23rd April 2024 – Financial services company SMC Global has contributed one billion rupees, or $11.9 million, to the Indian online trading platform Stoxkart. Stoxkart was founded in 2019 with the goal of making trading easier by providing a delivery trading model with no brokerage.
According to the firm, this allows investors to increase profits without worrying about expensive fees. Its intraday trading and futures and options flat charge structure further increases trading accessibility.
The platform helps them compete with regional companies like Groww and Zerodha by offering capabilities like order slicing and a variety of chart analysis tools. With the goal of reaching one million downloads a year, Stoxkart plans to use the additional funds to support product development, marketing, customer acquisition, and tech innovation over the following 24 months.
Conclusion
Based on statistics from Dalal Street Investment Journal, Groww is the online trading platform with the highest number of monthly active users (MAUs), with 6.8 million as of October 2023. In August 2023, it toppled Zerodha, which comes in second with 6.5 million MAUs.
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