Investing in the stock market has become increasingly accessible thanks to the rise of mobile trading applications. These trading apps provide a user-friendly platform for novice and experienced traders to buy and sell stocks, manage portfolios, and access real-time market data. This article explores some of the best trading apps available in India, highlighting their features, advantages, and potential drawbacks.
Best Trading Apps in India for Beginners
1. Angel One
Overview: Angel One, previously recognized as Angel Broking, provides a versatile trading platform designed to meet the needs of both novice and experienced traders.
Key Features:
User-Friendly Interface: Easy to navigate with a simple design.
Investment Options: Supports various investment options including equities, commodities, currencies, and mutual funds.
SmartAPI: Allows tech-savvy users to automate trading strategies using APIs.
Research Reports: Provides in-depth research reports and trading recommendations.
Pros:
Wide range of investment options.
Detailed market research and analysis.
Good customer support.
Cons:
The app can be slow at times.
High brokerage charges compared to some competitors.
Charges: Angel One charges Rs. 20 per executed order for intraday, F&O, and commodity trades.
2. Groww
Overview: Groww is a beginner-friendly app that has gained popularity for its simplicity and ease of use.
Key Features:
Account Opening: Open an account for free with our seamless digital process.
Investment Options: Supports investments in stocks, mutual funds, and ETFs.
Educational Content: Provides a variety of learning materials designed to educate users on the principles and strategies of investing.
User Interface: Clean and intuitive, making it easy for new investors to navigate.
Pros:
No account opening or maintenance charges.
Easy to use for beginners.
Comprehensive educational resources.
Cons:
Limited advanced trading features.
Charges for call and trade are high.
Charges: Groww’s charges depend on whether it’s 20 dollars or 0.05% of the trade value, whichever is less, for equity intraday and delivery trades.
3. Zerodha Kite
Overview: Zerodha Kite is a top-rated trading app known for its robust performance and comprehensive features.
Key Features:
User Interface: Simple and intuitive, making it accessible for both beginners and experienced traders.
Market Coverage: Facilitates trading across multiple equities, commodities, and derivatives segments.
Advanced Tools: Includes features like advanced charting, various order types, and market analysis tools.
Educational Resources: Provides educational content and resources to help users understand trading strategies and market dynamics.
Pros:
Low brokerage fees.
Fast execution of trades.
Extensive market data and analysis tools.
Cons:
During peak times, the response times for customer support might be slower.
A mutual fund investment option is not available.
Charges: Zerodha charges a flat fee of Rs. 20 for each order you complete, whether for intraday trades or futures and options (F&O) transactions.
4. Upstox Pro
Overview: Upstox Pro distinguishes itself with its intuitive design and an extensive range of trading tools.
Key Features:
Instant Investment: Allows users to make quick investment decisions with instant execution.
Research and Analysis: Offers a range of tools for technical analysis and market research.
Alerts and Notifications: Users can set price alerts to stay updated on market movements.
Cross-Platform: Available on both Android and iOS, with a web version for desktop users.
Pros:
Low brokerage charges.
Advanced charting tools.
Real-time market data.
Cons:
Customer support frequently faces criticism for its lack of responsiveness.
Does not support IPO investments.
Charges: Upstox Pro charges a fee of Rs. 20 for each transaction, whether you’re trading in equity delivery, intraday, futures and options, or currencies.
5. Paytm Money
Overview: A wide range of investment opportunities is available through Paytm Money, a dynamic trading application.
Key Features:
All-In-One Platform: Supports investments in stocks, mutual funds, and NPS.
Brokerage Offers: Provides attractive brokerage offers like Rs. 500 free brokerage for new users.
User Interface: Simplistic design that is easy to navigate.
Customer Support: Known for reliable and prompt customer support.
Pros:
Zero commission on direct mutual funds.
Easy account opening process.
Excellent customer support.
Cons:
The app interface can sometimes be slow.
Limited advanced trading features.
Charges: Paytm Money applies a fixed fee of ₹15 for each intraday trade you execute.
6. 5paisa
Overview: 5paisa is a well-known discount broker that offers a cost-effective trading solution.
Key Features:
Auto Investing: Offers automatic investment solutions for a seamless and effortless experience.
Trading Options: Supports trading in equities, derivatives, commodities, and currencies.
Research Tools: Offers various research tools and recommendations.
Customer Support: Provides 24/7 customer support.
Pros:
Low brokerage charges.
Comprehensive trading options.
Regular offers and discounts.
Cons:
Limited support for e-wallets.
No commodity trading option.
Charges: 5paisa applies a consistent fee of ₹20 per order, no matter which trading segment you’re using.
7. ICICI Direct
Overview: ICICI Direct, part of the ICICI Group, stands out as a top trading platform, providing investors with a diverse array of investment opportunities.
Key Features:
Research and Analysis: Provides detailed research reports and analysis tools.
Investment Plans: They offer a variety of investment choices, each bringing its own unique features and benefits.
User Interface: Easy to use with features like swipe-to-buy/sell.
