Stoxkart: Commodity Trading: Brokerage, Charges, Reviews: 2024

Stoxkart has brought the concept of paying brokerage only when one books a profit. This marks the first firm in India to do so.

Stoxkart: Commodity Trading

Since Stoxkart is a registered MCX broker, there is an option to trade in commodities. Stoxkart customers can trade in commodity futures and options on MCX. Over and above that, Stoxkart only charger a flat brokerage of Rs 15/order only, which falls on the lower side of the segment when compared to other brokers like Zerodha and Upstox.

Thus, this stands as a key point of both, advantage and differentiation when comparing commodity trading facilities among different brokers. Stoxkart also has facilities like bracket orders and cover orders on MCX future trading.

Among the various advantages, while trading with this broker, one is obviously lowest brokerage. The broker, as mentioned, is also the pioneer of the concept of ‘Pay Only When You Earn’, which means you only pay brokerage when you make a profit trading MCX, and even then a flat brokerage is paid. The account opening procedure is simple and hassle free, and most of it is virtual.

Along with that, Stoxkart is part of the SMC Group, so it is reliable and trustworthy. Over and above that, the broker provides upto 3X margin in trading commodities, under a normal plan, while providing even more margin and exposure under premium plans. The broker also provides high margins when placing advanced orders like bracket and cover orders, irrespective of the brokerage plan.

In terms of commodity account opening procedure, there is always an option to open a commodities account while opening your primary account with the broker. However, in case you don’t do that, for any reason, you can always simply send a Commodity Trading Segment Addition Form filled and signed promptly to the broker, which will then open up a commodity account for you.

Stoxkart Commodity Trading: Brokerage

One of the main selling points of Stoxkart are its brokerage plans, especially for commodity trading. This is simply because Stoxkart offers a flat brokerage of Rs 15 per order, even on the MCX segment. But that’s not where the benefit of choosing this broker ends. The brokerage is only payable when you make a profit with this broker, which means to say there is no brokerage liability in case of a loss.

Stoxkart Commodity Trading: Margin

For people who trade in any kind of derivatives, margins are one of the foremost requirements, and Stoxkart takes care of such customers as as well, under various plans mentioned below.

1. Normal Plan:

Under normal plan, brokerage is flat Rs 15 per order while trading on MCX. The broker offers 3X margin while trading futures and options on MCX, while offering 4X margin for bracket and cover orders.

2. Premium Plan:

Primarily, this is the plan for more advanced traders with higher needs of margin. In this plan, the brokerage is Rs 30/order, while the margin is 4X on MCX, and 6X on advanced orders like bracket and cover orders.

While a ton of brokers provide similar services, Stoxkart certainly provides them at the most competitive prices. Thorough research, however, advisable.