Muthoot Securities Review, Brokerage Charges, Demat Account & more

Muthoot Securities, also known as MSTL is a subsidiary of the Muthoot Group that has been se to serve the already diverse clientele of the company along the equity trading.

In this article, we will take a close look on Muthoot Securities’ products and services, charges related to brokerage and other charges, permanent or occasional offers, and the efficiency of the trading platforms they offer.

Muthoot Securities Customer Ratings & Review

Experience 3.4/5
Products & Services 3.1/5
Brokerage Charges & Fees 3.3/5
Stock Research & Advisory 3.0/5
Trading Platforms 3.2/5
Overall Ratings 3.2/5
Star Ratings ★★★☆☆
Total Client Reviews 176


About Muthoot Securities

Company Type Private
Broker Type Full Service Broker
Headquarters Ernakulum, Kerala
Founder G R  Ragesh
Established Year 2008

Muthoot Securities As you can see above, the company was funded by Mr. G R Ragesh in the year 2008. They are a full service broker with their headquarters in Ernakulum, Kerala.

The company legitimately functions as a trading-cum-clearing member for various segments of the NSE as well as BSE.

The firm typically believes in building long lasting relationships with their traders by serving them with proper market insights deciphered by a dedicated research team.

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Muthoot Securities Brokerage Charges

Equity Delivery Trading 0.44%
Equity Intraday Trading 0.04%
Commodity Options Trading 0.04%
Equity Futures Trading 0.04%
Equity Options Trading  Rs.44 per Lot
Currency Futures Trading 0.04%
Currency Options Trading Rs.34 per Lot
Minimum Brokerage Percentage of Transaction
Demat AMC Charges Rs.300 per Annum
Trading AMC Charges Free
Margin Money Minimum Rs.15,000
Brokerage Calculator Muthoot Securities Brokerage Calculator

As you can see in the table mentioned above, Muthoot Securities’ charges are levied of 0.44% on equity delivery trading, 0.04% on equity intraday trading, equity options trading, equity futures trading and currency futures trading.

They also charge Rs. 44 per lot and Rs. 34 per lot for equity options trading and currency options trading respectively.

Furthermore, the  traders are also required to maintain a minimum margin money of Rs. 15,000 and pay Rs. 300 as the AMC for Demat Account.

Muthoot Securities Other Charges

Transaction Charges 0.00275%
STT 0.0126% of Total Turnover
SEBI Turnover Charges 0.0002% of Total Turnover
Stamp Duty Depends on State (very minimal)
GST 18% of (Brokerage + Transaction Charges)

The chart as mentioned above describes the charges that the firm imposes upon the traders other than the brokerage, which includes a charge of 0.00275% as transaction charge.

0.0126% of the total turnover as Securities Transaction Tax or STT, 0.0002% of the total turnover as SEBI Turnover Charge, 18% GST on the sum of the brokerage and transaction charges and a variable stamp duty in accordance to the states.

Find Brokerage Charges of other Full Service Brokers – 

Kotak Securities ICICI Direct Sharekhan India Infoline (IIFL)
Ventura Securities Marwadi Group Aditya Birla Money Motilal Oswal

Muthoot Securities Demat Account Opening Fees

Depository Source CDSL & NSDL
Account Opening Charges Rs.250
Demat AMC Charges Rs.300 per Annum
Trading AMC Charges Free
Margin Money Minimum Rs.15,000
Offline to Online Yes

It is possible for anyone to register themselves as a trader with Muthoot securities by opening a Demat or Trading account by depositing the applicable fees through Central Depository Services Limited (CDSL) or National Securities Depository Limited (NSDL).

The firm charges Rs. 250 at the time of opening the account, with an annual maintenance charge of Rs. 300 per annum for Demat Account.

Furthermore, the firm also requires the traders to maintain a margin money of Rs. 15,000 at all times. Nonetheless, they do not charge any payment for the maintenance of Trading Account.

