The intent behind penning this article is to provide Stoxkart Review to our valuable readers.
Stoxkart, a part of SMC Group, is a Delhi-based financial brokerage firm growing fast in India. It was launched in 2019, and it offers various trading platforms for trading at extremely competitive prices.
It also shares its market expertise with its clients to benefit them financially.
The broker is registered with SEBI (Securities and Exchange Board of India), NSE (National Stock Exchange), BSE (Bombay Stock Exchange), MCX (Multi Commodity).
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The brand, Stoxkart, still has a long way to cover in terms of positioning itself as a promising stockbroker. This journey will require providing value to the client irrespective of the brokerage plans or offers it looks to provide.
To begin with, let’s understand the quality of its trading platforms.
STOXKART TRADING PLATFORMS
Stoxkart offers different platforms to its clients to meet their specific needs from a trading platform. These platforms play a very significant role in the Stoxkart review. We will discuss all these applications with their respective features and risks associated.
You can decide which platform works best for your requirements.
This application is another mobile trading app from this discount broker that adds a lot of value to the Stoxkart review.
The only reason for more than one mobile trading app, in this case, is simple. Stoxkart pro was launched, keeping in mind the limitations of Stoxkart classic, i.e., it is suitable for beginner traders. Thus, the need for another app for expert-level traders was felt.
Well, let’s see whether their attempt has worked in their favor or not.
Here are some of its features:
A specific number of data points for a detailed market understanding.
Facility to trade in multiple financial segments.
A real-time feed from different indices is provided.
Multiple chart patterns available and cutting edge charting tools.
Market and historical data available.
‘Live Squak’ powers live news.
Option to trade in equity, stocks, currency, commodity, and derivatives.
One-touch order placement.
Provision to trade across different trading segments, including Equity, Derivatives, Currency, Commodity, etc.
This lightweight browser trading platform works best for those who need to do frequent trading. The main features have been discussed below :
Real-time market updates.
Regular notifications and alerts.
Shortcut keys for quick trading purposes.
Detailed scrip overview.
Mutual funds investments that can be done online.
Micro and macro data analysis.
Single hand navigation options for essential tabs.
Quick landing option.
Opportunity to choose a theme.
Continuous market watch.
This application is a custom version of Net-net lite and has been designed accordingly for Stoxkart clients. It is a lightweight application and can be used across different browsers where you do not need to download or install any software.
The platform suits beginner to intermediate level traders since it will not offer high-end features that expert-level traders might need. The better these platforms perform, the better the Stoxkart review is.
Here’s a sneak peek into this platform’s looks:
DESKTOP TRADING APPLICATION
This platform is quite user-friendly and can be accessed on desktops as well as laptops easily. The main features of this app are discussed below –
Real-time streaming quotes.
Advance chart facility.
Market screeners & advanced analytics.
Shortcut keys for quick trading purposes.
Mutual funds investments that can be done online.
Research and advisory support.
Thematic investments are enabled.
You are required to download and install this application for your trades. Furthermore, this application is platform-dependent and can only be used on a computer, laptop, or desktop.
The overall user-experience of this application is relatively average and has room for improvement. Still, it can be seen as a better trading application than the rest of this broker’s offerings.
STOXKART BACK OFFICE
Access to the back-office of the broker increases customer experience and satisfaction. This point contributes a lot to the Stoxkart review. Backoffice provides information like:
Access to easy fund transfer.
Customer support, and much more.
This screenshot is a peek a boo into the looks of Stoxkart back office:
Besides providing trading platforms for investing directly in the stock market, Facility for investing in mutual funds facility is available in Stoxkart Online. This facility for a new stockbroker adds a lot of value to the Stoxkart review.
Therefore, paperless transactions for investment in mutual funds can be done from the same trading platform.
One can also get recommendations based on one’s financial goals.
Some of the most expert investors also recommend investing your capital in different financial segments, and mutual funds are undoubtedly profitable investment products.
This offering by Stoxkart is undoubtedly an interesting one, and you are advised to check it out if it goes with your investment needs.
Annual Maintenance charges or AMC for the account – ₹300
Mutual Fund Investments are made for ₹0 fees.
Stamp duty charges are also levied as per government regulations.
Also, they claim that there are no hidden charges other than these.
One can trade in equity, futures and options, commodities, and currencies on the NSE, BSE, and MCX. Without discussing the brokerage charges, Stoxkart review would be incomplete.
Since Stoxkart is a discount broker, it charges a flat rate brokerage charge. In other words, irrespective of the trading turnover of your order, the brokerage charged is going to be a fixed amount.
Otherwise, India’s full-service stockbrokers charge a percentage-based brokerage, which goes high as your order value increases, thereby cutting into your profit.
For delivery based trades – Stoxkart provides the facility of zero brokerage on delivery trades.
Simultaneously, for intraday equity trading, ₹15 is charged for every intraday, derivatives, commodity, and currency transaction irrespective of the trade’s size but only if one earns a profit. This part is one of the best things about this broker.
One can also call and place orders at ₹20 per order.
Let us look at the detailed charges and other transaction costs involved with trading from Stoxkart.
Similarly, commodity options have the following charges mapped with it:
₹15 per every order that has been executed
0.05% on sell side
Transaction / Turnover Charges
18% of (Brokerage + Transaction Charges)
Depends on the State
Before entering any transaction, one must get a detailed view of all the charges and margin requirements that are going to be involved in the particular trades. These charges play an essential role in Stoxkart review.
The discount broker offers the following communication channels to serve its clients, and these add to improve the Stoxkart review. The channels available are:
Stoxkart customer care number
Multiple Email ID
With limited communication channels and overall average customer service, Stoxkart can certainly improve a lot when it comes to its resolutions’ turnaround time.
Furthermore, the support executive team can be trained better in market understanding and the broker’s different offerings.
Before we conclude this Stoxkart review, let us discuss various advantages of the stockbroker.
Brokerages – The brokerage charges charged by Stoxkart are one of the lowest in the industry. And an attractive feature about it is that brokerage is to be paid only when the trader earns a profit.
Research-Based Advice – Another essential feature of Stoxkart is that stock recommendations are given by different analysts based on their research. Robo advisory is available with the Stoxkart Pro app.
Real-Time Support – Stoxkart has an experienced and reliable team of professionals who can solve any account related queries and place trades for their clients.
Exposure on Intraday – Stoxkart offers a considerable margin per trade, making it one of the competitive stockbrokers when it comes to margin trading. This value is applicable across every intraday equity, currency, and commodity transaction.
Easy Account Opening Process – It is straightforward and convenient to open an account with Stoxkart.
Real-Time Support Team – A dedicated team of experienced individuals is always there to help a client with an account or trade-related query.
Simultaneously, a quick look at some of the risks or concerns associated with opening an account with Stoxkart is necessary for the Stoxkart review. The disadvantages are:
Relatively New in Market – Stoxkart is a relatively new broking platform compared to other well-established and reliable players.
Call and Trade facility is not Free – If any person needs to make multiple trades offline for any reason, he/she would be required to pay Rs. 20 per order, which can become a large amount with many transactions.
No IPO Facility – One cannot participate in an Initial public offering through Stoxkart.
Overall, Stoxkart is a good option for opening a trading account as its features and platforms are quite user-friendly as well as pocket-friendly.