Master Trust is an equity and commodity broker (full-service broker) based out of Ludhiana. It was founded in the year 1994. Its original name at the time was Master Capital Services Ltd. Master Trust also has a discount broking arm by the name of My Value Trade.
Dedicated commodity trading is provided by Master Trust’s commodity arm known as Master Commodity Services Ltd. Master Trust also has its own DP service. It is registered with NCDEX and MCX.
Master Trust offers services in the areas of equity, commodities, mutual funds, ETFs, IPO placements, currency trading, PMS investing, insurance, Demat account, trading account, margin trading, financial planning, loan against shares, and depository services.
The company Master Trust has grown quite significantly since its early days. It has more than 650 employees today and over 500 physical branches across India. Many of these branches are franchise locations. Master Trust is estimated to have had over 1.5 lakh clients since its operations began.
Fee Structure – 4/5
Customer Service – 3.5/5
Usability – 3.5/5
Variety of Offerings – 4/5
OVERALL – 3.7/5
Master Trade offers a range of trading platforms that allow investors to trade on a computer, via a web browser, or through a mobile phone. Some of those platforms are third-party software packages, while some are completely made in-house.
OMNESYS NEST is a desktop platform that Master Trust provides its clients for seamless trading experience. This platform offers live market data and a live stream of quotes in real-time. The trading platform can also be set up to offer timely recommendations on stocks via pop-up windows.
Technical analysts will appreciate the chart-analysis tools, real-time advanced charts, and 45 different types of indicators used to make trading decisions. Users can also follow the day’s top gainers and losers, highlight market movers, and easily access volume-price data.
Portfolio monitoring is also quite simple on this platform. OMNESYS NEST allows investors to make payments via multiple channels including online transfer.
Master Trader is Master Trust’s own in-house trading platform. It has been developed by Master Trust and the company also manages the maintenance and backend operations for running the platform.
The most unique feature of Maser Trader is its algorithmic trading service. Investors can automate their strategies via algorithms. There is quite a bit of customization that can also be done to optimize trading strategies.
The Master Trader platform is very accessible as it can be operated on a laptop, a tablet, or a mobile phone. One can put in place multiple trading strategies on Master Trader and then monitor the parameters of those strategies quite conveniently via the platform.
No programming knowledge is needed to automate trading on this platform. The whole experience is quite user-friendly. Master Trader can be integrated with the AmiBroker application.
Master Trust Web Trade
Master Trust offers clients a web-based trading platform that can be accessed via a web browser. One simply needs to log in and start investing. Master Trust Web Trade is an integrated platform that combines trading, back-office features, and DP into one single location.
Web Trade’s comprehensive market watch feature tracks various exchanges such as the NSE, the BSE, MFSS, F&O, and Commodities indices. Users can also use multiple hotkeys to execute actions instantly. These hotkeys are similar to the ones that you see in a typical broker terminal.
Users can also set up email alerts using Web Trade. There are also a bunch of tools and calculators that can be used for making investment decisions. Web Trader allows funds to transfer online from a list of approved banks.
Master Trust Mobile App
Master Trust has not only developed a web-based platform, but they also have a mobile-based trading platform. The mobile app is compatible with Android and iOS.
The app is not very large in file size either. You only need to download about 22 MB of data. The app has reasonable reviews as well. It gets over 3.5 stars on Google Play Store.
The Master Trust Mobile App has a smooth user interface. It also offers company news and real-time market data. Users can monitor their existing positions as well as place orders for new ones. The mobile app allows users to trade on-the-go. It has a decent dual security feature as well which prevents any accidental trades.
Account opening charges
Master Trust charges Rs.555 for opening a trading account. There are no charges for opening a Demat account. Master Trust does not charge any annual maintenance charges for the trading account. For the Demat account, Master Trust charges Rs.300 per year as annual maintenance charges.
