FxPro's websitemStock (Mirae Asset) in India — review, licence and costs
Score (5 of 6 axes scored)
shown, not ranked: no cost
- Reviews25%55
- Safety20%100
- Payouts15%60
- Track record10%20
- Platforms10%0
Numbered by weight: axis 1 counts for most.
Key facts (4 facts)
- Onboarding entity
- Pvt. Ltd
- Founded
- 2022
- Currencies
- INR.
- Swap-free account
- no
Licence check
The broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- Pvt. Ltd
- Local standing
- SEBI-regulated domestic discount broker.
- Licence as the register states it
- SEBI stock broker INZ000163138; member NSE/BSE/MCX; DP registered.
- Leverage for this entity
- Intraday MIS; MTF offered; SEBI peak-margin rules apply.
- The firm behind it
- Mirae Asset Capital Markets (India) incorporated 2017; m.Stock retail broking launched April 2022; ~460k active clients (Jun 2025).
- What we hold against it
- Relatively new entrant (since 2022); no major SEBI action verified at review.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Intraday MIS; MTF offered; SEBI peak-margin rules apply.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youSEBI-regulated domestic discount broker.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Accounts
Account types the broker names for this country: Demat+Trading, flat Rs.10/order plan, one-time Rs.999 lifetime-zero-AMC option. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where mStock (Mirae Asset) sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts(1 method)
| Method | Deposit, h | Withdrawal, h | Fee, USD | Min, USD |
|---|---|---|---|---|
| UPI | 24 | — | 0 | 50 |
Deposit and withdrawal methods (1 methods · 1 local)
UPI, net-banking.
- UPIlocal
- Account currency
- INR.
- Fee declared
- 1 of 1 methods
- Withdrawal back to
- the funding method
Where it does not serve(1 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- m.Stock app
- web
| Class | Leverage |
|---|---|
| m.Stock app | —IN |
| web | —IN |
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.1 | — |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(2 for and 3 against, each tied to a figure on this page)
- Locally authorised, licence INZ000163138, read on 09.07.2026
- Safety 100 of 100, its strongest of 5 scored axes
- Round-turn cost not priced: the pair of spread and commission is not published
- Platforms 0 of 100, its weakest of 5 scored axes
- Not scored on round-turn cost: the broker publishes no figure we could read
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 5IN
- Min deposit, USD
- 0 groupIN
- Rank in this country
- #2
- Round turn, USD
- 4IN
- Rank in this country
- #4
- Round turn, USD
- 10IN
- Min deposit, USD
- 15 groupIN
- Leverage
- 500 group
- Rank in this country
- #61
- Round turn, USD
- 4.5IN
- Min deposit, USD
- 0IN
- Leverage
- 500IN
- Rank in this country
- #3
- Round turn, USD
- 6IN
- Min deposit, USD
- 50IN
- Leverage
- 500IN
- Rank in this country
- #27
- Round turn, USD
- 6IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 500IN
- Rank in this country
- #15
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | mStock (Mirae Asset) |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 55 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | — |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 100 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 60 |
| Track record | 10% | Years since the firm was founded, from its own filings | 20 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 0 |
FAQ
- Does mStock (Mirae Asset) accept residents of India?
- Yes. SEBI-regulated domestic discount broker. Onboarding entity: Pvt. Ltd
- Is mStock (Mirae Asset) licensed to serve clients in India?
- SEBI stock broker INZ000163138; member NSE/BSE/MCX; DP registered. Checked on 09.07.2026.
- Which trading platforms does mStock (Mirae Asset) support?
- m.Stock app, web. Instruments: Equity, F&O, currency, mutual funds (direct), IPO.
- How can I withdraw money from mStock (Mirae Asset) in India?
- UPI, net-banking.
- What account types does mStock (Mirae Asset) offer?
- Demat+Trading; flat Rs.10/order plan; one-time Rs.999 lifetime-zero-AMC option.
- Does mStock (Mirae Asset) offer a swap-free (Islamic) account?
- No. mStock (Mirae Asset) publishes no swap-free (Islamic) account for India.