Compare stock brokers
Mdirect vs. Share India
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 Mdirect and Share India. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Mdirect and Share India.
Overview
Mdirect are Share India both private companies and both are discount brokers as well. Sushil Agarwal co-founded Mdirect in 1997. And Share India was founded in the year 1993 by Sachin Gupta. Mdirect's headquarters are in Mumbai, Maharashtra and Share India's headquarters are in Uttar Pradesh, India.
Discount brokers, as the name implies, execute buy/sell orders for a lesser commission rate. They usually impose a flat brokerage fee. Investors can save a significant amount of money if they do not use a full-service broker. Mdirect is registered in NA, while Share India is registered in NSE, BSE, and RSE. The total branches of Mdirect are Nil and the Share India branches are 729.
| Overview | Mdirect | Share India |
|---|---|---|
| Broker Type | Discount Broker | Discount Broker |
| Type of company | Private | Private |
| Headquarter | Mumbai, Maharashtra | Uttar Pradesh, India |
| Founders | Sushil Agarwal | Sachin Gupta |
| Foundation Year | 1997 | 1993 |
| Supported Exchanges | NA | NSE, BSE, and RSE |
| Total branches | Nil | 729 |
Mdirect and Share India 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 Mdirect charging Rs.500 and Share India charging Zero.
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 Mdirect Demat account is Free or Rs.400 per Annum and for the Share India Demat account is Rs.300 per Annum. The Trading AMC for Mdirect and Share India 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 Mdirect and Share India is CDSL.
| Account Opening and Demat Charges | Mdirect | Share India |
|---|---|---|
| Trading Account Opening Charges | Rs.500 | Zero |
| Demat AMC (Annual Maintenance Charges) | Free or Rs.400 per Annum | Rs.300 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free | Rs.300 per Annum |
| Margin Money | Zero Margin | Rs.10,000 |
| Offline to Online Charges | Yes | Rs.100 |
| Depository | CDSL & NSDL | CDSL |
Mdirect and Share India 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 Mdirect is Rs.18 per Order, while Share India charges you Zero Brokerage.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Mdirect is Rs.18 per Order or 0.01% whichever is low and for Share India also, it is 0.03%.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Mdirect charge Rs.18 per Order and Share India charge 0.03% 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, Mdirect charges Rs.18 per Order, and Share India charges Rs.20 per executed order.
| Equity Brokerage Charges | Mdirect | Share India |
|---|---|---|
| Equity Delivery Brokerage | Rs.18 per Order | Zero Brokerage |
| Equity Intraday Brokerage | Rs.18 per Order or 0.01% whichever is low | 0.03% |
| Equity Futures Brokerage | Rs.18 per Order | 0.03% |
| Equity Options Brokerage | Rs.18 per Order | Rs.20 per executed order |
Mdirect and Share India 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 Mdirect is Rs.18 per Order and for Share India is 0.04%.
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. Mdirect charges Rs.18 per Order for currency options, whereas Mdirect charges 0.04%.
| Currency Brokerage Charges | Mdirect | Share India |
|---|---|---|
| Currency Futures Brokerage | Rs.18 per Order | 0.04% |
| Currency Options Brokerage | Rs.18 per Order | 0.04% |
Mdirect and Share India 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. Mdirect charges Rs.18 per Order for commodity trading, while Share India charges 0.04%.
| Commodity Brokerage Charges | Mdirect | Share India |
|---|---|---|
| Commodity Options Brokerage | Rs.18 per Order | 0.04% |
Mdirect and Share India Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Mdirect levies a minimum brokerage fee of Rs.18, while Share India charges Rs.10 Per Order brokerage fee.
Transaction Brokerage Charges: Mdirect levies a transaction brokerage charge of 0.00301% of Total Turnover, while Share India charges 0.00325% 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 Mdirect is 0.0007% of Total Turnover and for Mdirect is 0.0002% 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 Mdirect are 0.0112% of Total Turnover, while for Share India, they are 0.0126% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Mdirect charges NA and Share India charges Rs.50 per order placed through a dealer at Share India.
| Other Brokerage Charges | Mdirect | Share India |
|---|---|---|
| Minimum Brokerage Charges | Rs.18 | Rs.10 Per Order | Transaction Brokerage Charges | 0.00301% of Total Turnover | 0.00325% of Total Turnover | SEBI Turnover Charges | 0.0007% of Total Turnover | 0.0002% 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 | 0.0112% of Total Turnover | 0.0126% of Total Turnover | Call and Trade Charges | NA | Rs.50 per order placed through a dealer at Share India |
Mdirect and Share India 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 Mdirect is up to Upto 2x and by Share India it is up to Upto 5x.
Equity Intraday: Leverage for equity intraday by Mdirect is up to Upto 2x and by Share India it is up to Upto 3x.
Equity Futures: Leverage for Equity Futures by Mdirect is up to Upto 2x and by Share India it is up to Upto 10x.
