STOXKART – Stocks & Demat a/c

Stoxkart, founded in 2019, is a Delhi-based online discount broker offering investment and trading services in equity, products, currency, derivatives, IPOs, and mutual funds. It is part of SMC Global Limited, India’s leading diversified financial services company and full-service stockbroker. Stoxkart has ratings of 4.3/5 with 335 reviews along with that, the app has more than 100k downloads. Stoxkart is a SEBI-registered stockbroker with memberships in NSE, BSE, and MCX. It offers customer education on a variety of trading and investment topics via an online Learning Centre.

Stoxkart has some of the lowest brokerage fees in the marketplace. It provides brokerage-free equity delivery trades and charges a flat Rs 15 per executed order on intraday equity trades only if you profit from the trade. For all other segments, it charges a flat Rs 15 per executed order. Stoxkart offers up to 25 times exposure on intraday trades in equity, currency, and commodities. This is one of the highest profits offered by a discount broker. Stoxkart offers a variety of online trading software. Stoxkart Classic (mobile trading app), ProWeb (browser trading platform), and a desktop trading application are all available from the company. Stoxkart additionally offers ‘StoxMF’, a dedicated online platform for mutual fund investments.

Features of Stoxkart

Pros of Stoxkart.

• Brokerage-free Equity Delivery trades and mutual funds
• Low-cost stock broker. Intraday and F&O orders are charged a flat rate of Rs 15 per executed order.
• There is no brokerage on intraday loss trades. Pay the Rs 15 brokerage fee only if you make a profit.
• Advanced trading platforms with web, mobile, and desktop versions.
• Online Learning Centre for Investor Education.
• Refer a friend and earn a Rs 500 Amazon voucher.
• You can apply for new IPOs through your Stoxkart account.

Cons of Stoxkart

• Does not offer research reports, stock tips, or recommendations.
• Call and Trade is available for an additional fee of Rs 20 per executed order.
• Intraday positions squared off by the broker are charged an additional Rs 20 per order.
• Does not provide branch services or relationship managers.
• Lack of customer support responsiveness, with some users mentioning difficulties in contacting support or receiving timely assistance.
• Issues with transparency and data accuracy, such as P&L not updating correctly even after closing multiple positions, and past reports showing no data.

Stoxkart Account Opening Charges

Stoxkart Brokerage Charges
Stoxkart uses a flat rate per trade brokerage model. It charges Rs 15 for each executed order in intraday and F&O trading. It charges no brokerage for equity delivery. On intraday trades, it only charges a brokerage fee if the customer profits from the transaction. The maximum brokerage charge for each executed order is Rs 15.

Other Charges (Stoxkart Hidden Fees)

The Call & Trade facility is available for an additional charge of Rs 20 per call.
Stoxkart charges an additional Rs 20 per order to square intraday positions.
Even if you trade without brokerage, you must pay STT, Transaction Charges, Clearing Charges, GST, and SEBI Charges.

Stoxkart’s Online Account Opening
Stoxkart allows you to open an online account in just 15 minutes. This paperless account opening requires your Aadhar number, which is linked to your current phone number. For others, a PDF form is available for download and printing. Steps for Opening a Stoxkart Account Online.

• Visit the Stoxkart website.
• Click the ‘Open an Account’ link in the top navigation bar.
• Enter and verify your mobile number and email address.
• Enter your Aadhaar and PAN numbers.
• Use OTP to verify Aadhar.
• Confirm your details.
• Submit the account opening application form.

Stoxkart Margin Exposure.
Stoxkart’s margin for intraday trading is up to 20% of trade value (max 5x leverage), depending on the stock. Stoxkart F&O’s intraday trading margin is 1.3x for equity, currency, and commodity trading on the BSE, NSE, and MCX. Stoxkart F&O carry forward positions and equity delivery trades do not attract any additional margin.

Potential Risks

• Lack of Research and Recommendations:

Stoxkart does not provide research reports, stock tips, or recommendations, which may pose challenges for traders who rely on such insights for decision-making. This lack of guidance could increase the risk of making uninformed investment choices.

• Additional Charges for Call and Trade:

The Call & Trade facility is available at an extra charge of Rs 20 per call. This can add up to significant costs for traders who frequently use this service, impacting their overall profitability.

• Intraday Position Squaring Off Charges:

Stoxkart charges an additional Rs 20 per order to square off intraday positions. This fee can eat into profits, especially for traders who engage in frequent intraday trading and rely on quick exits.

• Limited Customer Support and Services:

Some users have reported difficulties in contacting customer support or receiving timely assistance. The lack of branch services or dedicated relationship managers may hinder resolution of issues or queries, potentially affecting the overall trading experience.

• Technical and Performance Issues:

Users have highlighted technical issues such as freezing, login difficulties, and improper functioning of price charts. These technical glitches can disrupt trading activities and lead to missed opportunities or erroneous trades.

• Hidden Fees and Charges:

While Stoxkart offers low brokerage fees, traders should be aware of other charges such as STT, Transaction Charges, Clearing Charges, GST, and SEBI Charges, which are applicable even for trades without brokerage.

• Margin Exposure Risks:

Although Stoxkart provides margin exposure for intraday trading and F&O segments, excessive leverage can magnify losses if trades move against expectations. Traders should exercise caution and manage their leverage levels prudently to avoid overexposure.

Conclusion

Stoxkart, being a part of the reputable SMC Global Limited and registered with SEBI, offers a range of investment and trading services at competitive rates, making it appealing to cost-conscious traders. Its brokerage-free equities delivery trades, cheap flat-rate brokerage costs for other segments, and margin exposure choices may be beneficial to traders seeking affordability and leverage. Furthermore, Stoxkart offers numerous trading platforms, an online Learning Centre for investor education, and simple online account creation. These features improve the ease and accessibility of users. As a result, while Stoxkart can be a secure and cost-effective option for experienced traders who value low-cost trading and are capable of completing their own research and analysis, it may not be appropriate for beginners or those who require considerable help and coaching throughout their trading journey. Traders should carefully consider their needs, risk tolerance, and trading tactics before deciding on Stoxkart or other brokerage platform.