Stoxkart Demat Account

Stoxkart Demat Account offers you many benefits and opportunities to trade in the stock market.

In this article, we have a detailed review of Demat Account with Stoxkart including the opening process, its charges, and advantages.

Stoxkart, a discount broker based in Delhi, was founded in the year 2019. It has been operating as a part of SMC Global Stockbroker.

Opening a Stoxkart Demat account is simple and you can avail Demat account services at a reasonable cost with it.

Stoxkart caters to more than lakhs clients spread all across the country which makes it one of the top companies in terms of the client base.

Stoxkart Demat Account Review

Stoxkart is a low-cost broker which is quite recent in the market of discount brokers in India.

The broker is listed in NSE, so if you are into the search to open NSE Account then check the complete process and Stoxkart charges associated with opening Demat account with Stoxkart. 

By opening a Stoxkart Demat account, you can start making investments in different stocks like equity, commodity, currency, mutual funds, government bonds, exchange-traded funds (ETFs), etc.

A Demat account acts just like a bank account for holding financial instruments instead of cash.

The trading account enables clients to trade in the financial securities that are held in their Demat accounts.

Stoxkart provides its services through its various trading platforms and mobile phone app. Stoxkart pro and Stoxkart Classic is one of their mobile app, which are easy to access and operate.

Their services are quite good and include research-based advice. They also provide Robo advisory services to their clients.

They also give stock recommendations on the basis of research done on various aspects of stocks.

They provide their customer care services through various channels like phone calls, online chat, web form, etc. They also provide real-time support to help clients in resolving their queries as and when they arise.

Also, the exposure available for Stoxkart clients is decent. Overall, Stoxkart is a good option if you are looking for a low-cost discount broker for opening a Demat account.

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Stoxkart Demat Account Opening

Stoxkart Demat account can be opened easily by two methods – online and offline. Let us discuss both these methods one by one in detail

Online Method

If you want to open a Stoxkart Demat account online, you need to visit their website and fill in your details on the short form made under the “To open an account” section. These are the most basic details like your name, city, mobile number, and email id.

After filling all the required details, you need to be ready with some basic documents required to open a Demat account. Upload all those documents to complete your application process. The documents are needed for proof of identity, proof of address and proof of income, etc.

You would be required a PAN card, Aadhar card, driver’s license, or a passport. You also need to upload your photograph and a signature on a paper. 

The verification process includes entering your Aadhar number. After this, your registered phone number will receive a one time password. The next step of this process is the payment for the account opening.

You can choose your preferred mode of payment from a bunch of options like credit or debit card payment, online wallets, etc.

Offline Method

The other method of opening a Stoxkart Demat account is an offline method. In this method, all the details remain pretty much the same. The account opening form needs to be procured either by visiting one of their branches.

An alternate way of getting the Stoxkart account opening form is downloading it from the website and getting its print out.

After that, all the details need to be filled in the form and a copy of all the documents need to be attached along with it. All these documents need to have your signatures (self-attested).

The next step is signing an agreement with Stoxkart. All of these things need to be sent to Stoxkart’s address.

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Wish to open a Demat Account

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Stoxkart Demat Account Login

After all the formalities are complete on both your as well as the broker’s end, your Stoxkart demat account will be opened. Along with it, you would receive a welcome kit in which your Beneficial owner identification number (BOID) and the password to your account will be mentioned.

You just need to download Stoxkart app or trading platforms on your device like laptop, phone or desktop in order to gain access to your Stoxkart demat account. The Stoxkart login details will help you to manage your account.

You just need to ensure a stable internet connection in order to be able to trade and manage your holdings.

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Stoxkart Demat Account Charges

The charges that need to be paid to the broker at the time of Stoxkart demat account opening are dependent on the kind of account you choose. If you are interested in opening an equity account, you would need to pay Rs. 300 + taxes.

If you choose the commodity trading option only, you would need to pay Rs. 200 + taxes.

