In a landmark move, Stoxbox, a subsidiary of BP Wealth, launched the industry’s first AI-powered stock trading platform on WhatsApp, the Stoxbox WhatsApp Trader (SWT). This innovative platform aims to revolutionize the Indian stock market by making trading more accessible and convenient for everyone.
With a target of 100,000 subscribers within 3-6 months, Stoxbox has also introduced three key innovations: professional trader programs, a mobile app, and web-based platforms. All features were released within an impressive three months, showcasing the company’s agility and commitment to innovation.
“We are proud to be the first stockbroking company in India to introduce such an AI-powered solution,” said Yuvraj A. Thakkar, Managing Director of Stoxbox. “While some industry experts might call AI just a marketing gimmick, we strongly believe that AI on WhatsApp can truly enhance the stock market investing culture in India and create a positive impact.”
The Stoxbox WhatsApp Trader platform leverages Natural Language Processing (NLP) to understand user inputs (text and voice) and execute relevant actions. Users can get detailed customer information, make buy-sell trades, receive pro-tip suggestions, and even open demat and trading accounts directly through WhatsApp chat. The platform also supports multiple languages, ensuring inclusivity for a wider audience.
“Stoxbox aims to achieve a unique value proposition in the broking business model through subscription-based pricing, advanced trading platforms, and streamlining the Indian broking industry,” said Vamsi Krishna, CEO of Stoxbox.
Key features of Stoxbox:
- AI-powered trading on WhatsApp: Convenient and accessible for everyone.
- Professional trader programs: Address the lack of knowledge and skills among traders.
- Mobile app and web platform: Advanced charting, watchlists, and technical analysis tools.
- ProTips: Expert-curated trading recommendations for a monthly fee.
- Free brokerage charges for subscribers.
- Multilingual support: Ensures inclusivity for a wider audience.
Stoxbox is a subsidiary of BP Wealth, one of the oldest stockbroking firms in India. The platform is designed to address key challenges in the investment industry, such as biased advice, financial illiteracy, and the influence of unregistered advisors. Stoxbox provides its clients with access to stocks, ETFs, options, futures, and expert-led video courses. It also offers personalized coaching, pro-tips, and a user-friendly investing experience.