Top Stock Advisory
Frr Shares vs. Mdirect
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Frr Shares and Mdirect. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Frr Shares and Mdirect.
Overview
Frr Shares is public company and Mdirect is private company. Frr Shares operates as a full service Broker, while Mdirect functions as a discount broker. Parag Mehta co-founded Frr Shares in 2010. And Mdirect was founded in the year 1997 by Sushil Agarwal. Frr Shares's headquarters are in Mumbai, Karnataka and Mdirect's headquarters are in Mumbai, Maharashtra.
Frr Shares operates as a full service Broker, while Mdirect functions as a discount broker. Frr Shares is registered in NA, while Mdirect is registered in NA. The total branches of Frr Shares are Nil and the Mdirect branches are Nil.
| Overview | Frr Shares | Mdirect |
|---|---|---|
| Broker Type | Full Service Broker | Discount Broker |
| Type of company | Public | Private |
| Headquarter | Mumbai, Karnataka | Mumbai, Maharashtra |
| Founders | Parag Mehta | Sushil Agarwal |
| Foundation Year | 2010 | 1997 |
| Supported Exchanges | NA | NA |
| Total branches | Nil | Nil |
Frr Shares and Mdirect Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Frr Shares charging Free and Mdirect charging Rs.500.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Frr Shares Demat account is Rs.400 per Annum and for the Mdirect Demat account is Free or Rs.400 per Annum. The Trading AMC for Frr Shares and Mdirect is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Frr Shares and Mdirect is CDSL.
| Account Opening and Demat Charges | Frr Shares | Mdirect |
|---|---|---|
| Trading Account Opening Charges | Free | Rs.500 |
| Demat AMC (Annual Maintenance Charges) | Rs.400 per Annum | Free or Rs.400 per Annum |
| Trading AMC (Annual Maintenance Charges) | Rs.250 per Annum | Free |
| Margin Money | Zero Margin | Zero Margin |
| Offline to Online Charges | Yes | Yes |
| Depository | CDSL & NSDL | CDSL & NSDL |
Frr Shares and Mdirect Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Frr Shares is 0.25%, while Mdirect charges you Rs.18 per Order.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Frr Shares is 0.03% and for Mdirect also, it is Rs.18 per Order or 0.01% whichever is low.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Frr Shares charge 0.03% and Mdirect charge Rs.18 per Order for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Frr Shares charges Rs.25 per Lot, and Mdirect charges Rs.18 per Order.
| Equity Brokerage Charges | Frr Shares | Mdirect |
|---|---|---|
| Equity Delivery Brokerage | 0.25% | Rs.18 per Order |
| Equity Intraday Brokerage | 0.03% | Rs.18 per Order or 0.01% whichever is low |
| Equity Futures Brokerage | 0.03% | Rs.18 per Order |
| Equity Options Brokerage | Rs.25 per Lot | Rs.18 per Order |
Frr Shares and Mdirect Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Frr Shares is 0.03% and for Mdirect is Rs.18 per Order.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Frr Shares charges Rs.15 per Lot for currency options, whereas Frr Shares charges Rs.18 per Order.
| Currency Brokerage Charges | Frr Shares | Mdirect |
|---|---|---|
| Currency Futures Brokerage | 0.03% | Rs.18 per Order |
| Currency Options Brokerage | Rs.15 per Lot | Rs.18 per Order |
Frr Shares and Mdirect Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Frr Shares charges 0.03% for commodity trading, while Mdirect charges Rs.18 per Order.
| Commodity Brokerage Charges | Frr Shares | Mdirect |
|---|---|---|
| Commodity Options Brokerage | 0.03% | Rs.18 per Order |
Frr Shares and Mdirect Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Frr Shares levies a minimum brokerage fee of Percentage of Transaction, while Mdirect charges Rs.18 brokerage fee.
Transaction Brokerage Charges: Frr Shares levies a transaction brokerage charge of 0.00275%, while Mdirect charges 0.00301% of Total Turnover.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Frr Shares is 0.0002% of Total Turnover and for Frr Shares is 0.0007% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Frr Shares are 0.0126% of Total Turnover, while for Mdirect, they are 0.0112% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Frr Shares charges NA and Mdirect charges NA.
| Other Brokerage Charges | Frr Shares | Mdirect |
|---|---|---|
| Minimum Brokerage Charges | Percentage of Transaction | Rs.18 | Transaction Brokerage Charges | 0.00275% | 0.00301% of Total Turnover | SEBI Turnover Charges | 0.0002% of Total Turnover | 0.0007% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.0112% of Total Turnover | Call and Trade Charges | NA | NA |
Frr Shares and Mdirect Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Frr Shares is up to Upto 2x and by Mdirect it is up to Upto 2x.
Equity Intraday: Leverage for equity intraday by Frr Shares is up to Upto 10x and by Mdirect it is up to Upto 2x.
Equity Futures: Leverage for Equity Futures by Frr Shares is up to Upto 2x and by Mdirect it is up to Upto 2x.
