Trading platforms are becoming increasingly popular in India as more people look to invest in the stock market. With so many options available, it can be difficult to know which platform is best for you. Here are 10 of the best trading platforms in India, based on features, ease of use, and fees.
In this article…
What is an online trading platform?
An online trading platform is a computer software program that is used to place orders for financial securities on a financial exchange. The program is designed to interface with the exchange’s trading system to enable the user to place orders. Online trading platforms are typically offered by online brokerages and are used by individual investors and traders.
How is an online trading platform different from a trading app?
An online trading platform is a website that allows you to buy and sell stocks, bonds, and other securities. A trading app is a mobile application that allows you to do the same thing. The main difference between the two is that an online trading platform is typically more comprehensive and has more features than a trading app.
Which is better – a trading platform or app?
It depends on the individual trader’s needs and preferences. Some traders may prefer the convenience of a trading app, while others may find that an online trading platform offers more features and resources.
A trading platform is a software application that is used by traders to place orders for financial securities. A trading app is a mobile application that allows traders to access their trading accounts and place orders on the go.
Limitations of mobile trading apps
- Mobile trading apps may not offer all the features that are available on the desktop version of the trading platform.
- The user interface on mobile trading apps may be less user-friendly than the desktop version.
- Mobile trading apps may not be compatible with all devices.
- Mobile trading apps may be subject to data and connectivity issues.
Advantages of using a trading platform
- A trading platform can save you time and money by automating your trades.
- A trading platform can help you keep track of your portfolio and performance.
- A trading platform can provide you with market data and analysis.
- A trading platform can give you access to a wider range of markets.
- A trading platform can help you manage your risk.
How to choose the right trading platform
Even though there are many trading platforms in India, each app is meant for a particular use. For example, one trading platform is built for traders who need a fast interface, while another is built for traders who do day trading and needs more data.
Here are some questions to ask yourself to help figure out which is the right trading platform for you.
- What type of trader are you?
- What asset classes do you trade?
- What features do you need?
- How much are you willing to pay?
- How user-friendly is the platform?
- Does the platform offer mobile trading?
- What research tools are available?
- What customer support options are available?
- Is the platform reliable?
- Have you read any online reviews?
Which platform is best for trading?
It depends on a variety of factors, including your investment goals, trading style, and level of experience. If you’re just starting out, you may want to consider a simple platform that doesn’t have all the bells and whistles.
Best Trading Platforms in India
Here are the best trading platforms in India, rated by the ease of use and features.
1. Upstox Pro (Best Automated Algo Platform)
If you’re looking for the best-automated Algo trading platform in India, then Upstox Pro is the way to go. As a comprehensive and feature-rich trading platform, Upstox Pro is definitely worth considering.
Upstox Pro is a web-based platform that offers users a wide range of features and tools, including real-time streaming quotes, advanced charting capabilities, and a wide range of order types.
Upstox Pro also offers a number of unique features, such as the ability to trade directly from charts and the ability to create custom watchlists.
Pros and Cons
The pros of Upstox pro trading platform are that it is user-friendly and offers a variety of features.
The cons of Upstox pro trading platform are that it is not available in all countries and some features are only available to users who have a paid subscription.
Fees & Cost
The fees involved in using Upstox Pro trading platform are as follows:
Brokerage charges: For options, equity cash, and equity futures – Upstox charges 0.01% as the brokerage, while for currency derivatives and commodities it charges 0.1%. Thus, you will be able to make your profits efficiently by using this trading platform.
For options, equity cash, and equity futures – Upstox charges 0.01% as the brokerage, while for currency derivatives and commodities it charges 0.1%.
Why is Upstox Pro better than other trading platforms?
There are several reasons why Upstox Pro is considered to be a better trading platform when compared to others. First and foremost, Upstox Pro is extremely user-friendly and easy to use. Secondly, it offers a wide range of features and tools that can be very helpful for traders. Lastly, it provides excellent customer support, which is always a big plus.
2. Zerodha Kite 3 (Good for Beginners)
Zerodha Kite 3 is the best trading platform in India for beginners because it is user-friendly and has a lot of helpful features. It is easy to use and has all the features that a beginner needs to start trading.
The USP of Zerodha Kite 3 is its speed and simplicity. The platform is designed to be fast and easy to use, with a focus on streamlining the trading process. Zerodha Kite 3 also offers a range of features and tools that make it a comprehensive trading solution.
