Find Your Franchise

Know everything about mStock Franchise Business Opportunity here.

mStock is a brokerage house under Mirae Asset which is one of India’s top Asset management companies. In this article, we will talk about the mStock sub broker in detail.

If you are considering applying for the mStock Partner program, this is the article you need to read. It will help you understand all the aspects of the franchise of mStock.

Mstock Franchise Business Opportunity - Snapshot

Line of Business

Sub Broker

Unit / Shop Area

150 - 200 Sq. Ft.

Commission% / Revenue Sharing

40% to 65%

Total Investment

Rs.3,000 - Rs.90,000

ROI Timeframe

2 Month

Mstock Sub Broker Review & Ratings by FranchiseByte

Revenue Sharing

3.64 / 5

Franchise Fee & Infra Investment

3.21 / 5

Support & Training

4.07 / 5

ROI Timeframe

3.85 / 5

Brand Value

3.96 / 5

Overall Ratings

3.75 / 5

Star Ratings

Overview of Mstock Sub Broker Franchise


Finance & Money

Business Line

Sub Broker

Organization Type


Head Office



Park Hyeon-Joo

Founded In (year)


No. of Franchise Outlets


Master Franchise Model

Not Available

Franchise Tenure


Franchise Location

All over India

Business Set-Up Time

15 days

Franchise Commencement Year


As mStock comes under Mirae Asset, becoming a mStock Sub Broker means you will benefit from Mirae Asset research and advisory along with the other services, features, and facilities.

mStock was started in 1997 by Mirae Asset, with its headquarters in Mumbai. It was founded by Park Hyeon-Joo.

Currently, the number of franchises that mStock has is over two hundred, spread across the country.

mStock is a new-age stock broking firm that offers basic and advanced trading options and platforms.

For franchises, you can get lifelong franchise benefits once you become a franchisee of mStock, and the time to set up the business franchise requires hardly fifteen days.

This is one of the minimum times to set up any franchise business.

mStock Franchise – Business Models

3 Business Models provided by Mstock Sub Brokership.

Business Models Revenue Sharing
Sub Broker 55% – 65%
Partner 40% – 50%
Refer and Earn Rs.555 per Client

mStock Sub Broker Model

Now to become a franchise of mStock, you can choose between three of the business models they offer. These are mStock Sub Broker, mStock Partner, and Refer and Earn program.

The mStock sub broker model is one of the most popular models as it has the highest earnings potential.

With the sub-broker model, you need to acquire clients. For this, you must first identify or find potential clients.

Then you must understand their investment requirements, financial position, goals, and risk-taking abilities. Then you have to pitch about the mStock products and services.

As a sub-broker of mStock, you need to assist them with account opening after the acquisition of clients.

Then for those clients who wait to start trading, you need to follow up and assist in helping them in starting.

As a sub-broker, you must continuously offer your clients services from research and advisory to dealing services.

mStock Partner Model

The mStock Partner model is a low-investment high, return business model. Here you need to acquire clients with the right pitch.

Then you have to help them with the account opening. Once they open the account, your role is over. Now they will take it forward from there.

So, the only difference between a partner model and a sub-broker is that the former needs to offer services until account opening, but the sub-brokers need to continue offering services.

mStock Referral Program

If you want to join mStock as a referral partner, you can choose the mStock Refer and Earn. Under this business model, the referral partner only needs to bring new clients to mStock.

He needs to provide no other services like research and advisory or dealing. The referral program partners can assist the clients in opening an account or starting trading on the mStock Platform.

They need to identify and pitch to potential clients. If the lead opens an account with mStock, the referral partner gets a fixed commission from mStock.

Mstock Franchise Cost & Fees

Sub Broker - Franchise Fee


Partner - Franchise Fee


Infrastructure Investment

Zero - Rs.60,000

The mStock Franchise Cost differs per the business plan, and no cost or investment is required if you join the refer and earn program.

Now for the sub-broker business model, the franchise fee is Rs.30,000. Sub-brokers’ major investment goes into infrastructure.

It costs around Rs.60,000 to set up the entire sub-broker office and other facilities for clients. The cost and fees you require for the Partner business model are nominal.

The franchise fee is only Rs.3,000, while there are no infrastructure requirements and thus no expenses.

Mstock Sub Broker Commission / Revenue Sharing / Royalty

Sub Broker Commission

55% to 65%

Stock Broker Commission

25% to 35%

Partner Commission

40% to 50%

Stock Broker Commission

50% to 60%

The mStock Partner Commission is decided based on business models and the security deposit amount.

The more security deposit you keep, the higher your share in the revenue you will be entitled to. So, at present, sub-brokers of mStock get 55% to 65% of the revenue share.

This means if your clients pay Rs.1 lakh of brokerage in a month to the broker, you can receive Rs.55,000 to Rs.65,000 out of the same as your cut.

