dhan vs. mstock

You must understand the Dhan vs. mStock factors to choose between the two trading platforms. This Dhan vs. mStock comparison will explain the various aspects of these two stock brokers, such as charges, trading applications, support, pros, and cons, to provide you with good clarity. 

Dhan vs. mStock: Company Overview

Dhan is a Mumbai-based discount broker which began its journey in 2021. The trading and investing platform is SEBI registered and offers various products for investing and trading, such as Equity, IPO, Mutual Fund, Futures and Options, Commodity, and Currency trading. Dhan is known for its innovative trading tools and excellent customer support. 

dhan vs. mstock

mStock by Mirae Asset was launched in 2022 and is a zero-brokerage platform. The investment and trading platform has different financial offerings comprising Equity, Mutual Funds, IPOs, Commodity, Currency, and Derivatives. The service broker has reliable trading applications and support.

dhan vs. mstock

Dhan vs. mStock: Charges

Dhan has no account opening charges; the platform doesn't change Annual Maintenance Charges. It makes Dhan affordable and has helped it attract more and more people to explore its platform since its inception. 

dhan vs. mstock

Being a discount broker, Dhan keeps its brokerage charges really low and here are the brokerage charges in Dhan:

  • ₹0 brokerage charges on Equity Delivery
  •  ₹20 or 0.03% of trade value, whichever is lower on Equity Intraday brokerage charges:
  •  ₹20 or 0.03% of trade value, whichever is lower on Futures (All segments) 
  • ₹20 per executed order on Options (All segments)

mStock is both a discount broker and a zero brokerage broker. When opening a demat and trading account with mStock, you usually have to pay ₹149 as demat account opening charges. Besides, the platform charges ₹480 per year as an annual maintenance fee. 

You can pay these charges and continue with its discount broking model. However, if you want, you can opt for mStock's zero brokerage model by paying a one-time account opening fee of ₹999 and an additional fee of ₹999 to enjoy a free lifetime AMC.

dhan vs. mstock

mStock has two brokerage plans and here is the mStock's brokerage structure:

Plan ₹999: ₹0 brokerage charges for all segments

Plan ₹149: 

  • Delivery, Mutual Funds, IPO: ₹0 brokerage charges
  • Intraday, F&O, and Currency: ₹20 per executed order

Dhan vs. mStock: Trading platforms

Dhan Web

Dhan Web is Dhan's Website trading terminal that you can access using a browser and your Dhan account's credentials. The Dhan Web trading application is highly usable and user-friendly. PC and laptop can leverage the Dhan Web application. The trading application has advanced charting tools, over 100 technical indicators, multiple watchlists, and multiple order types.

dhan vs. mstock

I have used the app and found it easy to use, and most importantly, order execution is quick. One feature that I like the most about the platform is the Trader's Diary, which allows you to track your past trading activities and also enables you to take trading notes.

Dhan Options Trader Web

Dhan Options Trader Web is another highly usable web-based trading application of Dhan. However, the app is entirely focused on Options trading. The Dhan Options Trader Web trading application has many advanced Options trading features, such as OI Gainers, OI Losers, Strategy Builder, Pre-Built Strategies, and Staddle Chain. The app is ideal for Options traders who are into two-legged options strategies.

dhan vs. mstock

Dhan Tradingview 

Dhan Tradingview is an innovative feature that allows you to integrate your Dhan account with your Tradingview account. If you are wondering why you should use this feature, it's because the external Tradingview charting tool updates faster than the Tradingview charting tool provided by brokers. The setup is simple, and to integrate your Dhan account with Tradingview, you will need to log in to your Tradingview account and look for Dhan in the Trading panel.

dhan vs. mstock

Once you find it, click on it and authenticate using your Dhan trading account credentials. Once the authentication is successful, you can place orders from your Tradingview chart. Besides, you can drag your orders, especially the Stop loss, and take profit orders whenever necessary. Further, managing orders and positions is straightforward, and you can do it all in your trading panel without leaving your chart. 

Dhan App 

Dhan App is Dhan's mobile trading application for traders who want to trade on the go. Dhan App is available as an Android and iOS app. The trading app has a user-friendly interface with an excellent market overview. Besides, the Dhan app lets you choose between Tradingview and ChartIQ charting tools for your technical analysis and enables you to create multiple watchlists.

dhan vs. mstock

Further, you can capitalize on various order types. The app also comes with 2FA authentication for enhanced security. However, the application logs out automatically sometimes. Hence, you must be cautious while using the application.

