Trade with Confidence: Choosing the Best Trading Platform in India
Discover the power of the best trading platform in India, combining low fees, diverse assets, and intuitive interfaces for your trading success.
A fast-trading platform, real-time market data, and useful tools for advanced charting are required for smooth online trading. A good trading platform is a prerequisite to being successful in trading. There are numerous online trading platforms available on the market, each with its own set of advantages and disadvantages. The best one for you is determined by your needs. A trading platform is a software system that allows you to trade in different securities. It enables investors to open, close, and manage market positions online through the use of a financial intermediary, such as an online broker. In this article, we discuss the best trading platform in India.
There are three categories of trading platforms:
This platform is available for download and installation on a desktop or laptop. It is the fastest trading platform if compared to other platforms. It is ideal for traders who want to place quick buy and sell orders, as well as for beginners.
You can log in here through the web URL, which is provided by the best stock broker in India. It is accessible via a web browser such as Internet Explorer, Mozilla Firefox, or Google Chrome. This platform is extremely useful in situations where smartphones and desktop computers are not available.
3) Mobile App:
Smartphones have made our lives so easy that without apps, we can’t work. Most stockbrokers now have trading apps for Android and iOS. Using your credentials, you can now do quick trades in a single app.
List of Best Trading Platform in India:
Here is the list of the best trading platforms in India prepared by share market experts.
- Zerodha Kite
- Angel Broking Speed Pro
- Upstox Pro8
- Sharekhan Trade Tiger
- ICICI Direct Trade Racer
- 5Paisa Trade Station
- Fyers One Trading Platform
- Motilal Oswal Orion Lite
1. Zerodha Kite:
Zerodha Kite is the company’s flagship trading platform designed for modern times. It is regarded as one of the best trading platform in India, and it is built with cutting-edge technology to meet the diverse needs of all types of investors.
The main features of Zerodha Kite are:
- Advanced charting with 100+ indicators, studies, tools, and extensive historical data.
- Everything is just a click away with a sleek and carefully designed user interface.
- You can quickly search through 90,000+ stocks and F&O contracts across multiple exchanges.
- It is multilingual and supports 11 regional languages.
- You can create powerful cloud-based market alerts for stocks, futures, and options.
- You can do easy fund transfers within the interface across multiple banks.
- You will get real-time data and also create multiple watchlists.
- It requires lesser bandwidth consumption i.e., 0.5 Kbps as compared to others.
2. Angel Broking Speed Pro:
It is one of the best trading platform in India for beginners, a desktop application that can be downloaded from their website. It is a trading software that offers clients a unified trading interface in addition to useful trade evaluation features. Another benefit of Speed Pro is quicker order execution and real-time monitoring.
Some of the key features of this platform are:
- You can look at your holding portfolio by scrip, day’s gain/loss, and significant profit/loss.
- The platform provides real-time stock and market news alerts.
- You can also apply for mutual funds on the same platform.
- You can create your own shortcut keys for quick trades.
- You can include the most frequently used tools and options in the ribbon bar.
- The live market information can be viewed in excel which is updated in real-time.
- Access to informative summaries and reports is simple.
- The platform allows for a certain level of interface customization.
- Combined best five is another great feature that allows the user to view the top five best bids for buying and selling in both markets, NSE and BSE, at the same time.
- You also get access to a variety of reports such as the day report, order report, net position report, portfolio report, and fund report.
3. Upstox Pro:
It is the most advanced and powerful web-based and mobile-based online trading platform in India. It is an HTML-based trading platform and is best known for its speed and simplicity. You can directly place your order from the chart, which is one of the unique features of Upstox Pro. The Upstox Pro web includes powerful customizable charts with 100+ indicators to help you spot market trends and make informed decisions.
The other features of Upstox Pro are:
- It provides a single trading platform for stocks, futures, options, and currencies.
- Create an unlimited number of price alerts and receive instant updates.
- A single search tool for finding simple and complex stocks.
- Upstox provides excellent customization options to meet a variety of trading requirements.
- Upstox Pro provides a variety of reports, including a position book, P&L reports, order book, trade book, your holdings, etc.