Muthoot Securities Offers

Free Demat Account No
Free Trading Account Yes
Discount on Brokerage Yes
Trading Happy Hours No
Flexible Brokerage Plans Yes
1 Month Brokerage Free Yes
Holiday Offers Yes
Referral Offers No
Zero Brokerage for Loss Making Trades No

As can be obviously concluded from the aforementioned table, Muthoot Securities offers free trading accounts, discounts on brokerage, flexible brokerage plans, 1 month of free brokerage and holiday offers.

However, there is provision for free Demat accounts, trading happy hours, referral offers or zero brokerage on loss making trades.

How to Open a Demat Account with Muthoot Securities?

Opening an account with Muthoot Securities is literally a child’s play. This is all you need to do:-

  • Click on the green button below that states ‘Open Demat Account’.
  • Thoroughly read the form that pops up.
  • Fill up the form with accurate details.
  • Upload the required documents for completing the KYC procedure.
  • You will require Aadhar Card, PAN Card, Age Proof, Identity Proof, Address Proof and one photograph for this.
  • Once you complete all these steps, a concerned personnel from Muthoot Securities will contact you for further verification.
  • You will authorized to operate your Demat account in a few hours after the completion of verification.

Why Open Muthoot Securities Trading Account?

Apart from the fact that having a Demat and trading account is absolutely mandatory for anyone to be able to trade independently, the reasons you should open up a Demat and Trading Account with ISE are:-

  1. They are a part of the well-known Muthoot Group that has been praised for providing superior services for years.
  2. They have a dedicated research team that proactively charts and analyses the market activities in real time.

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Muthoot Securities Products & Services:

Here are the list of Products & Services provided by Muthoot Securities:

Products Offered by Muthoot Securities:

Equity Trading Yes
Commodity Trading Yes
Currency Trading Yes
Options Yes
Futures Yes
Mutual Funds No
Forex No
Banking No
Insurance No

Muthoot Securities’ products are primarily composed of Equity Trading, Commodity Trading, Currency Trading, Options Trading and Futures Trading.

However, they do not offer extend any products related to Mutual Funds, Systematic Investment Plans, Forex Trading, Banking or Insurances.

Muthoot Securities Service Offerings:

Demat Services Yes
Trading Services Yes
3 in 1 Acount No
Intraday Services Yes
IPO Services Yes
Stock Recommendations Yes
Robo Advisory No
Trading Institution Yes
Trading Exposure Upto 6X

The above mentioned table clearly states that Muthoot Securities’ services comprise of Demat Services, Trading Services, Intraday Services, IPO Services, Stock Recommendations, PMS and Trading Institution with upto 6X Trading Exposure.

However, they do not provide any services related to 3 in 1 Account or Robo Advisory.

Check Products & Services offered by other Stock Brokers –

Angel Broking HDFC Securities Indiabulls Ventures  Just Trade
IDBI Direct  GCL Securities Arihant Capital Religare Securities

Muthoot Securities Research, Advisory and Stock Tips

Fundamental Reports Yes
Research Reports Yes
Company Reports Yes
Annual Reports Yes
Company Stock Review Yes
Free Stock Tips Yes
IPO Reports Yes
Top Picks Yes
Daily Market Review Yes
Monthly Reports Yes
Weekly Reports Yes
Offline Advisory Yes
Relationship Manager Yes

As you can easily conclude from the table mentioned above, Muthoot Securities exhibites a very impressive roster in terms of trade reporting.

They provide Fundamental Reports, Research Reports, Company Reports, Annual Reports, Company Stock Overview, Free Stock Tips, IPO Reports, Offline Advisory, a Relationship Manager, Top Picks, Daily Market Review, Monthly as well as Weekly Reports.

Muthoot Securities Exposure or Leverage

Equity Delivery Upto 2X
Equity Intraday Upto 6X
Equity Futures Upto 2X
Equity Options Upto 5X
Currency Futures Upto 3X
Currency Options Upto 6X
Commodities Upto 3X
Margin Calculator Muthoot Securities Margin Calculator

Now, if you take a look into the aforementioned chart, you will find that Muthoot Securities provides upto two times exposure on Equity Delivery Trading and Equity Futures Trading.

