 per order |
| Currency Futures | Rs 20 per order or 0.05% (whichever is lower) | Rs 5 per order |
| Currency Options | Rs 20 per order | Rs 5 per order |
| Commodity Futures | Rs 20 per order or 0.05% (whichever is lower) | NA |
| Commodity Options | Rs 20 per order | NA |
Upstox Vs m.Stock – Margin (Leverage)
| Segment | Upstox | m.Stock |
|---|---|---|
| Equity Delivery | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) |
| Equity Intraday | Up to 20% of trade value (5x leverage) | Up to 20% of trade value (5x leverage) |
| F&O (Equity, Currency, Commodity) | 100% of NRML margin (1x leverage) | 100% of NRML margin (1x leverage) |
Upstox Vs m.Stock – Trading Platforms & Features
| Feature | Upstox | m.Stock |
|---|---|---|
| 3-in-1 Account | No | No |
| Charting Tools | Yes | Yes |
| Automated Trading | Yes | No |
| SMS Alerts | No | Yes |
| Online Portfolio Tracking | No | Yes |
| Margin Trading Funding (MTF) | Yes | Yes |
| Margin Against Shares (Equity Cash & F&O) | Yes | Yes |
| Trading Platforms | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, Mobile App | Mobile App & Web Platform |
| Intraday Square-off Time | 3:00 PM | – |
| Trading in SME Shares | Yes | Yes |
| Referral Program | Yes | Yes |
| Unique Features | Option Strategy Builder | Buyback Trading |
Upstox Vs m.Stock – Investment Options
| Investment Type | Upstox | m.Stock |
|---|---|---|
| Stocks/Equity | Yes | Yes |
| Commodity | Yes | No |
| Currency | Yes | Yes |
| IPO | Yes | Yes |
| Mutual Funds | No | Yes |
| Bond/NCD | No | No |
| Debt Instruments | No | No |
| Additional Options | – | Pay Later (MTF), Pledge Shares |
Upstox Vs m.Stock – Order Types
| Order Type | Upstox | m.Stock |
|---|---|---|
| Bracket Order | No | Yes |
| Cover Order | Yes | Yes |
| Buy Today Sell Tomorrow (BTST) | No | No |
| Sell Today Buy Tomorrow (STBT) | No | No |
| After Market Order (AMO) | Yes | Yes |
| Good Till Cancelled (GTC) | Yes | Yes |
Upstox Vs m.Stock: Pros & Cons
Upstox Pros:
- Zero account opening fee
- Flat Rs 20 per trade for all segments
- Offers direct mutual funds
- Margin Against Shares available
- Online IPO, FPO, Bonds, and NCDs
Upstox Cons:
- Equity delivery brokerage fee of Rs 20 per trade
- No unlimited trading plans
- Does not offer stock recommendations
- No API access for automated trading
- Intraday square-off at 3 PM (earlier than other brokers)
m.Stock Pros:
- Zero brokerage on equity delivery and IPOs
- Rs 5 brokerage on intraday and F&O trades
- No hidden charges
m.Stock Cons:
- Limited research tools
- Customer support rated lower
- No automated trading feature
Final Verdict
Both Upstox and m.Stock offer competitive trading platforms with unique advantages. Upstox is ideal for active traders looking for advanced charting, algorithmic trading, and multiple trading tools. On the other hand, m.Stock stands out for its zero brokerage on delivery and IPO trades, making it an excellent choice for long-term investors. If you prioritize cost savings, m.Stock is a strong contender. However, if you need more extensive trading features, Upstox is a better option.