Mdirect Review - A Discount Share Broker India 2018

Last Updated - 2018-05-16

Rated 3/5 based on 94 customer reviews

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MDirect, a Discount Broker providing customers trading across all segments augmented with research reports, daily newsletters through email or SMS at simple and inexpensive price.

Brokerage Charges
Investments Offering
Trading Platform
Customer Service

Why MDirect?

  • E-KYC to be introduce soon.
  • Single sign in for equities, commodity and currency
  • Flat brokerage @ Rs 18 per executed order across all segments and exchanges.
  • Strong and Visible Team for Research in Equities, Commodities & Currency Segments
  • Daily Newsletter
  • Intraday and Positional Calls through SMS.
Special Offer: First 5 orders Free, First year DP AMC Free, Free research

  • In house research reports
  • Workshops/ seminars/ webinars to educate traders.
  • Simple and transparent Pricing.
  • Well researched professional guidance.
  • Multiple Segments and Exchanges on same trading Window.


  • No referral program
  • No advance tools or technology
  • No monthly and yearly plans
  • doesn't offer facility to invest in IPO, FPO, Mutual Funds, FDs, NCDs
  • Margin funding and NRI tradingis not available

Exclusive OfferExclusive Offer

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MDirect Review - 2018

MDirect is the online platform for trading by Moneylicious Capital & Advisory Services Pvt. Ltd.

MDirect is the Mumbai based new entrant in Discount Broker Industry having membership in NSE, BSE, MCX, NCDEX and MSEI.

MDirect offers trading in equity delivery, equity intraday, equity derivatives (F&O), currency and Commodity segments at a very affordable flat fee of Rs 18 per executed order.

The Brokerprovides easy-to-use platform for trading and complementing the same by delivering stock and commodity specific research reports to your email ids on daily basis. With MDirect you can view your trade, do fund Transfers and manage your Portfolio on a single screen.

Customer Care is available through email, toll free no, phone, online feedback, online message. It looks satisfactory not the best though.

Request call back from MDirect
MDirect with closest competitors
Broker MDirect Zerodha ICICIDirect Sharekhan ProStocks
Service Type Discount Broker Discount Broker Full Service Broker Full Service Broker Discount Broker
Brokerage Rs 18 Rs 20 0.05 to .55% 0.1 to 0.5% Rs 15
Account Type 2 in 1 2 in 1 3 in 1 2 in 1 2 in 1
Monthly Plans No No No Yes
Please refer unique and accurate MDirect Brokerage Calculator

MDirect Brokerage Charges - 2018

Mdirect Brokerage is competitive and straight forward. No platform or hidden fees. The rates are all inclusive.

MDirect offers Rs 18 per executed order plan across all segments.

Client pays flat Rs 18 per executed order irrespective to the size of the order. Call and trade facility is available at an additional charges of Rs 18 per executed order. So if you place order by phone it will cost you 18 for call and trade + 18 as brokerage.

M Direct brokerage of Rs 18 flat-rate share trades are higher than ProStocks (Rs 15 ), SASOnline (Rs 9) & RK Global (Rs 9),Wisdom Capital (Rs 9),My Value Trade(10 Rs),Trade Smart Online (15 Rs) and lower than Zerodha (Rs 20),RKSV (Rs 20),Tradejini (Rs 20) plans.

MDirect Account Opening Charges

  • Trading Account Opening Charges (One Time): Rs 200
  • Demat account Opening Charges (One Time): Rs 200
  • Trading Annual maintenance charges (AMC): Nil
  • Demat Account Annual Maintenance Charges (AMC): Free for 1st year (Rs 400 from 2nd year)
  • Commodity account Opening Charges (One Time): Rs 100
  • Currency Account Opening Charges : Rs 100
  • All in one Account : Rs 500

