Stoxkart, a deep discount broker, will offer psychometric tests Stoxmind.ai – India’s first behavioural assessment tool – which will help individual investors understand their trading traits.
The free tool will be available to all investors and will not be restricted to Stoxkart users. The tool was created after thorough research involving thousands of traders and professional psychologists on the cognitive biases that can often influence the decision-making of experienced traders and investors.
Pranay Agarwal, CEO, Stoxkart, said emotions very often deprive traders and investors from booking profit or building a portfolio, as they get stuck in a cycle of trial and error in the market.
This usually happens because people use methods that do not gel with their personality traits, and this has led to the creation of a free platform for objective evaluation of personality traits.
Psychometric tests are common when it comes to companies hiring employees, but unfortunately there have been no such tests available to investors and traders participating in the stock market, he said.
Stoxmind.ai will also offer educators in the stock market a separate dashboard.
Powered by SMC Group, Stoxkart has over 2 lakh traders and generates a daily volume of ₹5,000 crore. The SMC Group parent has invested ₹100 crore in Stoxkart to boost technology innovation, product expansion, marketing and customer acquisition to help it stay ahead of the curve.