Pros of Zerodha Kite
- User-friendly interface.
- Advanced charting tools.
- Low brokerage charges.
- High speed and reliability.
- Trading from desktops, mobiles, tablets, and all devices.
- All functions, including margin trading, are easy to use.
- Customer support is good for any queries.
Cons of Zerodha Kite
- Zerodha Kite trading platform is not available for international investors.
- It is not possible to trade Forex with the Zerodha Kite trading platform.
- The Android app for Zerodha Kite is good and easy to use. However, some features are still missing such as alerts, charts, and analysis tools.
- There is no web-based trading platform available for Zerodha Kite.
- Phone support is not available for Zerodha Kite customers.
3. Trade Smart Online (Good for automated trading)
In India, automated Algo trading is becoming increasingly popular, and Trade Smart Online is one of the leading platforms in this space. With Trade Smart Online you can use three different methods to execute trades including options, ETFs, and stocks.
The USP of Trade Smart Online trading platform is its simplicity and user-friendliness. The platform is designed for beginners and experienced traders alike. It is easy to use and provides all the features and tools that a trader needs to trade successfully.
Fees & Cost
The fees and cost of Trade Smart Online trading platform are very reasonable. They offer a flat rate of $4.95 per trade, and there is no account minimum. There are also no inactivity fees or hidden costs. Overall, the cost of trading with Trade Smart Online is very reasonable and affordable.
Pros of Trade Smart Online
- It is a very user-friendly platform and even first-time users can find their way around the site with ease.
- The customer service is excellent and they are always willing to help out and answer any questions that you may have.
- The platform offers a wide range of features that can be very useful for both new and experienced traders.
- The fees are very reasonable and they also offer a discount for larger trades.
- They have a mobile app which is very handy.
Trade Smart offers a wide range of trading products, such as CFD trading, FX trading, Stock Broking, Cryptocurrency, and more to those traders who are on the go.
Cons of Trade Smart Online
- The platform can be difficult to navigate and use for advanced trading options.
- There have been reports of the platform being glitchy or slow.
- The fees can be high compared to other platforms in advanced trading options.
4. Samco Trading (For manual trading)
If you’re looking for a reliable and affordable broker for manual stock trading in India, Samco Securities is a great choice. With over 20 years of experience in the industry, they offer a wide range of services and tools to help you make the most of your investment.
One of the great things about Samco Securities is that they offer a free trading account with no minimum deposit. This means that you can start trading without having to worry about losing any money.
Samco Securities also offers a wide range of investment options, including stocks, mutual funds, and ETFs. They also offer a variety of research tools to help you make informed decisions about your investments.
Fees & Cost
The Samco Securities trading platform has a flat fee of Rs. 20 per trade. There is no monthly or annual subscription fee. However, there is a charge of 0.1% for delivery trades (i.e. trades where you take delivery of the shares).
Pros of Samcro Trading
- The Samco Securities trading platform is very user-friendly and easy to navigate.
- The interface of Samco Securities trading platform is quite user-friendly and can be used by both beginners and professionals.
- The Samco Securities trading platform is available in both English and Hindi language.
- The platform is available for Windows, Mac, and Android operating systems.
Cons of Samco Trading platform
There are a few cons to the Samco trading platform. One is that it is not available in all countries. Another is that it does not offer all the features that some other platforms do, such as a demo account. Finally, some users have complained about the customer service not being responsive enough.
5. 5Paisa – A budget-friendly option for beginners
5Paisa is a budget-friendly trading platform option for beginner investors. The company offers a mobile app and online platform that makes it easy to invest in a variety of financial products, including stocks, mutual funds, and more.
5Paisa is one of the leading online trading platforms in India. It offers a wide range of features and benefits that make it a popular choice among traders. 5Paisa offers its clients a desktop trading platform and a mobile trading app.
5 Paisa Fees & Charges
5Paisa is known for its low brokerage charges. It charges only Rs 10 per trade for equity delivery trades and Rs 20 per trade for intraday and F&O trades. 5Paisa also offers a flat rate of Rs 20 per executed order for all other segments such as currency, commodity, and mutual funds.
There is no easy answer when it comes to choosing the best platform for trading because it depends on a variety of factors, including your investment goals, trading style, and level of experience. However, here are 10 of the best trading platforms based on features, ease of use, and fees.
- Upstox Pro
- Zerodha Kite
- Trade Smart Online
- Samco Trading
All the best!