SMC Global invests Rs 100 Cr In StoxKart
The app provides one-click orders, multiple chart analysis and various options contracts listings, with a low broadcast latency
SMC Global invested Rs 100 crore in StoxKart, a stock and options trading app, for technology, marketing and consumer education over the next two years. This funding adds to SMC Global's previous investment of Rs 35 crore in StoxKart.
The app provides one-click orders, multiple chart analysis and various options contracts listings, with a low broadcast latency of 0.40 milliseconds. StoxKart's features include a zero-brokerage trading model for delivery trades, transparent flat fees for F&O and intraday trading and a focus on simplifying the trading process.
SMC Global Securities, founded in 1990, offers brokerage services for equities, commodities and currency. PeepalCo recently entered the stock broking sector with its app Lemonn, aimed at simplifying investment discovery and decision-making for beginners. Lemonn supports equity investments and plans to include mutual funds and IPO investments soon. It also offers stock analyst ratings and a glossary of financial and market terms.
Groww and Zerodha are the leading brokerage apps in India, with around 9.9 million and 7.3 million active users respectively.
