Stock trading has gained popularity among Indians exponentially in the last couple of years. We look at the top trading apps in India, their features, pros, cons, and how to choose one to start making money today.
1. Zerodha Kite
Zerodha Kite is a flagship mobile trading software from Zerodha, India’s largest retail stockbroker. It offers an all-in-one trading platform suitable for both beginners and advanced traders.
Key Features:
– Advanced charting with over 100 indicators.
– High-speed market data streaming.
– Sticky order window for easy placement of multiple orders.
– Leverage indicator for checking available leverage on trades.
– In-depth trade analytics and fee breakdown.
Pros:
– Available on both iOS and Android.
– Zero brokerage fee for equity delivery trades and mutual funds.
– Beginner-friendly with an intuitive user interface.
– High leverage on intraday trading.
Cons:
– Charges for account opening (INR 200) and annual maintenance (INR 300).
– Additional charges for optional SMS alerts.
– No integrated stock tips or research reports.
Charges:
INR 20 per executed order for intraday trades.
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2. Upstox PRO
Backed by Tiger Global and Indian billionaire Ratan Tata, Upstox PRO is a popular app known for its diverse investment options and advanced trading tools.
Key Features
– Access to equities, derivatives, currencies, and commodities.
– Advanced charting tools with over 100 technical indicators.
– Trade directly from charts with the “TFC” feature.
– Up to 5X leverage on intraday trading.
Pros
– Low brokerage charges.
– Easy navigation and user-friendly interface.
– Unlimited price alerts and customizable watchlists.
Cons
– User complaints about the updated version.
– Charges INR 20 for call and trade orders.
– Poor chart interface.
Charges
INR 20 per trade for equity delivery, intraday, and other segments.
3. Angel One
Developed by Angel Broking, Angel Speed Pro is known for its single-window trading experience and robust software.
Key Features
– Real-time streaming rates for instant trading.
– Comprehensive investment analysis tools.
– Integrated Excel for live market data.
Pros
– Highly customizable.
– No charges for account opening and maintenance.
– Responsive customer care.
Cons
– Compatibility issues with certain devices.
– Bulky software.
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4. Groww
Groww is a user-friendly trading app in India that started as a platform for direct mutual fund investments and has expanded to offer stocks, ETFs, and IPOs. It is popular among millennials for its simplicity and educational resources.
Key Features
-Simple and easy-to-use interface, ideal for beginners.
-Offers both equity and direct mutual fund investments.
-Provides comprehensive insights, graphs, and financial reports.
-Dedicated sections for learning and market research.
Pros
-Free account opening and zero maintenance charges.
-No charges on mutual fund investments.
-Provides a wealth of educational content.
Cons
-Limited advanced trading features for seasoned investors.
-No support for commodity and currency trading.
Charges
Zero charges for direct mutual funds and competitive brokerage for stocks.
5. Paytm Money
Paytm Money is a leading trading app in India known for its zero-commission investments and wide range of investment products. It provides a seamless trading experience integrated with the Paytm ecosystem.
Key Features
Low-cost trading with no hidden fees.
Access to stocks, direct mutual funds, NPS, and digital gold.
Offers multiple features like price alerts, advanced charts, and SIP in stocks.
Instant money transfer with UPI integration.
Pros
No commission charges for mutual funds.
Seamless integration with the Paytm ecosystem.
Simple onboarding process and easy KYC verification.
Cons
Limited customer support options.
Occasional lags and glitches reported by users.
Charges: Zero commission for mutual funds, low brokerage fees for stocks, and no charges for account maintenance.
6. 5paisa
A rapidly growing trading app in India, 5paisa offers an extensive range of products and is known for its zero-commission mutual fund investments.
Key Features
– Clean and intuitive user interface.
– Access to real-time market data, stock quotes, and price updates.
– Personalized research and advisory services.
– Basket orders for placing multiple orders with one click.
Pros
– Free account opening and no commission on mutual funds.
– Highly customizable and multilingual support.
– Provides research and recommendations.
Cons
– Occasional app hanging issues.
– Distracting advertisements and promotional offers.
Charges
Low brokerage and zero charges for call and trades.
7. MO Investor App
Created by Motilal Oswal Securities, this app offers a wide range of services, including equities, derivatives, mutual funds, and educational resources.
Key Features
-AI-powered portfolio rebalancing.
– Value-added services like SIP via WhatsApp.
– Comprehensive research reports and educational resources.
Pros
– User-friendly interface.
– Free account opening and advisory services.
– Extensive market resources and tools.
Cons
– Higher brokerage transactional charges.
– Poor customer service.
Other Popular Trading Apps in India
8. Edelweiss Mobile Trading App: Known for advanced charting options, detailed market analysis, and flexible brokerage plans. Offers a smooth interface, dedicated market sections, and WhatsApp alerts.
9. Sharekhan App: Ideal for experienced traders with comprehensive trading and investment services, advanced search options, and detailed chart analysis.
10. Fyers Investment App: Integrates TradingView for advanced charting and offers thematic investment options with extensive historical data.
11. ICICI Direct App: Offers a convenient Pay Later option for marginal trading, with a nominal charge of Rs. 20 per trade.
12. FYERS: Known for its low trading fees, FYERS charges just 0.03% or Rs. 20 (whichever is lower) per trade, and provides free account opening.
13. AliceBlue App: Charges only Rs. 15 for intraday trading and provides brokerage-free equity delivery, making it a cost-effective choice for traders.
Frequently Asked Questions
What are the documents required for opening a trading account?
– Photo ID proof (PAN card, voter ID, passport, etc.)
– Address proof (utility bill, bank statement, ration card, etc.)
– Income proof (bank statement, salary slips, ITR)
– Bank proof (canceled cheque, bank passbook)
– Recent passport-size photograph and signature.
Which app is best for stock trading?
The best trading app varies depending on individual needs. Zerodha Kite is highly recommended for its overall user experience, while apps like Groww and Upstox are suitable for beginners.
What can I trade using a trading app?
Trading apps let you invest in a variety of financial products. You can trade in stocks (equities), participate in Initial Public Offerings (IPOs), trade derivatives, invest in mutual funds, fixed deposits, commodities, and even currencies. This means you can manage a broad range of investments all from one place.
Why is a demat account important in a trading app?
A demat account simplifies buying and selling shares. It keeps your shares and securities in electronic form, making it easy to track and manage your investments. This digital record helps ensure the safety and security of your holdings, protecting them from physical loss or damage.
How can I open a demat trading account?
Opening a demat account is quick and straightforward. You can apply online through any discount or full-service brokerage firm. You’ll need to complete some paperwork and provide documents like your PAN card, Aadhaar card, or another government-verified ID. Once you finish the KYC (Know Your Customer) process and verification, your demat account is usually set up instantly, often with little to no charges.
Are trading apps safe?
Yes, trading apps are regulated by the Securities and Exchange Board of India (SEBI), ensuring they follow strict security protocols. The security measures, such as encryption and two-factor authentication, to protect users’ data and funds are strictly followed. They also typically use two-factor authentication to keep your account safe, so you can trade with confidence.
What are the brokerage charges in trading apps in India?
Not all apps charge brokerage fees; some, like Zerodha Kite and Paytm Money, offer zero brokerage on equity delivery trades.
Can I use two trading apps at the same time?
Absolutely! You can use multiple trading apps based on your needs. For example, you might use one app for mutual funds and another for trading stocks or derivatives. It’s all about what works best for managing your investments.
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