Master Trust is a full-service broker. It is, however, known to provide some of the lowest brokerage charges among its peers. The following are the brokerage charges for various services that Master Trust offers:
|Equity Intraday||0.01% of turnover|
|Equity Delivery||0.1% of turnover|
|Equity Futures||0.01% of turnover|
|Equity Options||Rs.10 per lot|
|Currency Futures||0.005% of turnover|
|Currency Options||Rs.5 per lot|
|Commodity||0.007% of turnover|
Apart from account opening charges and brokerage charges, Master Trust users also have to pay certain transaction turnover charges as listed below:
|Equity Delivery||Rs.325 per crore|
|Equity Intraday||Rs.325 per crore|
|Equity Futures||Rs.190 per crore|
|Equity Options||Rs.5000 per crore|
|Currency Futures||Rs.110 per crore|
|Currency Options||Rs.4000 per crore|
|Commodity MCX|| Non Agri: Rs.260 per crore |
Agri: Rs.175 per crore
In addition to the brokerage charges, government charges and transaction charges are also applicable. They are listed below:
|STT||GST||SEBI Charges||Stamp Duty|
|Equity Intraday||0.025% on Sell Side||18% on Brokerage + Transaction charges||Rs.15 per crore||As per user’s state|
|Equity Delivery||0.01% on both Buy and Sell||18% on Brokerage + Transaction charges||Rs.15 per crore||As per user’s state|
|Equity Futures||0.01% on Sell Side||18% on Brokerage + Transaction charges||Rs.15 per crore||As per user’s state|
|Equity Options||0.017% on Sell Side||18% on Brokerage + Transaction charges||Rs.15 per crore||As per user’s state|
|Currency Futures||No Charge||18% on Brokerage + Transaction charges||Rs.15 per crore||As per user’s state|
|Currency Options||No charge||18% on Brokerage + Transaction charges||Rs.15 per crore||As per user’s state|
|Commodity||0.01% on Sell Side||18% on Brokerage + Transaction charges||Rs.15 per crore||As per user’s state|
Master Trust offers margin trading accounts. Only experienced investors should think about trading on margin. Margin is like borrowing money from the broker at high interest rates. Only sophisticated investors truly understand the risks behind margin trading.
The following are the margin exposure levels for various segments:
Opening an account with Master Trust
In order to open an account with Master Trust, you have to first go to the company’s website and download the application form. You can fill out this form online or you can hand-fill it. You can also collect the application form at any of Master Trust’s physical branches across India.
Next, you have to fill out the form, which will ask for basic contact information and things like name, address, bank account info, etc. Make sure that the information you fill matches the information on your bank account.
Along with your application form, you will also have to submit some KYC documents. Basic identification documents along with a photograph should suffice.
Once all your information and documents are received, Master Trust will process your application and perform the KYC. The entire process should take about 48 hours. After 2 days, your trading and/or Demat account should be opened and ready for use.
After your account has been opened, Master Trust will send you a welcome kit or an account opening kit which will have useful information about how to log in to the Master Trust portal and begin trading.
Pros and Cons of Master Trust
Master Trust offers reasonably well-rounded trading and investment solutions to anyone who is interested in investing in the stock, commodity, and futures markets. There is plenty to like about Master Trust’s offerings. However, there are some minus points as well.
- In spite of being a full-service brokerage, the charges and fees that Master Trust offers are lower than popular peers like Sharekhan and ICICI Direct.
- Master Trust offers a range of trading platforms that work over desktop, laptop, web browsers, and mobile phones.
- Master Trust has an Algo trading platform, which indicates that the company is serious about keeping up with technology and adopting new trading methods.
- The company also has a discount brokerage arm under a different company. So, customers can choose to open accounts on either platform or hold accounts in both as a strategy.
- Master Trust is more than just an average broker as it offers streamlined portfolio management services as well.
- Master Trust has more physical branches than most discount and full-service brokerages.
- Fund transfers are slow. Account opening also takes longer than 24 hours.
- The account opening is not free. Trading accounts are charged opening fees.
- Demat account AMC is not free. One has to pay the AMC fee each year.
- Research offerings are not very extensive. We did not find any tie-up with research houses either.
- There is no brokerage or margin calculator which can help clients plan the expenses for trading.
- There is no remote technical support.
Master Trust offers a pretty good range of products and services. It is a full-service broker and so it will have decent customer service for its investor clients. However, in spite of being a full-service brokerage, we found very little information about its research and reports offerings.
However, the brokerage charges and other fees for Master Trust are among some of the lowest when we talk about full-service brokerages. Companies like ICICI Direct and Sharekhan have higher charges in many cases.
Master Trust also has a unique advantage of having a large number (over 500) of physical branches across India. For investors who like to have a face-to-face conversation rather than doing everything online, the physical presence is a major benefit.
Overall, we believe that Master Trust is a decent option for full-service brokerage. It does not have the kind of brand name or fancy offerings that some of its well-known peers offer, but it offers almost everything that investors would want and at a good price.