Top 10 Trading Apps in India for Newcomers

Top 10 Trading Apps in India

This article is about the review of the top 10 trading apps in India. For instance, the top 10 trading apps in India will help newcomers in the Indian stock market. The concept of trading apps is not old in India. Therefore, traders are not aware of all the benefits of existing apps. With the growing number of traders, there is a continuous demand for the most effective and cost-friendly trading app in India. Consequently, traders in the Indian stock market have seen the birth of numerous mobile apps for trading over the last decade. However, all of these apps are not safe. Some of these apps are useful and employ all recommended safety features. Also, these apps are user-friendly but all of them are not efficient enough to satisfy the traders’ appetite.

Therefore, it is important to choose the right trading app. This article reviews the top trading apps currently in use in India. Hence, newcomers or traders who have little knowledge of trading apps will get immense benefits from this article.

Firstly, We will focus on some of the trading apps that are mostly favoured by Indian traders. These apps are Zerodha, Groww, Upstox, 5Paisa, Fyers, Moneycontrol, Stockedge, Sensibull, Tickertape and Hot Tips. Later the pros and cons of the apps will be discussed.

Understanding the Indian Stock Market

Today, the Indian Stock Market has grown far if you compare it with the data of 1993. As per the latest data published by CEIC on the market capitalization of 200 global stock markets, the Indian Stock Market reached its zenith in September 2023. The latest market capitalisation data shows in September 2023, India accounted for $3840.500 bn.

top 10 trading apps in India
Market capitalisation since 1993 (Courtesy: CEIC’s economic database)

This huge amount comes from traders’ participation. For example, In April 2023, the average daily turnover was Rs. 153.5 trillion and it is growing fast. There are more than 5 lakh people in India who take part in day trading in the Indian stock market. In addition, there are more than 5 crore investors in India who passively participate in stock trading in India.

Today, the Indian Stock market presents a lot of investment avenues to the market participants. Therefore, a newcomer gets easily confused. So, they try to follow pieces of advice from different people. Mostly, the advice fails to create money. Hence, they get more confused. Efficient trading apps present solutions to such problems. That is why, we find so many apps in the market.

Today, we have apps which are more user-friendly. These apps allow you to trade very easily from even mobile phones. Using these apps, traders can invest or trade easily even from their workplaces. Hence, it is necessary to choose the right app for trading or investment.

Top 10 Trading Apps in India

It is hard for new investors to find which are better and more reliable than others. To address this problem, we discussed the top most reliable apps in the market today in this article. We hope traders, especially newcomers to the Indian stock market will find it beneficial.

Consequently, we have listed here the top 10 trading apps in India. We are going to discuss the pros and cons of these apps. Certainly, the traders will be able to judge which one is more suitable for their trading purposes.

Zerodha

Zerodha is the pioneer in the discount broker space in India. Also, it is the largest discount broker. It has subscribers across the length and breadth of the whole of India. That is why, Zerodha ranks top in the list of top 10 trading apps in India.

The trading app from Zerodha is Kite. Zerodha subscribers use this app for trading. Kite is available for Windows as well as mobile phones. Earlier Zerodha users used NSE NOW, but currently, Kite is the app that is in use.

Zerodha Kite is an extremely user friendly frill-free app. Kite is very light and does not need much space. Also, it is ultra-responsive. Kite uses HTML5 technology. It uses very little bandwidth. Even during full market hours and live running charts, the app uses very low bandwidth and minimum resources. Hence, in small towns and rural areas, where there is lower internet speed available, a Zerodha subscriber can operate the Zerodha Kite efficiently. Actually, after Zerodha presented Kite to its subscribers, the popularity of Zerodha increased manifold, making Zerodha the most widespread and popular discount broker in India.

Top 10 Trading Apps in India
Zerodha Kite app
Zerodha Kite Features

Kite is equipped with a powerful and efficient interactive technical chart for data analysis. These charts use live data feeds from the Zerodha platform. Consequently, a trader can directly send buy/ sell orders from the chart itself.

