Master Trust: Overview
One of the popular financial services in the country happens to be Master Trust. Its core beliefs are nurtured towards investment, attitude and sound & philosophical investment approach eloping in the investment universe. The company has a considerable track record for over two decades. Ever since its inception, the company has grown strong with 650+ employees and served over 1,50,000+ clients to date.
Master Trust: Overview
Master Trust is a discount brokerage company which is a subsidiary of Master Capital Services Pvt Ltd. Due to the efforts pulled in by Mr Harjeet Singh and Mr R. K. Singhania, the company was founded in 1994. Currently, the company is located at the financial capital of India, Mumbai.
In 1994, the company acquired its membership of NSE. After which it attained its membership in various depository and exchanges services such as NSDL & CSDL. Furthermore, the stockbroker opened gateways to trade with MCX-SX & NSE currency exchanges, NSE & BSE for equity trade and NSDEX & MCX for commodities.
Master Trust: Services Offered
The company provides an exhaustive list of services which are all given below.
- Mutual funds
- Life insurance
- General insurance
- Financial planning
- SEBI Registration Portfolio Manager
- Margin funding and loan
- Property services, and much more.
To avail any one of the services as mentioned above, it can be accessed through any one of the 500+ branches spread all across the country in over 22 states.
For those aspiring to become traders and set up their very own Demat account with the company, then it’s a one-time fee of 555 rupees. An annual fee of 300 rupees would be applicable as maintenance charges for the Demat account. For the trader’s account, it is free. But, a minimum margin of Rs.10,000 should be maintained with Master Trust capital to get started as a trader.
Master Trust: Features & Highlights
The company offers a single login account to undertake all trading options. Even the cross-platform software’s that they offer are convenient—single trading of all segments with back-office software for currency, equity and commodity.
Master trust offers flexible balance features where balances from different segments such as currency, equity, derivatives and commodities can be used as a single balance.
Master Trust: Types of Accounts
Master Trust offers different accounts based on your trading preferences:
1. Standard Brokerage:
In this type of account, brokerage charges are debited in a percentage format. It all depends on the trade or investment segment of the trade. The charges are 0.03% for equity intraday, currency futures, equity futures and 0.030% for equity delivery. Commodity and equity options are charged 75 rupees per lot. On the other hand, currency trades are charged 10 rupees per lot.
2. A 20:20 Plan i.e. Per-order executed
The account has a flat rate of 20 rupees irrespective of the size of the trade. Based on the executed order, 20 rupees is charged. There are no brokerage charges taken for equity delivery through this account. Trading is possible at MCX, NSE and BSE stock markets with derivative, equity, commodities and currency segments.
3. My Plan:
A unique plan that caters to all the trading and investing activities of the user associated with another broker. Master trust has a 25% cut from the existing plans with the other brokers.
Master Trust: Trading Tools and Platforms
1. Master Swift 2.0
A simple yet informative trading tool that is packed with genetic AI strategy. Bundled with advanced charting and strategically optimised tools, helping the traders taking it to the next level. Though these applications are intuitive and engaging, some fee may incur on downloading it or on its usage.
2. Master Mobile
The app is quite intuitive, which enables traders to track trades and equities with seamless movement through all available trading sections. The user interface is relatively straightforward and easy to navigate and set up trades. Carrying out simple trades are possible, but for any complex transaction, it would require a desktop application or through its web portal.
3. Master Web
The platform offers real-time inputs, charts and data about trades along with news feeds, research options, portfolio tracking and much more. It’s all through a single login to access multiple segments of trade on the go.
Master Trust: Account Opening Process
Opening a Master trust account can be done quickly by heading to their website and download the account opening application. Once downloaded, fill in all the details and then attach the necessary documents. You can then mail the application along with the documents to the head office, and your account should be opened.
Master trust offers a broad range of accounts that users can choose from. There are 2-in-1 accounts that can be availed of as well. But if you are looking forward to the typical account opening process, it can be done in two ways.
Mastertrust Online Account Opening Procedure
- Head to the Master trust website and click on the “open Demat account” section.
