Mobile Trading Apps in India - Overview
Natasha Sinha, a 35-year-old employee in one of the leading eCommerce companies in Bangalore started trading in the stock market as a hobby. By time though, this hobby slowly turned into a new money making stream in her life. However, since most of her day goes into the office work - she gets minimal time to trade regularly and more importantly to enter her trades at the "right" time i.e. when the price is right.
Rakesh Patel, a businessman from Surat has to leave his factory site everytime his stock price changes lucratively to quickly reach his cabin where he has the trading terminal installed. However, most of the times, he misses out on the potential profit he could have made if he had traded at the right moment.
You understand what they are missing in their lives, right?
A mobile trading app!
Based on a qualitative and quantitative analysis, these are the top 6 mobile trading apps in India (in no particular order):
The mobile app from 5Paisa is one of the best performing mobile trading applications in India when it comes to performance, the speed of order execution and user experience. With this mobile app, you can trade across multiple segments and also invest in mutual funds as well as Insurance. Pretty exhaustive in kind of features offered, in a sense.
The best part is that even though 5Paisa is a discount broker, it provides quick tips at a technical level and fundamental calls within the mobile app for its users. The app comes with a guest login as well, thus, providing potential users with an insight into the features the offers.
Some of the features of the app are:
- Auto Investor feature provides users information with the kind of entities one must trade/invest in with the time limit as well.
- Heatmaps, technical indicators, charting feature allows users to perform a quick technical analysis.
- The app is known for high security and is thus, one of the reliable applications in the industry.
- Multiple communication channels offered when it comes to customer service.
Fyers is one of those stock brokers in India that has shown immense focus when it comes to technology and offering optimal user experience to clients through its platforms. Their mobile app is no exception and has consistently performed well at multiple levels.
The best part is that Fyers is most likely one of the youngest companies within discount broking space in terms of time but they are already been counted as one of the best ones when it comes to technology and performance of their trading platforms.
Kite is a mobile app recently introduced by Zerodha, one of the top discount brokers of the country. The app is known for its interactive user experience and ease of use. Some of the features the app comes up with are:
- Multiple market watch provision with detailed live market information
- Advanced technical charts with more than 100 indicators for quick analysis along with 6 different chart types and 19 drawing tools
- Smart search box functionality that instantly searches hundreds of thousands of instruments and contracts across exchanges
Kite is known for its light weight and in fact is one-third the size of a lot other mobile trading apps.
IIFL Markets was one of those mobile trading apps that got the most positive responses from the users in our research. This mobile app was launched by the financial services veteran India Infoline. Its unique features such as 'One Swipe Trading' considers the time aspect related to trading and allows the clients to place the order with just a single swipe. Some of the other features are:
- Clients can apply for IPOs or OFS through their smartphones.
- Comes with a guest login that allows non-clients to browse through some of the basic features to understand how the mobile app works
- The Stock watch feature allows the user to keep user's selected stocks right in front on the home screen.
Another unique feature of this mobile trading app is that it allows multiple Stock Watchlists with each one of those allowing the user to accommodate up to 50 Stock market scripts at one point in time.
Also Read - Best Trading Platforms in India