Top 10 Best Trading Apps In India

October 13, 2023
trading
6 min read
best trading apps

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.
Trading App Equity Delivery Brokerage Charges Equity Intraday Brokerage Charges F&O Futures Brokerage Charges F&O Options Brokerage Charges
5 Paisa  Rs.20/trade Rs.20/trade Rs 20/trade Rs 20/trade
Zerodha Kite Nil  0.03% or Rs. 20/executed whichever is lower  0.03% or Rs. 20/executed whichever is lower  Rs. 20/executed
Groww 0.05% or Rs. 20/executed whichever is lower  0.05% or Rs. 20/executed whichever is lower  Rs. 20/executed Rs. 20/executed
 ICICI Direct 0.55% 0.05% 0.05%  Rs.95
Angle One No brokerage up to ₹500 or the first 30 days. Lower of ₹20 or 0.03% /executed after No brokerage upto ₹500 for the first 30 days then lower of ₹20 or 0.03% /executed  ₹0 brokerage up to ₹500 for the first 30 days ₹20 per executed order after ₹0 brokerage up to ₹500 for the first 30 days ₹20 per executed order after
Motilal Oswal 0.20%  0.02%  0.02%  Currency and Equity- Rs. 20
Upstox Lower of ₹20 per order or 2.5%  Lower of ₹20 or 0.05%/ executed   Lower of ₹20 or 0.05%/ executed   Rs. 20/executed 
Dhan Nil  Lower of ₹ 20 or 0.03%/executed Lower of ₹ 20 or 0.03%/executed Rs.20/executed 
INDMoney Rs.20 or 0.05%/executed  Rs.20 or 0.05%/executed  Rs.20/executed Rs.20/executed
Mstock Zero brokerage fee for a one-time charge of Rs.999  Nil NIl NIl

A Step-by-Step Guide to Download a Trading App

Here is a step-by-step guide to downloading a trading app. 

  1. Download your preferred online trading app.
  2. You can upload copies of the required documents and register with the trading app. 
  3. 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 ProofDocuments related to Bank AccountsDocuments for Address Proof
Additional Documents
  • PAN card
  • Voter’s ID
  • Passport
  • Driving license
  • Aadhaar card
  • Six months’ bank statement
  • Salary slip (for 3 months)
  •  Income tax return 
  • Cancelled cheque
  • Passbook
  • Account statement
  • Landline bill
  • Electricity bill
  • Bank statement
  • Ration Card
  • Passport
  • Voter’s ID
  • Registered lease or sale agreement
  • Driving license
  • One passport-size photograph
  • Signed paper

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. 

  1. Easy-to-navigate interface 
  2. Real-time market data for quick judgments to leverage market conditions 
  3. Robust security measures like encryption, two-factor authentication and privacy settings 
  4. Low fees and commission charges 
  5. Integrated advanced analytical tools for investors to plan trading strategies 
  6. In-app educational resources such as webinars, blogs and tutorials 
  7. 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. 

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.

You may also like

LenDenClub is India’s largest Peer to Peer lending platform which started operations in India in 2015. We have been helping lenders diversify their portfolio beyond traditional investment instruments ever since.

About

Lending

Resources

*Calculated as per the last 6 months’ average returns by lenders who lent for 12 months tenure

LenDenClub, owned and operated by Innofin Solutions Pvt Ltd (ISPL) is registered as a peer-to-peer lending non-banking financial company (“NBFC-P2P”) with the Reserve Bank of India (“RBI”). The Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Innofin Solutions Private Limited, and does not provide any assurance for repayment of the loans lent through its platform.

LenDenClub is an Intermediary under the provisions of the Information Technology Act, 2000 and virtually connects lenders and borrowers through its electronic platform via the website and/or mobile app.

The lending transaction is purely between lenders and borrowers at their own discretion, and LenDenClub does not assure loan fulfilment and/or lending simple interest. Also, the information provided on the platform is verified or checked on the best efforts basis without guaranteeing any accuracy of the data/information verification. Any lending decision taken by a lender on the basis of this information is at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower, fully or partially. The risk is entirely on the lender. LenDenClub will not be responsible for the full or partial loss of the principal and/or interest of lenders’ lending amounts.

*This is an annualized yield and is subject to the maximum FMPP tenure, which is 5 years. P2P lending is subject to high risk and may cause an entire loss of principal.
 

*P2P lending is subject to risks. And lending decisions taken by a lender on the basis of this information are at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower.

Facebook X-twitter Instagram Linkedin

© 2024 LenDenClub by Innofin Solutions Private Limited | CIN: U74999MH2015PTC266499

Sign Up