Top 10 Best Trading Apps in India 2024.

Top 10 Best Trading Apps in India 2024 The right trading app can make your success on today's volatile markets. These top trading apps are suitable for all traders, whether you're an advanced trader or a novice looking for simplicity. The best trading apps are at your fingertips to help you explore, analyze and enhance your financial journey. With the widespread adoption of these apps, even newcomers can easily venture into trading. These apps not only facilitate the buying and selling of financial instruments but also offer various other valuable services. All that's required is a stable internet connection to ensure the smooth operation of these trading apps. The online stock trading app industry has experienced exponential growth since the pandemic in 2020. Thanks to faster internet speeds and an increasing interest in financial literacy, mobile applications for stock trading have undergone a transformative evolution. Each day, Indians are witnessing a seamless transition to highly efficient and flexible trading options, all accessible with a single click. List of The Top 10 Trading Apps in India The following is the list of top 10 trading app in India: Names Top Features Fees (Per Trade) Best Offers Paytm Money Zero commission on direct mutual funds Rs.15 No current offers Zerodha Kite Has all the stock trading options Rs.20 Zerodha Referral and Earn flat 10% Brokerage plus Extra 300 Reward Points Angel One Buying and selling of stocks is faster Rs.20 Free Demat Account Upstox App Best for instant investing Rs.20 Sign up for Free and start your investing journey today Groww App Perfect for Beginners 0.05% or Rs. 20, whichever is lower Obtain up to 65% back on your mutual fund investment 5paisa App Provides Auto investing option Rs. 20 30 days Power Investor Subscription Free with 5paisa IPO Offer ICICI Direct App Offers Pay Later option with marginal trading Rs.20 No current offers Edelweiss App Has many advanced trade analysis tools Rs.10 No current offers FYERS One of the lowest trading fees 0.03% or Rs. 20 (whichever is lower) Account Opening is free AliceBlue App Just Rs.15 for intraday trading Rs.15 Trade brokerage-free equity delivery Comparison Between Apps App Name Ratings out of 5.0 Charges Unique Features Paytm Money 5.0 Depending on your account type, varies between 0.0% - 0.15% On trading volumes offers, many free trade analysis tools and pending bonuses Zerodha Kite 5.0 For equity delivery, no charges implied It is an all-in-one trading solution Angel One 5.0 Across any segment, no charges for trade Perfect option for beginners Upstox App 4.8 Rs.20 for per executed orders Advanced charting tools that comes with over 100 technical indicators Groww app 4.6 Rs.20 or 0.05%, whichever is lower, per executed order Completly paperless process to open account 5paisa App 4.6 Rs.20 per trade Has Auto investing option ICICI App 4.5 0.05% brokerage charges With marginal trading, Pay Later option Edelweiss App 4.3 Rs.10 per executed trades Brokerage charges is very low FYERS 4.0 No brokerage charges No account opening charges On investing in mutual funds no commission applied AliceBlue App 4.0 Rs.15 per trade charges Intraday trading charges is lowest Learn about the Best Trading Apps in India- Check the complete details about best trading app features , Charges & 2024 trading app reviews below - PayTm Money Founded as a platform for direct mutual fund investments, which is registered with SEBI as a stockbroker and investment advisor. As a depository participant and member, the corporation is a member of NSE, BSE, and CDSL Features: Maintenance charge is zero Per trade maximum charge is Rs.15 On direct mutual funds, zero commissions apply Equity trading is free Account opening process is fully digital Offers the option of switching from external regular mutual fund to direct mutual fund Pros: Good customer support Simple interface To detremine the mistakes, the app offers free analysis tools Cons: NA Charges: A flat fee of Rs 15 or 0.05% (whichever is lesser) for each executed order as a fixed brokerage model for intraday tradingPer order, maximum brokerage payable is Rs.15 for all segment Zerodha Kite Has advanced trade analysis tools and comes with a very simple user interface, thereby making this all-in-one trading app a suitable option for both beginners and professional traders. Features: All-in-one trading solution Simple interface Makes buying and selling of stocks faster Local and international stocks listed are in large number Pros: Multiple language support Support trading even in weak internet connection Cons: No mutual fund investment option Charges: Across any investments, no brokerage fees are charged Per executed order in intraday, Rs.20 is charged Angle One App One of the most suitable apps for beginners as it offers a simple and easy-to-use interface and ensures better trading by avoiding mistakes through many advanced trade analysis tools. Features: User interface is simple and easy Selling and buying stocks is easier and quicker with this application Also provides the option of investing in mutual funds Pros: Provides the option of investing in IPO in India Investment charges is low Cons: No copy trading feature For e-wallets, no support is provided Charges: Across commodities, forex, options and futures, Rs.20 is charged Upstox Pro Trading app One of the biggest trading applications in India, is also knowns for its huge local and international stock portfolio and its instant investing feature. Features: To get instant updates, n number of price alerts can be defined TFC features Instant investing Pros: User interface is very simple For aftermarket orders, users can set their limits Cons: Using this app, the users cannot invest in IPOs and FPOs Charges: For equity delivery trades, intraday trading, currency, futures, etc., Rs.20 is charged. Groww App One of the best beginner-friendly trading application in India that enables users to open free Demat account and also provides several trading analysis tools. Features: User interface is very interface On mutual fund investments, no commissions will be provided A free Groww Demat account can be opened Pros: With a single click, order can be placed To open your account or to maintain it, no charges required Cons: NRI account not supported High charges for call and trade per order Charges: For equity intraday, equity delivery trades, the fees charged is Rs.20 or 0.50% whichever is less 5paisa App One of the most popular trading applications in India that allows trading at all three big exchanges, i.e., BSE, NSE, and MCX. Features: Provides amazing offers to its customer on regular basis Enables the users to invest in mutual funds Provides auto investing option Pros: On mutual funds investment, no commissions will be provided Price and time alerts can be set by the trader Cons: Commodity trading option is not available Charges: Per order for all forms of trading segment, fees charged is Rs.20 ICICI Direct App One of the biggest trading platforms in India, offers to more than 50 lakh customers online trading and investment services, where account on this platform for free. Features: Provides with features and benefits such as neo plan, prime plan, etc. Just swipe to sell or buy stocks, to ensure speedy order placements Offers analytical tools such as graphs, charting, live P&L statements Pros: With marginal trading option, comes with pay later To buy or sell stocks, user need to just swipe Cons: Login process is slow Reviews on iOS and Android, are not positive Charges: Per executed order for equity delivery, options, etc., fees charged is Rs.20 Edelweiss App Offer real-time streaming of stock prices and comes with simple single-touch login feature. To analyse the market properly, provides many advanced trading tools. Features: Login is allowed using fingerprint Offers many advanced market analysing tools Pros: Transfer of fund is simple Interface is user-friendly To open the account no charges required Cons: Charges high fees for call and trade Charges: For all executed orders as brokerage at just Rs.10 FYERS App Enables users to trade stock without physical barriers and comes with advanced-level trade analysis tools. Features: Reliable and fast streaming quotes Provides real-time data Pros: For equity delivery trades, no brokerage charged Offers advanced-level trading options Cons: Deposit charges is high Reviews over iOS are not positive Charges: Across all segments, such as equity, intraday, etc., fees charged are Rs.20 per order AliceBlue App It offers various trading options, such as commodities, equity, futures, etc., and is one of the lowest brokerage charges in the share market industry. Features: Offers wide range of trading options Intraday trading charges is very low Comes with several trade analysis tools Pros: Simple and easy Intraday trading for just Rs.15 Cons: Not quite a popular application in the share market industry Charges: For all the executed order, charges Rs.15 per order Parameters To Consider While Choosing the Best Trading App in India The following are the significant parameters to consider before choosing the best trading application in India: Opt for reliable and safe trading apps to trade stocks with confidence and peace of mind. To maximize your benefits and enhance your trading experience, choose trading applications with exceptional and unique features. To avoid the hassle of complex manuals, making buying and selling stocks quick and efficient, select a trading app with a simple and user-friendly interface. Opt for applications with the lowest fees to save money in the long run after comparing the trading charges. Every second counts in trading and delays can lead to potential losses, hence, make sure that the trading application has superfast trading speed. Methodology for Identifying the Top Trading App in India Forbes Advisor India conducted an analysis of 30 trading