Similarly, the Partners of mStock get 40% as the minimum commission, while the maximum goes up to 50%.

Mstock Business Partner ROI Details

In Years

2 Month

When you start your franchise business with mStock, you need to know how quickly you can generate mStock Sub Broker Returns.

So, with mStock, you can start generating positive returns within an average of two months.

Since the investment requirement is low and if you have a good client base, it becomes easier to generate positive returns within a short span.

mStock Sub Broker Profits & Expenses

Monthly Revenue
No. of Active Clients 175
Daily Trades per Clients 3
Brokerage per Trade 20
Trading Days in 1 Month 15
Total Brokerage Revenue 1,57,500
Sub Broker’s Share (60%) 94,500
Monthly Expenses
Office Rent (Co-working Space) 15,000
1 Telecaller Cost 12,000
1 Dealer Cost 15,000
Misc. Expenses 5,000
Total Cost 47,000
Monthly Profit
(Revenue – Expenses) 47,500
Profit Margin 30%

The mStock Sub Broker Profits depend on the number of clients the sub-brokers have with them. It will be more specific to say the number of active clients they have.

Given the revenue share, they earn between 55% and 65%; even if you take the average, it is 60%.

Now you need to deduct the expenses such as rent for the office, employee’s salary, utility bills of the office, and miscellaneous expenditures.

Then you can derive the net profit for the sub-brokers. Ultimately, the sub-brokers are left with around 30% as profits.

mStock Partner Profits & Expenses

Monthly Revenue
No. of Active Clients 175
Daily Trades per Clients 3
Brokerage per Trade 20
Trading Days in 1 Month 15
Total Brokerage Revenue 1,57,500
Partner’s Share (50%) 78,750
Monthly Expenses
1 Telecaller Cost 12,000
Misc. Expenses 5,000
Total Cost 17,000
Monthly Profit
(Revenue – Expenses) 61,750
Profit Margin 39%

Now for deriving the mStock Partner Profits, you need again to calculate the revenue by the clients in total.

Then take the revenue share you are entitled to as a partner, which is between 40% and 50%. Then you deduct the utility bills and miscellaneous expenses you bear for running the business.

This will give you the profit for the partner’s business model. The average profit margin that Partners are left with is around 39%.

Master Franchise of Mstock - Information

Franchise Fee


Infrastructure Investment


Commission% / Revenue Sharing


Mstock Partner Infrastructure Requirement

Shop / Unit Area

150 - 200 Sq. Ft.

Employee Strength

1 to 2

Research / Advisory


Trading Terminals Set-up


Telephone Lines


Computer / Internet Connectivity




CCTV Set-up


For mStock Franchise, you must set up certain infrastructure, especially when opting for the sub-brokers model.

You must set up the office in at least 150-200 square feet. Then you need at least one or two employees for tell calling, dealing, and client handling.

For mStock sub-brokers, the terminal set-up is not mandatory, as are the research and advisory services. However, the office needs to have CCTV surveillance and computers.

Check out Business Opportunities with Similar Brands

Support extended by Mstock Sub Broker Franchise

Service Pricing




Client Interaction Training

Occasionally Available

Relationship Manager Support


Back-Office Support


Trading Support


Advisory Support

Available - Paid

Marketing Support

Partially Available

Business Management Software

Not Available

Website Support

Not Available

Operation Manual


Training Manual


mStock Sub Broker gets different forms of support from the brokerage house. It includes different offers to boost trading revenue.

The broker offers relationship manager support for the clients of the sub-broker. They also get complete back-office support which helps track the sub-broker’s earnings.

Trading support and marketing support are also there. The sub-broker must pay certain fees to the brokerage house for advisory support.

All this support helps the sub-broker easily establish a good relationship with the clients and retain them for a long.

This, in turn, helps generate more revenue for the brokerage house and the franchises.

Franchise of Mstock Sub Broker - Marketing Support

Unit Interior & Exterior Ads


Local Advertisement


Digital Marketing

Not Available

Television Advertisement

Not Available

Prints Advertisement

Not Available


Not Available

The marketing support rendered by mStock for the mStock Authorised Person includes advertisements for unit interior and exterior unit ads.

The brokerage house also helps put local ads around the city and the towns. This is a very popular way of marketing to date in the towns of India.

Training provided by Mstock Partner Program

Product Information Training


Dealers Training


Service Training


The mStock Affiliate Partner gets different training from the brokerage house as well. This includes service training which helps in client servicing.

This enhances the skills of the sub-brokers, which helps in servicing the clients better.

Then there is product information training which helps in a complete understanding of the products the brokerage house offers and pitches the right details to the client.

Also, mStock offers dealers training, which helps trade or deal in securities.

