This article expounds on the stock broker apps in India. Read on.
Who is a Stock Broker?
A stockbroker is a licensed professional or an intermediary with the authority to buy and sell stocks or other securities for other investors (institutional clients) through a stock exchange or over the counter in return for a commission.
Features of Stock Brokers
- Research and analysis: Stock brokers conduct a clearly defined market exploration of stocks.
- Market observation: Stock brokers tend to monitor the stock market execution.
- Financial news: Stock brokers update their clients on the latest financial news and tax legislation.
- Provision of both online and offline services: Unlike some brokers based on online or offline services, stock brokers offer both to make trading easier and quick for their clients.
- Trading platforms: Stock brokers have good and easy-to-use trading platforms for their clients.
Stock Broker Apps Meaning
Stock broker apps are platforms a stock brokerage firm offers to investors and traders to enable their clients to place trades, note the achievement of their investments, and real-time access quotes.
The apps make trading easier.
The Benefits of Stock Broker apps
- It reduces the activities of intermediaries: The app enables the investor to trade without involving any middleman, unlike the full-service brokers you must meet before any trade commences.
- It gives investors control: Investors are given complete control over their investments. You can trade whenever you want, provided you do not interfere with the rules guiding the broker.
- Observing your investments in real-time: It allows its clients to monitor their investment performances: their gains and losses in real-time.
- Less fee: Trading online is expeditious and charges lesser, unlike when a broker executes your trades.
The Risks of Stock Broker Apps
- Lack of personal relationships with brokers: Online trading creates a distant relationship between traders and brokers.
- Internet-dependent: Online trading relies on an internet connection. If automatically the connection is interrupted or too slow, you can lose out on a potentially paramount or lucrative trade.
- Easier to invest too quickly: Online trading is so easy; thus, a trader can primarily push a button resulting in the risk of overinvesting or poor investment choices. It is prevented by understanding the stocks you purchase and setting up preventive measures in fast-paced markets.
- Delay in Confirmation Statement: Trading online could be frustrating sometimes. Delay in sending confirmation statements might make you trade twice, assuming you did not complete the initial trade. Ensure you understand how to verify trades and review statements before signing into an online investment system.
List of the top 10 Best Stock Broker Apps in India
1. ICICI Direct Markets
ICICI Direct is one of the largest and a good stock brokers. It is an online trading and investment service by ICICI Securities, a publicly listed company promoted by the well-known ICICI Group.
It is one of the best stock broker apps that provides multiple features such as charting and reporting, grid view, top gainers & losers, etc. It is simple to use.
It provides its clients the freedom to trade all types of investment instruments. Their customers may get additional benefits by using the app.
- Features of ICICI Direct
- It has several indicators and charts.
- It offers simple and technical analysis.
- Heat maps to view complex data quickly.
- Multiple watchlists.
- It provides a high range of customization options for the market watch.
Pros of ICICI Direct
- It has technical indicators like RSI, Bollinger, etc
- You can trade different investment instruments.
- It offers additional benefits to its customers.
Cons of ICICI Direct
- It has an additional fee for call and trade.
2. Zerodha Kite App
Zerodha Kite is an all-in-one stock trading solution. One of the best stock broker apps in India that offers a wide range of stocks to trade.
Using the Single Search feature on Zerodha Kite, you can browse through thousands of equity scripts and other financial tools across several trading segments and indices.
0 brokerage across all investments.
Rs. 20 per executed order intraday.
Features of Zerodha
- Easy funds review.
- Real-time market analysis.
- Refined user interface.
- Chart and indicators.
Pros of Zerodha Kite
- It enables quick buying and sales.
- Traders can use Zerodha in 10 regional languages.
- It provides charts and indicators for a market overview.
Cons of Zerodha
- It does not support trading in mutual funds.
- It does not provide a price alert.
- Account opening is slow.
3. Upstox PRO App
Upstox PRO App is an Indian trusted stock broker app that provides its customers with price alerts and analytics/charts.
Upstox provides multiple stock trading options with an easy-to-use device. You can trade in stocks, digital gold, mutual funds, etc.
However, Upstox provides quick and helpful news updates relevant to your investments.
Rs 20/2.5% of net trade value for Equity Delivery.
Rs 20 or 0.05% for Equity Intraday, Currency Futures, Equity Futures, and Commodity Futures.
Features of Upstox PRO App
- Fast trading executions: Upstox PRO App supports and facilitates trading plans.
- Transaction fees: It charges minimal trading fees on transactions.
- Price alerts: It provides its clients with unlimited price alerts.
- Accessibility: The app is easy to use.
Pros of Upstox PRO App
- It provides a universal search tool to find all stocks.
- Instant investing.
Cons of Upstox PRO App
- There is no investment support for IPOs and FPOs.
- A limited number of features from other apps.
4. Groww App
Groww is the simple Demat & stock trading app that allows its customers to open a free Demat account and trade listed stocks in the share market at a low brokerage on stock orders.
Flat Rs. 20/Order for Futures and Options segment.
Flat Rs. 20 or 0.05% per order brokerage for trading.
Features of Groww App
- Portfolio analysis.
- It supports self-directed trading.
- It provides mutual funds.
Pros of Groww App
- Free maintenance and account opening.
- It offers a maximum withdrawal of 50,000 or your 90% of investment per day.
- It provides real-time share prices for all companies.
Cons of Groww App
- Unavailability of advanced order types.
5. IIFL Markets App
IIFL Markets is the only app that provides free research to its customers – with the latest market updates and vital information about their investments.
