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Stoxkart is a part of the SMC Global Stockbroker which is a popular brokerage firm in India as well as abroad. Since its inception in 2019, Stoxkart main focus has been to provide high quality as well as low-cost trading services to customers all over the country.
Based in Delhi, Stoxkart has over 1 lakh members making it one of the top discount brokerage firms in the country.
Stoxkart might be a new entrant in the field of online brokerage service providers, but the response it has received so far from the customers has been highly positive and encouraging.
In fact, Stoxkart Demat account are currently one of the leading choices of the traders in India.
Some of the reasons why people prefer to open a Stoxkart demat account over other available options are as follows:
- One of the lowest brokerage amounts charged by the company. In fact, the brokerage is only paid by the members when they earn a profit.
- Intraday exposure margin provided is up to 25 times
- If there is no gain, a flat fee of Rs. 15 is charged per intraday equity trade
- Highly convenient and simple demat account opening process
- Robo advisory feature provided to customers who use the Stoxkart Pro trading platform
- Users are provided with real-time market updates.
- Stoxkart trading platforms can be accessed via your computer as well as your smartphones easily.
How to Open A Demat Account in Stoxkart?
Do you wish to open a Stoxkart Demat account? Well, the process to do so is fairly simple and hassle-free. You can open a demat account here via two ways, the offline and the online method. Most users prefer the online method more as it’s quicker and easier.
Online Account Opening Procedure
For opening the online demat account, follow the given steps:
- Visit Stoxkart official website and go to the Demat account opening page
- Enter your email id and phone number and click on the Open Account option.
- Next, enter the basic info required and click on the signup option
- Keep the scanned copies of essential documents ready. The documents which are required to open a Stoxkart demat account are as follows:
- PAN card
- Aadhar card (mandatory for online opening of delay account)
- Latest bank statement of last 3 months
- Signature on a paper
- Canceled cheque
- Address proof
- To verify your identity, Stoxkart will ask you to enter your Aadhar number and then send a one-time password (OTP) to your registered mobile number.
- There are various ways to make the payment on Stoxkart. You can pay the account opening fees via net banking, credit and debit card, UPI and also online wallets such as Paytm.
- Once the payment has been successfully made, your demat account with Stoxkart will be created.
Offline Account Opening Procedure
For opening your Stoxkart Demat account offline, follow the given steps:
- Go to the Stoxkart website and download the Stoxkart demat account opening form.
- Alternatively, you can also visit any of the Stoxkart branches near you to get the form.
- Fill all the details required in the form and attach a copy of valid address and identity proof such as your PAN card, Aadhar card (not mandatory) or passport.
- Also, sign the above copy of the documents for the purpose of self-attestation. Ensure that the signature provided here matches with the one provided in the account opening form.
- Next, you will have to sign an agreement with your broker which would state your responsibilities as a trader. Ensure to keep this document safe in case it is needed later on.
- Send the account opening form and the relevant documents to the registered office of Stoxkart in Delhi.
Stoxkart Demat Account Charges
Stoxkart charges a minimal amount to open your demat account. For opening an equity account, you will be charged Rs. 300 plus GST amount whereas opening a commodity account in Stoxkart will cost you Rs. 200 plus GST amount.
Apart from the above charges, Stoxkart will also ask you to pay Annual maintenance charges of Rs. 300 excluding the GST amount which will be directly debited from your account.
Stoxkart charges brokerage from its customers as well every time they make a profit. The brokerage amounts charged by Stoxkart are as follows:
|Equity Intraday||Rs. 15 per order executed|
|Equity Delivery||Nil charge|
|Equity Option and Future||Rs. 15 per order executed|
|Currency option and Future||Rs. 15 per order executed|
|Commodity Option and Future||Rs. 15 per order executed|
|Transaction charges for DP||Rs.18/ scrip|
|Offline order placement||Rs. 20|
|Mutual Fund charges||Nil|
How Long Does It Take To Open Stoxkart Demat Account?
Once you have filled and deposited the account opening form along with the required documents, Stoxkart might take up to 48 hours to process and verify your documents and finally open your demat account.
You will receive a unique account number on your mail, also known as the Beneficial owner identification number (BOID). You can use this account number to complete the Stoxkart demat login process.
If you do not receive your Stoxkart demat account number within the prescribed time period, please contact the Stoxkart customer care team for further support and guidance. All you have to do is visit the Stoxkart help center page, submit your query and wait for the customer support team to contact you back.
How to Transfer Shares from One Demat Account To Another Stoxkart
Transferring shares from one Stoxkart demat account to another is not as tough as it might seem. In order to do so, you have to fill the delivery instruction slip (DIS) and submit it to Stoxkart registered office in Delhi.
You can get the DIS booklet by downloading, filling and submitting the New DIS request form.
