If you are looking to invest in stocks, having an effective and reliable trading platform is a prerequisite. In today’s digital age when every sector is embracing technology open-heartedly, stock investment is no exception and this comes in the form of a trading platform. The days of conventional, paper-based stock trading are over as new-age trading platforms have brought in superior levels of ease, pace, and value to stock traders and investors.
As more and more people are getting into stock trading to get better returns, the role of trading platforms has become important like never before. However, at the same time, it is also necessary to choose the best trading platform in India that is loaded with all the features you need.
What is a trading platform?
In terms of finance, a trading platform refers to computer software that allows you to open, close, and manage your positions in the market as an investor or trader. You can monitor the stocks that you are interested in using trading tools like. Most trading platforms in India are available in all three formats – desktop application, mobile trading platform, and web browser-based.
How to choose the best trading platform in India?
Here are the six steps that one should take while choosing the best trading platform in India.
Understand your needs
Consider the features you desire from an online trading platform before clicking on brokerage adverts. The answer may change significantly depending on your investment objectives and where you are on the financial learning curve.
If you’re just getting started, you could need services like essential training resources, thorough glossaries, quick access to support professionals, and the capacity to execute practice transactions before starting with real money.
Don’t imitate others
Never choose a trading platform just because other traders are recommending it or using it. Always select an online trading platform in accordance with your unique demands.
Choose the best trading platform for you by analyzing the data, consulting with your broker, and evaluating their level of competence.
The ideal online trading environment should be compatible with your current trading environment. For beginners, it is typically best to start with something simpler so they can pick it up fast. Your platform ought to provide you with all you need if you wish to improve.
Thus, getting a trading platform with a strong product selection is crucial.
Even if other aspects could be more crucial, you should be aware of the costs associated with using any certain trading platform.
For certain platforms that offer capabilities and offers that their less-priced competitors do not, a little premium may be appropriate.
Generally speaking, it would be beneficial if you tried to lose as little of your investment earnings to trading fees and accounting expenses as is physically possible.
You can quickly determine which online platforms are just incompatible with the type of trade you’re interested in and others are simply too pricey to study with little inquiry.
Stability is one of the most important factors in trading. The performance of a platform must be ensured to be trustworthy and efficient. One of the most crucial aspects of trading is this.
The Best Trading Platforms in India in 2023
Now, comes the most important question – What are the top trading platforms in India in 2023? In the following section of this post, we have shortlisted the top 10 trading platforms in India that are known to perform well against all parameters and deliver the best value to traders and investors.
Take a look at them.
Kite by Zerodha
Kite by Zerodha is considered one of the most widely preferred trading platforms in India. Whether you are a new investor or an experienced one, the best trading platform in India promises a smoother and faster stock trading experience at any point in time. It is the superior level of user-friendliness of this trading platform that makes it the most popular stock trading platform today.
Based on the latest development mechanism, Kite by Zerodha is designed to meet the multi-dimensional needs of all types of traders and investors. The trading platform is easily available for web browsers, desktop systems, and smartphones.
Some of the major features of Zerodha Kite are listed below:
- Performs well even with low bandwidth internet connection
- A simple, attractive, and user-friendly interface
- Supports 10 regional languages
- Amazing charting features in the form of TradingView and ChartIQ
- Excellent fund transfer facility
- Easy integration with 3rd party apps
- Advanced order types such as Cover and Brackets
- Viewing of up to 4 charts simultaneously in one window
- Availability of 100+ indicators and 6 types of charts
- Floating order panel
- LIVE streaming of quotes
- Browser alerts
Another popular trading platform is by ICICIdirect, one of the leading full-service stockbrokers in India. A part of the revered ICICI group, ICICIdirect is known for its cutting-edge, technology-led products. This trading platform can easily be accessed on a laptop, desktop, and smartphone.
ICICIdirect offers a wide assortment of trading and investment offerings including Equity, Derivatives, Currency, Mutual Funds, ETFs, Bonds, Insurance and Loans, etc. The stockbroking service providers offer trading services across NSE and BSE.
Some of the salient features of the ICICIdirect All-in-one trading platform are:
- Easy trading in Equity and F&O
- Live streaming of stock quotes
- Fast monitoring of market movements
- Receive LIVE trading calls
- Next-gen charting functionality
- Create multiple watchlists
- Option to invest in IPOs, Insurance, Mutual Funds, NCDs, FDs, etc.
