Stoxkart Review

Category: Reviews | Author: Trading Brokers | Date: October 11, 2023

Step into the world of Stoxkart, an online brokerage that emerged on the scene in 2019. Here, you won’t find your typical suit-and-tie approach. Stoxkart is all about accessible, transparent, and cost-effective trading. Regulated by the Securities and Exchange Board of India (SEBI), this platform offers a variety of tools, educational resources, markets to explore, and account types, catering to traders of all levels and preferences. If you’re looking for a brokerage that combines low costs, high leverage, and speedy execution, Stoxkart might just be your ticket to the trading world.

Pros & Cons

  • Offers high leverage and fast execution for intraday and delivery trades
  • Offers advanced features such as algorithmic trading, API connectivity, and backtesting capabilities
  • Regulated by SEBI, a reputable and independent authority that oversees the securities market in India
  • User-friendly trading platforms Free mutual fund investment
  • Provides low-cost and transparent brokerage services with flat commission rates and no spreads
  • No research reports or stock tips
  • Call & Trade at an additional fee
  • Has a minimum deposit requirement of Rs. 500 for individual accounts and higher for other account types
  • Has a relatively short track record as it was established in 2019

Summary 

Stoxkart Review

Stoxkart Review

Founded in 2019 and regulated by the Securities and Exchange Board of India (SEBI), Stoxkart offers a trusted and diverse platform for traders of all levels. The broker’s aim to provide low-cost and transparent brokerage services ensures a convenient trading experience. With multiple funding options, efficient withdrawal processing, and a strong emphasis on education, traders can enhance their knowledge and skills.

The web-based, desktop-based, and mobile-based platforms provide stability and swift execution. Stoxkart also stands out for offering flat commission rates and no spreads across a variety of trading instruments, including equity, derivatives, currency, and commodity futures. Additionally, the high leverage and advanced features such as algorithmic trading, API connectivity, and backtesting capabilities add an exciting dimension. Our review highlights Stoxkart’s features and benefits for traders who are looking for a low-cost and transparent broker to trade with. However, as always, understanding the associated risks is crucial.

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AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Exploring the background of Stoxkart, it emerges as a product of SMC Global Securities Ltd., a company based in New Delhi, India, under the registration number L74899DL1994PLC063609. This company is strictly regulated by the Securities and Exchange Board of India (SEBI), holding the registration number INZ000206739. This affiliation with SEBI holds significance, as this distinguished regulatory body oversees and enforces the securities market regulations in India.

The vital role of SEBI in protecting customer interests, ensuring fair market practices, and promoting financial stability within India’s securities market is evident. The manifold advantages of trading with a SEBI-regulated entity are highlighted: safeguarding client funds through segregation from the broker’s funds, a protective cover for client funds up to Rs. 25 lakhs in cases of broker default, stringent compliance, and transparency checks through regular audits, ethical conduct enforcement, and a robust mechanism for resolving complaints and disputes.

Stoxkart is also registered as a Trading Member of the National Stock Exchange of India Limited (NSE), Bombay Stock Exchange Limited (BSE), and Metropolitan Stock Exchange of India Limited (MSEI). These are the leading stock exchanges in India that offer trading in various segments such as equity, derivatives, currency, and commodity futures. Stoxkart also holds membership with Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NSDL). These are the two depositories in India that provide dematerialization and electronic transfer of securities. But if you’re on the lookout for similarly regulated brokers, we’ve got your back. Check out our curated list of reputable alternatives that offer the same peace of mind.

Platforms & Tools

Stoxkart offers three trading platforms – Stoxkart Pro, Stoxkart Elite, and Stoxkart Mobile App. These platforms are designed to cater to traders of various levels and preferences. They offer features such as real-time data, customizable watchlists, technical charts, and advanced order types.

  • Stoxkart Pro is a web-based platform that can be accessed from any browser without any installation. It provides a simple and intuitive interface for trading in equity, derivatives, currency, and commodity futures. It also has a built-in chat feature for customer support.
Stoxkart Pro

Stoxkart Pro

  • Stoxkart Elite is a desktop-based platform that can be downloaded and installed on Windows or Mac computers. It offers advanced features such as algorithmic trading, API connectivity, and backtesting capabilities. It also includes real-time news updates and analytical tools.
Stoxkart Elite

Stoxkart Elite

  • Stoxkart Mobile Trading App allows users to trade on the go using their smartphones. It is compatible with Android and iOS devices. It offers features such as live market data, customizable watchlists, alerts, and notifications.
Stoxkart Mobile Trading Application

Stoxkart Mobile Trading Application

Beyond these platforms, Stoxkart enhances the trading experience with a suite of valuable tools and resources, including:

  • Stoxkart Auto Trender: It is a tool that helps you identify trends in the market and make informed investment decisions.
  • Stoxkart Mutual Funds: Stoxkart assists you in making your investment portfolio complete by investing in the best Mutual Funds online that are most suitable for your financial goals
  • Stoxkart Telegram Subscription: It is a subscription service that provides you with the latest market updates and trading tips on Telegram.
  • Stoxkart TechnoFunda: It is a tool that combines technical analysis with fundamental analysis to help you make better investment decisions.