apps within the Indian financial market, and we identified the best-performing apps based on the following criteria: Execution Speed: Whether engaging in intraday trading or other trading activities, the speed of execution is paramount. We assessed the reliability and swiftness of these trading apps to rank them. User-friendliness of the Mobile App: Our selection includes only those trading apps that enable users to execute even the most complex trades through an intuitive and user-friendly interface. These apps are designed for ultra-smooth operation, facilitating the execution of trading strategies most quickly and straightforwardly. Advanced Features and Customization Options: An effective trading app should provide comprehensive support for advanced trading features and be open to user customisation, tailoring the trading experience to individual preferences. Real-time and Live Market Feeds: The availability of real-time market data is crucial to the success of a trading app. This feature can significantly impact the outcome of your trades. Range of Tradable Products: We considered the diversity of products offered by each trading app, including stocks, equities, mutual funds, insurance, IPOs, and more. Trading App Fees: We factored in various fees and charges, such as account opening fees, account maintenance fees, and demat charges, when evaluating and selecting the best trading apps. How Discount Brokerage Apps Operate The following are the steps how the discount brokerage apps work: Online discount brokers facilitate the execution of buy and sell orders for investors and traders, charging a nominal commission in return. They offer user-friendly trading interfaces that simplify the process of placing trades, making it accessible to a wide range of users. Unlike full-service brokerage firms, they do not provide investment-related advice, focusing solely on trade execution. Discount online brokers play a significant role in the fintech industry, offering various online services while minimising physical presence. As of 31 March 2023, the total number of active clients across all stockbrokers on the exchange has reached 4,288,171, with online brokerage clients forming a substantial portion of this total. In contrast to full-service brokers, discount brokerages can provide trading services at considerably lower fees because they do not offer personalised services. These platforms are accessible to investors with varying backgrounds, from novices and homemakers to tech-savvy individuals and seasoned investors, all through online channels. Their cost-effectiveness results from streamlined online operations, significantly reducing overhead expenses. It's important to note that these brokerage firms do not maintain physical branches; their services are primarily delivered online. However, responding to their growing popularity, many online discount brokers now offer personalised consultations as additional subscription-based services. How to Trade Effectively Using Mobile Trading App If you aspire to engage in intelligent trading through mobile apps, it's essential to consider the following guidelines for a hassle-free and seamless trading experience: Choose the App Suited to Your Needs: Select a trading app that aligns with your specific trading requirements and preferences. Conduct Thorough Research: Perform comprehensive research on available mobile trading apps, paying attention to their pricing structures, hidden fees, and features. Make comparisons to identify and choose the best-suited option. Assess App Functionality: Evaluate the app's functionality, including its trading tools, real-time information and updates, intelligent alerts, and customisable features. Ensure that the app offers essential features like multiple watchlists, stop-loss orders, trailing stops, and more. Review App Feedback: Before downloading any app, check user ratings and reviews to gain insights into the experiences of other traders. Prioritise Security Features: Opt for an app that prioritises security with features such as multi-factor authentication, end-to-end encryption, and other security measures to safeguard your investments. Verify Device Compatibility: Confirm that the selected trading app is compatible with your smartphone or laptop. The app should seamlessly integrate with your device to ensure smooth operation. What are the Key Characteristics of Discount Brokerage Apps The following are the key features of discount brokerage application: Cross-platform Accessibility: Trading apps are designed for quick access across various media platforms. They are compatible with both iOS and Android, enabling users to connect to their apps from anywhere and on any device, ensuring a seamless trading experience. Real-time Data Access: Access to real-time data is a pivotal feature of trading apps, making them indispensable for traders and investors. Whether from the comfort of their homes or while working in the office, users can