Rs. 500 + taxes can be paid for an account through which trading in stocks as well as a commodity.

The Demat account AMC charges of the account are Rs. 300 that need to be paid every year.

 

Also the demat account charges involves Stoxkart DP charges. These charges are imposed whenever the shares held in your demat account is being sold.

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Stoxkart Demat Account Closure Form

In order to close the Stoxkart Demat account, there is an account closure form available on their website. You just need to fill it and sign it before sending it to their registered address.

Demat Account closure through a formal process is recommended to save on paying the annual maintenance charges of your account. This is because you need to pay AMC even if the account is in use or not.

If you decide to close Stoxkart’s Demat account for any reason, please make sure to do two things first. The first one is to check if there are any holdings in the Demat account.

If yes, then, you can either sell off the holding or shift to another Demat account. Another thing to remember is to clear off any dues that need to be paid to the broker. After the account closure form is submitted, it can take up to 3 – 4 working days to close the account.

Once the Stoxkart Demat account is closed, it is irreversible. In case you want to open an account with them again, you would have to follow the account opening procedure again and make a new account.

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Stoxkart Demat Account Advantages

There are many advantages of having a Stoxkart Demat account. Some of these are discussed here –

1) One of the best advantages of having a Stoxkart Demat account is the pricing. Pricing in terms of account opening and annual maintenance as well as their brokerage plans. They even provide the facility of paying no brokerage if the client is not making a profit-making trade.

2) The customer service of Stoxkart is above average and they take real genuine efforts in getting the queries of their clients resolved as quickly as possible.

3) They offer the refer and earn feature with the help of which you can earn some money every time you refer Stoxkart to another person and he/she opens an account with them. Not all brokers in India provide this feature.

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Stoxkart Demat Account Disadvantages

Where there are advantages of something, there are always some disadvantages as well. Let us discuss some of the disadvantages of having a Stoxkart Demat account here –

1) The most common disadvantage among brokers in India is not giving the facility of a 3 – in – 1 account. A 3 – in – 1 account is that account that has banking services integrated with trading and Demat account services. These are the most convenient for clients.

2) Unlike some of their competitors, the facility of call and trade is not free of cost in Stoxkart. Rs. 20 needs to be paid for every order executed through calling.

3) The mobile phone app of Stoxkart can be improved upon and its user experience can be made better.

4) Another con of Stoxkart demat account is that clients cannot avail of the facility of investment in IPO and trading.

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Conclusion

Stoxkart is a relatively new discount broker in India which has got above average reviews from its clients. Stoxkart Demat opening process is quite simple and can be opened in a span of up to 48 hours after submitting the account opening form and documents. Their trading platforms are good and user friendly.

In terms of customer service, they are good too. They also provide the facility of investments in mutual funds.

The overall pricing of Stoxkart is very competitive and one of the best parts of it. In order to decide while opening a Stoxkart Demat account, different aspects related to it should be considered.

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Frequently Asked Questions

1) How much time will it take to open a Stoxkart Demat account?

Once all the formalities of filling the form and submitting the documents are done from the client’s end, Stoxkart will perform the verification process and will open the account in around 2 working days’ time.

2) Is there an eligibility criterion of age for account opening in Stoxkart?

Anyone can get his / her account opened in Stoxkart. Even minors can get their accounts opened with Stoxkart with the help of a guardian. You just need to have a PAN card for opening the account. Click here to know the procedure.

3) What are the documents that need to be submitted while opening a Stoxkart Demat account?

The documents that are needed while account opening is mainly divided into three categories – proof of address, proofs of identity, and proof of bank account.

The documents that are acceptable as a part of the proof of address and proof of identity are PAN card, Aadhar card, Voter id card, driver’s license, etc.

The document that is needed as a part of the proof of bank account is a canceled cheque which clearly mentions the name of the client and bank’s IFSC code as well as MICR.

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