Education

Stoxkart’s commitment to empowering traders extends to its comprehensive education segment, an invaluable resource aimed at nurturing clients’ trading acumen and confidence. Stoxkart offers various educational resources to help traders and investors make informed decisions. These resources include:

  • Learning Center: Stoxkart’s Learning Center provides a range of educational resources to help traders and investors learn about trading accounts, online trading, and the difference between online and offline trade.
  • Help Center: Stoxkart’s Help Center provides a range of resources to help traders and investors, including investor education materials and risk disclosures.
  • Download Forms: Stoxkart provides various forms in PDF format for account opening and modification.
  • Important Links: Stoxkart’s Important Links section includes resources such as investor complaints data, investor charter for DP, investor charter stock broker Stoxkart, and client bank information.
  • Blogs: Stoxkart publishes blog posts on market insights, trading tips, product updates, and company announcements. These blog posts are informative and engaging and can help traders stay updated on the latest developments in the market.

These resources cover a variety of topics and are easily accessible on the Stoxkart website.

Markets

Stoxkart opens up a world of trading and investing possibilities. You can dive into the Indian stock exchanges, including NSE and BSE, for equity trading, complete your portfolio with the best Mutual Funds, venture into international markets like NYSE and NASDAQ, dabble in currency trading with pairs like USD/INR, EUR/INR, and GBP/INR, and even explore commodities like gold, silver, crude oil, and natural gas. It’s a one-stop shop for traders and investors, and you can access all these markets easily through Stoxkart’s user-friendly platforms.

Accounts

Stoxkart offers different types of trading accounts for traders who want to trade various securities and derivatives in the Indian market.

  • Demat Account: A dematerialized account is required to hold shares in electronic format. Stoxkart offers a Demat account with a low annual maintenance charge of Rs. 300. Clients can open a Demat account separately or along with a trading account.
  • Trading Account: A trading account is necessary to buy and sell securities in the Indian stock market. Stoxkart offers a trading account with a low brokerage fee of flat Rs. 20 per trade for intra-day and F&O. Clients can open a trading account separately or along with a demat account.
  • HUF Account: Hindu Undivided Families (HUFs) can open this type of account to trade in the Indian stock market. It requires a minimum deposit of Rs. 1000 and offers benefits like brokerage-free equity delivery trading, and flat Rs. 20 per trade for intra-day and F&O, and access to multiple trading platforms.
  • NRI Account: Non-resident Indians (NRIs) can open this type of account to trade in the Indian stock market. It requires a minimum deposit of Rs. 1000 and offers benefits like brokerage-free equity delivery trading, and flat Rs. 20 per trade for intra-day and F&O, and access to multiple trading platforms. NRIs must provide their PAN card, passport, and other KYC documents to open this account.

Funding

Stoxkart offers a variety of payment methods for funding trading accounts and withdrawing profits:

  • Online Transfer: This is the most convenient and preferred method for deposits and withdrawals. It allows users to transfer funds directly from their bank account to their trading account using NEFT, RTGS, or IMPS. The minimum deposit and withdrawal amounts are Rs. 500 and Rs. 1000, respectively. Deposits and withdrawals via online transfer are free of charge.
  • UPI: This is another easy and fast method for deposits and withdrawals. It allows users to transfer funds using their UPI ID or QR code. The minimum deposit and withdrawal amounts are Rs. 500 and Rs. 1000, respectively. Deposits and withdrawals via UPI are free of charge.
  • Cheque: This is a traditional method for deposits and withdrawals. It requires users to issue a cheque in favor of SMC Global Securities Ltd. and send it to the Stoxkart office address. The minimum deposit and withdrawal amounts are Rs. 5000 and Rs. 1000, respectively. Deposits and withdrawals via cheque may take longer to process and may incur charges depending on the bank.

Conclusion

To conclude, Stoxkart is an online broker that offers a variety of trading platforms, tools, education, markets, and account types for traders of different levels and preferences. It aims to provide low-cost and transparent brokerage services, as well as high leverage and fast execution. It is regulated by the Securities and Exchange Board of India (SEBI) and is a member of various exchanges and depositories in India. However, it is also important to note that Stoxkart is not the only broker that offers these features, and there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

Stoxkart Logo

Rs. 500

Stoxkart is an online broker that was founded in 2019 and is regulated by the Securities and Exchange Board of India (SEBI). It is a part of SMC Global, a well-diversified financial services company in India and abroad.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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