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 10 Mobile trading apps that are doing relatively much better than their respective counterparts.
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. Over time though, this hobby slowly turned into a new money-making stream in her life.
However, since most of her day goes into 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 time, 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 2021-22 are even more staggering with an increase in mobile trading by almost triple the numbers mentioned above.
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
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
Our app demonstrations
Based on a qualitative and quantitative analysis, these are the top 10 mobile trading apps in India (in no particular order):
One of the most used stock trading apps provided by the most renowned stockbroker of India, Angel Broking. The Angel Broking mobile trading app, called Angel One, comes up with many exclusive features that make it one of the best mobile trading app in India.
The app is available for both Android and iOS platforms. To download the app visit the Play Store or App Store now.
Let’s have a look at some of the top features of the app:
The app offers personalized advisory for index-beating returns.
One can easily track their portfolio using the app.
The app offers 120+ technical indicators that make it easy for traders to make a profitable trade.
Also, the app has SMARTBUZZ features, that come up with short and precise market news and updates.
The SENSIBULL feature offers expert suggestions and advice that makes it easy for options traders to trade in the right stock.
There is a guest login feature available in the app as well that allows you to have a look at some of the basic aspects of the app without opening an account with the stockbroker.
However, there are some disadvantages too. Some of the major concerns in using the app are:
Many a time the user faces a login issue.
Other than this, due to some technical errors, sometimes it is difficult for traders to exit a trade that led to losses.
Angel One Mobile App is best for?
This app seen as one of the best mobile trading apps in India is suitable for beginners as well as expert level traders. Beginners will not find it hard to understand the different navigations and features of the app.
Expert traders, on the other hand, will get multiple advanced analysis features to carry on their trading smoothly.
Among the list of mobile trading apps, 5paisa mobile app is the one.
5Paisa offers one of the best-performing mobile applications 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 they offer.
Some of the features of the trading app are:
Auto Investor feature provides users with information on 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 are offered when it comes to customer service.
To download the app on your android device click here.
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.
5Paisa Mobile App is best for?
5Paisa Mobile trading app is best for beginner to intermediate level traders who are looking to place different types of orders across different formats. For instance, you could place a bracket order or a cover order when performing intraday trading.
Another one of the top mobile trading apps 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.
Some of the attractive features of the app are:
The app offers an option strategy builder that helps traders to create and execute multi-leg option strategies.
Update trader with the news alert, advanced technical charts, indicators, price alerts, and a lot more.
Customization to keep an eye on your favorite stocks and trading without hassle.
However, with some great features, there are some concerns too one must consider. These are:
The app takes a long time to load charts.
Traders generally face difficulty in placing orders or confirming order details.
Motilal Oswal Mobile App is best for?
This app, recommended as one of the best mobile trading apps in India, is actually recommended for long-term investors.
MO Investor app offers you different features that can assist you in performing fundamental analysis of stocks with the help of ratios, company details, financials etc. All of this information is a strong prerequisite when picking stocks for long-term investing.
Some of the problems associated with using the app are:
Like most of the other apps in the list, it too has a certain login issue.
Sometimes shows the market closes even in the trading hours.
The app does not have a user-friendly interface.
Sharekhan Mobile App is best for?
This mobile app from Sharekhan, although, is good for beginners but it mostly offers features for long-term investing. Thus, if you are an investor, at any level of expertise, this mobile app (again seen as one of the best mobile trading apps in India), can work well for you.
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 the discount broking space in terms of time but they are already been counted as one of the best ones when it comes to the 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.
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 IIFL. This App is considered one of the Best Intraday Trading Apps.
Its unique features such as ‘One Swipe Trading’ consider the time aspect related to trading and allows the clients to place the order with just a single swipe.
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.
Also, it is suggested to make a strong strategy on how to buy stocks and then start trading in the stock market.
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.
Regular issues are seen after every app update, however, were fixed with a 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:
IIFL Markets Mobile App is best for?
IIFL Markets is one of those apps that is suitable for a trader as well as an investor. This, one of the best mobile trading apps in India, is really helpful for any level of trader be it a beginner, intermediate or an expert.
This mobile trading app from IIFL Markets has some differential features such as screeners, scanners that make your life easy in order to filter stocks quickly and automatically instead of having a look at those manually.
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 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.
Still, have more questions to get clarified?
Why don’t you send your details and we will arrange a Free call back for you!