(Newswire.net — April 21, 2023) —
Due to the widespread availability of inexpensive smartphones and low-cost data plans throughout India, millions of Indians have begun showing interest in stock markets and FX trades. Since most trading firms have released their applications, millions of trading enthusiasts have improved their knowledge and sharpened their skills with a few taps on their smartphones.
But with so many apps accessible for download, it might be challenging to know which trading app is genuine and provides excellent features at affordable prices.
Fortunately, after a comprehensive review of hundreds of trading apps, Traders Union experts compiled a list of the best trading apps in India.
Continue reading to learn more.
How to choose the best Trading Apps in India?
1. Before downloading and using any app, research it to confirm that it’s legal and authentic. Cybercrime is on the rise in the country, and it’s easy to locate fake websites of actual stockbrokers and banks, so make sure you get a simple app from a registered stockbroker.
2. Examine the app’s features and benefits. Stockbrokers have varying brokerage fees and features; compare them to see which is best for you.
3. Examine the various assets available on the platform. Aside from equities, stockbroking applications allow you to trade or invest in commodities, options, IPOs, mutual funds, and other financial instruments. Select the app that best suits your needs.
4. Another factor to examine is the app’s functionality. The app should not be overly tricky; you should be able to move rapidly between all settings. It should be able to place orders quickly. It is also preferable if it offers you equity research and pertinent news, as this information influences your trading decisions.
5. Some apps allow you to try out a demo before creating an account. This is advantageous if you are new to the world of stock trading.
Using the above criteria, Traders Union experts came up with the list of best trading apps in India; they are;
1. RoboForex-
RoboForex has a well-deserved reputation as one of the top trading apps in India and worldwide. Its key advantage is that it allows traders to engage in low-cost Forex and stock trading. You may trade over 3.000 stocks and 8.000 CFDs on stocks with the RoboForex R Stock Traders app. This program has comprehensive charting tools as well as automated trading capabilities.
2. IC Markets
IC Markets is an Australian trading platform that admits traders from all around the world, including India. IC Markets serves both regular and institutional investors and offers a variety of trading choices such as indices, futures, commodities, and currency trading. The software allows you to use a demo account to acquire confidence.
3. Exness
EXNESS is one of the best trading apps in India. Its user base has steadily risen, with hundreds of thousands of traders calling it home. EXNESS provides both the traditional MT4 and MT5 trading platforms. These platforms are well-known for their easy-to-use design and customization features.
4. Interactive Brokers
Interactive Brokers has the best apps for international stock trading. There are no account opening fees, and there is no minimum activity cost. There are no fees associated with the DEMAT account. Interactive Brokers provides low-cost trading in USD Equities/ ETFs starting at USD 0.005 per share. You can also trade at the NSE for Rs. 20 per order.
5. Angel Broking.
The ARQ function of the Angel Broking app is an advanced artificial intelligence tool that assists you in making informed investing selections. Based on your input, the software will recommend an appropriate stock, debt, mutual funds, and ETFs portfolio. The app will next ask you for the lump sum amount you are willing to invest. Following that, you would receive more precise recommendations for stocks or funds to consider for investing.
6. Zerohda
Zerohda is the best app for trading Indian Stocks. The app is governed by the Securities and Exchange Board of India, which makes it even more trustworthy. The Zerodha app has a meager fee, and if you are already a Zerodha client on another platform, you can use the app for free. The app charges no inactivity or withdrawal fee, but there is an account fee.
7. IG
IG Markets is a 100% safe app regulated by 17 national agencies and listed on the London Stock Exchange.
8. FBS
FBS is a perfectly safe program that has grown in popularity in Asia. It is governed by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC), and the South African Financial Sector Conduct Authority (FSCA).
9. CMC Markets
On the EUR/USD, the app offers a spread of 0.70 pips. With reduced trading costs, traders benefit from powerful order management features and the CMC market’s innovative interface.