Best Trading Apps in India (For Beginners 2023)


Trading has become a popular way to generate a side income over the last few decades. However, not all trading apps are safe or reliable. If you’re searching for the best trading apps in India, this article provides a comprehensive guide to help you make an informed choice.

Top Picks

Best Overall – PayTM Money

Paytm Money is India’s top overall trading application, offering a promotional offer of Rs. 500 free brokerage this month. It features an intuitive interface and advanced trade analysis tools.

Best Forex Trading – Zerodha Kite

Zerodha Kite is the best forex trading app in India, allowing users to trade across various assets and providing free trade analysis tools.

Best for Beginners – Groww App

Groww App is ideal for beginners with its simple user interface. It offers free Demat account opening and a diverse portfolio of local and international stocks.

List of the Top 10 Trading Apps in India

  1. Paytm Money
    • Ratings: 5.0/5.0
    • Features: Zero commission on direct mutual funds
    • Fees (Per Trade): Rs. 15
    • Best Offer: Rs. 500 free brokerage this month
  2. Zerodha Kite
    • Ratings: 5.0/5.0
    • Features: Comprehensive stock trading options
    • Fees (Per Trade): Rs. 20
    • Best Offer: Zerodha Referral and Earn: Flat 10% Brokerage + Extra 300 Reward Points
  3. Angel One
    • Ratings: 5.0/5.0
    • Features: Rapid buying and selling of stocks
    • Fees (Per Trade): Rs. 20
    • Best Offer: Free Demat Account
  4. Upstox App
    • Ratings: 4.7/5.0
    • Features: Ideal for instant investing
    • Fees (Per Trade): Rs. 20
    • Best Offer: Sign up for Free and start your investing journey today
  5. Groww App
    • Ratings: 4.6/5.0
    • Features: Perfect for Beginners
    • Fees (Per Trade): 0.05% or Rs. 20 (whichever is lower)
    • Best Offer: Get Up to 65% back on your mutual fund investment
  6. 5paisa App
    • Ratings: 4.6/5.0
    • Features: Auto investing option
    • Fees (Per Trade): Rs. 20
    • Best Offer: 5paisa IPO Offer – 30 days Power Investor Subscription Free
  7. ICICI Direct App
    • Ratings: 4.5/5.0
    • Features: Pay Later with marginal trading
    • Fees (Per Trade): Rs. 20
    • No current offers
  8. Edelweiss App
    • Ratings: 4.3/5.0
    • Features: Advanced trade analysis tools
    • Fees (Per Trade): Rs. 10
    • No current offers
  9. FYERS
    • Ratings: 4.0/5.0
    • Features: Low trading fees
    • Fees (Per Trade): 0.03% or Rs. 20 (whichever is lower)
    • Best Offer: Free Account Opening
  10. AliceBlue App
    • Ratings: 4.0/5.0
    • Features: Low intraday trading charges
    • Fees (Per Trade): Rs. 15
    • Best Offer: Trade brokerage-free equity delivery

Comparison Between Apps

App Name Ratings Charges Unique Features
Paytm Money 5.0/5.0 Rs. 500 free brokerage this month Many free trade analysis tools and pending bonuses
Zerodha Kite 5.0/5.0 Rs. 20 All-in-one trading solution
Angel One 5.0/5.0 Rs. 20 Perfect for beginners
Upstox App 4.8/5.0 Rs. 20 for per executed orders Advanced charting tools with over 100 technical indicators
Groww App 4.6/5.0 Rs. 20 or 0.05% (whichever is lower) per executed order 100 percent paperless process to open account
5paisa App 4.6/5.0 Rs. 20 per trade Auto investing option
ICICI App 4.5/5.0 0.05 per cent brokerage charges Pay Later option with marginal trading
Edelweiss App 4.3/5.0 Rs. 10 per executed trade Very low brokerage charges
FYERS 4.0/5.0 No brokerage charges and account opening charges No commission on investing in mutual funds
AliceBlue App 4.0/5.0 Rs. 15 per trade charge One of the lowest intraday trading charges

Complete Review of All Best Trading Apps in India

1. PayTM Money

  • Overview: Paytm Money is registered with SEBI as a stockbroker and investment advisor. It’s a member of NSE, BSE, and CDSL as a depository participant. Initially focused on direct mutual fund investments, Paytm Money now offers equity trading with a promotional offer of Rs. 500 free brokerage this month.
  • Android Rating: 4.5/5.0
  • iOS Rating: 4.0/5.0
  • App Downloads: 100K
  • Features:
    • Free equity trading.
    • Zero commission on direct mutual funds.
    • Maximum brokerage is Rs. 15 per trade.
    • Zero maintenance charges.
    • Fully digital account opening process.
    • Feature to switch external regular mutual fund to direct mutual fund.

Pros:

  • Many free analysis tools to help you make informed decisions.
  • A simple-to-use platform.
  • Great customer support.

Charges: Paytm Money uses a fixed brokerage model for intraday trading, charging a flat fee of Rs 15 or 0.05% (whichever is lesser) for each executed order. The maximum brokerage across all segments is Rs. 15 per order.

2. Zerodha Kite

  • Overview: Zerodha Kite is an all-in-one trading solution known for its advanced trade analysis tools and user-friendly interface, making it suitable for both beginners and professional traders.
  • Android Rating: 4.3/5.0
  • iOS Rating: 3.2/5.0
  • App Downloads: 100 Lakhs

Features:

  • Superfast buying and selling of stocks.
  • A large number of local and international stocks are listed.
  • Simplistic user interface.
  • Comprehensive trading options.

Pros:

  • Supports numerous languages.
  • Trading possible even with a weak internet connection.
  • No brokerage charges across any investments.

Charges:

  • Rs. 20 is charged per executed order in intraday trading.
  • No brokerage charges across any investments.

3. Angel One App

  • Overview: The Angel One trading application boasts a simple and user-friendly interface, making it an excellent choice for beginners. It offers advanced trade analysis tools to help traders improve.
  • Android Rating: 4.2/5.0
  • iOS Rating: 3.6/5.0
  • App Downloads: Over 1 crore

Features:

  • Quick buying and selling of stocks.
  • An excellent user interface.
  • Option to invest in mutual funds.
  • Supports low investment charges.

Pros:

  • Provides no support for e-wallets.
  • Option to invest in upcoming IPOs in India.

Charges:

  • Rs. 20 is charged across commodities, forex, options, and futures.

4. Upstox Pro Trading App

  • Overview: Upstox Pro is one of India’s largest trading applications, known for its instant investing feature and a diverse portfolio of local and international stocks.
  • Android Rating: 4.3/5.0
  • iOS Rating: 4.1/5.0
  • App Downloads: Over 1 crore

Features:

  • Allows instant investing.
  • Comes with TFC (The Fast and the Furious Charting) feature.
  • Customizable price alerts.
  • User-friendly interface.

Pros:

  • You can set limits for aftermarket orders.
  • Very simple user interface.

Charges:

  • Rs. 20 is charged for equity delivery trades, intraday trading, currency, futures, and options.

5. Groww App

  • Overview: Groww is considered the best beginner-friendly trading application in India. It offers free Demat account opening and provides various trading analysis tools.
  • Android Rating: 4.6/5.0
  • iOS Rating: 4.4/5.0
  • App Downloads: Over 1 crore

Features:

  • Allows you to open a free Groww Demat account.
  • No commission on mutual fund investments.
  • Very simple user interface.

Pros:

  • You can place an order with a single click.
  • No charges to open or maintain your account.

Charges:

  • Rs. 20 or 0.05% (whichever is lower) is charged for equity intraday and equity delivery trades.

6. 5paisa App

  • Overview: 5paisa App is one of the most popular trading applications in India, offering trading at BSE, NSE, and MCX, making it a versatile option.
  • Android Rating: 4.3/5.0
  • iOS Rating: 4.1/5.0
  • App Downloads: Over 50 lakhs

Features:

  • Offers auto-investing options.
  • Allows you to invest in mutual funds.
  • Regularly provides attractive offers to customers.

Pros:

  • You can set price and time alerts.
  • No commission on mutual fund investments.

Charges:

  • Rs. 20 is charged per order for all trading segments.

7. ICICI Direct App

  • Overview: ICICI Direct App is one of India’s largest trading platforms, offering online trading and investment services to over 50 lakh customers.
  • Android Rating: 3.6/5.0
  • App Downloads: Over 10 lakhs

Features:

  • Provides various analytical tools such as charting, graphs, and live P&L statements.
  • Speedy order placements, with a swipe-to-trade feature.
  • Offers different plans with features and benefits.

Pros:

  • Pay later with a marginal trading option.

Charges:

  • Rs. 20 per executed order for equity delivery, options, and other segments.

8. Edelweiss App

  • Overview: The Edelweiss App is known for its simple single-touch login feature, real-time streaming of stock prices, and advanced trading tools.
  • Android Rating: 4.3/5.0
  • iOS Rating: 4.0/5.0
  • App Downloads: Over 10 lakhs

Features:

  • Provides advanced market analyzing tools.
  • Allows you to log in with your fingerprint.

Pros:

  • No charges to open your account.
  • Beginner-friendly user interface.

Charges:

  • Just Rs. 10 for all executed orders as brokerage.

9. FYERS App

  • Overview: FYERS is one of the best trading platforms in India, offering barrier-free stock trading and advanced trade analysis tools.
  • Android Ratings: 4.0/5.0
  • iOS Rating: 2.3/5.0
  • App Downloads: Over 1 lakh

Features:

  • Allows you to get real-time data through the market watch.
  • Quick and reliable charts with streaming quotes.

Pros:

  • No brokerage charges for equity delivery trades.
  • Advanced-level trading options.

Charges:

  • Rs. 20 per order across all segments, including equity and intraday trading.

10. AliceBlue App

  • Overview: The AliceBlue Trading application has one of the lowest brokerage charges in the share market industry. It offers various trading options, such as commodities, equity, futures, and more.
  • Android Ratings: 4.0/5.0
  • App Downloads: Over 1 lakh

Features:

  • Very low intraday trading charges.
  • Offers multiple trade analysis tools.

