Do you know that the 2016-started 5paisa stockbroker already has over 5 million mobile app users, and 70% of the business comes from their mobile app compared to 30% from their desktop application?
After new margin rules by SEBI, the technology is the only criteria to compare all the stockbrokers as all of them should give the same leverage and most charge the same brokerage.
Due to this change, all the brokers have created/modified/updated their apps to stay top in the competition. However, because of many trading apps, traders can get some confusion to decide the best trading apps and brokers.
Hence, we have decided to shortlist the top-10 trading apps in the Indian market conditions.
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Kite Zerodha App
Kite Zerodha app is a tiny version of the Zerodha Kite trading platform, which comes with biometric access. One can enable fingerprint access in the settings tab after the login.
Kite App has two modes – 1) Light and 2) Dark
Traders can pick either the light mode or the dark mode based on their convenience.
Kite app also provides two charting options – 1) ChartIQ and Tradingview. By default Kite app will have chartIQ as its charting solution. But a trader can switch to tradingview to access the advanced features offered by tradingview.
Kite app is simple and effective to use. The profile tab lists all the useful references, including a link to back-office reports, user manual to use the app, and settings.
The user manual explains all the steps to use the app, and it also lists all the Zerodha related apps such as smallcase, sensibull, etc.
However, the kite app has two drawbacks – 1) It has received only 4.0* ratings in the play store, and 2) Margin details are missing in the app.
Money Control App
Reliance-owned Money Control is another leading app used by most Indian traders. Initially started by Victor Fernandes and Sangeeta Fernandes, but E-18 (a subsidiary of the TV18 channel) acquired in 2000, and later, Reliance Ind take over TV-18.
In the last 10 years, moneycontrol has become India’s most prominent finance-related website with over 100 million+ views every month.
Moneycontrol’s home page displays the live reading of all the important indices of the Indian Market. Besides, it will also show the market movers, commodities, and currencies’ variation.
Its markets tab shows all the top gainers, losers, 52-week high & 52-week low stocks. In addition, its news tab gives all the valuable financial-related news to the readers.
Moneycontrol pro version comes with a fee of Rs.49 per month. In addition, the pro version provides an ad-free experience, interviews of successful traders, direct access to editors, and other helpful information.
Overall, it is a handy app for traders and investors. The only drawback is that many users faced issues with accessing the moneycontrol app for the first time. One has to clear the cache memory and restart the phone to access the app.
Upstox App
Upstox is the second-largest broker (in terms of active clients) backed by veteran industrialist Ratan Tata and Tiger Global VC. It is the fastest growing discount broker after Zerodha and recently sponsored Indian Premier League (IPL) 2021.
Formerly known as RKSV Securities, Upstox was founded by Ravi Kumar, Kavitha Subramanian, and Shrini Viswanath in 2008.
The Upstox app is highly user-friendly, and all the content is appropriately organized. For example, its watchlist page displays the price variations in the listed stocks along with a small chart.
It also lists all the available investment vehicles such as mutual funds, e-gold, and IPO. Similar to Zerodha, it also supports both dark mode and light mode.
Apart from easy navigation, it also supports the ‘alert’ option. A trader can set a price alert at some desired levels. Whenever the price reaches that level, it sends an alert in the app and via email. This feature is highly beneficial for working professionals who do day trading.
Tradingview App
Undoubtedly Tradingview is the leading chart provider in the world. Its chart looks elegant and beautiful, and most of the features are available even for free users.
Tradingview gained many users when it signed up with Nasdaq and Bitfinex - a cryptocurrency exchange. It also signed with other Crypto exchanges such as Bitstamp, Binance, Coinbase, etc., and also completely equipped with all the features before the crypto boom, and hence it became the No.1 charting tool among crypto traders.
There are four tabs in the tradingview app – 1) Watchlist, 2) Chart, 3) Ideas, and 4) Profile.
Watchlist and chart tabs are straightforward. The ideas tab is pretty exciting, and many traders publish their trading ideas here. It shows many trading ideas starting from a simple stock to advanced cryptocurrencies.
Some of the features which are available on the website are missing in the app. However, it still a helpful tool for most traders.
Motilal Oswal (MOSL) App
Motilal Oswal Securities Ltd (MOSL) is a Mumbai-based full-service broker which offers its services over 550 cities across India. It is known for its advanced stable technical platform and has displayed fewer downtime issues since inception.
Along with Equity and Derivatives trading, the MOSL app also offers trading in commodities (MCX and NCDEX) and currency derivatives.
MOSL home page displays all the features available in the app. One can access the default watchlist (like Nifty-50 or Sensex etc.), or they can create their own watchlist.