It has excellent customer support available on call, WhatsApp, email, and many more.
0 brokerage on all equity delivery.
Rs. 20 or 0.05% on equity intraday, equity futures, commodity F&O, equity options, and currency futures and options.
Features of IIFL Markets App
- Free research reports
- Several support channels like call, WhatsApp, intelligent Chatbot, etc.
- It has price alerts and notification settings.
Pros of IIFL Markets App
- It provides intelligent tools for stock trading and technical analysis.
- There is no minimum deposit requirement.
Cons of IIFL Markets App
- It doesn’t offer direct mutual funds.
6. Angel Broking Mobile App
Angel Broking Mobile App was founded in 1987. It is considered one of the best trading apps in Indian because it possesses all the features for all kinds of investors who trade – allows Angel customers to trade/invest online in the Indian stock market.
Rs. 20 per order or 0.25% (whichever is lower) across commodities, forex, futures, and options.
Features of Angel Broking Mobile App
- Portofolio maintenance.
- Support for fractional investment.
- Insurance service is available.
- Market analysis.
Pros of Angel Broking Mobile App
- There is no brokerage on equity delivery
- Effective management of a portfolio.
- Availability of margin accounts
- It provides option trading
Cons of Angel Broking Mobile App
- Trading via calling costs 20 Rupees per order.
- It does not support copy trading.
- It has zero support for e-wallets.
7. 5Paisa Mobile App
5Paisa Mobile App is a stock broker app that allows its customers to trade at BSE, NSE, and MCX exchanges.
It offers auto investing, learning resources, etc.
Flat Rs. 20/order for all types of trading fractions.
Features of 5Paisa Mobile App
- Investment in mutual funds.
- Invest in SIP.
- Robo Advisory – A wholly automated investor advisory system.
- Real-time screening of quotes across all segments.
- Charts for market research.
Pros of 5Paisa Mobile App:
- It charges no commission on mutual funds trading.
- It processes buying and selling with a single click.
Cons of 5Paisa Mobile App
- It does not offer commodity trading.
8. Edelweiss Online Trading App
Edelweiss was founded in March 2009 and is one of the leading online investing and trading portals, which allows you to trade on BSE and NSE.
Its trading app is called Edelweiss Online Trading App, and it supports various technical charting and allows its clients to make a customized watchlist.
Edelweiss Online Trading App charges 10 Rupees per executed order brokerage.
Features of Edelweiss Online Trading App
- Advanced charts to assist clients in gaining insights into market trends.
- It supports mutual funds.
- Research tools.
Pros of Edelweiss Online Trading App
- Free account opening.
- Free maintenance.
- It provides live market news and updates.
Cons of Edelweiss Online Trading App
- It is expensive.
- No bracket orders.
9. FYERS Markets Trading App
FYERS Markets Trading App allows traders to trade stock with no physical barriers.
The mobile app automatically syncs with the web version, so you can access your account from the web or via the mobile app.
It charges flat Rs. 20/order against all departments like derivatives, commodity, equity, and intraday.
Features of FYERS Markets Trading App
- Most appropriate for advanced traders.
- High level of Security Protocol on all levels.
- Charts for market research.
Pros of FYERS Markets Trading App
- Advance trading option
- No brokerage charge for equity delivery.
- It provides historical data of more than 20 years.
Cons of FYERS Markets Trading App
- High depository charges.
- It does not allow trading in mutual funds.
10. Sharekhan App
Sharekhan is the oldest (21-year-old) Indian trading app in the stock markets and a pioneer in Indian internet-based online stock broker. It provides developed charts for market scrutiny and unmatched guidance for novice traders.
It also provides a broader range of products to build a diversified portfolio.
Sharekhan app charges:
0.50% or 10 paise per share or Rs 16 per scrip (whichever is more) for equity trades.
2.50% or Rs 250 per lot on the total premium (whichever is higher) for Options Traders.
0.10% on the first part and 0.10% if settled on any other day for F&O Trades.
Features of Sharekhan app
- Options to invest in mutual funds.
- Suitable for the active trader.
- Charts for market research.
Pros of Sharekhan app
- A minimum deposit is not required.
- Sharekhan app facilitates pay-in and payout options to transfer funds.
Cons of Sharekhan app
- Continuous change of password.
- High trading fees.
Frequently Asked Questions
Who is the Number One Broker in India?
Zerodha has been the number of all the stock brokers in India since 2019.
Which is Safest Broker in India?
Zerodha, being considered the top broker, is also the safest stock broker in India.
It is trusted by millions of clients on NSE and BSE and contributes to the volumes of retail orders.
Which Stock Broker is Best for Beginners in India?
It is ProStocks.
It is considered best for beginners because it offers the cheapest call and trade amount.
ProStocks offers trading through dealers at additional Rs 10 per trade in comparison to other brokers who charge Rs 20 per trade extra for Call & Trade.
Trading apps expedite trading and help investors and traders access the trading in real-time.
Below is a video for more explanations:
- I am a writer and researcher, a practical digital marketer, and a copywriter who communicates value to a society based on years of experience and knowledge in the field.
- LoansSeptember 14, 2023The 7 Best Home Loan Refinancing Offers In Australia, 2023
- InsuranceAugust 28, 2023Top 10 Life Insurance Companies In The Philippines, 2023
- CryptocurrencyJanuary 9, 20237 Best Crypto Exchanges In Sudan 2023
- LoansJanuary 9, 2023The Top 10 Unsecured Personal Loans In Australia 2023