We are aware of trade of various forms and types. From ancient times trade has been part of our society and our civilization in some form or the other. Some trades were in the form of grains or other material things that existed at that time. But with the advancement of technology and software applications, we are now in an era where trading of various types can be done with the help of software. Let’s dig deep into it.
What is a Trading Platform
A trading platform can be defined as software that is used for doing a trade: which involves opening, closing, and managing the market positions through a financial intermediary such as an online broker.
The Online trading platforms are generally offered by brokers either for free or at a discount rate in exchange for maintaining a funded account and or making a specified number of trades per month. A mix of robust features in low fees is offered by the best trading platforms.
Trading platforms often come with bundles of other features, such as real-time quotes, charting tools, news feeds, and even premium research.
Trading platforms are also tailored to specific markets, such as currencies, stocks, or futures markets.
There are basically two types of trading platforms: prop platforms and commercial platforms. As their name indicates, commercial platforms are targeted at day traders and retail investors. They are mainly characterized based on ease of use and an assortment of helpful features, such as news feeds and charts, for investor education and research.
On the other hand, prop platforms are customized platforms developed by large brokerages to suit their specific requirements and trading style.
Traders tend to use a variety of different trading platforms depending on their trading style and volume.
PICKING A PLATFORM :
When deciding between trading platforms, traders and investors need to consider both the features available and the fees involved in trading.Fees are also an important consideration while choosing trading platforms. For example, traders who employ scalping as a trading style will gravitate towards platforms with low fees. Lower fees are always preferable for every trader but there may be trade-offs to consider.
But Lower fees will not be advantageous if the features provided are few in number and the informational research is not up to the standard.
Certain trading platforms may be agnostic to a specific intermediary or broker, while other trading platforms are only available when working with a particular intermediary or broker. Investors also need to consider the reputation of the intermediary or broker before committing to a specific trading platform to execute trades and manage their accounts.
So coming to the best trading platforms in India, let’s have a look into the best trading platforms in India:
Zerodha KITE trading platform :
This platform is at the top of the list because it is very light and consumes lesser bandwidth compared to other platforms.
It is the online trading platform for web and mobile brought by India’s number 1 discount broker, i.e Zerodha. KITE is developed in-house by the Zerodha team.
This platform has a very minimalist interface which makes it clutter-free and easy to use and comforts the eyes. It is available in 11 Indian regional languages.
The drawback found in this platform is that it is not possible to back-test your strategies.
Zero Brokerage on investments and Rs 20/ executed order for non-delivery trades is being offered by Zerodha.
The account opening process in Zerodha takes around 15 minutes if your mobile is linked to your Aadhar number.
According to reports, stix pro is one of the advanced web and mobile-based trading platforms from Upstox which is the second-largest discount broker after Zerodha.
Socket technology is used in the application which enables faster access to market data in real-time. One disadvantage is that mutual fund investment is not possible through this application.
It has highly customizable themes, layout, and alerts that can be set according to users’ preferences. It is highly responsive and can adjust automatically according to desktop, tablet, or mobile screen. Multiple watch lists can be set at any given time.
Zero brokerage on all investments and Rs 20/ executed trades are being offered at Upstox.
Upstox is currently waiving off the account opening fee. You can now open an account free of cost.
Angel Broking Speed Pro :
One of the popular stock brokers of India, angel broking has introduced the angel broking pro trading software. A desktop-based application that can be installed by downloading the executable file.
Earlier till 2019, angel broking used to charge brokerage on a percentage basis. But now they have been following the model of a discount brokerage like Zerodha.
The company charges Rs 20/ trade and for delivery trade Rs 0 brokerage charge.
Live market information can be accessed and opened in excel with rate refresh. With this software online transfer of funds with more than 40 banks is possible.
All account-related information can be accessed such as funds management, trade report, portfolio constitution, and back-office report.
This application is not supported in MAC versions.
With this software, it is possible to set alerts based on certain user-defined parameters.
You can get a Demat account with zero AMC charges for the first year.
5Paisa Trader Terminal:
It is a discount broker promoted by IIFL (India Infoline). Their trading platform is called ‘Trader Terminal’ which provides an optimal user experience.
A .exe file needs to be downloaded from their website and needs to be installed in your system to use it. This desktop-based platform is relatively faster for day traders.