Mstock Franchise - Products & Services Offered

Equity Trading


Commodity Trading


Currency Trading






Mutual Funds








Demat Services


3 in 1 Acount


IPO Services


Stock Recommendations


Robo Advisory




Exposure or Limit


Mobile App


Web Trading Platform


Trading Terminal


Algo Trading Platform


Basket Trading


mStock Franchise can offer all the products of mStock. This includes equities, F&O, and commodities. So, apart from currency trading, mStock offers all asset classes to trade and invest in.

Moreover, it offers mutual funds as well for investors who are looking for passive investments. There are insurance products that mStock franchises can offer to their clients.

Apart from these, you can offer your clients IPO services, stock recommendations, margin trading benefits, and much more.

Check out Business Opportunities with Similar Brands

Franchise for Mstock - Revenue per Customer





Equity Options


Equity Futures




Currency options


Currency Futures


Franchisee Qualification required by Mstock Sub Broker

Age Limit

21 & above

Business Experience


Academic Qualification

No Restriction

Documents Required to Start Mstock Partner Program

Franchise Agreement


Proprietor Aadhaar Copy


Proprietor Photo


Proprietor / Business PAN Copy


Business TAN Copy


GST Registration Certificate


Proprietor / Business Address Proof


Unit / Shop Address Proof


NOC of Unit / Shop


mStock Partner or Sub Broker Dashboard

Here is mStock Franchise Dashboard link.

Partner / Sub Broker Dashboard Link

When you start as a franchise of mStock, you get access to the mStock Partner Dashboard. This is the back-office business management tool where you can track your generated leads.

Then it helps in understanding how much revenue you generate in a month or any period you choose.

You can check how many leads are opening an account, how many need further services, and more. You can also see a graphical representation of your earnings growth and others.

mStock Franchise Login

For mStock Franchise Login, you must download and install the dashboard on your system. Then you need to enter your partner account’s login id and password.

Make sure to change the password after the first login. It will ensure the safety of the account. Once you are logged in, you can see all your business details on the dashboard.

mStock Sub Broker Benefits

Out of many mStock Sub Broker Benefits, here are the most crucial ones that you must be aware of –

  • mStock offers its franchises one of the highest shares in the revenue
  • This brokerage house also charges one of the lowest fees for franchise rights, and that too for a life-long franchise agreement.
  • mStock offers its trading platforms extra support, trading, investment options, and advanced technology.
  • The time required to break even as a mStock franchise is only two months, one of the few in the industry.

mStock Franchise Drawbacks

The mStock Franchise Drawbacks can be –

  • Unavailability of currency trading
  • Costly advisory services

mStock Partner Program – Conclusion

So, if you want to enroll in mStock Partner Program, you no longer need to wait. You can start today by starting out fill the form.

Becoming a mStock franchise can not only help you earn handsomely but also help you grow yourself as a stock market enthusiast.

FAQs on mStock Franchise Business

Check out various FAQs on mStock Affiliate Partner Program.

Does mStock have Authorized Person?

Yes, mStock Authorised Person is the sub-brokers business model they have.

As per new regulations of SEBI, sub-brokers are now referred to as Authorised persons, and thus mStock has the Authorised person program; it is just that the name is still a sub-brokers program.

How many Affiliate Partners does mStock have?

mStock has over two hundred affiliate partners across the country. It is growing rapidly, mainly because it is an undertaking of Mirae assets and excellent services.

What are the mStock Referral Agents?

Referral Agents of mStock are those who refer potential clients to the broker.

Now if these people open an account, the referral agent gets a commission fixed by mStock. It is, at present, Rs. 555 for each account opening.

How can I become a mStock Associate Partner?

To become mStock Associate Partner, you must apply for a franchise with the broker. After KYC and other documentation and legalities, you can start the business as a broker’s partner.

How much can I earn as mStock Partner or Dealership?

The earning potential depends on your clientele. The more active clients you have, the more earnings you can generate. The basic revenue share is 40%-50% for partners of mStock, though.

Am I eligible to start a mStock Partnership Agency?

If you are a graduate with a required license for sunning a stock market franchise, you will be eligible for mStock Partnership Agency.

Do I need to have a mStock trading account?

No, when you join mStock as a Partner or sub-broker, you need to have a partner’s account, not Demat or Trading amount.

How much do I need to invest in becoming mStock’s authorized partner?

As a Partner, you need to pay the fee, which is currently Rs. 3000 only. Apart from these, there are other expenses too for running the business.

How can I track my earnings with mStock?

You will get access to the mStock Partner portal. On this dashboard, you can see all your earnings and leads.

Is mStock safe to become a partner?

mStock is a part of Mirae Asset and registered under SEBI, so it is hundred percent secure for every penny you trade or invests with the broker.


Get 70% Revenue Sharing Now!Become Sub Broker