Also, a trader can analyze options data and use the Zerodha platform to analyze data for the next trading signals. The Kite provides efficient tools for data analysis. The whole system is backed by live data feed supported by a strong analytical engine that continuously processes raw data and simplifies them for its subscribers.

Order execution rests on the fingertips. Therefore, the right button tap will execute your trading order instantly. Buy-sell is completely hassle-free.

Also, the trader can instantly add funds from his/ her bank and withdraw funds whenever necessary.

As a result, any new person can operate Kite at ease after account opening. In case any assistance is necessary, customer care is always there to help.

Kite provides a very efficient dashboard that supports multiple chart windows simultaneously. Hence, you can create many different market watches to segregate different groups of assets.

Also, investors can invest in multiple assets from Kite including commodities, currencies, mutual funds, future and option contracts and ETFs in addition to as well as buying and selling stocks. All these are possible from your fingertips in the mobile app.

Kite is suitable for Android as well as Apple iOS platforms. On the other hand, the Kite app is automatically integrated with some unique modules of Zerodha. These modules are,

  • ZConnect
  • Quant
  • Pulse
  • Zerodha Brokerage Calculator
  • Zerodha Margin Calculator
Pros and Cons of Zerodha
Pros

Kite uses very little resources. Hence, it is fast and responsive. Zerodha modules are integrated into Kite. Kite was developed by the in-house engineers of Zerodha. Therefore, any technical problem is repaired within a short time. In addition, Kite users enjoy features like customisable charts, hundreds of modern-day technical indicators, an advanced platform for options trading and many more. Also, traders can trade in multiple financial assets from Kite. Algo trading is possible.

Cons

The back office is separate. Therefore, traders cannot contact Zerodha Q, the back office (now Console) from the app. Also, there is no strategy backtesting facility. And, Zerodha does not provide trading tips. Also, Subscribers have to pay extra for algo trading using Kite.

But, overall, we find Zerodha is completely secure and provides too many facilities to its subscribers. Hence, it is the top choice for many traders.

Groww

Groww is comparatively new in the market. But it is fast catching up with the peer companies. Today it is one of the major discount brokers in India.

Primarily, Groww was a mutual fund platform that allowed users to invest without in mutual funds at ease. Later, in 2o2o, it appeared as a full-time discount broker. The name of its app is also GROWW. Though it has a mobile app version, there is no desktop version. On the other hand, a subscriber can directly trade in GROWW by logging in to the web version. There’s no need to download and install any software for trading.

Groww App
Groww App
Pros and Cons of GROWW
Pros

Similar to Zerodha Kite, the Groww app uses minimum bandwidth. Also, subscribers can avail of stock analysis reports. In addition, trading is super-easy. Moreover, mutual fund investments are very easy.

Cons

There is no Call and Trade facility. Groww does not provide trading tips. The delivery service is chargeable. Also, Groww does not allow trading in Currencies and Commodities. And, it is new to the market.

Groww is a fast-growing platform as the name suggests. This trading platform is best suited for newcomers.

Upstox

Upstox is a well-known platform in the world of discount brokers in India. They are one of the few discount brokers who started operations very early like Zerodha. They are one of the leaders. Also, some analysts place them as the best in India. Three big corporate houses back the Upstox platform – Ratan Tata of Tata Group, Kalari Group and GVK Davix. Upstox presents a good trading app and therefore, it has made its position in the list of top 10 trading apps in India.

The trading platform of Upstox is very modern. A process of continuous development has made their platform a favourite to the subscribers.

Top 10 Trading Apps in India
UPSTOX PRO Web

The name of the trading platform is Upstox DartStock. It is a third-party platform. The trading platform is stable and secure. People who do not want to download DartStock can use the Upstox PRO Web platform. The mobile trading app is Upstox PRO. It is suitable for both Android and Apple iOS platforms.

Pros and Cons of UPSTOX
Pros

Upstox is backed by Ratan Tata himself. It is a good alternative trading platform to Zerodha. It is one of the best in the market. There are no delivery charges. Also, traders can trade in most of the financial assets using Upstox.

Cons

Upstox does not allow investing in IPOs and FPOs. Also, Call and Trade charges are applicable. And, GTC orders are not applicable in delivery.

