When you are dealing with money, every element of every transaction should be made with care, safety and precision. Online trading apps are popping up everywhere in the Indian market with the rise of investors, but which is the best trading app in India? Choosing the right trading app is important as you are dealing with your hard-earned money and don’t want to lose it.
The preference for online trading app can differ significantly for different types of traders. For novice traders, finding a simple trading app that does the main things right with less clutter is the way to go. On the other hand, seasoned traders like advanced tools and trading features, so you should choose a trading app that fits you best.
This article will cover what to look for in a trading app and the elements a trading app should have to suit your needs. To understand what is a stock market and other details on how to invest money and the dos and don’ts of investing, you can check out our other articles as well.
Things to Look for in a Trading App
Researching all the merits and demerits of every online trading app is important, but there can be so many that you will find yourself in deep marketing terms. If you want to find which trading app is best in India, these are the few things you must look at before choosing any online trading app for yourself.
Anything you are doing on the trading app, you will constantly be interacting with the UI of the application. If it’s not thoroughly tested on usability, you can have a tough time doing even the most basic task. Back in the day, the trading applications would be extremely hard and proprietary, and the learning curve on them was crazy steep. People used to take pride in understanding which feature is located where and what does what.
But today, a trading app UI should be fast, simple, intuitive and straightforward, which creates no friction in the trading process.
Trading is no less than a fast-paced esports where every millisecond matters. You want to have a trading application built and optimised for speed. Every function, process, and user interface should work at pace with you. You don’t want your application to show you the loading screen everything you place an order for puts and calls.
Commission and brokerage on the trading applications are more than normal delivery on the stock. You should look at the AMC and brokerage charges on all the trading segments, i.e. stocks, commodities, currencies etc. Special subscriptions might help you save some money if you are a regular trader.
The security of the trading application is an extremely important right, It should not only keep your information safe but also protects payment methods. You should always look for secure trading platforms trusted by SEBI, which have proved themself in the trading market and are trusted by many traders.
Advanced Tools and Features
Advance technology, which can work fast and reliably is very important to a trader. From advanced charts, in-depth research analyses, advanced drawing tools, risk management tools, smart alerts and AI-based real-time indicators for price action, pivots, strategies and setups, all these tools are extremely useful, and many traders rely on them with every atom of their bodies.
Picking an online trading app can be very exhausting because many more prominent firms are entering the market with their application, and the market is heating up as every day goes by.
So which trading app is best in India? The ones with a pragmatic interface, access to research and information, trade security and give you advanced tools at your disposal.