Pros:
Extensive research and analysis tools.
Reliable customer support.
Easy order placement.
Cons:
Higher brokerage charges.
The app can be slow at times.
Charges: ICICI Direct charges Rs. 20 per executed order for equity delivery and options trades.
8. AliceBlue
Overview: AliceBlue offers some of the lowest brokerage charges in the industry, making it an attractive option for cost-conscious traders.
Key Features:
Low Charges: Very low intraday trading charges.
Trading Options: Supports a variety of trading options including commodities and futures.
User Interface: Simple and easy-to-use interface.
Pros:
Low brokerage fees.
Wide range of trading options.
Easy to use.
Cons:
Not very popular.
Limited advanced features.
Charges: AliceBlue charges Rs. 15 per executed order.
9. FYERS
Overview: FYERS is a trading platform designed for professional traders, offering advanced features and tools.
Key Features:
Real-Time Data: Provides real-time market data and streaming quotes.
Advanced Charts: Includes reliable and quick charting tools.
Cross-Platform: Available on both Android and iOS.
Pros:
Advanced trading options.
No brokerage charges for equity delivery trades.
Real-time market data.
Cons:
Poor reviews on iOS.
High deposit charges.
Charges: Every trading segment has a fee of ₹20 per order, FYERS charges it.
10. Edelweiss
Overview: Edelweiss is known for its secure and user-friendly trading platform with advanced features.
Key Features:
Secure Login: Single-touch login using fingerprint authentication.
Charges: Edelweiss charges Rs. 10 per executed order as brokerage.
Best Stock Market Apps in India Along with their Trading Charges
App Name
Key Features
Trading Charges
Zerodha Kite
Simple UI, Advanced Tools, Educational Resources
Rs. 20 per executed order
Upstox Pro
Instant Investment, Research Tools, Price Alerts
Rs. 20 per executed order
Angel One
User-Friendly, SmartAPI, Research Reports
Rs. 20 per executed order
Groww
Free Account Opening, Educational Content
Rs. 20 or 0.05% per order
Paytm Money
All-In-One Platform, Attractive Brokerage Offers
Rs. 15 per executed order
5paisa
Auto Investing, Research Tools
Rs. 20 per order
ICICI Direct
Detailed Research, Investment Plans
Rs. 20 per executed order
Edelweiss
Secure Login, Real-Time Data, Advanced Tools
Rs. 10 per executed order
FYERS
Real-Time Data, Advanced Charts
Rs. 20 per order
AliceBlue
Low Charges, Wide Range of Trading Options
Rs. 15 per executed order
Required Documents for Opening up a Trading Account App?
Opening a trading account through the best trading apps in India typically requires the following documents:
Proof of Identity (POI):
PAN Card (mandatory)
Proof of Address (POA):
Aadhaar Card
Voter ID
Passport
Driving License
Utility Bills (Electricity, Telephone, etc.)
Bank Proof:
Canceled cheque
Bank statement
Passbook copy
Photographs:
Recent passport-sized photographs
Income Proof (for derivatives trading):
Salary slip
Income tax return (ITR) acknowledgment
Form 16
These documents are required for KYC (Know Your Customer) compliance and to ensure the authenticity of the account holder.
Key Differences Between Online and Offline Trading?
Online Trading
Offline Trading
Accessible via internet-enabled devices anytime
Requires physical presence or phone calls
Faster due to automated systems
Slower due to manual processes
Generally lower brokerage fees
Higher brokerage fees
Minimal transaction costs
Higher transaction costs
Fewer hidden charges, more transparency
More potential hidden charges
Lower service charges
Higher service charges
High convenience, can be done from anywhere
Lower convenience often requires broker interaction
Conclusion
Your trading experience and success can be greatly influenced by choosing the right trading app. The trading apps listed above offer a range of features and benefits, catering to different types of traders from beginners to professionals. When choosing a trading app, take into account things like the user interface, brokerage charges, trading options available, and customer support. By evaluating these aspects, you can find the trading app that best suits your needs and preferences, enabling you to make informed and profitable trading decisions.
FAQs
What are the expert-recommended top trading apps for beginners?
Beginner-friendly trading apps include Groww, Zerodha Kite, and Paytm Money due to their intuitive interfaces and educational resources.
What documents are required to open a trading account through a trading app?
Typically, you need a PAN card, proof of address (Aadhaar, Voter ID, Passport, etc.), bank proof (canceled cheque, bank statement), and a recent passport-sized photograph.
Are there any charges associated with using trading apps?
Yes, most trading apps charge brokerage fees per trade, which can vary from app to app. Other potential charges include account maintenance fees, transaction costs, and service charges.
Can I trade in derivatives using these trading apps?
Yes, many trading apps support trading in derivatives, but you may need to provide additional income proof such as salary slips or ITR acknowledgments.
How secure are trading apps for transactions?
Trading apps use advanced security measures, such as encryption and two-factor authentication, to ensure the safety of your transactions and personal information. Always choose reputed and regulated trading apps for added security.