Top Stock Market Apps And Trading Platforms For Indian Investors

Top Stock Market Apps And Trading Platforms For Indian Investors

NIWS Team 22 Apr 2024

Ready to level up your investment game? Not every app you see in advertisements might be right for you. With new apps approaching the market every day, each with dissimilar features, it can be challenging to deduce which one is the right fit for you. The Indian stock market essentially differs from foreign markets in structure and regulations. In such cases, trading apps suitable for other markets might be irrelevant here.

This article analyses 10 of the best trading apps for Indian Investors. We assessed the apps pertinent to the diverse Indian market. Trading platforms are integral to keeping track of the market and managing profiles, whether for beginners or experts. Here are ten leading trading platforms and apps suggested by NIWS for beginners to start with.

If you want to deepen your understanding and skills, consider enrolling in a stock market course in Jaipur with NIWS. Their comprehensive courses are designed to equip you with the knowledge and tools needed to navigate the complexities of the Indian stock market effectively.

Top 10 Stock Market Apps And Trading Platforms For Indian Investors.

Here, we suggest some of the best stock market applications and trading platforms for Indian investors. It would help if you first choose the appropriate investing application and trading platform to succeed in the specific sector.

1. Sharekhan

Entrepreneur and filmmaker, Shripal Morakhia of India, founded Sharekhan in February 2000. The company was rebranded as Sharekhan following its acquisition in 2017 by the French international banking institution BNP Paribas. Sharekhan is a trading and investing platform. The platform reportedly had about 6,94,334 active clients in the fiscal year 2022–2023. Sharekhan provides the opportunity to open a free Demat account to begin trading.

The Process Of Creating A Trading Account

• To open a Sharekhan’s free Demat account, you'll need a PAN card copy, aadhaar Card copy, proof of address- ration card/passport/driving license/bank statement of 2 months, cancelled cheque leaf with the name printed on it or the passbook's first page & latest transaction, two passport-size photographs.

• You can open a Demat account through their official website or visit their nearest branch using these documents.

 

2. Paytm Money

Paytm Money is Paytm’s company. It made its debut in 2018 as a part of Paytm. It is a global Noida-based fintech company. Vijay Shekhar Sharma, the CEO of One97 Communications, the business that powers Paytm, created it in 2010. One97 Communications is Paytm's parent company.

In addition, it offers investment options through initial public offerings or IPOs and depository services. Paytm Money is registered with the Indian Securities and Exchange Board as a stock brokerage platform and repository participant.

The Process Of Creating A Trading Account

• To open a Demat account through Paytm Money, you may visit the official online platform or download the Paytm app.
• Creating or opening a trading or Demat account is cost-free through Paytm.
• Account opening does not cost a platform fee for an initial month.
• Brokerage on new accounts is also cost-free for the first ten days for new accounts.
• All other trading accounts have an initial 200 rupee charge. This offer is only valid for Demat accounts.

 

3. Motilal Oswal Investor

Raamdeo Agrawal and Motilal Oswal established the firm in 1987 as a brokerage business. When electronic transactions became common, the corporation used online trade offers. It provides many goods and services, including commodities, stock, initial public offerings (IPOs), mutual funds, investment advising, and portfolio management to help investors with their stocks.

The Process Of Creating A Trading Account

• You must first register with your information and wait for verification after providing the necessary documents. Opening a demat account with Motilal Oswal is quite simple.
• The documents required include bank proof, signature, Aadhaar, and PAN.
• Your registered e-mail will receive your Demat account details once verification is completed.

 

4. Groww Trading App

Harsh Jain, Neeraj Singh, Lalit Keshre, and Ishan Bansal started Groww in 2017 in Bangalore, India. It originally served as a direct distribution channel for mutual funds. Groww began offering stock access, ETFs, digital gold, IPOs, and intraday trading in 2020.

The Process Of Creating A Trading Account

• The Groww app and official website allow you to register a Demat account.
• The documents required to start a Demat account in Groww include proof of residency (driving license, passport), identification proof or an Aadhaar card, passport-size pictures, and a PAN card.

 

5. IIFL Markets Mobile App

Nirmal Jain started IIFL with support from investor Prem Watsa from Canada, General Atlantic, a private equity firm, and CDC Group, the UK government's private equity division funds IIFL. One of India's seven biggest banking companies, IIFL, or India Infoline Finance Limited, is the most profitable independent financial services provider.

