The age of the internet has made trading easy, there was a time when trading used to take place through landline numbers and physical records were maintained but this has changed since the invention of the internet. Now, trading is done online through brokerage sites and various online trading platforms
Who are stockbrokers?
Stockbrokers act like mediators between investors and traders for buying and selling securities and stocks in return, they charge small fees for every transaction made. Before the golden age of the internet, there were only physical brokers, but now the internet has made trading easier and now trading is done online through websites and apps.
There are two types of brokers in India-
1. Full-service brokers
Traditional brokers or full-service brokers are brokers that charge brokerage fees on every transaction made, the brokerage fee is about 0.3%. Opening investment accounts with traditional stockbrokers have a benefit as other than stocks they also provide advisory services and other facilities like research, asset management and retirement planning.
The most popular trading platforms in the full-service category include ICICI Direct, Sharekhan, HDFC Securities, Sharekhan, Angel Broking and Axis Bank.
2. Discount Brokers
Discount brokers or online brokers do not charge a fee on trading and are specialized only in stock and commodity trading services. They do not offer add-ons like research and advisory, PMS, wealth management and branch support.
The most famous online trading platforms where you can open your investment accounts in the discount broker category include Zerodha, 5paisa and Upstox. (want to know in-depth? Check out our explainer on how does trading take place)
INTERFACES AVAILABLE FOR TRADING
In India, there are three types of interfaces available for trading platforms.
- Desktop-based trading platforms- The trading platforms can be downloaded on the desktop. This is the fastest of all the platforms and can be used by traders that want to place quick trades. Desktop shortcut keys make the process even faster.
- Mobile-based/Mobile app- Apps made by trading platforms can be downloaded on the phone and can be used anywhere and anytime. The app makes trading easy and convenient.
- Web-based trading platform- This online trading platform uses URL for login and is accessible over Google Chrome, firefox etc. Web-based trading platforms are slower when compared to desktop-based platforms or mobile apps.
Fundamental characteristics of a best trading platform In India
- The execution is continuous.
- The brokerage sites are safe and secure.
- The interface of the brokerage sites are user friendly.
- The interface of the brokerage sites is easy and the arrangement of exchange is simple.
Best trading platforms in India (online)
There are many online trading platforms available, in this section, we will be covering the best trading platforms in India where you can open your investment account, and choose the one which suits you the most.
Here is a cumulative list of the same
1. Zerodha Kite
Zerodha Kite is the flagship trading platform by Zerodha, one of the leading discount brokers in India. Considered one of the best trading platforms in India, it uses next-gen technology to match the diverse requirements of all types of investors. Zerodha account offers features like charting tools, data widgets, integration with third-party apps, etc., to make trading easy and quick.
- Comprehensive market watch
- Works efficiently on low bandwidth
- Unified search is available for a quicker search
2. UPSTOX PRO
Upstox Pro is also one of the best trading platforms in India, it has its variants for web, mobile as well as desktop.UpStox Pro helps the investor trade in shares, equity derivatives and currency F&O. It also has a feature where one can directly trade from charts using “Trade From Charts” (TFC).
The two versions of Upstox pro are-
- Upstox Pro mobile trading app
- Upstox pro web trading
- Customisable charts with 100+ market indicators
- Has features that can help in personalising the platform
- Access to a pre-defined watchlist as well as allows the user to create their own watchlist.
3. Angel broking speed pro
This is a desktop-based trading platform that provides a single-user trading experience and also has insightful trading features.
- Angel broking speed pro has heat map analysis feature which lets the investor monitor stock prices and market movements which help in building trading strategies
- Provides an option to open charts in excel
- Multi-desk option is also available in Angel broking speed pro
4. Angel Broking App
The app version of Angel Broking speed pro is Angel Broking App is a mobile trading app offering anywhere trading to its clients.
This app has the most advanced mobile trading app in India offering to trade in all segments which include Equity, Derivatives, Currency and Commodities at BSE, NSE, MCX and NCDEX.
- 40 technical charts
- Intuitive design and clean interface
- Integrated ARQ tool
5. ShareKhan Trade Tiger Platform
Sharekhan is a renowned full-time service broker and the trade tiger platform is the desktop application. It gives the unique option to trade with the help of heat map analysis.
The two versions of trade tiger are-
- Trade Tiger Basic for individual users
- Trade Tiger Advanced for professional users
- Multiple orders from charts
- Heat map analysis
- Trade from excel is also available
6. Motilal Oswal Orion Lite- Desktop Trading Platform
Motilal Oswal is one of the best trading platforms in India as a full-time broker and is trusted by many investors. It has a good market name for its research advisory and investment products. Orion is the desktop platform by Motilal Oswal which has customisable options to track and create multi-assets watch lists for equity, derivatives, currency and commodities. It also has customizable charting indicators for better technical analysis
- Reliable and trusted advisory
- Fast refresh rate
- More than 40 customizable chart indicators.
7. Flyers One Trading Platform
Flyers one is a desktop trading platform that has inbuilt stock screens and offers advanced charting. It has more than 60 indicators available for in-depth analysis
- Inbuilt stock screeners
- Advanced charting
- More than 60 indicators