Upstox Pro has launched a new platform known as Upstox Pro Web 3.0. It is an upgraded version of Upstox Pro. It includes advanced features such as API integration with third-party applications, technical charts and indicators, algo trading, heat maps, and many more. The top features of Upstox Pro Web 3.0 are:
- You can customise multiple charting options and open a new tab to view the charts.
- You can now choose between ChartIQ and TradingView charts as per your trading style.
- Users can personalize the platform’s display by swiping between different widgets based on their preferences.
- With Web 3.0, you can now change your bracket orders all in one place and at once by using the positions tab.
- On Pro Web 3.0, you can now see your last ten fund deposits and/or withdrawals.
4. Sharekhan Trade Tiger:
It is the advanced online desktop trading platform by Sharekhan. It has been the most popular platform for traders for many years. It is an in-house trading platform in which advanced charting tools allow you to plot entry, target, and exit lines as well as execute trades directly from the charts. This is also one of the best trading platform in India.
Some of the salient features of the platform are:
- For advanced traders, there are 90+ charts and 30+ indicators.
- You can perform multiple charts linking by opening several charts and connecting them all by period, scrip, or exchange.
- With a single click, you can place bulk orders.
- To identify trading opportunities, use a stock scanner with simple filters.
- You will receive real-time news and research reports from experts.
- Users can personalize the screen with shortcuts, customizable layouts, 5 languages, and 4 themes.
- You will get advanced trading tools, advanced charting tools, Heatmap tools, and various calculators like Span calculator, Brokerage calculator, etc.
5. ICICI Direct Trade Racer:
It is the best trading platform in India that provides a variety of features for traders to analyze and trade. It offers live streaming quotes and research calls, an integrated fund transfer system, and the ability to create multiple watch lists. The Trade Racer platform can be customized for ease of use by using an icon bar, pre-defined desktops, and other features. Here are some of the features:
- Trend Scanner to track intraday price movements of selected stocks using predefined metrics.
- Another feature called Snap View offers an in-depth view of any stock, including market depth, resistance and support levels, different charts, and so on.
- Shortcuts and customised screens can help you improve your trading experience.
- Live Scanner to identify stocks that are setting new highs and lows in the market.
- While trading with the iClick2Gain tool, you can access fundamental and technical calls.
- You will get research calls and various stock recommendations.
- Heatmap tool for quick and easy decision-making.
- Add multiple market watch lists, i.e., up to 5 lists, each with a maximum of 20 scrips.
- Shortcut keys are also available for faster trading.
6. 5Paisa Trade Station:
5paisa is one of the owned and managed by IIFL. 5Paisa Trade Station is browser-based and one of the most powerful trading platform in India. It is best suited for professional traders who trade in large volumes and on a regular basis. It has a user-friendly interface, making it easier for both professional and novice traders to use effectively.
The top features of this platform are:
- 5Paisa Trader Terminal is well-known for its high performance and ability to function even with limited internet bandwidth.
- The platform is highly customizable to make your trade as per your style.
- You can create multiple watch lists, keep a check on real-time stock prices, and can connect their watch list to the scrips.
- You can also invest in mutual funds through SIPs or lumpsum through this platform.
- It offers advanced charting options which can also be modified with indicators.
- Timely updates about the latest news and stocks.
- You will see the consolidated view of all your holdings.
- You can transfer funds from the bank account directly from the terminal.
7. Fyers One Trading Platform:
It is a robust desktop-based trading platform where you can experience the best trading with highly advanced tools. To perform the necessary in-depth technical analysis, traders can use more than 60 indicators and studies. The trading software is well-known for its speed and superior performance, which perfectly complements its simple and valuable features.
Here are some of the top features:
- Real-time information about stocks of various companies.
- You can also create a watchlist based on sectors, indices, and derivatives.
- Market information available on stocks, commodities, currencies, and ADRs.
- Technical stock screeners to monitor intraday movements, support, resistance levels, circuit breakers and so on.
- 10 intuitive and distinctively designed customizable workspaces.
- 2+ years of intraday history with 60+ technical indicators.
