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Mirae Asset, a leading financial services group, has announced that its online retail stock broking platform m.stock has opened one lakh paid retail accounts.
Launched in April, m.Stock offers access to multiple trading and investment products under one roof paired with a zero-brokerage and no-commission model.
m.Stock has grown its customer base by 60 per cent in November over the previous month. It has 73 per cent active customers despite the industry seeing a sustained decline in the active investor count since June.
The uncertainty over the economic growth, lacklustre one-year returns and diminishing retail euphoria was weighing down market participation.
The total turnover on the platform has surpassed ₹40,000-crore mark from over 2.9 crore trades. The app is clocking over 5 lakh daily trades on an average.
m.Stock also provides margin trading facility (eMargin) to its customers at interest rates ranging from 7.99 per cent to 9.49 per cent per annum. So far, the platform has accumulated a net book size (m.Stock funding) of over ₹100 crore in 92 days.
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