When you fill the DIS request form as well as the DIS slip, make sure that all the information asked is correctly provided by you to assure easy and quick transfer of shares.
How to Close Stoxkart Demat Account?
There are two ways to close your Stoxkart Demat account. Remember that account closure is not possible online and you have to submit a physical printout of the account closure form to Stoxkart registered office to initiate the process.
Also, please note that the closure of the Stoxkart account is different from deactivating it.
While closure is a permanent process where all your details are removed forever and you have to reopen your account with Stoxkart if you wish to trade again, deactivating is a temporary process and more suitable for people who want to take a short break from trading now and then.
Before closing your Stoxkart demat account, make sure there is no negative balance or pending dues in your account.
Clear all the dues before you start with the account closure process. Also, if there is any security in your account, transfer it to another person or sell it.
- Go to the Stoxkart website and download the account closure form
- Print the form, fill it up with correct details, sign it and send it to Stoxkart registered office in Delhi.
It might take 3 to 4 working days to close your demat account. If you do not receive any closure confirmation mail within the prescribed time period, contact the Stoxkart customer support team for help and guidance to If you are having trouble initiating the account closure process.
You can take the help of the customer support team by calling or emailing them and a representative will assist you in closing your account successfully in no time.
Stoxkart Demat Account Pro And Cons
- Easy Stoxkart demat account opening process
- Brokerage to be paid only when there is a profit
- A dedicated customer support team to solve all your queries and handle your grievances effectively.
- Nil charges on delivery
- Register with the Stoxkart refer and earn feature and get a cashback of Rs. 200 and an Rs. 500 Amazon gift vouchers when your friend opens his/ her demat account with Stoxkart.
- Stoxkart is a new player in the market and has quite less experience than other established names such as Zerodha and Upstox
- It charges Rs. 20 for providing the call and trade feature to its users
- IPO trading facility is not provided yet by Stoxkart.
There are only a few discount brokerage firms in the country which have managed to leave such a great impression on the minds of traders and critics alike in such a short time as Stoxkart did.
Due to its low-cost brokerage charges, hassle-free account opening, closing and modification process and a friendly and eager to help customer support team, Stoxkart has been taking giant leaps towards becoming one of the top brokerage firms in India.
Consider opening a Stoxkart demat account if you are a novice trader looking for a reliable kickstart or even if you are a professional trying to earn the maximum profit while trading.
Stoxkart Demat Account FAQs
Do I need to fill the Power of Attorney form (POA)? If yes, where do I send it?
If you are a trader, you need to fill the Power of Attorney form. The POA form gives Stoxkart the right to debit shares from your demat account once you transfer or sell them off. You can download the POA form from Stoxkart website, print it out, fill it with the correct and required details, sign it and send it to the company’s registered office.
What is the margin provided by Stoxkart?
Stoxkart currently has one of the best margin rates for the traders in the market. Details of the margin provided by Stoxkart are given below:
|Equity Intraday||Up to 15 times|
|Equity delivery||Up to 1 time|
|Equity Future||Up to 7 times|
|Currency option||Up to 2 times|
|Currency Future||Up to 5 times|
|Commodity Future||Up to 6 times|
|Commodity Option||Up to 2 times|
|Equity Option||Up to 5 times|
|CO and BO||Up to 25 times|
Is my money safe with Stoxkart?
Absolutely yes. Stoxkart might be a new discount brokerage firm, but definitely, it can be considered as a reliable one. Over 1 lakh users have put their trust in Stoxkart with profitable results.
Stoxkart is registered with authorities such as NSE, MCX, and BSE, and also complies with all the mandatory SEBI requirements.
Frequent audits are being conducted as well to check its operations and functioning thus, guaranteeing that the money you have invested in Stoxkart is completely safe.
What are the different Stoxkart trading platforms?
Stoxkart basically provides three trading platform choices to its users. All three platforms are very effective and advanced proving several benefits to the users. The three trading platforms of Stoxkart are:
- Diet trading terminal which is a preferred trading platform for the MCX traders.
- Stoxkart classic which is a web-based trading platform
- Stoxkart mobile pro which has been made available on Android as well as iPhone devices
What is the refund policy followed by Stoxkart?
If your Stoxkart demat account has not been opened within 10 days of submitting the opening form along with the relevant documents, you can ask for the refund of the entire amount paid by you from the company.
Also, if you made the payment online and the amount got debited twice, contact the customer support team and they will start the refund process for you.
Stockquantum was founded by Dharmendra Mukati in 2018. I am a Trader and Investor in the last 10 years.
I am writing here about stock broker review, broker comparison, IPO investment, Crypto currencies, technical analysis, fundamental analysis, sub brokership, mutual fund, personal finance, and our experiences.