Stoxkart receives 100 Crore Investment from the SMC Global Group, Launches Trading App Stoxkart, backed by financial giant SMC Global, is making waves in the trading arena with the launch of its cutting-edge trading app. In an industry rife with competition, Stoxkart is swiftly emerging as a formidable contender.
By Kavya Pillai
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Stoxkart, backed by financial giant SMC Global, is making waves in the trading arena with the launch of its cutting-edge trading app. In an industry rife with competition, Stoxkart is swiftly emerging as a formidable contender. The SMC Group has invested Rs 100 crores strengthening Stoxkart's steadfast dedication to staying ahead of the curve. this investment will contribute to technology innovation, product expansion, marketing, and customer acquisition over the next 24 months.
SMC is a premier financial services firm with a decade long legacy of providing brokerage services including but not limited to equities, commodities, and currency. Their services also extend to the sectors of investment banking and wealth management, catering to corporate, institutional, and retail clientele. With a comprehensive range including research, financing, insurance broking, and real estate advisory services, SMC is known for their holistic solutions.
What's more, Stoxkart's commitment to technological innovation, which is evident from its substantial initial investment of 35 crores. The firm recently crossed a milestone by achieving the lowest latency rate on record at 0.40 milliseconds, which is not just garnering it attention but is also setting a new benchmark for efficiency and speed in the market, promising traders a significantly faster trading experience.
The official unveiling of Stoxkart took place through an exclusive closed-door event, attracting traders from all corners of the nation, ranging from novices to seasoned professionals. The event featured industry experts such as Mr. Nilesh Shah, Group President, and Managing Director of Kotak Mahindra AMC, who offered invaluable insights into asset management, providing attendees with a macroeconomic perspective and shedding light on broader market trends.
Noteworthy participants also included Mr. Nitin Murarka, a seasoned derivatives trader and research head at SMC, and Stoxkart's Director & CEO, Mr. Pranay Aggarwal, both of whom shared invaluable insights into trading and investments.
Stoxkart's unique selling point lies in its commitment to simplifying trading processes. The app introduces a zero-brokerage trading model on delivery, allowing investors to maximise returns without the burden of hefty commissions. The transparent and predictable flat fee structure on F&O and intraday trading ensures further accessibility to trading.
With one-click orders and a user-friendly interface, Stoxkart allows even newbies to navigate market complexities seamlessly. The platform also offers multiple chart analysis tools and features like order slicing, empowering traders to make informed decisions. Additionally, easy fund transfers make Stoxkart a one-stop solution for all types of traders.
Pranay Aggarwal, Director & CEO of Stoxkart, "Our team's fervor was palpable as we introduced the pioneering Stoxkart trading app. This isn't merely another platform; it's a transformative force in trading culture. By fusing our rich heritage of market intelligence with cutting-edge technology, and enriching it with insights from expert traders, we've engineered a solution that not only accelerates but also streamlines the entire trading process".
