With the advent of technology in the stock markets, there has been a trading app coming into the market every day. However, not all the apps are suitable for your trading requirements, and thus you need to pick the best trading app in India which will be suitable for your trading needs.
Here in this article, we will help you understand the factors you need to consider while choosing the top trading app in India.
Factors to consider when choosing best trading app in India
For choosing the best trading app, these factors are crucial to be evaluated.
- Trading Experience and goals: The first thing that you need to evaluate is your own trading goals and your trading experience for choosing the best trading app in India. For instance, if you are a newbie trader who is just starting with the trading journey, then apps with simple user-interface would be the right one for you, while for experienced traders, trading apps with lot of technical tools, indicators, advanced charting options will be more suitable.
- App Interface: The second thing that you need check before opting for a trading app is the interface. Whether the interface offers fast trade order placement or not is crucial to know about.
- Availability across Devices: Now with retail trading on the rise, many traders trade even with their mobile phones on the go. So, while choosing any app, check whether it has mobile version of the app or not and if yes then whether it has all the tools and resources, and how is the interface, speed of placing an order and other features.
- Technical tools: The next thing is what all technical tools, charting options, indicators the app has. It is also important to check what all resources the app offers for the research of asset classes apart from technical tools.
- Assets Classes: The next thing you must check while choosing the right trading app is the type of assets which can be traded on the app. Whether it offers equities, derivatives, commodities, and other asset classes or not.
- Customer support: The next up is customer support which you need to test before picking up any app. High-quality customer support is crucial for smooth trading experience and the best trading app should have the same.
- Evaluate the fees: When you are choosing the best app for trading, you are also choosing one of the top brokerage houses and thus you need to check the brokerage charges, hidden charges, and other fees before selecting one.
- Test Run: If possible, then select shortlist some of the top trading apps and then try them using Demo accounts to understand which is most suitable for your needs, and according to the other parameters as you need.
- Finally Reviews: Before taking the final call, go through the reviews of the app on the internet, or Google Playstore, or other sites.
Top Five Trading Apps in India
Dhan
Features of Dhan that set it apart are –
- ₹0 brokerage for equity delivery, ETFs, IPOs, and mutual funds.
- Intraday, futures, and options trades are charged at ₹20 per executed order or 0.03% of the trade value, whichever is lower.
- Integration with TradingView and professional-grade charting features.
- These advanced order types allow traders to execute multiple trades efficiently.
- Traders can increase their buying power by using MTF.
- Detailed portfolio insights and performance tracking
Zerodha
Features of Zerodha which sets it apart are –
- Exceptional charting tools and educational resources
- Fast order execution
- Low brokerage charges
- Easy to use app interface even with so many advanced tools
Groww
The features of Groww includes –
- Simple, highly user-friendly interface makes it a perfect choice for the beginners.
- Wide range of assets to trade
- Zero brokerage on equity delivery trades
- Lot of fundamental resources to learn about trading and investments and analysis
Angel One
The features of Angel One are as follows –
- Smart API integration for the new as well as experienced traders
- Lot of stock research resources which you can use for trading and long-term investment analysis as well
- You get personalized investment recommendations on the app itself
- Live market updates
- Super-fast trade order placement
ICICI Direct
Finally, we have ICICI Direct which is suitable mainly for the large-scale traders and investors. The features of the app include –
- Advanced research tools and insights
- Multiple asset classes from equities, to derivatives, fixed income assets, collective investment schemes and more
- Integrated banking within the app itself making smooth fund transfer possible
- Excellent customer care services
Wrapping up
Thus, now you know that finding the best trading app in India is not that difficult, is it? If you can evaluate the factors which determines how a trading app would be, then you can find the right trading app for your trading needs easily.
Best Trading App in India | FAQs
1. What is the No.1 trading app in India?
While it is difficult to mark any single trading app as No.1 in India, as the best trading app for you would depend on your trading goals and experience and other factors.
2. Is Shoonya a good trading app?
Shoonya offers a lot of tools, and resources which is suitable for both beginner traders as well as professional traders. This makes the app a good choice for trading.
3. Which trading app is good for beginners?
Trading apps like Shoonya, Groww are suitable for beginners as they offer a simple user-interface and abundance of resources to learn about trading and other aspects of the market.
4. What is most important feature in a trading app?
The most important feature would depend on your trading goals, while for the beginners it could be simple interface, for the experienced, it could be the advanced charting tools.
5. Which app is best for advanced traders?
The trading apps like ICICI Direct, and Zerodha are most suited for the experienced traders as they offer plethora of advanced technical tools.