Gone are those days when we had to call share brokers and book IPOs or trade on stocks of profitable companies. With everything going online, shares and debentures can also be transacted over the internet with the ease of your smartphone. And it has become possible after the introduction of trading apps in India.
Trading is rapidly becoming popular as the government is capitalizing on our economy. An Indian can drive the maximum out of his hard-earned money by investing in stocks or mutual funds. However, companies like Nykaa and Paytm have recently released their IPOs, and many companies have proposed going public shortly.
So, a trading app will make your work convenient if you also want to get your hands on any IPO allotments or randomly invest in some stocks. All you have to do is search for a suitable mobile application for yourself, open a Demat account if you don’t have one, and get started. Here is a list of some top trading apps you can initiate.
List of Best Trading Apps in India 2023
- Groww
- Upstox
- Kite By Zerodha
- 5Paisa.com
- Angel One By Angel Broking
- Motilal Oswal
- IIFL Securities Online Trading
- HDFC Mobile Trading App
- Edelweiss
- Sharekhan
1. Groww
With 15 million users all over India, Groww is one of the simplified trading apps in India. Using it, you can invest money in equity and mutual funds. It also allows for a Systematic Investment Plan (SIP) with an SIP Calculator.
To get started, you can open a demat account on Groww, which is completely paperless and takes a few minutes to apply. However, it has a feature for options trading, including intraday. Applying for IPOs is almost child’s play in Groww.
2. Upstox
It is one of the top-notch trading apps in India, trusted by millions of users nationwide. Moreover, a well-known industrialist and philanthropist, Ratan Tata, invested in Upstox. Therefore, you will have no complaints regarding the brokerage charges as it is the best in this segment.
Previously, the app was named RKSV Securities. At that time, users were not happy with their online platform. However, RKSV changed itself to Upstox and did many reforms. As a result, the mobile app has an excellent user interface with several versatile features to help investors.
3. Kite By Zerodha
The application made trading through smartphones a familiar term for Indians. However, Kite By Zerodha’s most significant advantage is its simplicity. The developers have kept the user interface minimalistic to help non-technical users grip the features.
Another great aspect of Kite By Zerodha is its sleek design, which makes it lightweight and doesn’t need much mobile data to load the contents.
There is also a zero brokerage term if you don’t sell your stock instantly after buying it. Kite By Kite By Zerodha is a complete suite of trading features.
Also Read- Best Stock Market Simulator Apps
4. 5Paisa.com
Our next inclusion, 5Paisa.com, is by India Infotel. The plus point of this app is that you don’t have to sign up as a regular user for trading in it. Instead, users can use 5Paisa.com just by creating a guest account.
Moreover, one will get stocks, Mutual Funds, insurance policies, and other investment options under a single roof.
Recently, 5Paisa.com has introduced an auto investor feature that helps you buy suitable stocks per your investment goals.
However, the brokerage charges are high for trading in this app. For example, a delivery charge is levied each time you buy stocks using 5paisa.com. But still, the features are worth considering the extra charge you pay.
5. Angel One By Angel Broking
Another trusted name among online trading platforms is Angel Broking. It is a stockbroking entity that has been providing services for three decades. In addition, the charges are also comparatively low compared to other alternatives.
For example, previously, investors had to consider paying a fraction of the trade value each time they invested in Angel Broking, but these charges are now reduced.
Moreover, like 5paisa.com, you will get insurance policies, mutual funds, and systematic investment plans in a single mobile application. Additional features like news, live updates, and Stock Analysis are available in Angel Broking in mobile applications. However the only downside of the excellent trading platform is its interface, which is not smooth.
Motilal Oswal is a major player in the online and offline trading sectors. With a reputation of several decades, the broking house provides some of the swiftest transactions of stocks through its online mobile platform.
In addition, the trading app has integrated AEC, an algorithm-based investment strategy for better convenience.
With this excellent app functionality, you can avail of Bank transactions in a single click.
Moreover, the stock exchange chart shows you the stock price history ranging from 5 years to 1 minute. Lastly, the intuitive user interface will amaze you with its simplicity.
7. IIFL Securities Online Trading
If you want a mobile application, a stock trading tool and an investment advisor, then IIFL Securities Online Trading will be a perfect choice.
The app offers expert tips from some of the top market experts in India. In addition, you will get all equity, FXO, commodity, And currency stocks to diversify your portfolio.
One can apply for IPOs through IIFL Securities Online Trading of companies going public.
If you face any problem while operating the app, the support team will address your problem. However, iPhone users may face problems related to storage as the iOS app is a bit large.
8. HDFC Mobile Trading App
India’s number one private banking sector, HDFC, recently launched a mobile trading app. The app has paid particular attention to maintaining the security features, as you must pass a biometric authentication and face recognition before accessing it.
Moreover, additional functionalities like real-time chat, updating lists of trading stocks, etc., are also available.
The app also features Investment plans in gold and NCD. Like IIFL, a highly efficient support team is also ready to solve technical issues using the app.
However, the user interface is poorly synchronized, creating some navigation problems.
9. Edelweiss
This is the simplest trading app you can avail of for trading stocks in India. With a high rating of 4.5, the Edelweiss online chatting app offers some best-in-class features that investors will not find anywhere else. For example, the low brokerage charges, free online Demat account creation, and more.
Not only online, but Edelweiss is also an excellent network of brokers offline, spread all over the country.
As a result, investors get several options like equity, derivatives, currency, ETFs, etc., to invest in. The only disadvantage is its size, slightly higher than its competitors.
Sharekhan is one of the oldest stock broker firms. Right now, it has millions of quality customers for many facilities and features.
Whether you want to invest long-term in stocks, SIP, mutual funds, or short-term positional gain, you can do both through equity and indices.
Alongside trading and investing, you can research the market, stocks, mutual funds, and any other investment option.
One of the best things I love about the platform is its online resources to learn about investing and trading. Also, you will get a support system to manage your portfolio from their certified member.
