Stoxkart Review

Stoxkart is an online discount broker which is part of SMC Global, a reputed and diversified financial services company in India. Stoxkart is a SEBI registered broker, a depository participant of CDSL and is a member of BSE, NSE, and MCX. The transactions of the Stoxkart are regularly monitored by SEBI and stock exchanges. 

It has no major regulatory violations reported till now. Hence, it would be safe to say that Stoxkart is safe and reliable for investing.

Opening a trading/demat account with stoxkart can be done through both online as well as offline. However, the online way is the most preferred as it is quick and hasslefree.

Online Account Opening Process:

1. Visit Stoxkart’s official website and go to the Demat account opening page. 

2. You will be asked to enter your email id and phone number. After entering the details, click on the Open Account option.

3. After this, enter the basic information and click on ‘Signup’.

4. Keep the scanned copies of the essential documents ready.

5. To know more about online account opening process click here.

Offline account opening process:

1. Go to the Stoxkart website and download the Stoxkart demat account opening form. You can also visit any of your nearest Stoxkart branches to get the form. 

2. Fill all the required details in the form and attach the required documents.

3. Next, you will be required to sign an agreement with your broker which would state your responsibilities as a trader. Make sure you keep this document safe in case it is needed later on. 

4. After completing all the above steps, send the account opening form and the relevant documents to the registered office of Stoxkart.

Stoxkart charges zero brokerage for equity delivery trading. For other segments, it charges a flat Rs. 15 on per order executed. On intraday trades, Stoxkart charges a brokerage fee of Rs. 15 per order only when a customer earns profit from the trade. No brokerage is charged on intraday trades where customers lose money. Additionally, Stoxkart also charges other charges like transaction fees, clearing charges, SEBI charges, etc., which depend upon the product segment you are trading in and your transaction value.

For account opening, Stoxkart charges an annual amount of Rs 500 across all segments. Stoxkart also charges Rs. 300 per annum as annual maintenance charge (AMC) that has to be paid annually irrespective of the uses of the Demat account.

On intraday trades, Stoxkart brokerage charges a fee of Rs. 15 per order only when a customer earns profit from the trade. No brokerage is charged on equity intraday trades where customers lose money.

Stoxkart allows its customers to apply for IPOs online through 2 ways:

• Stoxkart IPO application (UPI based)

• ASBA using the net-banking facility.

Steps to apply IPO in Stoxkart using UPI

1. Login to your Stoxkart account on the website/app/desktop software

2. Go to the 'IPO' section.

3. Select the desired IPO from the list

4. Enter your UPI ID.

5. Enter bid details like price, quantity, etc.

6. Click on ‘Submit’.

7. Approve the Payment request on your UPI app.

Stoxkart customers can also apply in an IPO online through the ASBA net banking facility of their banks and get the stocks credited in their demat account.

Steps to apply IPO using Stoxkart Demat and Net-banking

1. Log in to your bank's net-banking account.

2. Go to the IPO section.

3. Select the desired IPO.

4. Enter IPO bid details.

5. Enter your Stoxkart demat account details.

6. Review and Submit.

A Stoxkart customer who has a Stoxkart trading and demat account can apply for an IPO through Stoxkart. This can be done through the net banking Applications Supported by Blocked Amount (ASBA) process and the UPI process.

To close your Stoxkart Demat account the following details must be furnished with the account closure form:

1. Your ID and your Depository Participant ID.

2. KYC details like name and address that match with details submitted to Stoxkart.

3. The reason for closing the demat account.

4. Ensure that there are no dues on your account as well as no untraded securities.

5. A bank employee must mandatorily submit and verify the self-attested identity proof copy.

To withdraw money from your Stoxkart account, proceed with the following steps:

1. Click on the three bars on the top left corner of the screen.

2. From the menu that slides in, click on “Transfer Fund” and select “Net Banking” from the drop-down menu.

3. Select the “Withdraw Funds” tab.

4. Select the name of the Product.

5. Enter the Withdrawal Amount.

6. Fill in the Narration and Disclaimers Notification(optional).

7. Click on the “Submit” button right below the Disclaimers Notification.

No, Stoxkart is not free. They charge an account opening fees of ? 500 and AMC of ? 300.