My Value Trade Review 2020 – More Value at Low Cost

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My Value Trade Review 2020

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Being incorporated in 1985, MyValueTrade (MVT) pivoted towards the discount broking model in August 2014 offering flat fee brokerage plans along with unlimited monthly and yearly plans at very low rates.

The company was incorporated in 1985 with the name of Arora Financial Consultants Limited. In 1990, the company acquired the status of SEBI accredited Category-I Merchant Banker under the name MasterTrust Limited. Soon after its inception, the company became members of the leading stock exchanges of India including NSE, BSE, MCX, and NCDEX.

With its large client base of over 2.5 Lakhs, MVT has achieved an average turnover of ₹ 4500+ crore per day across all the segments. MVT provides online services for trading in Equity Delivery, Equity Intraday, Future and options, currency and commodities on NSE, BSE, NCDEX, and MCX. Along with this, MVT also offers its clients to trade in IPOs, Mutual funds, NCDs and bonds.

This My Value Trade Review 2020 will list in detail various features which include:

  • Single login for BackOffice, analytics, trading, Demat account reports, and funds pay-in/ payout services
  • Flexi Balance feature allows you to trade in all the segments using one amount offering hassle-free transfer across all the exchanges
  • MVT allows you to transfer funds with more than 45 major banks
  • It supports After Market Order and Cover orders with an option of Trailing Stop loss in both Equity, and Future and Options
  • MVT offers 33 times leverage or exposure for equity Intraday trading

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My Value Trade Trading Platforms

Here are the details of the trading platforms across Web, Mobile, and Desktop being offered by MyValueTrade:

MVT Trader - Desktop

This desktop-based trading application needs to be installed on your PC via an executable .exe file. Here are some of the features of this app:

  • Advanced charting with over 40+ indicators to help you make better decisions
  • Stay updated on your favorite stocks with their daily, weekly and monthly highs and lows.
  • Learn more about market sentiment by connecting your twitter feed via the application
  • View 4 business channels while working on the app.
  • Easily customize the platform as per your trading needs.
  • Stable platform with low latency for quicker order execution
  • You can place different order types like BO, CO, and AMO
MVT Trader Desktop
MVT Mobile App

Nowadays, Mobile trading apps have become very important for trading as they provide the user with access to the markets from the comfort of their smartphones. Here are some of the features of the app:

  • Efficient and easy-to-use app with various features like news alerts, order history, price alerts, top gainers and losers etc.
  • Advanced charting techniques to help traders with identifying patterns
  • Single ID and password for logging into all of MVT’s platforms
  • Market watch sync feature allows users to save their lists created on other platforms.

This app has not been received well with its users due to issues with performance, usability, etc. If you are looking for a good experience of trading on your mobile, it is better to look elsewhere.

MVT Mobile App
MVT Classic Web

A browser-based application that can be accessed by entering the URL in any browser and then giving your login credentials. Here are some of the features of this platform:

  • The single sign-in feature gives you accessibility to this platform using existing credentials with MVT.
  • You can trade in equities, commodities, and currency markets using this platform.
  • Get access to technical charts to help you make informed decisions while trading.

This platform is not known for providing a good user experience with the mobile version not being responsive and compromising user experience.

MVT Classic Web

MyValueTrade Pricing

Here is a detailed look at the account opening charges and brokerage plans being offered by MyValueTrade.

Account Opening and Maintenance Charges

In order to open an account with MyValueTrade you have to pay the below account opening and maintenance fees:

TransactionFee
Trading Account Opening Charges (One Time)₹555
Trading Annual Maintenance Charges AMC (Yearly Fee)Nil
Demat Account Opening Charges (One Time)Nil
Demat Account Annual Maintenance Charges AMC (Yearly Fee)₹400

MyValueTrade Brokerage Plans

MyValueTrade offers a brokerage of ₹20 per executed trade. Let us have a look at MyValueTrade’s brokerage plans:

Per Order Executed Trade Plan

Here are the details of the plan:

SegmentBrokerage Fee
Monthly Fee (Fixed) 
Equity Delivery₹20 per executed order
Equity Intraday₹20 per executed order
Equity Futures₹20 per executed order
Equity Options₹20 per executed order
Currency Futures₹20 per executed order
Currency Options₹20 per executed order
Commodity Futures₹20 per executed order

Brokerage per executed trade is beneficial when the trading volume is very big or several lots of the same contract are transacted in a single order. However, all traders are not big volume jobbers; neither do all clients always buy in lots of 10. Traders do trade with one lot of options or one lot of futures. In such cases, where trading volume is small or traded lot size is only one, low volume-based brokerage like 0.1% is more likely to bring profits for clients. However, MyValueTrade does not offer volume-based percentage brokerage.

