Best Mobile Trading Apps in India 2020
Technology has taken over each and every field today and stock broking is not left behind in the same. Having a good, fast, and user-friendly trading app is not a luxury anymore. It has now become a necessity and a common expression from the stock brokers these days.
The number of investors opting for mobile trading is increasing tremendously. Hence, a lot of leading as well as upcoming stock broking firms are inclined towards launching mobile trading apps. Providing a useful trading app has become of the basic necessity of stock brokers due to their increased demand in the market.
Best Trading Apps in India
A best mobile trading app is not only the one which is fast, but is the one that is a single point of solution for all your trading needs.
When looking for the best trading app one should look for features like:
- Inputs from the existing clients of different stock brokers
- The ease of using app, the app speed, users’ trading experience, and the usability of the app.
- Number of downloads of the app on Play store and apple store
- App features
- User ratings
Here are 5 best trading apps in India which the investors can consider before downloading the app and finding the right stock broker for themselves.
- Zerodha Kite Mobile Trading App: Zerodha, one of the top discount brokers in India, recently launched its new mobile trading app called Kite. The app soon became popular for its interactive user interface, excellent user experience, and the ease of using the app.
Top Features of the App:
- It offers the facility of multiple market watch with live market information in detail.
- The app provides advanced technical charts with around 100 indicators, 6 different types of charts, and 19 drawing tools. These charts help investors in quick analysis and decision making.
- The app offers smart search box functionality. The function helps in immediately and instantly searching for thousands of instruments and contracts across different exchanges.
- It offers live streaming of the stock market data
- The app also provides historical data through charts.
- It allows dealing on various order types including AMO, bracket orders, cover orders, and much more.
The few concerns which the investors face while using the app include:
- Network disconnection errors at few point of time
- Issues in deleting or editing the scripts from market watch
- Lags during chart loading were experienced frequently by the users.
- 5Paisa Mobile App: The mobile trading app introduced by the 5Paisa is claimed to be one of the best mobile trading apps. The app is rated good on its performance, user experience, and order execution speed. The 5Paisa mobile trading app allows investing across multiple segments including mutual funds as well as insurance. The app comes with the guest login facility and provides tips at technical as well as fundamental calls within the mobile apps for users.
- The app comes with auto investor feature that provides the users with the information regarding the kind of the entities one should invest in.
- The app is highly secure and reliable in the industry.
- It provides heatmaps, technical indicators as well as charting features in order to assist investors to perform quick technical analysis.
- The app offers multiple communication channels to reach out the customer services.
- The mutual funds investment portfolio can be easily customized by the users.
Some concerns related to the app are as follows:
- The app required high speed internet for smooth operation especially when loading charts.
- There are no 15 min time frame candles.
- Kotak Stock Trader App: The Kotak Stock Trader app is provided by the Kotak Securities. The app has integration with feeds from the Times of India, Economic times, and Money control which is shown to the clients in the app based on their preferences.
- The app provides live Bloomberg TV which the users can watch live 24*7 and make trade related decisions.
- The app comes with a unique feature of ‘my investments’ which shows the investors all the investments made on different trading platforms.
- It offers added features like live stock market updates, market watch lists, and many other advanced features.
- There are complaints that it is difficult to identify features on the mobile trading app.
- The app needs a good internet to operate smoothly.
- There is no list available for stock selection. The users are required to write the scrip to select the stock.
- Upstox Pro: Upstox is one of the leading discount brokers in India who provides advanced trading platforms to its customers. The Upstox Pro app is the app introduced by Upstox.
- The app offers different chart types such as the candlesticks along with various drawing tools. These charts can be easily customized by the users as per their analysis.
- The app provides historical data for the last ten years to the users.
- Users can set and customize the app alerts and notifications as per their requirement.
- There are more than 100 technical indicators on the app for assisting in decision making.
- Users can set limited number of price alerts for instant updates.
- It provides the facility of creating multiple customized watchlists.
Users of the app have following concerns:
- Back office is not available on the app for the users.
- It is difficult to check the details of the bank account linked with the account on the app.
- It is difficult to navigate between the menus.
- The search option is missing from the guide making it a cumbersome process.
- Fyers Markets: Fyers is a stock brokers who has its prime focus on providing best in class trading technology and optimum user experience when talking about a mobile trading app. Being a young company in the stock broking industry, Fyers has managed to keep up its performance and technology promises with its customers.
- The app provides historical data for more than 20+ years.
- The app performs pretty well even on low internet connection bandwidth.
- The app offers wide range of data options along with multiple features for technical analysis.
- The app also provides multiple watchlists, stock screeners, and heatmaps.
- It also offers options calculator.
- The app misses out on regular updates from the broker.
- There is no price alert feature provided in the app.
- There is no historical charting available for fundamental analysis.
There are various apps provided by different stock brokers. Looking for the best mobile trading app has become an essential requirement due to the shift in the trading practices to mobile trading. Hence, it has become important for the brokers to provide an app that is smooth and convenient to use and comes with a good bunch of features. We can also say that the usability and the experience of using the mobile trading app plays an important role in choosing the best discount broker for oneself.