My Value Trade Review
My Value trade, a discount stockbroker, started its operations back in 1985 (as Master Capital Services) which is around the similar time when most of the other prominent stock trading companies intercepted. However, it pivoted to discount broking model in August 2014 only.
This Ludhiana based group claim a turnover of INR 4500 Crore on a daily basis. Without a doubt, however, My Value Trade is a discount broker with one of the lowest brokerage charges (more about this when we talk about Pricing).
Its trading and investment services include all segments namely:
- Mutual Funds
"My Value Trade's parent Master Capital has an active client base of 34,623 at the National Stock Exchange (NSE)."
My Value trade Trading Platforms
Clients get access to trading platforms across Web, Desktop as well as Mobile. Here are the details:
MVT Trader - Desktop
This is a desktop based application that comes with features such as:
- Advanced charting with 40+ technical indicators signalling. This indicates the user about when is the best and worst time to buy or sell.
- A unique feature of social media integration by which you can view the twitter feed of your account within the MVT Trader tool itself, post integrating it with your twitter account.
"The trading platforms of My Value Trade provide decent reliability with exchange connectivity of 240 orders/second for sending and execution of orders."
- Real-time updates available for all NSE stocks cutting through their 52 weeks high/low, Day high/low and the ones that are approaching their upper and lower circuit levels
- View 4 business channels LIVE while trading within the tool itself
- Personalize & customize the trading platform as per preferences including complex charting functions
MVT Classic - Web
This is a browser-based application that can be accessed from anywhere using your login credentials. It comes loaded with the following features:
- Single Sign-On provides an ease of use and flexibility to its users so that they can access trading, back-office reports or analytics without having to sign into multiple applications
- Compatible with all kinds of web browsers
- All markets can be accessed using this browser-based application across equity, currency, commodity or derivative segments with all kinds of technical charts
This is not a responsive application so the user experience may get compromised if clients access the application through a mobile or tablet device.
My Value trade - MVT Mobile App
Having a mobile presence is more of a necessity than being an advanced feature these days.
The discount broker does have a presence on mobile via its MVT - Mobile app that allows you to trade on the go. Here are its features:
- Dual security with a login as well as a trading password provides an extra level of security to the customer's data.
- Availability of Real-time quotes of scrips across different trading segments with quick notes on last traded price, bid size, percentage change. This gives users access to minute level important information that can help him/her to take a decision.
- The mobile app comes with all sorts of notifications based on your preferences and your trading patterns.
- Market watch sync feature allows a user to save lists created on MVT Trader or Classic platforms.
Also Read: Best Online Trading Platforms in India
As seen in the ratings above, the app has been completely rejected by the users in regards to performance, a number of features, overall usability etc. Users are advised to go through a detailed demo of the trading platforms, including the mobile app before committing yourself to this particular stockbroker.
My Value trade Customer Service
My Value Trade provides support through the following communication channels:
- Web Chat
- Social Media
The broker offers reasonable customer service quality through its small team based out at the headquarter office in Ludhiana, Punjab. Overall the customer service is "salsy" in nature and does not really focus too much on providing decent experience to its clients. The resolutions are copy-pasted and are completely generic in nature. Thus, the clients don't go through a deserving experience while using the service of this discount stock broker.
In a sense, the overall quality of customer service is below average.
My Value Trade Pricing
The pricing aspect of the discount broker includes a flat rate brokerage rate, transaction charges, taxes (GST), stamp duty etc. Users are advised to be very sure of the pricing levied from multiple aspects and understand these charges. Once pricing gets finalized, users must get it documented or get it emailed from the official email id of the broker.
My Value trade Account Opening Fees
"My Value Trade has pretty straight-forward brokerage plans at order level and monthly or yearly levels."
My Value trade Brokerage Plans
This discount stock broker offers two kinds of brokerage plans for the users to choose from depending on their preference.
- Per Order Level (like a generic discount broker)
- Fixed brokerage
At per executed order level, My Value Trade is one of the cheapest discount stockbrokers in India costing INR 10 per executed order. There is no extra flat fee or a monthly brokerage you need to pay as a trader.
Depending on the number of executed orders, you will be charged a flat price of INR 10 per executed order across all categories including Equity Delivery, Equity Intraday, Equity Futures, Equity Options, Currency Futures, Currency Options as well as Commodity.
For more information, Check this Complete My Value Trade Review