Mobile Trading Apps

Mobile trading apps (or Demat Apps) have become a necessity in the stock market trading space in India. It is not a luxury anymore but more of a basic expectation from a stockbroker.

Let’s find out the Best 6 Mobile trading apps that are doing relatively much better than their respective counterparts.

Best Mobile Trading Apps

Natasha Sinha, a 35-year-old employee in one of the leading eCommerce companies in Bangalore started trading in the stock market as a hobby. By time though, this hobby slowly turned into a new money-making stream in her life.

However, since most of her day goes into the office work – she gets minimal time to trade regularly and more importantly to enter her trades at the “right” time i.e. when the price is right.

Rakesh Patel, a businessman from Surat has to leave his factory site every time his stock price changes lucratively to quickly reach his cabin where he has the trading terminal installed. However, most of the times, he misses out on the potential profit he could have made if he had traded at the right moment.

You understand what they are missing in their lives, right?

A mobile trading app!

In the recent 3-4 years, mobile trading has gained amazing heights in terms of coverage and usage. As per one of the reports from NSE, mobile trading increase by more than 130% from ₹50,800 Crore in 2014 to ₹116,800 Crore in 2015.

Numbers for 2020-21 are even more staggering with an increase in mobile trading by almost double. 

And this is precisely why a lot of leading and upcoming stockbroking houses have been launching their mobile trading apps in such a hurry. More than a comfort, it has become a basic expectation of potential trading clients now.

Best Mobile Trading Apps In India

Recently, we did a research study on the best mobile trading apps in India. This research included:

• Inputs from active clients of different stock brokers in terms of ease of use, app speed, trading experience and usability of the app.
• Number of installs from Android and iOs play store
• User ratings
• App Features

Based on a qualitative and quantitative analysis, these are the top 6 mobile trading apps in India (in no particular order):

1. 5Paisa Mobile App

The mobile app from 5Paisa is one of the best performing mobile trading applications in India when it comes to performance, the speed of order execution and user experience. With this mobile app, you can trade across multiple segments and also invest in mutual funds as well as Insurance. Pretty exhaustive in kind of features offered, in a sense.

The best part is that even though 5Paisa is a discount broker, it provides quick tips at a technical level and fundamental calls within the mobile app for its users. The app comes with a guest login as well, thus, providing potential users with an insight into the features the offers.

Some of the features of the app are:

• Auto Investor feature provides users with information with the kind of entities one must trade/invest in with the time limit as well.
• Heatmaps, technical indicators, charting feature allows users to perform a quick technical analysis.
• The app is known for high security and is thus, one of the reliable applications in the industry.
• Multiple communication channels offered when it comes to customer service.

Some of the concerns at the same time with this mobile app are:

• Charts loading may take some time with lower internet connection bandwidth.
• 5Paisa has a history of average applications on mobile so this will need some time to gain prominence.

 

Also Read – Best Trading Platforms in India

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2. Fyers Markets

Fyers is one of those stockbrokers in India that has shown immense focus when it comes to technology and offering optimal user experience to clients through its platforms. Their mobile app is no exception and has consistently performed well at multiple levels.

The best part is that Fyers is most likely one of the youngest companies within discount broking space in terms of time but they are already been counted as one of the best ones when it comes to technology and performance of their trading platforms.

Some of the positives of Fyers markets are:

• Offers multiple features for technical analysis with a wide range of data options
• Works fine at low internet connection bandwidth.
• Integration with 25+ prominent stock banks for fund transfers.

At the same time, a few concerns around the app are:

• The update frequency cycle can be improved to under 4 weeks per update.
• Historical charting for fundamental analysis not available

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3. Zerodha Kite Mobile App

Kite is a mobile app recently introduced by Zerodha, one of the top discount brokers of the country. The app is known for its interactive user experience and ease of use. Some of the features the app comes up with are:

• Multiple market watch provision with detailed live market information
• Advanced technical charts with more than 100 indicators for quick analysis along with 6 different chart types and 19 drawing tools
• Smart search box functionality that instantly searches hundreds of thousands of instruments and contracts across exchanges

Kite is known for its lightweight and in fact, is one-third the size of a lot other mobile trading apps.