Equity Options: Leverage for Equity Options by Frr Shares is up to Upto 5x and by Mdirect also, it is up to Upto 2x.
| Equity Leverage | Frr Shares | Mdirect |
|---|---|---|
| Equity Delivery | Upto 2x | Upto 2x | Equity Intraday | Upto 10x | Upto 2x | Equity Futures | Upto 2x | Upto 2x | Equity Options | Upto 5x | Upto 2x |
Frr Shares and Mdirect Currency Leverage
The currency futures leverage provided by Frr Shares is up to Upto 2x, while for Mdirect it is up to Upto 2x.
The currency options leverage provided by Frr Shares is up to Upto 3x, while for Mdirect it is up to Upto 2x.
| Currency Leverage | Frr Shares | Mdirect |
|---|---|---|
| Currency Futures | Upto 2x | Upto 2x | Currency Options | Upto 3x | Upto 2x |
Frr Shares and Mdirect Commodity Leverage
The commodity leverage provided by Frr Shares is up to Upto 2x, while for Mdirect it is up to Upto 2x.
| Commodity Leverage | Frr Shares | Mdirect |
|---|---|---|
| Commodity | Upto 2x | Upto 2x |
Frr Shares and Mdirect Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Frr Shares | Mdirect |
|---|---|---|
| Free Stock Trading Account | No | No | Free Demat Account | No | No | Flexible Plans | No | No | Brokerage Discounts | No | Yes | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | Yes | No | Referral Program | No | Yes | Zero Brokerage on Loss Trades | No | No |
Frr Shares and Mdirect Features
Equity Trading: Frr Shares and Mdirect brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Frr Shares and Mdirect also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Frr Shares and Mdirect broker is that you can also invest in IPOs. Frr Shares also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Frr Shares offers trading exposure of up to Upto 10x, while Mdirect gives up to Upto 2x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Frr Shares and Mdirect, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Frr Shares and Mdirect also allow you to trade in forex trading.
| Features | Frr Shares | Mdirect |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | Yes | Yes | IPO (Initial public offering) | Yes | Yes | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | No | No |
| Trading Institution | Yes | No | Trading Exposure | Upto 10x | Upto 2x | Mutual Funds | No | Yes | SIP (Systematic Investment Plan) | No | Yes | Forex Trading | No | No | Banking | No | No | Insurance | No | No |
Frr Shares and Mdirect Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Frr Shares and Mdirect offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Frr Shares | Mdirect |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | No |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| Company Stock Review | Yes | No |
| Free Stock Tips | Yes | Yes |
| IPO Reports | Yes | No |
| Top Picks | No | No |
| Daily Market Review | No | No |
| Monthly Reports | No | No |
| Weekly reports | No | No |
| Offline Advisory | Yes | No |
| Relationship Manager | Yes | No |
Frr Shares and Mdirect Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Frr Shares and Mdirect offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Frr Shares | Mdirect |
|---|---|---|
| Windows | Yes | Yes |
| Mac | No | Yes |
| Desktop Browser | No | Yes |
Frr Shares and Mdirect Mobile Trading Platforms
Frr Shares and Mdirect offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Frr Shares | Mdirect |
|---|---|---|
| Mobile Browser | No | Yes |
| Android App | No | No |
| iOS App | No | No |
| Windows App | No | No |
| Other mobile os | No | No |
Frr Shares and Mdirect Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Frr Shares and Mdirect give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Frr Shares | Mdirect |
|---|---|---|
| Relationship Manager | No | No |
| Offline Trading | Yes | No |
| Online Trading | Yes | Yes |
| 24 * 7 Support | No | No |
| Email Support | Yes | Yes |
| Chat Support | No | No |
| Toll free number | No | No |
| Support Branches | 15 | 0 |
Frr Shares and Mdirect Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Frr Shares and Mdirect registered and resolved complaints.
For Frr Shares, the Percentage of resolved BSE complaints is NaN % and the Percentage of resolved NSE complaints is 100.00 %.
For Mdirect, the Percentage of resolved BSE complaints is 75.00 % and the Percentage of resolved NSE complaints is 89.47 %.
We can say that Frr Shares is better than Mdirect in case of resolving customer complaints.
| BSE Complaints | Frr Shares | Mdirect |
|---|---|---|
| BSE Complaints | 0 | 12 |
| BSE Resolved Complaints | 0 | 9 |
| Percentage of resolved BSE complaints | NaN % | 75.00 % |
| NSE Complaints | 5 | 19 |
| NSE Resolved Complaints | 5 | 17 |
| Percentage of resolved NSE complaints | 100.00 % | 89.47 % |
| BSE/NSE Complaint vs. Resolved Percentage | NaN % | 82.24 % |
Frequently Asked Questions
Is Frr Shares better than Mdirect?
Frr Shares is a full service broker and Mdirect is a discount broker. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Mdirect better than Frr Shares?
Mdirect is a discount broker and Frr Shares is a full service broker. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Frr Shares and Mdirect?
Being a full-service broker, Frr Shares tends to have higher brokerage charges, while Mdirect, being a discount broker, offers comparatively cheaper rates. In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Frr Shares and Mdirect?
To figure out which of the two stockbrokers, Frr Shares and Mdirect, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Frr Shares with other stock brokers
Visit the following pages to see a detailed comparision report of Frr Shares with other brokerage firms.
Compare Mdirect with other stock brokers
Visit the following pages to see a detailed comparision report of Mdirect with other brokerage firms.