Besides, users can check the news, set alerts, contact customer care from the home page itself.
The app has given more priority to mutual funds. It indicates the business priority towards mutual funds. All the new fund details are displayed along with old funds, and an investor can also start SIP immediately from the app.
Angel Broking App
Angel Broking is another full-service broker that offers both online and offline trading services. It also provides trading services in equity, F&O, currency market, and commodity markets.
Angel Broking app has many advanced features, and most of them are easy to navigate. In addition, it is a secured app that helps both active traders and seasonal investors.
Similar to other brokers’ app, it also provides the features like watchlists, charts, etc. However, it also displays the margin details, which are highly beneficial for day traders.
In addition, it also provides complete info on its research advisory services. It has advisory services on all types of trading, starting from intraday to short-term and long-term trading. The app also offers a 1-month free trial on advisory services for all its users.
ANT Mobi (Alice Blue) App
Bengaluru-based discount broker Alice Blue is giving direct competition to Zerodha and Upstox. It provides ANT Mobi as its mobile trading platform, and many traders are happy with the features and services.
Alice Blue is providing brokerage services for 15 years. As a result, it offers less brokerage fees (flat Rs.15 per order) as compared to any other leading discount broker.
ANT Mobi app allows traders to make trades in BSE, NSE, and MCX exchanges. The famous software company TradeLab (which built Zerodha Pi ) has created this app, and hence it provides a stable and secured trading experience.
ANT Mobi app provides advanced charts with over 100+ indicators. It is also integrated with smallcase, which helps many investors.
This app links to many other sub-apps (Trade Store, Trade school) to educate the traders regarding different aspects of stock market trading. The great thing is it has many educative videos in regional languages as well.
Besides, this app also has screener and price alert features which are helpful tools for day traders.
5paisa App
Mumbai-based 5paisa is the only discount broker to provide research and advisory services in India. It is promoted by IIFL founders, and it has over 12 lakh clients.
It is a flat rate discount broker (Rs.20 per order) that provides trading services in NSE, BSE, and MCX.
The profile page of the 5paisa app gives all the information about the market snapshot, available financial instruments, and back-end reports.
Besides, this app also has in-built educative series for stock, derivatives, and mutual funds. In addition, this app has a separate tab for mutual funds, and it provides in-depth information about a variety of mutual funds products.
The Ideas tab in this app lists hot stocks on all the trading days and recommendations for mutual funds. Overall, it is a valuable app for many traders.
Fyers App
Fyers Securities is a Bengaluru-based online broking company founded by Ex-Zerodha employees. Like Zerodha, it offers a flat fee of Rs.20 per trade in NSE, BSE, MCX, and currency exchanges.
Fyers app is the most stylish and straightforward app among all the apps, and it works perfectly even with low internet connectivity. The app's file size is also significantly less, and hence all the operations in this app are super fast.
This app comes with a Price alert facility which is highly beneficial for day traders. In addition, the ‘Support’ tab contains a lot of FAQs and educative material on trading, taxes, and investing.
It also has many Tradingview Widgets – Economic calendars, Forex, Technical Analysis, and Fundamental Analysis. It also has an options calculator, and traders can simulate many options trading strategies.
The only drawback is that there are no options to invest in mutual funds and IPO stocks. Otherwise, it is a wonderful app built by young professionals for the trading community.
Investing.com App
Investing.com was founded in 2007, and the app provides in-depth information about stocks, F&O, indices, currencies, commodities, and bonds. It is one of the leading financial apps globally, and many Indian traders are using this to plan their trading/investing decision.
Investing app is a great app that provides the flexibility to access any markets right at the tip of your finger. One should have enough patience and skills to search for the necessary info as it provides much helpful information.
The app provides trending stock information across different countries. For example, if you are an Indian trader, then selecting ‘India’ under the trending stocks tab will show all the trending stocks in the Indian market. This feature is highly beneficial if a person prefers to trade in many countries.
Under the profile tab, it shows many valuable tools such as Stock Screener, Currency Converter, Cryptocurrency info, Top Brokers, etc. The app is also integrated with top world-class brokers in the currency and cryptocurrency segment, and a person can take trade within a few minutes in these two segments.
Conclusion
Many traders in India are working professionals, and they may not get time or permission to access their broker site on a desktop or laptop. Hence, they prefer a fast and straightforward app to manage their trading activities.
Most brokers (including many non-tech savvy brokers) have realized this fact, and they have built super-efficient trading apps.
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The blog discusses the best online stock trading app alongside its features and unique propositions. It will be helpful to many