I was one the guys who thought of being early bird and checking out MStock 
But to be honest, they just launched with a very primitive structure.
The only reason to try it was bcos of the Big name.
1. Their support channels are still growing. Difficult to connect calls, takes long for email reply( like next day ).
Cust exec also not very updated.
No forum, even Traderji can invite here. Finvasia does good job replying here.
2. UI issues are very many as i read from Twitter and SM. Many have highlighted various issues.
Charts were not saving. They are using basic Trading view library.
They currently have Web-browser and Mobile app. ( I dont really use any mobile apps kite, fyers etc )
No desktop.
3. No Mutual Funds yet. You cant pledge also. Finvasia haircut is 25% in MF i heard, which is their big con.
mstock say in pipeline.
Infact overall pledging mechanism of mstock seems to be unclear.
4. They dont have Easiest( this is a big issue ), everything need to be done via Physical DIS slip.
That too need to courier to Mumbai office.
So im hesitant to unpledge in current brokers and move there.
Might be big issue during buyback etc like Fyers had. Easiest is a must for serious portf holder and off-market transactions.
5. No GTT etc I didnt even bother to compile feature list. Obviously no APIs.
6. I don't see anything like BackOffice or Support Portal. Reporting like PnL etc not there.
Only one tab with Ledger, contract note and tradebook
Charting etc is very basic but i use my own s/w, only for order punching, it should be good as they'd have very less load.
Unable to open index charts.
Some good stuff:
Effort in option chain kind of tool, Global indices and some widgets like Gainers/Losers etc and News feed, IPO.
mstock total margin 1 Lot NF overnight = 101,125/-
Z same: 98,727/-
I dont have account at Dhan, but those guys are highly active on their forum and taking constant feedback and implementing features.
Verdict for Mstock:
Can't write them off, but they launched too early. Might take them even a year for a Trader to be comfortable there.
Maybe paradise for option buyers though and equity investors who are just starting out.
So if you have spare 2400/- & can spend it for 0 brokerage + Demat amc free offer.
I wish they would have researched competition thoroughly,
But to be honest, they just launched with a very primitive structure.
The only reason to try it was bcos of the Big name.
1. Their support channels are still growing. Difficult to connect calls, takes long for email reply( like next day ).
Cust exec also not very updated.
No forum, even Traderji can invite here. Finvasia does good job replying here.
2. UI issues are very many as i read from Twitter and SM. Many have highlighted various issues.
Charts were not saving. They are using basic Trading view library.
They currently have Web-browser and Mobile app. ( I dont really use any mobile apps kite, fyers etc )
No desktop.
3. No Mutual Funds yet. You cant pledge also. Finvasia haircut is 25% in MF i heard, which is their big con.
mstock say in pipeline.
Infact overall pledging mechanism of mstock seems to be unclear.
4. They dont have Easiest( this is a big issue ), everything need to be done via Physical DIS slip.
That too need to courier to Mumbai office.
So im hesitant to unpledge in current brokers and move there.
Might be big issue during buyback etc like Fyers had. Easiest is a must for serious portf holder and off-market transactions.
5. No GTT etc I didnt even bother to compile feature list. Obviously no APIs.
6. I don't see anything like BackOffice or Support Portal. Reporting like PnL etc not there.
Only one tab with Ledger, contract note and tradebook
Charting etc is very basic but i use my own s/w, only for order punching, it should be good as they'd have very less load.
Unable to open index charts.
Some good stuff:
Effort in option chain kind of tool, Global indices and some widgets like Gainers/Losers etc and News feed, IPO.
mstock total margin 1 Lot NF overnight = 101,125/-
Z same: 98,727/-
I dont have account at Dhan, but those guys are highly active on their forum and taking constant feedback and implementing features.
Verdict for Mstock:
Can't write them off, but they launched too early. Might take them even a year for a Trader to be comfortable there.
Maybe paradise for option buyers though and equity investors who are just starting out.
So if you have spare 2400/- & can spend it for 0 brokerage + Demat amc free offer.
I wish they would have researched competition thoroughly,
