Ajay Bohra
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mStock: delivery brokerage ₹10 per order, AMC ₹0. Zerodha: delivery ₹0, AMC ₹0 in year one, then ₹300 + GST a year. A ₹1,00,000 delivery round trip costs ₹267.32 on mStock and ₹237.82 on Zerodha.
Last updated: October 2026
This page compares mStock and Zerodha on what you actually pay: brokerage, AMC, DP charges and the total cost of three sample trades. Charges were checked against each broker’s published pricing in October 2026 and can change, so confirm before you open an account. This is information, not investment advice.
mStock vs Zerodha: charges side by side
| Charge | mStock | Zerodha |
|---|---|---|
| Account opening | ₹0 | ₹0 |
| Equity delivery brokerage | ₹10 per order | ₹0 |
| Equity intraday brokerage | ₹10 per order | Lower of ₹20 or 0.03% |
| Futures and options | ₹10 per order | ₹20 per order (futures: lower of ₹20 or 0.03%) |
| Demat AMC | ₹0 | Free for the first year, then ₹300 + GST a year (non-BSDA) |
| DP charge on sells | ₹18 + GST per debit on sells | ₹15.34 per scrip sold including GST |
| Pledge | MTF ₹32 per pledge sequence number per day + GST | ₹30 + GST per ISIN (₹15 + GST for MTF) |
| Call and trade | ₹0 | ₹50 per order |
| Auto square-off | RMS square-off ₹100 + GST per executed order | ₹50 per order (dealer-placed orders and auto square-off) |
What the same trades cost on each broker
These examples add up brokerage, STT, exchange charges, SEBI fees, stamp duty, GST and the DP charge on a round trip (buy and sell). Delivery and intraday trades buy and sell ₹1,00,000 of shares once each. The options trade buys premium worth ₹50,000 and sells it for ₹60,000, with one lot per order. Amounts are rounded to the nearest paisa.
| Trade | mStock | Zerodha |
|---|---|---|
| Delivery (₹1,00,000 buy and sell) | ₹267.32 | ₹237.82 |
| Intraday (₹1,00,000 buy and sell) | ₹59.08 | ₹82.68 |
| Options (₹50,000 buy, ₹60,000 sell) | ₹161.35 | ₹184.95 |
Delivery: Zerodha costs ₹29.50 less (₹237.82 against ₹267.32). Intraday: mStock costs ₹23.60 less (₹59.08 against ₹82.68). Options: mStock costs ₹23.60 less (₹161.35 against ₹184.95). Your own order sizes and how often you trade decide which costs less, so test them in the calculator.
mStock or Zerodha: what to weigh
mStock may suit you if:
- you trade intraday (₹23.60 less on the ₹1,00,000 example)
- you trade options (₹23.60 less on the options example)
- you keep the account for years: AMC after year one is ₹0 against ₹300 + GST a year
- you place phone orders: call and trade is cheaper (₹0 against ₹50 per order)
Zerodha may suit you if:
- you buy and sell delivery often (the ₹1,00,000 round trip costs ₹29.50 less here)
- you sell shares often: the DP charge per sell is lower (₹15.34 against ₹21.24)
Both statements describe published charges, not a recommendation. Your own order sizes, how often you trade and how long you hold shares decide which costs more. Use the brokerage calculator to test your own numbers.
Full charge breakdowns
See every charge, worked examples and FAQs on the mStock charges page and the Zerodha charges page. More pairs are on the broker comparisons hub.
mStock vs Zerodha: FAQs
Which is cheaper for delivery, mStock or Zerodha?
Zerodha on the ₹1,00,000 delivery example: ₹267.32 on mStock and ₹237.82 on Zerodha. Delivery brokerage is ₹10 per order at mStock and ₹0 at Zerodha.
Which has the lower AMC?
mStock: ₹0. Zerodha: ₹0 in year one, then ₹300 + GST a year.
How do F&O charges compare?
mStock: ₹10 per order. Zerodha: ₹20 per order (futures: lower of ₹20 or 0.03%). On the options example the round trip costs ₹161.35 on mStock and ₹184.95 on Zerodha.
How do DP charges compare?
mStock: ₹18 + GST per debit on sells. Zerodha: ₹15.34 per scrip sold including GST.
Is STT different between brokers?
No. STT is set by the government: 0.1% on buy and sell for delivery, 0.025% on the sell side for intraday, 0.05% on the sell side for futures and 0.15% on the sell premium for options. It is the same at every broker.
Sources
mStock: mStock pricing page. Zerodha: Zerodha charges page. STT, stamp duty, SEBI turnover fee and exchange transaction charges follow the rates set by the government, SEBI and the exchanges.
Brokerage, AMC and statutory charges change. This page is for information and education only, not investment advice.
