MUMBAI - Mirae Asset Capital Market's retail stock broking platform, m.Stock, has reached a significant milestone by acquiring over 1 million customers and facilitating more than 490 million trades, with an average of 2.1 million daily trades. The platform, known for its 'zero brokerage for life' proposition, has achieved this growth since its launch in 2022 and has been rated as the 16th top stockbroker by the National Stock Exchange (NSE) as of March 31, 2023.
The platform's success is attributed to the adoption of advanced technology which has led to improved compliance, operations, and user experience. m.Stock's Margin Trading Facility (MTF) book size has surpassed Rs. 1,350 crore.
Jisang Yoo, CEO of m.Stock by Mirae Asset, expressed confidence in the platform's continued success in the Indian financial market and gratitude towards the customers for their trust. Arun Chaudhry, Director and CBO, highlighted the platform's commitment to providing a secure and stable trading environment. He also announced the introduction of the Margin Pledge facility at a competitive rate of 11.99% per annum with features like an unlimited holding period.
Additionally, m.Stock has launched the Mirae Asset Partners Program, which offers 100% brokerage revenue sharing and nine distinct revenue streams to business partners. The platform is also set to release an upgraded version with new features to enhance customer experience and simplify trading.
This information is based on a press release statement, which outlines m.Stock's achievements and future initiatives as it aims to become a full-fledged financial service provider in India.
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