Fixed Monthly Trade Plan

Here are some of the details of the plan:

SegmentBrokerage Fee
Fee (Fixed)₹1,000 per Month or ₹10,000 per year
Equity Delivery₹0
Equity Intraday₹0
Equity Futures₹0
Equity Options₹0
Currency Futures₹0
Currency Options₹0
Commodity Futures₹0

Some brokerages who offer rupees ten per executed order plan, also offer “per month unlimited trades at zero brokerage” against a pre-fixed brokerage amount per month. For high-frequency traders buying and selling within a very low price boundary, such unlimited trade plans are vital.

Transaction Charges

Here are the details of the transaction charges you need to pay for trading with MyValueTrade:

SegmentTransaction Fee
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.00300%
Equity Options0.00600%
Currency Futures0.00120%
Currency Options0.00420%
Commodity0.00250%

MyValueTrade Margin

MyValueTrade margin is attractive at 33x for intraday equity trade. However, we collected this information from other resources and other information like the F&O margin, currency margins could not be ascertained via the web or by phone. Here are the details:

SegmentMargin
IntradayUp to 33X
Equity FuturesUp to 2X for Intraday
Equity OptionsNo
Currency FuturesUp to 2X
Currency OptionsNo
CommoditiesUp to 2X

Brokerage Cost Calculator

For daytime traders, an online brokerage calculator is vital. When day traders buy or sell, they immediately set a target keeping the brokerage and other charges in mind. The brokerage calculator page should be devoid of any other data and concentrate on the profit at given brokerages including all statutory charges, at the target price.

The MVT brokerage calculator page instead stresses in comparison with other brokerages. Although it shows the profit comparison due to its brokerage compared to others, however, it does not show the display other statutory charges like transaction cost, turnover charges. THEREFORE, the viewer is left guessing his actual profit or loss.

One area where MyValueTrade prides on is providing the Algo trading capable Master Trader Version 3.0. While, this desktop application software is advantageous, where Algo trading is concerned, but other details are lacking. One does not know whether it is free for clients or chargeable.

Educational Material

This brokerage website lists a knowledge base. Blogs are listed on popular topics like financial planning, options trading, day trading China currency devaluation, etc. However, these blogs are only available to registered viewers. The blogs themselves do not offer anything new and are mostly rewritten ones. However, taking a leaf from other brokerages MVT would well do to make these blogs freely readable. Such gesture brings the to-be clients and brokers, closer.

If you are interested in learning more about the basics of investing, kindly check out our knowledge series.

MyValueTrade Customer Support

Online and by-phone customer support is the most vital link between the client and the broker. Discount brokers do not have an offline presence and the only contact point is customer support. Sadly, we found no customer support response via phone.

The phone call ended with a curt message informing us that “we will be contacted when customer support is free”. MyValueTrade should definitely think about providing better client support services on phone.

MyValueTrade social media response

Master Trader lists via twitter and other social media integration as one of its exciting features. However, Myvaluetrade does not seem to be active in social media itself. Prompt assurances and communication on social media play a great role in smoothing frayed nerves during fund-in fund-out or order execution failures.

Trading server breakdowns are common. At that time, prompt assurance message from broking house in social media soothes the investor’s frayed nerves largely. Since 2016, MyValueTrade has not posted significantly on social media platforms.

Consumer Complaint Report

Actions speak louder than words. Many discount brokers boast of impressive websites but reality may be different. Having the latest responsive website may not result in an active clientele base. Here MyValueTrade performs better. It boasts of a good number of active client base in NSE, which is at par and better than many discount peers.

Here are the details of the report:

ExchangeFinancial YearNumber of ClientsTotal Complaints
NSE2019-2035,6435
NSE2018-1941,71017
NSE2017-1845,75724
NSE2016-1734,62332
NSE2015-1632,00319
NSE2014-1534,16127
NSE2013-1428,59622

To access the complete list of complaints registered against brokers with NSE, just click on this link

Conclusion

This assures that although MyValueTrade may not be among the best discount brokers who maintain a flawless online presence, it does have that operational capability to service its pan-India 39,790 clients at just .04 per-cent investor complaints till august 2018-19.

Also, it seems that their trading platforms need an upgrade as their performance hasn’t been up to the mark with many customers complaining about usability issues.

Improving the above-mentioned areas would lead to adding another substantial number of clients and make it truly one of the most popular discount brokers in India.

My Value Trade Review 2020

Best Broker India

Customer Service
Web Trading Platform
Mobile Trading Platform
Educational Material
Brokerage

Summary

2.6

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