BusinessWire India
Mumbai (Maharashtra) [India], May 14: Mirae Asset Capital Market's retail stock broking platform, m.Stock, which was launched in 2022, has been creating waves in the broking industry with its unique 'zero brokerage for life' proposition. Already attaining profitability in less than two years, the app has achieved significant milestones.
Since its inception in 2022, m.Stock has capitalised on the changing business dynamics in the Indian broking industry. The increase in compliance and disclosure requirements has led to transparent dealings that encourage customers to experiment, while technological advancements have led to better compliance, operations, and enhanced user experience.
m.Stock has leveraged its superior technology to achieve all these KPIs and has managed to be rated as the top 16th stockbroker by the NSE. It has garnered abundant support from market participants with over 10 lakh customers, daily trade volumes of over 21 lakh and MTF (Margin Trading Facility) book size of Rs.1,350 crore+.
On this milestone moment, Jisang Yoo, CEO of m.Stock by Mirae Asset said, "As we celebrate two successful years of m.Stock by Mirae Asset, I am confident in our ability to continue thriving in the Indian financial market. With our dedicated team, we aim to remain at the forefront of innovation, fast, secure and stable platforms and solutions to investors. We are grateful for the trust our customers have placed in us and look forward to delivering on our promise of excellence in the years ahead."
Arun Chaudhry, Director and CBO of m.Stock by Mirae Asset, added, "Over the past two years, our commitment of providing customers with a fast, stable, and secure platform has stayed true. After the resounding success of our product MTF (eMargin), today, we're thrilled to introduce the Margin Pledge facility at a competitive rate of 11.99% p.a., with unique features like unlimited holding period. This much-awaited addition to our suite of services will get our customers to trade seamlessly within a single app. Furthermore, we are in the process of continuously revamping our platform and will be releasing it over the period of time. As we celebrate our second anniversary, we're excited to unveil an upgraded version of m.Stock is equipped with innovative features aimed at simplifying trading and enhancing the overall customer experience. I can confidently say that m.Stock is poised for exponential growth and we aim to emerge as one of the top 10 stockbrokers in the near future."
Maintaining its upward trajectory, m.Stock recently launched the Mirae Asset Partners Program, which is aimed at revolutionising the offerings given to Business Partners via 100% brokerage revenue sharing and opening up 9 distinct revenue-generating streams.
Continuing its successful journey, m.Stock remains committed to revolutionising the trading experience with innovative solutions and becoming a full-fledged financial service provider in India.
Source: NSE (Top 16 Digital Brokers based on NSE Active Client as on 31st March 2023).
https://www.nseindia.com/invest/arbitration-status
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