You get upto six times exposure on Equity Intraday Trading and Currency Options Trading, upto five times exposure on Equity Options Trading and upto three times exposure on Currency Futures Trading and Commodities Trading.

Muthoot Securities Trading Platforms

Here are the thorough details on various trading platforms offered by Muthoot Securities to its consumers. All the platforms have been established in-house and always get progressed on an unremitting basis.

Desktop Platform – Windows Yes
Desktop Platform – Mac Yes
Desktop Browser Platform No
Mobile Site Platform Yes
Android App Platform Yes
iOS App Platform Yes
Windows App Platform No
Other Mobile OS Platform No
Real time Updates Yes
Portfolio Details Yes
Online MF Buy No
News Flash Yes
Research Reports Yes
Easy Installation Yes
Global Indices Yes
Stock Tips Yes
Personalized Advisory No
Interactive Charts Yes
Live Markets Yes
SMS Alerts Yes
Email Alerts Yes
Multi Account Management No

Muthoot Securities basically help out their traders for remote trading purposes through:-

Muthoot Securities Trading Terminal:

Since Muthoot does not have dedicated trading software, therefore, they have brought into use the NSE based terminal trading software NEST that has been developed on a Dot Net Framework and made compatible for Windows 7, 8 and 10 respectively.

It makes sense in using NEST, as it is known to be one of the most stable trading platforms, corresponding to the Indian stock broking industry. It comes with the following features:-

  • Real time data analysis.
  • Export the data to Excel for further analysis.
  • Execute multiple technical and fundamental analyses with the help of the integrated charting functionality.
  • Take a sneak peek on to the details of the placed orders for both buying and selling purposes, through ‘Orderbook’ functionality.
  • Call upon the ‘Net Positions’ window to get a detailed snapshot of any user’s market position across various indices as well as exchanges.
  • Look on to the top ten bids along with the quantity as well as the price of the stocks for each bid with the help of the ‘Combined Market Feature’.

Muthoot Securities Mobile Trading App:

Muthoot Securities have developed their very own android based trading platform that goes by the name of Marcopolo Mobitrade.

The app is openly available for download and installation on Google Play Store. It includes almost all the basic features of a desktop based trading platforms.

However, the app still needs to be developed for allowance of some advanced features like the ability to show holding returns percentage.

Muthoot Securities Customer Care

Dedicated Dealer Yes
Offline Trading Yes
Online Trading Yes
24*7 Support No
Email Support Yes
Chat Support No
Toll Free Number No
Branches 920

Muthoot Securities, has a spread its humongous network of branches across nine hundred and twenty different locations throughout the nation in merely eleven years of existence.

And, the primary credit for their superb swift success should be granted to none other than their respective customer support team that includes a dedicated dealer, offline trading, online trading and email support.

Muthoot Securities Complaints and Feedback

Find the list of complaint against Muthoot Securities:

Lodged in BSE 0
Resolved in BSE 0
Lodged in NSE 1
Resolved in NSE 1
Percentage of No. of Complaints Received Against Number of Active Clients 0

Muthoot has been able to maintain a brilliant track record in terms of customer servicing in the past few years.

In fact, there were not even a single complaint registered against them in the BSE last year and only one complaint was logged in the NSE.

Muthoot Securities Disadvantages:

Below mentioned is the list of cons of Muthoot Securities:

Cons Of Muthoot Securities

Discuss some of the worries if you make use of this full-service trader for your stock market trading:

Muthoot Securities is a really commendable firm with some extraordinary results in the past few years. However, there still are a few things they can improve up on:-

  1. They do not provide their traders with any sort of desktop browser based platforms.
  2. Their mobile app based platform requires some serious upgrades.

Muthoot Securities Conclusion

On the whole, Muthoot Securities is a trust worthy name and anyone from a newbie to a maestro in the field of equity and derivative trading in India can trade under them.

However, their mobile app cannot be entirely trusted.

Check detailed review of similar full service brokers:

Mangal Keshav  MasterTrust Networth Direct Reliance Securities
Axis Direct  SMC Global GEPL Capital  SBI Cap Securities

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