Mirae Asset Ltd reported over 1 million trades in a single day on m.Stock, its online retail stock-broking platform, the global financial services group said on Monday. Launched in April last year, m.Stock said it has registered significant growth within a year of its operations.
With more than 6 million downloads in less than 10 months, it has an active client ratio of 73 per cent, m.Stock stated. It registered a turnover of Rs 78,000 crore on its platform.
“The platform also reported a book size of over Rs 155 crore on its Margin Trading Facility (eMargin). Their eMargin facility which was launched just 7 months back, at one of the lowest interest rates in the industry, starting from 7.99 per cent per annum, enables users to get access to instant funding (up to 80 per cent) and meet their margin requirements in delivery trades,” the company said.
“The trading platform of m.Stock paired with a ‘Zero Brokerage and no-commission’ model forever across all products, has made it a lucrative proposition for both seasoned traders as well as investors,” it added.
Arun Chaudhry, Director and Chief Business Officer, Mirae Asset Capital Markets (India) said, “We at m.Stock, are absolutely thrilled to report a record-breaking growth by booking one million trades in a single day, within such a short time period. It is indeed a huge milestone and a dream come true for the company to reflect such rapid growth. We believe it’s a testament to the strength of the platform and our unique business model.”
m.Stock by Mirae Asset said it offers zero brokerage across products like intraday, delivery, F&O, and currency for life at a one-time fee of Rs 999.
The app is available for download on both Android and iOS platforms.
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