As a beginner, you should start with trading stocks. This means buying an asset in the hope of selling at a higher price in the future. When you are ready to trade forex, make sure to use one of the best trading apps in India – one that offers tight spreads and low commissions.
This article presents the top 10 trading Apps in India and their features. It also goes into detail and explains, in brief, the best trading Apps that every beginner should start with.
What Is The Best Trading Platforms In India?
The best trading platform in India is NSE, which stands for the National Stock Exchange of India. It’s the largest stock exchange in India and has an investor base of more than 1 million. The average daily turnover on the exchange is over $1 billion. The NSE has several additional features, including multilingual services and its computerized trading system.
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Zerodha is India’s first discounted stockbroker. With advanced in-house technology and unparalleled service, it has become one of the leading players in the Indian financial markets industry. Investing through this broker means choosing between Equity, Commodity, Currency, Futures, or Case Trading.
- Zerodha is a self-clearing broker which means that they don’t recover clearing charges from customers.
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- Golden Pi Alternatives To Investment Bonds And G-Sec Currencies.
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- Zerodha’s call & trade charges are more as compared to other brokers.
- NRIs eligible to open only offline Savings Bank Accounts.
- For each type of investment product, they have a different platform like Kite for shares, Coin for mutual funds, and Golden Pi for bonds, etc.
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- Smaller customer base software glitches can occur as well.
Angel One is a full-service broker offering a wide range of investment and trading services at the same cost as discounted brokers. They offer trades for commodities, currencies, futures, and options and will do whatever you want to make more money including binary options, 3D options, and various levels of insurance on your trades.
- Provides Full-service brokerage services at low brokerage fees.
- Praiseworthy customer service.
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- The Dynamics of Equity.
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- An extraneous fee of ₹20 is charged for each trade.
- Customer service takes time into consideration.
- Mobile UI issues.
- Investor’s Central.
Upstox is a new discount broker with free third-party subscriptions. They offer investment options in Equity, Commodity, Currency, Futures, and Options.
- They have morning newsletters on market talks for free to know the market recap.
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- Just like traders, there are many algorithms and techniques to improve text generation with AI.
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- The margin on your trading is limited.
- When considering investing in mutual funds, customers will need to evaluate both direct plans and regular plans.
- Even for the pre-paid plans, Demat Transaction Charges are higher because you are not charged on what you withdraw/deposit money, but rather your transactions.
- Intraday orders require an additional ₹20 charge for customers if not executed by the user.
A new entrant into the stock market, Groww, offers investment in Stocks, Mutual Funds, Gold and Fixed deposits. Other segments include Equity, Commodity, Currency, Futures, and Options through this broker.
- Commission-free investment for customers.
- One of the many offerings by transaction allows for your bespoke trading account to be opened quickly and easily. As long as you have an Aadhar Card, an account setup is fast!
- UI design and usability.
- The option for investing in US-based stocks is coming.
- Implications of the lack of products include limited commodity investments and complicated hedging.
- ActiveHelp’s live chat is available!
- Users find difficulty in doing an in-depth and detailed analysis of available fund investment options, as the available online content is not enough.
Financial services company, ICICI Securities Limited, offers a highly robust product portfolio that can be accessed through a variety of exchange-traded products. ICICI Direct combines its more known financial securities with Indian market insights to provide customers with adequate choices.
- VTC (Valid Till Cancelled) option gives customers a chance to place buy or sell limit orders which will remain valid for 45 days. With this, customers do not need to constantly monitor markets or wait for trends because they can place orders at any time to get maximum relevance in the activity.
- Wealthfront helps simplify how you invest.
- Stock market analyses and other pricing data services are for sale at a very competitive price.
- Brokerage is high as compared to others. Customers have the option to subscribe to ICICI direct Prime or prepaid brokerage plans for investment protection.
- The current high brokerage charges for traders who don’t trade frequently will change with the Affordable Healthcare Act.
- ICICI Direct charges more when you trade in stocks under Rs.1
- The charge for a call & trade is high-rangin’–worse than a missed charge order.
As one of India’s top full-service brokers, HDFC Securities offers a variety of investment options. The company has 250+ company-owned branches as well as a large customer base to help guide investors.
- Enjoys brand equity and trust because of its banking service provider HDFC bank.
- Futures trading in India’s most innovative trading facility helps traders reduce risk
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- A portfolio tracking system monitors the overall performance of an investment
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- Invest in high volumes for a more negotiable HDFC brokerage.
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- HDFC blink is a terminal-based trading platform that can be subscribed to in advance.
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Kotak Securities is a full-service broker that is a subsidiary of Kotak Mahindra Bank. They distribute financial products and services across the country. The segments in which you can invest (includes Equity, Commodity, Currency, Futures, and Options) through this broker. Services are tailored to farmers, HNIs, self-employed people SOPs, individual traders TCYs & more, making investing manageable for everyone. They employ highly educated doctors to help diagnose your requirement.
- Kotak Securities provides a wide range of investment options.
- Provides insights to customers every day.
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- What NRIs can do to take advantage of Kotak Securities?
- Call & Trade charges vary depending on the frequency of investing.
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5paisa is one of the fastest-growing brokerages in India for both traders and investors. As low as $30, traders can invest in Equity, Commodity, Currency, Futures, and Options.
- IIFL Group, which is a premier Indian NBFC with experience of over 2 decades, is the promoter of 5paisa.
- Offers Two Different Subscription Plans.
- TD Ameritrade offers free research to trade ETFs, stocks, and CFDs.
- High Demat transaction charges.
- Low brokerage charges come at a cost.
- Why Call & Trade is typically after purchase.
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- Information on the website, promotions of other sites.
- Call & Trade lets you trade your stocks and commodities for free and in real-time.
Motilal Oswal is a full-service broker in India. The company offers a wide range of investment and trading services in different segments. The segments in which you can invest (includes Equity, Commodity, Currency, Futures, and Options) through this broker include Equity, Commodity, Currency, Futures, and Options.
- Free call and trade services.
- Find out what stock or security is the perfect one for you.
- Trend-guided AI uses machine learning to analyze market trends and find trading opportunities, improving trading performance by 8%.
- Change your trading strategy to improve your knowledge.
- Does not offer flat brokerage or discount brokerage plans.
- Nonregistered mutual funds.
- Fees are included at different rates.
However, investment brokers usually do not offer the same service as this broker does. Axis Direct offers many financial and commodity investments and has more than 75 branches in India.
- Provision of 3 in 1 account facilities provides users with a smooth and flawless trading experience.
- Expensify offers quality research reports at a price
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- Axis Direct Offers Free Learning Options
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- Brokerage, opening cost, and maintenance charges are very high.
- Its is a chargeable subscription-based platform.
How To Pick The Most Suitable App For You
There are many trading platforms and apps available in India. Some of them are better for beginners while others are more suited for seasoned traders. Decide if you want a desktop-based or mobile-based app and then choose one that fits your requirements. You should also look at how many trades it offers, the spreads, and the other features it offers to ensure that it will be able to fulfill your needs.
Pros and Cons of Trading Apps in India
If you are looking to trade in India, you’ll want to know about the pros and cons of trading earn apps. New traders may find it easier to use an app as they can check their online portfolio or make trades on the go. However, there are a few cons to using trading apps as well. The most popular trading app is NSDL-Securities which is offered by National Securities Depository Limited. It’s a free download but users must have a debit card, a Demat account, and complete KYC verification for transactions. You also earn free refer money from these apps.
It’s no surprise that an app like India’s leading online trading service would end up on this list. India’s leading online trading service has managed to grow an impressive following in the country, thanks to its easy-to-use interface and customer support services.