The Process Of Creating A Trading Account

• Use the 'Open Account' tab on the IIFL Securities’ to initiate the opening of a demat account.

• The platform provides a complimentary demat account opening service and waives maintenance fees for the account's first year.

• After completing the online form and verifying it, you must submit scanned copies of your PAN and Aadhar card to create a Demat account.

 

6. Zerodha

Brothers Nikhil and Nithin Kamath started the business in August 2010. Zerodha, an Indian-based stockbroking and financial services company, offers brokerage services to individual and institutional clients and trading in mutual funds, bonds, currency, and commodities.

The Process Of Creating A Trading Account

• Zerodha follows standard protocol when opening a demat account. Visit the official Zerodha website and enter your name, PAN card details, phone number, and e-mail.
• You must upload the necessary papers, including your bank statement or a cancelled check.
• It also requires identification and proof of residence.
• You must complete the online verification procedure. After you have reviewed and accepted your application, the platform will send you your Zerodha account details.

 

7. Angel One Limited

Angel One Limited, established in 1996, is an Indian brokerage business formerly known as Angel Broking Limited. Its offerings range from investment advising to depository services, online stock broking, commodities trading, distribution of mutual funds, initial public offerings, and portfolio management. The company provides several online trading applications.

The Process Of Creating A Trading Account

• Once you register online with Angel One to open a Demat account, the Angel Broking KYC Team will call you using an E-KYC link.
• Now, you need your date of birth, PAN, and Aadhaar. Next, input your banking details for the account number and IFSC code.
• You must scan and send your PAN, AADHAAR, and cancelled checks.
• You must sign a personal declaration to verify the paperwork when you can’t provide your Aadhaar card details.
• The platform will send you your trading and Demat account login credentials to your e-mail.

 

8. HDFC Securities

HDFC Securities Limited is a subsidiary of HDFC Bank. It launched in 2000 and is based in Mumbai. HDFC Securities is India's most significant private-sector lender's stockbroking arm. It started as an HDFC Bank, HDFC, and Indocean eSecurities Holdings joint venture. They provide investing options in stocks, mutual funds, SIPs, IPOs, derivatives, bonds, NCDs, corporate FDs, ETFs, bullion, metals, energy, and agricultural commodities.

The Process Of Creating A Trading Account

• HDFC Securities offers an all-in-one trading account with zero charges to open from the HDFC securities website.

 

9. 5paisa Trader Station

5paisa was first launched in 2016 by its CEO, Narayan Gangadhar. It offers investment opportunities in the share market, mutual funds, IPOs, EFTs, SIPs, indices and bonds. 5paisa provides three types of demat trading accounts. The regular account costs nothing, but the power investor and ultra trader accounts cost 599 and 1199 INR, respectively.

The Process Of Creating A Trading Account

• To open a demat account, download the 5paisa app or log in using the 5paisa website.
• To begin with, you need to verify your phone number and e-mail and enter your PAN and bank details along with other documents.
• For e-KYC, you need to upload your picture and sign the e-form. Once you have submitted all these, the platform will verify the documents and notify you via mail.

 

10. Kotak Securities 

Kotak Securities Limited uses a single login platform to provide comprehensive investment services for various asset types, such as debt, stock, mutual funds, commodities, and currencies. It was founded in 1994 as a part of Kotak Mahindra Bank.

The Process Of Creating A Trading Account

• Kotak Securities offers diverse options in stocks, IPOs, smallcases, mutual funds, EFTs, and commodities.
• With zero brokerage, you can open a demat account easily on your mobile or the Kotak Securities website.

 

Is It Safe To Invest In These Trading Platforms?

All of the platforms mentioned above are well-established in India, ensuring safety. But, certain risks are involved in the actual trade. Each trade involves a separate set of risks. Therefore, we advise reading the fine print before investing.

Conclusion

In this article, we have suggested the top stock market apps in operation and provide you with all possible resources to make informed decisions. Though market knowledge is essential to survive in stock markets, NIWS suggests that pre-investment research is necessary. Well-researched investments will help you grow your investment portfolio and maintain wealth.