Stoxkart is discount broker & backed by SMC Global which is well-diversified financial service company in India & abroad. Stoxkart charge brokerage Rs.15 per order only when you earn profit. For Paisowala Reader, Stoxkart Offering free account opening.
Stoxkart is a discount brokerage firm. This stockbroker is part of SMC Global Stock Broker (founded in 1994) which is a well-diversified full-service broker India & abroad. They offer multiple products & services in trading & investment space.
SMC is a full-service broker as most people are opting for a discount broker nowadays. As a discount broker charges a low brokerage charge compared to a full-service broker. So, they launched their discount broker.
To beat the competition they come up with new concept pay brokerage only when you earn a profit. This is the first time in India any broker offering such brokerage. They also provide free mutual fund investment.
- First time in India Pay brokerage only when you earn profit.
- Award winning research services by SMC.
- Free Delivery- zero brokerage on delivery trade
- Rs. 15/- FLAT per Intraday order only when you earn profit
- Up to 25 times Exposure on Intraday
- Paperless Account Opening Process
- Free Mutual Fund Investment
- Stoxkart Pro application provides Robo-Advisory.
- Toll-free Number & dedicated support desk.
- Didn't have offline Presence
- Relatively new discount broker
|Segment Wise Broekerage|
Mobile App (Stoxkart Pro)
Stoxkart mobile application Stoxkart Pro is available on iOS and Android. In this review, we tested upon the android version mobile app as most of the people use to trade over android. We have tested 1.0 version which has a rating of 4.3 stars on Google Play store
We liked the price chart plotted with the event plotted. Another great feature is they embedded a tabular balance sheet & other financial data for each stock. It also allows us to track mutual fund holdings.
- Research-based recommendation
- Stock Market Scanner
- Guest Login Feature
- Thematic investments Feature
- Advanced Charting & Alert Feature
- Goal-based investment decisions
- Doesn’t Work Smoothly
- Login Features need Improvement
Stoxkart Pro app is user-friendly and well-designed. Overall this is a light-weight trading application to help you trade on ease.
Browser-Based (Stoxkart Pro Web)
Stoxkart Pro Web is a browser-based trading platform that provides all the necessary market-related information. In the dashboard, you can overview the market & your trades. You can get detailed Micro/Macro Scrip data for analysis. In the sidebar, you can access Research calls & trading ideas.
You can also set alerts or notifications. In the back-office, there is the section where you can access your detailed portfolio and fee reports.
Overall if you don’t have installed trading software on a computer or mobile. This browser-based platform can be used as trading with ease.
Desktop Trading Platform
When we tested the Stoxkart desktop-based trading platform we find it very similar to the NEST trading platform in design. This is very user-friendly & extremely customizable in function. You can place a Good variety of order types. On the other side, there is no two-step login feature. You can easily add, remove, change the size or change the position of the tabs. You will get this feature:
- Market screeners & analytics
- Real-time market updates
- Advanced charting facility
- Multiple short cut keys
- Portfolio tracker (Stock & Mutual Fund)
This trading platform is very helpful for those who are actively involved in the stock market & do frequent trading.
Those brokers who is charging hefty charges keep their brokerage very complex. Stoxkart has a very clear fee structure. We didn’t find any hidden charges. Even they charge one of the lowest brokerage charges in the stock market industry.
In review, we found Stoxkart new concept of pay brokerage only earns profit brokerage charges. We place an order in which we booked our position in loss. When we checked brokerage charges in Contract Notes in Email we didn’t charge for the sell order in which we booked a loss but we were charged for a buy order.
Which we found very beneficial for trading. In case, if your position goes on the wrong side your brokerage will not become a burden on your loss.
For profitable trade, we were charged for both leg (Buy/Sell ) Brokerage of 15 rupees per order.
Stoxkart levies following charges Charges & brokerage on Equity, F&O, Commodity & Currency:
|Equity Intraday||Rs. 15 per order|
|Equity Futures||Rs. 15 per order|
|Equity Options||Rs. 15 per order|
|Currency Futures||Rs. 15 per order|
|Currency Options||Rs. 15 per order|
|Commodity||Rs. 15 per order|
You have to pay ₹15/- FLAT per Intraday order only when you earn profit irrespective of order value & segment you trade. For Delivery trades, you don’t have to pay brokerage charges so delivery brokerage is also Zero. Along with that, we found that mutual fund investment is also free.
Demat Account Charges
Now we will discuss the Stoxkart Demat & Trading Account Related charges & annual maintenance fees and other details related to the Stoxkart account.
|Demat & Trading Account Opening: Free||Free|
|Commodity Account Opening Charges||Free|
|Account Maintenance Charges (AMC-Yearly)||₹300/-|
|Call & trade charges||₹20/- per order placed|
It means we need to pay annual maintenance charges of Rs.300 every year for the maintenance account with Stoxkart.
Stoxkart offer maximum 25X times margin over the funds available in their account. So, it’s means if you have ₹10,000 in your Stoxkart account then you can do intraday trading up to ₹2.80 lakhs. Margin offered by Stoxkart varies for different segments and script.
|Equity Intraday||Upto 25X|
|Currency Futures||Upto 3X|
|Commodity||Up to 6x|
The exposure given by Stoxkart is available only for intraday trades.
You can open an account in Stoxkart either Online or Offline method to start trading in the stock market.
- Online Account Opening (Through Aadhar)
- Offline Account Opening (Aadhar is not mandatory)
Stoxkart account opening Document
In both cases either online or offline Demat and trading account opening process, you need to keep these documents handy to open an account with Stoxkart.
- Pan Card
- Aadhar Card
- Last 3 month Bank Statement (For F&O Section) – Optional
- Scanned Signature
They are nowadays offering free demat & trading account.
In the Stoxkart website, there is a section of education under the support tab. But Right now, they have covered around 8-10 related to the stock market which is mainly related to stock market fundamental one-page content. So, the overall content is very thin & not satisfactory.
Product & Service
Stoxkart offers free mutual fund investment. You can invest in mutual funds through mobile apps or from browser-based platforms. Now they also started E-mandate service which automatically transfers SIP premium from your bank account. Stoxkart also provides mutual recommendations & portfolio health checkups.
Stoxkart is regulated by the SEBI. Its parent company, SMC Global is founded in 1994 which is also a full-service broker. So it’s is considered safe because it has a long track record.
Even this stockbroker could be a better option for you if you want a free advisory service. They will also try to keep a high success rate because if you will be not in profit they will not earn brokerage fees from you.
In terms of pricing, they charge one of the lowest brokerages. As there are no account opening charges, very low brokerage fees. Their trading platform is also good so feel free to try Stoxkart at once.