SMC Global invests Rs 100 crore in its trading app StoxKart

SMC Global Securities Ltd. announced a Rs 100 crore investment in StoxKart, a stock and options trading app. 

The funding aims to enhance the app's technology features, marketing efforts, and consumer education over the next two years. This new investment follows an earlier infusion of Rs 35 crore for the development and launch of StoxKart.

Simplifying trading process

StoxKart is designed to simplify trading processes with several advanced features. It offers one-click orders, multiple chart analysis, and various options contract listings to aid in easy trading decisions. The platform is noted for having the lowest broadcast latency in the industry, at just 0.40 milliseconds.

Additionally, StoxKart promotes a zero-brokerage trading model for delivery trades, allowing investors to maximize returns without hefty commissions.

The app also provides a transparent and predictable flat fee structure for F&O (Futures & Options) and intraday trading, ensuring greater accessibility for traders.

Offering brokerage services

SMC Global Securities Ltd., founded in 1990 and based in New Delhi, is an investment banking and financial services company. The firm offers brokerage services across various asset classes, including equities (cash and derivatives), commodities, and currency.

StoxKart is one of the key platforms under SMC Global, catering to stock and options traders with its advanced features and user-friendly interface.

Competitors 

In the rapidly growing stock brokerage app market in India, StoxKart competes with popular platforms like Groww and Zerodha. Groww leads with nearly 9.9 million active users, while Zerodha follows closely with approximately 7.3 million active users.

These apps offer a range of features aimed at simplifying investment and trading for users. Recently, PeepalCo, the parent company of the cryptocurrency platform CoinSwitch, entered the stock broking sector with its app Lemonn.

Lemonn aims to simplify investment discovery and decision-making for beginners and supports equity investments, with plans to include mutual funds and IPO investments soon. It also provides stock analyst ratings and a glossary of financial and market terms.