HomeBUSINESSm.Stock by Mirae Asset launches margin trade facility at 7.99%

m.Stock by Mirae Asset launches margin trade facility at 7.99%

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m.Stock by Mirae Asset on Tuesday announced the launch of a margin trade facility (MTF) option for traders at an interest rate starting at 7.99%, which it claims to be one of the lowest in the industry. 

Named ‘eMargin’, the facility enables traders and investors to get access to instant funding to meet their margin requirements while dealing in equities.

With this, traders can get 80% of their margin funded, and use it to purchase shares at low-interest rates ranging from 7.99-9.49% across over 700 stocks. They can even hold on to the shares for an unlimited period, at no additional cost.

Further according to the company, traders can get the benefit of undertaking unlimited number of trades without having to spend a single rupee on brokerage.

“eMargin has been specially curated for investors who prefer to trade in higher value and volumes. In fact, we have gone a step further, to provide customers with the benefit of an extremely competitive rate of interest which will help them expand their investment threshold, without having to worry about their finances. Going forward, we will continue introducing more such services that add value to a customers’ overall trading experience,” said Jisang Yoo, chief executive officer, Mirae Asset Capital Markets (I) Pvt. Ltd.

Customers can undertake MTF trades at an effective interest rate of 9.49% on trade value up to 10 lakh, at 8.99% on trade value from 10 lakh to 25 lakh and at 7.99% above 25 lakh.

According to the brokerage, the MTF activation is free of cost and does not require any annual or one-time subscription fee to avail the current interest rate.

“Of late, markets have been very volatile with a negative bias creating many buying opportunities in fundamentally strong companies. To ensure that our investors never miss out on any such lucrative opportunities due to lack of funds we at m.Stock are very excited to launch MTF (eMargin) which is an exchange approved funding products for delivery (cash) based transactions at unmatched rate of interest, flexibility to hold on to their portfolios at no additional cost, as well as facilitating unlimited trades without having to pay a single rupee as brokerage for lifetime,” said Arun Chaudhry, director and chief business officer, Mirae Asset Capital Markets.

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