Some of the concerns raised about the app are:

• Network disconnection error for few mobile service providers has been noted quite a few times
• Minor issues in deleting or editing scrips from market watch were reported
• Frequent lags during chart loading

Check out this video that explains how to use Kite and some of its features:

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4. IIFL Markets

IIFL Markets was one of those mobile trading apps that got the most positive responses from the users in our research. This mobile app was launched by the financial services veteran IIIFL.

Its unique features such as ‘One Swipe Trading’ considers the time aspect related to trading and allows the clients to place the order with just a single swipe. Some of the other features are:

• Clients can apply for IPOs or OFS through their smartphones.
• Comes with a guest login that allows non-clients to browse through some of the basic features to understand how the mobile app works
• The Stock Watch feature allows the user to keep the user’s selected stocks right in front of the home screen.

Another unique feature of this mobile trading app is that it allows multiple Stock Watchlists with each one of those allowing the user to accommodate up to 50 Stock market scripts at one point in time.

 

Some of the concerns raised about the app are:

• Regular issues are seen after every app update, however, were fixed with quick turnaround
• Occasional issues with market and price alerts and notifications
• Few issues around OTP delivery were observed

Here is how the IIFL Markets app works:

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5. Kotak Stock Trader

This mobile app from Kotak Securities has an integration with feeds from Times of India, Money Control and Economic times that it shows to its clients within the mobile app based on their preference. Some of the other unique features of Kotak stock trader mobile app are:

• Live Bloomberg TV integrated within the app that users can watch 24 X 7
• A unique feature ‘My Investments’ for investors helps the users to show all investments made other trading platforms of Kotak i.e. KEAT Pro X, KST or Website within the single UI.
• Features such as Live market updates, market watchlists etc. can be accessed without any Upstox login details from the users.

Some of the concerns raised about the app are:

• Quite a few issues reported on the user experience of the mobile app making it tough for the users to identify different features
• Needs a good internet bandwidth to operate smoothly. A lot of issues seen in 2G mobile networks.
• No list available for stock selections, users need to type the scrip to select stocks.

Here is one of the demos of the Kotak stock trader App:

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6. Upstox Pro

Upstox Pro mobile app by Upstox (or RKSV), a leading discount broker – is one of the most advanced trading platforms. Some of the unique features of the app are:

• Different chart types such as Candlesticks with various drawing tools that users can directly use and customize as per their analysis
• Historic data available for the last 10 years
• Alerts and notifications of stock prices available as per-user settings.

 

Some of the concerns raised about this app are:

• No option to check linked bank account details in the app
• Search option missing in the guide.
• Back Office app not available

Get access to the app by opening the Upstox trading account/ Upstox Demat Account.

To simplify the process the Upstox has offered, Upstox 3 in 1 account that offers trading, Demat and banking services in one bundle.

For other charges, you can refer to Upstox DP Details.

Check out this video that explains how to use Upstox and some of its features:

Apart from these top mobile trading apps, here are some other mobile apps that have been launched in the recent past and has shown decent promise among the user base:

Motilal Oswal Mobile Trading App

This mobile trading app from the full-service stockbroking house of Motilal Oswal is getting traction over a period of time. The broker has set up different trading apps for traders and investors respectively.

Thus, depending on your trading style, you can pick the corresponding mobile trading app.

 

Edelweiss Broking

This is one of the highest-rated mobile trading apps on the Google play store and has been liked by the users installing the app as well. However, the app needs to bring in features for its experienced set of traders to make it among the top apps in the country.

 

You can read this review in Hindi as well.

With huge innovations and disruptions happening across the mobile applications space to go along with deep penetration of smartphones within 2nd, 3rd and 4th tier cities of India, Mobile trading is here to stay.

Thus, the stockbroking companies looking to expand and grow don’t really have an option but to make sure, they bring regular implementations within the mobile space.

These features and aspects, at the same time, need to be user-friendly and should make sense for the users to use.

At the same time, with limited time left in the day, people would prefer a mobile device rather than an installable software or a web-based terminal. This brings in value add-ons such as convenience and trading at the right time where users can ripe in maximum profits.

Feel free to let us know your thoughts in the comments below.

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