Pros:

  • Just Rs. 15 for intraday trading.
  • Simple and easy-to-use interface.

Charges:

  • Rs. 15 per order for all executed orders.

Benefits of Using the Best Trading Apps and Tips

Benefits:

  • Quick and hassle-free order placement.
  • A vast portfolio of both local and international stocks.
  • Excellent customer support.
  • Availability of advanced trade analysis tools.

Tips for Using Trading Apps

  1. Set Reminders for Stock Prices: Use alerts and notifications to set reminders for stock prices or events that could affect your investments.
  2. Utilize Advanced Trade Analysis Tools: Make full use of the advanced trade analysis tools provided by these apps to identify mistakes and make informed decisions.
  3. Book Profits When Targets Are Reached: Have predefined profit targets and exit strategies in place. Don’t get greedy; booking profits when targets are reached can help you secure gains.

Comparison of Trading Charges Among the Best Trading Apps in India

Here’s a comparison of trading charges among some of the best trading apps in India:

App Name Trading Charges
Finq.com 0.08% – 0.20% (depending on your account type)
Zerodha Kite Rs. 20
Angel One App Rs. 20
Upstox App Rs. 20
Groww App 0.05% or Rs. 20 (whichever is lower)
5paisa App Rs. 20
ICICI Direct App Rs. 20
Edelweiss App Rs. 10
FYERS App 0.03% or Rs. 20 (whichever is lower)
AliceBlue App Rs. 15

Parameters to Consider While Choosing the Best Trading App in India

Choosing the right trading app is crucial for your investment journey. Here are some important parameters to consider:

  1. Reliability: Look for apps that are safe and reliable, such as Zerodha Kite and Angel One, to trade stocks without concerns.
  2. Features: Seek trading applications with unique and powerful features that provide you with a competitive edge.
  3. User-Friendly Interface: Opt for apps with an easy-to-use and intuitive interface to save time and effort.
  4. Trading Charges: Compare trading fees among different apps and select those with lower charges to save money over time.
  5. Trading Speed: Speed is essential in trading. Choose an app known for its superfast execution and real-time updates.

Key Features of the Best Trading App in India

  • Cross-Platform: The best trading apps are accessible on multiple platforms, including iOS and Android, allowing users to trade from anywhere.
  • Real-Time Data: These apps provide real-time data, live news, pricing, and other crucial information for making informed decisions.
  • Notifications: Smart notifications and alerts keep traders updated about market changes and opportunities.
  • Volume of Trades: The best apps handle large volume trades efficiently, enabling traders to execute big orders without delays.
  • Online Chat: Excellent customer support through live chat, calls, and toll-free lines ensures user satisfaction.

Difference Between Online and Offline Trading

  • Online Trading:
    • No reliance on share brokers or middlemen.
    • Orders can be placed promptly and directly.
    • Access to a wide range of asset classes.
    • Real-time updates and live broadcasts.
    • Paperless account opening.
  • Offline Trading:
    • Complete reliance on stock brokers and intermediaries.
    • Order processing involves delays.
    • Limited asset class access.
    • Limited access to real-time information.
    • Paperwork-intensive account opening.

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

  1. Choose your preferred broker and use the mobile number associated with Aadhar to download their trading app.
  2. During the sign-up process, create a user ID and password and have your PAN, Aadhar, and bank account numbers ready for online document submission.
  3. Verify your identity by entering the OTP received on your registered mobile number.
  4. If the trading app has account opening fees, you may need to make the payment during this step. Otherwise, you can log in right away if it’s free.
  5. Once logged in, you can start exploring the app, create a watchlist, and begin trading.

Documents Required for Opening a Trading Account App

To open a trading account through an app, you typically need to submit the following documents:

  1. Photo identity proof (e.g., PAN card, Voter’s ID, Passport, Driving license, Aadhaar card).
  2. Address proof (e.g., Landline bill, Electricity bill, Bank statement, Ration card, Passport, Voter’s ID).
  3. Income proof (e.g., last six months bank statement, three months salary slips, Income tax return).
  4. Bank account proof (e.g., Canceled cheque, bank passport, account statement).
  5. A passport-size photograph.
  6. Digital signature.

FAQs

  1. Which trading app is the safest in India?
    • Zerodha Kite, Angel One, and Finq.com are considered some of the safest trading applications in India.
  2. Which trading app is the cheapest in India?
    • Edelweiss offers one of the lowest brokerage charges in India, with just Rs. 10 per trade.
  3. Is trading safe?
    • Yes, trading can be safe when done through reputable and reliable trading apps. Ensure you choose a trustworthy platform.

Conclusion

If you’re looking to generate income through trading, you have a variety of trading apps to choose from in India. Each app offers unique features and competitive pricing, catering to both beginners and experienced traders. Remember to consider factors like reliability, user-friendliness, charges, and available features when selecting the best trading app for your needs. Happy trading!



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