Upstox is good for those who are trying to find an alternative to Zerodha. Also, it is a reliable, safe and time-tested trading platform.

5Paisa

5 Paisa is the first fintech company to be listed in the Indian stock market. Today, it is one of the leading discount brokers in India. The parent company is IIFL, the oldest full-service stock broker in India.

The web version is TradeStation and the mobile app is the 5Paisa Mobile app. The web version is available in Google Chrome, Mozilla Firefox and Internet Explorer only. It is a cloud-based web trading platform.

5Paisa Trade Station
5Paisa Trade Station

Mutual Funds, Commodities, Currencies and many other financial assets can be traded from the app. In addition, lots of other features like personal loans, digital gold and insurance-like financial assets are available under a single mobile trading platform.

Pros and Cons of 5 PAISA
Pros

5 Paisa provides a guest login feature. The users can customise the app. Also, the app provides live trading guidance. The live trading guide feature is special and backed by India Infoline’s special research team. The app provides two modules, Smart Trader and Smart Investor for trading guidance. Users can avail of facilities like personal loans and insurance from the app. Also, the 5 Paisa app is very user-friendly because the app supports multiple languages. Hence, the 5 Paisa app is very unique.

Cons

The app uses heavy resources. Therefore, it is a little cumbersome to handle. Also, the presence of ads in the live market is annoying to many traders. The app does not support trading in Commodities.

Fyers

FYERS is a good trading app. It uses a highly advanced trading platform. Therefore, professional traders can extract maximum benefit from its advanced level charts. FYERS is an acronym that stands for Focus Your Energy and Reform Self. The trading platform encourages self-learning which is necessary for every participant of the stock market. Fyers comes in the top 10 trading apps in India because of its features.

On account of its advanced features, it is comparable to top discount brokers like Zerodha and Upstox. FYERS is a member of NSE, BCE and MCX and provides trading in equities & derivatives, currencies, commodities, mutual funds and IPOs.

Top 10 Trading Apps in India
FYERS ONE

Subscribers of Fyers can use the following platforms.

  1. FYERS ONE – It is a feature-rich trading software. It is downloadable software available on the FYERS website. Users can use it through desktop/ laptop computers. The software provides 30-day intraday data and 5-year EOD data. The software can provide more than 60 indicators for technical analysis. Powerful screeners help to filter the better stocks to minimize trading noise.
  2. FYERS Web Trader – The cloud-based web trading platform of Fyers is FYERS Web Trader. It is light, feature-rich and fast. It has in-built options screeners which are highly useful for professional traders. It has an equity SIP calculator. Also, there is a portfolio tracker to help the investors.
  3. Mobile platform FYERS Market – This mobile trading app provided by the company is super light and does not use many resources. It uses minimum bandwidth. Therefore, subscribers can use it even when the internet speed is slow. In addition to the features available in other trading platforms of FYERS, the app also has access to different options and strategies. The users can use these options strategies from mobile phones.
Pros and Cons of FYERS
Pros

An excellent trading platform coupled with advanced technical features has made this app a favourite to traders. Algo trades are possible using its excellent trading platform. Options trading is easy using this app.

Cons

The app does not allow investment in Bonds and Insurance. One cannot trade in Commodities using the Fyers app. The company Charges customer service. Hence, in spite of all the features these small things make the app not a favourite to everyone.

FYERS is growing fast. More and more people are favouring them because of their trading platform. We hope Fyers will soon take a position among the leaders in India.

Moneycontrol

Moneycontrol is a renowned financial website. People refer to this website for all kinds of financial assets-related information and live market updates. Moneycontrol has come up with new mobile apps.

Today, Moneycontrol has different platforms for subscribers. Though none of them are for trading purposes, they are rich in features and provide loads of information to the users.

MoneyControl Website
MoneyControl Website

The apps are developed by Network 18. Already the apps have been downloaded more than 1 crore times. There are three app versions. The first one is a free version. The better version which is Moneycontrol PRO is chargeable. In addition, there is a virtual trading app for newcomers.

