m.Stock by Mirae Asset facilitates over 4 lakh trades within days of launch3 min read
Kolkata: Mirae Asset, one of the global leaders in the financial services industry, launched ‘m.Stock’ last month, a state-of-the-art platform for investment in capital markets across Equity, Futures & Options, Currencies and more.
The company on Tuesday announced that m.Stock has successfully facilitated over 4 lakh trades within days of its launch, thereby doing a turnover of 1,000 crores.
What’s interesting, is that majority of the traction has come from individuals who fall within the age bracket of 20 – 40 years, who typically look for a longer investment horizon, and represent a sizeable portion of the platform’s target audience.
Backed by an exceptionally intuitive tech infrastructure, m.Stock combines seamless access to all trading and investment products under one roof, paired with a ‘Zero Brokerage and No Commission’ model, which makes it one of the best-in-class propositions for both seasoned traders, as well as novice investors.
Arun Chaudhry, Director & Chief Business Officer, Mirae Asset Capital Markets (India) Pvt. Ltd. said, “For us at Mirae Asset, it has been our constant endeavour to bring forth propositions that cater to the requirements of both seasoned traders, and less-experienced investors. The launch of m.Stock is a testament to the same thought.”
Arun Chaudhry said, “We are delighted with the response that we have garnered from our customers. It’s even more heartening to see, that majority of the traction has come from individuals, who perhaps are at the brink of beginning their professional careers and have chosen us as a partner to kick-start their investment journeys. This will definitely encourage us to strengthen the m.Stock story even further, as we look forward to introducing more state-of-the-art services over the next few months.”
Jisang Yoo, Chief Executive Officer, Mirae Asset Capital Markets (India) Pvt. Ltd. said, “In keeping with Mirae Asset Group’s legacy of being partners for progress, we strived to bring forth a proposition that would transform the way seasoned traders would trade, and at the same time, offer room for young, new age retail investors to become a part of a seamless, and a never-seen-before technological journey towards achieving their financial goals.”
Jisang Yoo said, “We are happy to see that our efforts have borne fruit, as m.Stock has been welcomed by customers with open arms, and the rise in investment numbers is evidence to its acceptance. With some new features that are set to be added over the next couple of months, m.Stock aims to offer clients with a differentiated investing experience.”
m.Stock is a pioneer of many firsts in the investment arena but its flat account opening fee of INR 999 with zero brokerage, no platform fees, and a one-time account opening structure with a lifetime pledge and building a completely new division is perhaps its most remarkable feat.
With investment options that include stocks, F&Os, currencies, IPOs, and ETFs, m.Stock provides multi-level security across the user journey. The m.Stock app is available for download on both Android and iOS platforms.