How to Open an Account in mStock: A Step-by-Step Guide

Opening a trading account with mStock is a breeze, designed to make the process of entering the stock market with zero brokerage fees as straightforward as possible. If you’re ready to embark on your trading journey with mStock, this guide will lead you through the entire account opening process, from registration to activation. By the end, you’ll have a fully functional trading account, ready to go.

Why Choose mStock?

Before diving into the step-by-step instructions, it’s essential to understand why mStock has become a popular choice among traders and investors. Some of the key benefits include:

• Zero Brokerage: mStock offers zero brokerage across multiple segments, meaning you don’t have to worry about paying commissions on trades.
• Low Account Opening Fees: The platform has minimal upfront costs to get started, making it accessible for traders of all levels.
• User-Friendly Interface: mStock’s platform is designed to be intuitive and easy to use for both new and experienced traders.
• Multiple Asset Classes: You can trade in stocks, derivatives, commodities, and more.
• Robust Security: mStock takes security seriously, providing a safe environment for online trading.

Zero brokerage charges on mStock | Join Now

Step 1: Visit the mStock Website

The first step to opening your account is to visit their official website. You can do this by searching “mStock” on your preferred search engine or directly visiting their website, which is www.mstock.com (ensure that you verify this link through your browser).

Once on the website, you’ll notice a prominent button labeled “Open Account” or “Start Now.” Click on this to begin the registration process.

Step 2: Choose the Type of Account

offers different types of accounts depending on your trading needs. These include:

• Demat & Trading Account: This account is for those who want to invest in stocks and keep their shares in electronic form.
• Commodities Account: If you’re interested in trading commodities.
• Futures & Options (F&O): For advanced traders who want to engage in futures and options.

Most users opt for a Demat & Trading Account as this covers general stock trading needs. Select the account type that best suits your requirements and proceed.

mstock App

Step 3: Fill in Your Details

Once you’ve selected the account type, the next step is to fill out your personal details. App will ask for the following information:

• Full Name: As per your PAN card or any government-issued ID.
• Email Address: This will be your primary mode of communication with mStock.
• Mobile Number: A valid mobile number for OTP (one-time password) verification.
• Date of Birth: To open an account, you must be over 18 years old.

You will receive an OTP on your registered mobile number. Enter the OTP to verify your phone number and proceed to the next step.

Step 4: Enter PAN and Aadhar Details

mStock requires your PAN and Aadhar details to verify your identity and comply with regulatory requirements.

• PAN Card: Ensure that your PAN card is active and linked to your Aadhar card.
• Aadhar Card: You’ll need your Aadhar number for identity verification. An OTP will be sent to the mobile number linked to your Aadhar.

These details are mandatory per SEBI (Securities and Exchange Board of India) guidelines. After entering these details, the system will automatically fetch some of your basic information, including your address, from the Aadhar database.

Step 5: Complete the KYC (Know Your Customer) Process

You’ll need to complete the KYC process to open your account fully. mStock makes this simple by offering two options:

• Online eKYC: This is the fastest way to complete KYC. You’ll be asked to upload scanned copies of the following documents:
  • PAN card
  • Aadhar card
  • Bank statement (last 3 months) or a cancelled cheque for bank verification
  • Recent passport-sized photograph
• Once these documents are uploaded, they will be verified quickly. This is an entirely paperless process.
• Offline KYC: If you need more time to get comfortable with the online process, you can complete the KYC by visiting a nearby mStock branch or any of their partner centers. This might take a bit longer, but the result is the same.

Step 6: Link Your Bank Account

To fund your trading activities, you must link your bank account to your mStock account. The platform will ask for the following details:

• Account Number: Ensure that the bank account you link is in your name and matches the details provided during the KYC process.
• IFSC Code: This is needed to facilitate bank transfers.

Once you provide your bank details, mStock will verify the information. This process is typically swift and seamless.

Step 7: E-Sign the Documents

To complete the application, you will need to e-sign the documents. mStock offers a digital signature option, so you don’t have to sign papers physically. The e-signing process is integrated with Aadhar e-Sign, where you will authenticate the signature using an OTP sent to your Aadhar-linked mobile number.

After e-signing, your application will be submitted for final verification.

Step 8: Fund Your mStock Account

Once your account is approved, you will receive an email and SMS confirmation. After that, the next step is to add funds to your trading account. mStock provides various methods for depositing money, including:

• Net Banking: You can transfer money directly from your linked bank account.
• UPI: If you prefer mobile payments, you can use UPI to fund your account instantly.
• NEFT/RTGS: These are traditional bank transfer methods that usually take a few hours.

Zero brokerage charges on mStock | Join Now

Step 9: Start Trading

Congratulations! Once you’ve funded your account, you can start trading on mStock. You can now buy and sell stocks, trade in derivatives, or invest in commodities as you prefer.

mStock’s platform is user-friendly, offering tools such as live market data, stock screeners, and portfolio management features to help you make informed decisions.

Tips for New Traders on mStock

• Start Small: If you’re new to trading, it’s wise to begin with a smaller investment to get familiar with how the market works.
• Learn the Platform: Explore mStock’s features and tools before making significant trades.
• Keep Up with Market News: Stay informed about market trends and news, as these can impact stock prices.

Conclusion

Opening an account with mStock is a smooth, hassle-free process. From zero brokerage to user-friendly features, it offers an excellent platform for both beginner and seasoned traders. Following the steps outlined in this guide, you can easily set up your mStock account and begin your journey in the stock market.

Whether looking to invest in stocks, commodities, or other asset classes, mStock provides the tools and resources you need to trade confidently and efficiently. Happy trading!

Zero brokerage charges on mStock | Join Now