easily trade and invest across various platforms with access to live news, price updates, and other real-time information. For example, real-time data instantly displays price fluctuations of specific stocks, facilitating efficient trading decisions. Alerts and Notifications: Smart alerts are highly valuable features that traders greatly appreciate. These alerts and notifications are crucial in helping traders execute transactions promptly without delays. While some apps may charge for instant alerts and notifications, others may offer them free. High-volume Trading: Trading apps empower users to execute high-volume trades swiftly, enabling them to capitalise on investment opportunities and generate quick returns seamlessly. Online Chat or Live Bot Support: Ensuring customer satisfaction is paramount for the sustained success of any online trading app. Features such as live chat support, toll-free chat options, and 24/7 customer service make investors feel comfortable and allow them to resolve their queries promptly. What are the Advantages of Utilising Trading Apps The following are the advantages of utilising trading applications: Swift Order Execution: Orders can be placed quickly and efficiently through trading apps. Paperless Account Opening: The account opening process is streamlined, eliminating the need for physical paperwork. Real-time Market Data: Trading apps provide access to real-time and live market data, ensuring users stay informed about market developments. Cost-effective: Trading apps typically have lower fees and charges compared to traditional brokerage services. Instant Notifications and Price Alerts: Users receive instant notifications and price alerts, enabling timely decision-making. Historical Charts and Research Reports: Trading apps offer access to historical charts and detailed research reports, aiding in informed trading decisions. Transparent Fee Structures: Brokerage slabs are presented in an easy-to-understand and straightforward manner. Diverse Mutual Fund Options: Users can explore a wide range of mutual funds and benefit from a quick IPO application process. Expert Insights: Trading apps often provide expert insights and up-to-date research reports from brokerage firms, assisting users in making informed investment choices. Differences Between Online Trading and Offline Trading The following are the difference between online trading and offline trading: Online Trading Offline Trading There is no dependency on share brokers or intermediaries Total dependency on share brokers and intermediaries Orders can be placed directly and instantly The trading process is time-consuming and involves intermediaries Access to multiple asset classes (equity, currency, commodity, MFs, IPO) via a single trading app Dealing with multiple asset classes requires contacting different brokers separately Access to research reports, quality advice, and educational resources The user relies on the broker's advice and recommendations Access to live feeds and real-time updates. No access to live feeds and real-time updates Paperless account opening process (trading and demat account) Opening a demat account via a share broker involves a lot of paperwork The entire process is online and digitised, resulting in fast transaction speed Transactions are comparatively slower due to manual intervention Suitable for both new-age beginners and advanced traders and investors Suitable for non-tech-savvy, conventional, and traditional investors and traders Step-by-step Guide to Download Trading App The following are the guide to download trading applications: Step 1: Choose your preferred broker and download their XYZ trading app using your Aadhar-linked mobile number. Step 2: During the sign-up process, create your user ID and password. Ensure you have your PAN number, Aadhar card, and bank account number on hand, as you will need to submit these documents online. Step 3: After providing all the necessary information, you will receive a One-time Password (OTP) on your registered mobile number. Enter this OTP to verify your identity. Step 4: If the trading application requires account opening charges, you may be prompted to make this payment at this stage. If it's a free service, you can proceed directly to log in. Step 5: Once logged in, you can customise your watchlist and begin trading. Documents Needed to Open Trading Account App The following is the list of documents required to open the trading account app: Proof of Identity (Photo ID): PAN card Voter's ID Passport Driving license Aadhaar card Proof of Address (Address Proof): Landline bill Electricity bill Bank statement Ration card Passport Voter's ID Income Proof (Optional): Last six months' bank statement Three months' salary slips Income tax return (ITR) Bank Proof: Cancelled cheque Bank passbook Bank account statement Additional Documents: Registered lease or sale agreement Driving license One passport-size photograph Your signature on a piece of paper