- Once clicked, a new window will pop up where you will have to enter your name, number, city, and so on. The generic information, and that’s it.
- After giving the information, you should get a call from the customer care representative who will guide you into your account opening process.
- Regarding the KYC verification, you will need to provide soft copies of your PAN card, passport, Aadhar card, bank statements for the past three months, and canceled cheque. Based on the type of account you wish to open, the documents could vary.
- After all of these steps are completed, you will get a call from another representative to complete the verification process.
- After everything is successful, you will get a message regarding the account opening process and instantly complete the payment.
- There is a fee for opening an account, and you can pay it through popular payment portals of your choice.
Mastertrust Offline Account Opening Procedure
- Head to any of the branches of Master trust and ask for an account opening application.
- Fill in all the details asked, and you will have to attach attested documents such as PAN card, Aadhar card, Passport/voter’s ID, Driver’s license, and others.
- Once the application is filled and all the documents are verified, you will have to pay an account opening fee.
- Once paid, it would take a couple of hours to open the account, and you can start using it from then and there. All the details regarding the account would be shared with you through email and SMS.
Master Trust: Account Opening Charges
| Charge Type | Amount |
|---|---|
| Trading Account Opening Charges | ₹100 |
| Demat Account Opening Charges | ₹0 |
| Trading Account AMC | ₹0 |
| Demat Account AMC | ₹300 per year |
Master Trust: Commodity Trading
Master trust offers flexible options in terms of commodity trading. Though the brokerage amount doesn’t entirely depend on the trade, there is a set brokerage amount of 0.01% of the entire transaction.
It means to say that if you were to undertake trade of 1 Lac rupees, then the brokerage fee that you would end up paying is 10 rupees.
Note: The brokerage charges are tentative to change with subject to trade size, amount and transaction. But at most times, it’s at 0.007% of the total turnover, which is the lowest in full-service brokers.
Master Trust: Currency Trading
Towards the currency trades, there is a fixed brokerage cost that is imposed on the traders. Its 5 rupees for every currency transaction. It’s tentative to change based on the transaction, size and amount. But it’s mostly at 0.005% of the total turnover.
About MasterTrust:
MasterTrust is a full-service providing broker based in Ludhiana. This is one of India’s oldest and trusted stockbrokers incorporated in 1985 under the name “Arora Financial Consultants Limited”. it has more than 35 years of experience in this industry. Mastertrust is a listed company that got listed on the BSE in 1995. it has more than 2. Lakh clients and it lets its users invest and trade in Equities, Derivatives, and many other investment vehicles.
Currency Trading:
MasterTrust provides trading in currencies derivatives but for that, you have to fill a basic form. This is required for the activation of the derivatives segment. You have to provide some basic Income proof documents like Bank statement, Salary Slip, etc, post which you can start trading in currencies.
Brokerage Charges:
MasterTrust offers 2 brokerage plans:-
20:20 Plan
Standard Plan
-
20:20 Plan
This is a discount broking plan provided by Master Trust. The account opening charges in this plan is Rs 100 and the Demat AMC (Annual Maintenance Charge) is Rs 300 annually. The brokerage charged in this plan is at a flat rate of Rs 20 per order. The 5th order will be Free under this plan. Currency options are charged at Rs 20 per order. -
Standard Plan
The “Standard Plan” comes with many added benefits such as Free research reports, Branch access, Financial Planning Services, etc. The account opening charges are Rs 100 but there are no AMC charges if the brokerage generated is more than Rs 1000 in one year.
The brokerage charged for Currency options is Rs 25 per lot. Apart from currencies the brokerage on Equity option is Rs 75 per Lot and Rs 130-195 per lot for Commodity options.
Conclusion:
Looking at the experience, MasterTrust can be a good broker if the 20:20 plan has been opted. The standard plan is too expensive for currency traders. There are other Full-service proving brokers who charge much less than Rs 195 per lot in commodities. Therefore you should either consider the 20:20 plan or look for other Full-service brokers if you want to trade in commodities.