Equity Options: Leverage for Equity Options by Mdirect is up to Upto 2x and by Share India also, it is up to Upto 10x.
| Equity Leverage | Mdirect | Share India |
|---|---|---|
| Equity Delivery | Upto 2x | Upto 5x | Equity Intraday | Upto 2x | Upto 3x | Equity Futures | Upto 2x | Upto 10x | Equity Options | Upto 2x | Upto 10x |
Mdirect and Share India Currency Leverage
The currency futures leverage provided by Mdirect is up to Upto 2x, while for Share India it is up to Upto 10x.
The currency options leverage provided by Mdirect is up to Upto 2x, while for Share India it is up to Upto 10x.
| Currency Leverage | Mdirect | Share India |
|---|---|---|
| Currency Futures | Upto 2x | Upto 10x | Currency Options | Upto 2x | Upto 10x |
Mdirect and Share India Commodity Leverage
The commodity leverage provided by Mdirect is up to Upto 2x, while for Share India it is up to Upto 10x.
| Commodity Leverage | Mdirect | Share India |
|---|---|---|
| Commodity | Upto 2x | Upto 10x |
Mdirect and Share India 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 | Mdirect | Share India |
|---|---|---|
| Free Stock Trading Account | No | Yes | Free Demat Account | No | Yes | Flexible Plans | No | Yes | Brokerage Discounts | Yes | No | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | No | No | Referral Program | Yes | No | Zero Brokerage on Loss Trades | No | No |
Mdirect and Share India Features
Equity Trading: Mdirect and Share India 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: Mdirect and Share India also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Mdirect and Share India broker is that you can also invest in IPOs. Mdirect also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Mdirect offers trading exposure of up to Upto 2x, while Share India gives up to Upto 10x.
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 Mdirect and Share India, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Mdirect and Share India also allow you to trade in forex trading.
| Features | Mdirect | Share India |
|---|---|---|
| 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 | No | No | Trading Exposure | Upto 2x | Upto 10x | Mutual Funds | Yes | Yes | SIP (Systematic Investment Plan) | Yes | Yes | Forex Trading | No | No | Banking | No | No | Insurance | No | No |
Mdirect and Share India 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. Mdirect and Share India 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 | Mdirect | Share India |
|---|---|---|
| Fundamental Reports | No | No |
| Research Reports | No | No |
| Company Reports | No | No |
| Annual Reports | No | No |
| Company Stock Review | No | No |
| Free Stock Tips | Yes | Yes |
| IPO Reports | No | Yes |
| Top Picks | No | Yes |
| Daily Market Review | No | Yes |
| Monthly Reports | No | Yes |
| Weekly reports | No | Yes |
| Offline Advisory | No | Yes |
| Relationship Manager | No | Yes |
Mdirect and Share India 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. Mdirect and Share India 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 | Mdirect | Share India |
|---|---|---|
| Windows | Yes | Yes |
| Mac | Yes | Yes |
| Desktop Browser | Yes | Yes |
Mdirect and Share India Mobile Trading Platforms
Mdirect and Share India offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Mdirect | Share India |
|---|---|---|
| Mobile Browser | Yes | Yes |
| Android App | No | Yes |
| iOS App | No | Yes |
| Windows App | No | No |
| Other mobile os | No | Yes |
Mdirect and Share India 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. Mdirect and Share India 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 | Mdirect | Share India |
|---|---|---|
| Relationship Manager | No | Yes |
| Offline Trading | No | Yes |
| Online Trading | Yes | Yes |
| 24 * 7 Support | No | Yes |
| Email Support | Yes | Yes |
| Chat Support | No | Yes |
| Toll free number | No | Yes |
| Support Branches | 0 | 16 |
Mdirect and Share India 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 Mdirect and Share India registered and resolved complaints.
For Mdirect, the Percentage of resolved BSE complaints is 75.00 % and the Percentage of resolved NSE complaints is 89.47 %.
For Share India, the Percentage of resolved BSE complaints is 100.00 % and the Percentage of resolved NSE complaints is 100.00 %.
We can say that Mdirect is better than Share India in case of resolving customer complaints.
| BSE Complaints | Mdirect | Share India |
|---|---|---|
| BSE Complaints | 12 | 11 |
| BSE Resolved Complaints | 9 | 11 |
| Percentage of resolved BSE complaints | 75.00 % | 100.00 % |
| NSE Complaints | 19 | 6 |
| NSE Resolved Complaints | 17 | 6 |
| Percentage of resolved NSE complaints | 89.47 % | 100.00 % |
| BSE/NSE Complaint vs. Resolved Percentage | 82.24 % | 100.00 % |
Frequently Asked Questions
Is Mdirect better than Share India?
Mdirect and Share India are at the top among the best discount brokers. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Share India better than Mdirect?
Both Share India and Mdirect are discount brokers. 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 Mdirect and Share India?
The brokerage charges for Mdirect and Share India are on the cheaper side because they both are discount brokers. . 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, Mdirect and Share India?
To figure out which of the two stockbrokers, Mdirect and Share India, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Mdirect with other stock brokers
Visit the following pages to see a detailed comparision report of Mdirect with other brokerage firms.
Compare Share India with other stock brokers
Visit the following pages to see a detailed comparision report of Share India with other brokerage firms.