MDirect Brokerage Charges

  • Equity Delivery Trading Brokerage: Rs 18 per executed order
  • Equity Intraday Trading Brokerage: Rs 18 or .01 whichever is lower
  • Equity Future Trading Brokerage: Rs 18 per executed order
  • Equity Options Trading Brokerage: Rs 18 per executed order
  • Commodity Trading Brokerage: Rs 18 per executed order
  • Currency Futures Trading Brokerage: Rs 18 per executed order
  • Currency Options Brokerage : Rs 18 per executed order
For complete brokerage charges and trading plans detail please visit MDirect Brokerage Charges.
MDirect Brokerage Charges - Rs 18 Per Trader Plan
Brokerage Plan Rs 18 Per Trader Plan
Flat Fee NA
Equity Delivery Rs 18 per executed order
Equity Intraday Rs 18 or 0.01 % whichever is lower
Equity Futures Rs 18 per executed order
Equity Options Rs 18 per executed order
Currency Futures Rs 18 per executed order
Currency Options Rs 18 per executed order
Commodity Rs 18 per executed order

Account Opening with MDirect

  • Toll Free Number :-18602671671
  • Telephone :+91 22 6601 8356 - 58
  • Support Email - [email protected]
  • Helpline Email - [email protected]
  • Corporate Address - M Direct
    1803-05, 18th Floor, C Wing
    One BKC, Bandra Kurla Complex,
    Bandra East.
    Mumbai - 400 051.

Contact MDirect

Are you a day trader?

MDirect Web, Mobile app and Desktop base trading platform - 2018

Clients can trade with MDirect using Omnesys NEST platform which is available in desktop, web and mobile versions. This is a fully functional trading terminal allowing fast execution of orders with real time monitoring.

MDirect NEST Plus: MDirect NEST Plusis a desktop base installable trading platform by "Omnesys NEST". Advance charting tools for technical analysis, option trading strategies, live quotes, market Analysis, real-time news from Dow Jones, market monitor and scanner makes up the bulk of this platforms offering.With this you can trade all segments and exchanges on a single platform.

Web Version: MDirect NEST Plus also available in web version which works on any web browser, no need to install or download anything. The web address for this is

MDirect Mobile Tading : The app is available for android and IOS users to for real time feed and to track orders and positions on the go.

For detail review of mobile app and download please visit MDirect Mobile App.

MDirect Membership Information

  1. MDirect NSE Membership:INZ230007833
  2. MDirect BSE Membership:INZ230007833
  3. MDirect MCX Membership:46035
  4. MDirect SEBI Registration:INH300003314
  5. Corporate Address:1803, 18th Floor, C -wing,One BKC, Opposite Indian Oil, BKC, Mumbai- 400051
  6. Registered Address:7A NPS Bussiness Center, Kiran Shankar Roy road, Kolkata 700001

MDirect Product and Services

3 in 1 Accounthelp
Multiple Plans help
Monthly Plan help
Yearly Plan help
Portfolio help
Charting help
Automated Trading help
AMO Order help
Allow GTC Order help
SMS Alerts help
Margin Trade Funding help
Combined Ledger for Equity and Commodityhelp
NRI Trading help

MDirect Offering of Investments

Equity Cash and F&O help
Currency F&O help
Commodity Trading help
Mutual Funds help
ETF help
IPO Investment help
Bonds Investment help
Debt Investment help
Banking Service help
Insurance Service help
SIP Investment help

MDirect Trading Platforms & Tools

Desktop Platform (Windows) help
Desktop Platform (Mac) help
Web Platform help
Stock Alerts Delivery - Email help
Stock Alerts Delivery - Text SMS help
Virtual Trading help
Watch-lists, streaming real-time quotes help
Mobile Trading help
Android Tablet App help
Android App help
iPhone App help
iPad App help
Mobile Trading Site help

MDirect Customer Service

Phone Support help
Toll Free Number help
Email Support help
Branch Offices help
Live Chat (Current Clients) help
24/7 Support help

MDirect Research and Market Reports

Daily Market Report help
Free Tips help
Quarterly Results help
New Alerts help
Mutual Funds Research help
Research Equity Reports help
ETF Research help

Final thought about MDirect

MDirect is the discount broker with a little twist since charging as a discount broker but providing research reports and tips as full service broker only lacking behind in tools and technology.

MDirect can be a good bet for beginners in stock market as they provide research and tips at a reasonable rates.

If you like what you have read and want to choose MDirect or any other broker, leave your contact information with us and we will guide you.

MDirect User Reviews


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Max Rs 20 Per Trade for Equity Intraday, F&O, Currency & Commodity



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Free Equity Delivery Trades
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