The app is feature-rich to help market participants with strategies and information. Subscribers can do everything, and extract every information except direct trading. People love the app for its rich features.

Resourceful apps are suitable for building wealth. True information backed by analytical tools helps the subscribers to get clutter-free information. Trading and investing depend on the judgement of the investor. The Moneycontrol apps provide information and analysis to make the right judgement.

Pros and Cons of MONEYCONTROL
Pros

The Moneycontrol app is a feature-rich app. The Portfolio Tools is a special feature for the users of the app. Also, there are additional tools for Fundamental and Technical analysis. Users can also avail similar tools for other financial assets.

Cons

Though the app provides many features for its users, one can not trade directly from the app.

The Moneycontrol apps are not suitable for newcomers except for the virtual trading app. The virtual trading app helps to trade in the live market without money. The Moneycontrol app is primarily used for research and analysis by its subscribers.

Stockedge

The StockEdge app is another featureful strong app. It is equipped with many advanced features. The features help it stand apart from the crowd. This is a very powerful analytical tool in the hands of traders. This app is most suitable for all kinds of trading. One can analyse each stock for fundamental and technical analysis. It ranks high in the list of top 10 trading apps in India.

StockEdge App
StockEdge App

The highly analytical app of StockEdge has only three versions available. The web version, the mobile version and the desktop version. Similar to the Moneycontrol app, it does not provide any trading platform. All of the apps have similar interfaces and featurewise they are also the same.

The app has free as well as premium versions available. The free version also has rich features like scans and screeners. The free version also provides free OI scans.

The premium version has many advanced features available. Complex technical analysis, in-depth options analysis and many other advanced features are available for subscribers.

The StockEdge app is primarily made for professional and experienced traders. Knowledgeable traders can take full advantage of it. All the complex anis are available at the fingertips in the mobile version. The mobile app is available in both the Android and Apple iOS versions.

Sensibull

Sensibull is famous for its options strategies. It is primarily an option trading platform. It is termed as the best options trading platform in India. Sensibull is closely attached to Zerodha.

The company has primarily focused on the ease of complex options strategies. Hence, a trader can easily write options knowing the profit/ loss at expiry or before. Even the calculation of profit/ loss of multileg options strategies lies at the fingertips. The retail options trader favours this app. It is not meant for newcomers.

The Sensibull is Now Free for Zerodha Users
The Sensibull is Now Free for Zerodha Users

Sensibull offers three kinds of subscriptions. The first one is free. Only limited types of strategies are there. This is not enough for an option trader. The next level of subscription is a paid one. It is Sensibull Lite. It has multiple built-in strategies. In addition, there are option chain graphical view, Black-Scholes option price analyser and Greeks calculator. The top version is the Sensibull PRO version. One can customize different complex option strategies. Professional options traders make good use of it. The good news is that Sensibull is now completely free for Zerodha users.

Pros and Cons Sensibull
Pros

Sensibull is primarily made for options traders. Users can buy and write options easily within seconds. Even if one wants to trade multi-leg complex options strategies, the user can execute the strategy in seconds. The app takes care of all the mathematics involved. The Events Calendar is a special feature for options traders. A strong options strategy engine backup makes this possible. Also, the app is fast and uses very little resources. One can directly trade from the app.

Cons

The app cannot filter strategies based on profit. The high subscription pricing does not suit every trader. Good knowledge of options strategies is necessary to reap maximum benefit from the app.

Unequivocally, the Sensibull app is the best of its kind. Traders trading in options favour the app.

Tickertape

Tickertape is a complete investment analysis tool. It is best for traders who prefer to make investment decisions prior to investing in the Indian stock market. It guides you to make good use of your money.

The app provides some exciting features. The Market Mood index, a Screener that has more than 200 types of filters, Stock deals ideas, Mutual fund screener and many other similar features has made this app a favourite to newcomers in the market.

TickerTape is One of the Top 10 Trading Apps in India
TickerTape is One of the Top 10 Trading Apps in India

Tickertape provides four kinds of subscriptions. They are free membership, three-month membership, six-month membership and one-year membership.

