Introduction
The bullish run of the Indian stock market has encouraged many retail investors to earn returns from the equity market. About 65% of retail investors make small ticket investments of less than Rs. 1 lakh. Stock trading is still dominated by high-net-worth individuals who don’t think twice about profits from the stock market. Technology platforms have empowered many youngsters to start trading, and they are comfortable investing in smaller ticket sizes. The average ticket size of entry-level investors is around Rs. 15,000.
This blog gives you the top 10 apps, and you can choose the best trading app in India that fits your needs. Moreover, many platforms provide the added advantage of a free demat account with no annual charges, further enhancing accessibility and affordability for retail investors. Whether you’re a seasoned trader or just starting, choosing the right trading app can significantly impact your investment journey.
10 Best Trading Apps
The trading apps vary in features, access to investment products, and types of brokerage accounts. Choosing a trading app with zero brokerage will minimise trading costs and increase profits. Here is a list of the popular trading apps in India:
#1 Zerodha Kite
With more than one crore active clients, about 15% of Indian trading volume is from this app. The robust technology platform supports both beginner and advanced traders. Users can download the trading app, access it on any web browser, or use the Chrome extension to track stocks and place orders. The intuitive user interface also has advanced charts with high-speed market data streaming. Advanced features provide deep analytics for the overall portfolio. The platform offers free equity delivery trading and 20X leverage on intraday trading.
The platform charges account opening and maintenance fees. There are also extra charges to get SMS alerts; order details can be fetched only from another app.
#2 Shoonya
Shoonya is a discount broker that revolutionised share trading in India with commission-free trading on all segments. Through this broker, you can invest in equity, commodity, currency, futures, and options. It is an absolute zero brokerage app with no hidden fees or charges. You can also get a free lifetime demat account when you sign up with Shoonya. The interactive customer service provides quick answers to resolve customer queries.
The intuitive interface shows multiple charts on the same screen to enable traders to make quick trading decisions. You can also get research reports and SMS alerts without additional charges. The AI-powered platform also provides market predictions with heat maps.
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#3 Upstox Pro Trading App
Upstox Pro is a discount broker app for investing in stocks, currencies, mutual funds, and commodities. It offers access to advanced tools like trading view and charts IQ libraries. It also includes advanced features like a market watch, live stock quotes, and charts. Users can get 5X leverage on intraday trading.
The charts interface is complicated for beginners, and no recommendations are offered. It charges Rs. 20 for call and trade orders, which can quickly add up.
#4 5Paisa
5Paisa provides access to numerous trading products like stocks, mutual funds, commodities, and currencies. Users can also get free access to news, research, and advisory. The platform also offers educational resources to help beginners learn more about the stock market. It is a discount broker that doesn’t charge for call and trades and mutual fund investing.
The app is, however, loaded with advertisements and promotional offers.
#5 ICICI Direct
ICICI Direct is a part of the ICICI group, offering complete brokerage services. The trusted brand name increases the trust of traders and investors. It is suitable for beginners and advanced traders. Users can get free research and advisory services. The app also offers free equity futures trading. Detailed research and analytical tools are available across equity and derivatives. It provides access to an extensive range of products like equities, commodities, currencies, derivatives, mutual funds, IPOs, FDs, bonds, insurance, and ETFs. The tiered plan allows users to pay for services they need.
It can be intimidating for beginners to use this app, as it is not technology-driven. The charts are also not as interactive.
#6 Kotak Securities
Kotak Securities aims to capture the market share of young investors as it offers special discounted rates for investors younger than 30. You can create a trading account and start dealing stocks, derivatives, IPOs, mutual funds, currencies, and commodities with a few quick and easy steps. Users can conduct intraday trades for zero brokerage fees.
Kotak trading app doesn’t provide leveraged trading. There is a demo account, so the user cannot test the features without starting trading.
#7 Angel Speed Pro
Angel Speed Pro is a full-service stockbroker with a single-window trading offering for its users. It offers insightful features for fast-track trade execution. Users can also get stock updates in real time. You can trade equities, commodities, currencies, and derivatives. You can execute trades instantly as rates are live-streamed from the exchanges. The app provides excellent portfolio management ability for high-end stocks.
As it is a full-service broker, the charges are higher. Due to extensive features, the app is also bulky.
#8 IIFL Markets
IIFL Markets is a brokerage app from IndiaInfoline. It offers access to products from multiple segments like equities, currencies, mutual funds, and commodities. Clients can get free stock tips and research reports. It extends access to multiple stock exchanges and provides detailed dashboards for different indices. Advanced traders will find the app helpful, as it has advanced technical charting tools and reports.
Due to the extensive list of features, users must pay additional charges for call and trade services.
#9 MO Investor
MO Investor app is from India’s leading brokerage firm – Motilal Oswal Securities. It is ideal for advanced traders as the app has instant price alerts and advanced tools. Traders and investors can access equity, derivatives, commodities, mutual funds, currency, bonds, and IPOs. It also provides access to US equities. The app has extensive portfolio management services.
The advanced platform charges higher brokerage transaction charges.
#10 Edelweiss Mobile Trading App
Active traders regularly need access to advanced charts, market analysis reports, and research tools. Edelweiss Mobile Trading App has several technical features like real-time market commendatory, research tools, dedicated relationship manager, free portfolio organiser, WhatsApp alerts, etc. Apart from trading and research tools, users can get customised financial advisory services based on the type of account – lite or elite.
Most of the features offered on the app cost money, and users must pay additional charges for certain features even with a lite plan. Switching from the lite to the elite plan is also expensive.
Conclusion
Besides the above mentioned trading apps, Groww, Sharekhan, Fyers, etc., are some of India’s popular trading apps. While choosing a trading app, pay attention to its reliability and speed. The mobile app must be easy to use, allowing you to experience the interface using a demo account. Look for apps that offer advanced features, even if you have to pay to access those features. As you grow from a novice to a professional trader, you need access to advanced charting and reporting tools to make the best investment decisions.
Moreover, look out for trading apps that offer the added benefit of a lifetime free demat account, eliminating annual charges and enhancing affordability for retail investors. By prioritising reliability, speed, and access to advanced features, you can choose a trading app that meets your evolving needs and empowers you to navigate the stock market confidently.
FAQs
1. What are the benefits of using a trading app?
Trading app provides the convenience of trading from anytime, anywhere. It executes trade faster and provides access to educational resources and market analysis tools on your smartphone.
2. Do I need a demat account when I use a trading app?
Yes, securities purchased through the trading app can be held only in a demat account. So, you need a demat account along with your trading account.
3. What are brokerage fees?
Brokerage fees are charges levied by trading platforms to facilitate your trades. These include transactions, account maintenance, and depository charges.