Back in the ’90s before the internet blessed the stock market in India, sometimes it would take up to 60 days to Buy/sell stocks in the markets. It also involved a lot of paperwork which made it more complex for investors. Internet trading started in India on 1st April 2000. On 1st February 2000, The National Stock Exchange started the internet trading system.
This also introduced a new business model of discount broking. Discount brokers provide a trading platform for the traders and charge marginal fees for the transactions. With the evolution of smartphones every top discount brokers have launched Mobile application for their customers, which has made trading easy on the fingertips. The technology-savvy millennial are also attracted towards discount broking platforms. There is a huge competition between these broking firms to charm new adopters on their platform.
To help you choose the best, we bring out to you the Top 5 mobile-based discount broking Applications with details on their features and expediency.
Kite by Zerodha: Zerodha, founded in 2010 by Nitin Kamath, is the biggest discount broker in India. It has over +1.5 million clients. Its mobile app ‘KITE’ has got over +1,000,000 download on the play store and rated 4 out of 5. Zerodha offers Rs. 0 brokerage and flat ₹20 for F&O trading. It has Biometric (fingerprint and Face ID – iOS) 2FA for seamless logins. They have also introduced the newly trending dark mode on their application. The App provides exclusive access to level 3 data or 20 market depths. Level 3 data gives you deeper insights into market liquidity and allows you to develop sophisticated intraday trading strategies.
UpStox Pro: Upstox got a lot of fame after being backed by Kalaari Capital and Ratan Tata. Upstox has built a truly paperless Demat account opening and trading platform. One can trade Intraday/commodity/F&O/Currencies on the Upstox platform. Upstox provides historic data of the last 10 years. You can create an unlimited number of customized watch list on the app. You can also set price alerts for instant updates
StockNote by Samco: The StockNote App is empowered with recommended stories, technical analysis & fundamental analysis of stocks. Based on the economic calendar on global and Indian markets. StockNote generates thousands of breaking news reports including quarterly results & financial analysis. With the tutorials available on StockNote, even beginners can easily invest & trade in the markets. It also has one-touch trading feature which includes a direct one-touch trading experience, read a piece of information & trade right from it. Newbies in stock markets who wish to create long term wealth and are clueless on which stocks to buy? Samco’s market experts have carefully crafted StockBaskets which only include companies that meet the highest standards for long-term wealth creation.
5 Paisa: 5paisa was awarded as the Best Mobile Trading App in 2018. It is backed by IIFL, India’s leading Financial Services Group. 5 paisa also provides an opportunity to invest in mutual funds. Apart from broking. 5 Paisa also has an advisory section for its clients. And one more good news that it does not charge anything for the first 5 trades.
Shubh by Indiabulls Ventures: Indiabulls Ventures Limited (IVL), a pioneer in Indian online trading, intensifies its efforts in the discount broking segment with its trading platform – Indiabulls Shubh. Country’s first unlimited trading platform with ‘Subscription based’ monthly pricing. Customers can subscribe to Shubh App for unlimited trading plans starting from ₹1000 per month and trade unlimited by choosing a plan suitable to them, without worrying about the brokerage on each trade. The company has announced free trading for the first 30 days with no subscription charges for new customers. Customers can open their Demat/Trading Account online using the Indiabulls Shubh platform in a few minutes.