You can transfer funds from and to the bank account directly from the terminal itself. One can invest in mutual funds and insurance segments. It works smoothly and doesn’t consume much of the system’s memory.
The interface can be customized by the traders to suit their preferences.
Fyers One :
Introduced by discount broker Fyers which is based out of Bengaluru, flyers one is a desktop-based trading platform. A feature called the screener feature in the software can be used to scan a scrip that is gapped up by a certain percentage above the previous day high, etc.
It is not supported for the MAC version as of now and requires advanced system configuration to avoid lag.
Advance features such as heatmap, index meters, and stock screener, etc make it one of the outstanding trading platforms of India.
An amount of Rs 20/ executed order similar to Zerodha is charged by FYERS but it entered slightly late to the industry.
Sharekhan Trade Tiger :
The software needs to be installed on your desktop or laptop before starting to use it. You can download the .exe file from the Sharekhan website.
You can get access to all the trading calls from the Sharekhan research desk ranging from a day to a year and fundamental to technical. It gives fast and reliable feeds.
It gives access to live market scanners, Heatmap, chartbooks, and more. Multiple exchange platforms are available like trade at multiple exchanges BSE & NSE, currency within the same platform. Graph studies.User-defined alert settings on input stock trigger price, Premium calculator, and span calculator. Shortcut keys for fast order placements.
Video tutorials are available within the tool itself if you are stuck at any level.
Provides information about trading strategies. The application has been integrated with Sharekhan customer support, so you can raise a query within the tool itself. Some advanced configurations like Amibroker trading bridge, API integration, Stock screener, and trade from MS Excel are present.
ICICI Direct Trade Racer :
It is introduced by the biggest stockbroker in India, ICICI Direct. ICICI direct is the brokerage arm of ICICI Bank and played a vital role in popularising online trading in the stock markets of India. This trading platform is terminal-based and hence it needs to be installed before use. It can be downloaded from their website. Trade Racer provides you with live streaming quotes and research calls along with multiple watchlists. This software has a feature called the trend scanner feature, which helps to find the trending scrips as per the condition set.
It has a highly customizable interface. It comes in three views namely the Analytical view, Derivative views, and Equity Views.
Advanced features like Heat Map, Live Screener, etc are also included.
The software is not free. An amount of Rs 75 per month is charged towards the subscription. However, this fee is waived off if you generate more than Rs 750 brokerage per month.
The Bandwidth requirement is high. Hence it takes more time to load. This application is not much suited for users with slower internet speed. It has the provision to add various widgets as required by the trader. The widget can be opened with a single click from the icon bar which is being frequently used.
Motilal Oswal Trading:
It is a desktop trading software which comes with a lot of advanced features. This has been introduced by a leading stockbroker of India ‘Motilal Oswal’ having more than 10 Lakh customers. It has a super-fast trade execution with a 1-second refresh rate. It has more than 40 technical indicators available in a single scrip.
An Interactive risk-return chart is available from which the best combination of the portfolio can be chosen. It gives a trade guide signal, which generates auto buy/sell signals based on the trend spotting. It has access to more than 30000 research reports for all asset classes.
It needs a high system configuration to use without any lags as it is bulky software. You can set alerts for individuals or groups of scrips for a particular criterion. Watchlists can be created for different sectors like equity, derivatives, commodities, and currencies. It has an integrated health check and review tool which helps to compare and benchmark the portfolio and restructure it
NSE NOW :
NSE stock exchange itself has developed a trading platform Neat on the web, which is a web-based trading platform.
There is no requirement to install any software as it can be accessed directly from common browsers like Firefox, Chrome, etc.
It has a responsive design. Prices are updated slightly quicker compared to other trading platforms. One disadvantage is that it can be used to trade in NSE exchanges only. One can not trade inMCX and NCDEX making it not usable for commodity trading.
The 2-factor authentication login processes have been incorporated here which makes it more secure. This platform can be used by both beginners and experts.
About 10 years back we had to buy software for trading which was quite expensive but now because of heavy competition among brokers and advancements in technology, traders are getting the software for free. Now the traders just need to select any one software which has all the technical analysis tools involved matching their strategy.
here we have described the latest information on the best trading platform in India and if you have any doubts about it on let me know in the comment section
Visit this page: