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Why I don't recommend Stoxkart to anyone.

Fund Transfer via UPI.
This is not instant nor automatic. You have to write to the customer support everytime to get the funds updated. However fund transfer through payment gateway is instant and automatic. But it comes with a charge of INR9 per transaction (Plus GST) while UPI transfer is free. So for having funds updated automatically, you need to spend Rs.9 plus GST extra as payment gateway charges.


NON POA Stocks
When you authorise NON POA Stocks using CDSL TPIN, it takes Stoxkart 24 hours (1 working day), before you can sell the shares. So if you want to sell the shares instantly you will have a tough time especially if you have not given POA.

Normally any stock that you purchase goes into your DEMAT
account held at CDSL after T+2 days. But in case of StoxKart it takes them T+5 days to transfer shares from the broker POOL account to Demat account held at CDSL which I consider as illegal. Basically they make your life miserable that you will be forced to issue a POA in their favour.


Margin:
They don't have a margin calculator that works and there is no way to know about the Margin requirements on Stoxkart site. They tell you to download an Excel file from their site which is not updated regularly. So you end up getting wrong margin requirements. When you place order based on margin requirement mentioned in the Excel, the order gets rejected. The only way to know correct margin requirement for a stock, you have to visit Margin Calculator available on NSE…or use Margin Calculator available at other brokers like ZeroDHA, Upstox, Angel Broking etc.


20% amount blocked on sale of shares as per new SEBI rule for a period of T+2 days. They block the amount for much longer than that. I had to write to them to get that amount reversed. I have not seen any other broker block 20% sale amount from the stocks sold. I have shares in my possession and I have sold shares from my Demat account. The broker can easily take those shares out of my Demat account as I have authorised the transfer of shares. So why should they not release all my money after T+2 days. Why keep 20% even after the shares have been delivered to buyer?


Very weak technical team which is not able to quickly make changes enforced by SEBI. Lot of functionality is broken. Most of the things are not automatic and you have to call their customer support to update the thing that was supposed to get updated automatically. EG: Payment update via UPI, Transfer of Shares to CDSL Demat account, Authorising shares in fovour of the broker so that the shares can be sold via the broker etc. etc.

There are so many more reasons for me to close my account with Stoxkart which I don't have to time to explain. But I think you are better OFF with other players like ZeroDHA, Upstox, Angel Broking, FYERS, Prostocks, Groww etc.