Dhan Options Trader App

Dhan Options Trader App is Dhan's mobile trading application specially designed for Options traders. The app is available on Android and iOS and has many handy tools and features for Options traders. These features include OI Gainers, OI Losers, Pre-Built Strategies, and Staddle Chain. It's essential to remember that the app is best suited for two-legged strategies.

dhan vs. mstock

If you are into directional one-legged strategies, the Dhan Options Trader app may not be the best option since the app's interface is loaded with too many advanced features. 

mStock Web

mStock Web is mStock's web application for trading and application, ideal for PC and laptop users. You only need a web browser, a reliable internet connection, and an account with mStock to use the web application. The interface is super clean and intuitive.

dhan vs. mstock

Besides, the app offers you an excellent market overview. The app offers users Tradingview charting tools for analysis. Other features include multiple watchlists, customized price alerts, and advanced order types like GTT and Basket orders. Further, there is no delay in order execution. 

mStock App

mStock mobile app is ideal for traders who like to trade from their mobile devices. The app is available for both Android and iOS users. The app works flawlessly and is easy to use. Technical charts load smoothly on the app, and order execution is quick and straightforward. Some salient features are 1-click Order Placement, Option chain Analysis, Advanced Order Options, Price Alerts, Live Market Data, and FII/DII Updates.

dhan vs. mstock

Dhan vs. mStock: Customer Support

Dhan has a dedicated customer support team that does a great job of helping its users through live chat, tickets, and phone support. mStock offers technical support via phone and email. The fact that Dhan provides live chat support can make a huge difference for many traders, giving it an edge over mStock.

Dhan vs. mStock: Pros and Cons

Dhan Pros and Cons

ProsCons
No demat account opening charge
Dhan mobile app logs out suddenly
No annual maintenance charges
No brokerage charges on Equity Delivery
Excellent web application for trading
Dedicated web and mobile applications for Options trading
Advanced charting tools: Tradingview and ChartIQ
Integration with external Tradingview account
Multiple order types
Dedicated customer support team

mStock Pros and Cons

ProsCons
Nominal account opening charges
No live chat support
Zero brokerage plan 
Option for Lifetime AMC free 
No brokerage fee on Delivery
Excellent trading apps for web and mobile
Tradingview charting tools
Advanced order types like GTT and Bracket order
Reliable customer support

You may also like to read Dhan vs. Paytm Money

Conclusion

So, those were a few important Dhan vs. mStock points that you must remember while choosing between the two. As you have read in this post, Dhan has a lot of advanced features. However, a lot depends on your trading requirements. Hence, you need to consider your trading requirements and then see which offers the best features for your trading needs. 

Dhan vs. mStock Frequently Asked Questions.

What is a stock broker?

A stock broker is a professional or a firm that facilitates buying and selling of stocks (shares) in financial markets. They act as intermediaries between investors and the stock exchange, executing trades on behalf of their clients.

What are account opening charges?

Account opening charges refer to the fees associated with the process of creating a new investment or trading account with a financial service provider like mStock. These charges can vary and might cover account setup and administration.

How does the share market work?

The share market, also known as the stock market, is where shares of publicly listed companies are bought and sold. Investors can trade these shares, and prices are determined by supply and demand dynamics.

What is a depository participant?

A depository participant is an entity that acts as an intermediary between an investor and the central depository. They facilitate the process of holding and transferring securities in electronic form, making it easier to trade and manage investments.

What are TradingView charts?

TradingView charts are interactive online charts used for technical analysis of various financial instruments, including stocks, currencies, and commodities. They provide insights into price movements and patterns to help traders make informed decisions.

What are demat account opening charges?

Demat account opening charges refer to the fees associated with creating a dematerialized (demat) account, which is used to hold securities in electronic form instead of physical certificates. These charges can vary based on the service provider.

What is a margin trading facility?

A margin trading facility allows traders to borrow funds from the brokerage to leverage their trading positions. It enables traders to invest larger amounts than they have in their account, potentially magnifying both gains and losses.

What does “zero brokerage” mean?

“Zero brokerage” typically refers to a brokerage model where the broker charges no commission or fees for executing trades. However, there might be other charges associated with trading, so it's important to understand the complete fee structure.

How does online trading work?

Online trading involves using an online platform provided by a broker to buy and sell financial instruments like stocks, commodities, and currencies. Traders can place orders, monitor their portfolio, and execute trades through the internet.

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