Top 10 Best Trading Apps In India
Have you ever wondered what trading and trading apps are all about? Well, you are in the right place if you are curious to know what it entails.
Trading is an excellent way to ride the market wave and make rapid profits or diversify your investments. It refers to the buying and selling of securities such as company shares, government bonds, currencies, commodities (raw materials), and derivatives by individuals or financial institutions.
The advent of the Internet and mobile phone penetration has made online trading through trading apps take precedence in India.
Online trading apps have managed to change the way traders engage with financial markets. Thanks to the technology, traders can access real-time data, place instant market orders and manage their trading portfolios conveniently on the go.
The Top 10 Trading Apps in India
The top 10 trading apps in India are
1. 5Paisa
5Paisa is an app that is popular among investors for its range of investment options, free research, blogs and educational resources.
Pros
- User-friendly app
- Advanced charting tools
- Customised alerts
- Expert tips and recommendations
Cons
- Limited physical presence
- Intraday and F&O trading are charged
Opening Charges: Nil
Offers: 30 days Power Investor Subscription Free
Best For: Retail Trading
Ratings: 4/5
2. Zerodha Kite
This is a comprehensive trading app featuring advanced technology, deep analytics on daily trade and high-speed data streaming.
Pros
- Beginner friendly app
- Mutual fund investments with no commission
- Leverage indicator and sticky order window
Cons
- No free research reports or tips
Opening Charges: Rs.200
Offers: Refer Zerodha to earn 10% Brokerage and 300 more reward points
Best For: Best Overall
Ratings: 4.5/5
3. Groww
Make use of the 100% digital process to invest in various avenues such as Indian and Us stocks, mutual funds, gold, and fixed deposits.
Pros
- User-friendly app
- Tools like SIP, market watch
- Expert tips and recommendations
Cons
- Limited product offerings
- Lack of charting tools and back-testing
Opening Charges: Nil
Offers: Free registration
Best For: New Investors
Ratings: 3.5/5
4. ICICI Direct
One of the oldest full brokerage services offering free research, equity trading and advisory services.
Pros
- Fast order placement
- A comprehensive range of products
- Analytical tools
Cons
- Not technologically sound
- Non-interactive technical charts
Opening Charges: Nil
Offers: No current offers
Best For: Experienced Investors
Ratings: 4/5
5. Angel One
This trading app is extensive, easy to use, and provides integrated research reports.
Pros
- Relationship managers
- Physical branches
- Multiple trading platforms
Cons
- High brokerage charges
Opening Charges: Zero account opening charges
Offers: Complementary Demat Account
Best For: For heavy traders
Ratings: 4/5
6. Motilal Oswal
An app that integrates multiple investment avenues, user-friendly design and AI trading tools
Pros
- Beginner-friendly, easy-to-use charts
- Extensive mutual fund investment options
- SIP services and live bot
Cons
- Brokerage charges are high
Opening Charges: No account opening charges
Offers: No current offers
Best For: For equities and mutual funds
Ratings: 4/5
7. Upstox
The user-friendly app is equipped with real-time data and analytical tools and offers multiple investment avenues.
Pros
- Advanced charting tools
- Easy account opening
Cons
- Limited physical branches
- Paid intraday and F&O trading
- Customer service can be improved
Opening Charges: Zero Charges
Offers: Free registration
Best For: Intraday/F&O
Ratings: 4/5
8. Dhan
This is a super fast and effortless trading app.
Pros
- Real-time updates
- Trading view charts
- 50% brokerage charge discount for females
- Low brokerage charges
Cons
- Lack of research reports and investment tips
Opening Charges: No charges
Offers: Earn 20% brokerage every time your referral trades
Best For: Long term investors
Ratings: 4.5/5
9. INDMoney
This is an easy-to-use comprehensive Super Finance app with the backing of foreign investors.
Pros
- You can trade with zero bank balance
- Investment in US stocks
- Low withdrawal fees
- Safe and secure app
Cons
- Customer service needs improvement
- The premium version of the app does not offer value for money
Opening Charges: Nil
Offers: Invest in US Stocks for as low as Rs.100 and get Rs.250 cash back for first deposit
Best For: Investing in US stocks
Ratings: 4.5/5
10. Mstock
The app allows order placements with a single click and offers several investment options
Pros
- Smart calculators
- No brokerage fees
- Unlimited orders possible
Cons
- No physical branches
- No option to invest in agricultural commodities
Opening Charges: No brokerage for Rs.999 or low brokerage charges for Rs.149.
Offers: Earn Rs.555 for every referral
Best For: Zero Brokerage
Ratings: 3.6/5
What are the Brokerage Charges of the Best Trading Apps in India?
Online stockbrokers help investors to trade through trading apps for a negligible brokerage fee. The top ten trading apps in India have the following brokerage fees.
A Step-by-Step Guide to Download a Trading App
Here is a step-by-step guide to downloading a trading app.
- Download your preferred online trading app.
- You can upload copies of the required documents and register with the trading app.
- After verification with OTP, you might be prompted to pay account opening charges if any at this stage to log in or you can start trading immediately.
Documents Required for Opening an Account with a Trading App
The following documents are required to open an account on a trading app.
Documents for Proof of Identity | Documents for Income Proof | Documents related to Bank Accounts | Documents for Address Proof | Additional Documents |
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Which App is Best for Trading? Points to Ponder
It can be difficult to sort through numerous options and select the best trading app in India. Use these factors to choose an online trading app that aligns with your trading goals.
- Easy-to-navigate interface
- Real-time market data for quick judgments to leverage market conditions
- Robust security measures like encryption, two-factor authentication and privacy settings
- Low fees and commission charges
- Integrated advanced analytical tools for investors to plan trading strategies
- In-app educational resources such as webinars, blogs and tutorials
- Dedicated customer support
Final Thoughts
Despite stock market investments being fraught with risks there has been a burgeoning interest in trading amongst Indian retail investors. One of the prominent reasons that can be attributed to this is the growth of online trading apps.These apps have made trading a seamless process and the top 10 trading apps in Indiaoffer innumerable features for investors of all levels. However, you need to carefully analyse the trading apps based on several factors and choose the best trading app in India for success in financial markets.
Frequently Asked Questions (FAQs)
1. How is trading different from investing?
Trading involves short-term strategies to optimise returns on an ongoing basis. Investing is a focused long-term approach to building wealth and capital growth.
2. How can I make a profit by trading?
The right strategies, risk mitigation techniques and adequate knowledge about the market trends can help in earning profits.
3. What are the risks involved in trading?
You can suffer substantial capital losses while trading due to a lack of adequate financial knowledge, emotional decisions and financial market volatility.
Team LenDenClub
LenDenClub is India’s largest alternate investment platform which started operations in India in 2015. We have been helping investors diversify their investments beyond traditional investment instruments ever since.