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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 offers


Muthoot Securities Customer Ratings & Review

Experience3.4/5
Products & Services3.1/5
Brokerage Charges & Fees3.3/5
Stock Research & Advisory3.0/5
Trading Platforms3.2/5
Overall Ratings3.2/5
Star Ratings★★★☆☆
Total Client Reviews176

 


About Muthoot Securities

Company TypePrivate
Broker TypeFull Service Broker
HeadquartersErnakulum, Kerala
FounderG R  Ragesh
Established Year2008

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 Trading0.44%
Equity Intraday Trading0.04%
Commodity Options Trading0.04%
Equity Futures Trading0.04%
Equity Options Trading Rs.44 per Lot
Currency Futures Trading0.04%
Currency Options TradingRs.34 per Lot
Minimum BrokeragePercentage of Transaction
Demat AMC ChargesRs.300 per Annum
Trading AMC ChargesFree
Margin MoneyMinimum Rs.15,000
Brokerage CalculatorMuthoot 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.


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Muthoot Securities Other Charges

Transaction Charges0.00275%
STT0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)
GST18% 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.


 

Muthoot Securities Demat Account Opening Fees

Depository SourceCDSL & NSDL
Account Opening ChargesRs.250
Demat AMC ChargesRs.300 per Annum
Trading AMC ChargesFree
Margin MoneyMinimum Rs.15,000
Offline to OnlineYes

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 AccountNo
Free Trading AccountYes
Discount on BrokerageYes
Trading Happy HoursNo
Flexible Brokerage PlansYes
1 Month Brokerage FreeYes
Holiday OffersYes
Referral OffersNo
Zero Brokerage for Loss Making TradesNo

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.


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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 TradingYes
Commodity TradingYes
Currency TradingYes
OptionsYes
FuturesYes
Mutual FundsNo
ForexNo
BankingNo
SIPNo
InsuranceNo

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 ServicesYes
Trading ServicesYes
3 in 1 AcountNo
Intraday ServicesYes
IPO ServicesYes
Stock RecommendationsYes
Robo AdvisoryNo
PMSYes
Trading InstitutionYes
Trading ExposureUpto 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.


 

Muthoot Securities Research, Advisory and Stock Tips

Fundamental ReportsYes
Research ReportsYes
Company ReportsYes
Annual ReportsYes
Company Stock ReviewYes
Free Stock TipsYes
IPO ReportsYes
Top PicksYes
Daily Market ReviewYes
Monthly ReportsYes
Weekly ReportsYes
Offline AdvisoryYes
Relationship ManagerYes

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 DeliveryUpto 2X
Equity IntradayUpto 6X
Equity FuturesUpto 2X
Equity OptionsUpto 5X
Currency FuturesUpto 3X
Currency OptionsUpto 6X
CommoditiesUpto 3X
Margin CalculatorMuthoot 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.


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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 – WindowsYes
Desktop Platform – MacYes
Desktop Browser PlatformNo
Mobile Site PlatformYes
Android App PlatformYes
iOS App PlatformYes
Windows App PlatformNo
Other Mobile OS PlatformNo
Real time UpdatesYes
Portfolio DetailsYes
Online MF BuyNo
News FlashYes
Research ReportsYes
Easy InstallationYes
Global IndicesYes
Stock TipsYes
Personalized AdvisoryNo
Interactive ChartsYes
Live MarketsYes
SMS AlertsYes
Email AlertsYes
Multi Account ManagementNo

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 DealerYes
Offline TradingYes
Online TradingYes
24*7 SupportNo
Email SupportYes
Chat SupportNo
Toll Free NumberNo
Branches920

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 BSE0
Resolved in BSE0
Lodged in NSE1
Resolved in NSE1
Percentage of No. of Complaints Received Against Number of Active Clients0

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.


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