- Other interesting features such as various order types, Heat map analysis for trading, index meters, etc.
8. Motilal Oswal Orion Lite:
Orion Lite is a desktop application that provides traders with a rich trading experience through high-speed and top features. You can create multiple watchlists for equity, derivatives, currency and commodities. They are popular for their research-based recommendations, which are available for free. It includes a one-of-a-kind “Trade Guide Signal” tool that generates buy/sell ideas automatically.
Some of the features are:
- In a single click, you can access detailed research reports on 244+ companies and 21+ industries.
- Advanced charting tools with more than 40 technical indicators.
- You can add up to 50 scrips in a single watchlist.
- Portfolio Health Check and Review Tools to instantly restructure their portfolios.
- Quick trade execution with 1-second rate refresh.
- Other features include option writer, option dCoder and portfolio optimizer.
How to choose the right Trading Platform:
- Fees: You must know how much you will have to pay to use any particular trading platform. Traders always look for low-fee trading platforms where they also want some basic features to be included in that like technical analysis tools, a news feed, etc.
- Speed: Speed is essential in all types of trading, whether intraday or otherwise. You don’t want to use a tool that will stifle your trading. So, look for a platform that is reliable and fast.
- Customization: A trading app should also be adaptable. It should allow you to customise how you want to use it and analyze the charts. Customization options for the trading platform aid in the creation of a personalized workstation that allows you to trade comfortably and without stress. Choose the best trading platform in India.
- Advanced Charting & tools: Charts are the basic tool that is required for performing technical analysis. Advanced charting is the most important tool for analyzing price action, pattern formations, triggers, and signals. You also need to check some minimum set of tools that you may require.
- Real-time news and reports: Access to market data has the potential to make or break your trading strategy. You should look for a platform that provides you with the latest and real-time data. Therefore, traders can stay up-to-date with headlines, research, and data without leaving their platform.
Because of advanced technology, the brokerage industry has been forever changed. Previously, people had to pay for basic services as well, but due to increased competition, most services are now provided for free. There are so many options available for trading platforms, but you must select the one that best meets your needs and preferences.
In conclusion, choosing the best trading platform in India is crucial for a successful trading journey. With factors like low fees, a wide range of assets, user-friendly interfaces, and mobile accessibility, the best trading platform empowers traders to make informed decisions and navigate the complexities of the market with confidence. It’s essential to assess your individual needs and preferences to find the platform that aligns perfectly with your trading goals.
FAQs About Best Trading Platform in India:
1. What are the key features to consider when choosing the best trading platform in India?
Ans: When selecting a trading platform in India, it’s important to consider factors such as ease of use, range of tradable instruments (stocks, commodities, forex, etc.), fees and commissions, research tools, technical analysis capabilities, mobile app functionality, and customer support.
2. Which trading platform offers the lowest fees in India?
Ans: Several trading platforms in India offer competitive fee structures. As of my last knowledge update in September 2021, platforms like Zerodha and Upstox are known for their low brokerage fees, especially for equity delivery trades. However, fee structures can change, so it’s recommended to check the latest fee information on the respective platform’s website.
3. Are there trading platforms that cater specifically to beginners in India?
Ans: Yes, platforms like Zerodha and 5paisa are popular among beginners due to their user-friendly interfaces, educational resources, and low fees. These platforms often provide tools and materials to help new traders understand the basics of trading and investing.
4. Which trading platform offers the best mobile app in India?
Ans: As of my last update, Zerodha’s “Kite” app, Upstox’s mobile app, and Angel Broking’s “Angel Broking” app were well-regarded for their user-friendly interfaces and features. A good trading app should allow you to execute trades, monitor your portfolio, access real-time market data, and set alerts conveniently from your mobile device.
5. Can non-resident Indians (NRIs) use Indian trading platforms?
Ans: Yes, many Indian trading platforms allow NRIs to open trading accounts. However, the process and regulations might differ slightly. Some popular platforms that offer NRI trading services include Zerodha NRI, ICICI Direct NRI, and HDFC Securities NRI. It’s essential for NRIs to comply with the regulations set by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).