- Timely alerts and notifications
- One platform for trading across all categories at BSE and NSE
- Global indices to enable detailed tracking of all leading stock markets of USA, Asia, and Europe
- LIVE scanner feature
- Shortcut key for smart trading
- Heat maps to enable quick determination of up and down stocks
Paytm Money Ltd, sometimes referred to as Paytm Money, is a discount brokering firm located in Bangalore that was established in 2017. The largest and most well-known digital products and mobile platform in India, One97 Communications Ltd, which also owns the Paytm brand, is the parent company of Paytm Money.
Paytm Money (online and mobile trading app) is the company’s best trading platform in India, and it gives investors a frictionless trading experience. It is a safe and secure software with data protection on par with banks. Paytm Money has a substantial user base of over 6 million customers.
For stock trading, research, and analysis, Paytm Money provides a mobile app and a website. Paytm Money has developed a simple and effective trading platform for mobile and the web thanks to its stronghold on technology and support from a strong parent with excellence in offering e-commerce solutions.
- Free of cost equity trading
- No commission on direct mutual funds
- Optimum brokerage is capped at Rs. 15 per trade
- Free maintenance
- Digital account opening process
- Option to switch external regular mutual fund to direct mutual fund
- Price alerts and notifications
- Wide-ranging investment choices
- LIVE market depth
- Invest in IPOs, digital gold, stocks, derivatives, NPS, mutual funds, etc.
- Insightful stock market education
Initially started as a mutual fund investment platform, Groww has become one of the most widely chosen stock trading platforms as of now. It is an easy to use application which makes it undoubtedly the best trading platform in India in 2023.
Groww gives its investors a flawless trading experience with the best trading platform in India, Groww (web and mobile trading app). It has 128-bit encryption, making it a safe and secure app. The platform’s mobile application has one of the top ratings (4.5+) in both the App Store and Google Play Store.
- Straightforward price structure. The fixed brokerage of Rs 20 for each trade.
- No charge for establishing an account.
- There are no Demat AMC fees.
- Instant opening of a paperless account.
- Applying for an IPO online.
- With the Direct Mutual Funds platform, you may increase your returns by 1.5%.
- The choice to invest in digital gold online.
- SME share trading is possible.
Upstox is an Indian discount broking firm that specializes in technology and offers trading possibilities at affordable rates. The business offers trading in a variety of markets, including stocks, commodities, currencies, futures, and options, through its Upstox Pro Online and Upstox Pro Mobile trading platforms.
Trading, analysis, charting, and many other advanced trading functions are available on the Upstox trading platform. This technology makes it simple to place orders online and using mobile devices. The Omnisys NEST OMS (Order Management System) and Omnisys NEST RMS are the foundation of the Upstox trading platform (Risk Management System).
- Comprehensive charting tools with 100+ technical indicators
- Set watchlists and track selected scrips
- Cover Orders (CO) allow for speedy order placement
- You may pre-set your order preferences and quickly place orders during periods of high volatility
- Access to numerous research reports
- See and track your portfolio
- Personalize workspaces and utilize widgets to make trading more personalized
- Keyboard shortcuts (hotkeys) for quicker trading
- Access to the Upstox mutual funds platform
- Timely Notifications & Alerts
Angel One is one of the biggest full-service retail brokers in India, which was founded in 1987, and offers online discount brokerage services. The business provides a wide and eclectic range of trading and investing services, such as stock and commodities broking, investment
consulting services, margin lending, loans secured by shares, and distribution of financial goods.
Angel One is renowned for its best trading platform in India and investment education. Angel is the first sizable full-service broker to give its clients lowest brokerage charges.
There are three versions of the Angel One trading platform – Angel One SpeedPro (Desktop Application, Angel One Trade (web Portal), and Angle One mobile app. Their major features are listed below:
- Access to portfolio monitoring, alerting, and advisory services for ARQ
- Online quotations in real time
- Several watchlists
- Realtime charts with more than 40 technical indicators
- Online fund transfer across 40+ banks
- Investments in mutual funds
- Quick updates and in-depth Market and stock reports
- Obtain the last five corporate actions and fundamental ratios for equities.
- Use of advisory calls
- See and keep track of your equity, derivatives, and mutual fund portfolio.
- For Ledger, DP, and Funds reports, access the most recent 10 transactions.