Pros and Cons of TICKERTAPE
Pros

The Tickertape app presents a complete investment package to subscribers. Company financial data, the latest company ratios and tools for fundamental analysis help to make the right investment judgement. Users can create a result-based watchlist and follow the price movements. The app provides the latest analysis from market experts.

Cons

The app uses lots of resources. Hence, traders, who are not well-versed with technical jargon may find the app complicated. One cannot trade directly from the app.

Hot Tips

Hot Tips is the latest entrant in the app market. Equipped with a powerful engine, this app has already won the favours of many market participants. The best thing about this app is it has some unique screeners for intraday and swing trades. The Techno Funda scanners come up with quite accurate results.

In addition, there is the algorithmic engine. Hot Tips provides algo calls with stop loss and targets. Added to that, the algo calls to advise the traders to come out of positions if the call has not reached the target within a specified time. This helps to minimize sudden losses.

There is also the index analysis and EOD scanners. With this app, newcomers have a powerful tool for trading and investment. The app is primarily focused on helping all kinds of traders with live calls and investment tips.

Hot Tips App Open = High Scanner
Open = High Scanner of Hot Tips app
Pros and Cons of HOT TIPS
Pros

The presence of live calls and scanners of different types has made Hot Tips a favourite to its customers. The app is well-suited for intraday and swing traders. Live calls and algo calls are automated. No human interference is there. Therefore, the calls are safe for users. There are different scanners for index and stocks.

Cons

The app is a new entrant in the Indian market. The app needs a fast connection for the operation of live calls. Only subscribers can get the full advantage. The app needs to remain attached to a broker platform for direct trades.

Overall, the Hot Tips app has many advanced features. Traders and investors can get immense benefits by using the app. Newcomers can use the app easily and start trading immediately from the first day.

Choosing the Right Trading App

Choosing the right app is truly necessary for every trader. We have mentioned the top 10 trading apps in India including pros and cons. So that, a newcomer can choose the trading app that is best for the trader. Supposing, a person is new to the Indian stock market and wants to start trading. Hot Tips is the right kind of app for the person. On the other hand, for a person who wants to invest with the right kind of knowledge, Tickertape is the right solution for that purpose. Again a wholetime trader should opt for Zerodha or Upstox. Likewise, there are other apps which can benefit you. An options-only trader may take the help of the Sensibull app. It depends on the mindset and trading style of the traders to choose the right app from the list of top 10 trading apps in India.

FAQ About Top 10 Trading Apps

Which is the no. 1 best trading app?

Many consider Zerodha’s KITE as a leading trading app in India due to its user-friendly interface and range of features. It offers an extensive set of tools for technical analysis, which makes it suitable for both beginners and seasoned traders.

Which trading app is profitable?

Profitability doesn’t solely depend on the app but also on your understanding of market dynamics. However, Upstox Pro stands out as it provides high leverage, low brokerage fees and swift execution, all boosting your potential profitability when used smartly.

Which trading is best for beginners?

The Angel Broking Application is especially useful for recent investment enthusiasts. Besides basic stock trading features like buying/selling stocks, it offers educational content such as blogs & videos explaining market trends & jargon making the movement into investing markets smoother.

Which app is faster for trading?

If you’re looking at speed in terms of order execution times then check out Interactive Brokers mobile application – Trader Workstation Mobile (TWS). Touted to have some of the quickest order fulfilment rates in the industry without compromising on efficiency or security,

Conclusion

In conclusion, this article on the top 10 trading apps in India is going to help newcomers immensely. Also, market participants may not know about all these apps as described. This is an overview of the top 10 trading apps in India.

We have picked completely different types of apps to arrange the list so that, it will fulfil the true purpose of the article. Right from Zerodha to Hot Tips app, these trading apps provide different services that will suit different trader categories.

This article will enlighten traders on the existence of these many beneficial apps in India today. Upcoming apps will also be added to the list if they are as good as these and can replace any app from the list.

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Author: Partha Dhar

Partha is a market analyst, FNO analyst, mutual fund advisor, blogger and a full-time trader since 2005. He also teaches market analysis online

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