Stoxkart - Safe, Reliable & Trustworthy Broker

Stoxkart is a safe and reliable online discount stock broker in India. The company is part of SMC Global, a reputed a diversified financial services company in India. It has a low client to complaint ratio, no major regulatory violations and follows a simple brokerage model.

Stoxkart is a SEBI registered broker and depository participant of CDSL. It is a member of BSE, NSE, and MCX. The transactions of the company are regularly monitored by SEBI and stock exchanges. There is no major violation reported for the company till now.

Stoxkart offers trading and investment services across equity, commodity, currency, derivatives, IPOs and mutual funds. The company offers its services online.

Key Facts About Stoxkart

The following are key facts you should know about Stoxkart.

• Part of SMC Global, a financial service provider since 1990.
• Online discount broker offering flat-fee brokerage plans.
• Offers good online trading platforms.
• Charges zero brokerage on delivery trades,
• Charge Rs 15 per trade for intraday (only when you make a profit).
• Charge Rs 15 per trade for F&O in Equity, Currency and Commodity.
• Brokerage free online mutual fund investment platform.
• Offers services to NRIs.

Why is Stoxkart safer than other brokers?

1. Reputed Parent Company

   Stoxkart is part of SMC, a reputed financial services company. SMC has been in the business of investment banking, wealth management, distribution of 3rd party financial products, depository services, insurance broking (life & non-life) etc., since 1990. A strong parent company provides strong financial support and leadership experience to stoxkart.

2. Simple Pricing Model

   Stoxkart offers a discount brokerage plan wherein it charges a flat Rs 15 per trade across all the segments and exchanges. This plan is easy to understand with no scope for hidden costs. It only charges brokerage on those intraday trades where a customer makes a profit. This brokerage facility will help the company attract intraday traders.

3. No client securities in the pooled account

   Stoxkart doesn't keep customer's securities in its own pooled account. Every company needs to compulsory open a demat account with the company and all the securities bought by a customer are instantly credited in his/her demat account on settlement.

4. Lower Complaints to Active Clients Ratio

   Stoxkart's ratio of complaints to active clients is lower in comparison to other stock brokers.

Stoxkart Risks

While Stoxkart is a safe broker, there are few areas of concern you should aware of:

1. Not Much Information Available in Public Domain

   Stoxkart is a private limited company. Its parent company SMC is also a private limited company. There's not much financial information available about Stoxkart and SMC in the public domain.

2. Not Much Business Experience in Discount Brokerage

   Stoxkart started as an online discount brokerage arm of SMC in 2019. While the parent company has 30+ years of experience as a traditional broker, they are relatively new to online discount trading. The online ultra-low-cost trading is extremely thin in profitability. It works well only when you have a large customer base.

Stoxkart Memberships

Stoxkart is registered with SEBI and is a member of leading stock exchanges like NSE, BSE, and MCX. Stoxkart is also a DP (Depository Participant) with CDSL and a registered mutual fund distributor.

Stoxkart's various membership details are as follows:

• Stoxkart Broking Ltd: SEBI Registration no: INZ000196835
• CDSL: IN-DP-CDSL-120191
• NSE Member Id: 90161
• BSE Member Id: 6690
• MCX Member Id: 56325
• Mutual Funds Distributor ARN No. 156808

Conclusion

Stoxkart is a safe and reliable discount stock broker in India. The company offers good trading software. It offers an attractive brokerage plan. And, is part of a reputed financial group with over 3 decades of industry experience.

Must Read:

• 10 Steps to safeguard trading and Demat account

Frequently Asked Questions

Stoxkart Competitors Review

Information on this page was last updated on Thursday, March 23, 2023