A leading online stockbroker, 5paisa.com provides Indian retail investors with low-cost brokerage services. The founders of IIFL have advocated the professionally run and publicly listed 5paisa Capital Ltd.
The 5paisa trading platform consists of an Installable Trade Terminal, a Trading Portal, and a Mobile Trading App. These platforms, which are known for making the best use of mobile technology in financial services, are constructed using the most recent technologies.
- Investing and trading in stocks, commodities, currencies, mutual funds, insurance, etc
- Inside-app access to research and advice
- Real-time stock and market quotations
- Orders may be placed with a single click
- Put certain types of advance orders, such as Bracket Orders (BO) and Cover Orders (CO)
- Many watchlists
- Access to “Auto Investor,” a function that offers advice and suggests mutual funds based on your objectives and characteristics
- Entry to the 5paisa forum
- A quick, paperless personal loan option
- Keep an eye on your investments and trades at all times
- UPI-based fund transfers
A part of the country’s leading banking group, Kotak Mahindra Bank, Kotak securities is the stock investment and broking arm of the group. By investing heavily in technology, Kotak offers an all-inclusive trading platform that can easily access through a desktop application, a website, and a smartphone.
The best trading platform has features like:
- Mobile online trading, purchase, and sale of securities on the NSE and BSE.
- Real-time monitoring of your investment portfolio
- Obtain stock market information and live streaming quotes.
- See intraday and EOD movements for any stocks on intraday charts in the form of the candlestick, line, or OHLC charts.
- Prepared customized watchlists
- Move money from your checking or savings account to a trading or mutual fund account.
- Verify the margin, available finances, and other restrictions.
- Receive alerts and notifications
Nuvama Wealth & Investment Ltd, previously Edelweiss Broking Ltd., is a full-service stockbroking firm operating from Mumbai, India. It was founded in 2008.
For all asset classes, trading approaches, and time horizons, Nuvama provides its clients with investing guidance that is supported by research and analysis. The finest selection of trading platforms for all media is offered by Nuvama (Mobile app, a website & desktop trading software).
- In-depth market information
- All users may get free live streaming data from the NSE, BSE, and MCX exchanges.
- Live news on the app before it airs on TV
- Stock screeners are available to filter stocks based on the metrics you provide.
- More than 17 technical indicators and drawing tools are included in advanced charting.
- In addition to UPI, a secure fund transfer service
- Easily create a watchlist with up to 100 stocks.
- Track your open positions’ profit and loss from anywhere
- Invest in mutual funds from the same app, including tax-saving ELSS funds.
One of India’s biggest full-service stockbrokers, IIFL Securities was founded in 1995. Part of the IIFL Group, a well-known provider of financial services offering many different services, is IIFL Securities. IIFL is a reputable brand known for the caliber of its counsel, individualized attention, and application of cutting-edge technologies.
Customers of IIFL Securities can trade online using the Trader Terminal (TT) trading platform. This platform offers three trading applications made for various devices and types of stock investors. All users of these trading platforms can access them for free.
- Custom market watchlist
- Easy reach to intraday charts and businesses list
- Trade in equity, derivatives, commodity, and currency
- Premium dashboard for commodities, currencies, and indices
- Live stock trading requests
- Receive price alert notifications for the most preferred stocks
Since choosing the right trading platform is crucial to getting desired returns on investment and other perks, experts advise doing thorough market research on all leading trading platforms available in India. This way, you can choose the best trading platform in India that would help you in all aspects of stock trading.
FAQs about Best Trading Platform in India
What is a trading platform?
A trading platform is a software program that is designed to help traders and investors buy and sell stocks over a computer or smartphone. The advent of trading platforms has brought a revolution in the stock broking segment as a mobile trading platform allows people to trade in stocks anytime, anywhere.
Is it safe to use a trading platform in India?
Yes, due to high-end security features, today, it is absolutely safe and easy to trade in stocks through a trading platform.
Which is the best trading platform in India?
According to various market reports and user reviews, Kite By Zerodha is considered the best stock trading platform in India.
How to choose the best trading platform in India?
Refer to the aforementioned factors in this post that would help you determine the effectiveness of a trading platform against your trading needs.
Which is the fastest trading platform in India?
Upstox Pro and Kite by Zerodha are considered the most robust trading platforms in India. This is why they are widely preferred by traders and investors in the present context.